Friday, May 09, 2008
When To Make Withdrawals From Retirement Accounts
The government is happy to let you save money tax-free in a retirement account -- but you have to start withdrawing money from the account when you turn 70½.
The Required Minimum Distribution (RMD), as the Internal Revenue Service calls it, is the minimum amount you are required to withdraw each year from your retirement account. The first withdrawal is required in the calendar year that you turn 70½ -- the year you turn 70 if your birthday is before June 30 -- and you must make additional minimum withdrawals in every subsequent year.
When To Make Withdrawals From Retirement Accounts
Source: The Street
The Required Minimum Distribution (RMD), as the Internal Revenue Service calls it, is the minimum amount you are required to withdraw each year from your retirement account. The first withdrawal is required in the calendar year that you turn 70½ -- the year you turn 70 if your birthday is before June 30 -- and you must make additional minimum withdrawals in every subsequent year.
When To Make Withdrawals From Retirement Accounts
Source: The Street
Permalink posted by armandn @ 11:09 AM 
Phoenix Cos. Posts Quarterly Net Loss of $19 Million
The Phoenix Cos. posted a $19 million net loss for the first quarter on equity market declines, large death claims, the loss of a major client and unusual expenses, including a recent proxy fight.
The Hartford-based company said Thursday that it had an operating loss of $4.7 million, or 4 cents a share, in this year's quarter, compared with $37.4 million, or 32 cents a share, of operating profit a year ago. Operating results exclude realized investment gains and losses.
Phoenix Cos. Posts Quarterly Net Loss of $19 Million
Source: Hartford Courant
The Hartford-based company said Thursday that it had an operating loss of $4.7 million, or 4 cents a share, in this year's quarter, compared with $37.4 million, or 32 cents a share, of operating profit a year ago. Operating results exclude realized investment gains and losses.
Phoenix Cos. Posts Quarterly Net Loss of $19 Million
Source: Hartford Courant
Permalink posted by armandn @ 11:08 AM
The Role of Life Insurance in Your Client's Retirement Plans
Life insurance, like most insurance policies, is simply a contract between the insurance company and the policyholder. As most of you know, it is designed to pay funds out to your client’s designated beneficiary upon their death or even terminal illness for some products. As it is no mystery to the industry that as many as 85 percent of baby boomers preparing for retirement have no formal plans to transform their retirement savings into a steady stream of retirement income, the question becomes: What is the ideal vehicle for them to achieve a stable retirement? Could life insurance help supplement retirement plans to ensure help your clients continue to receive income even after retirement?
The Role of Life Insurance in Your Client's Retirement Plans
Source: Producer's Web
The Role of Life Insurance in Your Client's Retirement Plans
Source: Producer's Web
Permalink posted by armandn @ 11:07 AM
Life Insurance as a Retirement Tool
In mid-October 2007, Kathleen Casey-Kirschling became the first baby boomer to file for Social Security benefits, officially beginning the long march of the boomer generation through the Federal entitlement system. She and about 76 million of her brethren, will soon become dependents of the United States taxpayer. The pressure on tax rates to cover the obligations of our ballooning federal entitlement programs poses one of the greatest long-term challenges to Congress. The uncertainty that casts on the future of those programs, meanwhile, is an inescapable planning challenge to tomorrow’s retirees and to those who advise them.
Life Insurance as a Retirement Tool
Source: Life Insurance Selling
Life Insurance as a Retirement Tool
Source: Life Insurance Selling
Permalink posted by armandn @ 11:06 AM
Thursday, May 08, 2008
Buying Motives: What Makes Fixed Annuities Tick with Buyers?
Behind every sales transaction is a buying motive that explains why a customer made a purchase. Understanding the buying motives of consumers is important in convincing prospects to buy a product.
Buying motives – the emotional and the rational – can be useful in presenting a product to a prospect. Emotional buying motives typically involve little logic while rational motives appeal to reason.
Buying Motives: What Makes Fixed Annuities Tick with Buyers?
Source: Insurance News Net
Buying motives – the emotional and the rational – can be useful in presenting a product to a prospect. Emotional buying motives typically involve little logic while rational motives appeal to reason.
Buying Motives: What Makes Fixed Annuities Tick with Buyers?
Source: Insurance News Net
Permalink posted by armandn @ 12:43 PM
Offer Your Clients An Alternative to the "Tax Time Bomb"
Over the past decade, consumers have invested more than $1 trillion in annuities, offering plenty of challenges and opportunities for the financial advisor. The typical senior prospects look for yield, safety, and liquidity for some portion of their rainy-day savings. The fixed indexed annuity came along in the 1990s, and it was the ideal vehicle to handle these objectives. For the advisor, it was often an easy sale that came with a handsome commission.
Offer Your Clients An Alternative to the "Tax Time Bomb"
Source: Life Insurance Selling
Offer Your Clients An Alternative to the "Tax Time Bomb"
Source: Life Insurance Selling
Permalink posted by armandn @ 12:42 PM
Pacific Life Helps Clients Catch Up on Retirement Savings
With investor concerns about market fluctuations, not saving enough for retirement, and outliving assets, Pacific Life Insurance Company has launched a new bonus variable annuity.
Pacific Value Edge provides clients with an immediate credit of either 6% or 8%, depending on the amount of the initial purchase payments (investments). Investments less than $100,000 will earn a 6% credit, and investments $100,000 and greater will earn an 8% credit. This credit provides a “jump start” and can help those who are behind in saving and have less than 10 years until retirement income is needed.
Pacific Life Helps Clients Catch Up on Retirement Savings
Source: Business Wire
Pacific Value Edge provides clients with an immediate credit of either 6% or 8%, depending on the amount of the initial purchase payments (investments). Investments less than $100,000 will earn a 6% credit, and investments $100,000 and greater will earn an 8% credit. This credit provides a “jump start” and can help those who are behind in saving and have less than 10 years until retirement income is needed.
Pacific Life Helps Clients Catch Up on Retirement Savings
Source: Business Wire
Permalink posted by armandn @ 12:41 PM
Conseco Reaches Settlement of Multistate Market Conduct Examination
Conseco, Inc. today announced a settlement among state insurance regulators and two of its insurance subsidiaries: Conseco Senior Health Insurance (CSHI) Company and Bankers Life and Casualty Company. The settlement concludes a multistate market conduct examination led by Pennsylvania, Illinois, Indiana, Texas and Florida related to long-term care claims practices and procedures, complaint handling, and sales and marketing practices.
Conseco Reaches Settlement of Multistate Market Conduct Examination
Source: PR Newswire
Conseco Reaches Settlement of Multistate Market Conduct Examination
Source: PR Newswire
Permalink posted by armandn @ 12:09 PM
Wednesday, May 07, 2008
MetLife Mature Market Institute Unveils New Website
The MetLife Mature Market Institute’s® (MMI) newly designed Web site, www.maturemarketinstitute.com, is now available with additional resources for those interested in aging, caregiving, the changing workforce, retirement and demographics.
MetLife Mature Market Institute Unveils New Website
Source: Yahoo! Finance
MetLife Mature Market Institute Unveils New Website
Source: Yahoo! Finance
Permalink posted by armandn @ 12:13 PM
Successful Retirement Ranks High Among Financial Goals for Hispanic Americans
Today, Prudential Financial, Inc. released a new survey on the financial attitudes and behaviors of Hispanic Americans. According to the Hispanic Americans on the Road to Retirement research report, retirement is very much on the radar of middle-class Hispanic Americans - a vast majority of whom have taken steps to provide for their futures.
Successful Retirement Ranks High Among Financial Goals for Hispanic Americans
Source: CentreDaily.com
Successful Retirement Ranks High Among Financial Goals for Hispanic Americans
Source: CentreDaily.com
Permalink posted by armandn @ 12:12 PM
LPL Financial Heats Up the RIA World
Charles Schwab, Fidelity and TD Ameritrade will soon have a new and powerful rival to worry about, while the hybrid broker / independent RIA model should get a major boost. The largest independent B/D in the U.S., LPL Financial, announced today it's going to launch an RIA custodian later this year, which will serve both hybrid and fee-only investment advisors who operate independent RIAs. LPL currently has about 12,000 Series-7 advisors under its massive B/D umbrella.
LPL Financial Heats Up the RIA World
Source: Insurance News Net
LPL Financial Heats Up the RIA World
Source: Insurance News Net
Permalink posted by armandn @ 12:10 PM
Four Simple Steps to Selling Millions in Annuities
The fixed indexed annuity, for merly known as the equity indexed annuity, is a marvelous, creative product. First brought to the marketplace by Keyport Insurance Company in February 1995, this product combines the safety of a fixed annuity with the market appreciation of a variable annuity. The growth of fixed indexed annuities (FIA) since 1995 has been amazing; sales have ballooned from $500 million to more than $25 billion in 2006. Today, more than $120 billion in FIAs are in force, and that figure continues to grow dramatically.
Four Simple Steps to Selling Millions in Annuities
Source: Insurance News Net
Four Simple Steps to Selling Millions in Annuities
Source: Insurance News Net
Permalink posted by armandn @ 12:08 PM
Tuesday, May 06, 2008
John Hancock Launches New Fully Guaranteed Whole Life Insurance Product
John Hancock has launched a new, highly competitive Protection Whole Life policy that combines affordable, guaranteed death benefit protection, guaranteed cash values and a long term care rider.
John Hancock Launches New Fully Guaranteed Whole Life Insurance Product
Source: PR Newswire
John Hancock Launches New Fully Guaranteed Whole Life Insurance Product
Source: PR Newswire
Permalink posted by armandn @ 12:06 PM
The Hartford Enhances VA Product and Sales Capabilities, Debuts New 'Hartford Leaders' Product to Help Secure Americans' Financial Future
Connecticut-based leader in retirement and investment products responds to an increasingly complex, crowded and confusing market by designing a variable annuity offering with simplification, focus and value.
The Hartford Enhances Variable Annuity Product and Sales Capabilities, Debuts New 'Hartford Leaders' Product to Help Secure Americans' Financial Future
Source: Business Wire
The Hartford Enhances Variable Annuity Product and Sales Capabilities, Debuts New 'Hartford Leaders' Product to Help Secure Americans' Financial Future
Source: Business Wire
Permalink posted by armandn @ 12:05 PM
Prudential Financial Outlines Practical Investment Tips You Should Consider in the Retirement Red Zone (Tip 12)
Whether it’s taking stock of all your potential income sources, making sure you don’t miss out on maximum Social Security benefits or figuring out how to fund post-retirement health-care coverage, there are a number of critical investment decisions Americans in The Retirement Red Zone—the five years before and after retirement—should make.
Prudential Financial Outlines Practical Investment Tips You Should Consider in the Retirement Red Zone (Tip 12)
Source: Yahoo! Finance
Prudential Financial Outlines Practical Investment Tips You Should Consider in the Retirement Red Zone (Tip 12)
Source: Yahoo! Finance
Permalink posted by armandn @ 12:04 PM
America's Young Adults Face Serious Economic Challenges, According to New Data Report and Opinion Poll Analysis
Today's young adults are feeling the impact of a massive shift in the U.S. economy--changes that are documented in a new data report from Demos and an analysis of public opinion polling by The Center for American Progress. The studies were announced today with a press teleconference.
America's Young Adults Face Serious Economic Challenges, According to New Data Report and Opinion Poll Analysis
Source: Insurance News Net
America's Young Adults Face Serious Economic Challenges, According to New Data Report and Opinion Poll Analysis
Source: Insurance News Net
Permalink posted by armandn @ 12:02 PM
Monday, May 05, 2008
Long term care insurance on the tarmac, awaiting take-off
The horizon for the long term care insurance industry looks brighter now, with sales showing modest growth in 2007 after four years of discouraging results. However, its future is still uncertain.
This is like sitting on the tarmac, waiting for the right conditions, and being fairly sure, but not certain, that take-off will eventually occur. Where LTC insurance is concerned, the question is, will it ever be embraced by Americans to the degree of other long-established financial products?
National Undewriter: Long term care insurance on the tarmac, awaiting take-off
This is like sitting on the tarmac, waiting for the right conditions, and being fairly sure, but not certain, that take-off will eventually occur. Where LTC insurance is concerned, the question is, will it ever be embraced by Americans to the degree of other long-established financial products?
National Undewriter: Long term care insurance on the tarmac, awaiting take-off
Permalink posted by markw @ 6:56 AM
Guaranteed Lifetime Income Rider: Hot-Seller on the Annuity Block
The magic of annuities is all in the riders. In fact, guaranteed living benefit (GLB) riders have been the driving force behind the record-setting variable annuity (VA) sales in 2007. It shouldn’t come as a surprise then that annuity providers have been rolling out one GLB rider after another including:
* Guaranteed Minimum Income Benefits (GMIB)
* Guaranteed Minimum Withdrawal Benefits (GMWB)
* Guaranteed Minimum Accumulation Benefits (GMAB)
* Guaranteed Payout Annuity Floors (GPAF)
Guaranteed Lifetime Income Rider: Hot-Seller on the Annuity Block
Source: Insurance News Net
* Guaranteed Minimum Income Benefits (GMIB)
* Guaranteed Minimum Withdrawal Benefits (GMWB)
* Guaranteed Minimum Accumulation Benefits (GMAB)
* Guaranteed Payout Annuity Floors (GPAF)
Guaranteed Lifetime Income Rider: Hot-Seller on the Annuity Block
Source: Insurance News Net
Permalink posted by armandn @ 5:53 AM
Simple Concepts to Help Us Save
I don't mean handouts or bailouts, or "fixing" the economy, whatever that means. I am talking about re-emphasizing simple but powerful concepts that work: Save regularly, even if it's little by little, and never invest in anything you don't understand or is riskier than you can afford.
Simple Concepts to Help Us Save
Source: Sun-Sentinel
Simple Concepts to Help Us Save
Source: Sun-Sentinel
Permalink posted by armandn @ 5:51 AM
MetLife Adds Social Security Calculator
A new service from MetLife Inc. helps people approaching retirement decide when to begin taking Social Security benefits.
The MetLife Social Security Decision Tool "is the first online tool to combine life expectancy tables with a Social Security benefits calculation for consumers," the company said Tuesday.
MetLife Adds Social Security Calculator
Source: Financial-Planning.com
The MetLife Social Security Decision Tool "is the first online tool to combine life expectancy tables with a Social Security benefits calculation for consumers," the company said Tuesday.
MetLife Adds Social Security Calculator
Source: Financial-Planning.com
Permalink posted by armandn @ 5:51 AM
RiverSource Introduces Disciplined Asset Allocation Portfolios
RiverSource Life Insurance Company, Inc., a subsidiary of Ameriprise Financial, Inc., has introduced Disciplined Asset AllocationSM Portfolios for individuals investing in RiverSource® variable annuities and RiverSource variable universal life insurance products. Disciplined Asset Allocation Portfolios are five RiverSource fund-of-funds subaccounts, ranging from conservative to aggressive, designed to help investors more easily manage and help drive the performance of their RiverSource variable annuity and variable universal life products. The new portfolios are managed by the RiverSource Disciplined Equity and Asset Allocation team in Cambridge, Mass.
RiverSource Introduces Disciplined Asset Allocation Portfolios
Source: Business Wire
RiverSource Introduces Disciplined Asset Allocation Portfolios
Source: Business Wire
Permalink posted by armandn @ 5:49 AM
Friday, May 02, 2008
MIB Life Index Reports North American Life Insurance Activity Flat in March
North American application activity for individually underwritten life insurance was off slightly in March, down -0.7% year-over-year, according to the HUMIB Life Index(SM). At the close of the first quarter, U.S. and Canadian application activity was off -1.2% compared to the same quarter last year. March application activity was up +1.5% over the prior February.
MIB Life Index Reports North American Life Insurance Activity Flat in March
Source: PR Newswire
MIB Life Index Reports North American Life Insurance Activity Flat in March
Source: PR Newswire
Permalink posted by armandn @ 6:53 AM
LISA Questions NAIFA and AALU Support Carriers Over Producers and Consumers
The two major associations representing insurance producers have enthusiastically endorsed legislation in several states that harms consumers, producers and the insurance industry as a whole. In doing so, both the National Association of Insurance and Financial Advisors (NAIFA) and the American Association of Life Underwriters (AALU) raise serious questions about their independence and ability to serve their members.
LISA Questions NAIFA and AALU Support Carriers Over Producers and Consumers
Source: StreetInsider.com
LISA Questions NAIFA and AALU Support Carriers Over Producers and Consumers
Source: StreetInsider.com
Permalink posted by armandn @ 6:52 AM
New Measure of Income Adequacy Reveals Seniors Ill-Prepared to Retire with Dignity
According to recent data, Social Security is the only source of income for one out five retired elders and one out of three seniors rely on Social Security to provide over 90% of their income. In addition, it is the only source of income for one out of nine retired elder couples. Nevertheless, the reality is that Social Security will provide only 63% of the income required to achieve economic security for a senior who rents rather than owns his or her own home. Over time, without proper supports, this senior would fall deeper and deeper into debt and/or end up living in poverty.
New Measure of Income Adequacy Reveals Seniors Ill-Prepared to Retire with Dignity
Source: NCOA.org
New Measure of Income Adequacy Reveals Seniors Ill-Prepared to Retire with Dignity
Source: NCOA.org
Permalink posted by armandn @ 6:47 AM
The Secondary Market Increases Value of Life Insurance Policies
In The Benefits of a Secondary Market for Life Insurance Policies, a study conducted by The Wharton Financial Institutions Center, the authors said that this growing secondary market actually boosts the value of life insurance policies by making them more liquid.
The Secondary Market Increases Value of Life Insurance Policies
Source: Insurance News Net
The Secondary Market Increases Value of Life Insurance Policies
Source: Insurance News Net
Permalink posted by armandn @ 6:37 AM
Thursday, May 01, 2008
Life Insurance Settlement Industry Thriving Amid Controversy
For a market that was nonexistent 10 years ago, the idea of life settlements has turned into a booming billion-dollar industry as well as a controversial issue that has seen pending state legislation and warnings from the insurance commissioner's office.
Life Insurance Settlement Industry Thriving Amid Controversy
Source: Insurance News Net
Life Insurance Settlement Industry Thriving Amid Controversy
Source: Insurance News Net
Permalink posted by armandn @ 7:17 AM
Diversification Made Simple with New Asset Allocation Investment Option from Nationwide
To help consumers diversify their investments more simply through asset allocation, Nationwide Financial Services, Inc., today announced the introduction of the NVIT CardinalSM Funds as part of its annual updates to strengthen investment options within the company’s variable annuity and life products.
Diversification Made Simple with New Asset Allocation Investment Option from Nationwide
Source: Business Wire
Diversification Made Simple with New Asset Allocation Investment Option from Nationwide
Source: Business Wire
Permalink posted by armandn @ 7:16 AM
'Matters at Hand' Announces Launch of the "What You Need to Know Kit"
Matters at Hand™, a wealth management consulting service (www.matterstathand.com) dedicated to helping people get their estate planning and financial affairs in shape, announced today the national launch of its new “WHAT YOU NEED TO KNOW KIT™.” The Kit is an all-in-one educational resource guide and organizational tool that simplifies the complexities of all areas of wealth management - from estate planning, life and disability insurance, taxes, investments, and property/casualty insurance to budgeting, education savings plans, long term care planning and philanthropy.
'Matters at Hand' Announces Launch of the "What You Need to Know Kit"
Source: Business Wire
'Matters at Hand' Announces Launch of the "What You Need to Know Kit"
Source: Business Wire
Permalink posted by armandn @ 7:15 AM
Prudential's Quarterly Profit Drops 92%
First-quarter net income came in at $77 million, or 20 cents per common share, versus $1.025 billion, or $2.18 per common share, in the same period a year earlier. Adjusted operating income, which excludes realized investment gains and losses, was $729 million, or $1.65 per common share, the company reported.
Prudential's Quarterly Profit Drops 92%
Source: MarketWatch
Prudential's Quarterly Profit Drops 92%
Source: MarketWatch
Permalink posted by armandn @ 7:13 AM
