Thursday, November 30, 2006
Pacific Life Insurance Names Longtime Insider As New President
Pacific Life Insurance Co. on Wednesday named a new president and chief executive to guide its continuing growth as a provider of insurance, mutual funds and other products for baby boomers and others facing retirement.
James T. Morris, 46, will take over in April from Thomas C. Sutton, 64, who will remain chairman. Morris currently is chief operating officer of the privately held Newport Beach-based company, known for its humpback whale logo.
Pacific Life Insurance Names Longtime Insider As New President
Source: LA Times
James T. Morris, 46, will take over in April from Thomas C. Sutton, 64, who will remain chairman. Morris currently is chief operating officer of the privately held Newport Beach-based company, known for its humpback whale logo.
Pacific Life Insurance Names Longtime Insider As New President
Source: LA Times
Permalink posted by armandn @ 9:46 AM 
Great-West Lifeco's U.S. Subsidiary Announces Agreement To Acquire 401(k) Retirement Plan Business
Great-West Lifeco Inc. today announced that its U.S. subsidiary, Great-West Life & Annuity Insurance Company, has reached an agreement to acquire the bundled, full-service, defined contribution - primarily 401(k) - business from U.S. Bank.
Great-West Lifeco's U.S. Subsidiary Announces Agreement To Acquire 401(k) Retirement Plan Business
Source: PR Newswire
Great-West Lifeco's U.S. Subsidiary Announces Agreement To Acquire 401(k) Retirement Plan Business
Source: PR Newswire
Permalink posted by armandn @ 9:44 AM
PriceWaterhouseCoopers Identifies Top Seven Health Industry Trends of '07
The year ahead will be a watershed for the health industries, according to PricewaterhouseCoopers LLP, as health savings accounts reach a tipping point, states act where the federal government hasn't and pressure on pricing amid demand for transparency forces pharmaceutical companies, hospitals and health plans to rethink their strategies. These are among the top issues identified by PricewaterhouseCoopers' Health Research Institute, which today released its report, "The Top Seven Health Industry Trends of '07."
PriceWaterhouseCoopers Identifies Top Seven Health Industry Trends of '07
Source: Insurance News Net
PriceWaterhouseCoopers Identifies Top Seven Health Industry Trends of '07
Source: Insurance News Net
Permalink posted by armandn @ 9:43 AM
Wednesday, November 29, 2006
Life Companies, Agents, Brokers Call For Action To Halt Speculative Uses Of Life Insurance
The American Council of Life Insurers (ACLI), the Association for Advanced Life Underwriting (AALU), the National Association of Insurance and Financial Advisors (NAIFA), and the National Association of Independent Life Brokerage Agencies (NAILBA) are calling for changes to state regulation to protect the vital, social purposes of life insurance from transactions known as stranger-originated life insurance (STOLI).
Life Companies, Agents, Brokers Call For Action To Halt Speculative Uses Of Life Insurance
Source: PR Newswire
Life Companies, Agents, Brokers Call For Action To Halt Speculative Uses Of Life Insurance
Source: PR Newswire
Permalink posted by armandn @ 10:48 AM
Life Insurance Settlement Association Supports Disclosure in New Settlement Model Acts
The Life Insurance Settlement Association will meet in conference in New York from November 29 to December 1. This will be the twelfth consecutive year for this conference, and it will occur in New York City at the Crown Plaza Hotel in Times Square. As in previous years, LISA will continue to provide leadership for the industry and to confront the challenges of the day. Industry leaders have shown confidence in LISA by breaking registration records for the conference, which is fast approaching 500 attendees.
Life Insurance Settlement Association Supports Disclosure in New Settlement Model Acts
Source: Market Wire
Life Insurance Settlement Association Supports Disclosure in New Settlement Model Acts
Source: Market Wire
Permalink posted by armandn @ 10:46 AM
New York Life Strengthens Position As Market Leader In Bank Distribution Channel With New Retirement Income Specialists
New York Life Insurance Company announced today that it is continuing to build on its success in the bank distribution of annuities by adding four new retirement income specialists to the wholesale team. These retirement income specialists will work directly with bank representatives to help increase sales of MainStay Lifetime Income Annuity.
New York Life Strengthens Position As Market Leader In Bank Distribution Channel With New Retirement Income Specialists
Source: Yahoo! Finance
New York Life Strengthens Position As Market Leader In Bank Distribution Channel With New Retirement Income Specialists
Source: Yahoo! Finance
Permalink posted by armandn @ 10:38 AM
Tuesday, November 28, 2006
MIB Life Index Report North American Life Insurance Activity Down 4.1% in October
North American application activity for individually underwritten life insurance declined -4.1% in October year-over-year, the eighth straight month where 2006 activity was below that of 2005, according to the MIB Life Index(SM). Year-to-date (YTD), U.S. and Canadian application activity is off -3.2%, compared to the same ten months in 2005.
U.S. application activity declined -3.3% in October year-over-year, all
ages combined. Application volume declined in the 0-44 and 45-59 age groups off -5.1% and -1.2%, respectively while ages 60+ increased +2.0% versus October 2005. For the first time in five years, October's monthly figures showed a decline from this past September (-1.4%). Previously, this time period has shown increases of between +0.2% and +1.5%, including 2005's increase of +1.0%.
MIB Life Index Report North American Life Insurance Activity Down 4.1% in October
Source: PR Newswire
U.S. application activity declined -3.3% in October year-over-year, all
ages combined. Application volume declined in the 0-44 and 45-59 age groups off -5.1% and -1.2%, respectively while ages 60+ increased +2.0% versus October 2005. For the first time in five years, October's monthly figures showed a decline from this past September (-1.4%). Previously, this time period has shown increases of between +0.2% and +1.5%, including 2005's increase of +1.0%.
MIB Life Index Report North American Life Insurance Activity Down 4.1% in October
Source: PR Newswire
Permalink posted by armandn @ 10:19 AM
Prudential Annuities Announces Next Innovation in Guaranteed Protection Optional Benefits
Prudential Annuities, the domestic annuity business for Prudential Financial, Inc. announced today it has launched Highest Daily Lifetime Five, a variable annuity optional living benefit that guarantees, subject to the program rules, a five percent income stream every year for life based on five percent annual compounded growth on the highest daily protected value.
The newest innovation in the Lifetime Fivesm suite of benefits, HD Lifetime Five offers investors the opportunity to increase their annuities’ income potential every day the market is open—up to 250 times a year (for the first 10 years or until the first withdrawal if earlier). The award-winning Lifetime Five was introduced in March of 2005 as the industry’s groundbreaking guaranteed-withdrawals-for life living benefit. HD Lifetime Five is available on most annuity products issued by American Skandia Life Assurance Corporation and Pruco Life Insurance Company, all Prudential Financial Companies. HD Lifetime Five is currently available in most states.
Prudential Annuities Announces Next Innovation in Guaranteed Protection Optional Benefits
Source: dBusiness News
The newest innovation in the Lifetime Fivesm suite of benefits, HD Lifetime Five offers investors the opportunity to increase their annuities’ income potential every day the market is open—up to 250 times a year (for the first 10 years or until the first withdrawal if earlier). The award-winning Lifetime Five was introduced in March of 2005 as the industry’s groundbreaking guaranteed-withdrawals-for life living benefit. HD Lifetime Five is available on most annuity products issued by American Skandia Life Assurance Corporation and Pruco Life Insurance Company, all Prudential Financial Companies. HD Lifetime Five is currently available in most states.
Prudential Annuities Announces Next Innovation in Guaranteed Protection Optional Benefits
Source: dBusiness News
Permalink posted by armandn @ 10:18 AM
Recruiting New Agents: Career Switchers Are Ideal Candidates
A real estate broker. A lawyer. An accountant. A banker. More and more, service professionals from various fields which may or may not touch insurance are becoming an attractive choice for insurance carriers and distributors looking to recruit new agents.
And why not? They bring the drive, a proven track record of success and in most cases, a book of business to boot. They have already sharpened their inborn talents with gritty real life experience. They have been down the well-trodden path of failure and have achieved the heights of success – hopefully that is.
Proven business experience sets the table for success. It also is a powerful antidote to the staggering costs of training new agents.
Recruiting New Agents: Career Switchers Are Ideal Candidates
Source: Insurance News Net
And why not? They bring the drive, a proven track record of success and in most cases, a book of business to boot. They have already sharpened their inborn talents with gritty real life experience. They have been down the well-trodden path of failure and have achieved the heights of success – hopefully that is.
Proven business experience sets the table for success. It also is a powerful antidote to the staggering costs of training new agents.
Recruiting New Agents: Career Switchers Are Ideal Candidates
Source: Insurance News Net
Permalink posted by armandn @ 10:17 AM
Monday, November 27, 2006
A Billion Dollar Retirement Rip Off
In a move that could have far-reaching consequences for a $140 billion industry, the Orange County, Fla., Sheriff’s Office has filed a class action charging units of Nationwide Financial Services with receiving illegal kickbacks from fund companies whose products it included in public employee retirement plans.
The suit, filed in United States District Court for the Southern District of Ohio, near Nationwide’s headquarters, seeks as much as several hundred million dollars and aims to include as plaintiffs some 7,600 other public employee retirement plans that are Nationwide customers.
A Billion Dollar Retirement Rip Off
Source: Forbes
The suit, filed in United States District Court for the Southern District of Ohio, near Nationwide’s headquarters, seeks as much as several hundred million dollars and aims to include as plaintiffs some 7,600 other public employee retirement plans that are Nationwide customers.
A Billion Dollar Retirement Rip Off
Source: Forbes
Permalink posted by armandn @ 7:54 AM
Insurers Want More Say In Hybrid Securities Work Plan
Representatives for insurers and Wall Street investment firms are criticizing actuaries’ efforts to update the rules for classifying the riskiness of hybrid securities.
The critics raised the complaints during a recent conference call organized by the hybrid risk-based capital working group, an arm of the National Association of Insurance Commissioners, Kansas City, Mo.
Insurers Want More Say In Hybrid Securities Work Plan
Source: National Underwriter (subscription required)
The critics raised the complaints during a recent conference call organized by the hybrid risk-based capital working group, an arm of the National Association of Insurance Commissioners, Kansas City, Mo.
Insurers Want More Say In Hybrid Securities Work Plan
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 7:53 AM
IRS Announces Increased Deductibles in 2007 for Those With Long Term Care Insurance Coverage
Higher levels of deductibility on Federal taxes for long term care insurance premiums paid in 2007 have been announced by the Internal Revenue Service.
"These increased tax deductible limits are another indication of the U.S. government's commitment to encourage Americans to purchase individual insurance coverage which will cover all or most of the costs of long term care services which may be required at some time in their lives," said Lisa Wendt, president and chief executive officer of LifeSecure Insurance Company. LifeSecure, headquartered in Brighton, Mich., offers long term care insurance to state residents.
IRS Announces Increased Deductibles in 2007 for Those With Long Term Care Insurance Coverage
Source: Insurance News Net
"These increased tax deductible limits are another indication of the U.S. government's commitment to encourage Americans to purchase individual insurance coverage which will cover all or most of the costs of long term care services which may be required at some time in their lives," said Lisa Wendt, president and chief executive officer of LifeSecure Insurance Company. LifeSecure, headquartered in Brighton, Mich., offers long term care insurance to state residents.
IRS Announces Increased Deductibles in 2007 for Those With Long Term Care Insurance Coverage
Source: Insurance News Net
Permalink posted by armandn @ 7:50 AM
Year-End Tweaks For Retirement Plan
Year-end tax planning can spill over into year-to-come tax planning. Decisions may affect 2007 as well as 2006.
And your workplace's 401(k) plan probably will let you change the size of contributions at any time, up to specified amounts. Even now, you may be able to boost your 2006 deferrals to the $15,000 maximum if you're not already at that level.
Year-End Tweaks For Retirement Plan
Source: Yahoo! Finance
And your workplace's 401(k) plan probably will let you change the size of contributions at any time, up to specified amounts. Even now, you may be able to boost your 2006 deferrals to the $15,000 maximum if you're not already at that level.
Year-End Tweaks For Retirement Plan
Source: Yahoo! Finance
Permalink posted by armandn @ 7:46 AM
Wednesday, November 22, 2006
The Hartford Purchases $247.5 Million In Collateralized Catastrophe Reinsurance From Foundation Re II
The Hartford Financial Services Group, Inc., one of the nation’s leading providers of investment and insurance products, announced today that it has purchased $247.5 million in multi-year, collateralized reinsurance from Foundation Re II Ltd., a special purpose reinsurance company incorporated in the Cayman Islands. Foundation Re II financed the reinsurance through the issuance of risk-linked securities to the capital markets.
The Hartford Purchases $247.5 Million In Collateralized Catastrophe Reinsurance From Foundation Re II
Source: dBusiness News
The Hartford Purchases $247.5 Million In Collateralized Catastrophe Reinsurance From Foundation Re II
Source: dBusiness News
Permalink posted by armandn @ 7:53 AM
Lincoln Looking To Grow Media Unit
Lincoln Financial is too busy integrating its acquisition of Jefferson Pilot Corp. earlier this year to be looking at any more life insurance merger deals, but the company is interested in enlarging the media unit it picked up in the JP deal, according to Lincoln's chief financial officer. Lincoln Financial is too busy integrating its acquisition of Jefferson Pilot Corp. earlier this year to be looking at any more life insurance merger deals, but the company is interested in enlarging the media unit it picked up in the JP deal, according to Lincoln's chief financial officer.
Lincoln Looking To Grow Media Unit
Source: Biz Journals
Lincoln Looking To Grow Media Unit
Source: Biz Journals
Permalink posted by armandn @ 7:52 AM
Phoenix, Former Reps To Settle Dispute
The Phoenix Cos. Inc. and dozens of its former sales people, who bitterly accused the company of deceit and mistreatment when it sold their unit, have agreed to settle an arbitration complaint and related court case.
The settlement, which will not involve payment or any admission of wrongdoing, would resolve allegations by former sales representatives of WS Griffith Securities. Phoenix sold Griffith, a broker-dealer, to LPL Financial Services in 2004.
Phoenix, Former Reps To Settle Dispute
Source: Hartford Courant
The settlement, which will not involve payment or any admission of wrongdoing, would resolve allegations by former sales representatives of WS Griffith Securities. Phoenix sold Griffith, a broker-dealer, to LPL Financial Services in 2004.
Phoenix, Former Reps To Settle Dispute
Source: Hartford Courant
Permalink posted by armandn @ 7:50 AM
Washington Schedules Hearing On AXA Request To Purchase Uniguard
Washington's Office of the Insurance Commissioner has scheduled a public hearing to consider a request to acquire three Washington domiciled insurers on Dec. 4. The companies are Unigard Insurance Co., Unigard Indemnity Co., and Unigard Pacific Insurance Co.
Washington Schedules Hearing On AXA Request To Purchase Uniguard
Source: Insurance Journal
Washington Schedules Hearing On AXA Request To Purchase Uniguard
Source: Insurance Journal
Permalink posted by armandn @ 7:48 AM
Tuesday, November 21, 2006
MassMutual's Emerald Financial Resources Reaches $2 Billion in Life Insurance Coverage in Force
Financial Resources, a Massachusetts Mutual Life Insurance Company (MassMutual) general agency based in Bridgewater, NJ, announced today it has reached a key milestone in its business -- $2 billion of life insurance coverage in force issued by MassMutual and its affiliates.
MassMutual's Emerald Financial Resources Reaches $2 Billion in Life Insurance Coverage in Force
Source: PR Newswire
MassMutual's Emerald Financial Resources Reaches $2 Billion in Life Insurance Coverage in Force
Source: PR Newswire
Permalink posted by armandn @ 11:18 AM
New Lincoln Group To Focus On Retirement Security
Lincoln National Corp. has created an organization to engage all the lines of its traditional business in strengthening its leadership in the retirement income security market.
The Philadelphia-based insurance and financial services company said it has formed a Retirement Income Security Ventures group for that purpose and promoted Heather Dzielak, vice president of Lincoln's variable annuity business, to oversee it.
New Lincoln Group To Focus On Retirement Security
Source: FW Daily News
The Philadelphia-based insurance and financial services company said it has formed a Retirement Income Security Ventures group for that purpose and promoted Heather Dzielak, vice president of Lincoln's variable annuity business, to oversee it.
New Lincoln Group To Focus On Retirement Security
Source: FW Daily News
Permalink posted by armandn @ 11:17 AM
Insurers To Test VA Reserving Method
An arm of the National Association of Insurance Commissioners is trying to find out how insurers will apply a principles-based approach to computing variable annuity reserves.
The regulators hope to have results of an insurer VA reserve survey back by the end of the year, according to Larry Bruning, chief actuary with the Kansas Department of Insurance.
Insurers To Test VA Reserving Method
Source: National Underwriter (subscription require)
The regulators hope to have results of an insurer VA reserve survey back by the end of the year, according to Larry Bruning, chief actuary with the Kansas Department of Insurance.
Insurers To Test VA Reserving Method
Source: National Underwriter (subscription require)
Permalink posted by armandn @ 11:16 AM
Jackson Launches Retirement & Wealth Group
Jackson National Life Insurance Company launched the Retirement and Wealth Strategies Group today, a unit that will focus on helping advisers better address their clients' retirement planning needs.
The Denver-based unit will be helmed by Peter Radloff, who was previously vice president of Advanced Markets for Jackson National Life Distributors LLC.
Jackson Launches Retirement & Wealth Group
Source: Investment News (subscription required)
The Denver-based unit will be helmed by Peter Radloff, who was previously vice president of Advanced Markets for Jackson National Life Distributors LLC.
Jackson Launches Retirement & Wealth Group
Source: Investment News (subscription required)
Permalink posted by armandn @ 11:14 AM
Monday, November 20, 2006
HSAs Likely To Be Under Fire In Next Congress: Will Their Loss Be LTC's Gain Under Democrats?
Floundering health savings account legislation in a Democratic-controlled Congress might affect long-term-care insurance, industry observers say.
One scenario is that LTC sales could go up if people decide to buy the insurance instead of establishing an HSA to pay LTC costs.
HSAs Likely To Be Under Fire In Next Congress: Will Their Loss Be LTC's Gain
Source: Investment News (subscription required)
One scenario is that LTC sales could go up if people decide to buy the insurance instead of establishing an HSA to pay LTC costs.
HSAs Likely To Be Under Fire In Next Congress: Will Their Loss Be LTC's Gain
Source: Investment News (subscription required)
Permalink posted by armandn @ 11:26 AM
Lawsuits Spotlight Hidden 401(k) Fees
Employees at 10 of the nation's largest companies recently shook the 401(k) world by suing their employers over their plans' fees.
The workers say the employers failed to make sure the plan fees are reasonable, as required. By taking their gripes to court, they are shining a light on the investing and administrative fees that go into a 401(k).
Lawsuits Spotlight Hidden 401(k) Fees
Source: Hartford Courant
The workers say the employers failed to make sure the plan fees are reasonable, as required. By taking their gripes to court, they are shining a light on the investing and administrative fees that go into a 401(k).
Lawsuits Spotlight Hidden 401(k) Fees
Source: Hartford Courant
Permalink posted by armandn @ 11:23 AM
Retirement Planners Target Baby Boomers
Before David Filkins retired from his job as a computer software engineer, he wanted to make sure that all the calculations he had done about financing his retirement years were on target.
So he reran the numbers using Fidelity Investments' retirement income planner, an online tool that consumers can use on their own or with the help of financial advisers to evaluate retirement goals and investment strategies.
Retirement Planners Target Baby Boomers
Source: Baltimore Sun
So he reran the numbers using Fidelity Investments' retirement income planner, an online tool that consumers can use on their own or with the help of financial advisers to evaluate retirement goals and investment strategies.
Retirement Planners Target Baby Boomers
Source: Baltimore Sun
Permalink posted by armandn @ 11:20 AM
MetLife's 'Personal Pension Builder' Serves As Foundation For Guaranteed Income Stream
Concerned that working Americans simply aren't salting away enough income for retirement, MetLife has embarked on an education campaign whose centerpiece involves the creation of a personal financial safety net.
"We think it's critical for people to understand that income annuities are a critical component of a well-balanced retirement portfolio," says Jody Strakosch, national marketing director, institutional income annuities for MetLife.
MetLife's 'Personal Pension Builder' Serves As Foundation For Guaranteed Income Stream
Source: Benefit News
"We think it's critical for people to understand that income annuities are a critical component of a well-balanced retirement portfolio," says Jody Strakosch, national marketing director, institutional income annuities for MetLife.
MetLife's 'Personal Pension Builder' Serves As Foundation For Guaranteed Income Stream
Source: Benefit News
Permalink posted by armandn @ 11:20 AM
Friday, November 17, 2006
Workers Want Automated Retirement Plans
Many employees would just as soon let someone else manage their retirement savings.
Researchers in the retirement services unit at Prudential Financial Inc., Newark, N.J., have published figures supporting that conclusion in a summary of results from a recent worker survey.
Workers Want Automated Retirement Plans
Source: National Underwriter (subscription required)
Researchers in the retirement services unit at Prudential Financial Inc., Newark, N.J., have published figures supporting that conclusion in a summary of results from a recent worker survey.
Workers Want Automated Retirement Plans
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 7:08 AM
Life Settlement Firm Announces Its Full-Disclosure Initiative
Milestone Providers, a Pennsylvania-based life settlement provider, has announced the launch of its Full-Disclosure Initiative for life settlement transactions. The decision to launch the initiative comes after discussions with several of Milestone’s institutional investors.
“Our approach has always been the same - open and transparent transactions. With recent developments in our industry, we have decided to initiate Milestone’s Full-Disclosure Requirements, and make full disclosure standard operating procedure for every transaction” stated Kristian Armstrong, CEO of Milestone.
Life Settlement Firm Announces Its Full-Disclosure Initiative
Source: Property and Casualty.com
“Our approach has always been the same - open and transparent transactions. With recent developments in our industry, we have decided to initiate Milestone’s Full-Disclosure Requirements, and make full disclosure standard operating procedure for every transaction” stated Kristian Armstrong, CEO of Milestone.
Life Settlement Firm Announces Its Full-Disclosure Initiative
Source: Property and Casualty.com
Permalink posted by armandn @ 7:07 AM
Most Reluctant To Buy Annuities For Retirement
Among economists and academics, a consensus is growing that annuitization--exchanging a lump sum of money for a lifetime income stream--can go a long way toward helping provide retirement security for millions of Americans.
Most Reluctant To Buy Annuities For Retirement
Source: Chicago Tribune
Most Reluctant To Buy Annuities For Retirement
Source: Chicago Tribune
Permalink posted by armandn @ 7:05 AM
Are Client Seminars Still A Viable Option?
Many producers find seminars the most effective way to market their services.
Recently, there have been advertisements and articles about "free lunch" seminars for seniors. If you have seen or read any of these ads and articles, you will realize one thing — they are nothing new.
Are Client Seminars Still A Viable Option?
Source: Life Insurance Selling
Recently, there have been advertisements and articles about "free lunch" seminars for seniors. If you have seen or read any of these ads and articles, you will realize one thing — they are nothing new.
Are Client Seminars Still A Viable Option?
Source: Life Insurance Selling
Permalink posted by armandn @ 7:03 AM
Tuesday, November 14, 2006
Nationwide Encourages Americans To Participate In National Retirement Planning Week
Do you know if you're financially prepared for retirement? According to research by the Center for Retirement Research at Boston College and funded by a grant from Nationwide, 43 percent of Americans are at risk of being financially unprepared for retirement.
Nationwide Encourages Americans To Participate In National Retirement Planning Week
Source: PR Newswire
Nationwide Encourages Americans To Participate In National Retirement Planning Week
Source: PR Newswire
Permalink posted by armandn @ 1:23 PM
Northwestern Mutual Named One of America's "Best Companies To Sell For" for Fourth Consecutive Year
For the fourth consecutive year, Northwestern Mutual has been named one of "The 50 Best Companies to Sell For" in the November/December issue of Selling Power magazine. The leading sales force publication's annual ranking recognized Milwaukee-based Northwestern Mutual as the second best service company to sell for, a position the company has held for two straight years.
Northwestern Mutual Named One of America's "Best Companies To Sell For" for Fourth Consecutive Year
Source: Insurance News Net
Northwestern Mutual Named One of America's "Best Companies To Sell For" for Fourth Consecutive Year
Source: Insurance News Net
Permalink posted by armandn @ 1:21 PM
John Hancock Launches Lifecycle Portfolios, a New Suite of Asset Allocation Funds
John Hancock Retirement Plan Services announced today that nine new asset allocation funds have been added to its investment lineup. John Hancock Lifecycle Portfolios feature eight target date funds and the Retirement Portfolio. The Lifecycle Portfolios will be an option available to participants through John Hancock 401(k) plans.
John Hancock Launches Lifecycle Portfolios, a New Suite of Asset Allocation Funds
Source: Yahoo! Finance
John Hancock Launches Lifecycle Portfolios, a New Suite of Asset Allocation Funds
Source: Yahoo! Finance
Permalink posted by armandn @ 1:20 PM
ING Offers Insurance Producers Blueprints for Business
ING has introduced a new comprehensive marketing and sales program aimed at making it easier for life insurance producers to better serve their business clients. The program, dubbed Blueprints for Business, offers support in the sales process from prospecting through the close of a sale through interactive software, an updated web site, high-end marketing materials, and regional seminars.
ING Offers Insurance Producers Blueprints for Business
Source: Yahoo! Finance
ING Offers Insurance Producers Blueprints for Business
Source: Yahoo! Finance
Permalink posted by armandn @ 1:17 PM
Monday, November 13, 2006
New AIG VALIC/Harris Interactive Study Suggests That Educators Are Better Prepared For Retirement Than Many U.S. Adults
A new study sponsored by AIG VALIC, a national leading provider of retirement plan services to for-profit and not-for-profit education, healthcare and government organizations, and conducted by Harris Interactive®, strongly suggests that teachers are well ahead of many U.S. adults in preparing for retirement. Based on comprehensive interviews with nearly 2,000 U.S. adults between the ages of 45 and 65, the study indicated that teachers not only exhibited better planning and saving habits than the general population, but they also expressed higher levels of confidence that they would hit established savings targets and achieve a comfortable retirement.
New AIG VALIC/Harris Interactive Study Suggests That Educators Are Better Prepared For Retirement Than Many U.S. Adults
Source: BusinessWire
New AIG VALIC/Harris Interactive Study Suggests That Educators Are Better Prepared For Retirement Than Many U.S. Adults
Source: BusinessWire
Permalink posted by armandn @ 11:28 AM
Togetherness Cracks When It Comes To Nest Egg
As couples save for retirement, conventional wisdom says they get more for their investing buck by working as a team.
That can mean picking the best investments from two retirement plans so the overall nest egg is properly allocated among various asset classes, or coordinating insurance-buying decisions to take advantage of breaks for couples.
Togetherness Cracks When It Comes To Nest Egg
Source: Hartford Courant
That can mean picking the best investments from two retirement plans so the overall nest egg is properly allocated among various asset classes, or coordinating insurance-buying decisions to take advantage of breaks for couples.
Togetherness Cracks When It Comes To Nest Egg
Source: Hartford Courant
Permalink posted by armandn @ 11:22 AM
MassMutual To Pay $1.25 Billion Dividend To Policyholders
Massachusetts Mutual Life Insurance Company (MassMutual) announced today the distribution of approximately $1.25 billion to eligible participating policyholders under the estimated dividend payout for 2007 -- the highest ever in the company's 155-year history.
MassMutual To Pay $1.25 Billion Dividend To Policyholders
Source: PR Newswire
MassMutual To Pay $1.25 Billion Dividend To Policyholders
Source: PR Newswire
Permalink posted by armandn @ 11:19 AM
As 401(k) and Other Defined Contribution Plans Grow in Popularity U.S. Retirement Accounts are At Risk
Millions of Americans are ignoring the impact that an illness or a disability can have on their retirement savings according to a new survey by The Guardian Life Insurance Company of America (Guardian). The study entitled Insurance & Behavior -- Spotlight on IDI shows that nearly half (48%) of Americans say they would probably have to stop making contributions to their retirement account should they become
disabled.
As 401(k) and Other Defined Contribution Plans Grow in Popularity U.S. Retirement Accounts are At Risk
Source: PR Newswire
disabled.
As 401(k) and Other Defined Contribution Plans Grow in Popularity U.S. Retirement Accounts are At Risk
Source: PR Newswire
Permalink posted by armandn @ 10:16 AM
Friday, November 10, 2006
Tillinghast Survey Finds Increasingly Complex Regulations And Interest Rates Are Top Life Insurance CFO Concerns For 2007
More than three-quarters (77%) of life insurance CFOs cited the growing level and complexity of regulations as their biggest concern for the market and economic environment in 2007, according to the latest CFO survey from the Tillinghast business of Towers Perrin. Interest rates were a close second, with 70% of respondents citing concerns about potential volatility in rates as a key challenge.
Tillinghast Survey Finds Increasingly Complex Regulations And Interest Rates Are Top Life Insurance CFO Concerns For 2007
Source: Insurance News Net
Tillinghast Survey Finds Increasingly Complex Regulations And Interest Rates Are Top Life Insurance CFO Concerns For 2007
Source: Insurance News Net
Permalink posted by armandn @ 9:34 AM
Nearly $8 Million In New York Life Settlement Checks To Be Distributed To Heirs Of Armenian Genocide Victims
Settlement checks totaling $7,954,362.24 will be distributed this week to more than 2,500 Armenian descendants of victims massacred in the 1915 Armenian Genocide. The checks are a share of a multi million dollar settlement in a class action lawsuit brought against New York Life Insurance Company for unpaid life insurance benefits.
Nearly $8 Million In New York Life Settlement Checks To Be Distributed To Heirs Of Armenian Genocide Victims
Source" PR Newswire
Nearly $8 Million In New York Life Settlement Checks To Be Distributed To Heirs Of Armenian Genocide Victims
Source" PR Newswire
Permalink posted by armandn @ 9:33 AM
Canadians Waiting Too Long To Start Planning For Retirement: Survey
A survey released today by Desjardins Financial Security (DFS) indicates the message that people need to stash away some savings for retirement is catching on with Canadians. The bad news is the message is not resonating with people until they reach their 30s or even into their 40s and beyond.
Canadians Waiting Too Long To Start Planning For Retirement: Survey
Source: Investment Executive
Canadians Waiting Too Long To Start Planning For Retirement: Survey
Source: Investment Executive
Permalink posted by armandn @ 9:30 AM
John Hancock Introduces New Partnership LTC Insurance Plans In New York
John Hancock Life Insurance Company today introduced five new comprehensive long term care (LTC) Insurance plans in New York. Developed in collaboration with the New York State Partnership for Long Term Care office, the policies help preserve clients' assets if long term care services are needed and provide state Medicaid assistance if they qualify for and need extended care. John Hancock is offering the partnership plans in New York in addition to its newest non-Partnership policy called Leading Edge, which was introduced in early October.
John Hancock Introduces New Partnership LTC Insurance Plans In New York
Source: PR Newswire
John Hancock Introduces New Partnership LTC Insurance Plans In New York
Source: PR Newswire
Permalink posted by armandn @ 9:29 AM
Thursday, November 09, 2006
Life Insurance And Kids: A Matter Of Trust
At some time or other, all parents worry about what will happen to their children if one or both parents were to die prematurely. Often, life insurance is the first place parents turn when these worries arise. Although life insurance may be a good source of income for your children if you die, before buying a policy you should carefully consider whether or not you really need it, what type of policy is best and who should manage the proceeds on behalf of your children.
Life Insurance And Kids: A Matter Of Trust
Source: Forbes
Life Insurance And Kids: A Matter Of Trust
Source: Forbes
Permalink posted by armandn @ 10:54 AM
A Financial Time Bomb Awaits Vast Majority Of Americans
Running out of money is the number one retirement concern for the majority of respondents, according to a new survey by Brown & Tedstrom, Inc., a Denver-based financial planning and investment advisory firm that manages over $300 million in assets for people in or near retirement. In spite of this, the same majority is only saving 10 percent or less of their current income and can only live 10 years or less on their current savings.
A Financial Time Bomb Awaits Vast Majority Of Americans
Source: Insurance News Net
A Financial Time Bomb Awaits Vast Majority Of Americans
Source: Insurance News Net
Permalink posted by armandn @ 10:52 AM
The Hartford Announces Settlement Agreement With The Securities And Exchange Commission
The Hartford Financial Services Group, Inc. announced today that it reached a settlement with the Securities and Exchange Commission (SEC) that resolves the issues related to the SEC’ s investigation into the use of directed brokerage and revenue sharing in its mutual fund and variable annuity businesses.
The Hartford Announces Settlement Agreement With The Securities And Exchange Commission
Source: Business Wire
The Hartford Announces Settlement Agreement With The Securities And Exchange Commission
Source: Business Wire
Permalink posted by armandn @ 10:50 AM
The 'Dark Side' Of Life Insurance Settlements
National insurance regulators plan to crack down on companies that pay elderly people to buy life insurance with the intention of selling their policies to investment groups.
The practice is an unsavory variation on "life settlements," which are a legitimate way for people to get fair payment for insurance policies they no longer need.
The 'Dark Side' Of Life Insurance Settlements
Source: Insurance News Net
The practice is an unsavory variation on "life settlements," which are a legitimate way for people to get fair payment for insurance policies they no longer need.
The 'Dark Side' Of Life Insurance Settlements
Source: Insurance News Net
Permalink posted by armandn @ 10:48 AM
Wednesday, November 08, 2006
Americans Expecting Family and Friends, Not Savings or Insurance, to Provide for Their Long-Term Care Needs
Mom's tender loving care may be a comforting thought when you're sick for a few days, but would your mindset change if you needed help for several years instead? Apparently not, according to a new survey by the Life and Health Insurance Foundation for Education (LIFE). Nearly four in ten Americans say they would turn to family and friends if they were ever to need long-term care services, compared to relatively few who say they plan to rely on insurance or private savings.
Americans Expecting Family and Friends, Not Savings or Insurance, to Provide for Their Long-Term Care Needs
Source: PR Newswire
Americans Expecting Family and Friends, Not Savings or Insurance, to Provide for Their Long-Term Care Needs
Source: PR Newswire
Permalink posted by armandn @ 12:31 PM
John Hancock's S&P Rating Upgraded to 'AAA'
John Hancock today announced that Standard & Poor's Rating Services (S&P) has upgraded the financial strength rating of its insurance subsidiaries from 'AA+' to 'AAA'. The upgrades are effective today.
The upgrade was part of a broader action by S&P regarding John Hancock's parent company, Manulife Financial; the ratings of Manulife's insurance subsidiaries were increased from 'AA+' to 'AAA'.
John Hancock's S&P Rating Upgraded to 'AAA'
Source: Yahoo! Finance
The upgrade was part of a broader action by S&P regarding John Hancock's parent company, Manulife Financial; the ratings of Manulife's insurance subsidiaries were increased from 'AA+' to 'AAA'.
John Hancock's S&P Rating Upgraded to 'AAA'
Source: Yahoo! Finance
Permalink posted by armandn @ 12:29 PM
Erie Family Life Insurance Company Executive Retires; Succession Plan Announced
Erie Indemnity Company today announced the retirement of John J. Brinling, Jr., CPCU, executive vice president, Erie Family Life Insurance Company (EFL), an affiliated company of the Erie Insurance Group. Brinling will retire December 31, 2006. His successor, Kevin A. Marti, FSA, CLU, ChFC, currently serves as senior vice president and division officer of Erie Family Life. Marti joined EFL in February 2006 and has more than 26 years in life insurance actuarial, financial, marketing and management experience. Marti will become EFL's executive vice president on January 1, 2007.
Erie Family Life Insurance Company Executive Retires; Succession Plan Announced
Source: Insurance News Net
Erie Family Life Insurance Company Executive Retires; Succession Plan Announced
Source: Insurance News Net
Permalink posted by armandn @ 12:27 PM
Genworth Financial To Buy Back 9 Million Shares at $32 Each
Genworth Financial Inc.on Wednesday said it has agreed to repurchase 9 million of its own shares at a price of $32 in a privately negotiated transaction.
Genworth Financial To Buy Back 9 Million Shares at $32 Each
Source: CBS MarketWatch
Genworth Financial To Buy Back 9 Million Shares at $32 Each
Source: CBS MarketWatch
Permalink posted by armandn @ 12:26 PM
Tuesday, November 07, 2006
How To Handle Beneficiary Designations
The decision about how to designate beneficiaries for your company retirement plan, life insurance policies, and other assets might seem like a no-brainer. Chances are you would like those near and dear to you to inherit any money you've accumulated during your lifetime, so making sure that happens should be as simple as writing their names on the appropriate forms, right?
How To Handle Beneficiary Designations
Source: Morningstar
How To Handle Beneficiary Designations
Source: Morningstar
Permalink posted by armandn @ 7:06 AM
Phoenix Offers Incentives For Keeping Weight Off
The Phoenix wants to know as it becomes the first life insurer to offer discounts of up to 20 percent to people who buy certain policies and maintain a healthy body mass index over time.
Phoenix Offers Incentives For Keeping Weight Off
Source: Hartford Courant
Phoenix Offers Incentives For Keeping Weight Off
Source: Hartford Courant
Permalink posted by armandn @ 7:05 AM
MetLife and Wachovia Securities Build On Alliance To Offer Variable Annuities
MetLife Investors Distribution Company (MetLife Investors) announced today its expanded partnership with Wachovia Securities, LLC to offer certain MetLife Investors variable annuities and its suite of optional living benefits in Wachovia bank locations across the U.S. The products are made available to customers through approved Wachovia Securities financial advisors in the firm's Investment Services Group.
MetLife and Wachovia Securities Build On Alliance To Offer Variable Annuities
Source: Yahoo! Finance
MetLife and Wachovia Securities Build On Alliance To Offer Variable Annuities
Source: Yahoo! Finance
Permalink posted by armandn @ 7:03 AM
Lincoln Financial Group Enhances Variable Annuity Option, Lincoln 'SmartSecurity Advantage' To Offer Greater Flexibility.
Lincoln Financial Group announced today the enhancement of Lincoln SmartSecurity(SM) Advantage, a popular feature available in Lincoln's variable annuities, which allows clients to protect their principal investment, while locking in market gains. The enhanced rider now offers the investor greater flexibility and control by providing additional options to receive guaranteed income for life for the client as well as his or her spouse. Spousal coverage is offered for a minimal increase to the standard rider charge.
Lincoln Financial Group Enhances Variable Annuity Option, Lincoln 'SmartSecurity Advantage' To Offer Greater Flexibility.
Lincoln Financial Group Enhances Variable Annuity Option, Lincoln 'SmartSecurity Advantage' To Offer Greater Flexibility.
Permalink posted by armandn @ 7:01 AM
Friday, November 03, 2006
Should You Annuitize Your Retirement Savings?
So you've done it. You've saved a big pot of money for retirement. And now you need to make sure that money lasts as long as you do. Annuities, in their simplest form, insure you against a long life that outlives your assets. Here is how to decide whether an annuity is right for you.
Should You Annuitize Your Retirement Savings?
Source: U.S. News & World Report
Should You Annuitize Your Retirement Savings?
Source: U.S. News & World Report
Permalink posted by armandn @ 12:13 PM
The Flexible Product That Lasts A Lifetime
“What clients are looking for today is flexibility,” says Meridee Maynard. “This is the million dollar word now. While we all know about life insurance and the death benefit it provides, the thing to start focusing on again is the living benefits.”
The Flexible Product That Lasts A Lifetime
Source: National Underwriter (subscription required)
The Flexible Product That Lasts A Lifetime
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 12:12 PM
Annuities Should Be Part Of Your Financial Safety Net In Retirement
Among economists and academicians, there is growing consensus that annuitization, exchanging a lump sum of money for a lifetime income stream, can go a long way toward helping provide retirement security for millions of Americans.
Annuities Should Be Part Of Your Financial Safety Net In Retirement
Source: LA Times
Annuities Should Be Part Of Your Financial Safety Net In Retirement
Source: LA Times
Permalink posted by armandn @ 12:11 PM
Lincoln National To Buy Back 2.3M Shares By Year End
Lincoln National Corporation today announced that it entered into an agreement to purchase approximately 2.3 million shares of its common stock from a third-party broker-dealer using an accelerated stock repurchase program for an initial purchase price of $150 million. Under the terms of the arrangement, Lincoln may receive, or be required to pay, a price adjustment based on the volume weighted average market price of Lincoln National Corporation common stock during the term of the program. The price adjustment can be settled, at Lincoln's option, in cash or in shares of its common stock. Lincoln expects the program to be completed in the fourth quarter of 2006.
Lincoln National To Buy Back 2.3M Shares By Year End
Source: PR Newswire
Lincoln National To Buy Back 2.3M Shares By Year End
Source: PR Newswire
Permalink posted by armandn @ 12:09 PM
Thursday, November 02, 2006
Metropolitan Life Becomes First Insurance Company to Join FHLBNY
Metropolitan Life Insurance Company ("MetLife") has been approved for membership at the Federal Home Loan Bank of New York ("FHLBNY"). Metropolitan Life Insurance Company is the first life insurance company to become a member of the FHLBNY, a regional wholesale bank. The FHLBNY advances housing opportunity and local community development by maximizing the capacity of its member-lenders to serve their markets.
Metropolitan Life Becomes First Insurance Company to Join FHLBNY
Source: Yahoo! Finance
Metropolitan Life Becomes First Insurance Company to Join FHLBNY
Source: Yahoo! Finance
Permalink posted by armandn @ 7:49 AM
The Life Settlement Institute Reaffirmed Its Pro-Consumer and Pro-Competition Efforts
The Life Settlement Institute (LSI), the leading organization representing secondary market providers for life insurance, reaffirmed today its pro-consumer and pro-competition efforts to regulate life settlements.
LSI has been the leading organization in promoting and supporting
strong regulation of the life settlement market and in promoting best
practices within the industry. LSI and its members have successfully
advocated for the passage of every state settlement law adopted since 2001, all of which are based on the model laws of the National Association of Insurance Commissioners (NAIC) and the National Conference of Insurance Legislators (NCOIL).
The Life Settlement Institute Reaffirmed Its Pro-Consumer and Pro-Competition Efforts
Source: PR Newswire
LSI has been the leading organization in promoting and supporting
strong regulation of the life settlement market and in promoting best
practices within the industry. LSI and its members have successfully
advocated for the passage of every state settlement law adopted since 2001, all of which are based on the model laws of the National Association of Insurance Commissioners (NAIC) and the National Conference of Insurance Legislators (NCOIL).
The Life Settlement Institute Reaffirmed Its Pro-Consumer and Pro-Competition Efforts
Source: PR Newswire
Permalink posted by armandn @ 7:44 AM
Life Insurance Carriers Struggle With Automating The Underwriting Process
Many US life insurance industry executives believe their respective companies are late adopters in regard to the automation of the life insurance underwriting process, according to a 2006 survey conducted by TowerGroup in partnership with industry publication Insurance Networking News.
The survey, which polled a representative sample of US life insurance industry executives representing the spectrum of life insurance products offered in the marketplace, revealed that growing revenues, improving profitability, and driving operational efficiency head the list of life insurance carriers' top strategic business initiatives. However, TowerGroup discovered that life insurers feel their ability to meet these goals is constrained by technological inefficiencies -- ones that could be ameliorated by IT investments targeted to support product management, operations, and distribution.
Life Insurance Carriers Struggle With Automating The Underwriting Process
Source: Insurance News Net
The survey, which polled a representative sample of US life insurance industry executives representing the spectrum of life insurance products offered in the marketplace, revealed that growing revenues, improving profitability, and driving operational efficiency head the list of life insurance carriers' top strategic business initiatives. However, TowerGroup discovered that life insurers feel their ability to meet these goals is constrained by technological inefficiencies -- ones that could be ameliorated by IT investments targeted to support product management, operations, and distribution.
Life Insurance Carriers Struggle With Automating The Underwriting Process
Source: Insurance News Net
Permalink posted by armandn @ 7:37 AM
John Hancock Research Shows Financial Gifts for College Education Popular and Necessary
* More than two thirds of parents and nearly one half of grandparents have given or plan to give contributions
* Nearly half of parents counting on help to pay for education
* Most feel giving needs no special occasion
Gifts of financial support for college education are popular among parents and grandparents, according to a national survey of 2,000 conducted by Synovate for John Hancock. More than two-thirds (66.9%) of parents, and nearly half (46.5%) of grandparents surveyed said they had or planned to give financial gifts to their(grand)children for their college education.
John Hancock Research Shows Financial Gifts for College Education Popular and Necessary
Source: Yahoo! Finance
* Nearly half of parents counting on help to pay for education
* Most feel giving needs no special occasion
Gifts of financial support for college education are popular among parents and grandparents, according to a national survey of 2,000 conducted by Synovate for John Hancock. More than two-thirds (66.9%) of parents, and nearly half (46.5%) of grandparents surveyed said they had or planned to give financial gifts to their(grand)children for their college education.
John Hancock Research Shows Financial Gifts for College Education Popular and Necessary
Source: Yahoo! Finance
Permalink posted by armandn @ 7:29 AM
Wednesday, November 01, 2006
Modified Single-Premium Policy Allows Multiple Payments
Transamerica Occidental Life Insurance Company has introduced the TransProtector life insurance policy.
The modified single-premium universal life insurance policy offers purchasers a choice between making a single payment or paying the premiums annually over a period of 2 to 10 years, according to Transamerica Occidental, Los Angeles, a unit of AEGON N.V., The Hague, Netherlands.
Modified Single-Premium Policy Allows Multiple Payments
Source: National Underwriter (subscription required)
The modified single-premium universal life insurance policy offers purchasers a choice between making a single payment or paying the premiums annually over a period of 2 to 10 years, according to Transamerica Occidental, Los Angeles, a unit of AEGON N.V., The Hague, Netherlands.
Modified Single-Premium Policy Allows Multiple Payments
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 8:00 AM
Lincoln Quarterly Net Income Jumps 59%
Lincoln National Corp. reported a 59% jump in third-quarter net income late Tuesday as the annuity and life insurance company got a boost from its acquisition of rival Jefferson-Pilot. Operating results exceeded analyst estimates.
Lincoln Quarterly Net Income Jumps 59%
Source: CBS MarketWatch
Lincoln Quarterly Net Income Jumps 59%
Source: CBS MarketWatch
Permalink posted by armandn @ 7:58 AM
Great West Lifeco's U.S. Subsidiary Announces Agreement To Acquire Indiana Hospital And Physician Network
Great-West Lifeco Inc. today announced that its U.S. subsidiary, Great-West Life & Annuity Insurance Company, has reached an agreement with Key Family of Companies in Indiana to acquire all of the outstanding shares of Indiana Health Network, Inc. (IHN), an Indiana-based hospital and physician network.
Great West Lifeco's U.S. Subsidiary Announces Agreement To Acquire Indiana Hospital And Physician Network
Source: CNW Telbec
Great West Lifeco's U.S. Subsidiary Announces Agreement To Acquire Indiana Hospital And Physician Network
Source: CNW Telbec
Permalink posted by armandn @ 7:57 AM
Annuities Gain More Attention From Retirees
If the 1990s were about dotcom stocks, a dawning era of American finance appears likely to focus more on nuts-and-bolts practicality—how to guarantee a steady stream of income that won't run out during one's golden years.
That's what many annuities are designed to do. They are contracts that, in their simplest form, provide a regular check as long as a person lives. One version, growing in popularity, will step up its payments like Social Security does to keep pace with inflation. Another will ratchet up payments if the stock market rises. And some will allow participants to adjust the cash flow based on their expected needs.
Annuities Gain More Attention From Retirees
Source: Wealth News
That's what many annuities are designed to do. They are contracts that, in their simplest form, provide a regular check as long as a person lives. One version, growing in popularity, will step up its payments like Social Security does to keep pace with inflation. Another will ratchet up payments if the stock market rises. And some will allow participants to adjust the cash flow based on their expected needs.
Annuities Gain More Attention From Retirees
Source: Wealth News
Permalink posted by armandn @ 7:56 AM
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