Thursday, May 31, 2007

 

MIB Life Index Reports North American Life Insurance Activity Down 1.6% in April

North American application activity for individually underwritten life insurance was off -1.6% in April year-over-year, according to the MIB Life Index. The year-to-date (YTD) decline of -4.6% over January-April 2006, compares less favorably to a -1.1% decline seen during the first four months of last year, January-April 2006/2005. Month-over-month, April's application volume was down -2.8% from March 2007 levels.

MIB Life Index Reports North American Life Insurance Activity Down 1.6% in April
Source: PR Newswire

Permalink posted by armandn @ 7:54 AM
 

Life Insurance Settlement Association Webinar: Why The NAIC Model Settlement Act Is Bad

The Life Insurance Settlement Association (LISA) invites all interested parties to a FREE webinar this Friday, June 1st, 11 a.m. (EDT), to ensure financial and insurance professionals fully understand the impact of the current NAIC (National Association of Insurance Commissioners) proposal regarding a settlement industry model.

Life Insurance Settlement Association Webinar: Why The NAIC Model Settlement Act Is Bad
Source: Insurance News Net

Permalink posted by armandn @ 7:53 AM
 

NY Gov. Spitzer Vows to Modernize State's Financial Services Regulation

New York Governor Eliot Spitzer has created a commission to identify ways for New York to enhance its status as a world financial capital by modernizing its regulatory scheme and perhaps merging state regulation of insurance, banking and securities.

NY Gov. Spitzer Vows to Modernize State's Financial Services Regulation
Source: Insurance Journal

Permalink posted by armandn @ 7:52 AM
 

Principal Financial Group Offers New Retirement Savings Platform for Underserved Micro-Market

Building on its commitment to providing top-tier retirement savings options to employers of all sizes, the Principal Financial Group®, nation’s 401(k) leader1 and total retirement solutions innovator, is rolling out Principal Advantage® for Emerging Businesses. This new service package utilizes the Principal Advantage investment platform, and is offered exclusively through third party administrators (TPAs) to provide growing businesses a comprehensive, big plan service package at a competitive price.

Principal Financial Group Offers New Retirement Savings Platform for Underserved Micro-Market
Source: Business Wire

Permalink posted by armandn @ 7:51 AM

Wednesday, May 30, 2007

 

Symetra's Low Cost, High-Value 'Focus:' The Smart Variable Annuity Choice

Symetra Life Insurance Company has introduced a distinctive new variable annuity that is among the most cost- effective of such products on the market. The Symetra Focus Variable Annuity is also one of the only variable annuities available featuring index investment options from Vanguard. The product's low-cost structure and premier investment options are designed to help clients keep more of the returns generated from investments linked to the annuity.

Symetra's Low Cost, High-Value 'Focus:' The Smart Variable Annuity Choice
Source: PR Newswire

Permalink posted by armandn @ 10:19 AM
 

The Hartford's Life Policies Offer Some New Protections Against the Uncertainties of Life

For people who need life insurance and are comfortable with the risks of equity investing, variable universal life (VUL) has long been an option to protect families from the premature death of a breadwinner. Now, variable universal life can provide a valuable source of benefits for living needs, too.

The Hartford's Life Policies Offer Some New Protections Against the Uncertainties of Life
Source: Business Wire

Permalink posted by armandn @ 10:17 AM
 

Insurance Companies Say 'Too Much Regulation' is a Global Concern, CSFI Banana Skins Poll with PriceWaterhouseCoopers Finds

Regulatory overkill is the greatest risk facing the global insurance industry, according to the CSFI's latest Banana Skins survey, in association with PricewaterhouseCoopers LLP. PwC has provided longstanding support for the CSFI's Banana Skins surveys in the banking sector and thereby recognized that a similar study of risks in the insurance industry was a natural extension of the series.

Insurance Companies Say 'Too Much Regulation' is a Global Concern, CSFI Banana Skins Poll with PriceWaterhouseCoopers Finds
Source: PR Newswire

Permalink posted by armandn @ 10:16 AM
 

New Generation of Variable Annuities Provides More Flexibility and Benefit Options

AXA Equitable Life Insurance Co. today premiered enhancements to its Accumulator(R) series of variable annuities, including an expanded choice of "living benefits" and the unbundling of optional income and death benefits.


"The variable annuities that are available now are more sophisticated and offer more benefits than those from 10 years ago," said Barbara Goodstein, AXA Equitable's Executive Vice President of Marketing and Product Development. "In addition to securing guaranteed income for life and providing a legacy for loved ones, the new generation of annuities gives contract holders a great deal of flexibility. Americans who are at or near retirement can customize the living benefits that best match their needs and goals."

New Generation of Variable Annuities Provides More Flexibility and Benefit Options
Source: Insurance News Net

Permalink posted by armandn @ 10:02 AM

Tuesday, May 29, 2007

 

75% of Consumers Like Personalized Service

Three-quarters of consumers are very satisfied with the service provided by their insurance agents and remain committed to working with them in the future, according to a new survey of 1,000 American consumers commissioned by IBM.

U.S. consumers want personalized service and human interaction from their insurance providers, says the survey, which comes at a time when agent-based carriers are facing increased competition by direct channels and direct-only insurance carriers.

75% of Consumers Like Personalized Service
Source: Insurance Networking News

Permalink posted by armandn @ 10:18 AM
 

John Hancock Announces New Long Term Care Insurance Product Suite for California

John Hancock Life Insurance Company has introduced a new, competitively priced long term care insurance product suite for the individual market in California. Called Custom Care II California and Custom Care II California Partnership, both policies offer comprehensive, more affordable long term care (LTC) insurance coverage, a broader range of home care options, and valuable caregiving and care planning support for policyowners. Under the California Partnership plan, California policyholders can protect their assets -- equal to the dollar value of the benefits paid out of the policy -- before qualifying for Medi-Cal.

John Hancock Announces New Long Term Care Insurance Product Suite for California
Source: Yahoo! Finance

Permalink posted by armandn @ 10:17 AM
 

Retiring Soon? Annuities Have Appeal, Just Watch for Contracts' Hidden Traps

With the oldest U.S. baby boomers staring down retirement, the financial industry is betting sales of annuities will take off.

In response, annuity providers are rolling out new products and features aimed at enticing people who worry that they might outlive the money they have been able to save.

Retiring Soon? Annuities Have Appeal, Just Watch for Contracts' Hidden Traps
Source: Insurance News Net

Permalink posted by armandn @ 10:16 AM
 

Certified Filings Promote Speed to Market Initiatives

Speed to market is a perennial hot topic as insurers hasten to meet pent-up product demand in key markets. New York, Texas, Illinois and several other states are responding by accelerating product approvals through “certified filings.”

Certified Filings Promote Speed to Market Initiatives
Source: National Underwriter (subscription required)

Permalink posted by armandn @ 10:14 AM
 

Copycats Eye Variable Annuity Features

It is arguable that the most popular features to be added to variable annuities in recent years are guaranteed minimum withdrawal benefits. Many mainstream VA insurers have added these features to their products, which have proven to be extremely popular with producers and consumers alike.

Copycats Eye Variable Annuity Features
Source: National Underwriter (subscription required)

Permalink posted by armandn @ 10:12 AM

Friday, May 25, 2007

 

John Hancock Enables Producers to Complete Life Insurance Applications Electronically

John Hancock has enhanced its JH Illustrator software system, making it now possible for producers to complete life insurance applications electronically.

Building on an application wizard added to the software system last year, John Hancock has essentially eliminated all handwriting -- except for the producer and client's signature -- from the application process.

John Hancock Enables Producers to Complete Life Insurance Applications Electronically
Source: PR Newswire

Permalink posted by armandn @ 7:53 AM
 

Fixed Index Annuities: The Perfect Annuity for First Time Investors

People invest for various reasons. Some take a gamble in order to purchase that dream house or travel the world. For others, the motivation is a roaring Porsche or a stately yacht. And some use the earnings to fund charity work.

According to James Investment Research Inc no matter what the financial goals are, investing makes sense. However, first time investors should do so with great caution particularly if they are exposing their nest egg to financial risks.

Fixed Index Annuities: The Perfect Annuity for First Time Investors
Source: Insurance News Net

Permalink posted by armandn @ 7:52 AM
 

Your Client's Life Insurance Policies Can Now Remind You When They Need Service Just Like Your Car

Today’s cars indicate when it’s time for service, so why not do the same for life insurance policies? That is the inspiration for Planned Performance Tracking from Pacific Life Insurance Company and Pacific Life & Annuity. This new web-based system uses state of the art technology to deliver automated reminders, completed inforce illustrations, no lapse calculators and a host of tools to insurance professionals selling the companies’ life insurance products.

Your Client's Life Insurance Policies Can Now Remind You When They Need Service Just Like Your Car
Source: Business Wire

Permalink posted by armandn @ 7:50 AM
 

RiverSource Annuities Launches SecureSource Guaranteed Lifetime Withdrawal Benefit

Individuals who purchase a RiverSource® variable annuity from a bank or independent broker-dealer can choose a valuable new feature called SecureSourceSM guaranteed lifetime withdrawal benefit. SecureSource is an optional living benefit rider, available for an additional fee, which offers flexibility with single life or joint life options for receiving guaranteed lifetime income. SecureSource is designed to match client income needs and accumulation goals, providing market growth potential while managing the risks of market performance, longevity and inflation.

RiverSource Annuities Launches SecureSource Guaranteed Lifetime Withdrawal Benefit
Soure: Business Wire

Permalink posted by armandn @ 7:49 AM

Thursday, May 24, 2007

 

Sale of Phoenix in Next Year Now Less Likely, Analyst Says

The Phoenix Cos.' stock fell 89 cents, or 5.4 percent Wednesday, to $15.49 a share after a UBS analyst said an acquisition of the Hartford-based company in the next year seems less likely than previous predictions.

UBS Investment Research analyst Andrew Kligerman downgraded the stock to a neutral rating from a buy, and said "management seems resolute about remaining independent and carrying out its business plan, based on repeated indications by the company."

Sale of Phoenix in Next Year Now Less Likely, Analyst Says
Source: Hartford Courant

Permalink posted by armandn @ 10:35 AM
 

Prudential Retirement Revamps "Participant Website" to Help Individuals Achieve More Secure Retirement

As part of an ongoing commitment to continually improve its products and services for retirement-plan participants, Prudential Retirement has completely redesigned its participant website to make it easier to use, and to create a more useful and meaningful experience for individuals seeking online help in making appropriate retirement-planning decisions.

Prudential Retirement Revamps "Participant Website" to  Help Individuals Achieve More Secure Retirement
Source: Yahoo! Finance

Permalink posted by armandn @ 10:34 AM
 

ING Variable Annuity Informational Kit Rated Best by Financial Professionals

Retiring Baby Boomers exploring variable annuities as a retirement income option sometimes are bewildered by the complex combination of investments and insurance products and features. Fortunately for investors interested in variable annuities, ING Variable Annuity, a marketing arm of ING U.S. Financial Services, has been cited for bringing improved clarity and simplicity to variable annuity marketing communications.

ING Variable Annuity Informational Kit Rated Best by Financial Professionals
Source: PR Newswire

Permalink posted by armandn @ 10:32 AM
 

Disability Insurance - Awareness Needs to Grow for a Product as Important as Life Insurance

Many experts agree that the protection of disability insurance is as crucial as life insurance itself because the possibility of becoming disabled is higher than most people think.

Without disability insurance, an employed individual who gets sidelined by an accident or a serious illness loses part if not all income. If the injured or sick person is the sole family breadwinner the devastating effect is magnified further. The damage can impact income, savings and investments as well.

Disability Insurance - Awareness Needs to Grow for a Product as Important as Life Insurance
Source: Insurance News Net

Permalink posted by armandn @ 10:30 AM

Wednesday, May 23, 2007

 

New Survey Reveals Interest In Long Term Care Insurance Is On the Rise Among Agents, Brokers and Consumers

Many insurance agents and brokers are seeing consumer interest in long term care (LTC) insurance growing and an even greater number anticipate they'll be asked about it more frequently in the future according to an online survey of 400 Million Dollar Round Table (MDRT) members conducted for John Hancock Life Insurance Company (John Hancock) in March 2007.

New Survey Reveals Interest In Long Term Care Insurance Is On the Rise Among Agents, Brokers and Consumers
Source: PR Newswire

Permalink posted by armandn @ 7:36 AM
 

Impact on Annuities: Legislators Reintroduce the Retirement Security for Life Act

Representatives Stephanie Tubbs Jones (D-OH) and Phil English (R-PA) reintroduced the bipartisan Retirement Security for Life Act (H.R. 819). The tax legislation is designed to promote life annuities as a means for ensuring retirement security of Americans.

Impact on Annuities: Legislators Reintroduce the Retirement Security for Life Act
Source: Insurance News Net

Permalink posted by armandn @ 7:34 AM
 

MassMutual Sponsors First-Ever Study of Plan Sponsor Views of Retirement Advisors

MassMutual Retirement Services has published a white paper entitled, "The Successful Retirement Advisor: Quantitative Research Analyzing Plan Sponsors' Needs and Experiences." Research for the report was commissioned by MassMutual and conducted by Brightwork Partners, LLC. The research sought to identify the needs and satisfaction levels of plan sponsors and how advisors can bridge the gaps as they strive to build a more successful retirement services practice.

MassMutual Sponsors First-Ever Study of Plan Sponsor Views of Retirement Advisors
Source: PR Newswire

Permalink posted by armandn @ 7:33 AM
 

Manulife Financial Launches Group Critical Illness Insurance to Help Canadian Plan Members and Their Families

Manulife Financial Group Benefits unveiled new group insurance today to offer lump-sum benefits to Canadian plan members and their families diagnosed with a critical illness.

"Manulife is proud to offer this product, which is specifically designed to help employees and their families at a time when they need financial help the most," said Rick Brunet, Executive Vice President, Group Benefits, for Manulife Financial in Canada. "When critical illness strikes, you're faced with many unexpected expenses besides the ones covered under government and group benefits plans. Group Critical Illness Insurance from Manulife provides money for those expenses, leaving employees free to focus on recovery."

Manulife Financial Launches Group Critical Illness Insurance to Help Canadian Plan Members and Their Families
Source: Yahoo! Finance

Permalink posted by armandn @ 7:32 AM

Tuesday, May 22, 2007

 

NASD: Friend or Foe?

How should insurance agents, brokers and sales people regard the NASD?

NASD is the main Self Regulatory Organization (SRO) in charge of its industry under the supervision of the Securities and Exchange Commission. With a staff of almost 2,500 and an annual budget exceeding $500 million, NASD’s role includes watching over the activities of almost 5,100 brokerage firms, approximately 171,000 branch offices, and more than 663,000 registered securities representatives.

NASD: Friend or Foe?
Source: Insurance News Net

Permalink posted by armandn @ 6:55 AM
 

U.S. Life Insurers Could Get Boost From Small Businesses, Low and Moderate Income Workers

Simplified retirement savings plans proposed by a coalition of life insurers, business and consumer advocates could provide life insurers with a potentially lucrative market: Millions of low- and moderate-income workers employed by small businesses that need to boost their retirement savings.

U.S. Life Insurers Could Get Boost From Small Businesses, Low and Moderate Income Workers
Source: A.M. Best (subscription required)

Permalink posted by armandn @ 6:53 AM
 

The Many Merits of MetLife

We believe MetLife a large, well-diversified company, will be able to thrive in the current competitive insurance environment. The company will be able to expand its market share by leveraging its strong brand name, substantial distribution capabilities, and leading position in a broad range of protection and asset-accumulation products.

The Many Merits of MetLife
Source: Business Week

Permalink posted by armandn @ 6:52 AM
 

Insurance: Life

In a good year for the life-insurance business, timing was important to topping the list of the industry's analysts.

As shares of several life-insurance companies notched double-digit percentage gains in 2006, Robert R. Glasspiegel of Langen McAlenney won the top spot in the sector with his buy calls on two stocks.

Insurance: Life
Source: Wall Street Journal (subscription required)

Permalink posted by armandn @ 6:51 AM

Monday, May 21, 2007

 

Immediate Annuities Grow in Popularity for Providing Retirement Income to Baby Boomers

AnnuityAdvantage.com announced today the availability of new online resources to assist the first wave of retiring Baby Boomers transition from retirement savings accumulation to retirement savings disbursement.

With advancements in medicine and healthier lifestyles, people are living longer than ever. While the prospect of a longer life is certainly appealing, many of today's retirees are not adequately prepared to provide income during what could be a 30-40 year retirement.

Immediate Annuities Grow in Popularity for Providing Retirement Income to Baby Boomers
Source: PR Web

Permalink posted by armandn @ 7:33 AM
 

Sun Life Financial Named Top Variable Annuity Provider by Banks

The U.S. division of Sun Life Financial has been named as the Top Variable Annuity Provider by the 2006 Study of Bank Brokerage & Retail Investment Services conducted by American Brokerage Consultants and American Banker. Sun Life was also ranked as the third best fixed annuity provider by the survey.

Sun Life Financial Named Top Variable Annuity Provider by Banks
Source: Business Wire

Permalink posted by armandn @ 7:32 AM
 

A Look at Baby Boomers: How to Get Their Attention in Business

Boomers around the world are reinventing their lives. According to Dr. Mary Furlong, baby boomers are searching for new places to work and places to see. They want new ways to spend time with their children and grandchildren and new ways to remain significant and connected through the years. And each new choice represents a signal of enormous business opportunity, says Furlong.

A Look at Baby Boomers: How to Get Their Attention in Business
Source: Insurance News Net

Permalink posted by armandn @ 7:30 AM
 

Microsoft Releases Insurance Value Chain Scenarios and Live Demos

Giving insurance customers a head start toward developing applications that solve key business issues, Microsoft Corp. today announced it has released new self-running demos, business solution documents and other updated content as part of its Insurance Value Chain (IVC) initiative.

Microsoft Releases Insurance Value Chain Scenarios and Live Demos
Source: PR Newswire

Permalink posted by armandn @ 7:28 AM

Friday, May 18, 2007

 

New Study Explores Impact of Emotions on Retirement Investors

Five dominant emotions can influence retirement investors to react to market uncertainty in ways that may not be in their best interest, a new study released today by Prudential Financial, Inc. has found.

The "Behavioral Risk in The Retirement Red Zone®" research report explores the link between emotions and financial decision-making in investors approaching or in The Retirement Red Zone, the critical investment window five years before and after retirement. The report found that although three of four investors--76%--are affected by their emotions to a moderate or high degree, only one third (35%) believe emotions impact their investment decisions.

New Study Explores Impact of Emotions on Retirement Investors
Source: Business Wire

Permalink posted by armandn @ 12:02 PM
 

American Financial to Acquire Remainder of Great American for $225M

The board of Great American Financial Resources Inc. has given its approval to an offer by parent American Financial Group to acquire the remaining shares of the company.

American Financial will pay $24.50 per share in cash, or about $225 million in total, for the remaining 19 percent of the shares it doesn't already own, according to a news release. That's $1 per share more than American Financial offered when it first proposed the deal in February.

American Financial to Acquire Remainder of Great American for $225M
Source: Biz Journals (subscription may be required)

Permalink posted by armandn @ 11:59 AM
 

New 'Wish I Knew' Study Shows Majority of Parents Didn't Save Enough for College

College teaches many things to students -- but their parents are the ones who have learned that they should have saved more to pay for that education. According to a national "wish I knew" survey, conducted by Synovate for John Hancock Freedom 529 college savings plan, of more than 500 parents who have or have had a child in college in the past 10 years, 53.2 percent said they didn't save enough for college and 55 percent said they wished they had started saving earlier.

New 'Wish I Knew' Study Shows Majority of Parents Didn't Save Enough for College
Source: PR Newswire

Permalink posted by armandn @ 11:58 AM
 

Nationwide Financial Named as Finalist in 2007 American Business Awards

Nationwide Financial Services, Inc., was recently named a finalist in The 2007 American Business Award's Best Business Turnaround category.

Hailed as "the business world's own Oscars(1)," The American Business Awards, also known as the Stevie Awards, are the only national, all-encompassing awards program honoring great performances in business.

Nationwide Financial Named as Finalist in 2007 American Business Awards
Source: Yahoo! Finance

Permalink posted by armandn @ 11:55 AM

Thursday, May 17, 2007

 

Phoenix Wealth Survey Finds Optimism Returns to High Net Worth With Feelings of Financial Security Back to 7-Year High

America's millionaires have regained their feelings of financial well-being and optimism, but have growing concerns about their future retirement, according to the eighth annual Phoenix Wealth Survey conducted by The Phoenix Companies, Inc., a leading provider of life insurance, annuities and investments.

Phoenix Wealth Survey Finds Optimism Returns to High Net Worth With Feelings of Financial Security Back to 7-Year High
Source: Insurance News Net

Permalink posted by armandn @ 7:03 AM
 

Merger: AIG Buying Remaining 21st Century Shares for $813 Million

American International Group, Inc. and 21st Century Insurance Group reported that AIG will acquire the 21st Century shares it does not currently own at a price of $22.00 per share in cash, for a total purchase price of approximately $813 million.

AIG already owns, through its subsidiaries, approximately 60.8% of the outstanding shares of 21st Century. Upon completion of the transaction, 21st Century will become a wholly owned subsidiary of AIG.

Merger: AIG Buying Remaining 21st Century Shares for $813 Million
Source: Insurance Journal

Permalink posted by armandn @ 7:01 AM
 

Jackson National Life Recognized as World Class Customer Service Provider by SQM

The Service Quality Measurement Group Inc. (SQM) has recognized Jackson National Life Insurance Company(R) (Jackson) as a World Class service provider in its latest benchmarking study of North American contact centers. This is the third time in the last four years that Jackson has achieved World Class status - the company earned its first service award from SQM in 2004. Historically, only 5% of contact centers receive the World Class designation.

Jackson National Life Recognized as World Class Customer Service Provider by SQM
Source: Digital 5.0

Permalink posted by armandn @ 7:00 AM
 

The Hartford CEO Sees Opportunities

The Hartford Financial Services Group sees opportunities to grow its businesses - including commercial property-casualty insurance - despite increasing price competition in that market, Chief Executive Ramani Ayer told shareholders Wednesday.

The Hartford CEO Sees Opportunities
Source: Hartford Courant

Permalink posted by armandn @ 6:58 AM

Wednesday, May 16, 2007

 

Baby Boomers Stay Loyal to Insurance Brand, Study Reveals

Baby Boomers may be more likely to switch brands across a wide variety of products and services, including apparel, cars, prepared foods, and airlines, but when it comes to service oriented categories such as banking and insurance companies, Boomers stay loyal, according to a new study.

Baby Boomers Stay Loyal to Insurance Brand, Study Reveals
Source: Life Insurance Selling

Permalink posted by armandn @ 7:53 AM
 

The Multi-Cultural Buzz is On - Do You Hear It?

The multicultural market offers tremendous opportunities for independent marketing organizations (IMOs) and brokerage general agencies (BGAs) to grow their businesses. The rise in this country’s Hispanic and Asian populations, the increasing level of affluence and education that both groups are experiencing, as well as their openness to new and different mainstream products, have created an unprecedented demand within the insurance industry.

The Multi-Cultural Buzz is On - Do You Hear It?
Source: Life Insurance Selling

Permalink posted by armandn @ 7:52 AM
 

Travelers Launches New Unit

The Travelers Cos. said Tuesday that it has launched a new business unit in Atlanta to insure corporate and business aircraft, small to mid-size airports, aviation ground services and manufactured non-critical products used as aircraft components.

Travelers Launches New Unit
Source: Hartford Courant

Permalink posted by armandn @ 7:51 AM
 

The Clock is Ticking on Yet Another HIPAA Provision

Another HIPAA (Health Insurance Portability & Accountability Act) deadline is set to expire this month. On May 23, 2007, all health care providers who use HIPAA standard electronic transactions must have a National Provider Identifier (NPI). The purpose of the NPI is to standardize the electronic transmission of health information and improve the efficiency of a system once riddled with costly errors and chaos.

The Clock is Ticking on Yet Another HIPAA Provision
Source: Insurance News Net

Permalink posted by armandn @ 7:45 AM

Tuesday, May 15, 2007

 

Jefferson National Expands Industry's Largest Tax-Deferred Platform by Adding Institutional Class Funds to Monument Advisor Variable Annuity

Jefferson National’s Monument Advisor, the first and only variable annuity with a flat-insurance fee, has now added institutional class funds to its supermarket of more than 170 tax-deferred funds—the industry’s largest, with four times more funds than the typical VA1. With the addition of these ultra-low cost funds, Monument Advisor is now uniquely positioned to better serve the growing market of fee-based and fee-only advisors, a segment which has increased more than 41% in four years to reach $2.2 trillion in assets under management as of 2006.

Jefferson National Expands Industry's Largest Tax-Deferred Platform by Adding Institutional Class Funds to Monument Advisor Variable Annuity
Source: Business Wire

Permalink posted by armandn @ 8:29 AM
 

John Hancock Expands Lifestyle Portfolios

John Hancock announced that it has added three new strategies to its popular target-risk Lifestyle portfolios, effective May 1. The John Hancock Lifestyle Portfolios are a series of five asset allocation fund of funds that provide investors with a choice of varying degrees of investment risk, from aggressive to conservative.

John Hancock Expands Lifestyle Portfolios
Source: Yahoo! Finance

Permalink posted by armandn @ 8:28 AM
 

VA Guarantees and Withdrawal Options: Your Inside Track to Suitability and Sales

Variable annuities (VAs) are better than ever before, with built-in guarantees for both living and death benefits that we couldn’t imagine a few years ago. To help you sell more VAs, I’ll discuss how to introduce the subject of variable annuities with two key questions. I’ll also cover some aspects of the VA products’ death and living benefits that you should know well in order to serve your clients better.

VA Guarantees and Withdrawal Options: Your Inside Track to Suitability and Sales
Source: Life Insurance Selling

Permalink posted by armandn @ 8:26 AM
 

I.I.I. Offers Tips for Picking a Financial Planner

Whether you are buying a house, planning for college or laying the groundwork for retirement, the choice of a financial planner can be the first step on the road to achieving your financial goals, according to the Insurance Information Institute (I.I.I.).

I.I.I. Offers Tips for Picking a Financial Planner
Source: Insurance News Net

Permalink posted by armandn @ 8:25 AM

Monday, May 14, 2007

 

Allianz Lawsuit Given Class-Action Status

National class-action status has been granted to a Minnesota lawsuit accusing Allianz Life Insurance of North America of deceptive practices.

Allianz, based in the Minneapolis suburb of Golden Valley, said Friday it plans to appeal the ruling, which did not address the validity of the allegations that it used deceptive sales and marketing tactics to sell annuities to senior citizens.

Allianz Lawsuit Given Class-Action Status
Source: Insurance News Net

Permalink posted by armandn @ 9:59 AM
 

IUL Policy from RBC Insurance Features Guarantees, Interest Crediting Linked to S&P 500

Designed for clients with a low to moderate risk tolerance, a new index universal life insurance policy from RBC Insurance provides the opportunity for strong cash value accumulation without sacrificing safety or compromising essential life insurance protection.

IUL Policy from RBC Insurance Features Guarantees, Interest Crediting Linked to S&P 500
Source: EARTHtimes.org

Permalink posted by armandn @ 9:56 AM
 

Indexed Universal Life Can Help With College Funds

In our many years of experience, we have never ceased to be amazed that we can expand our marketplace and bring great concepts to the public.

The relatively recent emergence of indexed universal life (IUL) insurance policies has led us to put together strategies that have the potential to solve many families’ needs.

Indexed Universal Life Can Help With College Funds
Source: Life Insurance Selling

Permalink posted by armandn @ 9:54 AM
 

MassMutual Launches Extended Support of Breast Cancer Awareness

Expanding its commitment to the cause of breast cancer awareness, Massachusetts Mutual Life Insurance Company (MassMutual) has kicked off an extended effort to educate women, support local cancer-related programs, and make substantial donations to cancer research, prevention and treatment organizations throughout the country.

MassMutual Launches Extended Support of Breast Cancer Awareness
Source: PR Newswire

Permalink posted by armandn @ 9:52 AM

Friday, May 11, 2007

 

Towers Perrin Survey Indicates Increased Life Insurance Merger and Acquisition Activity in Next 12 Months

CFOs at major life insurance companies believe mergers and acquisitions within their industry will significantly increase over the next 12 months.

According to the latest CFO survey from the Tillinghast business of Towers Perrin, 57 percent of the respondents said it is possible or highly likely they will acquire another company in the next 12 months. Seventy-seven percent said it is possible or highly likely they will acquire a block of business from another company.

Towers Perrin Survey Indicates Increased Life Insurance Merger and Acquisition Activity in Next 12 Months
Source: Business Wire

Permalink posted by armandn @ 10:46 AM
 

Bank-Owned Life Insurance Assets Reached $103.9 Billion in 2006

Bank-owned life insurance assets surged to $103.9 billion in 2006, up 48.6% from $69.9 billion in 2005, according to a report from Michael White Associates and the MullinTBG benefits consulting group.

Bank-Owned Life Insurance Assets Reached $103.9 Billion in 2006
Source: A.M. Best (subscription required)

Permalink posted by armandn @ 10:44 AM
 

Lincoln Employer Market Launches i4Lifer Advantage on Defined Contribution Plans

Lincoln Employer Markets today announced that the Lincoln National Life Insurance Company now offers the i4LIFE(R) Advantage rider as an additional distribution option for employer-sponsored defined contribution plans. The i4LIFE(R) Advantage allows participants the ability to convert their retirement plan savings into lifetime income with an opportunity for growth. The i4LIFE(R) Advantage also offers the protection of a minimum payment guarantee while maintaining access to and control of assets.

Lincoln Employer Market Launches i4Lifer Advantage on Defined Contribution Plans
Source: Earth Times

Permalink posted by armandn @ 10:40 AM
 

The Next Market Frontier: Multi-Life Long Term Care Insurance and Disability Insurance

The Health Insurance Portability and Accountability Act of 1996 (HIPAA), the Taxpayer Relief Act of 1997 and the Deficit Reduction Act of 2005 are all contributing to the explosive potential of the LTC insurance market. These legislations provide about 78 million retiring baby boomers the incentives to purchase private LTC coverage instead of depending on Medicaid.

Experts say the multi-life LTC insurance market will continue to grow from the current seven million to 14 million in five years.

The Next Market Frontier: Multi-Life Long Term Care Insurance and Disability Insurance
Source: Insurance News Net

Permalink posted by armandn @ 10:34 AM

Thursday, May 10, 2007

 

Getting an Angle on Annuities

Retirement planning is a very popular issue in the financial press--and sellers of financial products, particularly annuities, are nearly in frenzy as the first baby boomers enter their golden years. A recent e-mail solicitation captures this mood:

"Join the annuity machine and profit from the massive baby boomer rollover market."

Getting an Angle on Annuities
Source: Forbes.com

Permalink posted by armandn @ 12:39 PM
 

Sun Life Financial Launches New IRA Review Program To Meet Demand for Generational Wealth Strategies

The U.S. Division of Sun Life Financial today launched an innovative new marketing program - Creating Generational Wealth - targeted to the booming retirement and wealth transfer markets. This IRA Review Program provides financial advisors with diverse strategies to help clients evaluate their situation and make appropriate changes to their IRA and/or employer-sponsored qualified plans for retirement and for transferring wealth to the next generation.

Sun Life Financial Launches New IRA Review Program To Meet Demand for Generational Wealth Strategies
Source: Business Wire

Permalink posted by armandn @ 12:37 PM
 

Hybrid Long-Term Care Might Be Right For You

For people worried about the rising cost of health care eating into their savings, a stand-alone insurance policy for long-term care can provide some peace of mind. It can help protect your assets in case you have extended need for assistance, including medical services and personal care.

The downside is that, in most cases, if you are lucky enough never to need coverage, you will not receive anything in return for the premiums you paid. And while premiums are meant to remain level, there is no guarantee that they will.

Hybrid Long-Term Care Might Be Right For You
Source: The Street

Permalink posted by armandn @ 12:35 PM
 

Phoenix Settles NASD Case

The Phoenix Cos. disclosed Wednesday that one of its units has agreed to a censure and $8,000 fine by the National Association of Securities Dealers to settle allegations of violating reporting rules for securities trades.

PXP Securities Corp., part of the Hartford-based Phoenix Cos., didn't admit or deny any NASD findings and agreed to revise its supervisory procedures. The agreement was disclosed in a company regulatory filing Wednesday.

Phoenix Settles NASD Case
Source: Hartford Courant

Permalink posted by armandn @ 12:33 PM

Wednesday, May 09, 2007

 

Immediate Income #1 Need for Retirees, Survey Finds

As the Boomer generation nears retirement, there is a growing sea change from the need to accumulate assets to having sufficient income to live an enjoyable post-working career life. This shift, underscored by a whopping 88% of those polled in a nationwide survey just completed, represents a doubling or tripling of a question posed less than five years ago.

Immediate Income #1 Need for Retirees, Survey Finds
Source: Business Wire

Permalink posted by armandn @ 1:02 PM
 

John Hancock Adds American Funds, Franklin Templeton Options to Variable Annuity Platform

John Hancock Annuities today announced the addition of three new asset allocation options to the John Hancock Trust (JHT), the investment platform available in the company's Variable Annuity products, effective May 1.

John Hancock Adds American Funds, Franklin Templeton Options to Variable Annuity Platform
Source: PR-Inside

Permalink posted by armandn @ 1:01 PM
 

Conseco to Divest Old Block of Fixed and Equity-Indexed Annuities

Conseco, Inc., today announced agreements under which three insurance companies in its Conseco Insurance Group unit will coinsure, with an effective date of Jan. 1, 2007, most of their older inforce equity-indexed annuity and fixed annuity business with Reassure America Life Insurance Company ("REALIC"), a subsidiary of Swiss Re Life & Health America Inc.

Conseco to Divest Old Block of Fixed and Equity-Indexed Annuities
Source: PR Newswire

Permalink posted by armandn @ 12:59 PM
 

Saving Social Security and the Private Pension System

"...As you know, President Bush expended what political capital he had on trying to fix Social Security. I give him credit for being right about two things. First, there is a demographic problem that needs to be addressed. Second, the longer we wait to fix it, the more difficult it will be to fix. I would add that the longer we wait, the less we'll be able to preserve the good features of the current system.

The place where he and many others start going seriously wrong — and I'm sure many of you will disagree — is the idea that the best solution is to transition Social Security to individual accounts. This approach would get us away from the defined-benefit nature of Social Security, which is its strongest feature. Defined benefits help people weather through tough investment times, since, over enough time, investments always come back. Also, except in the most disastrous situations, troughs in the market do not affect the system's ability to make benefit payments. Defined-benefit arrangements also protect participants from outliving their money..."

Retirement Industry Conference: Presentation on Saving Social Security and the Private Pension System

Permalink posted by markw @ 7:16 AM

Tuesday, May 08, 2007

 

Financial Anxiety is Prevalent Among Americans, Even Affluents

Whether or not money buys happiness is widely debated, but whether or not money buys financial peace of mind would seem to be a more straightforward matter. Not so according to Gallup's annual Personal Finance poll, updated Apr. 2-5, 2007, in which Americans were asked to rate the amount of concern they have about each of several financial problems. To be sure, people's degree of financial anxiety is directly related to their household income. However, an index of seven of the financial items updated this year shows that almost two-thirds of those who are in Gallup's top-income category still worry about at least one of the issues examined in the poll.

Financial Anxiety is Prevalent Among Americans, Even Affluents
Source: The Gallup Poll

Permalink posted by armandn @ 7:56 AM
 

Liberty Mutual to Acquire Ohio Casualty

Liberty Mutual Group in Boston today announced that it will acquire all outstanding shares of common stock of Ohio Casualty Corp. of Fairfield, Ohio for $2.7 billion in cash, or $44 per share.

Liberty Mutual to Acquire Ohio Casualty
Source: Investment News

Permalink posted by armandn @ 7:55 AM
 

Social Security Will Be Solvent Until 2041

The 2007 report of the Social Security trustees projects that the system as it now stands will be solvent until the year 2041. From then on, the program will have to dip into reserves and by the year 2081, or 75 years from now, the system will be able to pay only about 70 percent of the benefits unless some changes are made. The annual report always makes 10- and 75-year projections.

Social Security Will Be Solvent Until 2041
Source: Hernando Today

Permalink posted by armandn @ 7:54 AM
 

Prudential Retirement Exclusive Sponsor of "This I Believe" Series

Prudential Retirement, a business of Prudential Financial, announced today that it has become the exclusive sponsor of the NPR series "This I Believe." The one-year sponsorship agreement began with the May 1, 2007 broadcast.

"This I Believe," an iconic national media project that explores America's core beliefs and values through the voices of newsmakers and everyday Americans made its debut in 2005. It is a contemporary version of the popular 1950s radio series of the same name, hosted by renowned journalist Edward R. Murrow.

Prudential Retirement Exclusive Sponsor of "This I Believe" Series
Source: Yahoo! Finance

Permalink posted by armandn @ 7:52 AM

Monday, May 07, 2007

 

Don't Have Enough to Retire? Start Saving.

Many baby boomers approaching retirement age don't really have enough money to do so, at least not in the manner they'd like. If that's your situation, financial planners say there's nothing that will magically make the problem disappear, but there are probably steps you can take - and some you should avoid - to begin closing the financial gap.

Don't Have Enough to Retire?  Start Saving.
Source: Cincinnati Enquirer

Permalink posted by armandn @ 7:08 AM
 

How to Market Fixed Annuities as Solutions Instead of Products

The key to successful selling in the good old days was simply knowing the products and the customers. To beat competitors, the sales representative would present the product or service in the best possible way and build a relationship with the prospect as a result – it was driven by product.

How to Market Fixed Annuities as Solutions Instead of Products
Source: Insurance News Net

Permalink posted by armandn @ 7:06 AM
 

Life Insurance Policy Sales Fuzzy

If some sharpie can pitch taking out high-priced payday loans, it's not shocking that a fast talker will tell seniors that they can turn life insurance policies into cash - without dying.

And regulators are concerned that some seniors are not getting a fair price, a fair deal or a clear picture of the implications of what's called a life settlement or senior settlement.

Life Insurance Policy Sales Fuzzy
Source: Myrtle Beach Online

Permalink posted by armandn @ 7:04 AM
 

Indexed Annuity Offers 15% Bonus

Allianz Life Insurance Company of North has introduced the Allianz Endurance 15 Annuity contract.

The contract provides a 15% bonus on premiums paid during the first 3 years of the contract, according to Allianz Life, Minneapolis, a unit of Allianz S.E., Munich.

Indexed Annuity Offers 15% Bonus
Source: National Underwriter (subscription required)

Permalink posted by armandn @ 7:01 AM

Friday, May 04, 2007

 

IRS Looks at Use of Check to Move Annuity Funds

The Internal Revenue Service has come out with a holding that could affect efforts to shift assets from one annuity to another without triggering income tax problems.

IRS Looks at Use of Check to Move Annuity Funds
Source: National Underwriter (subscription required)

Permalink posted by armandn @ 7:42 AM
 

Operating Profit at Phoenix Beats Expectations

The Phoenix Cos. swung from an operating loss to an operating profit in the first quarter and beat Wall Street expectations as the insurance and asset management company continued a tough turnaround.

Operating Profit at Phoenix Beats Expectations
Source: Hartford Courant

Permalink posted by armandn @ 7:38 AM
 

New Cash Benefit Account Insurance Pays for Long Term Care

A new approach for personal funding of long term care will eliminate the needless complexity of a typical long term care insurance policy and will instead pay a 100% guaranteed cash benefit, regardless of the cost of services or the type of services used.

New Cash Benefit Account Insurance Pays for Long Term Care
Source: PR Newswire

Permalink posted by armandn @ 7:35 AM
 

New Improved Universal Life Insurance Outperforms Term and Whole Life with Estimated $13.4 Billion Policies Sold

You might have heard that universal life (UL) insurance products’ total annualized new life insurance premiums reached about $13.4 billion for 2006 – a 40% share of the overall life insurance market. It was the first time it outsold both term life insurance with a 23% market share and whole life insurance with 22%.

New Improved Universal Life Insurance Outperforms Term and Whole Life with Estimated $13.4 Billion Policies Sold
Source: Insurance News Net

Permalink posted by armandn @ 7:22 AM

Thursday, May 03, 2007

 

J.G. Wentworth Analysis: What Do You Need to Know About Death, Taxes, and Annuities?

Never die with an annuity. That's a rule of thumb followed by most financial advisors when speaking with their clients about estate planning -- but not one that most annuity holders know when they first approach estate planning. For example, did you know that the inclusion of an annuity in the estate-tax calculation can result in double-taxation -- estate and income -- subject to a partial offset for the estate taxes?

J.G. Wentworth Analysis: What Do You Need to Know About Death, Taxes, and Annuities?
Source: PrimeNewswire

Permalink posted by armandn @ 7:28 AM
 

A.G. Edwards Settles Mutual-Fund Timing Case

A.G. Edwards Inc. Wednesday agreed to pay $3.86 million to settle regulatory allegations that it failed to censure brokers who used "deceptive means" to place improper market-timing trades in mutual funds.

A.G. Edwards Settles Mutual-Fund Timing Case
Source: CBS Marketwatch

Permalink posted by armandn @ 7:26 AM
 

SunLife Financial Goes Live with Advisor-Personalized Microsites and Streaming Media

SunLife Financial unleashed the next wave of compliant agent marketing and consumer education. To support its agents’ ability to present a compliant and balanced explanation of its new income-oriented indexed annuity, SunDex Advantage, the company has offered thousands of distributors unique personalized microsites that serve as virtual agent assistants. The microsites, which carry all required broker-dealer and, or carrier disclosure language, stream engaging and educational multimedia presentations to prospects’ web browsers.

SunLife Financial Goes Live with Advisor-Personalized Microsites and Streaming Media
Source: David Macchia Blog

Permalink posted by armandn @ 7:25 AM
 

Immediate Annuities Offer Income for Life, But There Are Risks

An immediate annuity is basically an insurance product that converts a lump sum (the premium you pay) into an income for life (payments you receive, such as every month, until you die). It works as a "private pension" and is in essence insurance against living too long and running out of money.

Immediate Annuities Offer Income for Life, But There Are Risks
Source: Zwire.com (TriValleyCentral)

Permalink posted by armandn @ 7:23 AM

Wednesday, May 02, 2007

 

John Hancock Annuities Introduces New, Optional Lifetime Withdrawal Benefit

John Hancock Annuities today announced the introduction of its new Income Plus For Life optional withdrawal benefit rider. Investors who elect the new rider, offered on John Hancock's Venture Variable Annuity contracts, are guaranteed lifetime income that can begin as early as age 59 1/2. The initial annual income is 5% of their initial purchase payment. This amount can increase for investors who wait at least one year to take withdrawals, and is guaranteed to double for clients who wait the later of at least 10 years or age 70.

John Hancock Annuities Introduces New, Optional Lifetime Withdrawal Benefit
Source: Yahoo! Finance

Permalink posted by armandn @ 6:54 AM
 

Protective Introduces SecurePay Living Benefit

Protective Life Insurance Company today announced the release of SecurePaySM, an innovative new living benefit available with Protective’s wide array of variable annuities. SecurePay will be available on all contracts written on or after May 1, 2007, subject to state availability.

Protective Introduces SecurePay Living Benefit
Source: BusinessWire

Permalink posted by armandn @ 6:53 AM
 

The Flexible of Universal Life and Variable Universal Life Meets the Needs of Today's Consumer

Recently, universal life (UL) and variable universal life (VUL) have gained in popularity. Flexibility has made these two products increasingly popular for a generation of consumers seeking greater control over the protection and growth of their income.

The Flexible of Universal Life and Variable Universal Life Meets the Needs of Today's Consumer
Source: Insurance News Net

Permalink posted by armandn @ 6:52 AM
 

New "AIG Select-A-Term" Product Allows Policyholders to Customize Term Life Insurance

American General Life Insurance Company (American General Life), a member company of American International Group, Inc. (AIG), today announced AIG Select-a-TermSM, a new term life insurance policy that allows policyholders the choice to customize the term limits.

New "AIG Select-A-Term" Product Allows Policyholders to Customize Term Life Insurance
Source: MSN Money

Permalink posted by armandn @ 6:44 AM

Tuesday, May 01, 2007

 

Regulatory Action 'Likely,' Insurer Says

The Hartford said Thursday that government action against the company is now 'likely' instead of just 'possible' in investigations of bid-rigging and steering of customers in the insurance industry.

The Hartford Financial Services Group Inc., in a quarterly federal filing, said the unspecified action is likely to be taken by the New York attorney general's office, or one or more other regulatory agencies, against the company or one or more of its employees. A previous filing had said action was 'possible.'

Regulatory Action 'Likely,' Insurer Says
Source: Topix.net

Permalink posted by armandn @ 7:27 AM
 

MassMutual Announces Bundled Plan for $1 to $5 Million Market

MassMutual Retirement Services has introduced MassMutual PlanSmart(SM), its new bundled small plan targeting defined contribution plans with $1 to $5 million in assets. MassMutual PlanSmart is designed to help optimize retirement plan participation and savings behavior with simplified administration on the part of the plan sponsor.

MassMutual Announces Bundled Plan for $1 to $5 Million Market
Source: PR Newswire

Permalink posted by armandn @ 7:25 AM
 

Ability to Select, Customize Underlying Investments Added to Nationwide Financial Variable Annuity Living Benefits

To provide individuals with more allocation choices and greater ability to customize portfolios within their variable annuities, Nationwide Financial Services, Inc., today announced the introduction of Nationwide Custom Portfolio. The flexible portfolio management system, available with Nationwide variable annuity living benefit riders beginning May 1, offers investment professionals and their clients more than 50 underlying investment options, spreading across nine asset classes and seven risk tolerances.

Ability to Select, Customize Underlying Investments Added to Nationwide Financial Variable Annuity Living Benefits
Source: BusinessWire/Google

Permalink posted by armandn @ 7:24 AM
 

Jackson Enhances Living Benefit Options Within its Perspective Family of Variable Annuity

Jackson National Life Insurance Company® (Jackson) today announced the launch of three new guaranteed minimum withdrawal benefits (GMWBs), a new guaranteed minimum accumulation benefit (GMAB), and several new subadvised portfolio options within its Perspective(SM) family of variable annuities.

Jackson Enhances Living Benefit Options Within its Perspective Family of Variable Annuity
Source: Yahoo! Finance

Permalink posted by armandn @ 7:19 AM

This page is powered by Blogger. Isn't yours?