Friday, March 31, 2006
Study Finds Hispanics Need More Information About The Costs, Needs, And Benefits Of Life Insurance
A new study unveils unique insights on the Hispanic community's needs, attitudes and perceptions about financial planning and term life insurance. Genworth Financial, Inc. recently presented the results of the comprehensive "Hispanic Term Life Insurance Market Study," conducted by LIMRA International, at the National Press Club in Washington DC.
Study Finds Hispanics Need More Information About The Costs, Needs, And Benefits Of Life Insurance
Source: PR Newswire
Study Finds Hispanics Need More Information About The Costs, Needs, And Benefits Of Life Insurance
Source: PR Newswire
Permalink posted by armandn @ 11:42 AM 
Bill On 401(k)s Raises Worries
House leaders want to eliminate a longtime safeguard against conflicts of interest in retirement planning, creating a major sticking point in efforts to overhaul the U.S. pension system.
The proposal, championed by House Majority Leader John A. Boehner (R-Ohio), would lift a barrier to firms that run 401(k) retirement plans that keeps them from giving employees investment advice if they stand to benefit financially.
Bill On 401(k)s Raises Worries
Source: L.A. Times (login required - free)
The proposal, championed by House Majority Leader John A. Boehner (R-Ohio), would lift a barrier to firms that run 401(k) retirement plans that keeps them from giving employees investment advice if they stand to benefit financially.
Bill On 401(k)s Raises Worries
Source: L.A. Times (login required - free)
Permalink posted by armandn @ 11:37 AM
The Hartford Continues to Expand Retirement Offering
The Hartford Financial Services Group, Inc. today introduced two important new developments in its focused retirement strategy. First, The Hartford's Retirement Solutions Group is a newly formed team of retirement experts who will provide assistance and coaching on financial planning concepts for the firm's advisor clients. Second, The Hartford Income Security is a new product to help advisors assist clients in meeting the financial challenges posed by increases in longevity. These new developments are part of The Hartford's retirement strategy initiative, a multi-dimensional company effort focusing on three key areas: group retirement plans, innovative income and longevity products and advanced education for clients.
The Hartford Continues to Expand Retirement Offering
Source: Insurance News Net
The Hartford Continues to Expand Retirement Offering
Source: Insurance News Net
Permalink posted by armandn @ 11:35 AM
Thursday, March 30, 2006
Fraud Hearing Witnesses Talk About Annuities
Annuities dominated much of the discussion today at a Senate Committee on Aging hearing on protecting seniors from investment fraud.
The 3 officials who testified at the hearing all spent large portions of their time emphasizing the need to keep seniors from buying unsuitable annuities.
Fraud Hearing Witnesses Talk About Annuities
Source: National Underwriter (subscription required)
The 3 officials who testified at the hearing all spent large portions of their time emphasizing the need to keep seniors from buying unsuitable annuities.
Fraud Hearing Witnesses Talk About Annuities
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 7:43 AM
Principal Financial Group Offers New Product, Employee Benefits Service
With an eye on the worksite and an understanding that one approach doesn't fit all customers, the Principal Financial Group(R) has unveiled a new product, the Employee Financial Resource Program.
According to the Des Moines, Iowa-based company, the program offers three unique and specialized financial analysis packages for financial representatives to use as an added offering when providing employee benefits service. By providing service to individual employees, each addresses different levels and types of financial analysis, and all are available through the financial representative at no cost to the employer or the employee.
Principal Financial Group Offers New Product, Employee Benefits Service
Source: Insurance Journal
According to the Des Moines, Iowa-based company, the program offers three unique and specialized financial analysis packages for financial representatives to use as an added offering when providing employee benefits service. By providing service to individual employees, each addresses different levels and types of financial analysis, and all are available through the financial representative at no cost to the employer or the employee.
Principal Financial Group Offers New Product, Employee Benefits Service
Source: Insurance Journal
Permalink posted by armandn @ 7:41 AM
The Hartford Launches Educational Efforts To Clear Up Consumer Confusion About Disability, Income Protection
The Hartford Financial Services Group, Inc., a leading U.S. provider of group disability and life insurance, has launched several educational initiatives following its Second Annual Disability Literacy Study, which found that most Americans underestimate their chances of becoming disabled and overestimate the cost of protecting themselves from the impact of a disability.
The Hartford Launches Educational Efforts To Clear Up Consumer Confusion About Disability, Income Protection
Source: PR Newswire
The Hartford Launches Educational Efforts To Clear Up Consumer Confusion About Disability, Income Protection
Source: PR Newswire
Permalink posted by armandn @ 7:39 AM
Many Boomers May Have To Rethink Retiring Before Becoming Senior Citizens
Boomers planning to retire before officially becoming senior citizens at age 65 may be rethinking this strategy, according to a new study, that indicates they may have to wait a little longer. Aon Consulting surveyed 1,071 U.S. employers and found that 39 percent believe half or more of their workforce will not have enough savings to retire between the ages of 62 and 65.
Many Boomers May Have To Rethink Retiring Before Becoming Senior Citizens
Source: Senior Journal
Many Boomers May Have To Rethink Retiring Before Becoming Senior Citizens
Source: Senior Journal
Permalink posted by armandn @ 7:38 AM
Wednesday, March 29, 2006
LIMRA Endorses eMoney's 'AdvisorPlatform' As Best Of Breed Wealth Management Tool
LIMRA, a worldwide leader providing research and consulting to more than 800 insurance and financial services companies in 60 countries, has endorsed eMoney Advisor's AdvisorPlatform(tm) as the wealth management solution of choice. This endorsement continues to solidify eMoney's position as the leading wealth management software tool for the financial services industry.
LIMRA Endorses eMoney's 'AdvisorPlatform' As Best Of Breed Wealth Management Tool
Source: eMediaWire
LIMRA Endorses eMoney's 'AdvisorPlatform' As Best Of Breed Wealth Management Tool
Source: eMediaWire
Permalink posted by armandn @ 7:28 AM
Phoenix To Adopt Mutual Funds
The Phoenix Cos. would assume control of the Harris Insight Funds in an alliance announced Tuesday that would add top-performing mutual funds to its own offerings.
Hartford-based Phoenix would become the investment adviser, distributor and administrator of Harris Insight Funds, a family of 19 funds with more than $10.5 billion in assets under management.
Phoenix To Adopt Mutual Funds
Source: Hartford Courant
Hartford-based Phoenix would become the investment adviser, distributor and administrator of Harris Insight Funds, a family of 19 funds with more than $10.5 billion in assets under management.
Phoenix To Adopt Mutual Funds
Source: Hartford Courant
Permalink posted by armandn @ 7:27 AM
Citigroup Launches Internet Banking Site
Citigroup Inc. has begun an Internet bank that offers higher interest rates as part of its plan to attract more online customers and reverse a decline in consumer banking profit.
The company's Citibank unit is offering a 4.5 percent yield on its e-savings account, with no minimum balance required, and in some cases no monthly fees, according to its Web site. Customers, however, must open a linked checking account to get that rate.
Citigroup Launches Internet Banking Site
Source: Reuters
The company's Citibank unit is offering a 4.5 percent yield on its e-savings account, with no minimum balance required, and in some cases no monthly fees, according to its Web site. Customers, however, must open a linked checking account to get that rate.
Citigroup Launches Internet Banking Site
Source: Reuters
Permalink posted by armandn @ 7:26 AM
Lincoln-National and Jefferson-Pilot Announce Preliminary Election Results
Lincoln National Corporation and Jefferson-Pilot Corporation today announced the preliminary results of elections made by Jefferson-Pilot's shareholders, following the expiration of the election period on March 28, 2006, with respect to the form of merger consideration to be received in connection with the merger of Jefferson-Pilot with and into an acquisition subsidiary of Lincoln.
Lincoln-National and Jefferson-Pilot Announce Preliminary Election Results
Source: PR Newswire
Lincoln-National and Jefferson-Pilot Announce Preliminary Election Results
Source: PR Newswire
Permalink posted by armandn @ 7:24 AM
Tuesday, March 28, 2006
Insurer Responds To Prostate Cancer Gains
Hartford Financial Services Group Inc. says prostate cancer survivorship has improved so much it is offering life insurance at standard rates to many men who have had the disease.
Insurer Responds To Prostate Cancer Gains
Source: National Underwriter (subscription required)
Insurer Responds To Prostate Cancer Gains
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 12:28 PM
Cash Squeeze Means Pension Freeze
A new study says finance chiefs will freeze retirement benefits if they cut into buybacks, capital spending, or other priorities.
Most companies would probably freeze their defined-benefit pension plans if the costs start eating large chunks out of corporate cash flow, a new survey of 109 senior finance executives finds.
Cash Squeeze Means Pension Freeze
Source: Insurance News Net
Most companies would probably freeze their defined-benefit pension plans if the costs start eating large chunks out of corporate cash flow, a new survey of 109 senior finance executives finds.
Cash Squeeze Means Pension Freeze
Source: Insurance News Net
Permalink posted by armandn @ 12:27 PM
ING Offers Roth 401(k) and 403(b)
ING, a global financial services leader, today announced it is now offering the Roth 401(k) and Roth 403(b) to its clients. ING has also created two "education kits" for employers and employees to help explain the Roth option.
ING Offers Roth 401(k) and 403(b)
Source: PR Newswire
ING Offers Roth 401(k) and 403(b)
Source: PR Newswire
Permalink posted by armandn @ 12:26 PM
NAIC Launches Insure U
The National Association of Insurance Commissioners (NAIC) today launched a comprehensive public education program
to assist consumers with information about insurance issues. Under the banner of Insure U, the campaign has two objectives: to help consumers get smart about insurance as their needs change at different life stages, and to educate them about how to avoid being scammed by fake insurance companies. The program includes an online education site and public service announcements in English and Spanish.
NAIC Launches Insure U
Source: PR Newswire
to assist consumers with information about insurance issues. Under the banner of Insure U, the campaign has two objectives: to help consumers get smart about insurance as their needs change at different life stages, and to educate them about how to avoid being scammed by fake insurance companies. The program includes an online education site and public service announcements in English and Spanish.
NAIC Launches Insure U
Source: PR Newswire
Permalink posted by armandn @ 12:24 PM
Monday, March 27, 2006
Manulife Sells Independent Investment Unit
City National Corp., a provider of private banking and related financial services, has acquired investment manager Independence Investment LLC from Canada's Manulife Financial Corp.
The deal's financial details were not disclosed. Independence, which manages more than $7.5 billion in assets on behalf of institutional clients like companies, foundations and endowments, will remain headquartered in Boston.
Manulife Sells Independent Investment Unit
Source: Yahoo! Finance
The deal's financial details were not disclosed. Independence, which manages more than $7.5 billion in assets on behalf of institutional clients like companies, foundations and endowments, will remain headquartered in Boston.
Manulife Sells Independent Investment Unit
Source: Yahoo! Finance
Permalink posted by armandn @ 12:23 PM
Bird-Flu Pandemic Likely To Hit Life Insurers/Reinsurers Hardest
Fitch Ratings says life insurers and their reinsurers would be most likely to be the hardest hit by a bird flu pandemic, although the agency does not envision a threat of widespread downgrades to either the life, non-life or reinsurance sectors.
In a special report issued today, Fitch says life insurers, non-life insurers and reinsurers would all be affected by any falls in the investment market that could accompany a flu outbreak. Although this could be significant, if the outbreak is relatively short-lived, the overall impact is likely to be temporary. Consequently, Fitch does not envision a significant threat of widespread ratings downgrades to either the life or non-life sector at present.
Bird-Flu Pandemic Likely To Hit Life Insurers/Reinsurers Hardest
Source: Insurance News Net
In a special report issued today, Fitch says life insurers, non-life insurers and reinsurers would all be affected by any falls in the investment market that could accompany a flu outbreak. Although this could be significant, if the outbreak is relatively short-lived, the overall impact is likely to be temporary. Consequently, Fitch does not envision a significant threat of widespread ratings downgrades to either the life or non-life sector at present.
Bird-Flu Pandemic Likely To Hit Life Insurers/Reinsurers Hardest
Source: Insurance News Net
Permalink posted by armandn @ 12:22 PM
Lincoln Financial Group Clears Last Major Regulatory Hurdle for Jefferson-Pilot Merger
Lincoln National Corporation, the parent company of the Lincoln Financial Group of companies, today announced that, having received approval from the North Carolina Department of Insurance, the company has cleared the last major regulatory hurdle for its merger with Jefferson-Pilot Corporation.
Lincoln Financial Group Clears Last Major Regulatory Hurdle for Jefferson-Pilot Merger
Source: PR Newswire
Lincoln Financial Group Clears Last Major Regulatory Hurdle for Jefferson-Pilot Merger
Source: PR Newswire
Permalink posted by armandn @ 12:20 PM
Life insurance offered to cancer survivors
The Hartford Financial Services Group Inc. will make life insurance coverage more accessible to men with prostate cancer, recognizing rising survival rates with early detection.
The Hartford plans to announce Monday that it will offer insurance at standard rates to men 60 and older who have been surgically treated for moderate levels of prostate cancer. In the past, men had to wait up to three years following treatment to qualify for life insurance coverage and would have paid significantly more over five years.
Life insurance offered to cancer survivors
Source: FortWayne.com
The Hartford plans to announce Monday that it will offer insurance at standard rates to men 60 and older who have been surgically treated for moderate levels of prostate cancer. In the past, men had to wait up to three years following treatment to qualify for life insurance coverage and would have paid significantly more over five years.
Life insurance offered to cancer survivors
Source: FortWayne.com
Permalink posted by armandn @ 12:18 PM
Friday, March 24, 2006
Indexed UL Policy Returns Premiums
Allianz Life Insurance Company of North America has started selling a universal life insurance policy aimed at customers who want a vehicle for sharing in growth in stock prices.
Indexed UL Policy Returns Premiums
Source: National Underwriter (subscription required)
Indexed UL Policy Returns Premiums
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 9:32 AM
Baby Boomers Appear Clueless About Retirement Needs
Social Security needs fixing now, and Baby Boomers appear to be in denial about their pending retirements that start in 2008.
Those were two of the messages delivered Wednesday to about 20 Billings area lawyers and accountants taking a continuing education class offered by RBC Dain Rauscher.
Baby Boomers Appear Clueless About Retirement Needs
Source: BillingsGazette.com
Those were two of the messages delivered Wednesday to about 20 Billings area lawyers and accountants taking a continuing education class offered by RBC Dain Rauscher.
Baby Boomers Appear Clueless About Retirement Needs
Source: BillingsGazette.com
Permalink posted by armandn @ 9:31 AM
Insurance Protection On Retirement Accounts Gets A Rare Increase
Money you've socked away in certain retirement accounts soon will have more federal insurance protection at your bank and savings institution beginning April 1. Credit union depositors also will see an increase in the insurance limit for their retirement accounts.
Both the Federal Deposit Insurance Corp. (FDIC) and the National Credit Union Administration (NCUA) recently approved final rules to implement a raise in the amount of deposit insurance coverage to $250,000 from $100,000 on self-directed retirement accounts -- primarily traditional and Roth IRAs (individual retirement accounts).
Insurance Protection On Retirement Accounts Gets A Rare Increase
Source: The Olympian
Both the Federal Deposit Insurance Corp. (FDIC) and the National Credit Union Administration (NCUA) recently approved final rules to implement a raise in the amount of deposit insurance coverage to $250,000 from $100,000 on self-directed retirement accounts -- primarily traditional and Roth IRAs (individual retirement accounts).
Insurance Protection On Retirement Accounts Gets A Rare Increase
Source: The Olympian
Permalink posted by armandn @ 9:30 AM
Aviva Withdraws Offer For Prudential
Aviva PLC withdrew its 17 billion pound (US$30 billion, euro25 billion) takeover offer for Prudential PLC Friday, effectively ending its bid to create a British-based insurance giant just days after it announced the approach.
Aviva Withdraws Offer For Prudential
Source: Yahoo! Finance
Aviva Withdraws Offer For Prudential
Source: Yahoo! Finance
Permalink posted by armandn @ 9:29 AM
Financial Planners List Tips For Future Retirees' Survival
Many people dream of living out their golden years in their own home, a cute condominium or a retirement community with plenty of activities.
But those decades ahead might come with unexpected turns and costs that turn into nightmares.
Several local financial planners say that although individual circumstances and health conditions affect what kinds of housing people might need in the future -- and thus the costs -- they offered suggestions on crafting a plan.
Financial Planners List Tips For Future Retirees' Survival
Source: OregonLive.com
But those decades ahead might come with unexpected turns and costs that turn into nightmares.
Several local financial planners say that although individual circumstances and health conditions affect what kinds of housing people might need in the future -- and thus the costs -- they offered suggestions on crafting a plan.
Financial Planners List Tips For Future Retirees' Survival
Source: OregonLive.com
Permalink posted by armandn @ 9:27 AM
Thursday, March 23, 2006
Columbia Management Launches Retirement Learning Center to Help Advisors With Clients' Retirement Issues
Columbia Management, the primary investment management arm of Bank of America, in partnership with the Retirement Learning Center, LLC, today announced the launch of the Columbia Management Retirement Learning Center -- a comprehensive support program for financial advisors and other investment professionals who want to provide their clients with effective retirement and rollover strategies.
Columbia Management Launches Retirement Learning Center to Help Advisors With Clients' Retirement Issues
Source: PR Newswire
Columbia Management Launches Retirement Learning Center to Help Advisors With Clients' Retirement Issues
Source: PR Newswire
Permalink posted by armandn @ 11:37 AM
Baby Boomers Need Safer Bets For The Golden Years
Grant Murphy, 42, has three retirement goals: to live in Paris, soak in ample theater on Broadway, and skim a few hundred thousand dollars a year from the fixed-income investments in his portfolio.
The security software executive calculates that if he can sock away enough money over the next 13 years, all of his dreams should come true.
Baby Boomers Need Safer Bets For The Golden Years
Source: Insurance News Net
The security software executive calculates that if he can sock away enough money over the next 13 years, all of his dreams should come true.
Baby Boomers Need Safer Bets For The Golden Years
Source: Insurance News Net
Permalink posted by armandn @ 11:35 AM
NASD Chairman Eyes Secondary Life Market
The National Association of Securities Dealers is preparing a notice for members on participation in life settlement transactions.
NASD Chairman Mary Schapiro talked about life settlements, equity indexed annuities and retirement plan rollovers in Hollywood, Fla., at a conference organized by the compliance and legal division of the Securities Industry Association, Washington.
NASD Chairman Eyes Secondary Life Market
Source: National Underwriter (subscription required)
NASD Chairman Mary Schapiro talked about life settlements, equity indexed annuities and retirement plan rollovers in Hollywood, Fla., at a conference organized by the compliance and legal division of the Securities Industry Association, Washington.
NASD Chairman Eyes Secondary Life Market
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 11:33 AM
NASD, Minn. Department Of Commerce To Host Annuity Roundtable, May 5
NASD and the Minnesota Department of Commerce will co-host an Annuity Roundtable in Washington D.C. on Friday, May 5.
Participants will include a cross section of federal and state regulators, securities firm and insurance company executives, and consumer groups.
The Annuity Roundtable, will consist of two panels. The first will explore the complexity of annuity products, trends in the development and marketing of those products and disclosure, suitability and marketing issues.
NASD, Minn. Department Of Commerce To Host Annuity Roundtable, May 5
Source: Insurance Journal
Participants will include a cross section of federal and state regulators, securities firm and insurance company executives, and consumer groups.
The Annuity Roundtable, will consist of two panels. The first will explore the complexity of annuity products, trends in the development and marketing of those products and disclosure, suitability and marketing issues.
NASD, Minn. Department Of Commerce To Host Annuity Roundtable, May 5
Source: Insurance Journal
Permalink posted by armandn @ 11:32 AM
Is Pension Bill On Home Stretch and Are Investors on Board?
Congress is moving forward on adding an amendment to the three-decade-old Employee Retirement Income Security Act (ERISA) that could have a significant impact on the way registered representatives do business.
The main issue for brokers is who can give investment advice and what they can say. A House and Senate conference is considering two bills. Both groups have something to say on the subject, which has been bandied about for years, but this time a compromise is seen as getting somewhere?reaching President Bush's desk for his signature next month.
Is Pension Bill On Home Stretch and Are Investors on Board?
Source: Insurance News Net
The main issue for brokers is who can give investment advice and what they can say. A House and Senate conference is considering two bills. Both groups have something to say on the subject, which has been bandied about for years, but this time a compromise is seen as getting somewhere?reaching President Bush's desk for his signature next month.
Is Pension Bill On Home Stretch and Are Investors on Board?
Source: Insurance News Net
Permalink posted by armandn @ 11:29 AM
Wednesday, March 22, 2006
Thrivent Financial Reports Strong 2005 Results
Thrivent Financial for Lutherans today reported strong financial results for 2005, as the organization added to its overall financial strength and experienced significant gains in key financial metrics.
"2005 was a good year for us as our surplus grew, and we experienced solid results in investment performance, operational gains and expense management," said Bruce Nicholson, Thrivent Financial's chairman, president and chief executive officer. "Our surplus position has never been stronger, and with our operations becoming increasingly efficient, our members can count on Thrivent Financial for the long term."
Thrivent Financial Reports Strong 2005 Results
Source: Thrivent Press Release
"2005 was a good year for us as our surplus grew, and we experienced solid results in investment performance, operational gains and expense management," said Bruce Nicholson, Thrivent Financial's chairman, president and chief executive officer. "Our surplus position has never been stronger, and with our operations becoming increasingly efficient, our members can count on Thrivent Financial for the long term."
Thrivent Financial Reports Strong 2005 Results
Source: Thrivent Press Release
Permalink posted by armandn @ 11:14 AM
Advisers Think It's Tougher To Counsel Clients
The modern age of regulation has advisers harkening back to simpler times, according to a recently released survey.
About 30% of the 300 ING advisers surveyed by telephone in August by ING US Financial Services LLC of Atlanta said that it was harder to counsel clients compared with five years ago.
Advisers Think It's Tougher To Counsel Clients
Source: Investment News (subscription required)
About 30% of the 300 ING advisers surveyed by telephone in August by ING US Financial Services LLC of Atlanta said that it was harder to counsel clients compared with five years ago.
Advisers Think It's Tougher To Counsel Clients
Source: Investment News (subscription required)
Permalink posted by armandn @ 11:11 AM
Could British Pru Find Another Suitor?
Executives at Prudential P.L.C. are rejecting a $30 billion bid from a larger rival, Aviva P.L.C., saying the offer is too low.
Some analysts are asking whether the British Prudential, which has no connection with Prudential Financial Inc., Newark, N.J., could end up luring a bidder who will beat Aviva's price.
Could British Pru Find Another Suitor?
Source: National Underwriter (subscription required)
Some analysts are asking whether the British Prudential, which has no connection with Prudential Financial Inc., Newark, N.J., could end up luring a bidder who will beat Aviva's price.
Could British Pru Find Another Suitor?
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 11:10 AM
The Midland Company's American Modern Insurance Group Receives Another 'Best in Class' Technology Award
The Midland Company a highly focused provider of specialty insurance products and services, today announced its wholly-owned subsidiary, American Modern Insurance Group, has received the Best in Class Award from Computerworld Magazine for its web-based modernLINK(R) information technology system.
American Modern's modernLINK(R) system is a suite of applications designed to allow agents to perform a host of services, including policy quoting, issuance, inquiry and payment application. The award was announced recently at the Computerworld IT Leaders' Conference, which recognizes great ideas, strategic use of best practices and real-world leadership from the information technology and business executives who are advancing their organizations through technology.
The Midland Company's American Modern Insurance Group Receives Another 'Best in Class' Technology Award
Source: PR Newswire
American Modern's modernLINK(R) system is a suite of applications designed to allow agents to perform a host of services, including policy quoting, issuance, inquiry and payment application. The award was announced recently at the Computerworld IT Leaders' Conference, which recognizes great ideas, strategic use of best practices and real-world leadership from the information technology and business executives who are advancing their organizations through technology.
The Midland Company's American Modern Insurance Group Receives Another 'Best in Class' Technology Award
Source: PR Newswire
Permalink posted by armandn @ 11:08 AM
Tuesday, March 21, 2006
Google introduces Finance site
Google has introduced its new finance site: finance.google.com.
Permalink posted by markw @ 10:00 PM
John Hancock Launches New Sales Tool Kit on Executive Bonus Plans, Restricted Endorsement Bonus Arrangements
John Hancock's Advanced Markets group has launched a new virtual sales tool kit on Executive Bonus Plans and Restricted Bonus Arrangements (REBAs) to help financial advisors and their clients understand the benefits of these plans and how they work. The kit, available on CD-Rom, includes new educational, marketing and sales materials on these business planning techniques, which can provide a simple, cost- effective way to retain and reward key employees. REBAs and Executive Bonus Plans have become an increasingly popular way to provide valued employees with a portable life insurance benefit in their pre-retirement years.
John Hancock Launches New Sales Tool Kit on Executive Bonus Plans, Restricted Endorsement Bonus Arrangements
Source: Yahoo! Finance
John Hancock Launches New Sales Tool Kit on Executive Bonus Plans, Restricted Endorsement Bonus Arrangements
Source: Yahoo! Finance
Permalink posted by armandn @ 11:58 AM
Industry Eyes Hearing In Key Index Annuity Case
A closely watched case involving the sale of equity index annuities by a brokerage firm is set to begin today with an administrative hearing in Boston.
Charges filed against Investors Capital Corp. by Massachusetts securities regulators allege that the Lynnfield, Mass., independent-contractor firm should have supervised sales of equity index annuities made by its representatives since 2001.
Industry Eyes Hearing In Key Index Annuity Case
Source: Investment News (subscription required)
Charges filed against Investors Capital Corp. by Massachusetts securities regulators allege that the Lynnfield, Mass., independent-contractor firm should have supervised sales of equity index annuities made by its representatives since 2001.
Industry Eyes Hearing In Key Index Annuity Case
Source: Investment News (subscription required)
Permalink posted by armandn @ 11:57 AM
Lincoln National Corporation Shareholders Approve Stock Issuance
Lincoln National Corporation, the parent company of the Lincoln Financial Group of companies, announced that its shareholders today voted in favor of issuing shares of Lincoln National Corporation common stock pursuant to the Agreement and Plan of Merger with Jefferson-Pilot Corporation. The issuance of shares was approved by approximately 98% of the shares voting on the matter in a special meeting and demonstrates strong support of the merger with Jefferson-Pilot. The merger is projected to close in early April 2006.
Lincoln National Corporation Shareholders Approve Stock Issuance
Source: PR Newswire
Lincoln National Corporation Shareholders Approve Stock Issuance
Source: PR Newswire
Permalink posted by armandn @ 11:55 AM
Prudential Financial And LifeMark Partner To Embrace A Real Insurance Opportunity 'Hidden In Plain Sight'
Prudential Financial, Inc. announced today that it has joined forces with LifeMark Partners, Inc. to tackle an untraditional approach in brokerage distribution - marketing to women. "Brokerage distribution of insurance products has been dominated not only by male professionals, but also by male clients", said Becky Wingate, CEO of LifeMark Partners, Inc. "If we want to continue growth in a relatively flat market, we must go where there is an untapped need and opportunity." Almost half of all new insurance buyers are women, according to LIMRA's 2005 Report "Finding New Customers: Who is Buying Individual Life and Why?"
Prudential Financial And LifeMark Partner To Embrace A Real Insurance Opportunity 'Hidden In Plain Sight'
Source: Insurance News Net
Prudential Financial And LifeMark Partner To Embrace A Real Insurance Opportunity 'Hidden In Plain Sight'
Source: Insurance News Net
Permalink posted by armandn @ 11:53 AM
Prudential Annuities Introduces Variable Annuity Optional Living Benefit For Spouses
Prudential Annuities, the domestic annuity business for Prudential Financial, Inc., announced today that it has launched Spousal Lifetime Five, a variable annuity optional living benefit that offers spousal coverage with no reduction in lifetime income at the death of the first spouse. The new living benefit is an enhancement to Prudential's Lifetime Five option introduced last year as the industry's groundbreaking guaranteed-withdrawals-for-life living benefit.
Prudential Annuities Introduces Variable Annuity Optional Living Benefit For Spouses
Source: Yahoo! Finance
Prudential Annuities Introduces Variable Annuity Optional Living Benefit For Spouses
Source: Yahoo! Finance
Permalink posted by armandn @ 11:51 AM
Monday, March 20, 2006
Retirees expecting to spend nest eggs
Although it's true that you can't take it with you, many believe there will be nothing left when the time comes, a recently released study indicates.
About 64% of American workers surveyed as part of the AXA Equitable Retirement Scope said they thought that they would spend all their savings during their retirement years.
Read full story: Retirees expecting to spend nest eggs
Source: Investment News (subscription required)
About 64% of American workers surveyed as part of the AXA Equitable Retirement Scope said they thought that they would spend all their savings during their retirement years.
Read full story: Retirees expecting to spend nest eggs
Source: Investment News (subscription required)
Permalink posted by armandn @ 6:27 AM
Why Retire Rich?
You've got to be careful about labels like "affluent," "middle class" and "upper middle class" to describe someone's finances or lifestyle. After all, I know people who live in homes worth close to a million bucks, own a big SUV or two, take several vacations a year, but they'd recoil in horror if you suggested that they were "affluent" or "rich." They consider themselves upper-middle-class at most.
So when you want to do some serious planning about your retirement, you're much better off avoiding imprecise concepts and focusing instead on some hard numbers.
Read full story: Why Retire Rich?
Source: CNN/Money
So when you want to do some serious planning about your retirement, you're much better off avoiding imprecise concepts and focusing instead on some hard numbers.
Read full story: Why Retire Rich?
Source: CNN/Money
Permalink posted by armandn @ 6:07 AM
Conseco Joins With Legacy Marketing To Develop, Distribute Fixed Annuities
Washington National Insurance Co., a unit of Conseco Inc., and Legacy Marketing Group have agreed to jointly develop fixed annuities and sell them through the independent distribution channel.
Under the agreement, Legacy's independent wholesaler team is the sole distributor of Washington National's fixed annuities for the individual market, Conseco said. Legacy, based in northern California, has more than $13 billion in fixed annuity premiums.
Read full story: Conseco Joins With Legacy Marketing To Develop, Distribute Fixed Annuities
Source: A.M. Best (subscription required)
Under the agreement, Legacy's independent wholesaler team is the sole distributor of Washington National's fixed annuities for the individual market, Conseco said. Legacy, based in northern California, has more than $13 billion in fixed annuity premiums.
Read full story: Conseco Joins With Legacy Marketing To Develop, Distribute Fixed Annuities
Source: A.M. Best (subscription required)
Permalink posted by armandn @ 6:04 AM
St. Paul Travelers Denies Merger Discussions with Zurich
Saint Paul, Minn.-based The St. Paul Travelers Companies Inc. announced on Sunday that recent media reports, including a Wall Street Journal article that claimed the company was in discussions with Zurich Financial Services Group regarding the possibility of a merger with Zurich, are not true.
St. Paul Travelers Denies Merger Discussions with Zurich
Source: Insurance Journal
St. Paul Travelers Denies Merger Discussions with Zurich
Source: Insurance Journal
Permalink posted by armandn @ 5:55 AM
Friday, March 17, 2006
How To Avoid Ruining Retirement
We all make mistakes. That velvet painting? A lapse. The electric aquarium cleaner? Who knew? The spumoni incident? Let it go.
But when it comes to retirement, some errors don't just fade into memory. You're forced to live with them -- which means it's best not to make retirement mistakes in the first place. What are the worst mistakes? Glad you asked. We talked to retirement experts to find the biggest mistakes people make when entering retirement. The worst of the worst:
Read full story: How To Avoid Ruining Retirement
Source: Insurance News Net
But when it comes to retirement, some errors don't just fade into memory. You're forced to live with them -- which means it's best not to make retirement mistakes in the first place. What are the worst mistakes? Glad you asked. We talked to retirement experts to find the biggest mistakes people make when entering retirement. The worst of the worst:
Read full story: How To Avoid Ruining Retirement
Source: Insurance News Net
Permalink posted by armandn @ 5:52 AM
Aviva in £17bn offer for Prudential
Aviva, the UK's largest life assurer, has made a takeover approach to Prudential that could value its smaller rival at £17bn.
Read full story: Aviva in £17bn offer for Prudential
Source: Financial Times
Read full story: Aviva in £17bn offer for Prudential
Source: Financial Times
Permalink posted by armandn @ 5:49 AM
North American Life Insurance Activity Up Slightly in February
North American application activity for individually underwritten life insurance was up slightly in February, +0.5% year-over-year, marking the second consecutive month of positive 2006 results according to the MIB Life Index(SM). This is the first time back-to-back increases have been seen in the Index in over three years. Year-to-date (YTD) North American applications are up +1.2%.
Read full story: North American Life Insurance Activity Up Slightly in February
Source: PR Newswire
Read full story: North American Life Insurance Activity Up Slightly in February
Source: PR Newswire
Permalink posted by armandn @ 5:42 AM
A Crisis in the Making - A Survey by the Federal Reserve Shows that Americans are not Saving Enough for a Comfortable Retirement
When the Federal Reserve recently released its consumer finance survey, it showed some interesting trends in why Americans save - and how.
Take, for example, the statistics regarding direct ownership of individual equities. Between 2001, when the last survey was taken, and 2004, direct ownership of equities has increased among households headed by members of the baby boom generation, defined as those born between 1946 and 1964.
Meanwhile, ownership of "pooled investment funds," a category in which the Fed includes mutual funds, hedge funds, and real estate investment trusts, is lower than direct stock ownership for all age categories. Ownership of both stocks and funds dwarfs bond ownership.
Read full story: A Crisis in the Making - A Survey by the Federal Reserve Shows that Americans are not Saving Enough for a Comfortable Retirement
Source: BusinessWeek
Take, for example, the statistics regarding direct ownership of individual equities. Between 2001, when the last survey was taken, and 2004, direct ownership of equities has increased among households headed by members of the baby boom generation, defined as those born between 1946 and 1964.
Meanwhile, ownership of "pooled investment funds," a category in which the Fed includes mutual funds, hedge funds, and real estate investment trusts, is lower than direct stock ownership for all age categories. Ownership of both stocks and funds dwarfs bond ownership.
Read full story: A Crisis in the Making - A Survey by the Federal Reserve Shows that Americans are not Saving Enough for a Comfortable Retirement
Source: BusinessWeek
Permalink posted by armandn @ 5:22 AM
Thursday, March 16, 2006
Jackson National Life(R) Delivers Strong 2005 Performance, Generating GAAP Net Income of $594 Million
Jackson National Life, an indirect wholly owned subsidiary of theUnited Kingdom's Prudential plc, increased revenues by 7percent over 2004, primarily from higher net investment income andvariable annuity fee income. GAAP pretax income from continuingoperations rose 5 percent over 2004 to more than $909 million, andGAAP net income declined 6 percent from the prior year. In 2004, JNL'sGAAP net income benefited from a change in accounting principle andthe proceeds from the sale of Jackson Federal Bank, as well as aone-time legal settlement.
Read full article: Jackson National Life Delivers Strong 2005 Performance, Generating GAAP Net Income of $594 Million
Source: Finanzen.net
Read full article: Jackson National Life Delivers Strong 2005 Performance, Generating GAAP Net Income of $594 Million
Source: Finanzen.net
Permalink posted by armandn @ 7:57 AM
Insurance Sector Offers Financial Institutions Roadmap For Developing Innovative Investment Products For Retirees
The challenge of funding retirement programs for the aging "baby boomer" population is not limited to the United States. Within a century, the number of people over age 65 will outnumber all other age groups in developed countries, including Australia and countries in Western Europe. As this "baby boomer" generation begins to retire, the public and private retirement and healthcare systems currently in place will become less viable. According to TowerGroup, without a concerted effort from both the public and private sector, many countries will inherit substantial financial burdens from their aging population with long-term negative consequences.
Read full story: Insurance Sector Offers Financial Institutions Roadmap For Developing Innovative Investment Products For Retirees
Source: PR Newswire
Read full story: Insurance Sector Offers Financial Institutions Roadmap For Developing Innovative Investment Products For Retirees
Source: PR Newswire
Permalink posted by armandn @ 7:56 AM
Insurer's Ad Debuts Today
Some well-known movie talent worked on The Hartford's new TV commercial, which starts today on CBS during the men's NCAA basketball tournament and highlights the need for retirement planning.
The TV and print "Prepare To Live" ad campaign is part of a baby boomer-focused initiative of The Hartford Financial Services Group, which sells mutual funds and variable annuities.
Read full article: Insurer's Ad Debuts Today
Source: Hartford Courant
The TV and print "Prepare To Live" ad campaign is part of a baby boomer-focused initiative of The Hartford Financial Services Group, which sells mutual funds and variable annuities.
Read full article: Insurer's Ad Debuts Today
Source: Hartford Courant
Permalink posted by armandn @ 7:55 AM
MetLife Launches Online Life Insurance Calculator
To help boost life insurance sales, New York-based MetLife (total assets of $481.2 billion) has developed the online Guaranteed Survivor Income Benefit (GSIB) calculator along with a life insurance rider for its individual universal life product.
The Web-based calculator breaks down the amount of life insurance an individual will need to provide for his or her family on a monthly basis—calculating life insurance out like a monthly paycheck—instead of basing the lump sum on uncertainties such as interest rates, the way it has been traditionally calculated. The calculator reinforces the universal life product's GSIB rider, a provision in the contract that ensures the life insurance will be distributed monthly to the survivor instead of the traditional way of receiving the benefit all at once.
Read full story: MetLife Launches Online Life Insurance Calculator
Source: FinanceTech
The Web-based calculator breaks down the amount of life insurance an individual will need to provide for his or her family on a monthly basis—calculating life insurance out like a monthly paycheck—instead of basing the lump sum on uncertainties such as interest rates, the way it has been traditionally calculated. The calculator reinforces the universal life product's GSIB rider, a provision in the contract that ensures the life insurance will be distributed monthly to the survivor instead of the traditional way of receiving the benefit all at once.
Read full story: MetLife Launches Online Life Insurance Calculator
Source: FinanceTech
Permalink posted by armandn @ 7:53 AM
ING Enhances Variable Accumulation Design, Variable Universal Life Product Product
ING has announced that it has revamped its Variable Accumulation Design (VAD) survivorship variable universal life (SVUL) insurance offered through its subsidiary, ReliaStar Life Insurance Company. The product is designed for individuals who need life insurance protection, as well as cash accumulation features that can be used in split-dollar, estate planning or supplemental retirement income situations.
"Variable Universal Life remains an important product for those who want
cash value life insurance with growth potential," said Jim Gelder, president
of ING Life Distribution. "The continued improvement of SVUL products through more features and lower expenses, makes it easier for producers to help meet clients' needs," Gelder added.
Read full story: ING Enhances Variable Accumulation Design, Variable Universal Life Product Product
Source: PR Newswire
"Variable Universal Life remains an important product for those who want
cash value life insurance with growth potential," said Jim Gelder, president
of ING Life Distribution. "The continued improvement of SVUL products through more features and lower expenses, makes it easier for producers to help meet clients' needs," Gelder added.
Read full story: ING Enhances Variable Accumulation Design, Variable Universal Life Product Product
Source: PR Newswire
Permalink posted by armandn @ 7:51 AM
Wednesday, March 15, 2006
Experts Warn Senate Panel Baby Boomers Aren't Ready For Long-Term Care Costs
Members of the Baby Boom generation are unprepared for the cost of long-term care, and only 10% carry LTC insurance, witnesses told a U.S. Senate panel examining the growing of such care.
Read full story:
Experts Warn Senate Panel Baby Boomers Aren't Ready For Long-Term Care Costs
Source: A.M. Best (subscription required)
Read full story:
Experts Warn Senate Panel Baby Boomers Aren't Ready For Long-Term Care Costs
Source: A.M. Best (subscription required)
Permalink posted by armandn @ 7:49 AM
NAVA Study Underscores The Value Annuities Offer Baby Boomers Faced With The Challenge Of Determining How to Best Allocate Retirement Savings
As baby boomers approach retirement and begin tapping into their 401(k)s and other qualified plans, many will face the dilemma of how to best utilize and manage these assets. A study(1) released today by the National Association for Variable Annuities (NAVA), provides a new perspective on this challenge by assessing the value annuities provide when held in qualified plans (i.e., 401(k), 403(b), Keogh) or IRAs, or when used to re-invest assets rolled-over from 401(k) plans.
According to the NAVA study, financial advisors feel it is the unique combination of income guarantees and insurance benefits that annuities provide that are driving their clients to include annuities in qualified plans or IRAs.
Read full story:
NAVA Study Underscores The Value Annuities Offer Baby Boomers Faced With The Challenge Of Determining How to Best Allocate Retirement Savings
Source: Insurance News Net
According to the NAVA study, financial advisors feel it is the unique combination of income guarantees and insurance benefits that annuities provide that are driving their clients to include annuities in qualified plans or IRAs.
Read full story:
NAVA Study Underscores The Value Annuities Offer Baby Boomers Faced With The Challenge Of Determining How to Best Allocate Retirement Savings
Source: Insurance News Net
Permalink posted by armandn @ 7:47 AM
Long-Term Care Insurance Beats A Short-Sighted Solution
Have you ever felt like you were running on empty?
When that happens to me, there's not much left to give to others, let alone properly take care of myself. That's also the feeling people get when they must care for seriously ill or injured partners. That's why it is important to have a plan in place that will take care of the caretaker.
We know statistically that women outlive men by seven years. Add the fact that 80 percent of men die married, and 80 percent of women die single.
That tells me women need to take responsibility and develop plans for their legal, financial and physical well-being. In this busy world we're usually pulled in many directions. Don't make the mistake of overlooking your own needs.
Read full story:
Long-Term Care Insurance Beats A Short-Sighted Solution
Source: Naples News
When that happens to me, there's not much left to give to others, let alone properly take care of myself. That's also the feeling people get when they must care for seriously ill or injured partners. That's why it is important to have a plan in place that will take care of the caretaker.
We know statistically that women outlive men by seven years. Add the fact that 80 percent of men die married, and 80 percent of women die single.
That tells me women need to take responsibility and develop plans for their legal, financial and physical well-being. In this busy world we're usually pulled in many directions. Don't make the mistake of overlooking your own needs.
Read full story:
Long-Term Care Insurance Beats A Short-Sighted Solution
Source: Naples News
Permalink posted by armandn @ 7:46 AM
Life Insurance: Like 'Deal or No Deal' Without the Drama
What does the NBC-TV hit game show "Deal or No Deal" have in common with life insurance? They both bring out the same - sometimes irrational - behavior in people who face a hard choice involving a lot of money.
"We see the contestants sweating out their decision, wishing they had more time to choose, torn about the risk of losing what they've gained, yet excited that they could win more," said Bob Kerzner, president and CEO of LIMRA International, a financial services organization that studies consumer behavior.
Full story:
Life Insurance: Like 'Deal or No Deal' Without the Drama
Source: LIMRA
"We see the contestants sweating out their decision, wishing they had more time to choose, torn about the risk of losing what they've gained, yet excited that they could win more," said Bob Kerzner, president and CEO of LIMRA International, a financial services organization that studies consumer behavior.
Full story:
Life Insurance: Like 'Deal or No Deal' Without the Drama
Source: LIMRA
Permalink posted by armandn @ 7:43 AM
Tuesday, March 14, 2006
VA Insurer Adds Hedge Fund Options
A life insurance unit of Inviva Inc. is adding 2 variable annuity investment options aimed at customers who want to play with the big boys.
Inviva, Louisville, Ky., is including Rydex Variable Trust Absolute Return Strategies Fund option and a Rydex Variable Trust Hedged Equity Fund option in the Monument Advisor contract issued by its Jefferson National Life Insurance Company unit.
Read Full Story: VA Insurer Adds Hedge Fund Options
Source: National Underwriter (subscription required)
Inviva, Louisville, Ky., is including Rydex Variable Trust Absolute Return Strategies Fund option and a Rydex Variable Trust Hedged Equity Fund option in the Monument Advisor contract issued by its Jefferson National Life Insurance Company unit.
Read Full Story: VA Insurer Adds Hedge Fund Options
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 7:19 AM
Retirement Planning: Baby Boomers Aren't Catching Up
If you're age 50 or older, you could boost your retirement savings by contributing more than the standard limit to plans such as 401(k)s and IRAs, but you're probably not. These so-called catch-up contributions can help those nearing retirement to supersize their nest eggs -- morphing them from chicken eggs to ostrich eggs.
For example, the 401(k) contribution limit in 2006, for participants younger than age 50, is $15,000. Participants age 50 or older may contribute an additional $5,000 for a total of $20,000 in 2006.
Read Full Article: Retirement Planning: Baby Boomers Aren't Catching Up
Source: Bankrate.com
For example, the 401(k) contribution limit in 2006, for participants younger than age 50, is $15,000. Participants age 50 or older may contribute an additional $5,000 for a total of $20,000 in 2006.
Read Full Article: Retirement Planning: Baby Boomers Aren't Catching Up
Source: Bankrate.com
Permalink posted by armandn @ 7:02 AM
U.S. Raising Insurance Limit For Retirement Accounts
The federal insurance limit for retirement accounts at banks will more than double to $250,000 this year - just in time for retiring baby boomers.
The increased coverage will apply to accounts such as Keoghs, individual retirement accounts and individual 401(k)s. The new limit could kick in as early as next month, although it will be in place in November at the latest.
Read full story: U.S. Raising Insurance Limit For Retirement Accounts
Source: Insurance News Net
The increased coverage will apply to accounts such as Keoghs, individual retirement accounts and individual 401(k)s. The new limit could kick in as early as next month, although it will be in place in November at the latest.
Read full story: U.S. Raising Insurance Limit For Retirement Accounts
Source: Insurance News Net
Permalink posted by armandn @ 6:59 AM
Beacon's Fixed Annuity Premium Study Reports Fourth Quarter's Best-Selling Products
MasterDex, an indexed annuity issued by Allianz Life Insurance Company of North America, was the quarter's top-selling product in the Beacon Research Fixed Annuity Premium Study for the sixth consecutive period. Four book value products -- New York Life's LifeStages/MainStay Single Premium Fixed Annuity , Allstate Financial's Preferred Performance, John Hancock's GPA Plus, and Genworth Financial's SecureLivingsm Advantage -- were numbers two, three, four and five, respectively. Fourth quarter results include sales of some 188 products and 49 insurance companies.
Read full article: Beacon's Fixed Annuity Premium Study Reports Fourth Quarter's Best-Selling Products
Source: Insurance News Net
Read full article: Beacon's Fixed Annuity Premium Study Reports Fourth Quarter's Best-Selling Products
Source: Insurance News Net
Permalink posted by armandn @ 6:57 AM
Monday, March 13, 2006
The Poor Get Richer
I have good news and bad news. The good news is that income inequality in the U.S. -- after 30-plus years of steadily increasing -- may be decreasing. The bad news is why that trend is reversing. It looks like another lesson in how profoundly a globalizing economy is upending what we thought we knew.
Rising income inequality has settled comfortably into America's big economic picture as a reliable--and much lamented--megatrend. Starting around the late 1960s, U.S. incomes started to become more disparate. The trend was remarkably steady. Recessions might slow it down or briefly reverse it, but mostly it just marched on.
Read Full Article: The Poor Get Richer
Source: CNN/Money
Rising income inequality has settled comfortably into America's big economic picture as a reliable--and much lamented--megatrend. Starting around the late 1960s, U.S. incomes started to become more disparate. The trend was remarkably steady. Recessions might slow it down or briefly reverse it, but mostly it just marched on.
Read Full Article: The Poor Get Richer
Source: CNN/Money
Permalink posted by armandn @ 8:49 AM
Setting Up Your Pension
With more companies phasing out traditional pension plans, financial-services companies have come up with an idea -- sell investments that behave a lot like a pension.
One of the first to join the fray was MetLife Inc., which in 2004 rolled out Personal Pension Builder: You pay now for assurances that you'll receive a steady monthly check in retirement. A 40-year-old putting away $3,000 a year would get $10,200 a year starting at age 65.
Read Full Article: Setting Up Your Pension
Source: Wall Street Journal (subscription required)
One of the first to join the fray was MetLife Inc., which in 2004 rolled out Personal Pension Builder: You pay now for assurances that you'll receive a steady monthly check in retirement. A 40-year-old putting away $3,000 a year would get $10,200 a year starting at age 65.
Read Full Article: Setting Up Your Pension
Source: Wall Street Journal (subscription required)
Permalink posted by armandn @ 8:47 AM
Life Insurers Eye Windfall In Health Savings Accounts
Life Insurers with strong asset management capabilities may be well positioned to capitalize on a big pool of assets if consumer-driven health plans take off in the coming years as many predict.
Read Full Article: Life Insurers Eye Windfall In Health Savings Accounts
Source: A.M. Best (subscription required)
Read Full Article: Life Insurers Eye Windfall In Health Savings Accounts
Source: A.M. Best (subscription required)
Permalink posted by armandn @ 8:45 AM
Insurance Against The Unthinkable; CAT Riders Generally Protect Those Unable To Perform 2 of 6 ADLs
Any time you can talk to clients about disability protection, you ought to discuss the importance of catastrophic coverage and make sure any policies purchased provide adequate protection in the event that the unthinkable occurs.
A catastrophic disability benefit rider, or CAT rider, can prepare clients to face severe or life-changing disabilities that might quickly exhaust basic disability benefits. At my company, approximately 20% of our policyholders have elected catastrophic coverage.
Read Full Article: Insurance Against The Unthinkable; CAT Riders Generally Protect Those Unable To Perform 2 of 6 ADLs
Source: Insurance News Net
A catastrophic disability benefit rider, or CAT rider, can prepare clients to face severe or life-changing disabilities that might quickly exhaust basic disability benefits. At my company, approximately 20% of our policyholders have elected catastrophic coverage.
Read Full Article: Insurance Against The Unthinkable; CAT Riders Generally Protect Those Unable To Perform 2 of 6 ADLs
Source: Insurance News Net
Permalink posted by armandn @ 8:43 AM
Life By The Numbers
The year-end totals for life insurance sales will be out shortly. Chances are they will track with the trend line seen at the end of the third quarter-that is to say, flat.
According to LIMRA International, Windsor, Conn., annualized premium for all lines was up just 1% for the first three quarters compared to the same year-earlier period. Face amount was down 2% and number of policies sold was off 6%. By product line, universal life was tops, up 9% for the three quarters. But variable life dropped 13% and variable universal life fell 11%. Term and whole life fell 1% and 2%, respectively. Looking at those numbers is like watching a swimmer treading water. The industry is doing something but not going anywhere.
Read Full Article: Life By The Numbers
Source: Insurance News Net
According to LIMRA International, Windsor, Conn., annualized premium for all lines was up just 1% for the first three quarters compared to the same year-earlier period. Face amount was down 2% and number of policies sold was off 6%. By product line, universal life was tops, up 9% for the three quarters. But variable life dropped 13% and variable universal life fell 11%. Term and whole life fell 1% and 2%, respectively. Looking at those numbers is like watching a swimmer treading water. The industry is doing something but not going anywhere.
Read Full Article: Life By The Numbers
Source: Insurance News Net
Permalink posted by armandn @ 8:41 AM
Nationwide Financial Enhances marketFLEX Dynamic Advantage Program
To help investors weather today's changing market environment, Nationwide Financial Services, Inc. has announced enhancements to its Dynamic Advantage Program (DAP), an optional rider available with America's marketFLEX Annuity.
"Clients are relying more than ever on their investment professional for optimal risk management and reward within their portfolios, particularly in ever-changing market conditions," said Mark Phelan, senior vice president of Individual Investments at Nationwide Financial.
Read Full Article: Nationwide Financial Enhances marketFLEX Dynamic Advantage Program
Source: Yahoo! Fiance
"Clients are relying more than ever on their investment professional for optimal risk management and reward within their portfolios, particularly in ever-changing market conditions," said Mark Phelan, senior vice president of Individual Investments at Nationwide Financial.
Read Full Article: Nationwide Financial Enhances marketFLEX Dynamic Advantage Program
Source: Yahoo! Fiance
Permalink posted by armandn @ 8:39 AM
Friday, March 10, 2006
Older Americans Working Less, Study Finds
Americans are living longer, healthier lives than ever before, but they aren't working into their old age nearly as much as seniors did 50 years ago.
A government report released Thursday shows that only 19 percent of men 65 and older were part of the labor force in 2003, down from 46 percent in 1950.
Read Full Story: Older Americans Working Less, Study Finds
Source: Insurance News Net
A government report released Thursday shows that only 19 percent of men 65 and older were part of the labor force in 2003, down from 46 percent in 1950.
Read Full Story: Older Americans Working Less, Study Finds
Source: Insurance News Net
Permalink posted by armandn @ 7:16 AM
Action Unlikely This Year on Bills Modernizing Insurance Regulation
Legislation modernizing the insurance regulatory system will be introduced this spring in both the House and Senate, but the likelihood of passage this year is considered slim at best.
Read Full Story: Action Unlikely This Year on Bills Modernizing Insurance Regulation
Source: National Underwriter (subscription required)
Read Full Story: Action Unlikely This Year on Bills Modernizing Insurance Regulation
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 7:14 AM
HSA Growth Accelerating Among Employers and Consumers
Health savings accounts (HSAs) have become an important option for some consumers and small businesses who have struggled to afford health insurance coverage, a new census of health insurance plans released today finds.
The census, conducted by America's Health Insurance Plans (AHIP), revealed that lower-premium, high-deductible health insurance plans (HDHP) offered in conjunction with HSAs covered 3,168,000 people in January 2006, more than triple the 1,031,000 AHIP reported in March 2005.
Read Full Story: HSA Growth Accelerating Among Employers and Consumers
Source: PR Newswire
The census, conducted by America's Health Insurance Plans (AHIP), revealed that lower-premium, high-deductible health insurance plans (HDHP) offered in conjunction with HSAs covered 3,168,000 people in January 2006, more than triple the 1,031,000 AHIP reported in March 2005.
Read Full Story: HSA Growth Accelerating Among Employers and Consumers
Source: PR Newswire
Permalink posted by armandn @ 7:12 AM
For Some, It's Better To Give And Receive
John M. Rau would like to make a big donation to charity, but the 80-year-old Orange, Calif., resident is concerned about impoverishing himself by giving away too much of his money before he dies.
One solution: a charitable gift annuity.
Read Full Story: For Some, It's Better To Give And Receive
Source: Hartford Courant
One solution: a charitable gift annuity.
Read Full Story: For Some, It's Better To Give And Receive
Source: Hartford Courant
Permalink posted by armandn @ 7:10 AM
Thursday, March 09, 2006
Prudential Bulks Up in Annuities
Prudential Financial Inc., the large insurance and mutual-fund company, agreed to buy Allstate Corp.'s variable-annuity business, advancing Prudential's efforts to build its presence in that market and allowing Allstate's life-insurance business to focus on other products.
The deal, with a value of at least $560 million, also could give each party a way to boost sales; the transaction will enable each to offer products through the other's sales networks.
Read Full Story: Prudential Bulks Up in Annuities
Source: Wall Street Journal (subscription required)
The deal, with a value of at least $560 million, also could give each party a way to boost sales; the transaction will enable each to offer products through the other's sales networks.
Read Full Story: Prudential Bulks Up in Annuities
Source: Wall Street Journal (subscription required)
Permalink posted by armandn @ 7:23 AM
Transamerica Survey Shows Lack of Confidence and Knowledge in Retirement Savings
Results from the Seventh Annual Transamerica(1) Retirement Survey underscore that the nation's retirement confidence is lagging, highlighting the need for employees to have improved access to investment advice. Survey data shows that only 53 percent of employees surveyed in 2005 agree they are building a large enough retirement nest egg. Confidence is even lower among employees with household incomes of less than $50,000 (38 percent).
Read Full Story: Transamerica Survey Shows Lack of Confidence and Knowledge in Retirement Savings
Source: PR Newswire
Read Full Story: Transamerica Survey Shows Lack of Confidence and Knowledge in Retirement Savings
Source: PR Newswire
Permalink posted by armandn @ 7:21 AM
NAVA Reports Fourth Quarter Variable Annuity Industry Data
The National Association for Variable Annuities (NAVA) announced today fourth quarter results for the variable annuity industry. The combined net assets of U.S. variable annuities increased 2.3 percent to $1.20 trillion at the end of the fourth quarter, as compared with the end of the third quarter of 2005. Net assets increased by 7.0 percent relative to the end of 2004.
Read Full Story: NAVA Reports Fourth Quarter Variable Annuity Industry Data
Source: BusinessWire
Read Full Story: NAVA Reports Fourth Quarter Variable Annuity Industry Data
Source: BusinessWire
Permalink posted by armandn @ 6:25 AM
Wednesday, March 08, 2006
Financial Planners To Adopt New Code
ALL members of the Financial Planning Association will be bound by new principles for handling conflicts of interest.
The new code has been adopted as the industry begins to unravel itself from highly controversial commission payments which led to harsh criticism of planners.
They also have been dogged by the fact that many planning companies are also now owned by major banks or insurance companies which produce the investment product.
FPA chairman Corinna Dieters said the principles would help members fulfil their primary obligation to work in the interest of clients.
Read Full Story: Financial Planners To Adopt New Code
Source: Insurance News Net
The new code has been adopted as the industry begins to unravel itself from highly controversial commission payments which led to harsh criticism of planners.
They also have been dogged by the fact that many planning companies are also now owned by major banks or insurance companies which produce the investment product.
FPA chairman Corinna Dieters said the principles would help members fulfil their primary obligation to work in the interest of clients.
Read Full Story: Financial Planners To Adopt New Code
Source: Insurance News Net
Permalink posted by armandn @ 9:58 AM
Lincoln Financial Distributors Liberates Wholesalers With Two New Mobile Technology Solutions
Lincoln Financial Distributors (Lincoln), the wholesaling arm of Lincoln Financial Group, recently launched two new technology solutions for its wholesalers: a customer-relationship management (CRM) application for use on RIM's BlackBerry device and a web-based portal. Lincoln understands that its wholesalers are most effective when they are out on the job supporting their clients - financial advisors - in person. Until now, wholesalers had to spend at least some time desk-bound to input the data necessary for effectively managing those client relationships. Not anymore. Lincoln recently deployed these two new solutions to all of its wholesalers during its recent LFD National Sales Conference.
Read Full Story: Lincoln Financial Distributors Liberates Wholesalers With Two New Mobile Technology Solutions
Source: PR Newswire
Read Full Story: Lincoln Financial Distributors Liberates Wholesalers With Two New Mobile Technology Solutions
Source: PR Newswire
Permalink posted by armandn @ 9:56 AM
'Stepping Out' Conference Offers Women A Day To Learn About Finance, Health And Wellness
Prudential Financial, Inc. announced today that a new three-city women's conference series, "Stepping Out: A Day of Finance, Fitness and Fashion," will debut April 1, 2006, with an event taking place in the Bay area at the Santa Clara Convention Center. Prudential is the presenting sponsor. The full-day program, which includes workshops on the financial, health and lifestyle subjects vital to women, will feature keynote luncheon remarks from Carrie Schwab Pomerantz, chief strategist for consumer education at Charles Schwab & Co., Inc., as well as presentations from other leading authorities in financial services and health and wellness
Read Full Story: 'Stepping Out' Conference Offers Women A Day To Learn About Finance, Health And Wellness
Source: Yahoo! Finance
Read Full Story: 'Stepping Out' Conference Offers Women A Day To Learn About Finance, Health And Wellness
Source: Yahoo! Finance
Permalink posted by armandn @ 9:55 AM
Cash Value Debate Highlights Industry Changes
Any nonforfeiture model developed by regulators should recognize the economic value and the cash value in a life insurance contract, says William Koenig, a life actuary with Northwestern Mutual Life Ins. Co., Milwaukee.
Speaking at the spring meeting of the National Association of Insurance Commissioners, Koenig called the failure to recognize a contract’s economic value and offer cash in a contract “a step in the wrong direction.” So if a decision is made by regulators of the Life & Health Actuarial Task Force to continue to pursue a nonforfeiture model, then it should be developed keeping this goal in mind, he said.
Read Full Story: Cash Value Debate Highlights Industry Changes
Source: National Underwriter (subscription required)
Speaking at the spring meeting of the National Association of Insurance Commissioners, Koenig called the failure to recognize a contract’s economic value and offer cash in a contract “a step in the wrong direction.” So if a decision is made by regulators of the Life & Health Actuarial Task Force to continue to pursue a nonforfeiture model, then it should be developed keeping this goal in mind, he said.
Read Full Story: Cash Value Debate Highlights Industry Changes
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 9:53 AM
Prudential Financial To Acquire Allstate Financial's Variable Annuity Business; Transaction Will Make Prudential The Third Largest Provider of Advisor
Prudential Financial, Inc. today announced it has signed an agreement to acquire Allstate Financial's variable annuity business through a reinsurance transaction. Prudential's initial investment in the business, reflecting total consideration to Allstate, related taxes, and capital requirements, is expected to be approximately $560 million.
Read Full Story: Prudential Financial To Acquire Allstate Financial's Variable Annuity Business; Transaction Will Make Prudential The Third Largest Provider of Advisor
Source: Business Wire
Read Full Story: Prudential Financial To Acquire Allstate Financial's Variable Annuity Business; Transaction Will Make Prudential The Third Largest Provider of Advisor
Source: Business Wire
Permalink posted by armandn @ 9:49 AM
Tuesday, March 07, 2006
More Mutual Funds Hedging Their Bets
Aiming to compete with increasingly popular alternative investments and to increase performance in a weak market, many mutual fund managers have adopted strategies previously associated with hedge funds, according to recent reports. Allianz Global Investors, Julius Baer Holdings and AllianceBernstein have each sought shareholders' permission to alter their mutual fund investment styles. Other companies, such as Oppenheimer Funds, also in New York, and Principia Global Investors, based in Des Moines, Iowa, both of which had less rigid fund guidelines, already use hedge-like techniques, including intricate derivatives trades, short sales and investing borrowed cash.
More Mutual Funds Hedging Their Bets
Source: Financial-Planning.com
More Mutual Funds Hedging Their Bets
Source: Financial-Planning.com
Permalink posted by armandn @ 6:12 AM
NASD Fines New York Brokerage $400,000 For Violating Rules Meant To Protect Buyers Of Variable Life Insurance And Variable Annuities.
The NASD, a broker self-regulatory organization, yesterday fined David Lerner Associates $400,000 for violating rules meant to protect buyers of variable life insurance and variable annuities. It was the Syosset-based brokerage's fourth fine by regulators in two years.
David Lerner Associates was also suspended from conducting new business in variable life insurance and variable annuities for 30 days. The firm neither admitted nor denied wrongdoing, and said that insurance and annuities compose only "a relatively small portion" of its core products.
NASD Fines New York Brokerage $400,000 For Violating Rules Meant To Protect Buyers Of Variable Life Insurance And Variable Annuities.
Source: Insurance News Net
David Lerner Associates was also suspended from conducting new business in variable life insurance and variable annuities for 30 days. The firm neither admitted nor denied wrongdoing, and said that insurance and annuities compose only "a relatively small portion" of its core products.
NASD Fines New York Brokerage $400,000 For Violating Rules Meant To Protect Buyers Of Variable Life Insurance And Variable Annuities.
Source: Insurance News Net
Permalink posted by armandn @ 6:00 AM
Genworth Financial Focusing on Hispanics in South Texas
Genworth Financial Inc. announced it is launching a comprehensive campaign for the Hispanic communities in Corpus Christi and Rio Grande Valley designed to increase awareness about the importance of having a financial '"safety net" - life insurance as part of a sound family financial plan.
Genworth Financial Focusing on Hispanics in South Texas
Source: Insurance Journal
Genworth Financial Focusing on Hispanics in South Texas
Source: Insurance Journal
Permalink posted by armandn @ 5:59 AM
Indies get inventive in helping reps push insurance products
Independent-contractor broker-dealers are becoming ever more inventive in devising ways for registered representatives and advisers to sell insurance products, some of which securities regulators have pointed to as vulnerable to sales abuses.
In December, an insurance marketing company, Asset Marketing Systems Insurance Services LLC of San Diego, said it had opened an independent broker-dealer that specializes in helping reps sell equity index annuities, a fixed-insurance product that has become a target of securities regulators.
Indies get inventive in helping reps push insurance products
Source: Investment News (subscription required)
In December, an insurance marketing company, Asset Marketing Systems Insurance Services LLC of San Diego, said it had opened an independent broker-dealer that specializes in helping reps sell equity index annuities, a fixed-insurance product that has become a target of securities regulators.
Indies get inventive in helping reps push insurance products
Source: Investment News (subscription required)
Permalink posted by armandn @ 5:55 AM
NAIC Committee OKs Suitability Expansion
A high-level panel at the National Association of Insurance Commissioners has approved a proposal that could require annuity sellers to review the financial needs of young annuity purchasers.
The NAIC’s Life Insurance and Annuities Committee voted here at the NAIC’s spring meeting to approve a proposal to change the Senior Protections in Annuity Transactions model regulation.
NAIC Committee OKs Suitability Expansion
Source: National Underwriter (subscription required)
The NAIC’s Life Insurance and Annuities Committee voted here at the NAIC’s spring meeting to approve a proposal to change the Senior Protections in Annuity Transactions model regulation.
NAIC Committee OKs Suitability Expansion
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 5:53 AM
Hancock Enhances Flagship Variable Annuity Optional Withdrawal Benefit
John Hancock has improved its flagship optional withdrawal benefit, the Principal Plus For Life (PPFL) rider,* available on the company's Venture® Variable Annuities, effective February 13 in most states. The enhancements augment a key "step-up" provision, providing more opportunity to lock in market gains and boost retirement income.
Hancock Enhances Flagship Variable Annuity Optional Withdrawal Benefit
Source: Yahoo! Finance
Hancock Enhances Flagship Variable Annuity Optional Withdrawal Benefit
Source: Yahoo! Finance
Permalink posted by armandn @ 5:50 AM
Monday, March 06, 2006
Consequences Of Neglecting Life Insurance Can Be Tragic
Proper life insurance coverage can determine whether your family members face a comfortable future -- or financial ruin.
Unfortunately, many consumers put off buying life insurance until it's too late. According to a survey published by the industry trade organization LIMRA, 25 percent of Americans say they have no plan in place to provide a decent standard of living for their family members if they died tomorrow.
BizJournals: Consequences Of Neglecting Life Insurance Can Be Tragic
Unfortunately, many consumers put off buying life insurance until it's too late. According to a survey published by the industry trade organization LIMRA, 25 percent of Americans say they have no plan in place to provide a decent standard of living for their family members if they died tomorrow.
BizJournals: Consequences Of Neglecting Life Insurance Can Be Tragic
Permalink posted by markw @ 5:16 PM
Boomers Can't Count On Pension Plans
When DuPont retiree Jim Riggleman entered the work force in 1964 with a Ph.D. in horticulture and plant physiology from the University of Maryland, each of the companies he considered joining had one thing in common: a pension.
"I looked at a pension plan as a basic," said Riggleman, now 73. He went on to spend 29 years with DuPont, working for the crop protection division, most recently as manager for licenses and technology transfers, until taking an early retirement offer in 1993.
Delaware Online: Boomers Can't Count On Pension Plans
"I looked at a pension plan as a basic," said Riggleman, now 73. He went on to spend 29 years with DuPont, working for the crop protection division, most recently as manager for licenses and technology transfers, until taking an early retirement offer in 1993.
Delaware Online: Boomers Can't Count On Pension Plans
Permalink posted by markw @ 10:48 AM
Donors Can Get Good Return With Charitable Gift Annuity
John Rau would like to make a big donation to charity, but the 80-year-old Orange, Calif., resident is concerned about impoverishing himself by giving away too much of his money before he dies.
One solution: a charitable gift annuity.
Star-Telegram: Donors Can Get Good Return With Charitable Gift Annuity
One solution: a charitable gift annuity.
Star-Telegram: Donors Can Get Good Return With Charitable Gift Annuity
Permalink posted by markw @ 5:18 AM
Roth 401(k)s Give Breaks To Some
Imagine having your lifetime's savings all to yourself, never having to share a penny with Uncle Sam.
If you work for some companies, that option is at hand.
Starting this year, companies have begun to offer their employees what are called Roth 401(k)s.
These products are a cross between the old 401(k) you've known for years, and the Roth IRA you might have used away from work.
Hartford Courant: Roth 401(k)s Give Breaks To Some
If you work for some companies, that option is at hand.
Starting this year, companies have begun to offer their employees what are called Roth 401(k)s.
These products are a cross between the old 401(k) you've known for years, and the Roth IRA you might have used away from work.
Hartford Courant: Roth 401(k)s Give Breaks To Some
Permalink posted by markw @ 5:17 AM
Friday, March 03, 2006
401(k) Plan Participant Rates Continue to Decline
More employees are either investing sparingly or failing to enroll at all in 401(k) plans, according to a study from The Spectrem Group Inc.
But less easily dispelled are the growing numbers of employees who are taking a pass on the plans altogether.
The participation rate fell to 70% in 2005 from 80% in 1999, according to Spectrem, which surveyed 500 employers who sponsor plans.
401(k) Plan Participant Rates Continue to Decline
Source: Investment News (subscription required)
But less easily dispelled are the growing numbers of employees who are taking a pass on the plans altogether.
The participation rate fell to 70% in 2005 from 80% in 1999, according to Spectrem, which surveyed 500 employers who sponsor plans.
401(k) Plan Participant Rates Continue to Decline
Source: Investment News (subscription required)
Permalink posted by armandn @ 8:22 AM
General Electric Prices Genworth Secondary
General Electric priced a secondary offering of its former Genworth unit and affirmed earnings guidance for the current quarter and year.
GE, which spun off Genworth last year, said it sold 71 million Class A shares of the insurance outfit for $32.75 apiece through underwriters led by Merrill Lynch. Including another 15 million Class B shares GE sold back to Genworth, the company raised $2.8 billion, which it will use for "industrial acquisitions" and buybacks.
General Electric Prices Genworth Secondary
Source: The Street
GE, which spun off Genworth last year, said it sold 71 million Class A shares of the insurance outfit for $32.75 apiece through underwriters led by Merrill Lynch. Including another 15 million Class B shares GE sold back to Genworth, the company raised $2.8 billion, which it will use for "industrial acquisitions" and buybacks.
General Electric Prices Genworth Secondary
Source: The Street
Permalink posted by armandn @ 8:21 AM
Nationwide Financial Adds Lifetime Income Rider To Living Benefits Lineup
Baby Boomers approaching or entering longer, more active retirement horizons are imagining a scary scenario: outliving their income.
With today's widespread elimination of private pension plans, Social
Security that is anything but secure and a volatile stock market, individuals
need to look beyond these traditional means to supplement their retirement
income.
Nationwide Financial Adds Lifetime Income Rider To Living Benefits Lineup
Source: PR Newswire
With today's widespread elimination of private pension plans, Social
Security that is anything but secure and a volatile stock market, individuals
need to look beyond these traditional means to supplement their retirement
income.
Nationwide Financial Adds Lifetime Income Rider To Living Benefits Lineup
Source: PR Newswire
Permalink posted by armandn @ 8:20 AM
Saving To Retire? Bank Option Gets Better
Thanks to a federal budget bill signed into law this month, using bank accounts to store large sums for retirement may become a more attractive option.
The legislation contains long-sought reforms to federal deposit insurance, which covers as much as $100,000 per depositor.
The biggest change: Starting no later than November, depositors will get as much as $250,000 in insurance coverage for retirement accounts. The amount covered in other accounts will stay at $100,000.
Saving To Retire? Bank Option Gets Better
Source: Hartford Courant
The legislation contains long-sought reforms to federal deposit insurance, which covers as much as $100,000 per depositor.
The biggest change: Starting no later than November, depositors will get as much as $250,000 in insurance coverage for retirement accounts. The amount covered in other accounts will stay at $100,000.
Saving To Retire? Bank Option Gets Better
Source: Hartford Courant
Permalink posted by armandn @ 8:18 AM
Prudential Financial Incorporates Mexican Life Insurance Company
Arthur Ryan, Chairman and CEO of Prudential Financial Inc., announced today it has incorporated a new life insurance company in Mexico. The new company, Prudential Seguros Mexico, S.A., will sell protection-oriented life insurance products through highly trained professionals, known as Life Planners(sm). The Life Planners will assist consumers in making the right decisions about the insurance needs to help protect their families.
Prudential Financial Incorporates Mexican Life Insurance Company
Source: Yahoo! Finance
Prudential Financial Incorporates Mexican Life Insurance Company
Source: Yahoo! Finance
Permalink posted by armandn @ 8:16 AM
Thursday, March 02, 2006
SEC Probing Insurance Sales
MetLife Inc., the largest U.S. life insurer, said the U.S. Securities and Exchange Commission is investigating sales practices at its New England Securities unit.
SEC Probing Insurance Sales
Source: The Buffalo News
SEC Probing Insurance Sales
Source: The Buffalo News
Permalink posted by armandn @ 7:58 AM
'Millionaire' Index Rising
The Spectrem Millionaire Index, which measures the investment outlook of households with $1,000,000, gained a point in February to reach a level of 23, a record fourth advance in a row.
"The millionaire population tends to be more optimistic than the affluent market in total," said George Walper Jr. president of the Chicago-based Spectrem Group, which tracks the index.
'Millionaire' Index Rising
Source: Investment News (subscription required)
"The millionaire population tends to be more optimistic than the affluent market in total," said George Walper Jr. president of the Chicago-based Spectrem Group, which tracks the index.
'Millionaire' Index Rising
Source: Investment News (subscription required)
Permalink posted by armandn @ 7:56 AM
Horace Mann Unveils New Life Insurance Products For Educators
Horace Mann Educators Corporation has released Life by Design, a new portfolio of life insurance products, giving America's educators greater choices when protecting their families.
The Life by Design portfolio features new individual and joint whole life, and individual and joint term products. Included in the new choices are individual and joint 10-, 20- and 30-year level term policies. The policies have premiums that are guaranteed for the life of the customer and offer lower minimum face amounts.
Horace Mann Unveils New Life Insurance Products For Educators
Source: Yahoo! Finance
The Life by Design portfolio features new individual and joint whole life, and individual and joint term products. Included in the new choices are individual and joint 10-, 20- and 30-year level term policies. The policies have premiums that are guaranteed for the life of the customer and offer lower minimum face amounts.
Horace Mann Unveils New Life Insurance Products For Educators
Source: Yahoo! Finance
Permalink posted by armandn @ 7:54 AM
Retiring Boomers Advised To Be Aware Of Annuities
Five years ago, the Johnstons went to a Durham financial planner. They wanted to sell several properties, defer their taxes and convert their money into a steady retirement income.
The planner sold them an annuity, an investment vehicle wrapped in an insurance policy that lets invested assets appreciate tax-free until drawn upon. He promised an 18 percent return, high but not unreasonable, Ed Johnston thought. "This guy talked like it was the greatest thing since white bread," he said.
The planner didn't explain that there would be a 7 percent sales fee or separate ongoing management fees, the Johnstons said. Nor did they understand that the variable annuity they were sold was linked to a speculative growth fund that lost money as the stock market tanked. Five years later, the Hillsborough couple estimates that they have lost about $600,000 through the annuity and a series of insurance products tied to it.
The Johnstons, now in their 70s, are working feverishly to win back those lost resources, instead of lolling in easy chairs as previously planned.
Retiring Boomers Advised To Be Aware Of Annuities
Source: Insurance News Net
The planner sold them an annuity, an investment vehicle wrapped in an insurance policy that lets invested assets appreciate tax-free until drawn upon. He promised an 18 percent return, high but not unreasonable, Ed Johnston thought. "This guy talked like it was the greatest thing since white bread," he said.
The planner didn't explain that there would be a 7 percent sales fee or separate ongoing management fees, the Johnstons said. Nor did they understand that the variable annuity they were sold was linked to a speculative growth fund that lost money as the stock market tanked. Five years later, the Hillsborough couple estimates that they have lost about $600,000 through the annuity and a series of insurance products tied to it.
The Johnstons, now in their 70s, are working feverishly to win back those lost resources, instead of lolling in easy chairs as previously planned.
Retiring Boomers Advised To Be Aware Of Annuities
Source: Insurance News Net
Permalink posted by armandn @ 7:53 AM
John Hancock 2005 Bank Variable Annuity Sales Hit Record $1.0B -- Up 106% Over 2004
John Hancock announced today that 2005 variable annuity sales through banks hit an all-time record of $1.0 billion, an 106% increase over 2004, that made John Hancock the 4th largest seller of variable annuities through banks in the industry, from 10th in 2004, according to VARDS.
John Hancock 2005 Bank Variable Annuity Sales Hit Record $1.0B -- Up 106% Over 2004
Source: PR Newswire
John Hancock 2005 Bank Variable Annuity Sales Hit Record $1.0B -- Up 106% Over 2004
Source: PR Newswire
Permalink posted by armandn @ 7:52 AM
Wednesday, March 01, 2006
2,500 Financial Institutions Gain Access To "Best Choice" Long Term Care Insurance Benefits Through Unique Partnerships
Over 2100 credit unions and 400 regional banks now have the ability to offer long term care insurance plans to their customers as the result of an agreement signed between Allied Solutions, one of the nation's leading credit union and bank marketing firms, and Long Term Care Associates, Inc., a leading national insurance affinity marketer.
"Long term care insurance is such a critical part of retirement planning
and security. Today, boomers and retirees need a trusted source to whom they can turn to sort out this complex issue. Oftentimes, it's their credit union.
2,500 Financial Institutions Gain Access To "Best Choice" Long Term Care Insurance Benefits Through Unique Partnerships
Source: PR Newswire
"Long term care insurance is such a critical part of retirement planning
and security. Today, boomers and retirees need a trusted source to whom they can turn to sort out this complex issue. Oftentimes, it's their credit union.
2,500 Financial Institutions Gain Access To "Best Choice" Long Term Care Insurance Benefits Through Unique Partnerships
Source: PR Newswire
Permalink posted by armandn @ 7:42 AM
Fact Book Shows Effects of GLB, Boomers
Regulatory changes are helping banks sell more insurance, and the baby boomers are getting older.
The new edition of the Financial Services Fact Book tells those stories in columns of data.
The Financial Services Roundtable, Washington, and the Insurance Information Institute, Washington, the publishers of the new fact book, released the book here today at an economic outlook briefing.
Fact Book Shows Effects of GLB, Boomers
Source: National Underwriter (subscription require)
The new edition of the Financial Services Fact Book tells those stories in columns of data.
The Financial Services Roundtable, Washington, and the Insurance Information Institute, Washington, the publishers of the new fact book, released the book here today at an economic outlook briefing.
Fact Book Shows Effects of GLB, Boomers
Source: National Underwriter (subscription require)
Permalink posted by armandn @ 7:41 AM
MetLife Study Finds Employers/Employees Worry About Aging Workforcing and Retirement Security, But Few Take Steps To Address Situation
More than one-third (34%) of all employers - and nearly half (46%) with 25,000 or more workers - agree that the aging workforce will have a significant impact on their company, yet more than three-quarters (79%) have not taken any steps to accommodate older workers, according to the 2005/2006 MetLife Employee Benefits Trend Study. This comes at a time when one-third (33%) of Baby Boomers (age 41-60) have not yet determined when they plan to retire from work. Further, more than half (58%) of young Baby Boomers (age 41-50) are worried that they will have to work either full- or part-time to live comfortably during retirement and 61% say that "outliving retirement money" is their number one retirement-related fear. Fueling these concerns is the fact that 27% of these Boomers admit to being "significantly behind" in their savings, and one in ten hasn't even started saving.
MetLife Study Finds Employers/Employees Worry About Aging Workforcing and Retirement Security, But Few Take Steps To Address Situation
Source: Yahoo! Finance
MetLife Study Finds Employers/Employees Worry About Aging Workforcing and Retirement Security, But Few Take Steps To Address Situation
Source: Yahoo! Finance
Permalink posted by armandn @ 7:39 AM
Complexity And Apathy Leading Challenges For Financial Professionals
Financial professionals today are finding themselves pressed between two competing forces: retail clients growing increasingly reluctant to investment guidance, and product providers -- financial services companies -- inundating them with complicated products and paperwork. According to ING U.S. Financial Services, there is a single way to tame these dual challenges: by making financial products, processes, and information easier for producers and clients alike.
Complexity And Apathy Leading Challenges For Financial Professionals
Source: PR Newswire
Complexity And Apathy Leading Challenges For Financial Professionals
Source: PR Newswire
Permalink posted by armandn @ 7:37 AM
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