Friday, September 29, 2006
MassMutual to Offer Free Term Life In Southwest Florida
Massachusetts Mutual Life Insurance Company is adding another market to its LifeBridge initiative.
MassMutual, Springfield, Mass., is introducing the program, which provides $50,000 in free life insurance for eligible parents and legal guardians, in the Collier County, Fla., area.
MassMutual to Offer Free Term Life In Southwest Florida
Source: National Underwriter (subscription required)
MassMutual, Springfield, Mass., is introducing the program, which provides $50,000 in free life insurance for eligible parents and legal guardians, in the Collier County, Fla., area.
MassMutual to Offer Free Term Life In Southwest Florida
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 7:48 AM 
Nationwide Extends Its Humorous 'Life Comes At You Fast' Campaign
As part of its plan to target South Asians in the United States, Nationwide and A Partnership Inc. created new work based on the humorous Life Comes At You Fast brand campaign. The advertising, which launches this month, is Nationwide's first effort created specifically for this market.
Nationwide Extends Its Humorous 'Life Comes At You Fast' Campaign
Source: PR Newswire
Nationwide Extends Its Humorous 'Life Comes At You Fast' Campaign
Source: PR Newswire
Permalink posted by armandn @ 7:44 AM
John Hancock Launches Multi-Million Dollar Campaign Reflecting Evolution of Brand
John Hancock Financial Services today announced a major multi-million dollar campaign that illustrates the evolution of the John Hancock brand following the successful completion of its merger with Manulife Financial. Included in the campaign will be the launch of the company's first new brand platform in a decade, embodied in a major advertising effort.
John Hancock Launches Multi-Million Dollar Campaign Reflecting Evolution of Brand
Source: Yahoo! Finance
John Hancock Launches Multi-Million Dollar Campaign Reflecting Evolution of Brand
Source: Yahoo! Finance
Permalink posted by armandn @ 7:43 AM
5 Ways To Wreck Your Retirement
For many investors, the daunting task of building a tidy retirement nest egg is a top priority. Selecting winning investments is the primary challenge, but avoiding financial blunders can be equally important. Avoid these common mistakes, or they'll tackle your portfolio.
5 Ways To Wreck Your Retirement
Source: The Motley Fool
5 Ways To Wreck Your Retirement
Source: The Motley Fool
Permalink posted by armandn @ 7:41 AM
Thursday, September 28, 2006
Rules of Retirement
The recent Wealth Survey from The Phoenix Cos. shows that while more than 80% of retirees are mostly satisfied with their financial advisors, one in 10 respondents plan to look for new ones. Within that group, 41% of retirees cited poor investment returns as a reason for the change, while 35% said their advisors were not proactive. Approximately 32% of dissatisfied respondents claimed that their advisors' inability to maintain contact with them was the impetus for a new search.
Rules of Retirement
Source: On Wall Street
Rules of Retirement
Source: On Wall Street
Permalink posted by armandn @ 10:57 AM
Retirement Formula Is Misleading On How Much Money You'll Need
The conventional wisdom that you can have a comfortable retirement with 75 percent to 85 percent of your pre-retirement income has been exposed for what it is.
It's an overgeneralization that may work for some but can leave other retirees woefully short of cash if not broke in old age.
Retirement Formula Is Misleading On How Much Money You'll Need
Source: Sun-Sentinel
It's an overgeneralization that may work for some but can leave other retirees woefully short of cash if not broke in old age.
Retirement Formula Is Misleading On How Much Money You'll Need
Source: Sun-Sentinel
Permalink posted by armandn @ 10:55 AM
Bada Bing! Life Insurance Needs Ain't So Easy To Figure Out
If someone will suffer financially when you die, you need life insurance. But figuring out how much you need is not always as straightforward. When asked who needs the greatest amount of life insurance coverage, one in four Americans say that Tony Soprano needs more than other popular TV dads, Homer Simpson, Cliff Huxtable, Ray Barone, and Mike Brady. But do the experts agree?
Bada Bing! Life Insurance Needs Ain't So Easy To Figure Out
Source: Yahoo! Finance
Bada Bing! Life Insurance Needs Ain't So Easy To Figure Out
Source: Yahoo! Finance
Permalink posted by armandn @ 10:53 AM
New Web Site Is First Industrywide Resource to Provide Consumers With Comprehensive Financial Education Resources
The Financial Services Roundtable today announced the release of a new financial assistance Web site, http://www.mymoneymanagement.net, designed to provide consumers with educational tools and access to certified credit counseling if they need additional help and resources.
MyMoneyManagement.net provides resources and tips to consumers on managing finances, balancing bank accounts, recognizing the warning signs of financial trouble, applying for home loans, protecting against natural disasters and preparing for the future.
New Web Site Is First Industrywide Resource to Provide Consumers With Comprehensive Financial Education Resources
Source: PR Newswire
MyMoneyManagement.net provides resources and tips to consumers on managing finances, balancing bank accounts, recognizing the warning signs of financial trouble, applying for home loans, protecting against natural disasters and preparing for the future.
New Web Site Is First Industrywide Resource to Provide Consumers With Comprehensive Financial Education Resources
Source: PR Newswire
Permalink posted by armandn @ 10:49 AM
Wednesday, September 27, 2006
Pitching 401(k)s To Generation Y Is A Tough Sell
Financial firms are struggling to make a tough sell: Convincing 20-somethings who have barely flown the coop that it's time to put aside cash for a nest egg.
Until recently, mutual-fund companies and brokerage houses have spent far more time courting blue-blooded heirs, thrifty millionaires from the World War II generation -- and, of course, affluent baby boomers. Now, titans including mutual-fund companies FMR Corp.'s Fidelity Investments and Vanguard Group Inc. and banker Wachovia Corp. are wooing the boomers' babies, too. Their targets are the so-called echo boomers, or Generation Y, loosely defined as those 18 to 27 years old.
Pitching 401(k)s To Generation Y Is A Tough Sell
Source: WSJ Online (subscription required)
Until recently, mutual-fund companies and brokerage houses have spent far more time courting blue-blooded heirs, thrifty millionaires from the World War II generation -- and, of course, affluent baby boomers. Now, titans including mutual-fund companies FMR Corp.'s Fidelity Investments and Vanguard Group Inc. and banker Wachovia Corp. are wooing the boomers' babies, too. Their targets are the so-called echo boomers, or Generation Y, loosely defined as those 18 to 27 years old.
Pitching 401(k)s To Generation Y Is A Tough Sell
Source: WSJ Online (subscription required)
Permalink posted by armandn @ 12:03 PM
Clicking With Consumers: The Hartford Enhances Benefits Website With Personalized Info, Time Saving Tools
Life just got a little easier for group benefits customers of The Hartford Financial Services Group, Inc. They now have easier access to their benefits information and enhanced tools through the insurer's website for group disability, life and accident insurance.
A new, personalized log-in feature is just one recent enhancement to The Hartford At Work website (http://www.thehartfordatwork.com/) for faster and easier service for employees covered by The Hartford's group benefits plans. The website has been updated with new tools for employees to set up direct deposit for payment of long-term disability claims, use and print forms, and access personalized benefits account information.
Clicking With Consumers: The Hartford Enhances Benefits Website With Personalized Info, Time Saving Tools
Source: PR Newswire
A new, personalized log-in feature is just one recent enhancement to The Hartford At Work website (http://www.thehartfordatwork.com/) for faster and easier service for employees covered by The Hartford's group benefits plans. The website has been updated with new tools for employees to set up direct deposit for payment of long-term disability claims, use and print forms, and access personalized benefits account information.
Clicking With Consumers: The Hartford Enhances Benefits Website With Personalized Info, Time Saving Tools
Source: PR Newswire
Permalink posted by armandn @ 12:02 PM
New Study Finds America's Communities Are Not Prepared For An Aging Population
"The Maturing of America - Getting Communities on Track for an Aging Population," a new report led by the National Association of Area Agencies on Aging (n4a) and funded by MetLife Foundation, finds that only 46% of American communities have begun planning to address the needs of the exploding population of aging Baby Boomers. The Baby Boom generation - born between 1946 and 1964 - is rapidly approaching retirement age. When this trend hits its peak in 2030, the number of people over age 65 in the United States will soar to 71.5 million - twice their number in the year 2000- or one in every five Americans.
New Study Finds America's Communities Are Not Prepared For An Aging Population
Source: Yahoo! Finance
New Study Finds America's Communities Are Not Prepared For An Aging Population
Source: Yahoo! Finance
Permalink posted by armandn @ 12:00 PM
State Investigating Bankers Life
State officials, acting on recent complaints, said Tuesday they are investigating Bankers Life & Casualty Co.'s sales and marketing practices for Medicare supplements and other kinds of insurance sold to senior citizens.
The Connecticut Insurance Department had already found several complaints about misrepresentation to be justified.
State Investigating Bankers Life
Source: Hartford Courant
The Connecticut Insurance Department had already found several complaints about misrepresentation to be justified.
State Investigating Bankers Life
Source: Hartford Courant
Permalink posted by armandn @ 11:59 AM
New Nationwide Survey Reveals That U.S. Adults Are Alarmingly Underinsured - Almost Half Have No Life Insurance At All
Is life insurance really necessary? How much does coverage cost? What type of plan is right for me? SBLI USA Mutual Life Insurance Company, Inc. today announced the results of a nationwide survey asking adults about important life insurance needs. The results reveal that not enough adults consider how their families would survive financially if disaster were to strike.
New Nationwide Survey Reveals That U.S. Adults Are Alarmingly Underinsured - Almost Half Have No Life Insurance At All
Source: PR Newswire
New Nationwide Survey Reveals That U.S. Adults Are Alarmingly Underinsured - Almost Half Have No Life Insurance At All
Source: PR Newswire
Permalink posted by armandn @ 11:34 AM
Tuesday, September 26, 2006
U.S. Insurers Press China For Access
American life insurance companies are pressing China to make good on WTO commitments to give them equal access to its booming market, arguing that they can help meet the needs of a fast-aging population, the head of an industry group said Tuesday.
Insurers want Beijing to remove obstacles that limit their ability to set up nationwide operations and cap foreign ownership of a Chinese insurer at 50 percent, said Frank Keating, president of the American Council of Life Insurers.
U.S. Insurers Press China For Access
Source: MSN.com
Insurers want Beijing to remove obstacles that limit their ability to set up nationwide operations and cap foreign ownership of a Chinese insurer at 50 percent, said Frank Keating, president of the American Council of Life Insurers.
U.S. Insurers Press China For Access
Source: MSN.com
Permalink posted by armandn @ 11:28 AM
Financial Planners Protest Ethics Rule
A financial planning trade group said Monday that an industry ethics proposal is 'severely flawed' and needs to be withdrawn.
The Financial Planning Association told the CFP Board of Standards, which floated the proposal in July, that it's particularly concerned about a provision that would allow financial advisers to easily opt out of a 'fiduciary' obligation to put clients' interests ahead of their own.
Financial Planners Protest Ethics Rule
Source: Insurance News Net
The Financial Planning Association told the CFP Board of Standards, which floated the proposal in July, that it's particularly concerned about a provision that would allow financial advisers to easily opt out of a 'fiduciary' obligation to put clients' interests ahead of their own.
Financial Planners Protest Ethics Rule
Source: Insurance News Net
Permalink posted by armandn @ 11:14 AM
Monday, September 25, 2006
IGN More Than Doubles Number of Transition Counselors To Help With Retirement Questions From Employees Who Leave Their Job
ING, a global financial services leader, announced today it recently increased its number of Transition Counselors to respond to the growing number of Baby Boomers retiring and the younger generation that has a tendency to switch jobs more often. Transition Counseling is a service provided to employers who select ING as their retirement services provider. When an employee decides to retire or leave their job, ING Transition Counselors help answer questions and provide guidance regarding their retirement savings.
IGN More Than Doubles Number of Transition Counselors To Help With Retirement Questions From Employees Who Leave Their Job
Source: Yahoo! Finance
IGN More Than Doubles Number of Transition Counselors To Help With Retirement Questions From Employees Who Leave Their Job
Source: Yahoo! Finance
Permalink posted by armandn @ 12:02 PM
As Employees Fund And Select More Of Their Own Benefits, New MetLife Study Shows That Many Eagerly Anticipate Fall "Open Enrollment" Season
At a time when competitive pressures have forced companies to shift the financial burden for healthcare and other employee benefits from "employer" to "employee," MetLife's 2006 Study of Open Enrollment Benefits Trends shows that a majority of workers look forward to their company's Fall benefits open enrollment period. The survey reveals that most (43%) employees say their company's open enrollment period makes them feel "responsible" - like a good protector. Few employees indicate that they feel "detached" (6%), "annoyed" (3%) or "overburdened" (4%) by the selection process. And, two-thirds (66%) believe the cost of benefits offered by their employer are less expensive than if bought on an individual basis.
As Employees Fund And Select More Of Their Own Benefits, New MetLife Study Shows That Many Eagerly Anticipate Fall "Open Enrollment" Season
Source: Yahoo! Finance
As Employees Fund And Select More Of Their Own Benefits, New MetLife Study Shows That Many Eagerly Anticipate Fall "Open Enrollment" Season
Source: Yahoo! Finance
Permalink posted by armandn @ 11:59 AM
Insurers Offer More Combinations
Insurance shopping is being transformed as new legislation spurs companies to offer more combination products that link life insurance and annuities with long-term care insurance.
The Pension Protection Act of 2006, signed into law last month, allows annuity providers to offer long-term care riders and ensures that charges against annuities and permanent life insurance policies for long-term care insurance premiums aren't taxed.
InsurersOffer More Combinations
Source: Hartford Courant
The Pension Protection Act of 2006, signed into law last month, allows annuity providers to offer long-term care riders and ensures that charges against annuities and permanent life insurance policies for long-term care insurance premiums aren't taxed.
InsurersOffer More Combinations
Source: Hartford Courant
Permalink posted by armandn @ 11:56 AM
MassMutual Named a 2006 Working Mother 100 Best Company by Working Mother Magazine
Working Mother magazine today announced that Massachusetts Mutual Life Insurance Company (MassMutual) is a 2006 Working Mother 100 Best Company. For 21 years the Working Mother 100 Best Companies has celebrated employers whose groundbreaking benefits -- from flexible schedules and child care to innovative leave policies for new parents -- are helping redefine workplace standards across the nation.
MassMutual Named a 2006 Working Mother 100 Best Company by Working Mother Magazine
Source: PR Newswire
MassMutual Named a 2006 Working Mother 100 Best Company by Working Mother Magazine
Source: PR Newswire
Permalink posted by armandn @ 11:53 AM
Friday, September 22, 2006
Genetic Tests Present Slippery Ethical Slope
The advance of knowledge is often a mixed blessing. Over the past 60 years, nuclear physics has been one obvious example of this truth. Over the next 60 years, genetics may be another.
Today, enterprising firms offer, for a fee, to tell you about your genes. They claim that this knowledge will help you live longer and better.
You might, for example, have extra checkups to detect early signs of the diseases that you are most at risk of contracting, or you could alter your diet to reduce that risk.
Genetic Tests Present Slippery Ethical Slope
Source: Shanghai Daily
Today, enterprising firms offer, for a fee, to tell you about your genes. They claim that this knowledge will help you live longer and better.
You might, for example, have extra checkups to detect early signs of the diseases that you are most at risk of contracting, or you could alter your diet to reduce that risk.
Genetic Tests Present Slippery Ethical Slope
Source: Shanghai Daily
Permalink posted by armandn @ 10:03 AM
Military Sales Bills Heads to White House
Members of the House today voted 418-13 to send President Bush the Senate version of a bill that would change the rules governing sales of life insurance and other products to military service members on military bases.
Supporters of the bill, S. 418, the Military Personnel Financial Services Protection Act, say they expect the president to sign the bill
Military Sales Bills Heads to White House
Source: National Underwriter (subscription required)
Supporters of the bill, S. 418, the Military Personnel Financial Services Protection Act, say they expect the president to sign the bill
Military Sales Bills Heads to White House
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 9:58 AM
MassMutual Offers Free Life Insurance to Working Parents in New Jersey
The Lakewood Resource and Referral Center and Sam Lowy of Emerald Financial Resources/Massachusetts Mutual Life Insurance Company (MassMutual) are bringing MassMutual's LifeBridge(SM) Free Life Insurance Program to the Lakewood, New Jersey area.
MassMutual's LifeBridge is a national philanthropic program in which
the company issues 10-year term life insurance policies to eligible working
parents to help pay for the cost of their children's education in the event
they die. Through LifeBridge, $50,000 life insurance policies are issued to
a trust on the life of qualifying parents or legal guardians to help pay
for the education of their eligible children who -- in the event of a
parent's death during the policy's term -- may not be able to afford to
complete their schooling. All premiums are paid entirely by MassMutual,
with no fees ever for qualified parents or their children.
MassMutual Offers Free Life Insurance to Working Parents in New Jersey
Source: PR Newswire
MassMutual's LifeBridge is a national philanthropic program in which
the company issues 10-year term life insurance policies to eligible working
parents to help pay for the cost of their children's education in the event
they die. Through LifeBridge, $50,000 life insurance policies are issued to
a trust on the life of qualifying parents or legal guardians to help pay
for the education of their eligible children who -- in the event of a
parent's death during the policy's term -- may not be able to afford to
complete their schooling. All premiums are paid entirely by MassMutual,
with no fees ever for qualified parents or their children.
MassMutual Offers Free Life Insurance to Working Parents in New Jersey
Source: PR Newswire
Permalink posted by armandn @ 9:56 AM
Life Insurance A Cheaper Alternative To Mortgage Insurance, Experts Say
Canadians looking to wrap up new home purchases might find that life insurance is a more flexible and less pricey alternative to mortgage insurance obtained through a bank, say personal finance experts.
While most agree it makes sense to cover large debts with insurance, some argue when it comes to mortgages most consumers treat it as an afterthought and don't realize that buying through a bank can be a "costly mistake."
Life Insurance A Cheaper Alternative To Mortgage Insurance, Experts Say
Source: CBC
While most agree it makes sense to cover large debts with insurance, some argue when it comes to mortgages most consumers treat it as an afterthought and don't realize that buying through a bank can be a "costly mistake."
Life Insurance A Cheaper Alternative To Mortgage Insurance, Experts Say
Source: CBC
Permalink posted by armandn @ 9:53 AM
Thursday, September 21, 2006
Insurer Denies Merger Rumors - Again
For the second time in nine months, St. Paul Travelers Cos. is denying that it's in talks to purchase Zurich Financial Services Group of Switzerland.
Cash, a Zurich-based newspaper, published a report Thursday that the St. Paul-based insurance giant and Zurich may announce a deal in November. In March, The Wall Street Journal also reported the two companies were discussing a merger.
Insurer Denies Merger Rumors - Again
Source: StarTribune.com
Cash, a Zurich-based newspaper, published a report Thursday that the St. Paul-based insurance giant and Zurich may announce a deal in November. In March, The Wall Street Journal also reported the two companies were discussing a merger.
Insurer Denies Merger Rumors - Again
Source: StarTribune.com
Permalink posted by armandn @ 6:32 AM
Retirement: You'll Need Far More Than You Think
What you thought you needed to save for retirement may not be enough.
When the question of retirement savings comes up, the typical thinking has been that your savings plus Social Security and any pension you'll get should provide you with at least 70 percent of your pre-retirement income.
That rule-of-thumb replacement rate is based on the average needs of all retirees and it's okay as far as it goes, especially if it spurs you to start saving, which wouldn't be a bad thing considering a majority of workers between 45 and 54 have less than $50,000 in savings.
Retirement: You'll Need Far More Than You Think
Source: CNN/Money
When the question of retirement savings comes up, the typical thinking has been that your savings plus Social Security and any pension you'll get should provide you with at least 70 percent of your pre-retirement income.
That rule-of-thumb replacement rate is based on the average needs of all retirees and it's okay as far as it goes, especially if it spurs you to start saving, which wouldn't be a bad thing considering a majority of workers between 45 and 54 have less than $50,000 in savings.
Retirement: You'll Need Far More Than You Think
Source: CNN/Money
Permalink posted by armandn @ 6:31 AM
John Hancock Retirement Plan Services Study Reveals Common Concerns for 401(k) Plan Participants
In a study commissioned by John Hancock Retirement Plan Services (JHRPS), a majority of 401(k) plan participants, 69 percent, said they feel they lack investment knowledge and 67 percent said their concern about market volatility is a barrier. Other major barriers cited included lack of time and lack of planning. The survey of 600 randomly-selected 401(k) plan participants was conducted by Mathew Greenwald & Associates(1).
John Hancock Retirement Plan Services Study Reveals Common Concerns for 401(k) Plan Participants
Source: Yahoo! Finance
John Hancock Retirement Plan Services Study Reveals Common Concerns for 401(k) Plan Participants
Source: Yahoo! Finance
Permalink posted by armandn @ 6:29 AM
Sun Life Fianncial Wins Second Consecutive LOMA Educational Achievement Award
For the second consecutive year, the U.S. division of Sun Life Financial has won the Life Office Management Association (LOMA) Educational Achievement Award. Over 1,200 companies worldwide were eligible for this award, and Sun Life is one of only 15 to be recognized for its educational efforts. The company was honored in both the global and regional (U.S. & Canada) categories.
Sun Life Fianncial Wins Second Consecutive LOMA Educational Achievement Award
Source: Yahoo! Finance
Sun Life Fianncial Wins Second Consecutive LOMA Educational Achievement Award
Source: Yahoo! Finance
Permalink posted by armandn @ 6:27 AM
Wednesday, September 20, 2006
More Than One In Three Parents Without Life Insurance Say Their Children's College Dreams Would End If Their Family's Primary Wage Earner Died
Asked to assess the impact the death of the primary wage earner would have on their children's college plans, parents overwhelmingly said that their children would have to alter their plans, with repercussions ranging from taking out additional loans to being unable to afford college altogether.
More Than One In Three Parents Without Life Insurance Say Their Children's College Dreams Would End If Their Family's Primary Wage Earner Died
Source: PR Newswire
More Than One In Three Parents Without Life Insurance Say Their Children's College Dreams Would End If Their Family's Primary Wage Earner Died
Source: PR Newswire
Permalink posted by armandn @ 1:19 PM
NAIC, Trades Spar At Congressional Hearing on Insurer Investments
The National Association of Insurance Commissioners (NAIC) President and Maine Insurance Superintendent Alessandro A. Iuppa today told the House Finanacial Services Subcommittee panel today that strong financial regulation of insurance companies is essential to consumer protection and state officials are committed to an open, transparent process for accurately analyzing insurers' investments.
NAIC, Trades Spar At Congressional Hearing on Insurer Investments
Source: Insurance Journal
NAIC, Trades Spar At Congressional Hearing on Insurer Investments
Source: Insurance Journal
Permalink posted by armandn @ 1:18 PM
Series Of Online Videos Aid In Learning About Life Insurance
The subject of life insurance has long been a subject of controversy and of widely divergent and varied opinions. Should one get term life insurance? What is the problem with whole life insurance? Is the new return of premium life insurance a good idea?
Series Of Online Videos Aid In Learning About Life Insurance
Source: LifeInsure.com
Series Of Online Videos Aid In Learning About Life Insurance
Source: LifeInsure.com
Permalink posted by armandn @ 1:15 PM
Boomers at 60: Lifestyle Changes and Economic Status Challenge Marketers
With Boomers turning 60 and estimated to account for a third of U.S. economic activity, marketers are scrambling to target this unique demographic. To help organizations understand the changing needs and harness the purchasing power of this nearly- silver generation, BEYOND THE BOOMERS: The Transition Years(TM), a day-long marketing conference, is being convened October 20, 2006 at Chicago's Hilton Towers Hotel.
Boomers at 60: Lifestyle Changes and Economic Status Challenge Marketers
Source: PR Newswire
Boomers at 60: Lifestyle Changes and Economic Status Challenge Marketers
Source: PR Newswire
Permalink posted by armandn @ 1:13 PM
Tuesday, September 19, 2006
For the fourth year in a row, MetLife has received a perfect score of 100 percent in the Human Rights Campaign Foundation's (HRC) 2006 Corporate Equal
For the fourth year in a row, MetLife has received a perfect score of 100 percent in the Human Rights Campaign Foundation's (HRC) 2006 Corporate Equality Index, a rating system for how major U.S. corporations treat their gay, lesbian, bisexual and transgender (GLBT) employees and consumers.
For the fourth year in a row, MetLife has received a perfect score of 100 percent in the Human Rights Campaign Foundation's (HRC) 2006 Corporate Equal
Source: Yahoo! Finance
For the fourth year in a row, MetLife has received a perfect score of 100 percent in the Human Rights Campaign Foundation's (HRC) 2006 Corporate Equal
Source: Yahoo! Finance
Permalink posted by armandn @ 12:35 PM
While We Were Sleeping: Great Opportunities in LTCi
Much has been written and will continue to be written about the changes to Medicaid under the Deficit Reduction Act of 2005 (DRA 2005) and its affect on, among other things, the potential for long-term care insurance (LTCI) as an attractive and suitable financing tool in our clients' and our planning arsenals. While there continues to be active debate on the need for the Act from some of our colleagues (mostly in the elder bar community), and in some cases litigation about the way in which the law was enacted, we can draw at least two conclusions from it. First, the changes under the act are decidedly consumer-unfriendly as they relate to the Medicaid asset transfer strategies sometimes used in the past. Second, the act's changes represent the greatest LTCI marketing opportunity in recent memory.
While We Were Sleeping: Great Opportunities in LTCi
Source: Life Insurance Selling
While We Were Sleeping: Great Opportunities in LTCi
Source: Life Insurance Selling
Permalink posted by armandn @ 12:33 PM
Insurance Expert Warns Senior Citizens: Don't Cash In Your Life Insurance Policy
According to Daniel Katz, Vice President of Operations for Settlements for Life, senior citizens who are contemplating cashing in their life insurance policies could receive 5 times or more than the cash value of their policy by not cashing that policy in at its current cash surrender value. Instead, by using a reputable life settlement brokerage firm, a buyer can be found to purchase that policy and take over the payments on it. While the buyer ultimately reaps the larger financial benefit at the time of that person’s passing, the individual receives a lump sum payment for that policy that is typically substantially higher than the policy’s current cash surrender value."
Insurance Expert Warns Senior Citizens: Don't Cash In Your Life Insurance Policy
Source: PRWeb
Insurance Expert Warns Senior Citizens: Don't Cash In Your Life Insurance Policy
Source: PRWeb
Permalink posted by armandn @ 12:14 PM
Life Insurance Premiums Expected to Decline By 4 Percent In 2007, Says the Insurance Information Institute. Rates Fall to Lowest Level Ever.
Premiums for individual life insurance - both term life and "permanent" insurance - will drop, on average, by four percent in 2007, according to the Insurance Information Institute (I.I.I.).
"This continues a generally downward trend in life insurance premiums, which began several decades ago," said I.I.I. economist and life insurance spokesperson Dr. Steven Weisbart. "The four percent drop projected for 2007 is in line with the average five percent per year drop beginning in 2000," added Dr. Weisbart. "The result is that, in 2006, premiums are less than half of what they were over a decade ago."
Life Insurance Premiums Expected to Decline By 4 Percent In 2007, Says the Insurance Information Institute. Rates Fall to Lowest Level Ever.
Source: Insurance News Net
"This continues a generally downward trend in life insurance premiums, which began several decades ago," said I.I.I. economist and life insurance spokesperson Dr. Steven Weisbart. "The four percent drop projected for 2007 is in line with the average five percent per year drop beginning in 2000," added Dr. Weisbart. "The result is that, in 2006, premiums are less than half of what they were over a decade ago."
Life Insurance Premiums Expected to Decline By 4 Percent In 2007, Says the Insurance Information Institute. Rates Fall to Lowest Level Ever.
Source: Insurance News Net
Permalink posted by armandn @ 11:14 AM
Ask the Street: Annuity Analysis
What are the pros and cons of annuities? I am 55 years old and was forced to retire from a telecommunications company. An investor is trying to get me to give up my FDIC-insured certificates of deposit and go with a guaranteed annuity...
TheStreet: Ask the Street: Annuity Analysis
TheStreet: Ask the Street: Annuity Analysis
Permalink posted by markw @ 6:42 AM
Monday, September 18, 2006
Regulators Question Need For Travel Underwriting
Regulators and consumer advocates clashed here with actuaries and insurance group representatives over whether and how life insurance underwriters should use information about applicants’ travel plans.
Regulators Question Need For Travel Underwriting
Source: National Underwriter (subscription required)
Regulators Question Need For Travel Underwriting
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 11:11 AM
MassMutual Offers Free Life Insurance to Working Parents in South Carolina
Massachusetts Mutual Life Insurance Company (MassMutual) is bringing the company's LifeBridge(SM)Free Life Insurance Program to the Columbia, South Carolina area.
MassMutual's LifeBridge is a national philanthropic program in which
the company issues 10-year term life insurance policies to eligible working
parents to help pay for the cost of their children's education in the event
they die. Through LifeBridge, $50,000 life insurance policies are issued to
a trust on the life of qualifying parents or legal guardians to help pay
for the education of their eligible children who -- in the event of a
parent's death during the policy's term -- may not be able to afford to
complete their schooling. All premiums are paid entirely by MassMutual,
with no fees ever for qualified parents or their children.
MassMutual Offers Free Life Insurance to Working Parents in South Carolina
Source: PR Newswire
MassMutual's LifeBridge is a national philanthropic program in which
the company issues 10-year term life insurance policies to eligible working
parents to help pay for the cost of their children's education in the event
they die. Through LifeBridge, $50,000 life insurance policies are issued to
a trust on the life of qualifying parents or legal guardians to help pay
for the education of their eligible children who -- in the event of a
parent's death during the policy's term -- may not be able to afford to
complete their schooling. All premiums are paid entirely by MassMutual,
with no fees ever for qualified parents or their children.
MassMutual Offers Free Life Insurance to Working Parents in South Carolina
Source: PR Newswire
Permalink posted by armandn @ 11:09 AM
SunLife Confirms Shopping MFS
SunLife confirmed Monday it hired bankers to sell its MFS Investment Management unit.
Toronto-based SunLife said it "values MFS as a strategic asset and remains committed to growing the business organically while assessing strategic alternatives."
SunLife Confirms Shopping MFS
Source: Yahoo! Finance
Toronto-based SunLife said it "values MFS as a strategic asset and remains committed to growing the business organically while assessing strategic alternatives."
SunLife Confirms Shopping MFS
Source: Yahoo! Finance
Permalink posted by armandn @ 11:07 AM
DALBAR and PLANSPONSOR to Create Fiduciary Adviser Network (FAN)
DALBAR, Inc. and PLANSPONSOR today announced a joint venture to pre-qualify financial professionals to act as Fiduciary Advisers and to provide the due diligence and documentation required by the Pension Protection Act of 2006 (PPA). The Fiduciary Adviser Network will give plan sponsors and providers a source of advisers to support 401(k) and 403(b) plans with independent advice to plan participants.
The Fiduciary Adviser Network (FAN) is a turnkey solution designed to prepare advisers to meet the standards of prudent selection required by PPA. FAN provides the training, due diligence and access to employers that advisers need in order to realize the income opportunities of being a Fiduciary Adviser. FAN supports individual practitioners; small and large practices as well as advisory services of major RIA's, banks, insurance companies and broker/dealers.
DALBAR and PLANSPONSOR to Create Fiduciary Adviser Network Source: BusinessWire
The Fiduciary Adviser Network (FAN) is a turnkey solution designed to prepare advisers to meet the standards of prudent selection required by PPA. FAN provides the training, due diligence and access to employers that advisers need in order to realize the income opportunities of being a Fiduciary Adviser. FAN supports individual practitioners; small and large practices as well as advisory services of major RIA's, banks, insurance companies and broker/dealers.
DALBAR and PLANSPONSOR to Create Fiduciary Adviser Network Source: BusinessWire
Permalink posted by armandn @ 11:04 AM
Friday, September 15, 2006
New Studies Show Older Canadian Boomers Need To Tackle Their Retirement Homework
With everyone else heading back to school, it may be time for boomers to crack open their books for some serious retirement planning.
A recent poll for Manulife Investments suggests older Canadian boomers are not as mathematically savvy as they need to be - especially when it comes to their income after they retire.
New Studies Show Older Canadian Boomers Need To Tackle Their Retirement Homework
Source: Yahoo! Finance
A recent poll for Manulife Investments suggests older Canadian boomers are not as mathematically savvy as they need to be - especially when it comes to their income after they retire.
New Studies Show Older Canadian Boomers Need To Tackle Their Retirement Homework
Source: Yahoo! Finance
Permalink posted by armandn @ 12:58 PM
NASD Investor Alert Warns Workers About Early Retirement Investment Pitches
NASD issued an Investor Alert today warning workers about investment pitches that guarantee comfortable early retirements. These pitches -- often made at free seminars -- promise high annual returns but make little or no mention of the risks associated with the aggressive investment scenarios the early retirement packages involve. A recent NASD enforcement action identified one such scheme.
NASD Investor Alert Warns Workers About Early Retirement Investment Pitches
Source: PR Newswire
NASD Investor Alert Warns Workers About Early Retirement Investment Pitches
Source: PR Newswire
Permalink posted by armandn @ 12:56 PM
Insurance Biz Urges Hard Coverage Look
Insurance agent Clif Rosenberry knows firsthand what can happen when a family's breadwinner dies without life insurance: His brother was killed at the age of 39 in a work accident, and he didn't have his own policy.
Insurance Biz Urges Hard Coverage Look
Source: Topix.net
Insurance Biz Urges Hard Coverage Look
Source: Topix.net
Permalink posted by armandn @ 12:55 PM
Thursday, September 14, 2006
Agassi Sticks With Genworth
Andre Agassi's tennis career may have ended at the United States Open this month, but his association with Genworth Financial Inc. will live on.
Agassi Sticks With Genworth
Source: Investment News (subscription required)
Agassi Sticks With Genworth
Source: Investment News (subscription required)
Permalink posted by armandn @ 12:59 PM
Limited Benefit Long Term Care Insurance vs. Lifetime
Smart retirement planners understand the need for long term care (LTC) insurance. But how much do they need? Typical benefit periods are 2 years, 3 years, 5 years and lifetime (unlimited). Does someone need to purchase a lifetime benefit to feel secure? "Until recently, little objective data existed to guide consumers in answering this question," comments Ronald Hagelman, President of Republic Marketing Group, Inc. a national distributor of long term care insurance (http://www.SecurityAdvantageLTC.com).
Limited Benefit Long Term Care Insurance vs. Lifetime
Source: PR Newswire
Limited Benefit Long Term Care Insurance vs. Lifetime
Source: PR Newswire
Permalink posted by armandn @ 12:53 PM
NAVA Reports Second Quarter Variable Annuity Industry Data
The National Association for Variable Annuities (NAVA) announced today second quarter results for the variable annuity industry. The combined net assets of U.S. variable annuities increased slightly to $1.3 billion at the end of the second quarter, as compared to the end of the first quarter of 2006. Net assets increased by 9.3 percent relative to the second quarter one year ago.
NAVA Reports Second Quarter Variable Annuity Industry Data
Source: Insurance News Net
NAVA Reports Second Quarter Variable Annuity Industry Data
Source: Insurance News Net
Permalink posted by armandn @ 12:51 PM
MassMutual Web Site Receives No. 1 Ranking
Massachusetts Mutual Life Insurance Co. (MassMutual), based in Springfield, garnered the top spot in DALBAR Inc.'s latest WebMonitor rankings of the best Web sites in the life insurance and annuity industry.
FieldNet, the Web site for financial professionals produced by MassMutual, received an "Excellent" designation for the 9th straight quarter and earned 1st place for six of those quarters.
MassMutual Web Site Receives No. 1 Ranking
Source: Insurance Networking News
FieldNet, the Web site for financial professionals produced by MassMutual, received an "Excellent" designation for the 9th straight quarter and earned 1st place for six of those quarters.
MassMutual Web Site Receives No. 1 Ranking
Source: Insurance Networking News
Permalink posted by armandn @ 12:49 PM
Wednesday, September 13, 2006
State Insurance Regulators Offer 'Facts of Life' Tips for Consumers
Although consumers widely recognize the importance of life insurance in financially protecting their families, most need significant help in determining the type and amount of coverage appropriate at different life stages, according to the National Association of Insurance Commissioners (NAIC). Acknowledging September as "Life Insurance Awareness Month," the NAIC has assembled useful information about the subject on their consumer education Web site, Insure U.
State Insurance Regulators Offer 'Facts of Life' Tips for Consumers
Source: PR Newswire
State Insurance Regulators Offer 'Facts of Life' Tips for Consumers
Source: PR Newswire
Permalink posted by armandn @ 11:08 AM
AIG Continues to Enhance Its Annuity Portfolio with Revisions to a Popular Index Deferred Annuity
American General Life Insurance Company (American General Life), a member company of American International Group, Inc. (AIG), has recently revised the AG HorizonIndex annuity, enhancing American General Life's portfolio of immediate and deferred annuity products. Now AG HorizonIndex offers a choice between two death benefits: one that pays the full annuity value as a stream of payments; or an optional Death Benefit Rider, which pays the annuity value as a one-time lump sum.
AIG Continues to Enhance Its Annuity Portfolio with Revisions to a Popular Index Deferred Annuity
Source: Insurance News Net
AIG Continues to Enhance Its Annuity Portfolio with Revisions to a Popular Index Deferred Annuity
Source: Insurance News Net
Permalink posted by armandn @ 11:07 AM
New York Life Introduces Single-Policy Life Insurance Policy for the Entire Family
New York Life Insurance Company has announced the introduction of Family Protection Insurance – a comprehensive family life insurance plan that can meet families’ changing needs over time, all in one simple term policy.
New York Life Introduces Single-Policy Life Insurance Policy for the Entire Family
Source: dBusiness News
New York Life Introduces Single-Policy Life Insurance Policy for the Entire Family
Source: dBusiness News
Permalink posted by armandn @ 11:05 AM
The Guardian Life Insurance Company of America (Guardian), has teamed up with Warrick Dunn, running back for the Atlanta Falcons, to educate Americans
The Guardian Life Insurance Company of America (Guardian), has teamed up with Warrick Dunn, running back for the Atlanta Falcons, to educate Americans about the importance of life insurance and financial planning. Dunn's partnership with Guardian included a radio media tour on September 12 to promote Life Insurance Awareness Month.
Life Insurance Awareness Month is coordinated by the Life and Health
Insurance Foundation for Education (LIFE) and supported by the insurance
industry to increase public awareness about the importance of life
insurance.
The Guardian Life Insurance Company of America (Guardian), has teamed up with Warrick Dunn, running back for the Atlanta Falcons, to educate Americans
Source: PR Newswire
Life Insurance Awareness Month is coordinated by the Life and Health
Insurance Foundation for Education (LIFE) and supported by the insurance
industry to increase public awareness about the importance of life
insurance.
The Guardian Life Insurance Company of America (Guardian), has teamed up with Warrick Dunn, running back for the Atlanta Falcons, to educate Americans
Source: PR Newswire
Permalink posted by armandn @ 11:03 AM
Monday, September 11, 2006
Axa Equitable and Its Affiliate Introduce Living Care Protection and Extended No-Lapse Guarantee
AXA Equitable Life Insurance Company and affiliate MONY Life Insurance Company of America introduced, in states where approved, two additions to its Incentive Life(SM) (IL) variable life insurance series -- a Living Care Rider (LCR) to help safeguard retirement assets from the high costs of long-term care and a new flexible premium product with an Extended No-Lapse Guarantee -- IL(SM) Legacy. "What we're offering," said Barbara Goodstein, EVP, who made the announcement, "is innovative ways to help consumers protect their finances and way of life."
Axa Equitable and Its Affiliate Introduce Living Care Protection and Extended No-Lapse Guarantee
Source: Yahoo! Finance
Axa Equitable and Its Affiliate Introduce Living Care Protection and Extended No-Lapse Guarantee
Source: Yahoo! Finance
Permalink posted by armandn @ 8:05 AM
Pension Choices Just Got Harder
The difficult retirement choice of whether to take a lump-sum distribution from your company’s pension or a lifetime monthly annuity is getting more complex.
The recently enacted pension legislation is going to change the formulas for calculating lump-sum distributions from corporate pensions, substituting a new benchmark interest rate and adjusting mortality tables as well.
Pension Choices Just Got Harder
Source: MSNBC
The recently enacted pension legislation is going to change the formulas for calculating lump-sum distributions from corporate pensions, substituting a new benchmark interest rate and adjusting mortality tables as well.
Pension Choices Just Got Harder
Source: MSNBC
Permalink posted by armandn @ 8:03 AM
Avoiding the Long Term Care Trap
When the first Long-Term Care policies were offered 30 years ago, they were primarily for nursing home use and designed to kick in when Medicare ran out. These were not the feature- rich, comprehensive-benefit policies we see today, aimed at aging baby boomers, says Frank N. Darras, the nation's leading disability and Long-Term Care insurance lawyer.
Avoiding the Long-Term Care Trap
Source: PR Newswire
Avoiding the Long-Term Care Trap
Source: PR Newswire
Permalink posted by armandn @ 7:57 AM
NAIC Working Group OKs Hybrid Measure
Regulators have come up with a short-term method for evaluating the riskiness of the hybrid securities held in insurers’ investment portfolios.
Members of the hybrid risk-based capital working group at the National Association of Insurance Commissioners, Kansas City, Mo., endorsed the short-term measure here at the NAIC’s fall meeting.
NAIC Working Group OKs Hybrid Measure
Source: National Underwriter (subscription required)
Members of the hybrid risk-based capital working group at the National Association of Insurance Commissioners, Kansas City, Mo., endorsed the short-term measure here at the NAIC’s fall meeting.
NAIC Working Group OKs Hybrid Measure
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 7:53 AM
Friday, September 08, 2006
Protective Life and West Coast Life Introduce Innovative New Indexed Annuities with Fixed and Indexed Interest Blended in One Account
Protective Life Insurance Company today announced a significant enhancement to its Protective ProSaver® Index Series Annuities. The annuities offer purchasers the opportunity to allocate money into a combination of three interest crediting strategies: a Fixed Account; a traditional Indexed Account; and the new Fixed Rate Plus(SM) Account.
Protective Life and West Coast Life Introduce Innovative New Indexed Annuities with Fixed and Indexed
Source: Yahoo! Finance
Protective Life and West Coast Life Introduce Innovative New Indexed Annuities with Fixed and Indexed
Source: Yahoo! Finance
Permalink posted by armandn @ 11:45 AM
Indexed Annuities: Too Good To Be True
Perhaps you have heard about a miracle investment that allows you to enjoy the gains of the stock market without losing any principal. If you haven't gotten a pitch yet for an equity-indexed annuity, you probably will. Last year, consumers sunk a record $27.3 billion into these products, according to Advantage Compendium, a St. Louis-based research firm that tracks the industry. And more than 30 companies are churning out new products to capture the lucrative baby-boomer market.
Indexed Annuities: Too Good To Be True
Source: Insurance News Net
Indexed Annuities: Too Good To Be True
Source: Insurance News Net
Permalink posted by armandn @ 11:43 AM
Life Insurers Less Vulnerable to Spreads
While life insurance stocks have historically weakened in climates of rising short-term interest rates and flat yield curves, life insurers today are more resilient and less vulnerable to tight credit spreads, analysts say.
Life Insurers Less Vulnerable to Spreads
Source: Yahoo! Finance
Life Insurers Less Vulnerable to Spreads
Source: Yahoo! Finance
Permalink posted by armandn @ 11:41 AM
MassMutual Introduces a New Executive and Professional Disability Income Insurance Solution
In an effort to increase its market share in the competitive executive and professional market, Massachusetts Mutual Life Insurance Company (MassMutual) has introduced one of the industry's first comprehensive disability income insurance offerings, supported by eased underwriting requirements and higher coverage limits. Now MassMutual producers can offer qualifying executives one of the industry's highest available maximum benefits of $50,000 per month.
MassMutual Introduces a New Executive and Professional Disability Income Insurance Solution
MassMutual Introduces a New Executive and Professional Disability Income Insurance Solution
Permalink posted by armandn @ 11:38 AM
Thursday, September 07, 2006
Life Insurance In The Retirement Red Zone
The domestic individual life insurance business for Prudential Financial, Inc., announced today the reasons why consumers should consider life insurance during the Retirement Red Zone, a window consisting of the five years immediately before retirement and the first five years into retirement. Earlier this year, Prudential's Annuity business deemed the time frame critical because it's during this period that market downturns or negative investment performance can have a devastating financial effect felt years later when it's too late for retirees to recover.
Life Insurance In The Retirement Red Zone
Source: Yahoo! Finance
Life Insurance In The Retirement Red Zone
Source: Yahoo! Finance
Permalink posted by armandn @ 7:32 AM
What's the Good Word? Life Launches 'The Insurance Word' Blog to Open Discussion About Life Insurance
Life insurance information just became a little more accessible. The nonprofit Life and Health Insurance Foundation for Education (LIFE) today announced the official launch of 'The Insurance Word' Blog, the latest addition to LIFE's efforts to help educate the public about important insurance planning topics. Debuting during Life Insurance Awareness Month (LIAM) this September, the blog creates an open and direct dialogue between consumers and the insurance industry about current insurance topics and the latest personal finance news and trends.
What's the Good Word? Life Launches 'The Insurance Word' Blog to Open Discussion About Life Insurance
Source: PR Newswire
What's the Good Word? Life Launches 'The Insurance Word' Blog to Open Discussion About Life Insurance
Source: PR Newswire
Permalink posted by armandn @ 7:30 AM
Study Says Boomers Want to Save Better But Don't Always Know How; More Might Buy Annuities If They Knew More About Them
With only six to 15 years to go before they quit working, 50% of boomers aged 50 to 59 mostly agree that they don't know how much they need to save for retirement, a new study by the Guardian Life Insurance Company of America concludes.
Moreover, 60% of these leading-edge boomers agree at least somewhat that they want to save more but don't actually do so, Guardian found.
Study Says Boomers Want to Save Better But Don't Always Know How; More Might Buy Annuities If They Knew More About Them
Source: Insurance News Net
Moreover, 60% of these leading-edge boomers agree at least somewhat that they want to save more but don't actually do so, Guardian found.
Study Says Boomers Want to Save Better But Don't Always Know How; More Might Buy Annuities If They Knew More About Them
Source: Insurance News Net
Permalink posted by armandn @ 7:29 AM
New York Life Introduces Single-Policy Life Insurance Protection for the Entire Family
New York Life Insurance Company has announced the introduction of Family Protection Insurance(1) - a comprehensive family life insurance plan that can meet families' changing needs over time, all in one simple term policy.
Designed to serve younger families that often lack adequate insurance coverage, Family Protection Insurance covers both parents under one policy and gives them the ability to increase their level of coverage without requiring further proof of insurability. In addition, any increase in insurance coverage is calculated at the same premium rate that was offered when the policy was initially purchased.
New York Life Introduces Single-Policy Life Insurance Protection for the Entire Family
Source: Yahoo! Finance
Designed to serve younger families that often lack adequate insurance coverage, Family Protection Insurance covers both parents under one policy and gives them the ability to increase their level of coverage without requiring further proof of insurability. In addition, any increase in insurance coverage is calculated at the same premium rate that was offered when the policy was initially purchased.
New York Life Introduces Single-Policy Life Insurance Protection for the Entire Family
Source: Yahoo! Finance
Permalink posted by armandn @ 7:26 AM
Wednesday, September 06, 2006
Annuity Guarantees Can Fit in Your Retirement Plan
In their quest for retirement income that lasts a lifetime and has the potential for outpacing inflation, aging Baby Boomers and seniors are being pitched two alphabet-soup variable annuity guarantees: GMWBs for life and GMIBs.
I mentioned these benefits briefly in a column two months ago about retirement income options and have received dozens of e-mails from readers wanting to know more.
In industry jargon, these initials stand for "guaranteed minimum withdrawal benefit" and "guaranteed minimum income benefit." They are part of an ever-evolving breed of "living benefits" tacked onto variable annuities, which are tax-deferred, mutual fund-like investments within an insurance wrapper.
Annuity Guarantees Can Fit in Your Retirement Plan
Source: Sun-Sentinel
I mentioned these benefits briefly in a column two months ago about retirement income options and have received dozens of e-mails from readers wanting to know more.
In industry jargon, these initials stand for "guaranteed minimum withdrawal benefit" and "guaranteed minimum income benefit." They are part of an ever-evolving breed of "living benefits" tacked onto variable annuities, which are tax-deferred, mutual fund-like investments within an insurance wrapper.
Annuity Guarantees Can Fit in Your Retirement Plan
Source: Sun-Sentinel
Permalink posted by armandn @ 6:35 AM
Affluent Customers Drive Growth For MassMutual
MassMutual's Walnut Creek-based Bay Area general agency is selling life insurance like crazy. That's due to a focus on upscale customers and an expansion plan that has created three new branches in recent years with several more in the offing.
The San Francisco Bay Area Agency LLC, one of more than 80 independent MassMutual general agencies nationwide, now has $3 billion of life insurance in force, compared with $1.9 billion five years ago. Much of that growth has occurred since April 2001, when Robert Fakhimi took over as president and CEO of the agency and a MassMutual general agent. The agency boasts 35,000 Northern California policyholders, up from about 22,000 when Fakhimi arrived.
Affluent Customers Drive Growth For MassMutual
Source: Biz Journals
The San Francisco Bay Area Agency LLC, one of more than 80 independent MassMutual general agencies nationwide, now has $3 billion of life insurance in force, compared with $1.9 billion five years ago. Much of that growth has occurred since April 2001, when Robert Fakhimi took over as president and CEO of the agency and a MassMutual general agent. The agency boasts 35,000 Northern California policyholders, up from about 22,000 when Fakhimi arrived.
Affluent Customers Drive Growth For MassMutual
Source: Biz Journals
Permalink posted by armandn @ 6:34 AM
Sun Life Financial Announces SunDex Advantage - New Fixed Index Annuity Guarantee Income for Life
The U.S. division of Sun Life Financial, Inc., today announced that its newest single premium fixed index annuity (FIA), SunDex Advantage(SM), is now available for customers looking for a flexible retirement product that can guarantee income and provide access to their income if and when they need it. SunDex Advantage is unlike other FIAs because the guaranteed income for life continues even if the account value is depleted, and clients have greater control over their income with the ability to accumulate some or all of their income from year to year for a greater withdrawal amount later.
Sun Life Financial Announces SunDex Advantage - New Fixed Index Annuity Guarantee Income for Life
Source: Yahoo! Finance
Sun Life Financial Announces SunDex Advantage - New Fixed Index Annuity Guarantee Income for Life
Source: Yahoo! Finance
Permalink posted by armandn @ 6:33 AM
Tuesday, September 05, 2006
As Life Insurance Awareness Month, September Offers Educational Opportunity
September was designated Life Insurance Awareness Month (LIAM) in 2004 as a response to the fact that millions of Americans are financially vulnerable due in large part to having no life insurance or inadequate coverage.
More than 100 of the nation's leading insurance companies and industry groups are throwing their support behind the educational campaign, coordinated by the nonprofit Life and Health Insurance Foundation for Education (LIFE). The industry-wide effort will focus on coverage needs, but carriers like Guardian are committed to keep it going beyond September. It helps that LIAM coincides with the annual open-enrollment season.
As Life Insurance Awareness Month, September Offers Educational Opportunity
Source: Benefit News
More than 100 of the nation's leading insurance companies and industry groups are throwing their support behind the educational campaign, coordinated by the nonprofit Life and Health Insurance Foundation for Education (LIFE). The industry-wide effort will focus on coverage needs, but carriers like Guardian are committed to keep it going beyond September. It helps that LIAM coincides with the annual open-enrollment season.
As Life Insurance Awareness Month, September Offers Educational Opportunity
Source: Benefit News
Permalink posted by armandn @ 7:40 AM
Why Indexed Annuity Consumers Should Start Thanking the NASD
I had a comrade toward the beginning of my insurance career who seemed to be one of those true, reliable friends. She was someone whom I bonded with immediately, seemed to share many common interests with, and always held my confidences - what every woman looks for in a best friend. Then, I learned what all of the buildup had truly been about - she wanted to know if I would set her up with my good friend- the actuary in my department.
Why Indexed Annuity Consumers Should Start Thanking the NASD
Source: Insurance News Net
Why Indexed Annuity Consumers Should Start Thanking the NASD
Source: Insurance News Net
Permalink posted by armandn @ 7:38 AM
Conning Research: Variable Annuity Companies Must Manage Product Complexity to Compete
An increase in product features and guarantees have driven variable annuity growth in recent years, but a new study from Conning Research & Consulting Inc. suggests that this strategy has also greatly increased the complexity of both the products and the associated management effort required by insurers.
Conning Research: Variable Annuity Companies Must Manage Product Complexity to Compete
Source: PR Newswire
Conning Research: Variable Annuity Companies Must Manage Product Complexity to Compete
Source: PR Newswire
Permalink posted by armandn @ 7:37 AM
Illinois A.G. Sues Companies for Deceptive Mailers for Annuity Sales to Seniors
Illinois Attorney General Lisa Madigan announced her office filed two lawsuits against companies that allegedly used deceptive, unsolicited mailers to target senior citizens. The companies used the mailers to obtain personal financial information to develop sales leads for insurance agents to sell annuities and other insurance products.
According to Madigan's complaint, seniors who respond to these mailings are not told their personal financial information may be used as leads for insurance agents, telemarketers, or others who may later try to persuade them to buy annuities and other insurance products.
Illinois A.G. Sues Companies for Deceptive Mailers for Annuity Sales to Seniors
Source: Insurance Journal
According to Madigan's complaint, seniors who respond to these mailings are not told their personal financial information may be used as leads for insurance agents, telemarketers, or others who may later try to persuade them to buy annuities and other insurance products.
Illinois A.G. Sues Companies for Deceptive Mailers for Annuity Sales to Seniors
Source: Insurance Journal
Permalink posted by armandn @ 7:35 AM
Friday, September 01, 2006
UL And Mortality Measures Go To Full NAIC
A National Association of Insurance Commissioners panel has cleared a pair of major life insurance underwriting proposals for top-level review.
Regulators serving on the NAIC’s Life and Annuities Committee have endorsed a 2-part package that would set temporary rules for reserves for universal life insurance policies with secondary guarantees and create temporary preferred mortality tables.
UL And Mortality Measures Go To Full NAIC
Source: National Underwriter (subscription required)
Regulators serving on the NAIC’s Life and Annuities Committee have endorsed a 2-part package that would set temporary rules for reserves for universal life insurance policies with secondary guarantees and create temporary preferred mortality tables.
UL And Mortality Measures Go To Full NAIC
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 12:37 PM
New York Life Annuity Tied to Interest Rates: Allows Investors to Benefit from Rising Rates
When shopping for mortgages, home buyers know they can refinance if interest rates fall. But people hesitate to buy fixed income annuities because they know they can't "refinance" when rates go up.
Until now, that is. As part of a multi-option campaign to soothe consumer qualms about income annuities, New York Life has introduced a feature that lets policyholders benefit from a potential rise in a benchmark interest rate.
New York Life Annuity Tied to Interest Rates: Allows Investors to Benefit from Rising Rates
Source: Insurance News Net
Until now, that is. As part of a multi-option campaign to soothe consumer qualms about income annuities, New York Life has introduced a feature that lets policyholders benefit from a potential rise in a benchmark interest rate.
New York Life Annuity Tied to Interest Rates: Allows Investors to Benefit from Rising Rates
Source: Insurance News Net
Permalink posted by armandn @ 12:35 PM
30 and 40 Year-Olds Are The New Potential Customers For Long-Term Care Insurance
Long-term-care coverage is continually changing. Since arriving on the insurance scene 20 years ago, long-term-care insurance has experienced improvements in features and benefits, ongoing product innovations, an ever-expanding marketplace, and the growing Medicare/Medicaid crisis, which is helping convince more and more once-skeptical prospects to become long-term-care policyholders.
30 and 40 Year-Olds Are The New Potential Customers For Long-Term Care Insurance
Source: Insurance News Net
30 and 40 Year-Olds Are The New Potential Customers For Long-Term Care Insurance
Source: Insurance News Net
Permalink posted by armandn @ 12:33 PM
Term Life vs No-Lapse UL
Term life insurance is always less expensive at the time of purchase than permanent insurance, right?
Well, not anymore. As of July, online broker Insure.com showed that its lowest-priced 30-year level-premium term policy for a 57-year-old prospect had higher annual premiums than a universal life insurance policy with a secondary no-lapse guarantee.
Term Life vs No-Lapse UL
Source: A.M. Best (subscription required)
Well, not anymore. As of July, online broker Insure.com showed that its lowest-priced 30-year level-premium term policy for a 57-year-old prospect had higher annual premiums than a universal life insurance policy with a secondary no-lapse guarantee.
Term Life vs No-Lapse UL
Source: A.M. Best (subscription required)
Permalink posted by armandn @ 12:31 PM
VAs Head for Banner Year
New sales of variable annuities continued to climb through the first quarter of 2006, reaching $37.6 billion and falling just short of an all-time high for VA sales in a quarter. Those sales represent an increase of 18.9% over the first quarter of 2005. Should VA sales continue at the first quarter's furious pace, total sales for the year would reach a record-breaking $150.4 billion. Last year, which saw new sales of $131.7 billion, set the current record. Variable annuity net assets also rose by double digits last year, increasing 14.2%, to a total of $1.26 trillion.
VAs Head for Banner Year
Source: Financial Planning
VAs Head for Banner Year
Source: Financial Planning
Permalink posted by armandn @ 12:30 PM
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