Tuesday, July 31, 2007

 

Jackson National Enhances Universal Life Product Portfolio

Jackson National Life Insurance Company today launched Jackson Accumulator UL, a new universal life insurance product designed to help advisors and their clients focus on generating a policy cash value, and to provide death benefit protection. Jackson Accumulator replaces the company's UL One universal life product, which was introduced in 2000.

Jackson National Enhances Universal Life Product Portfolio
Source: Yahoo! Finance

 

Sun Life Financial Introduces Sun Universal ProtectorPlus: New UL Product with Industry-First Features

The U.S. division of Sun Life Financial is broadening its universal life product portfolio by launching Sun Universal ProtectorPlus, a new flexible premium universal life product featuring affordable death benefit protection plus high cash value accumulation. ProtectorPlus compliments Sun Life’s industry-leading no-lapse guarantee UL by appealing to a wide spectrum of clients seeking value and flexibility in a single product.

Sun Life Financial Introduces Sun Universal ProtectorPlus
Source: Business Wire

 

John Hancock Introduces a Guaranteed Increase Option to Leading Edge Long Term Care Insurance Policy

John Hancock Life Insurance Company has introduced a new guaranteed increase option (GIO) to its Leading Edge long term care insurance policy. This innovative option provides clients who have automatic inflation coverage the opportunity every three years to increase their current policy benefit amount by 10 percent without underwriting. The option remains available, regardless of how many times a client declines the offer.

John Hancock Introduces a Guaranteed Increase Option to Leading Edge Long Term Care Insurance Policy
Source: PR Newswire

 

Allianz to Host Free 'Multicultural University' for Insurance Professionals

Allianz Life Insurance Company of North America (Allianz) has taken the lead to help insurance professionals develop stronger relationships within various multicultural markets by hosting a free "Multicultural University" in Las Vegas at the MGM Grand and Casino, from September 16 to 18, 2007.

Allianz to Host Free 'Multicultural University' for Insurance Professionals
Source: PR Newswire

Monday, July 30, 2007

 

Will Annuity-LTC Combo Products Attract More Boomers?

What would it take to make people realize they need protection in the event they require long-term care in the future? Another horror story about a family devastated financially and emotionally by the cost of long-term care? The latest statistics proving that long-term care could happen to anyone at anytime? The soaring price of long-term care services?

Will Annuity-LTC Combo Products Attract More Boomers?
Source: Insurance News Net

 

How To Spot Retirement Hogwash

Some call it hogwash. Others call it B.S. No matter what it's called, those on the verge or already in retirement need to be on the lookout for it. Older Americans must have their "detector" up when it comes to the products and services being hawked by those in the so-called retirement industry.

According to John E. Nelson, the co-author of "What Color is Your Parachute? for Retirement: Planning Now for the Life You Want," older Americans must be able to tell the difference between the products and services they really need and want vs. those that firms -- especially in the investment, insurance, real estate, travel, retail and anti-aging industries -- want them to be buy.

How to Spot Retirement Hogwash
Source: CBS Marketwatch

 

Many Banks Seeing Insurance Income Fees from "Wallet Share" Insurance Products

Bank holding companies are putting more pressure on their non-bank lines of business as the interest rate environment continues to hurt profits.

And nothing has been in the cross-hairs of bank executives more than the insurance operations which holding companies, particularly the national and regional players, have steadily grown for a decade.

"The larger banks recognize that they need to smooth out the peaks and valleys of net interest margins," says Michael D. White, president of Michael White Associates, a bank insurance and economic analysis firm based in Radnor, Pa.

Many Banks Seeing Insurance Income Fees from Wallet Share Insurance Products
Source: Biz Journals

 

New Firm Offers Gateway to Rapidly Evolving Life Insurance Investment Sector

4Pluris originates structured financial products for institutional investors seeking to benefit from the attractive short- and long-term investment returns available to risk-oriented capital in the life insurance marketplace. 4Pluris is also active in assisting insurance professionals and financial advisors, and their clients, in taking advantage of the myriad of wealth creation and wealth preservation opportunities in the rapidly evolving life insurance sector.

New Firm Offers Gateway to Rapidly Evolving Life Insurance Investment Sector
Source: PR Newswire

Thursday, July 26, 2007

 

The Penn Mutual Life Insurance Company Introduces Accumulation Builder Indexed Universal Life Insurance

To meet the growing demand for life insurance products that offer the potential for additional cash value accumulation without the risks of variable universal life insurance, The Penn Mutual Life Insurance Company and its wholly owned subsidiary, The Penn Insurance & Annuity Company, have added Accumulation Builder Indexed Universal Life (IUL) to their competitive line of life insurance and annuity products.

The Penn Mutual Life Insurance Company Introduces Accumulation Builder Indexed Universal Life Insurance
Source: Business Wire

 

The Ten Highest Yielding Life Insurance Companies

There has been a lot of negative news affecting the banks, mortgage companies and, to a lesser extent, investment brokerage firms, such as the sub-prime debacle, increasing foreclosures, rising interest rates, and a glut of real estate inventory.

However, in the financial services industry, there has been a group that is somewhat overlooked, the life insurance companies. There will obviously be some exposure to the sub-prime problems, but not to the extent of the banks and mortgage companies. Fortunately, there are about ten life insurance companies that pay dividends of more than 1%.

The Ten Highest Yielding Life Insurance Companies
Source: Yahoo! Finance

 

The Role of Women As Financial Professionals and Affluent Consumers to be Featured at the American College's 2007 Knowledge Summit

“Financial and insurance professionals should make it a point to attend this year’s event,” said Larry Barton, Ph.D., President and Chief Executive Officer of The American College. “Knowledge Summit attendees will hear from some of the most informed and successful experts in the financial services industry. Each educational seminar successfully combines high-impact scholarship with insights derived from practical experience in order to provide professionals with knowledge that can enhance both their individual and organizational performance.”

The Role of Women As Financial Professionals and Affluent Consumers to be Featured at the American College's 2007 Knowledge Summit
Source: Insurance News Net

Wednesday, July 25, 2007

 

Lincoln Financial Group Named a Best Practice Partner by APQC for Recruiting, Selecting, and Retaining Talent in a Competitive Market

Lincoln Financial Group has been selected by the American Productivity & Quality Center (APQC), an internationally recognized resource for process and performance improvement, as one of only six best practice partners for an in-depth study on recruiting, selecting, and retaining talent in a competitive market. The study will conclude in summer 2007 with the publication of a research report based on the findings of the study.

Lincoln Financial Group Named a Best Practice Partner by APQC for Recruiting, Selecting, and Retaining Talent in a Competitive Market
Source: PR Newswire

 

AXA Equitable Introduces ROP Term Product

A life insurer is expanding its line of protection products.

AXA Equitable Life Insurance Company, New York, a unit of AXA S.A., Paris, has introduced the Return of Premium Term life insurance policy.

AXA Equitable Introduces ROP Term Product
Source: National Underwriter (subscription required)

Tuesday, July 24, 2007

 

John Hancock Launches Two Survivorship Variable Universal Life Products

John Hancock has launched two new highly competitive survivorship variable universal life products, Accumulation Survivorship VUL and Protection Survivorship VUL. Both products build upon their industry-leading single life predecessors- Accumulation VUL and Protection VUL -- and are strategically positioned to allow John Hancock's variable life insurance portfolio to even more precisely meet client needs.

John Hancock Launches Two Survivorship Variable Universal Life Products
Source: PR Newswire

 

Sun Life Financial Introduces SunDex Bonus

The U.S. division of Sun Life Financial today announced the launch of the SunDex Bonus Fixed Index Annuity. Designed to meet the needs of Baby Boomers who need to boost their savings and plan for flexible retirement income, the SunDex Bonus product offers a bonus of either 6% or 7%, depending on the amount of the premium, which is added to the account value immediately and is fully vested after five years. The SunDex Bonus product also offers the patent-pending InControl Lifetime Benefit, which allows boomers to defer part or all of the annual withdrawals permitted under the benefit and “store” those withdrawals in the contract for future use.

Sun Life Financial Introduces SunDex Bonus: Fixed Annuity Features up to 7% Bonus, Storage Benefit for Flexible Income
Source: Business Wire

 

ING Launches Fixed Annuity With 'Re-Up' Feature for Retirement Plan Participants

ING , a global financial services leader, is now offering ING Renuity, an innovative fixed annuity that offers a guaranteed interest rate for a three- or five-year period with the ability to lock in higher rates if offered in the future. The product aims to provide individuals rolling over retirement plan funds a competitive fixed-income product with upside potential. The product, issued by ING Life Insurance and Annuity Company and distributed through ING Financial Advisers, Inc., is also available as a non-qualified contract.

ING Launches Fixed Annuity With 'Re-Up' Feature for Retirement Plan Participants
Source: CNN/Money

 

Pacific Life Helps Investors Measure Retirement Risk

Pacific Life Insurance Company has launched a new online calculator as part of its Destination IndependenceSM campaign to educate investors about issues they face in retirement. Offered exclusively by Pacific Life, the Retirement RisQuotient™ Calculator gauges the likelihood an investor will have adequate resources to meet retirement expenses. Developed with Moshe A. Milevsky, Ph.D., Associate Professor of Finance, York University, Toronto, Canada and President of QWeMA Group, the calculator is the first of its kind to consider an investor’s longevity, expectations for inflation and investment risk at the time of retirement to estimate the probability that their income plan is sustainable for the rest of their life. In a recent article, Dr. Milevsky writes, "One of the achievements I'm most proud of is a one-line formula that I developed and then published a few years ago with some colleagues of mine at York University.”

Pacific Life Helps Investors Measure Retirement Risk
Source: Business Wire

Monday, July 23, 2007

 

Senate Eyes Insurance Sales to Seniors

A Senate committee on Thursday opened an investigation into insurers that train sales agents to approach older consumers with impressive-sounding credentials and controversial sales tactics, according to published reports.

Senate Eyes Insurance Sales to Seniors
Source: Investment News (subscription required)

 

Profiting from Mortality

Death bond is shorthand for a gentler term the industry prefers: life settlement-backed security. Whatever the name, it's as macabre an investing concept as Wall Street has ever cooked up. Some 90 million Americans own life insurance, but many of them find the premiums too expensive; others would simply prefer to cash in early. "Life settlements" are arrangements that offer people the chance to sell their policies to investors, who keep paying the premiums until the sellers die and then collect the payout. For the investors it's a ghoulish actuarial gamble: The quicker the death, the more profit is reaped. Most of the transactions are done by small local firms called life settlement providers, which in the past have typically sold the policies to hedge funds.

Profiting from Mortality
Source: Business Wire

 

Leveraging Portal Technology, Hartford Rolls Out Real-Time Capabilities

A new, automated system introduced by The Hartford Financial Services Group Inc. significantly hastens the creation and modification of personal lines insurance policies.

Dubbed the Personal Lines Policy Changes Center, it enables agents and customer service representatives to manage auto policy changes in real-time. It will also enable agents to quote different scenarios and to determine how changes, such as adding a vehicle, impact premiums. More than 90% of the auto policy changes made through the Policy Change Center can be completed within minutes, the company says.

Leveraging Portal Technology, Hartford Rolls Out Real-Time Capabilities
Source: Insurance Networking News

 

Life Insurance Companies Ranked on How They Treat Online Customers in Customer Respect Group Study

The Customer Respect Group, an international research and consulting firm that focuses on how corporations treat their online customers, today released findings from its Third Quarter 2007 Online Customer Respect Study of the Life Insurance Industry.

Life Insurance Companies Ranked on How They Treat Online Customers in Customer Respect Group Study
Source: Business Wire

Thursday, July 19, 2007

 

Term Life Insurance With No Exam

Everyone wants a painless and easy approach when it comes to purchasing life insurance. That can actually be a reality if you know what to look for when shopping for life insurance. The painless part has every thing to do with the cost. Term life insurance is by far the least expensive of all forms of life insurance. Easy has everything to do with making a life insurance purchase that is simple and time saving.

Term Life Insurance With No Exam
Source: Best Syndication

 

Bank Annuity Sales Decline in April. Fixed Annuity Sales Flat, VA Sales Drop 5%

In April, total bank annuity sales fell 3 percent compared to the prior month. According to the Kehrer-JacksonSM Monthly Bank Annuity Sales Survey, financial institutions sold $3.5 billion of fixed and variable annuities in April, down from $3.6 billion in March, but higher than the $2.9 billion sold in January and February. The monthly survey is based on a national sample of banks that each have a minimum of $4 billion in assets.

Bank Annuity Sales Decline in April. Fixed Annuity Sales Flat, VA Sales Drop 5%
Source: Insurance News Net

 

Fixed Annuities Make Sense for Investors of All Ages

Whether young or old, knowing that you can have ready access to cash in your fixed annuity contract makes the product appealing. And, as an agent, that appeal is something you can use to market these high-value products to all ages.

Fixed Annuities Make Sense for Investors of All Ages
Source: Insurance News Net

Wednesday, July 18, 2007

 

John Hancock Introduces New Level Premium Term Life Insurance Portfolio

John Hancock Life Insurance Company, one of the industry leaders in the sales of permanent life insurance products, is launching a new version of its term life insurance product portfolio. John Hancock has revamped its entire level-premium term life insurance portfolio (10-, 15-, 20- or 30-year terms), reducing premiums at many non- smoker issue ages and face amounts. The company also reduced premiums in its historic niche market of $3 million-plus face amounts (issue ages 45-65).

John Hancock Introduces New Level Premium Term Life Insurance Portfolio
Source: PR Newswire

 

New Nationwide 'YourLife' Term Insurance Unveiled

One reason why many Americans say they don’t have life insurance – or are underinsured – is the cost. To help consumers make easier, affordable choices, Nationwide Financial Services, Inc., today launched the first in a series of new Nationwide YourLifeSM insurance products.

“Protecting our families is something many Americans think about every day,” said Peter Golato, senior vice president for Nationwide Financial. “But, sadly, we know many consumers either don’t have life insurance or may be underinsured for many reasons. Cost is cited as a major reason, and fear of the unknown is often another. Our new term life insurance product is designed to be easy to understand, affordable and allow consumers to make simpler choices to protect their most valuable asset, their families.

New Nationwide 'YourLife' Term Insurance Unveiled
Source: Business Wire

 

Survey of Retirement-Minded Americans Underscores Value of "Living Benefit" Guarantees in $1.4 Trillion Variable Annuity Market

NAVA, the Association for Insured Retirement Solutions, commissioned Mathew Greenwald & Associates, Inc., a leading financial service research organization, to gauge American attitudes regarding the perception of investment risk and the willingness to insure against that risk when planning for or living in retirement. "The NAVA Survey on Investment Risk and Guarantees" found that a majority of Americans' fears of investment risk is undermining their confidence to invest in the stock market, which could ultimately leave them short of the savings needed to fund their desired retirement lifestyles.

Survey of Retirement-Minded Americans Underscores Value of "Living Benefit" Guarantees in $1.4 Trillion Variable Annuity Market
Source: Insurance News Net

 

Life Insurance Settlements Help Seniors Get Much Needed Cash Out of Unneeded Policies

NewRetirement.com, an education and advocacy website for retirement planning, launched a new series of articles introducing life insurance settlements. Life insurance settlements allow seniors to sell unwanted life insurance policies for cash. Retirees can capture more value by using the life settlement than they would by simply turning their policy over to their insurance provider for its stated cash surrender value -- often three to five times the cash value. In fact, most often either the insured lets the life insurance policies lapse or the beneficiaries simply never collect the benefits.

Life Insurance Settlements Help Seniors Get Much Needed Cash Out of Unneeded Policies
Source: PR Web

Tuesday, July 17, 2007

 

AIG Financial Advisors to Swallow American General

In a surprising turn of events, broker-dealer network AIG Advisor Group has announced that AIG Financial Advisors, the second-largest of the network's broker-dealers, will absorb sibling broker-dealer AIG American General Securities in the middle of next year. The network, owned by the world's largest insurer American International Group, did not disclose the eventual fate of American General's president and CEO Andrew Kalbaugh and the rest of his management team.

AIG Financial Advisors to Swallow American General
Source: Financial-Planning

 

The Hartford Introduces New Technology to Help Agents Service their Client's Personal Insurance Policies

The Hartford Financial Services Group, Inc., a company that is committed to developing technology solutions for its network of independent agents, has launched a new, automated system that will make it faster and easier for agents to service and modify their clients’ personal lines insurance policies from The Hartford.

The Hartford’s Personal Lines Policy Change Center will enable agents and their customer service representatives (CSR’s) to manage auto policy changes in real-time, providing information when they need it -- immediately. The application will also support homeowner policy endorsements, although real-time capabilities are available only for auto policies at present.

The Hartford Introduces New Technology to Help Agents Service their Client's Personal Insurance Policies
Source: Business Wire

 

Retirement or College? America has Split Priorities

Americans are split when it comes to choosing between saving for their children's college education and their own retirement. According to a new survey by COUNTRY Insurance & Financial Services, 43 percent believe saving for college is more important, while another 43 percent say retirement takes precedence.

Retirement or College?  America has Split Priorities
Source: PR Newswire

Monday, July 16, 2007

 

Manulife Bolsters E-Distribution Efforts

Manulife Financial reports that it is launching the Canadian insurance industry's first new business notification feed that meets new national standards for delivery of information to agencies and their advisors dealing with the company.

The feed, once processed, allows agencies and their advisors to view the underwriting status of policies on a daily basis, greatly reducing time spent on inquiries and follow up calls about their clients' applications. The process is the first to meet new guidelines outlined by the Canadian Life Insurance Electronic Data Interchange Standards (CLIEDIS).

Manulife Bolsters E-Distribution Efforts
Source: Insurance Networking News

 

Saving for Retirement: Concerned and Unprepared

The number one financial concern among Americans is retirement, but nearly two-thirds in a recent poll believe that they are not saving enough for retirement.

"The most stunning statistic is that over a third of Americans don't think they will be able to retire ever," says Chris Moloney, chief marketing officer at Scottrade Inc.

Saving for Retirement: Concerned and Unprepared
Source: Insurance News Net

 

Rich Often Neglect Personal-Lines Insurance, Experts Say

The rich are different, and so are their insurance needs, but many wealthy people may be leaving themselves unprotected, according to personal-lines- property-casualty- insurance specialists.

Rich Often Neglect Personal-Lines Insurance, Experts Say
Source: Investment News (subscription required)

Friday, July 13, 2007

 

Variable Annuities: The Perfect Fit for Baby Boomer Needs

Three in five companies in the country say the majority of their employees are not financially prepared for retirement. According to Aon’s 2007 Benefits and Talent Survey of more than 2,000 firms, 62% of these organizations anticipate that more than half of their employees will not have retirement income when they leave the workforce between the ages of 62 and 65.

Read Full Article
Source: Insurance News Net

 

Phoenix Introduces Concierge Service to Speed Life Insurance Underwriting

The Phoenix Companies, Inc. today introduced Phoenix Concierge, a high-touch approach to underwriting life insurance that shortens the time from application to policy issuance and improves the overall experience for customers and advisors.

“Phoenix Concierge demonstrates our commitment to going the extra mile for everyone we do business with,” said Edward W. Cassidy, executive vice president, Life Distribution and Operations Transformation, at Phoenix. “This innovation saves time for advisors, pays physicians and agents sooner, and gets clients their policies more quickly.”

Read Full Article
Source: Business Wire

 

Understanding LTC Underwriting Makes All the Difference

Mr. and Mrs. H. are a lovely couple both in their early 60s. They’re charming, intelligent, and articulate. For the past few decades, they’ve been working hard, building a small family business into a very lucrative operation. After devoting their lives to building a legacy they could be proud of, Mr. and Mrs. H. decided that it would be prudent to protect their assets should either of them need long-term care. They decided to seek long-term care insurance (LTCI).

Read Full Article
Source: Life Insurance Selling

 

Annuities, Charities and Death Tax

Q: I thoroughly enjoy, and learn from, your newspaper columns. Please address the subject of income tax at death on deferred annuities and accruals if a named beneficiary is a qualified charitable organization. Thanks, and keep up the good work.

A: Annuities are big business for insurance companies, because there is lots of money to be made. Individual annuity sales reached an all-time high last year of $236.2 billion, up 9 percent over 2005, according to LIMRA International, a worldwide association that provides research to insurance and financial services companies.

Read Full Article
Source: The Herald

Wednesday, July 11, 2007

 

Indexed Universal Life: A Product Whose Time Has Come

Panacea — n. a remedy for all diseases, evils, or difficulties; a cure-all.
Nirvana — n. the beatitude that transcends the cycle of reincarnation; a place of complete bliss, delight, and peace.

These two words denote what may be the Holy Grail of the life insurance business — a product that meets multiple needs and delivers unsurpassed value to its owner. As a vehicle for both insurance protection and wealth accumulation, indexed universal life (IUL) is, in my opinion, the closest our industry has come to developing such a product.

Indexed Universal Life: A Product Whose Time Has Come
Source: Life Insurance Selling

 

Retirement Has Some In A Panic

Most investors feel prepared for retirement, but a significant number are antsy, nervous and worse, according to a survey conducted by the Securities Industry and Financial Markets Association of New York and Washington.

Retirement Has Some In A Panic
Source: Investment News (subscription required)

 

For Annuity Investors, Living Benefits Are A Safety Net

My wife, Georgina, has spent close to $4,000 the past two years for "investment insurance" she didn't need.

But because this insurance gave her the confidence to put more money in stock funds, her investments, even with the insurance cost, are worth $40,000 more than they would have been with her former ultraconservative portfolio.

When I say insurance, I am talking about so-called living benefits offered by many variable annuities.

For Annuity Investors, Living Benefits Are A Safety Net
Source: Sun-Sentinel

 

Auto IRAs Could Jump Start Worker Savings: 48 Million Americans Could Benefit from Auto Enrollment Retirement Programs

As millions of Americans prepare for retirement in five, 10 or 20 years the same questions arise, "How much do I need to save, and how do I do it?" An AARP-commissioned report found that automatic enrollment in employment-based Individual Retirement Account (IRA) programs would be a powerful vehicle to help as many as 48 million workers in this country generate retirement savings.

Auto IRAs Could Jump Start Worker Savings: 48 Million Americans Could Benefit from Auto Enrollment Retirement Programs
Source: Insurance News Net

Tuesday, July 10, 2007

 

Fort Dearborn Life Insurance Company Completes Acquisition of New York-based Northstar Life Insurance Company

Fort Dearborn Life Insurance Company has successfully completed the acquisition of New York-based Northstar Life Insurance Company from Securian Financial Group, Inc. This acquisition enables Fort Dearborn Life to enter the New York marketplace, giving the company the ability to write business in every state. Northstar Life Insurance Company has been renamed Fort Dearborn Life Insurance Company of New York. The company expects to commence New York operations during the fourth quarter of 2007 with plans to write group benefits and individual annuities.

Fort Dearborn Life Insurance Company Completes Acquisition of New York-based Northstar Life Insurance Company
Source: PR Newswire

 

Long-Term Care Insurance: The Essentials Available Free to the Public from MetLife Mature Market Institute

Long-Term Care Insurance: The Essentials® is a revised publication available free to the public from the MetLife Mature Market Institute. The 25-page booklet contains information that will help consumers sift through the details of a product that is important in planning for the future. The guide will assist families in making the right choices regarding the need for planning for long-term care, what long-term care insurance policies cover, what they cost and the eligibility factors involved.

Long-Term Care Insurance: The Essentials Available Free to the Public from MetLife Mature Market Institute
Source: Yahoo! Finance

 

A.M. Best Special Report: Four Key Development Affect GAAP Financial Statements

The special report focuses on GAAP financial trends for 15 U.S.-based publicly traded companies that generate the majority of their earnings from life insurance and annuities and have well established or leading positions in various life and annuity product segments. Four key developments are shaping the GAAP financial statements of most, if not all, of these companies, according to a special report by A.M. Best Co.

A.M. Best Special Report: Four Key Development Affect GAAP Financial Statements
Source: Business Wire

 

Principal Financial Group to Ease Burden of Expected 403(b) Rule Changes

Not-for-profit organizations and public schools, colleges and universities that sponsor 403(b) plans are likely to face increased administrative responsibilities as a result of anticipated regulations to be issued by the Internal Revenue Service (IRS) this summer. The regulations are meant to bring some 403(b) plan rules in line with requirements for 401(k) and public 457(b) plans. The Principal Financial Group®, a total retirement solutions innovator, will be ready to help financial professionals and their clients through what is expected to be a challenging transition. In addition to providing support to help comply with the new requirements, The Principal has hired a renowned 403(b) expert to create an easy-to-understand review of the new regulations.

Principal Financial Group to Ease Burden of Expected 403(b) Rule Changes
Source: Business Wire

Monday, July 09, 2007

 

Allianz Life Announces Customer Focus Enhancements

Allianz Life Insurance Company of North America (Allianz Life) today announced customer focus enhancements that detail key commitments to current and prospective policyholders and introduced a number of significant additions to the company's industry leading business practices and procedures.

Allianz Life Announces Customer Focus Enhancements
Source: PR Newswire

 

Lincoln Financial Group Announces Jon A. Boscia's Retirement

Lincoln Financial Group announced today that its Board of Directors has elected long-time director J. Patrick Barrett Chairman of the Board and named its current President and Chief Operating Officer, Dennis R. Glass, Chief Executive Officer. Both appointments were made after Jon A. Boscia informed the Board of his decision to step down from these positions and to retire from the company.

Lincoln Financial Group Announces Jon A. Boscia’s Retirement
Source: Business Wire

 

America Speaks Out on Retirement: New Research Reveals That Guaranteed Income for Life is Top Retirement Goal for 97 Percent of Baby Boomers

New research sponsored by AIG SunAmerica and conducted by Harris Interactive reveals that securing a significant source of retirement income guaranteed for life is a top financial goal for virtually all baby boomers.

Acknowledging that they are not financially prepared for a retirement that could last more than 30 years, boomers polled in the research consistently cited guaranteed lifetime income, protection against investment losses, and sufficient income to meet rising health care costs as their most important financial planning

America Speaks Out on Retirement: New Research Reveals That Guaranteed Income for Life is Top Retirement Goal for 97 Percent of Baby Boomers
Source: Business Wire

 

For annuity investors, living benefits are a safety net

...A recent survey of 1,000 Americans ages 55-80 with at least $75,000 to invest found that fear of stock market losses keeps many from investing in the diversified portfolios they need to generate adequate returns. Most would be interested in products with guarantees and, among those who are, most would pay 1 percent a year.

"The problem is fear of investing," said Mathew Greenwald, founder of the research firm Mathew Greenwald & Associates, which conducted the survey for NAVA, formerly the National Association for Variable Annuities...

Sun-Sentinel: For annuity investors, living benefits are a safety net

Friday, July 06, 2007

 

Deferred Annuities Can Have Key Role in Family Trusts

Deferred annuities can play a significant role in wealth transfer through the funding of family trusts. Wealth transfer advice is in high demand. Baby boomers are receiving inheritances from their aging parents and, in turn, want to set up strategies to transfer their own wealth to the next generation. As a result, the amount of money held in trusts, a popular wealth transfer vehicle for many wealth and estate planning advisers, is on the rise.

Deferred annuities can play a significant role in wealth transfer through the funding of family trusts. Family trusts offer unique tax benefits for those who want to create an inheritance for their children...

The Signal: Deferred Annuities Can Have Key Role in Family Trusts

 

Will Wal-Mart Be Competing With Insurance Companies?

Could Wal-Mart soon be selling insurance products? It's not such a far-fetched possibility, based on last week's announcement by the Bentonville, Ark.-based retail giant that it will open 1,000 Wal-Mart MoneyCenters -– covering one-fourth of its stores -– by the end of 2008.

In an official statement, the company said: "Wal-Mart MoneyCenters will assist customers who are outside mainstream banking with convenient, nationwide access to low-cost money services, including check cashing, money orders, bill payment and money transfers." The company also noted, "Wal-Mart will continue to pilot and test many different products and services in an effort to provide the financial services customers need at various stages of their lives..."

Insurance & Technology: Will Wal-Mart Be Competing With Insurance Companies?

 

Insurers urge court to block Michigan rule

Life and health insurers asked a federal court to block a Michigan rule that prevents insurers from interpreting their plans.

The American Council of Life Insurers and America’s Health Insurance Plans in Washington filed suit against the Michigan Office of Financial and Insurance Services in the U.S. District Court for the Western District of Michigan, which issued rules in February preventing insurers from having the discretion to interpret the policies they issue...

Investment News: Insurers urge court to block Michigan rule

Tuesday, July 03, 2007

 

Nationwide Trio Select+ Annuity Offers Flexibility for Consumers

To help consumers who are looking for ways to protect and accumulate their retirement assets, Nationwide Financial Services, Inc., has introduced the Nationwide Trio Select+ Fixed Annuity.

Trio Select+, which will enhance Nationwide's already robust suite of fixed products, is a flexible fixed annuity that allows owners to make multiple deposits, provides a competitive minimum guaranteed renewal rate and allows consumers to select from guaranteed interest rate periods of one, three or five years.

Nationwide Trio Select+ Annuity Offers Flexibility for Consumers
Source: Yahoo! Finance

 

Assurant Completes Acquisition of Mayflower National Life Insurance Company

Assurant, Inc. ("Assurant") , a premier provider of specialized insurance and insurance-related products and services, announced today that its exclusive preneed distribution agreement with Service Corporation International(R) ("SCI") has been extended three years through Sept. 30, 2013. In addition, Assurant purchased Mayflower National Life Insurance Company ("Mayflower") from SCI for $67.5 million with available cash.

Assurant Completes Acquisition of Mayflower National Life Insurance Company
Source: CNN/Money

 

Allstate Announces Sponsorship Deal with NASCAR Drive for Diversity Driver Jesus Hernandez

Allstate, the official insurance sponsor of NASCAR(R), announced that it will sponsor Drive For Diversity driver Jesus Hernandez for the 2007 season. Hernandez will compete in a total of seven NASCAR Grand National Division (NGND) events in an Allstate branded car.

Allstate Announces Sponsorship Deal with NASCAR Drive for Diversity Driver Jesus Hernandez
Source: Hispanic PR Wire

 

Rethinking the IRA

If your retirement garden -- specifically your individual retirement account or IRA -- hasn't been growing fast enough to meet your future retirement needs, you might want to join a club of contrarians: those who have decided to take matters into their own hands. Literally.

Rethinking the IRA
Source: Cincinnati Post

Monday, July 02, 2007

 

'Country Is Watching' Massachusetts Insurance Plan

Little more than a year after it was passed by Massachusetts officials, the nation's first law requiring people to have health insurance faces its biggest test: Will the remaining 375,000 or so uninsured buy policies?

Signs of the state's push for people to buy coverage are everywhere. Ads urging people to get policies are all over TV, Red Sox fans can get insurance information at Fenway Park, and a hotline is fielding more than 13,000 calls a week.

'Country Is Watching' Massachusetts Insurance Plan
Source: USA Today

 

Retirement Security Act of 2007 and Its Potential Effect on Annuities

In May of 2007, Representatives Stephanie Tubbs Jones (D-OH) and Phil English (R-PA) introduced the Retirement Security for Life Act (H.R. 2205) to help curtail the impact of deficient retirement funds of Baby Boomers by amending the Internal Revenue Code of 1986 covering annuities.

Retirement Security Act of 2007 and Its Potential Effect on Annuities
Source: Insurance News Net

 

The "Whole" Truth on Estate Planning

Nothing beats whole life insurance for providing security and flexibility in estate planning. Perhaps that sounds like an overly broad and bold statement. But I believe it wholeheartedly, and 25 years of experience has proven it true time and again.

The "Whole" Truth on Estate Planning
Source: National Underwriter (subscription required)

 

Give Your Clients What They Want: Simple Way to Shop for Life Insurance?

It’s often difficult to gauge a prospect’s needs – but there are clear sources that can help you identify how to deliver simple life insurance solutions that increase your sales.

Here are some findings about what consumers want when shopping for life insurance according to the Insurance Information Institute (I.I.I.). Thanks to the Internet, most people these days are more likely to suffer from information overload than lack of information.

Give Your Clients What They Want: Simple Way to Shop for Life Insurance?
Source: Insurance News Net

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