Friday, November 30, 2007
Nationwide Financial Adds Low-Cost, Income Options to America's marketFLEX Variable Annuities
Nationwide Financial Services, Inc. , has expanded its line of annuities that provide consumers access to alternative asset classes by adding the low-cost marketFLEX Advisor Annuity designed for fee-based investment professionals, and America’s marketFLEX II, which provides enhanced income and death benefit protection.
Nationwide Financial Adds Low-Cost, Income Options to America's marketFLEX Variable Annuities
Source: Yahoo! Finance
Nationwide Financial Adds Low-Cost, Income Options to America's marketFLEX Variable Annuities
Source: Yahoo! Finance
Permalink posted by armandn @ 7:38 AM 
Regulators Review Designation Rules
The National Association of Insurance Commissioners might want to consider creating a model that would govern use of producer credentials.
Regulators Review Designation Rules
Source: National Underwriter (subscription required)
Regulators Review Designation Rules
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 7:37 AM
Banks Wave of the Future, Says FRC Exec
The biggest growth area in the next five years for distribution of investment products will be the banking channel, said Ian Rubin, senior vice president and director of retail investment markets & strategic advisory business at Financial Research Corp. of Boston.
Banks Wave of the Future, Says FRC Exec
Source: Investment News (subscription required)
Banks Wave of the Future, Says FRC Exec
Source: Investment News (subscription required)
Permalink posted by armandn @ 7:36 AM
A Powerful Tool for Expanding Your Annuity Sales Strategy
Agents and brokers who are new to annuities may not be aware of the value of specimen policies in enhancing their knowledge of some rather complicated products.
A specimen policy is a copy of the policy that is issued to an investor once he or she signs an application for an annuity. The purpose of the specimen policy is to provide the investor a means to review and become familiar with the annuity policy provisions so he or she can make an informed decision before purchasing the contract.
A Powerful Tool for Expanding Your Annuity Sales Strategy
Source: Insurance News Net
A specimen policy is a copy of the policy that is issued to an investor once he or she signs an application for an annuity. The purpose of the specimen policy is to provide the investor a means to review and become familiar with the annuity policy provisions so he or she can make an informed decision before purchasing the contract.
A Powerful Tool for Expanding Your Annuity Sales Strategy
Source: Insurance News Net
Permalink posted by armandn @ 7:35 AM
AIG Launches Revamped, Enhanced Web Site
American International Group has launched the enhanced version of its Web site, AIG.com.
According to AIG, the new site was designed to allow AIG’s U.S.-based commercial clients and insurance brokers to find information and enable simpler business transactions with the AIG Companies more quickly and efficiently.
AIG Launches Revamped, Enhanced Web Site
Source: Producer's Web
According to AIG, the new site was designed to allow AIG’s U.S.-based commercial clients and insurance brokers to find information and enable simpler business transactions with the AIG Companies more quickly and efficiently.
AIG Launches Revamped, Enhanced Web Site
Source: Producer's Web
Permalink posted by armandn @ 7:31 AM
Thursday, November 29, 2007
A Conversation with Your Futureself: Baby Boomers and Retirees Look to the Future for Answers About the Present
If you had the opportunity to speak with yourself 20 years from now -- your futureself -- and ask any question about your life in retirement, what would you want to know? The Lincoln Retirement Institute released a new survey today that asked baby boomers and retirees (ages 42+) to imagine what their futures in retirement will be like and reflect on the decisions they have made in the past. Overall, the survey shows that respondents are cautiously optimistic.
A Conversation with Your Futureself: Baby Boomers and Retirees Look to the Future for Answers About the Present
Source: Yahoo! Finance
A Conversation with Your Futureself: Baby Boomers and Retirees Look to the Future for Answers About the Present
Source: Yahoo! Finance
Permalink posted by armandn @ 10:20 AM
The Anatomy of Fixed Immediate Annuities
Some of the negative comments about annuities deal with cost and/or complexity due to charges for mortality, expenses, account management and administration, and special features and riders. It can be challenging for most consumers to understand exactly what they are buying and whether the price is worth it. While much of this negativity has been earned, the simpler cousin of these annuities, the immediate annuity, has been largely forgotten.
The Anatomy of Fixed Immediate Annuities
Source: Insurance News Net
The Anatomy of Fixed Immediate Annuities
Source: Insurance News Net
Permalink posted by armandn @ 10:19 AM
Thrivent Financial to Consolidate Policy Administration on CSC Platform
Computer Sciences Corporation today announced that Thrivent Financial for Lutherans has licensed CSC's Wealth Management Accelerator software. Thrivent Financial will consolidate six legacy systems that provide life insurance and annuity administration onto the CSC software platform.
Thrivent Financial to Consolidate Policy Administration on CSC Platform
Source: PR Newswire
Thrivent Financial to Consolidate Policy Administration on CSC Platform
Source: PR Newswire
Permalink posted by armandn @ 10:19 AM
John Hancock Funds Named a Top Financial Intermediary Web Site for 2007 by Kasina
John Hancock Funds has been named one of the Top 10 web sites for financial intermediaries for 2007 by kasina, a management consulting firm. Ranked in sixth place, John Hancock Funds (www.jhfunds.com) was cited for the simplicity and ease of use of its portfolio tools, including its "Proposal Builder" customized presentation tool for financial advisors. kasina reviewed 101 advisor web sites for its 9th annual rankings.
John Hancock Funds Named a Top Financial Intermediary Web Site for 2007 by Kasina
Source: Yahoo! Finance
John Hancock Funds Named a Top Financial Intermediary Web Site for 2007 by Kasina
Source: Yahoo! Finance
Permalink posted by armandn @ 10:17 AM
Wednesday, November 28, 2007
Prudential Group Disability Professional Aims to Increase Awareness of the Role of Disability Insurance in Maintaining Financial Security
With the graying of America’s population, there is an increased need for workers to ramp up their knowledge of the benefits of disability insurance. In particular, workers need to understand their disability benefits and the extent to which they will provide income replacement. The Prudential Insurance Company of America, Newark, NJ (Prudential), disability insurance executive Terry Cohen is available to address trends and issues associated with disability benefits and the implications of the unfortunate little time and few dollars currently being spent on disability coverage.
Prudential Group Disability Professional Aims to Increase Awareness of the Role of Disability Insurance in Maintaining Financial Security
Source: Yahoo! Finance
Prudential Group Disability Professional Aims to Increase Awareness of the Role of Disability Insurance in Maintaining Financial Security
Source: Yahoo! Finance
Permalink posted by armandn @ 10:22 AM
Life Insurance Proceeds May Boost Charitable Giving Ability
Time and time again, Americans have shown their generosity to charities. Most Americans give to their favorite charities, churches and local community organizations to share their good fortune each year.
While many donors give in order to help charities carry out their missions, tax savings are an added benefit. For those who are inclined to give but wonder how donations can be maximized, life insurance should be considered.
Life Insurance Proceeds May Boost Charitable Giving Ability
Source: Springfield Business Journal
While many donors give in order to help charities carry out their missions, tax savings are an added benefit. For those who are inclined to give but wonder how donations can be maximized, life insurance should be considered.
Life Insurance Proceeds May Boost Charitable Giving Ability
Source: Springfield Business Journal
Permalink posted by armandn @ 10:21 AM
VUL/IUL: A Tale of Two Products
For years, life insurance has been used as an accumulation vehicle. Today, accumulation-oriented life insurance is more attractive than ever.
1. New products are much more efficient by minimizing the internal costs of the death benefit and expenses providing higher accumulated values.
2. New products are much more flexible, providing features that give clients access to cash values earlier and cover more risks, such as long term care, nursing home costs, terminal illness, chronic illness, critical illness, etc.
3. The taxation benefits of life insurance — tax-free inside buildup and tax-free distributions. In a world where future tax rates are uncertain at best, this gives life insurance a huge advantage over other accumulation vehicles.
VUL/IUL: A Tale of Two Products
Source: Producer's Web
1. New products are much more efficient by minimizing the internal costs of the death benefit and expenses providing higher accumulated values.
2. New products are much more flexible, providing features that give clients access to cash values earlier and cover more risks, such as long term care, nursing home costs, terminal illness, chronic illness, critical illness, etc.
3. The taxation benefits of life insurance — tax-free inside buildup and tax-free distributions. In a world where future tax rates are uncertain at best, this gives life insurance a huge advantage over other accumulation vehicles.
VUL/IUL: A Tale of Two Products
Source: Producer's Web
Permalink posted by armandn @ 10:17 AM
U.S. Individual Life Insurance Premium Sales Soar, Says LIMRA
LIMRA International reports U.S. individual life insurance premium increased twenty percent in third quarter 2007 resulting in an eight percent increase for the first nine months of 2007 over 2006.
"Corporate-owned life insurance (COLI) (cases of 200 lives or less) and private placement sales made a significant impact this quarter," said Ashley Durham, LIMRA analyst for product research. "In addition, companies noted that increased service to and expansion into new distribution channels (such as BGAs/MGAs/wholesalers) also affected sales tremendously.”
U.S. Individual Life Insurance Premium Sales Soar, Says LIMRA
Source: Insurance News Net
"Corporate-owned life insurance (COLI) (cases of 200 lives or less) and private placement sales made a significant impact this quarter," said Ashley Durham, LIMRA analyst for product research. "In addition, companies noted that increased service to and expansion into new distribution channels (such as BGAs/MGAs/wholesalers) also affected sales tremendously.”
U.S. Individual Life Insurance Premium Sales Soar, Says LIMRA
Source: Insurance News Net
Permalink posted by armandn @ 9:50 AM
Tuesday, November 27, 2007
An Insurance Man Builds A Lively Business in Death
As Life Settlements Boom, Banks, Regulators Circle; Betting on Larry King
Alan Buerger wants to show investors the upside of death... The former insurance salesman runs Coventry First LLC, which lets investors essentially bet on -- and profit from -- other people's demise.
His company is in the business of buying rights to life-insurance policies. In an arrangement known as a "life settlement," Coventry pays the holder a lump sum for the policy now, takes over paying the premiums for as long as the insured person lives, then collects the benefits -- generally worth far more -- when the person dies. Coventry keeps some of the policies in its own portfolio. It sells others to institutional investors. From an investor's standpoint, as a general rule, the sooner these people die, the better...
WSJ: An Insurance Man Builds A Lively Business in Death
Alan Buerger wants to show investors the upside of death... The former insurance salesman runs Coventry First LLC, which lets investors essentially bet on -- and profit from -- other people's demise.His company is in the business of buying rights to life-insurance policies. In an arrangement known as a "life settlement," Coventry pays the holder a lump sum for the policy now, takes over paying the premiums for as long as the insured person lives, then collects the benefits -- generally worth far more -- when the person dies. Coventry keeps some of the policies in its own portfolio. It sells others to institutional investors. From an investor's standpoint, as a general rule, the sooner these people die, the better...
WSJ: An Insurance Man Builds A Lively Business in Death
Permalink posted by markw @ 12:12 PM
Thinking Ahead
Treasury Prepares to Lay Down a Marker for the Future (Part 2)
2.2.1. What are the costs and benefits of State-based regulation of the insurance industry?
The only way to answer this question is with another question: compared to what? It seems clear that some insurance regulation at the state level is better than no regulation at all. Insurance is a contractual arrangement, and it is difficult for ordinary consumers to negotiate their own contracts or to understand the terms of a contract furnished by an insurer. Even if the courts are lenient in giving insured parties the benefit of the doubt in contract interpretation, consumer protection at the state level in the form of approving contracts for use in the state is better from the standpoint of consumers than no state regulation...
American Enterprise Institute: Thinking Ahead - Treasury Prepares to Lay Down a Marker for the Future (Part 2)
2.2.1. What are the costs and benefits of State-based regulation of the insurance industry?
The only way to answer this question is with another question: compared to what? It seems clear that some insurance regulation at the state level is better than no regulation at all. Insurance is a contractual arrangement, and it is difficult for ordinary consumers to negotiate their own contracts or to understand the terms of a contract furnished by an insurer. Even if the courts are lenient in giving insured parties the benefit of the doubt in contract interpretation, consumer protection at the state level in the form of approving contracts for use in the state is better from the standpoint of consumers than no state regulation...
American Enterprise Institute: Thinking Ahead - Treasury Prepares to Lay Down a Marker for the Future (Part 2)
Permalink posted by markw @ 8:35 AM
Package Deals
New 'hybrid' policies give you more options when buying long-term-care insurance
If you're shopping for long-term-care insurance, recent legislation in Washington is giving rise to more products and more options -- if not more simplicity... The Pension Protection Act of 2006, among other provisions, changed the tax rules involving the way two types of products -- life insurance and annuities -- intersect with long-term-care insurance. In short, sellers of annuities for the first time are allowed to package long-term-care contracts with their products that pay tax-free benefits.
WSJ: Package Deals
If you're shopping for long-term-care insurance, recent legislation in Washington is giving rise to more products and more options -- if not more simplicity... The Pension Protection Act of 2006, among other provisions, changed the tax rules involving the way two types of products -- life insurance and annuities -- intersect with long-term-care insurance. In short, sellers of annuities for the first time are allowed to package long-term-care contracts with their products that pay tax-free benefits.
WSJ: Package Deals
Permalink posted by markw @ 8:31 AM
Insurers Can Vary Much in Quality
Any company that does millions of dollars in business can expect a few complaints. But some life insurance companies – including three under the umbrella of the highest-profile insurer in Indiana – have racked up dozens of times as many complaints as expected for their share of the market.
One, Washington National Insurance, averaged 60 times the number of complaints for its share of Hoosier life insurance between 2004 and 2006. That was the highest average among the more than 200 life insurance companies with complaints reviewed by The Journal Gazette.
Insurers Can Vary Much in Quality
Source: Journal Gazette
One, Washington National Insurance, averaged 60 times the number of complaints for its share of Hoosier life insurance between 2004 and 2006. That was the highest average among the more than 200 life insurance companies with complaints reviewed by The Journal Gazette.
Insurers Can Vary Much in Quality
Source: Journal Gazette
Permalink posted by armandn @ 6:41 AM
Mutual Fund/Insurance Hybrid On the Horizon
As early as next year, retirees may see a new hybrid investment product that blends mutual funds with insurance guarantees, possibly signifying an alliance between the two industries.
Mutual Fund/Insurance Hybrid On the Horizon
Source: Investment News (subscription required)
Mutual Fund/Insurance Hybrid On the Horizon
Source: Investment News (subscription required)
Permalink posted by armandn @ 6:39 AM
Great-West Lifeco Subsidiary to Sell U.S. Health Care Business
Great-West Lifeco Inc. announced today that its subsidiary, U.S.-based Great-West Life & Annuity Insurance Company, has signed a definitive agreement to sell its health care business, Great-West Healthcare, to a subsidiary of CIGNA Corporation. The transaction has an enterprise value of US $2.25 billion and is expected to close during the first half of 2008, subject to regulatory and certain other approvals.
Great-West Lifeco Subsidiary to Sell U.S. Health Care Business
Source: PR Newswire
Great-West Lifeco Subsidiary to Sell U.S. Health Care Business
Source: PR Newswire
Permalink posted by armandn @ 6:37 AM
Long-Term Care Insurance Worth It
A number of surveys show that many people are unprepared for the cost of a prolonged illness, especially in their senior years.
By unprepared, the surveys mean that not enough folks are buying long-term care insurance, which can cover the cost of nursing homes, assisted-living facilities and in-home care. The insurance also covers expenses for those who need assistance with daily activities such as eating, dressing and bathing, or who have a severe cognitive impairment such as Alzheimer's disease.
By unprepared, the surveys mean that not enough folks are buying long-term care insurance, which can cover the cost of nursing homes, assisted-living facilities and in-home care. The insurance also covers expenses for those who need assistance with daily activities such as eating, dressing and bathing, or who have a severe cognitive impairment such as Alzheimer's disease.
Long-Term Care Insurance Worth It
Source: Contra Costa Times
Permalink posted by armandn @ 6:35 AM
Monday, November 26, 2007
AnnuitySpecs.com Releases Third Quarter 2007 Indexed Sales Results
Fifty-seven of 60 Indexed Annuity carriers participated in the 41st edition of the Advantage Index Sales & Market Report, representing 99% of Indexed Annuity production. Total third quarter sales were $6.4 billion, down 1.7% from second quarter sales. As compared to the same period last year, sales are down 2.0%. Remarks Sheryl Moore, CEO of AnnuitySpecs.com, “It’s really quite remarkable that sales have not suffered more considering how depressed participation rates, caps, and spreads have been over the quarter. This is an amazing story of strength for the industry.” Sales year-to-date were $18.7 billion, down 2.8% from the previous period.
AnnuitySpecs.com Releases Third Quarter 2007 Indexed Sales Results
Source: Insurance News Net
AnnuitySpecs.com Releases Third Quarter 2007 Indexed Sales Results
Source: Insurance News Net
Permalink posted by armandn @ 11:19 AM
MetLife Announces Acquisition of AFORE Actinver
MetLife, Inc. announced today that its Mexican affiliate, MetLife Mexico, S.A., has signed a definitive agreement to acquire AFORE Actinver, S.A. de C.V. as part of its strategy to strengthen MetLife Mexico’s savings and retirement portfolio and to expand its presence in Mexico.
This agreement is subject to customary closing conditions including regulatory approval by the National Commission of Savings for Retirement (CONSAR), and the Federal Competition Commission (COFECO) in Mexico. Terms of the transaction were not disclosed.
MetLife Announces Acquisition of AFORE Actinver
Source: Business Wire
This agreement is subject to customary closing conditions including regulatory approval by the National Commission of Savings for Retirement (CONSAR), and the Federal Competition Commission (COFECO) in Mexico. Terms of the transaction were not disclosed.
MetLife Announces Acquisition of AFORE Actinver
Source: Business Wire
Permalink posted by armandn @ 11:18 AM
John Hancock Funds Wins 'Best Use of Technology' Award from Massachusetts Innovation & Technology Exchange
John Hancock Funds won one of six top awards from the Massachusetts Innovation & Technology Exchange (MITX) at the 12th annual award dinner celebrating New England's best interactive technology achievements. John Hancock Funds' "Proposal Builder" - a web site tool enabling financial advisors to customize investment solutions for clients - was one of two winners for "Best Use of Technology."
John Hancock Funds Wins 'Best Use of Technology' Award from Massachusetts Innovation & Technology Exchange
Source: PR Newswire
John Hancock Funds Wins 'Best Use of Technology' Award from Massachusetts Innovation & Technology Exchange
Source: PR Newswire
Permalink posted by armandn @ 11:17 AM
Vanguard and Fidelity Top Fund Survey
Vanguard Group and Fidelity Investments were named “stars” in Cogent Research’s ranking of mutual fund companies.
In a survey called “Investor Brandscape,” Cogent, a Cambridge, Mass. marketing firm, examined four components to measure the strengths of the firms and see who is poised for future growth.
Vanguard and Fidelity Top Fund Survey
Source: Investment News (subscription required)
In a survey called “Investor Brandscape,” Cogent, a Cambridge, Mass. marketing firm, examined four components to measure the strengths of the firms and see who is poised for future growth.
Vanguard and Fidelity Top Fund Survey
Source: Investment News (subscription required)
Permalink posted by armandn @ 11:15 AM
Wednesday, November 21, 2007
The Estate Tax Turkey
In the spirit of the holiday, we'll put a sweet glaze on the current half-baked state of the federal estate tax law: It gives family members an opening to talk this Thanksgiving about what would happen if one of them were incapacitated or died.
Under the current law, the federal estate tax disappears in 2010, for just one year, and then reappears in 2011 in its 2001 incarnation. That's absurd and no one believes it will happen. Indeed, just last week the Senate Finance Committee held a hearing, with Berkshire Hathaway's Warren Buffet as the star witness, on what should be done about the estate tax.
The Estate Tax Turkey
Source: Forbes
Under the current law, the federal estate tax disappears in 2010, for just one year, and then reappears in 2011 in its 2001 incarnation. That's absurd and no one believes it will happen. Indeed, just last week the Senate Finance Committee held a hearing, with Berkshire Hathaway's Warren Buffet as the star witness, on what should be done about the estate tax.
The Estate Tax Turkey
Source: Forbes
Permalink posted by armandn @ 8:36 AM
Ameritas Adds GLWB Rider to No-Load VA Contract
An insurer will be selling an income planning feature to a variable annuity aimed at the clients of registered investment advisors.
Ameritas Adds GLWB Rider to No-Load VA Contract
Source: National Underwriter (subscription required)
Ameritas Adds GLWB Rider to No-Load VA Contract
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 8:34 AM
How Agents Can Succeed In Estate Planning
When it comes to estate planning, experts say learn as much as you can and do it as soon as possible. But while most Americans want to protect the interest of their heirs, 55% of people in the US die without any kind of estate plan or will.
The consequence of the lack of preparedness could be significant. Without a will or an estate plan, the assets (after paying off debts, if any) of the deceased are divided according to the decision of a probate court. The probate process can be time-consuming and may take as long as two years before the court arrives at a decision on how the property will be distributed. During the process, the assets in question are typically "frozen."
How Agents Can Succeed In Estate Planning
Source: Insurance News Net
The consequence of the lack of preparedness could be significant. Without a will or an estate plan, the assets (after paying off debts, if any) of the deceased are divided according to the decision of a probate court. The probate process can be time-consuming and may take as long as two years before the court arrives at a decision on how the property will be distributed. During the process, the assets in question are typically "frozen."
How Agents Can Succeed In Estate Planning
Source: Insurance News Net
Permalink posted by armandn @ 8:33 AM
Fall: Time for Harvesting the Fruits of Relationships
Fall brings to mind images of falling leaves, crisp apple cider, carved pumpkins, and the harvesting of crops planted. It’s also a time when brokers are returning from their summer vacations and ready to get a fresh start on their busy work months ahead. This is a great time for financial professionals to survey the landscape within their office, and take a hard look at how to take their client relationships to the next level.
Fall: Time for Harvesting the Fruits of Relationships
Source: Life Insurance Selling
Fall: Time for Harvesting the Fruits of Relationships
Source: Life Insurance Selling
Permalink posted by armandn @ 8:32 AM
Six Critical Retirement Missteps
When it comes to making crucial decisions about retirement payouts, you don't get do-overs. Instead of checking off boxes and signing forms before rushing off to your retirement party, take time to weigh your options. Making mistakes "can be a very expensive learning curve," says Mark Cortazzo, head of Macro Consulting Group, in Parsippany, N.J. Avoiding them can save you thousands of dollars in taxes.
Six Critical Retirement Missteps
Source: Yahoo! Finance
Six Critical Retirement Missteps
Source: Yahoo! Finance
Permalink posted by armandn @ 8:30 AM
Tuesday, November 20, 2007
AXA Equitable's New Ads Designed to Deliver Message Silently
AXA Equitable Life Insurance Company is premiering four new commercials targeted at registered investment advisors and Americans nearing retirement. Set to air on business news cable channels, the ads are designed to deliver their message even without sound. Featuring the company's recognizable 800-pound gorilla, the current marketing campaign also has integrated print and online components.
AXA Equitable's New Ads Designed to Deliver Message Silently
Source: Yahoo! Finance
AXA Equitable's New Ads Designed to Deliver Message Silently
Source: Yahoo! Finance
Permalink posted by armandn @ 5:25 AM
Blue Bell PA insurance industry firm sold
Health plan underwriter Montgomery Management Corp. has been sold for an undisclosed price. The Blue Bell, Pa.-based company will retain its name and continue to operate independently with its core management team in place, according to new owner Companion Life Insurance Co. of Columbia, S.C.
Companion bought Montgomery Management, a managing general underwriter of stop-loss coverage for employer health plans, from HealthPlan Holdings Inc. of Tampa, Fla...
BizJournals (Philadelphia): Blue Bell insurance industry firm sold
Companion bought Montgomery Management, a managing general underwriter of stop-loss coverage for employer health plans, from HealthPlan Holdings Inc. of Tampa, Fla...
BizJournals (Philadelphia): Blue Bell insurance industry firm sold
Permalink posted by markw @ 4:40 AM
Bermudez to Be Citigroup Risk Officer
Citigroup Inc., reeling from recent mortgage-related losses that resulted in the departure of its chief executive, named Jorge A. Bermudez as chief risk officer, effective immediately.
Mr. Bermudez succeeds risk chief Dave Bushnell, a 22-year company veteran who will retire Dec. 31. Mr. Bushnell will continue to advise Citigroup after that date as a consultant...
WSJ: Bermudez to Be Citigroup Risk Officer
Mr. Bermudez succeeds risk chief Dave Bushnell, a 22-year company veteran who will retire Dec. 31. Mr. Bushnell will continue to advise Citigroup after that date as a consultant...
WSJ: Bermudez to Be Citigroup Risk Officer
Permalink posted by markw @ 4:38 AM
ING plans to double Latin American operations
Dutch financial services group ING Groep NV plans to double the assets it manages in Latin America to more than $100 billion in the coming years, one of the company's directors said.
ING announced the purchase of Argentine pension and annuity operations last week, and the group is eager to strengthen its position and become the industry leader in a region where economies have grown quickly in recent years...
Reuters: ING plans to double Latin American operations
ING announced the purchase of Argentine pension and annuity operations last week, and the group is eager to strengthen its position and become the industry leader in a region where economies have grown quickly in recent years...
Reuters: ING plans to double Latin American operations
Permalink posted by markw @ 4:36 AM
Blue Frog Solutions Patents New Process for Generating Composite Product Profiles for Financial Products
Blue Frog Solutions, a leading provider of Life & Annuity Solutions for Order Management, Compliance, and straight-through-processing has announced that it has patented a new method and system for creating a composite financial product profile from information received from both a Manufacturer/Carrier and a Distributor.
The method comprises receiving profile information for a financial product from a Manufacturer/Carrier, comparing a second product profile received from a Distributor and dynamically amalgamating them into a single, composite product profile. The composite product profile, which can be provided in any data model or format, can then be used for an order entry or any other system...
PR News Wire: Blue Frog Solutions Patents New Process for Generating Composite Product Profiles for Financial Products
The method comprises receiving profile information for a financial product from a Manufacturer/Carrier, comparing a second product profile received from a Distributor and dynamically amalgamating them into a single, composite product profile. The composite product profile, which can be provided in any data model or format, can then be used for an order entry or any other system...
PR News Wire: Blue Frog Solutions Patents New Process for Generating Composite Product Profiles for Financial Products
Permalink posted by markw @ 4:33 AM
Longevity Insurance: OK If You Live Long Enough
Outliving one’s retirement savings is a financial nightmare that haunts many retirees. That’s why a handful of insurers have recently introduced a new type of annuity that caters specifically to that fear.
It's basically insurance that pays you for living a long life. It’s called “longevity insurance,” and like an annuity, it pays you income for life, but only if and when you make it to a certain age...
Consumer Affairs: Longevity Insurance: OK If You Live Long Enough
It's basically insurance that pays you for living a long life. It’s called “longevity insurance,” and like an annuity, it pays you income for life, but only if and when you make it to a certain age...
Consumer Affairs: Longevity Insurance: OK If You Live Long Enough
Permalink posted by markw @ 4:28 AM
Monday, November 19, 2007
Old Folks, Smart Money
Come retirement, most of us will be faced with two important decisions: what to do with our 401(k) or IRA money and how best to spend an abundance of free time. Some dream of adventurous vacations or beachside villas, others want to devote their days to a favorite charity. Some, no doubt, will while away hours on the golf course. However, for a growing number weaned on CNBC, E*Trade and buoyant bull markets, retirement will mean a chance to finally pursue a “second career,” actively managing their own money.
Old Folks, Smart Money
Source: Forbes/Yahoo! Finance
Old Folks, Smart Money
Source: Forbes/Yahoo! Finance
Permalink posted by armandn @ 6:12 PM
Having Trouble Selling Universal Life? Try a New Market Strategy
A market strategy is all about finding, developing and generating profits from opportunities. Significantly improving existing products and services can help create market prospects, and new tweaks and options have been known to revive flagging sales.
Whenever there is an existing demand for a non-existing product or service or when customer demand is greater than available supply, market opportunities exist for those who can move in and satisfy that demand.
Having Trouble Selling Universal Life? Try a New Market Strategy
Source: Insurance News Net
Whenever there is an existing demand for a non-existing product or service or when customer demand is greater than available supply, market opportunities exist for those who can move in and satisfy that demand.
Having Trouble Selling Universal Life? Try a New Market Strategy
Source: Insurance News Net
Permalink posted by armandn @ 6:10 PM
Banks Target Customers' Retirement $
Banks are starting to make a heavy push to fight for retirement assets after lagging investment firms for years. In the past, banks haven't focused on retirement assets, satisfied to attract deposits, sell home equity loans and offer certificates of deposit.
That strategy, however, is no longer good enough: Deposit bases are shrinking, and the strategy to bolster business is to pursue retirement accounts of current customers. "Banks have a huge customer base that they haven't tapped into yet" for that market, said Teresa Epperson, a partner at Mercatus LLC, a Boston-based consulting firm.
Banks Target Customers' Retirement $
Source: Investment News (subscription required)
That strategy, however, is no longer good enough: Deposit bases are shrinking, and the strategy to bolster business is to pursue retirement accounts of current customers. "Banks have a huge customer base that they haven't tapped into yet" for that market, said Teresa Epperson, a partner at Mercatus LLC, a Boston-based consulting firm.
Banks Target Customers' Retirement $
Source: Investment News (subscription required)
Permalink posted by armandn @ 6:07 PM
Investment Advisers Warn Against Free-Lunch Seminars
Free seminars aren’t necessarily all bad, nor is free information, but investors should think twice if somebody is offering a free meal too.
The Securities and Exchange Commission has issued alerts, and other industry groups are trying to raise awareness, that too often these seminars are in actuality sales presentations for inappropriate investments.
Investment Advisers Warn Against Free-Lunch Seminars
Source: Business Journals
The Securities and Exchange Commission has issued alerts, and other industry groups are trying to raise awareness, that too often these seminars are in actuality sales presentations for inappropriate investments.
Investment Advisers Warn Against Free-Lunch Seminars
Source: Business Journals
Permalink posted by armandn @ 6:06 PM
Friday, November 16, 2007
Exploring the Direct-to-Consumer
This article continues to explore the evolving landscape of underwriting in the 21st century. Some of the themes that have already been covered include: overcoming barriers between underwriting and distribution, maximizing the value of an APS, the growth of remote underwriting and risk factors associated with private aviation. Another area worth exploring is the growth of direct-to-consumer distribution channels and its intersection with underwriting. For this article, we took a look at the various means by which carriers and producers are reaching the consumer through mediums such as the Internet, broadcast and print advertising, direct mail and the use of contact centers to directly engage prospective insureds on a mass scale via the telephone.
Exploring the Direct-to-Consumer Channel
Source: Producers Web
Exploring the Direct-to-Consumer Channel
Source: Producers Web
Permalink posted by armandn @ 7:39 AM
FINRA: New Study Shows Overwhelmingly Positive Employee Endorsement of Automatic Enrollment in 401(k) Plans
A new study of employer-sponsored retirement plans shows that employees are nearly unanimous in their support of being automatically enrolled in their companies' 401(k) plans.
FINRA: New Study Shows Overwhelmingly Positive Employee Endorsement of Automatic Enrollment in 401(k) Plans
Source: Insurance News Net
FINRA: New Study Shows Overwhelmingly Positive Employee Endorsement of Automatic Enrollment in 401(k) Plans
Source: Insurance News Net
Permalink posted by armandn @ 7:38 AM
Thursday, November 15, 2007
Insure.com: Life Insurance Prices Drop to All-Time Lows - Again
Insure.com has today released the results of an extensive life insurance price comparison survey showing that term life insurance premiums have once again dropped to all-time lows.
Insure.com: Life Insurance Prices Drop to All-Time Lows - Again
Source: CNN/Money
Insure.com: Life Insurance Prices Drop to All-Time Lows - Again
Source: CNN/Money
Permalink posted by armandn @ 7:34 AM
Workers on Four Continents Cite Top Financial Concerns as "Enough Money to Live On" and Sudden Income Loss, a MetLife International Study Finds
No matter where they call home, employees’ financial concerns appear to be universal. A MetLife study released today reveals that having enough money to live on and paying bills after a sudden income loss rank among workers’ top financial concerns, according to employees surveyed in the United States, India, Mexico, Australia and the United Kingdom. For employees surveyed in the U.S., India and Mexico health insurance was also among the top three financial concerns.
Workers on Four Continents Cite Top Financial Concerns as "Enough Money to Live On" and Sudden Income Loss, a MetLife International Study Finds
Source: Yahoo! Finance
Workers on Four Continents Cite Top Financial Concerns as "Enough Money to Live On" and Sudden Income Loss, a MetLife International Study Finds
Source: Yahoo! Finance
Permalink posted by armandn @ 7:31 AM
AIG VALIC Introduces Independent Investment Advisory Services into K-12 403(b) Market
AIG VALIC, a national leader in retirement plan services for both non-profit and for-profit education, healthcare and government organizations, today announced that it has entered into an agreement with Ibbotson Associates, a registered investment advisor and wholly owned subsidiary of Morningstar, Inc., to launch a new 403(b) product enhancement for the K-12 education market. Ibbotson will create and monitor a list of investment options derived from the offerings available in VALIC’s Portfolio Director variable annuity. This service provides plan sponsors with independent, third-party expertise from Ibbotson in the selection and oversight of their plans' investment choices.
AIG VALIC Introduces Independent Investment Advisory Services into K-12 403(b) Market
Source: Business Wire
AIG VALIC Introduces Independent Investment Advisory Services into K-12 403(b) Market
Source: Business Wire
Permalink posted by armandn @ 6:52 AM
Wednesday, November 14, 2007
Are Indexed Universal Life Products Stealing Thunder from Variable Universal Life?
At the rate they are growing some experts predict newer indexed universal life (IUL) products may eventually outdistance the variable universal life (VUL) market, which is currently about $2 billion yearly. Annual sales of IULs have been growing at by least 33% while yearly sales of VUL have suffered by more than 11% since 2000.
Are Indexed Universal Life Products Stealing Thunder from Variable Universal Life?
Source: Insurance News Net
Are Indexed Universal Life Products Stealing Thunder from Variable Universal Life?
Source: Insurance News Net
Permalink posted by armandn @ 12:29 PM
Prudential Financial Reprices Its Survivorship Universal Life Insurance Product
Prudential Financial, Inc. announced today the repricing of its survivorship universal life insurance product, PruLife SUL Protector, which is now more competitive in the marketplace, particularly for consumers who are in need of flexible premium, second-to-die life insurance protection.
“We updated this product with a focus on providing our customers with a survivorship policy that is competitive and provides lifetime protection, lifetime guarantees and flexible premiums,” said Mark Hug, chief marketing officer for Prudential’s Individual Life Insurance business. “In addition, improved underwriting experience has resulted in more competitive rates in certain situations.”
Prudential Financial Reprices Its Survivorship Universal Life Insurance Product
Source: Yahoo! Finance
“We updated this product with a focus on providing our customers with a survivorship policy that is competitive and provides lifetime protection, lifetime guarantees and flexible premiums,” said Mark Hug, chief marketing officer for Prudential’s Individual Life Insurance business. “In addition, improved underwriting experience has resulted in more competitive rates in certain situations.”
Prudential Financial Reprices Its Survivorship Universal Life Insurance Product
Source: Yahoo! Finance
Permalink posted by armandn @ 12:27 PM
Searching for the Silver Bullet, a New Study from the MetLife Mature Market Institute. Provides Innovative Aging Workforce Strategies for Employers
One of the most anticipated workplace trends of the 21st Century is the huge retirement wave that will hit most industrialized countries, including the United States, in the next few years. But surveys consistently report that most companies are unprepared to respond to the seismic shifts that are expected to appear in the workforce.
Searching for the Silver Bullet: Leading Edge Solutions for Leveraging an Aging Workforce, the latest study from the MetLife Mature Market Institute, which was developed in collaboration with David DeLong & Associates, explores what proactive organizations are doing to creatively meet the challenges posed by an aging workforce. The study includes in-depth case studies about four companies that have successfully implemented programs to address the changing workforce demographics: Boston Scientific, First Horizon Corporation, The Aerospace Corporation and Weyerhaeuser.
Searching for the Silver Bullet, a New Study from the MetLife Mature Market Institute. Provides Innovative Aging Workforce Strategies for Employers
Source: Business Wire
Searching for the Silver Bullet: Leading Edge Solutions for Leveraging an Aging Workforce, the latest study from the MetLife Mature Market Institute, which was developed in collaboration with David DeLong & Associates, explores what proactive organizations are doing to creatively meet the challenges posed by an aging workforce. The study includes in-depth case studies about four companies that have successfully implemented programs to address the changing workforce demographics: Boston Scientific, First Horizon Corporation, The Aerospace Corporation and Weyerhaeuser.
Searching for the Silver Bullet, a New Study from the MetLife Mature Market Institute. Provides Innovative Aging Workforce Strategies for Employers
Source: Business Wire
Permalink posted by armandn @ 12:26 PM
Tuesday, November 13, 2007
ING Lowers Term Life Insurance Rates, Again
In its effort to be a leading contender in the ultra-competitive term life insurance market, ING said today that it has again lowered premiums in most issue ages and underwriting classes for its ING TermSmart term life insurance products offered through its life insurance companies.
ING Lowers Term Life Insurance Rates, Again
Source: PR Newswire
ING Lowers Term Life Insurance Rates, Again
Source: PR Newswire
Permalink posted by armandn @ 7:57 AM
New Distributions Calculator from Pacific Life
Pacific Life Insurance Company has launched an online calculator designed to illustrate beneficiary distribution options from variable annuity contracts that are not used to fund qualified plans or IRAs. The calculator is located at PacificLife.com, in the financial professional section of the Web site, and the output may be given to clients to help make distribution choices.
New Distributions Calculator from Pacific Life
Source: Business Wire
New Distributions Calculator from Pacific Life
Source: Business Wire
Permalink posted by armandn @ 7:56 AM
CSC Delivers Product Configuration Software to Three of Top 20 U.S. Life and Annuity Insurers
Computer Sciences Corporation today announced the initial release of Product Accelerator, CSC's advanced configuration software for rapid life insurance and annuity product introduction. The software has been delivered to three of the top 20 U.S. life and annuity insurers, who participated in the product's Early Adopter program, and is now available for general delivery to all licensees.
Source: PR Newswire
CSC Delivers Product Configuration Software to Three of Top 20 U.S. Life and Annuity Insurers
Source: PR Newswire
CSC Delivers Product Configuration Software to Three of Top 20 U.S. Life and Annuity Insurers
Permalink posted by armandn @ 7:56 AM
John Hancock Adds Two New American Funds Options to Variable Annuity Investment Platform
John Hancock Annuities today announced the addition of two new fund-of-funds options to its Venture Variable Annuities investment platform: American Fundamental Holdings and American Global Diversification. Both funds are part of the John Hancock Trust and primarily invest in underlying American Funds portfolios.
John Hancock Adds Two New American Funds Options to Variable Annuity Investment Platform
Source: Yahoo! Finance
John Hancock Adds Two New American Funds Options to Variable Annuity Investment Platform
Source: Yahoo! Finance
Permalink posted by armandn @ 7:55 AM
Monday, November 12, 2007
Protecting Your Nest Egg in a Recession
While the experts were debating whether the country really was in a recession -- and if so, when it would bottom out and when the recovery would start -- your portfolio was probably losing value.
It's rotten enough to see your nest egg decimated when you have 10, 20 or more years for it to recover.
But millions of Americans on the cusp of retirement experienced the devastating effect of a recession on their portfolios just prior to, or shortly into, their retirements...
Yahoo Finance: Protecting Your Nest Egg in a Recession
It's rotten enough to see your nest egg decimated when you have 10, 20 or more years for it to recover.
But millions of Americans on the cusp of retirement experienced the devastating effect of a recession on their portfolios just prior to, or shortly into, their retirements...
Yahoo Finance: Protecting Your Nest Egg in a Recession
Permalink posted by markw @ 12:17 PM
MassMutual Study: Including Fixed Income Annuity in a Retirement Income Portfolio May Increase Long-Term Wealth as Well as Retirement Income Security
Incorporating a fixed income annuity in a retirement income account yielded greater long-term wealth for an investor -- along with more income security -- than a portfolio of equity and bond investments alone, even in an "up" market, according to a study released today by MassMutual Financial Group.
MassMutual Study: Including Fixed Income Annuity in a Retirement Income Portfolio May Increase Long-Term Wealth as Well as Retirement Income Security
Source: Earth Times
MassMutual Study: Including Fixed Income Annuity in a Retirement Income Portfolio May Increase Long-Term Wealth as Well as Retirement Income Security
Source: Earth Times
Permalink posted by armandn @ 11:57 AM
Towers Perrin Survey Shows Improved Preparedness for Principles-Based Regulation and Increased Use of Market- Consistent Reporting
CFOs report far greater understanding of principles-based regulation than they did in 2006 and are making notable progress in preparing for the new regulation, according to the latest survey of Life Insurance CFOs by the Tillinghast insurance consulting practice of Towers Perrin.
While only 8% of CFOs surveyed consider themselves very knowledgeable about principles-based regulation, all of the rest understand at least the basics. Furthermore, 42% say that planning is well under way, and 12% have either largely implemented or are establishing a structure for migrating from a formula-based approach for reserves and capital to a principles-based approach. By contrast, last year’s survey found that nearly half of respondents (44%) knew very little or were not at all familiar with the regulations, and only 17% had any planning under way.
Towers Perrin Survey Shows Improved Preparedness for Principles-Based Regulation and Increased Use of Market-Consistent Reporting
Source: Business Wire
While only 8% of CFOs surveyed consider themselves very knowledgeable about principles-based regulation, all of the rest understand at least the basics. Furthermore, 42% say that planning is well under way, and 12% have either largely implemented or are establishing a structure for migrating from a formula-based approach for reserves and capital to a principles-based approach. By contrast, last year’s survey found that nearly half of respondents (44%) knew very little or were not at all familiar with the regulations, and only 17% had any planning under way.
Towers Perrin Survey Shows Improved Preparedness for Principles-Based Regulation and Increased Use of Market-Consistent Reporting
Source: Business Wire
Permalink posted by armandn @ 11:56 AM
Conning Research Projects Increased Operating Gains and Continued Surplus Growth for the Life Insurance Industry Through 2009
Research and Consulting has released its latest forecast for the life-health insurance industry. This edition forecasts the life-health industry financial results for 2007 through 2009.
"Analysis of 2006 results for the life insurance industry shows statutory net operating gains of $27.4 billion, down $5.4 billion from the record 2005 results. Separately, our GAAP estimate for 2006 results indicates net operating income of $61.4 billion," said Stephan Christiansen, director of research at Conning Research & Consulting. "We forecast statutory net operating gain increases for the period 2007 through 2009, despite the single- year drop in 2006, as individual life sales improve and group annuities stabilize."
Conning Research Projects Increased Operating Gains and Continued Surplus Growth for the Life Insurance Industry Through 2009
Source: Insurance News Net
"Analysis of 2006 results for the life insurance industry shows statutory net operating gains of $27.4 billion, down $5.4 billion from the record 2005 results. Separately, our GAAP estimate for 2006 results indicates net operating income of $61.4 billion," said Stephan Christiansen, director of research at Conning Research & Consulting. "We forecast statutory net operating gain increases for the period 2007 through 2009, despite the single- year drop in 2006, as individual life sales improve and group annuities stabilize."
Conning Research Projects Increased Operating Gains and Continued Surplus Growth for the Life Insurance Industry Through 2009
Source: Insurance News Net
Permalink posted by armandn @ 11:54 AM
Attracting and Retaining Top-Notch Gen Y Talent with Specialty Benefits
As 77 million baby boomers (born between 1946 and 1964) approach retirement, only 46 million of Generation X (born 1961 to 1981) are available to replace them. Not only is Gen X a much smaller group than the boomers, but many Gen Xers already have moved into C-suite positions or pursued avenues of permanent self-employment. As a result, the corporate world is facing a serious “talent famine” in the near future. To counteract this, major corporations and many smaller employers will have to depend on the 76-million-strong Generation Y (born 1978 to 2000) to fill the gap.
Attracting and Retaining Top-Notch Gen Y Talent with Specialty Benefits
Source: Life Insurance Selling
Attracting and Retaining Top-Notch Gen Y Talent with Specialty Benefits
Source: Life Insurance Selling
Permalink posted by armandn @ 11:53 AM
Friday, November 09, 2007
Lincoln Financial Group Launches Enhanced Web Site to Help You Bring Your Futureself to Life
Lincoln Financial Group recently launched a newly redesigned consumer website, www.LincolnFinancial.com, offering numerous enhancements to create an interactive, personal experience to showcase the depth of the company's retirement solutions for consumers. The refreshed site connects to the company's new futureself branding campaign, which is changing the conversation in financial services by recognizing that no one knows what you want for your financial future better than you ... your futureself.
Lincoln Financial Group Launches Enhanced Web Site to Help You Bring Your Futureself to Life
Source: Yahoo! Finance
Lincoln Financial Group Launches Enhanced Web Site to Help You Bring Your Futureself to Life
Source: Yahoo! Finance
Permalink posted by armandn @ 7:05 AM
John Hancock Annuities Announces New Distribution Partnership with Edward Jones
John Hancock Annuities today announced a new distribution partnership with Edward Jones, the retail brokerage firm with more than 10,000 advisors and seven million clients across the United States. As a result, John Hancock annuity products are expected to become available for distribution within the Edward Jones system in early 2008. Edward Jones was one of the few national broker/dealers which had previously not offered John Hancock annuities.
John Hancock Annuities Announces New Distribution Partnership with Edward Jones
Source: PR Newswire
John Hancock Annuities Announces New Distribution Partnership with Edward Jones
Source: PR Newswire
Permalink posted by armandn @ 7:03 AM
Everything Old Is New Again
National Life Insurance Company, a member of National Life Group, has introduced a new universal life product, NaviStar, to an already robust product portfolio. With this newest addition, National Life Group is offering more options and flexibility to help meet its clients’ needs, in particular, family protection, business planning, and wealth transfer.
Everything Old Is New Again
Source: Life Insurance Selling
Everything Old Is New Again
Source: Life Insurance Selling
Permalink posted by armandn @ 7:02 AM
National Life Insurance Company Unveils New Universal Life Product
National Life Insurance Company, a member of National Life Group, has introduced a new universal life product, NaviStar, to an already robust product portfolio. With this newest addition, National Life Group is offering more options and flexibility to help meet its clients’ needs, in particular, family protection, business planning, and wealth transfer.
NaviStar Universal Life is a flexible premium, flexible death benefit contract that can be customized through optional riders to meet a wide variety of insurance needs. This product may also be an alternative to No Lapse Guarantee products offering similar premium levels with the added benefit of premium flexibility.
National Life Insurance Company Unveils New Universal Life Product
Source: Insurance News Net
NaviStar Universal Life is a flexible premium, flexible death benefit contract that can be customized through optional riders to meet a wide variety of insurance needs. This product may also be an alternative to No Lapse Guarantee products offering similar premium levels with the added benefit of premium flexibility.
National Life Insurance Company Unveils New Universal Life Product
Source: Insurance News Net
Permalink posted by armandn @ 7:01 AM
Thursday, November 08, 2007
Retirement Outlook Not As Bleak as Many Think
Most retirement gurus are extremely pessimistic about the future. Some are modestly hopeful. But there is one who is "wildly optimistic" about what's in store for the millions upon millions of aging baby boomers. Meet Joseph Coughlin, Ph.D., director of the Massachusetts Institute of Technology's AgeLab.
Retirement Outlook Not As Bleak as Many Think
Source: CBS MarketWatch
Retirement Outlook Not As Bleak as Many Think
Source: CBS MarketWatch
Permalink posted by armandn @ 12:54 PM
Estate Tax Help Could Be on the Way
A bill pending in Congress could create a significant estate-planning opportunity for family members other than spouses.
Currently, someone other than a spouse who is the beneficiary of a retirement plan must distribute inherited assets on a payout schedule that is set by the plan administrator. Typically the time period is five years or less, and taxes must be paid within that timeframe.
Estate Tax Help Could Be on the Way
Source: Insurance News Net
Currently, someone other than a spouse who is the beneficiary of a retirement plan must distribute inherited assets on a payout schedule that is set by the plan administrator. Typically the time period is five years or less, and taxes must be paid within that timeframe.
Estate Tax Help Could Be on the Way
Source: Insurance News Net
Permalink posted by armandn @ 12:51 PM
What's Going On: There's Life in Captivity
Why in the world would a young man earn a degree from a premier business school, plus an MBA from another esteemed college, and then become a rookie career financial representative with Northwestern Mutual Life?
That’s one obvious question David Fain, the aforementioned agent, was not asked during his presentation on “The Art and Science of Client Building,” at the National Underwriter Sales Mastery Forum Sept. 26-28 in Las Vegas. So I posed the question to David afterwards. His answer revealed trigger points for choosing an insurance career despite all the education that can prepare a person for a bigger splash in the business world.
What's Going On: There's Life in Captivity
Source: Life Insurance Selling
That’s one obvious question David Fain, the aforementioned agent, was not asked during his presentation on “The Art and Science of Client Building,” at the National Underwriter Sales Mastery Forum Sept. 26-28 in Las Vegas. So I posed the question to David afterwards. His answer revealed trigger points for choosing an insurance career despite all the education that can prepare a person for a bigger splash in the business world.
What's Going On: There's Life in Captivity
Source: Life Insurance Selling
Permalink posted by armandn @ 12:48 PM
Vermont Insurer Rolls Out UL Product
National Life Insurance Company has introduced the NaviStar universal life insurance policy.
The policy comes with an extensive menu of optional riders and can be an alternative to no-lapse guarantee products, according to National Life, Montpelier, Vt., a unit of National Life Holding Company.
Vermont Insurer Rolls Out UL Product
Source: National Underwriter (subscription required)
The policy comes with an extensive menu of optional riders and can be an alternative to no-lapse guarantee products, according to National Life, Montpelier, Vt., a unit of National Life Holding Company.
Vermont Insurer Rolls Out UL Product
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 12:47 PM
Wednesday, November 07, 2007
Hartford Frustrated in Bid to Acquire
Hartford Financial Services Group Inc, the fourth-largest U.S. insurer by assets, would like to acquire companies in North America but is finding it hard to identify willing sellers.
Hartford's chief executive Ramani Ayer told the Reuters Finance Summit in New York on Monday that his firm is keen to buy in several product areas including the 401(k) retirement and group benefit sectors.
Ayer said Hartford and other big insurers are keen to buy, but smaller
Hartford Frustrated in Bid to Acquire
Source: Reuters
Hartford's chief executive Ramani Ayer told the Reuters Finance Summit in New York on Monday that his firm is keen to buy in several product areas including the 401(k) retirement and group benefit sectors.
Ayer said Hartford and other big insurers are keen to buy, but smaller
Hartford Frustrated in Bid to Acquire
Source: Reuters
Permalink posted by armandn @ 12:05 PM
Life Insurers' Investment Income at Risk
FOLLOWING THIRD-QUARTER 2007 results for most U.S. life insurers, we have identified key trends, with the most substantial one being the decline in net investment income (NII) experienced by a number of companies, due to lower alternative returns. Given that many companies' portfolio yields are likely to remain more volatile over the near term, we think the relative importance of NII to earnings for each company is becoming a more meaningful distinction.
Life Insurers' Investment Income at Risk
Source: Barron's
Life Insurers' Investment Income at Risk
Source: Barron's
Permalink posted by armandn @ 12:04 PM
Boomers Think They Have Long-Term Coverage
Most U.S. baby boomers surveyed said they believed that Medicare or "other health insurance" will pay for their long-term care but are wrong.
The survey of 2,000 U.S. baby boomers ages 45 to 61, by StrategyOne for America’s Health Insurance Plans, found 54 percent of baby boomers said they think Medicare will pay for long-term care services, while 44 percent said they believe "other health insurance" will pay.
Boomers Think They Have Long-Term Coverage
Source: United Press International
The survey of 2,000 U.S. baby boomers ages 45 to 61, by StrategyOne for America’s Health Insurance Plans, found 54 percent of baby boomers said they think Medicare will pay for long-term care services, while 44 percent said they believe "other health insurance" will pay.
Boomers Think They Have Long-Term Coverage
Source: United Press International
Permalink posted by armandn @ 12:01 PM
Prudential's Individual Life Marketing Materials Earn IFCA Recognition
Prudential Financial, Inc. announced today that its Individual Life Insurance marketing materials garnered three Awards of Excellence at the recent 2007 communicators competition sponsored by the Insurance and Financial Communicators Association. The three winning campaigns included a life insurance print, radio and TV ad series entitled "I Love You This Much," a marketing kit used to introduce Pruco Life's new Return of Premium Term product entitled "Term Wars" and a brochure designed to assist small business owners entitled "Helping to Protect the Future of Your Business."
Prudential's Individual Life Marketing Materials Earn IFCA Recognition
Source: Insurance News Net
Prudential's Individual Life Marketing Materials Earn IFCA Recognition
Source: Insurance News Net
Permalink posted by armandn @ 11:56 AM
Tuesday, November 06, 2007
Protective Life Introduces New Universal Life Product Plus Policy Review and Analysis Program
Protective Life Insurance Company today announced a significant addition to its universal life insurance portfolio. The new product, Protective ProValue ULSM, is designed to help consumers meet their long-term needs for life insurance protection and cash accumulation.
Protective Life Introduces New Universal Life Product Plus Policy Review and Analysis Program
Source: Business Wire
Protective Life Introduces New Universal Life Product Plus Policy Review and Analysis Program
Source: Business Wire
Permalink posted by armandn @ 12:37 PM
Foresters Continues to Expand U.S. Sales Channels
A partnership with Imiriti, Inc. provides greater access to Foresters products Toronto, Canada, November 5, 2007 – Foresters, a leading fraternal benefit society, is continuing to expand its independent distribution channels with the addition of another leading national marketing organization, Imeriti, Inc., to offer Americans innovative life insurance products. Imeriti, Inc. will sell Foresters Lifefirst(1) level term life insurance and Forester Passport(2) universal life insurance products.
Foresters Continues to Expand U.S. Sales Channels
Source: Insurance News Net
Foresters Continues to Expand U.S. Sales Channels
Source: Insurance News Net
Permalink posted by armandn @ 12:35 PM
SBLI USA Mutual Life Insurance Company Empowers Female Community
SBLI USA Mutual Life Insurance Company is consistently working to help educate and inform women about the importance of financial planning and security. SBLI USA’s Annual Women’s Financial Empowerment Seminar is part of this effort. President and CEO Vikki Pryor hosted the third annual seminar on Thursday, October 25 at the Sheraton Hotel and Towers in New York, NY.
SBLI USA Mutual Life Insurance Company Empowers Female Community
Source: PR Web
SBLI USA Mutual Life Insurance Company Empowers Female Community
Source: PR Web
Permalink posted by armandn @ 12:34 PM
Annuities Not For All
The state Department of Insurance offers these tips when buying an annuity:
--Never sign anything you do not fully understand.
--Be sure you completely understand all the limitations: How long before you can begin receiving payments? What are the penalties for taking money out early? What are all the additional fees and charges? What are tax implications for you and your heirs?
Annuities Not For All
Source: Insurance News Net
--Never sign anything you do not fully understand.
--Be sure you completely understand all the limitations: How long before you can begin receiving payments? What are the penalties for taking money out early? What are all the additional fees and charges? What are tax implications for you and your heirs?
Annuities Not For All
Source: Insurance News Net
Permalink posted by armandn @ 12:33 PM
Recent Poll Shows Voters Want Long-Term Care Included in Presidential Candidates' Healthcare Proposals
To focus attention on the growing impact long term care has on American families, the U.S. House of Representatives has for the first time issued a resolution proclaiming its support for national Long Term Care Awareness Week (Nov. 4 - 10).
Genworth Financial -- one of the nation's leading providers of individual long term care insurance* -- is among several long term care insurers actively participating in this industry-wide awareness campaign. During its annual LTC symposium held last month, Genworth Financial released the results of a new poll examining how voters feel about long term care issues as they relate to the upcoming presidential election.
Recent Poll Shows Voters Want Long Term Care Included in Presidential Candidates' Healthcare Proposals
Source: Yahoo! Finance
Genworth Financial -- one of the nation's leading providers of individual long term care insurance* -- is among several long term care insurers actively participating in this industry-wide awareness campaign. During its annual LTC symposium held last month, Genworth Financial released the results of a new poll examining how voters feel about long term care issues as they relate to the upcoming presidential election.
Recent Poll Shows Voters Want Long Term Care Included in Presidential Candidates' Healthcare Proposals
Source: Yahoo! Finance
Permalink posted by armandn @ 12:31 PM
Mutual Funds are for Losers
The front page of Yahoo Finance featured an interesting article today (sponsored by Fidelity no less!):
If Wall Street were a Hans Christian Anderson fairy tale, Phil Town would be the little boy pointing and laughing at the emperor's new clothes, or lack thereof.
By turns a Vietnam Green Beret, Grand Canyon river guide and spiritual seeker of enlightenment, Town's life on the fringes of society changed when he saved a raft from treacherous rapids on the Colorado River. One of the thankful survivors was a successful San Diego investor who, in turn, volunteered to save Town's financial future by teaching him the ropes of investing.
Blending Zen with Wall Street, Town's anyone-can-do-this advice, in his best-seller "Rule #1," amounts to: Don't lose money, find great companies, know their worth and acquire them at 50 percent off. Beyond that, he says the traditional advice -- invest in mutual funds, diversify, buy and hold -- is strictly for losers...
Yahoo Finance (Bankrate.com): Mutual Funds are for Losers
If Wall Street were a Hans Christian Anderson fairy tale, Phil Town would be the little boy pointing and laughing at the emperor's new clothes, or lack thereof.By turns a Vietnam Green Beret, Grand Canyon river guide and spiritual seeker of enlightenment, Town's life on the fringes of society changed when he saved a raft from treacherous rapids on the Colorado River. One of the thankful survivors was a successful San Diego investor who, in turn, volunteered to save Town's financial future by teaching him the ropes of investing.
Blending Zen with Wall Street, Town's anyone-can-do-this advice, in his best-seller "Rule #1," amounts to: Don't lose money, find great companies, know their worth and acquire them at 50 percent off. Beyond that, he says the traditional advice -- invest in mutual funds, diversify, buy and hold -- is strictly for losers...
Yahoo Finance (Bankrate.com): Mutual Funds are for Losers
Permalink posted by markw @ 6:58 AM
Monday, November 05, 2007
Retirement Web Sites Missing the Mark
Websites of financial services companies offering retirement information are often more frustrating than helpful to consumers, according to a study by a group of website researchers.
Retirement Web Sites Missing the Mark
Source: Insurance News Net
Retirement Web Sites Missing the Mark
Source: Insurance News Net
Permalink posted by armandn @ 10:43 PM
In Life/Health, Use of E-Apps Growing
Electronic application submissions have grown dramatically since 2004 but still account for less than half of all new life/health business, according to a new report from Celent, a Boston-based financial research and consulting firm .
In Life/Health, Use of E-Apps Growing
Source: Insurance Networking News
In Life/Health, Use of E-Apps Growing
Source: Insurance Networking News
Permalink posted by armandn @ 10:41 PM
Axa Equitable Makes it Easier to Stop Ignoring Life Insurance
To make the purchase of life insurance easier and more convenient, AXA Equitable introduced today in approved states a simplified issue underwriting process for its Return of Premium Term (ROP Term(SM)) life insurance on policy face amounts from $100,000 to $249,999.
Axa Equitable Makes it Easier to Stop Ignoring Life Insurance
Source: EarthTimes.org
Axa Equitable Makes it Easier to Stop Ignoring Life Insurance
Source: EarthTimes.org
Permalink posted by armandn @ 10:38 PM
Friday, November 02, 2007
Morningstar Expects Sun Life to Expand Presence Overseas
Sun Life Financial Inc.’s domestic business is the firm’s “crown jewel,” but its international operations are where the growth is, says Morningstar analyst Chris Blumas.
The life insurance giant’s profits for the first nine months of 2007 were up 8% compared to last year at $1.7-billion. Profits from domestic business lines grew 7%, while the insurer’s business outside Canada was up 20% on a Canadian dollar basis.
Morningstar Expects Sun Life to Expand Presence Overseas
Source: Seeking Alpha
The life insurance giant’s profits for the first nine months of 2007 were up 8% compared to last year at $1.7-billion. Profits from domestic business lines grew 7%, while the insurer’s business outside Canada was up 20% on a Canadian dollar basis.
Morningstar Expects Sun Life to Expand Presence Overseas
Source: Seeking Alpha
Permalink posted by armandn @ 1:00 PM
Bank Annuity Sales Surge in First Half of 2007
Sales of annuities in banks surged in the first half of the year, according to a report by a financial institution market watcher.
The most recent Kehrer-Jackson Bank Annuity Sales Survey shows bank annuity sales climbed 17% in May over the previous month, to $4.1 billion from $3.5 billion, and have soared 41% since January, when sales were $2.9 billion.
Bank Annuity Sales Surge in First Half of 2007
Source: Insurance News Net
The most recent Kehrer-Jackson Bank Annuity Sales Survey shows bank annuity sales climbed 17% in May over the previous month, to $4.1 billion from $3.5 billion, and have soared 41% since January, when sales were $2.9 billion.
Bank Annuity Sales Surge in First Half of 2007
Source: Insurance News Net
Permalink posted by armandn @ 1:00 PM
Operating Income at Phoenix Beats Street
The Phoenix Cos. Inc. boosted its bottom line 3.8 percent in the third quarter, while operating profit fell 9.3 percent amid a more volatile market and higher death claims.
The Hartford-based insurer and asset management company on Wednesday reported $35.6 million, or 31 cents a share, of net income for the quarter that ended Sept. 30.
Operating Income at Phoenix Beats Street
Source: Hartford Courant
The Hartford-based insurer and asset management company on Wednesday reported $35.6 million, or 31 cents a share, of net income for the quarter that ended Sept. 30.
Operating Income at Phoenix Beats Street
Source: Hartford Courant
Permalink posted by armandn @ 12:59 PM
Protective Life Introduces ProtectiveAccess XL Variable Annuity
Protective Life Insurance Company today announced the addition of a new variable annuity to their already expansive line of annuity products. The ProtectiveAccess XL variable annuity, an innovative new “C-share” contract, is available for sale beginning November 1, 2007, subject to state availability.
Protective Life Introduces ProtectiveAccess XL Variable Annuity
Source: Yahoo! Finance
Protective Life Introduces ProtectiveAccess XL Variable Annuity
Source: Yahoo! Finance
Permalink posted by armandn @ 12:58 PM
Thursday, November 01, 2007
MIB Life Index Reports North American Life Insurance Activity Off 1.1% in September
North American application activity for individually underwritten life insurance was down slightly in September, off -1.1% year-over-year according to the MIB Life Index(SM). Third quarter volume for U.S. and Canadian application activity was off -2.3% year-over-year, the smallest Q3 decline in the last three years. Year-to-date (YTD) application activity was off -3.1% versus the same period last year. Volume growth is consistent September to August however this month's +10.7% jump was the largest on record since 2002.
MIB Life Index Reports North American Life Insurance Activity Off 1.1% in September
Source: PR Newswire
MIB Life Index Reports North American Life Insurance Activity Off 1.1% in September
Source: PR Newswire
Permalink posted by armandn @ 10:41 AM
Conseco to Recapture Block of Traditional Life Policies
Conseco, Inc. , announced an agreement under which its Colonial Penn Life Insurance Company subsidiary ("Colonial Penn") will recapture a block of approximately $50 million of annualized traditional life insurance premium in force that had been ceded in 2002 to Reassure America Life Insurance Company ("REALIC"), an affiliate of Swiss Reinsurance Company.
Conseco to Recapture Block of Traditional Life Policies
Source: CNN/Money
Conseco to Recapture Block of Traditional Life Policies
Source: CNN/Money
Permalink posted by armandn @ 10:40 AM
Why Annuities Are Such a Tough Sell
Retirees are at more risk than ever of outliving their savings. People are living longer, and it's becoming harder to rely on either social security or traditional, defined-benefit pension plans as a safety net.
Annuities, insurance contracts that pay a guaranteed stream of income, can help. But they are a tough sell.
Why Annuities Are Such a Tough Sell
Source: TheStreet.com
Annuities, insurance contracts that pay a guaranteed stream of income, can help. But they are a tough sell.
Why Annuities Are Such a Tough Sell
Source: TheStreet.com
Permalink posted by armandn @ 10:39 AM
A Tale of Two Tables
It is the best of times and the worst of times for life insurance manufacturers. It's the best because through next year, they can choose to base their product design on either the 1980 or 2001 CSO (Commissioners Standard Ordinary) mortality tables, whichever works better with the product involved. It's the worst because as of Jan. 1, 2009, all new products have to be on the 2001 CSO table, and making the transition is a big and costly task.
A Tale of Two Tables
Source: A.M. Best (subscription required)
A Tale of Two Tables
Source: A.M. Best (subscription required)
Permalink posted by armandn @ 10:38 AM
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