Friday, August 31, 2007
Regulators to Consider Policy Loan Model
Regulators are preparing to consider a proposed model that would offer guidance on life insurance policy loan programs.
A unanimous motion to begin technical work needed to consider the model was made during a conference call of the Life & Annuities “A” Committee of the National Association of Insurance Commissioners, Kansas City, MO.
Regulators to Consider Policy Loan Model
Source: National Underwriter (subscription required)
A unanimous motion to begin technical work needed to consider the model was made during a conference call of the Life & Annuities “A” Committee of the National Association of Insurance Commissioners, Kansas City, MO.
Regulators to Consider Policy Loan Model
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 7:19 AM 
The Hartford's Playbook for Life Kicks Off New Season and Brings Back-to-School Game Plan for Financial Success to DePaul University
Student-athletes at DePaul University will set aside their sports playbooks for personal finance playbooks this Tuesday as members of “Team Hartford” visit the campus to share practical lessons on money management from the award-winning national education program, Playbook for Life. Developed by The Hartford Financial Services Group, Inc. (NYSE: HIG), working closely with the National Collegiate Athletic Association (NCAA®), Playbook for Life gives student-athletes and college students the basic financial knowledge required for personal success.
The Hartford's Playbook for Life Kicks Off New Season and Brings Back-to-School Game Plan for Financial Success to DePaul University
Source: Business Wire
The Hartford's Playbook for Life Kicks Off New Season and Brings Back-to-School Game Plan for Financial Success to DePaul University
Source: Business Wire
Permalink posted by armandn @ 7:18 AM
Thursday, August 30, 2007
MIB Life Index Reports North American Life Insurance Activity Off -1.5% in July
North American application activity for individually underwritten life insurance was off slightly in July, down -1.5% year-over-year, according to the MIB Life Index(SM). July's decline in the U.S. was largely offset by very positive application activity this month in Canada. Overall for 2007, year-over-year net change shows declining activity at a decreasing rate from January / February levels in the -6.5% range. Year-to-date (YTD) life insurance application activity for the U.S. and Canada is off -3.3% compared to the same period last year.
MIB Life Index Reports North American Life Insurance Activity Off -1.5% in July
Source: PR Newswire
MIB Life Index Reports North American Life Insurance Activity Off -1.5% in July
Source: PR Newswire
Permalink posted by armandn @ 7:07 AM
Fidelity Research Institute Report Cautions Investors of Widening Guaranteed Income Gap and Poor Life Expectancy Planning when Approaching Retirement
As the oldest of the Baby Boomers begin turning 62 years old on January 1, 2008 -- the average age for retirement in America today and the age at which they become eligible to receive Social Security -- a new report released today by the Fidelity Research Institute reveals that pre-retirees significantly underestimate the length of their retirement years and how long their savings will need to last.
Fidelity Research Institute Report Cautions Investors of Widening Guaranteed Income Gap and Poor Life Expectancy Planning when Approaching Retirement
Source: Business Wire
Fidelity Research Institute Report Cautions Investors of Widening Guaranteed Income Gap and Poor Life Expectancy Planning when Approaching Retirement
Source: Business Wire
Permalink posted by armandn @ 7:06 AM
Life Settlement Association Demonstrates Historic Value Provided to Consumers
The Life Insurance Settlement Association (LISA) has published a major data report confirming the historic and present value to consumers provided by the life settlement industry. Commissioned by LISA, the Data Collection Report serves to analyze the growth, averages, and trends of the life settlement industry for 2004 and 2005. Multiple life settlement providers contributed to the report, resulting in the largest data sample published in the history of the life settlement industry by any non-governmental effort.
Life Settlement Association Demonstrates Historic Value Provided to Consumers
Source: MarketWire
Life Settlement Association Demonstrates Historic Value Provided to Consumers
Source: MarketWire
Permalink posted by armandn @ 7:05 AM
Conseco's Comeback; Should You Buy Shares in Conseco?
Shares of health insurer Conseco are down 30% year to date, trading midday Wednesday at $13.98. Volatile trading is nothing new for the company.
Conseco filed for bankruptcy in 2002 with more than $52 billion of assets on its balance sheet, making it the third-largest U.S. bankruptcy at the time. The company re-emerged in September 2003 with its assets valued at about 10% of what they were the year before, with a stock trading at $20. And until recently, Conseco shares had remained above that level.
Conseco's Comeback; Should You Buy Shares in Conseco?
Source: Insurance News Net
Conseco filed for bankruptcy in 2002 with more than $52 billion of assets on its balance sheet, making it the third-largest U.S. bankruptcy at the time. The company re-emerged in September 2003 with its assets valued at about 10% of what they were the year before, with a stock trading at $20. And until recently, Conseco shares had remained above that level.
Conseco's Comeback; Should You Buy Shares in Conseco?
Source: Insurance News Net
Permalink posted by armandn @ 7:04 AM
Wednesday, August 29, 2007
Schwab Institutional Study Finds Even the Affluent are Anxious about Retirement
Sixty-one percent of financial advisors say that having sufficient retirement savings to maintain their desired lifestyle is a constant concern of their clients, reveals Schwab Institutional's most recent Independent Advisor Outlook Study. The study also finds that another 35 percent of advisors say their clients worry about this at least some of the time.
Schwab Institutional Study Finds Even the Affluent are Anxious about Retirement
Source: PR Newswire
Schwab Institutional Study Finds Even the Affluent are Anxious about Retirement
Source: PR Newswire
Permalink posted by armandn @ 10:15 AM
Bank Annuity Sales Increase in May
In May, total bank annuity sales increased 17 percent compared to the prior month. According to the Kehrer-Jackson Monthly Bank Annuity Sales Survey, financial institutions sold $4.1 billion of fixed and variable annuities in May, up from $3.5 billion in April, $3.6 billion in March, and $2.9 billion in 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 Increase in May
Source: Insurance News Net
Bank Annuity Sales Increase in May
Source: Insurance News Net
Permalink posted by armandn @ 10:14 AM
Financial Advice: Get it in Writing
If you're an investment news junkie, you may remember hearing about the SEC and NASD stepping up fines in recent years on financial firms that give false or misleading statements to customers.
Financial Advice: Get it in Writing
Source: CNN/Money
Financial Advice: Get it in Writing
Source: CNN/Money
Permalink posted by armandn @ 10:13 AM
Tuesday, August 28, 2007
Nationwide Financial Declares a "Sevolution with Enhancements to the National Lifetime Income Rider"
Nationwide Financial Services, Inc. , announced enhancements to The Nationwide Lifetime Income Rider® beginning Sept. 4 that could potentially offer consumers even more guaranteed retirement income from their variable annuity.
Nationwide Financial Declares a "Sevolution with Enhancements to the National Lifetime Income Rider"
Source: Yahoo! Finance
Nationwide Financial Declares a "Sevolution with Enhancements to the National Lifetime Income Rider"
Source: Yahoo! Finance
Permalink posted by armandn @ 11:11 AM
The Hartford Named in Ohio Suit
Ohio Attorney General Marc Dann has sued Marsh & McLennan Cos., the world's largest insurance broker, saying it conspired with insurers to stifle competition from 2001 to 2004.
Dann's complaint, filed in Cuyahoga County Common Pleas Court, names insurers Ace Ltd., Chubb Corp., The Hartford Financial Services Group Inc., and American International Group Inc., Dann's office said Monday.
The Hartford Named in Ohio Suit
Source: Hartford Courant
Dann's complaint, filed in Cuyahoga County Common Pleas Court, names insurers Ace Ltd., Chubb Corp., The Hartford Financial Services Group Inc., and American International Group Inc., Dann's office said Monday.
The Hartford Named in Ohio Suit
Source: Hartford Courant
Permalink posted by armandn @ 11:10 AM
Are Americans Insurance Savvy?
For most of us, insurance is like a dental checkup: It's a pain, but necessary to have. In fact, nearly 90 percent of Americans polled in our recent national survey called insurance either "essential," or a "necessary evil." Less than 10 percent considered insurance a waste of money.
Are Americans Insurance Savvy?
Source: BankRate.com
Are Americans Insurance Savvy?
Source: BankRate.com
Permalink posted by armandn @ 11:09 AM
Actress Molly Shannon Encourages Americans to Get Serious About Assessing Their Life Insurance Needs this September
Actress and former Saturday Night Live cast member Molly Shannon won't be looking for laughs this September. Sharing her family's story of loss and financial struggle, she hopes to encourage people to get serious -- about protecting their family's finances. Ms. Shannon is this year's national spokesperson for Life Insurance Awareness Month, an industry-wide campaign coordinated by the nonprofit LIFE Foundation.
Actress Molly Shannon Encourages Americans to Get Serious About Assessing Their Life Insurance Needs this September
Source: Insurance News Net
Actress Molly Shannon Encourages Americans to Get Serious About Assessing Their Life Insurance Needs this September
Source: Insurance News Net
Permalink posted by armandn @ 11:08 AM
Monday, August 27, 2007
Americans Offer Many Excuses for Lack of Life Insurance Coverage
Forty-eight million U.S. households know they need more life insurance coverage, according to LIMRA International's 2005 Life Insurance Ownership Study of household financial decision makers. The self-described underinsured offered many reasons for not buying including...
Americans Offer Many Excuses for Lack of Life Insurance Coverage
Source: News-Democrat & Leader
Americans Offer Many Excuses for Lack of Life Insurance Coverage
Source: News-Democrat & Leader
Permalink posted by armandn @ 11:09 AM
Pacific Life Ranks "Excellent" by DALBAR
Pacific Life Insurance Company’s consumer and financial professional Web sites earned DALBAR’s highest designation of “Excellent,” for the second consecutive quarter, in their Q2 2007 Life Insurance & Annuity Quarterly Rankings & Trending Report. DALBAR considers Pacific Life an industry leader in offering valuable Web sites for consumers and financial professionals.
Pacific Life Ranks "Excellent" by DALBAR
Source: Business Wire
Pacific Life Ranks "Excellent" by DALBAR
Source: Business Wire
Permalink posted by armandn @ 11:08 AM
Annuities New Option for 401(k) Savings Plans
After decades of shifting workers from traditional pensions to 401(k) plans, the pendulum may be swinging again.
Employers aren't coming full circle back to defined-benefit pensions, but they are starting to introduce annuities inside 401(k) plans that are aimed at mitigating some of the market risk workers face as they retire.
Annuities New Option for 401(k) Savings Plans
Source: Insurance News Net
Employers aren't coming full circle back to defined-benefit pensions, but they are starting to introduce annuities inside 401(k) plans that are aimed at mitigating some of the market risk workers face as they retire.
Annuities New Option for 401(k) Savings Plans
Source: Insurance News Net
Permalink posted by armandn @ 11:07 AM
Friday, August 24, 2007
Why Insurance Agents Should Stop Wasting Money on Brand Advertisement
Most insurance agents today are focusing on brand marketing techniques that don't produce any results. Insurance agents are over spending their money into expensive marketing methods like bulk mailing post cards, door knocking, cold calling, bus bench advertisement, and street banners.
Why Insurance Agents Should Stop Wasting Money on Brand Advertisement
Source: Insurance News Net
Why Insurance Agents Should Stop Wasting Money on Brand Advertisement
Source: Insurance News Net
Permalink posted by armandn @ 11:26 AM
Equity Indexed Annuities Aren't Worth the Confusion
Equity-indexed annuities let investors have it both ways: They track the stock market's gains, but with less downside risk than an index fund or an exchange-traded fund. That's an appealing concept, particularly when there's so much concern about the housing market. But these insurance products also have some serious drawbacks.
Equity Indexed Annuities Aren't Worth the Confusion
Source: The Street
Equity Indexed Annuities Aren't Worth the Confusion
Source: The Street
Permalink posted by armandn @ 11:24 AM
Whole Life Insurance Is a Good Option
Whole life insurance has not had the greatest attraction in recent years but is a solid permanent life choice for today’s clients.
Whole life provides coverage as long as the policy is in force at level premiums. The cost of whole life insurance premiums remains constant and payable on a set schedule. Alternately, the premium can be paid with a single lump sum.
Whole Life Insurance Is a Good Option
Source: Insurance News Net
Whole life provides coverage as long as the policy is in force at level premiums. The cost of whole life insurance premiums remains constant and payable on a set schedule. Alternately, the premium can be paid with a single lump sum.
Whole Life Insurance Is a Good Option
Source: Insurance News Net
Permalink posted by armandn @ 11:23 AM
John Hancock Variable Annuity Sales of $2.8 Billion Set Record in Second Quarter of 2007
John Hancock's Variable Annuities sales reached a record $2.8 billion in the second quarter of 2007, the company said today. Second quarter 2007 sales were up 30% compared with the first quarter of 2007.
Moreover, John Hancock Variable Annuities recorded two "firsts" during the second quarter of 2007: US variable annuity monthly sales exceeded $1 billion (in the month of June), and assets under management exceeded $50 billion.
John Hancock Variable Annuity Sales of $2.8 Billion Set Record in Second Quarter of 2007
Source: Yahoo! Finance
Moreover, John Hancock Variable Annuities recorded two "firsts" during the second quarter of 2007: US variable annuity monthly sales exceeded $1 billion (in the month of June), and assets under management exceeded $50 billion.
John Hancock Variable Annuity Sales of $2.8 Billion Set Record in Second Quarter of 2007
Source: Yahoo! Finance
Permalink posted by armandn @ 11:21 AM
Thursday, August 23, 2007
The Promise and Perils of Variable Universal Life
Savvy investors with disposable financial resources may find variable universal life (VUL) insurance a suitable investment vehicle that provides tax-deferred earning potential with the needed death benefits. VULs serve as a highly valuable retirement income planning vehicle, but may hide some perils.
The Promise and Perils of Variable Universal Life
Source: Insurance News Net
The Promise and Perils of Variable Universal Life
Source: Insurance News Net
Permalink posted by armandn @ 7:19 AM
Jefferson National Launches MAX: Monument Advisor Xpress
Jefferson National, the company whose flat-insurance fee helps make “low-cost tax-deferral” synonymous with “variable annuity,” has now launched MAX: Monument Advisor Xpress. This free service for fee-based and fee-only advisors is a comprehensive one-stop destination with three new proprietary tools to compare, track and exchange a high-cost VA to help clients grow their portfolios and save more for retirement:
Jefferson National Launches MAX: Monument Advisor Xpress
Source: Business Wire
Jefferson National Launches MAX: Monument Advisor Xpress
Source: Business Wire
Permalink posted by armandn @ 7:17 AM
Allianz of America Increases Efficiencies of Its Two Business Operations Through New Outsourcing Agreement with IBM
Allianz of America (AZOA), parent of Fireman's Fund Insurance Company and Allianz Life Insurance Company of North America, has signed a $330 million, 7-1/2 year outsourcing agreement with IBM that leverages the combined information technology (IT) infrastructure operations of both companies. This is a key step in increasing efficiencies in AZOA's two businesses and is projected to save them around 20 percent of their current annual IT infrastructure expenses.
Allianz of America Increases Efficiencies of Its Two Business Operations Through New Outsourcing Agreement with IBM
Source: CNN/MONEY
Allianz of America Increases Efficiencies of Its Two Business Operations Through New Outsourcing Agreement with IBM
Source: CNN/MONEY
Permalink posted by armandn @ 7:15 AM
Protect Your Assets With Long-Term Care Insurance
If you haven't considered long-term care insurance yet, this might be a good time -- and not just because health care costs are spiraling. More and more states are developing long-term care partnership programs that make it easier for you to protect your nest egg.
Protect Your Assets With Long-Term Care Insurance
Source: The Street
Protect Your Assets With Long-Term Care Insurance
Source: The Street
Permalink posted by armandn @ 7:13 AM
Wednesday, August 22, 2007
TheStreet.com Announces Life & Health Insurers' Assets Grow on Strength of Variable Products
Spurred by consumer appetite for variable life and annuity products, assets of the nation's life and health insurers increased $305 billion, or 6.7%, from $4.5 trillion at first quarter 2006, to $4.9 trillion at first quarter 2007, according to TheStreet.com Ratings, a wholly owned subsidiary of TheStreet.com, Inc. a leading provider of financial commentary, analysis, research, news, and ratings.
TheStreet.com Announces Life & Health Insurers' Assets Grow on Strength of Variable Products
Source: Insurance News Net
TheStreet.com Announces Life & Health Insurers' Assets Grow on Strength of Variable Products
Source: Insurance News Net
Permalink posted by armandn @ 8:39 AM
MetLife Unit Seeks Alliance with Finance Companies
US insurer MetLife is looking to develop strategic alliances with leading finance companies to grab a bigger slice of the Argentine life insurance market, MetLife Argentina chief marketing officer Mario Traverso told BNamericas.
The executive said he saw strong growth potential coming from both the individual and group life insurance segments in Argentina thanks to a stronger economy.
MetLife Unit Seeks Alliance with Finance Companies
Source: BNamericas.com
The executive said he saw strong growth potential coming from both the individual and group life insurance segments in Argentina thanks to a stronger economy.
MetLife Unit Seeks Alliance with Finance Companies
Source: BNamericas.com
Permalink posted by armandn @ 8:38 AM
Nest Eggs Showing Cracks
Plan on retiring any time soon?
Chances are you won't have the money to retire the way you envision. As an increasing amount of money goes toward covering out-of-pocket health care costs, workers are putting less money into retirement savings.
And close to 60 percent of baby boomers have never seen a financial adviser about what they'll need in retirement or even done a simple calculation on a Web site.
"That is a pretty shocking percentage," said Pam Moret, an executive vice president at Thrivent Financial. Thrivent and Ameriprise Financial, both based in Minneapolis, released studies Monday about retirement savings.
Nest Eggs Showing Cracks
Source: TwinCities.com (free sign-up may be required)
Chances are you won't have the money to retire the way you envision. As an increasing amount of money goes toward covering out-of-pocket health care costs, workers are putting less money into retirement savings.
And close to 60 percent of baby boomers have never seen a financial adviser about what they'll need in retirement or even done a simple calculation on a Web site.
"That is a pretty shocking percentage," said Pam Moret, an executive vice president at Thrivent Financial. Thrivent and Ameriprise Financial, both based in Minneapolis, released studies Monday about retirement savings.
Nest Eggs Showing Cracks
Source: TwinCities.com (free sign-up may be required)
Permalink posted by armandn @ 8:37 AM
Industry Associations Offers a Standard Representation of the Life Settlement Process
The Life Insurance Settlement Association published a graphic representation of the life settlement process. "This is our effort to clear up some of the mystery and misinformation surrounding the process so that everyone can work from a common understanding," says LISA Executive Director, Doug Head.
LISA's The Voice of the Industry, is a seasonally published industry newsletter for public policy makers and interested parties. This publication, available on the LISA web site, is also offered to LISA Members for use in their work with the public and consumers. "An essential piece of our ongoing effort," explains Head, "is to achieve a point of common understanding about what a settlement is -- and what it is not."
Industry Associations Offers a Standard Representation of the Life Settlement Process
Source: MarketWire
LISA's The Voice of the Industry, is a seasonally published industry newsletter for public policy makers and interested parties. This publication, available on the LISA web site, is also offered to LISA Members for use in their work with the public and consumers. "An essential piece of our ongoing effort," explains Head, "is to achieve a point of common understanding about what a settlement is -- and what it is not."
Industry Associations Offers a Standard Representation of the Life Settlement Process
Source: MarketWire
Permalink posted by armandn @ 8:30 AM
Tuesday, August 21, 2007
New ING LifePay Plus Variable Annuity Optional Rider Guarantees 7% Increase to Withdrawal
ING has announced the next generation in variable annuity living benefits with the introduction today of ING LifePay Plus, which provides a guaranteed 7% annual minimum increase to the withdrawal base during the first 10 years of the annuity contract. The highly competitive guaranteed 7% increase to the withdrawal base combines with other features like automatic quarterly ratchets during the growth phase and automatic quarterly resets during the withdrawal phase, according to the company.
New ING LifePay Plus Variable Annuity Optional Rider Guarantees 7% Increase to Withdrawal
Source: PR Newswire
New ING LifePay Plus Variable Annuity Optional Rider Guarantees 7% Increase to Withdrawal
Source: PR Newswire
Permalink posted by armandn @ 7:22 AM
New Guide from Pacific Life Helps Clients Assess Their Road to Retirement
Many Americans have big dreams for retirement with little savings. Pacific Life Insurance Company and Pacific Life & Annuity Company now offer the "Road to Retirement" guide and the Retirement Income Needs fact finder to help financial professionals address the dire need for additional retirement income with their clients.
New Guide from Pacific Life Helps Clients Assess Their Road to Retirement
Source: Business Wire
New Guide from Pacific Life Helps Clients Assess Their Road to Retirement
Source: Business Wire
Permalink posted by armandn @ 7:21 AM
Life Insurers Cash In On Boomers, Annuities
As the large Baby Boomer generation approaches retirement in an era in which employer-sponsored pension plans are less common, variable life insurance and annuity products have become increasingly popular.
Life Insurers Cash In On Boomers, Annuities
Source: The Street
Life Insurers Cash In On Boomers, Annuities
Source: The Street
Permalink posted by armandn @ 7:20 AM
Ohio Casualty Merger Wins State Approval
The planned acquisition of Ohio Casualty Corp. by Liberty Mutual Group. has received the go-ahead from the Ohio and Indiana departments of insurance, the companies said Monday.
The Fairfield-based insurer inked an agreement in May to be acquired by Liberty Mutual, the sixth-largest property and casualty company in the United States, for $44 per share, or about $2.7 billion in total.
Ohio Casualty Merger Wins State Approval
Source: Biz Journals
The Fairfield-based insurer inked an agreement in May to be acquired by Liberty Mutual, the sixth-largest property and casualty company in the United States, for $44 per share, or about $2.7 billion in total.
Ohio Casualty Merger Wins State Approval
Source: Biz Journals
Permalink posted by armandn @ 7:18 AM
Monday, August 20, 2007
Gen Xers Lagging In Savings For Retirement
Baby boomers are receiving a lot of attention from financial services firms looking to help them manage retirement, but it may be the next generation that needs the most help.
Nearly half of people age 35 to 42 are at risk of not having enough money in retirement, according to research published this month by the Center for Retirement Research at Boston College.
Gen Xers Lagging In Savings For Retirement
Source: Hartford Courant
Nearly half of people age 35 to 42 are at risk of not having enough money in retirement, according to research published this month by the Center for Retirement Research at Boston College.
Gen Xers Lagging In Savings For Retirement
Source: Hartford Courant
Permalink posted by armandn @ 5:48 AM
Financial advisers likely to increase role as fiduciaries for 401(k)s, study finds
More financial advisers will specialize in becoming fiduciary advisers who work with 401(k) plans in coming years, according to a retirement executive who worked on a white paper on the issue.
The Pension Protection Act of 2006 reduces the liability for employers providing investment advice for employees in their 401(k) plans.
“It will lead to a degree of specialization,” predicted Dennis Long, vice president of retirement and investor services at The Principal Financial Group of Des Moines, Iowa, which manages $282.1 billion.
Financial advisers likely to increase role as fiduciaries for 401(k)s, study finds
Source: Investment News (subscription required)
The Pension Protection Act of 2006 reduces the liability for employers providing investment advice for employees in their 401(k) plans.
“It will lead to a degree of specialization,” predicted Dennis Long, vice president of retirement and investor services at The Principal Financial Group of Des Moines, Iowa, which manages $282.1 billion.
Financial advisers likely to increase role as fiduciaries for 401(k)s, study finds
Source: Investment News (subscription required)
Permalink posted by armandn @ 5:41 AM
Older Residents Feel Insurance Law Pinch: Age-Based Prices Too High For Some
Older people shopping for health insurance through the state's new initiative are discovering a sobering reality: Prices for unsubsidized plans are twice as expensive if you're 60 than if you're 27, making insurance unaffordable or barely affordable for many in their later years.
Older Residents Feel Insurance Law Pinch: Age-Based Prices Too High For Some
Source: Insurance News Net
Older Residents Feel Insurance Law Pinch: Age-Based Prices Too High For Some
Source: Insurance News Net
Permalink posted by armandn @ 5:35 AM
Nationwide Financial Increases Retention Limits
The ever-changing needs of the marketplace require life insurance companies to provide innovative solutions. One of those needs recently solved by Nationwide Financial Services, Inc. is to provide higher retention limits on its permanent life insurance products(a), especially to meet the specialized needs of high-net-worth clients.
Nationwide Financial Increases Retention Limits
Source: Business Wire
Nationwide Financial Increases Retention Limits
Source: Business Wire
Permalink posted by armandn @ 5:34 AM
Friday, August 17, 2007
The Annuity Conflict
Will the fourth time finally be the charm for NASD Rule 2821? The most recent amendment to 2821--the proposed rule on the suitability and supervision of deferred variable annuities--has been awash in attention from commentators and critics alike.
In response to brokerage firms and their trade groups, who have been critical of the proposed rule from its inception, the NASD has spent the last three years fine-tuning 2821. But the tinkering illustrates just how controversial this rule--currently pending before the Securities and Exchange Commission--is for the U.S. variable annuity marketplace, which grew to record size in 2006 with approximately $1.4 trillion in assets.
The Annuity Conflict
Source: On Wall Street
In response to brokerage firms and their trade groups, who have been critical of the proposed rule from its inception, the NASD has spent the last three years fine-tuning 2821. But the tinkering illustrates just how controversial this rule--currently pending before the Securities and Exchange Commission--is for the U.S. variable annuity marketplace, which grew to record size in 2006 with approximately $1.4 trillion in assets.
The Annuity Conflict
Source: On Wall Street
Permalink posted by armandn @ 5:22 AM
Long Retirement, Taxes Take Center Stage in Wealth Management
The Dow Jones Wealth Management Advisory Council surveyed the nation's top investment advisers to get a peek into what the future has in store for wealthy people -- how these advisers are positioning their practices, what issues they are focused on and what types of products they are eying.
Long Retirement, Taxes Take Center Stage in Wealth Management
Source: CBS MarketWatch
Long Retirement, Taxes Take Center Stage in Wealth Management
Source: CBS MarketWatch
Permalink posted by armandn @ 5:21 AM
Using Annuities to Protect Assets After the Deficit Reduction Act
Insurers are recognizing the savings associated with installing distributed scanning and capture technologies, according to a July 2007 survey by AIIM, who specializes in disseminating information about enterprise content management.
For the study, “Distributed Capture: Moving Closer to Document Creation,” AIIM sampled 456 end users from its database as part of a worldwide online survey. Respondents, hailing predominantly from the United States, represented organizations of all sizes across various vertical industries, with the insurance industry being among the most prominent.
Using Annuities to Protect Assets After the Deficit Reduction Act
Source: ElderLawAnswers.com
For the study, “Distributed Capture: Moving Closer to Document Creation,” AIIM sampled 456 end users from its database as part of a worldwide online survey. Respondents, hailing predominantly from the United States, represented organizations of all sizes across various vertical industries, with the insurance industry being among the most prominent.
Using Annuities to Protect Assets After the Deficit Reduction Act
Source: ElderLawAnswers.com
Permalink posted by armandn @ 5:20 AM
Personal Defined Benefit Plans for the Affluent Market: The Next Great Life Insurance Sales
For millions of consumers who need to assume greater personal responsibility for their retirement security, what I’m about to describe to you could be the next great life insurance sales opportunity. But first, we have to answer these questions:
• Is it possible to market a life insurance policy designed to act as a personal defined benefit plan?
• Will individuals for whom retirement plan contribution limitations make it impossible to fund adequate retirement incomes flock to a life insurance strategy that provides a reliable, tax-free income stream at retirement?
I believe that the answer to both questions is a resounding “yes.”
Personal Defined Benefit Plans for the Affluent Market: The Next Great Life Insurance Sales
Source: Life Insurance Selling
• Is it possible to market a life insurance policy designed to act as a personal defined benefit plan?
• Will individuals for whom retirement plan contribution limitations make it impossible to fund adequate retirement incomes flock to a life insurance strategy that provides a reliable, tax-free income stream at retirement?
I believe that the answer to both questions is a resounding “yes.”
Personal Defined Benefit Plans for the Affluent Market: The Next Great Life Insurance Sales
Source: Life Insurance Selling
Permalink posted by armandn @ 5:11 AM
Thursday, August 16, 2007
Protective Unveils New Indexed Annuity Interest Rate Option
Protective Life Insurance Company today announced the expansion of the interest crediting options available in Protective ProSaver® Index Series annuities. Today’s introduction of the Participation Rate Strategy means ProSaver Index annuity buyers now have the choice of three different indexed interest crediting strategies within their annuities.
Protective Unveils New Indexed Annuity Interest Rate Option
Source: Business Wire
Protective Unveils New Indexed Annuity Interest Rate Option
Source: Business Wire
Permalink posted by armandn @ 12:38 PM
Insurance: The New Wealth Transfer Tool
As the baby boomer population begins its move from amassing wealth to distributing assets, financial service providers are chomping at the bit to properly service its changing needs.
This shift in focus has also been a boon for the insurance industry, as the affluent and high-net-worth segments of this demographic are looking to do more than merely pass along an inheritance or reap the potential tax benefits sometimes associated with insurance. These clients are also out to manage risk--the risk of having an extra-long life.
Insurance: The New Wealth Transfer Tool
Source: On Wall Street
This shift in focus has also been a boon for the insurance industry, as the affluent and high-net-worth segments of this demographic are looking to do more than merely pass along an inheritance or reap the potential tax benefits sometimes associated with insurance. These clients are also out to manage risk--the risk of having an extra-long life.
Insurance: The New Wealth Transfer Tool
Source: On Wall Street
Permalink posted by armandn @ 12:37 PM
Insurers Implementing Scanning and Capture Systems
Insurers are recognizing the savings associated with installing distributed scanning and capture technologies, according to a July 2007 survey by AIIM, who specializes in disseminating information about enterprise content management.
For the study, “Distributed Capture: Moving Closer to Document Creation,” AIIM sampled 456 end users from its database as part of a worldwide online survey. Respondents, hailing predominantly from the United States, represented organizations of all sizes across various vertical industries, with the insurance industry being among the most prominent.
Insurers Implementing Scanning and Capture Systems
Source: Insurance Networking News
For the study, “Distributed Capture: Moving Closer to Document Creation,” AIIM sampled 456 end users from its database as part of a worldwide online survey. Respondents, hailing predominantly from the United States, represented organizations of all sizes across various vertical industries, with the insurance industry being among the most prominent.
Insurers Implementing Scanning and Capture Systems
Source: Insurance Networking News
Permalink posted by armandn @ 12:36 PM
S&P Upgrades New York Life Insurance
New York Life Insurance Co.'s financial strength rating has been upgraded to AAA by Standard & Poor's.
The AAA rating is the highest level that is assigned by the credit rating agency.
New York Life also said that its principal subsidiary, New York Life Insurance and Annuity Corp., was upgraded to AAA.
S&P Upgrades New York Life Insurance
Source: Investment News (subscription required)
The AAA rating is the highest level that is assigned by the credit rating agency.
New York Life also said that its principal subsidiary, New York Life Insurance and Annuity Corp., was upgraded to AAA.
S&P Upgrades New York Life Insurance
Source: Investment News (subscription required)
Permalink posted by armandn @ 12:34 PM
Wednesday, August 15, 2007
These Popular Retirement Funds May Give a False Sense of Security
The fact that target-date and lifestyle mutual funds have become all the rage among retirement savers is undeniable. Whether or not that's entirely good news is debatable.
Assets in these all-in-one, set-it-and-forget-it funds grew by 50% in 2006 to almost $303 billion, and that's after growing 57% in 2005, according to the Investment Company Institute. Nearly one-quarter of the 401(k) account balances of recently hired workers in their 20s are invested in such funds, according to a recent ICI report.
These Popular Retirement Funds May Give a False Sense of Security
Source: Yahoo! Finance
Assets in these all-in-one, set-it-and-forget-it funds grew by 50% in 2006 to almost $303 billion, and that's after growing 57% in 2005, according to the Investment Company Institute. Nearly one-quarter of the 401(k) account balances of recently hired workers in their 20s are invested in such funds, according to a recent ICI report.
These Popular Retirement Funds May Give a False Sense of Security
Source: Yahoo! Finance
Permalink posted by armandn @ 10:07 AM
Are You a Baby Boomer-Friendly Financial Advisor?
By this time you probably know that the baby boomer market could be the most financially rewarding market of the near future. But catering to boomers won’t be easy unless you understand what they really want. For starters, boomers come in various configurations. They are not a great big homogenous cultural or market block.
Are You a Baby Boomer-Friendly Financial Advisor?
Source: Insurane News Net
Are You a Baby Boomer-Friendly Financial Advisor?
Source: Insurane News Net
Permalink posted by armandn @ 10:06 AM
AIG to Buy German-Based Wuba
A subsidiary of New York-based American International Group, Inc. (AIG) has entered into an agreement to acquire Wurttembergische und Badische Versicherungs-AG (Wuba), its major subsidiary DARAG Deutsche Versicherungs- und Ruckversicherungs-AG (DARAG) and other minor subsidiaries from entities associated with J.C. Flowers & Co. LLC.
AIG to Buy German-Based Wuba
Source: Insurance Networking News
AIG to Buy German-Based Wuba
Source: Insurance Networking News
Permalink posted by armandn @ 10:04 AM
Tuesday, August 14, 2007
Aegon and Merrill Lynch Announce Strategic Relationship; Aegon to Acquire Merrill Lynch Life Insurance Companies
AEGON and Merrill Lynch announced they will form a strategic business relationship in the areas of insurance and investment products. As part of this relationship, an AEGON company has signed an agreement to acquire Merrill Lynch Life Insurance Company and ML Life Insurance Company of New York for USD 1.3 billion in cash. The purchase price includes excess surplus of approximately USD 425 million.
AEGON and Merrill Lynch Announce Strategic Relationship; AEGON to Acquire Merrill Lynch Life Insurance Companies
Source: PR Newswire
AEGON and Merrill Lynch Announce Strategic Relationship; AEGON to Acquire Merrill Lynch Life Insurance Companies
Source: PR Newswire
Permalink posted by armandn @ 11:40 AM
John Hancock Launches Back-to-School Campaign to Jump Start 2007 "Busy Season" for 529 Savings Plan Sales
John Hancock College Savings has launched a multi-week back-to-school campaign, "Explore, Dream, Discover," to jump start the 529 sales busy season, providing information and tools to financial consultants to help them talk to customers and prospects about using 529 plans to save for education. The campaign's main components include distribution of direct mail and sales ideas for the professionals and a fun, college savings- oriented lunchbox kit they can leave with clients.
John Hancock Launches Back-to-School Campaign to Jump Start 2007 "Busy Season" for 529 Savings Plan Sales
Source: Yahoo! Finance
John Hancock Launches Back-to-School Campaign to Jump Start 2007 "Busy Season" for 529 Savings Plan Sales
Source: Yahoo! Finance
Permalink posted by armandn @ 11:38 AM
The Windfall of an Oversight: A Rule to Ensure that Life Insurers Have Enough Reserves is Turning Out to be a Boon for Captive Insurance Vehicles
As an unintended consequence of a regulatory oversight, big life insurers set up captives to help them manage the redundant reserves ontheir guaranteed level term life insurance policies. South Carolina and Vermont are reaping the benefit.
The Windfall of an Oversight: A Rule to Ensure that Life Insurers Have Enough Reserves is Turning Out to be a Boon for Captive Insurance Vehicles
Source: Insurance News Net
The Windfall of an Oversight: A Rule to Ensure that Life Insurers Have Enough Reserves is Turning Out to be a Boon for Captive Insurance Vehicles
Source: Insurance News Net
Permalink posted by armandn @ 11:37 AM
CitiGroup Names Most-At-Risk Life Insurers
Life insurers' investment portfolios, overall, appear to be in good shape despite increasing concerns about credit quality in the U.S. housing market, Citigroup told clients this week, but stressed that certain companies' portfolios do warrant monitoring.
CitiGroup Names Most-At-Risk Life Insurers
Source: Yahoo! Finance
CitiGroup Names Most-At-Risk Life Insurers
Source: Yahoo! Finance
Permalink posted by armandn @ 11:36 AM
Friday, August 10, 2007
Do Living Benefits Really Benefit Consumers?
When it comes to retirement, clients are eager to jump on the next “sure thing.” But is it worth paying the steep price for the latest wave of guaranteed income benefits? Especially when they may not be used for years — or decades.
Do Living Benefits Really Benefit Consumers?
Source: Life Insurance Selling
Do Living Benefits Really Benefit Consumers?
Source: Life Insurance Selling
Permalink posted by armandn @ 12:43 PM
Towers Perrin Survey Indicates Increase in Companies' Use of Value-Based Measures for Financial Reporting
Companies are increasingly using value-based measures for financial reporting, executive compensation performance measurement and management decision making, according to the latest CFO survey from the Tillinghast business of Towers Perrin.
The survey indicates that although companies have made significant strides in their risk reporting, many still have concerns related to their companies’ ability to effectively report risk, as well as the potential impact of such reporting on ratings and capital requirements. CFOs also expressed that though the quality and reliability of external reporting have improved, nearly 90% believed that the cost of compliance with Sarbanes-Oxley (SOX) outweighs the benefits.
Towers Perrin Survey Indicates Increase in Companies' Use of Value-Based Measures for Financial Reporting
Source: Business Wire
The survey indicates that although companies have made significant strides in their risk reporting, many still have concerns related to their companies’ ability to effectively report risk, as well as the potential impact of such reporting on ratings and capital requirements. CFOs also expressed that though the quality and reliability of external reporting have improved, nearly 90% believed that the cost of compliance with Sarbanes-Oxley (SOX) outweighs the benefits.
Towers Perrin Survey Indicates Increase in Companies' Use of Value-Based Measures for Financial Reporting
Source: Business Wire
Permalink posted by armandn @ 12:42 PM
MetLife Subsidiary Paying $3.3M
General American Life Insurance Co. is paying a $3.3 million civil fine to settle federal regulators' charges that it failed to prevent improper late trading of mutual funds by a wealthy New York family in 2002.
MetLife Subsidiary Paying $3.3M
Source: Yahoo! Finance
MetLife Subsidiary Paying $3.3M
Source: Yahoo! Finance
Permalink posted by armandn @ 12:41 PM
Study: More Consumers to Purchase Auto Coverage Without Agent
Forty percent of U.S. adults say they would purchase automobile insurance directly via phone, Internet or mail without first consulting an agent, an increase from 29 percent in 2003, according toVertis Communications' "2007 Customer Focus Insurance" study. In particular, adults ages 35-49 are 15 percent more likely than their counterparts in 2003 to make a direct auto insurance purchase without seeing an agent, up from 30 percent in 2003 to 45 percent in 2007...
Insurance Journal: Study: More Consumers to Purchase Auto Coverage Without Agent
Insurance Journal: Study: More Consumers to Purchase Auto Coverage Without Agent
Permalink posted by markw @ 8:47 AM
Thursday, August 09, 2007
Foresters to Acquire Unity Life of Canada
Foresters and Unity Life of Canada today announced that they have entered into an agreement under which Foresters will acquire Unity Life and Unity Life will represent Foresters in the Canadian market as a member of the Foresters group of companies.
Foresters to Acquire Unity Life of Canada
Source: CNW Group
Foresters to Acquire Unity Life of Canada
Source: CNW Group
Permalink posted by armandn @ 12:02 PM
Annuities Beat Mutual Funds for Retirement Income
Individuals who use lifetime income annuities can fund a secure retirement with lump sums that are about 25% to 40% smaller than they would need if they were using other types of investments.
Annuities Beat Mutual Funds for Retirement Income
Source: National Underwriter (subscription required)
Annuities Beat Mutual Funds for Retirement Income
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 12:01 PM
Grandparents and Long-Term Care Insurance
In 1978, when National Grandparents Day was proclaimed, today's grandparents were quite young and very few of those thirty and forty somethings were planning for Long-Term Care insurance, says Frank N. Darras, the nation's leading disability and Long-Term Care insurance lawyer. They were just too young!
Grandparents and Long-Term Care Insurance
Source: Insurance News Net
Grandparents and Long-Term Care Insurance
Source: Insurance News Net
Permalink posted by armandn @ 11:59 AM
Aetna Expands Early Access to Life Insurance Financial Benefit to Help Seriously Ill Members Meet Their Living Needs
In an effort to assist life insurance members who are seriously, but not terminally ill, Aetna now allows their Accelerated Death Benefit (ADB) to become effective upon diagnosis of a specific medical condition. Before this change, the ADB, which gives policy holders access to a percentage of their life insurance funding while they are living, became effective only after a doctor determined a member had 24 months or less to live.
Aetna Expands Early Access to Life Insurance Financial Benefit to Help Seriously Ill Members Meet Their Living Needs
Source: dBusiness News
Aetna Expands Early Access to Life Insurance Financial Benefit to Help Seriously Ill Members Meet Their Living Needs
Source: dBusiness News
Permalink posted by armandn @ 11:11 AM
Wednesday, August 08, 2007
Insurer Faces Rating Cuts
Rating agencies are reacting with skepticism to a Midwestern carrier’s latest earnings release.
Conseco Inc., Carmel, Ind., is reporting a $60 million net loss for the second quarter on $1.2 billion in revenue, compared with a $22 million net loss on $1.1 billion in revenue for the second quarter of 2006.
Insurer Faces Rating Cuts
Source: National Underwriter (subscription required)
Conseco Inc., Carmel, Ind., is reporting a $60 million net loss for the second quarter on $1.2 billion in revenue, compared with a $22 million net loss on $1.1 billion in revenue for the second quarter of 2006.
Insurer Faces Rating Cuts
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 12:48 PM
Will Baby Boomers Actually 'Annuitize' Their Annuities
U.S. life insurers have added attractive features to their annuities over the past several years in an attempt to gain a greater share of the trillions in assets held by the people who will retire over the next 20 years.
Will Baby Boomers Actually 'Annuitize' Their Annuities
Source: A.M. Best (subscription required)
Will Baby Boomers Actually 'Annuitize' Their Annuities
Source: A.M. Best (subscription required)
Permalink posted by armandn @ 12:47 PM
Wharton Study Demonstrates That Lifetime Income Annuities Are Best Asset Class for Financial Security in Retirement
The studies offer a glimpse of our ability to kick back and enjoy our sunset years --or sweat them out, as the case may be. Though some studies contain nuggets of good news, it's the kind of good news that you might hear delivered at a funeral when the clergyman focuses on that better place in the azure heavens where the dearly departed now rests. Meanwhile, the congregation is reeling from the loss of their loved one.
Wharton Study Demonstrates That Lifetime Income Annuities Are Best Asset Class for Financial Security in Retirement
Source: Business Wire
Wharton Study Demonstrates That Lifetime Income Annuities Are Best Asset Class for Financial Security in Retirement
Source: Business Wire
Permalink posted by armandn @ 12:45 PM
Variable Annuities Get a Little Better; Reputation Improves, But There Still Are Some Drawbacks
Variable annuities -- which are basically mutual funds sold with insurance guarantees -- have long suffered a bad reputation for their high costs and complexity.
Now, a few insurance companies are hawking stripped-down, lower- fee annuities. While they're a big improvement in some ways, buyers need to take that sales pitch with a grain of salt.
Variable Annuities Get a Little Better; Reputation Improves, But There Still Are Some Drawbacks
Source: Insurance News Net
Now, a few insurance companies are hawking stripped-down, lower- fee annuities. While they're a big improvement in some ways, buyers need to take that sales pitch with a grain of salt.
Variable Annuities Get a Little Better; Reputation Improves, But There Still Are Some Drawbacks
Source: Insurance News Net
Permalink posted by armandn @ 12:44 PM
AT&T Wins Networking Contract With Jackson National Life Insurance
AT&T Inc. has announced that PGDS, an information technology (IT) services subsidiary of Jackson National Life Insurance Company, has awarded AT&T a five-year $1.6 million contract. The contract is for international private line voice and data services that link Jackson's headquarters in Lansing with operations in the United Kingdom.
AT&T Wins Networking Contract With Jackson National Life Insurance
Source: CNN/Money
AT&T Wins Networking Contract With Jackson National Life Insurance
Source: CNN/Money
Permalink posted by armandn @ 12:18 PM
Tuesday, August 07, 2007
AIG American General's New Index Annuity Provides Upside Potential, Downside Protection
AIG American General has announced the launch of AIG VisionMaximizer, a new index single-premium deferred annuity underwritten by American General Life Insurance Company (American General Life), a member company of American International Group, Inc. (AIG). AIG VisionMaximizer allows clients to participate in market growth based, in part, on increases in the S&P 500(R) Index and provides protection from decreases in a client's annuity value due to index losses. With four accounts to choose from, free withdrawals in all years, a premium bonus and a death benefit, AIG VisionMaximizer provides many of the features clients are looking for in an index annuity.
AIG American General's New Index Annuity Provides Upside Potential, Downside Protection
Source: Insurance News Net
AIG American General's New Index Annuity Provides Upside Potential, Downside Protection
Source: Insurance News Net
Permalink posted by armandn @ 7:42 AM
Prudential Unveils Results of Benefit Plan Sponsor Perspectives on Trends in Benefits Web Technology
Prudential Financial, Inc.’s Group Insurance business announced today the findings of the latest in a series of research reports entitled, Trends in Benefits Web Technology: 2006 Research Among Benefits Plan Sponsors. The report provides a synopsis of key trends in online benefits technology from both an employer and employee perspective culled from two recent market studies conducted by Prudential.
Prudential Unveils Results of Benefit Plan Sponsor Perspectives on Trends in Benefits Web Technology
Source: Business Wire
Prudential Unveils Results of Benefit Plan Sponsor Perspectives on Trends in Benefits Web Technology
Source: Business Wire
Permalink posted by armandn @ 7:40 AM
Will You Kick Back or Sweat Out Retirement?
The studies offer a glimpse of our ability to kick back and enjoy our sunset years -- or sweat them out, as the case may be. Though some studies contain nuggets of good news, it's the kind of good news that you might hear delivered at a funeral when the clergyman focuses on that better place in the azure heavens where the dearly departed now rests. Meanwhile, the congregation is reeling from the loss of their loved one.
Will You Kick Back or Sweat Out Retirement?
Source: Yahoo! Finance
Will You Kick Back or Sweat Out Retirement?
Source: Yahoo! Finance
Permalink posted by armandn @ 7:39 AM
No Summer Dog Days Here
As the Street has trended positive in recent months, so, too, have the financial services and insurance sectors. And although it’s normal for the investment banks to swing up and down with the market, the insurance arena is actually gaining traction from baby boomers--who are expected to eventually take some bounce out of the current market.
As this aging demographic begins its long trek toward retirement, life insurance is the watchword, analysts say. They believe that boomers will shift more and more pools of money from accumulation products and the market to offerings that are focused on longevity.
No Summer Dog Days Here
Source: On Wall Street
As this aging demographic begins its long trek toward retirement, life insurance is the watchword, analysts say. They believe that boomers will shift more and more pools of money from accumulation products and the market to offerings that are focused on longevity.
No Summer Dog Days Here
Source: On Wall Street
Permalink posted by armandn @ 7:37 AM
Monday, August 06, 2007
Prudential's Fourth Pillar Steadies the Three Legged Stool
When should I retire? Should I work after I retire? How will I generate a retirement paycheck? Where will I live? How will I spend my leisure time? How will I continue to provide for dependents? How do I protect my assets and transfer wealth?
These are but a few of the critical lifestyle questions and financial considerations that baby boomers grapple with as retirement looms closer. They are the foundation of The Fourth Pillar: Retirement Choices white paper released today by Prudential Financial.
Prudential's Fourth Pillar Steadies the Three Legged Stool
Source: Business Wire
These are but a few of the critical lifestyle questions and financial considerations that baby boomers grapple with as retirement looms closer. They are the foundation of The Fourth Pillar: Retirement Choices white paper released today by Prudential Financial.
Prudential's Fourth Pillar Steadies the Three Legged Stool
Source: Business Wire
Permalink posted by armandn @ 7:52 AM
Uniqueness Counts In the Independent Agent's Sales Process
Advisors are likely to be impacted by the June 2007 federal court decision in Hawaii denying class certification against Midland National for the sale of fixed index annuities.
Uniqueness Counts In the Independent Agent's Sales Process
Source: A.M. Best (subscription required)
Uniqueness Counts In the Independent Agent's Sales Process
Source: A.M. Best (subscription required)
Permalink posted by armandn @ 7:50 AM
Lifetime Income Offers Advisers Key Sales Opportunity
Having enough income to last until age 90 and beyond is a future problem for baby boomers, but it can be solved now.
So said retirement income executives who spoke at the Guaranteed Income — The New Asset Class news conference here last week, which was sponsored by the Hartfor (Conn.) Financial Services Group Inc.
Lifetime Income Offers Advisers Key Sales Opportunity
Source: Investment News (subscription required)
So said retirement income executives who spoke at the Guaranteed Income — The New Asset Class news conference here last week, which was sponsored by the Hartfor (Conn.) Financial Services Group Inc.
Lifetime Income Offers Advisers Key Sales Opportunity
Source: Investment News (subscription required)
Permalink posted by armandn @ 7:49 AM
Insight on Selling Life Insurance and Annuities
Egos can get really big sometimes. Have you ever measured the size of your ego when you looked into the mirror? But egos can be darn good too. They are intertwined with our competitiveness as successful sales people. That’s why good salespeople need to be double-minded – in a good way of course. Self-focused to be competitive, while other-focused to make the best life and annuity sales.
Insight on Selling Life Insurance and Annuities
Source: Insurance News Net
Insight on Selling Life Insurance and Annuities
Source: Insurance News Net
Permalink posted by armandn @ 7:48 AM
New Retirees: Market's a Bear? Don't Despair
The summer's stock market volatility raises a difficult question for new retirees and those about to join them.
If studies show that one of the worst things that can happen to a retiree is a significant bear market early in the journey, what can be done to salvage a portfolio?
New Retirees: Market's a Bear? Don't Despair
Source: Hartford Courant
If studies show that one of the worst things that can happen to a retiree is a significant bear market early in the journey, what can be done to salvage a portfolio?
New Retirees: Market's a Bear? Don't Despair
Source: Hartford Courant
Permalink posted by armandn @ 7:47 AM
When to Buy Long-Term Care Insurance
You may struggle with the question of whether or not to buy long-term care insurance. But if you decide that you want it, choosing when to buy it can be even more of a challenge.
Long-term care insurance pays out financial benefits to help you pay the expenses of nursing homes, home health care, and similar needs resulting from chronic illness or disability. Because the cost of such care is so high -- $5,000 per month or more for full-time care in a skilled nursing facility -- many financial advisors recommend insurance coverage to keep those costs from wiping out your entire life savings.
When to Buy Long-Term Care Insurance
Source: Motley Fool
Long-term care insurance pays out financial benefits to help you pay the expenses of nursing homes, home health care, and similar needs resulting from chronic illness or disability. Because the cost of such care is so high -- $5,000 per month or more for full-time care in a skilled nursing facility -- many financial advisors recommend insurance coverage to keep those costs from wiping out your entire life savings.
When to Buy Long-Term Care Insurance
Source: Motley Fool
Permalink posted by armandn @ 7:46 AM
Friday, August 03, 2007
The Value of Customer Intimacy in Marketing Insurance
Today’s consumer has a wide range of choices: from the basic term life insurance that provides coverage within a specified period to the tax-sheltered universal life insurance with flexible investment options. And then there’s the major league of complicated insurance products: health insurance, disability insurance, long-term care insurance and critical illness insurance. Don’t forget home or apartment insurance, automobile insurance, property insurance, liability insurance, and workers’ compensation insurance.
The Value of Customer Intimacy in Marketing Insurance
Source: Insurance News Net
The Value of Customer Intimacy in Marketing Insurance
Source: Insurance News Net
Permalink posted by armandn @ 8:10 AM
A New Insurance Kid In Town
Hartford is getting a brand-new company to support its nickname as the Insurance City: SPARTA Insurance Co., a business insurer with a twist.
It's relatively rare for a new insurer to be created in Connecticut as an independent company, not as part of an existing insurer. So SPARTA's upcoming launch is welcome news in the city, which still has such household names as Aetna, Travelers and The Hartford but is trying to bolster its reputation as an insurance capital.
A New Insurance Kid In Town
Source: Hartford Courant
It's relatively rare for a new insurer to be created in Connecticut as an independent company, not as part of an existing insurer. So SPARTA's upcoming launch is welcome news in the city, which still has such household names as Aetna, Travelers and The Hartford but is trying to bolster its reputation as an insurance capital.
A New Insurance Kid In Town
Source: Hartford Courant
Permalink posted by armandn @ 8:07 AM
Beware of Brokers Bearing Annuities
The first baby boomers are making plans for retirement, with their 401(k) plans stuffed with savings. In response to the pending onslaught of soon-to-be retirees, the insurance industry has metamorphosed into "retirement planning." However, it's promoting marketing techniques designed more to generate sales than to expand investors' holdings.
Beware of Brokers Bearing Annuities
Source: Motley Fool
Beware of Brokers Bearing Annuities
Source: Motley Fool
Permalink posted by armandn @ 8:06 AM
Live Larger in Retirement
We all fantasize about retiring rich. We may spend decades working toward it -- saving, investing, and planning for a comfortable future. With a good plan, sustained effort, and a little luck, you'll arrive at retirement with a nice big nest egg.
Live Larger in Retirement
Source: Yahoo! Finance
Live Larger in Retirement
Source: Yahoo! Finance
Permalink posted by armandn @ 8:04 AM
Thursday, August 02, 2007
Retirement at Risk: Who's Falling Short
How would you feel about doubling or tripling your 401(k) contributions?
For some people, that may be the only solution if they want to maintain their current lifestyle in retirement.
The Center for Retirement Research (CRR) estimates that 36 percent of high-income households - those with a median income of $117,000 - won't be able to live as well in retirement as they do today. Among middle-income households, 40 percent are at risk of having to downsize, while 53 percent of low-income households are likely to fall short.
Retirement at Risk: Who's Falling Short
Source: Yahoo! Finance
For some people, that may be the only solution if they want to maintain their current lifestyle in retirement.
The Center for Retirement Research (CRR) estimates that 36 percent of high-income households - those with a median income of $117,000 - won't be able to live as well in retirement as they do today. Among middle-income households, 40 percent are at risk of having to downsize, while 53 percent of low-income households are likely to fall short.
Retirement at Risk: Who's Falling Short
Source: Yahoo! Finance
Permalink posted by armandn @ 7:47 AM
Is There Really a Retirement Savings Crisis?
The National Retirement Risk Index (NRRI) has shown that even if households work to age 65 and annuitize all their financial assets, including the receipts from reverse mortgages on their homes, nearly 45 percent will be 'at risk' of being unable to maintain their standard of living.
Is There Really a Retirement Savings Crisis
Source: The Mature Market
Is There Really a Retirement Savings Crisis
Source: The Mature Market
Permalink posted by armandn @ 7:45 AM
U.K. Prudential Makes U.S. Annuity Push
As it pushes into U.S. annuity sales and other retirement-fund businesses, British life insurer Prudential PLC reported sharply higher profit for the first half.
U.K. Prudential Makes U.S. Annuity Push
Source: Wall Street Journal (subscription required)
U.K. Prudential Makes U.S. Annuity Push
Source: Wall Street Journal (subscription required)
Permalink posted by armandn @ 7:43 AM
Simplify the Process of Choosing the Right Annuity
Annuities are investment vehicles that can help your clients realize long-term financial goals and provide a streaming retirement income when used correctly as part of an overall investment strategy. The operative term here is “correct use.” This means identifying the right annuity is critical to the overall success of the investment strategy.
Simplify the Process of Choosing the Right Annuity
Source: Insurance News Net
Simplify the Process of Choosing the Right Annuity
Source: Insurance News Net
Permalink posted by armandn @ 7:43 AM
MetLife Resources and MetLife Securities Enter Into New Alliance with ProManage, LLC
MetLife Resources, a division of MetLife, and MetLife Securities, Inc., an investment adviser and broker-dealer affiliate of MetLife, announced today that they have entered into a new alliance with ProManage, LLC, a registered investment adviser that specializes in providing managed accounts services for 401(k), 403(b) and 457 plans. Through this alliance, ProManage will offer its managed accounts to qualified retirement and 403(b) plans sponsored by non-profit organizations and governed under the Employee Retirement Income Security Act (ERISA) for which MetLife Resources provides administrative services.
MetLife Resources and MetLife Securities Enter Into New Alliance with ProManage, LLC
Source: Business Wire
MetLife Resources and MetLife Securities Enter Into New Alliance with ProManage, LLC
Source: Business Wire
Permalink posted by armandn @ 7:41 AM
Wednesday, August 01, 2007
John Hancock Funds Adds New Retirement Portfolio Calculator to Web Site
John Hancock Funds recently launched a new retirement portfolio calculator on its award-winning web site, www.jhfunds.com. Visitors to the John Hancock Funds site will find the calculator by selecting the "Retirement Planning" tab at the top of the home page, choosing "Tools and Calculators" and then "Preparing for Retirement." By adjusting the sliders to view different annual withdrawal rates and distribution periods, investors will see a projected probability of success, defined as a percentage chance of retirement portfolio survival.
John Hancock Funds Adds New Retirement Portfolio Calculator to Web Site
Source: Yahoo! Finance
John Hancock Funds Adds New Retirement Portfolio Calculator to Web Site
Source: Yahoo! Finance
Permalink posted by armandn @ 12:55 PM
Actuaries Adopt New Risk-Modeling Technologies
If one were to attempt to identify a core of conservatism in the traditionally conservative business of life insurance, one probably would point to the assumptions built into the formulaic statutory accounting by which insurers have demonstrated their ability to cover the risks they assume.
The conservatism of those assumptions imparted a certain financial solidity to the industry, and its tendency to cause insurers to err on the side of overpricing was easily reconciled within the industry's long-standing mutual company system: When end-of-year accounting revealed that premium had been overpriced, carriers could simply send their policyholders higher dividends.
Actuaries Adopt New Risk-Modeling Technologies
Source: Tech Web
The conservatism of those assumptions imparted a certain financial solidity to the industry, and its tendency to cause insurers to err on the side of overpricing was easily reconciled within the industry's long-standing mutual company system: When end-of-year accounting revealed that premium had been overpriced, carriers could simply send their policyholders higher dividends.
Actuaries Adopt New Risk-Modeling Technologies
Source: Tech Web
Permalink posted by armandn @ 12:53 PM
MassMutual Call Center Wins Prestigious Service Award
MassMutual's Retirement Services Call Center has earned a 2007 Annual Call Center Excellence Award sponsored by the International Quality & Productivity Center (IQPC). MassMutual's Retirement Services Call Center was named the 1st Place Runner Up in the "Best in Class Call Center" category (staff of less than 500). The award was announced at the 8th Annual Call Center Week conference sponsored by IQPC and held in Las Vegas. IQPC provides business executives around the world with tailored practical conferences, large scale events, topical seminars and in-house training programs to keep them up-to-date with industry trends and technological developments.
MassMutual Call Center Wins Prestigious Service Award
Source: PR Newswire
MassMutual Call Center Wins Prestigious Service Award
Source: PR Newswire
Permalink posted by armandn @ 12:52 PM
When to Go Term, When to Go Perm?
When a client is looking to purchase insurance, don’t automatically push more expensive permanent life insurance policies if term life insurance products can adequately meet his or her needs. When it comes to making preliminary assessment about insurance products, the right amount of coverage is more important than the type of policy.
Few consumers have enough understanding to make the correct choice between a permanent and a term insurance without any assistance from a professional like you. The question is… do you know when to recommend the right product? When does a term insurance policy make sense and when is permanent insurance more suitable?
When to Go Term, When to Go Perm?
Source: Insurance News Net
Few consumers have enough understanding to make the correct choice between a permanent and a term insurance without any assistance from a professional like you. The question is… do you know when to recommend the right product? When does a term insurance policy make sense and when is permanent insurance more suitable?
When to Go Term, When to Go Perm?
Source: Insurance News Net
Permalink posted by armandn @ 12:48 PM
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