Thursday, December 20, 2007

 

Prudential Launches 'MyTerm', Internet-Based Term Life Insurance

Prudential Financial, Inc. today introduced MyTermSM, a simplified issue term life insurance policy available through the Internet to customers of select banks and other financial institutions. Through a completely online and automated process that can be accessed from virtually anywhere, MyTermSM can deliver a policy in about 10 minutes to qualified customers that may then be saved electronically or printed locally.

Prudential Launches 'MyTerm', Internet-Based Term Life Insurance
Source: Yahoo! Finance

 

Working in Retirement?

With today’s longer life expectancies, fewer Americans can afford to rely on their personal savings for 20, 30, or more years in retirement. Whether they need money, simply enjoy working, or both, many Baby Boomers are finding the bright line between the working years and retirement years morphing into a continuum – a gradual progression from more work time to more leisure time – or alternating periods of work and leisure.

Working in Retirement?
Source: Business Wire

 

FINRA Steps Up Protection of Senior Investors with Major Regulatory Sweeps and Rules

The protection of senior investors and Baby Boomers approaching retirement is one of the Financial Industry Regulatory Authority’s (FINRA) priorities. As the number of people 65 years old or older is expected to increase starting 2010 and reaching to 72 million by 2030, FINRA has been stepping up its effort to guard this $16 trillion market from deceitful sales tactics.

FINRA Steps Up Protection of Senior Investors with Major Regulatory Sweeps and Rules
Source: Insurance News Net

 

The Hartford Agrees to Acquire the Alliance Business of Princeton Retirement Group

The Hartford Financial Services Group, Inc., one of the nation’s largest diversified financial services companies, has agreed to acquire the defined contribution recordkeeping alliance business of Atlanta, Georgia-based Princeton Retirement Group. This acquisition, when completed, will give The Hartford a foothold in the business of providing record keeping services to large financial firms which offer defined contribution plans to their clients. With the transaction, The Hartford adds an additional $7 billion in retirement plan assets across over 720 plans and approximately 170,000 plan participants.

The Hartford Agrees to Acquire the Alliance Business of Princeton Retirement Group
Source: Business Wire

Wednesday, December 19, 2007

 

Life Insurance Companies Facing Pressure to Enhance Financial Management Systems, Watson Wyatt Experts Say

Life insurance companies will be under growing pressure to enhance their financial management system capabilities as they face changing financial reporting requirements and more extensive risk management challenges in 2008, according to insurance actuarial and risk management experts at Watson Wyatt Worldwide, a leading global consulting firm.

Life Insurance Companies Facing Pressure to Enhance Financial Management Systems, Watson Wyatt Experts Say
Source: CNN/Money

 

Hartford Cuts Approval Time for Voluntary Life, Disability

The Hartford Financial Services Group Inc. says it has significantly cut the medical underwriting process for its voluntary group life and disability insurance benefits sold through employers.

Rather than taking days or weeks, getting an underwriting decision about coverage takes mere seconds with a new online evidence of insurability tool offered by Hartford, Simsbury, Conn.

Hartford Cuts Approval Time for Voluntary Life, Disability
Source: National Underwriter (subscription required)

 

The Emotional Cost of Having No Estate Plan

If you think only the children of the rich and famous squabble over inheritance, think again. Many otherwise placid middle-class families experience the tumultuous fallout caused by the lack of or poorly designed estate plans.

Incidents of ugly family feuds due to inheritance may even rise as economists say approximately $12 trillion – the largest intergenerational transfer of wealth in history – began to take place in mid-1990 and will continue until around 2020. This is the time when the security-minded generation who lived through the dark days of the Great Depression pass on their accumulated wealth to the lifesavings-strapped Baby Boomers.

The Emotional Cost of Having No Estate Plan
Source: Insurance News Net

 

The Many Uses of Single-Premium Life

Life insurance is not just about death benefits anymore. When used properly, it can be a sophisticated financial tool.

It is a key component when it comes to creating a sound financial plan. There are multiple ways a single-premium life insurance policy can now help individuals in a wide range of financial situations.

The Many Uses of Single-Premium Life
Source: Producer's Web

Tuesday, December 18, 2007

 

ING USA Introduces Innovative Family of Fixed Index Annuities

ING USA Annuity and Life Insurance Company ("ING USA") is introducing the new ING Envoy Fixed Index Annuity family of products featuring improved withdrawal flexibility for clients and an international index element, according to Chad Tope, senior vice president, ING Fixed Annuities. The new ING Envoy family of annuities' features compliment an existing stable of ING USA fixed annuity products designed to guarantee asset protection, provide increased interest crediting potential, and offer the ING IncomeProtector Withdrawal Benefit that provides guaranteed payments for life and some built-in inflation protection.

ING USA Introduces Innovative Family of Fixed Index Annuities
Source: Yahoo! Finance

 

Kaplan Financial Says New Rule Should Cause Surge in Training for Sellers of Deferred Variable Annuities

A new rule addressing how broker-dealers handle sales of deferred variable annuities has created a groundswell of interest in training programs that will keep the sellers in compliance by the May 5 th mandatory implementation date, according to Melaine Kimmel, Senior Vice President of Securities Education at Kaplan Financial, (www.kaplanfinancial.com), a leading source of education and compliance solutions.

Kaplan Financial Says New Rule Should Cause Surge in Training for Sellers of Deferred Variable Annuities
Source: Insurance News Net

 

Variable Annuity Ownership: Who's Too Old? (Part One)

Recently, stories have appeared in the financial press regarding lawsuits and state regulatory actions that have been initiated against financial entities for making supposedly improper annuity sales to senior investors. In each of these cases, the attorneys or state regulators involved have alleged, for various reasons, that annuities make poor investments for senior investors.

Variable Annuity Ownership: Who's Too Old? (Part One)
Source: Life Insurance Selling

 

New York Life Retirement Plan Services Wins 42 'Best in Class' Awards in Benchmark Retirement Plan Survey

New York Life Retirement Plan Services, a division of New York Life Investment Management LLC, announced today it received 42 "Best in Class" awards in PLANSPONSOR magazine's 2007 DC Survey. Of the 48 retirement plan firms ranked in this annual survey, New York Life ranked second in the amount of total honors received. New York Life earned 15 "Best in Class" awards in the mid-market (plans from $50 million to $200 million in assets); 20 awards in the small market (plans from $5 million to $50 million in assets); and seven in the micro-market (plans under $5 million in assets). Each market segment awards honors in the same 23 categories.

New York Life Retirement Plan Services Wins 42 'Best in Class' Awards in Benchmark Retirement Plan Survey
Source: PR Newswire

Monday, December 17, 2007

 

Despite Increasing Opposition Industry Insiders Predict Growth in Life Settlement Market

At the 18th annual Executive Conference for the Life Insurance Industry it was reported that 60% of insurance executives predicted that the secondary market for life insurance would experience significant growth in the next five years. In the same poll, only 5% said it would be smaller and 2% believed it would be the same.

Despite Increasing Opposition Industry Insiders Predict Growth in Life Settlement Market
Source: Insurance News Net

 

Some Practical (yet uncommon) Retirement Plan Strategies for Life Insurance

As the applicable estate tax credit continues to increase, we have observed that our clients are increasingly requiring us to focus on finding solutions for income tax and asset protection concerns. Our clients are also concerned that no change in the estate tax law is ever permanent, so they are asking us to preserve as much flexibility as possible in our planning work to insure that they have the flexibility to adapt if the estate tax again becomes a factor for them, either because the value of their assets grows significantly or because the applicable credit amount is reduced below the $2 million amount where it currently resides.

Some Practical (yet uncommon) Retirement Plan Strategies for Life Insurance
Source: Life Insurance Selling

 

Borrow From Retirement Plan With Great Care

With home equity tapped out amid the housing slowdown, cash-strapped Americans may turn next to their retirement plans.

Such a strategy is almost always one of the biggest taboos in retirement planning, but if you must do it, there are right and wrong ways, experts said.

Borrow From Retirement Plan With Great Care
Source: Hartford Courant

 

MetLife to Pay Eligible Life Insurance Policyholders $1.7 Billion in Policy Dividends

MetLife, Inc. announced today that three of its life insurance subsidiaries (Metropolitan Life Insurance Company, New England Life Insurance Company and General American Life Insurance Company) will pay an aggregate amount of approximately $1.7 billion in policy dividend payments to eligible life insurance policyholders for 2008.

MetLife to Pay Eligible Life Insurance Policyholders $1.7 Billion in Policy Dividends
Source: Yahoo! Finance

Friday, December 14, 2007

 

Financial Advisors to Embrace More Sophisticated Investment Products Over the Next Two Years

The open-end mutual fund, long the dominant investment product of choice by financial advisors, will suffer declines in its portion of the product mix by more than 10 percent by 2009, according to the Advisor Product Forecast, a new study by Cogent Research. The Advisor Product Forecast is built upon a detailed channel-by-channel survey of advisors, providing data beginning with where advisors are currently directing assets under management and where they expect to be two years from now, along with a product map showing where they intend to allocate new money.

Financial Advisors to Embrace More Sophisticated Investment Products Over the Next Two Years
Source: Business Wire

 

Stretching for More Income During Retirement

Just when we all thought we were on the road to recovery from the stock market slide, we find ourselves suffering from a real estate and mortgage freeze! This is not exactly what baby boomers and retirees wanted to deal with as they look for those precious “extra” dollars to keep up the lifestyle they have worked so hard for decades to achieve.

Stretching for More Income During Retirement
Source: Life Insurance Selling

 

As More Americans Life to 100, Long Term Care Insurance Leader Gives Health Assist

As Americans increase their life spans, many eyeing 100-plus, the odds of needing long term care increase. One solution is long term care insurance to pay the care bills. "A better solution," says Cameron Truesdell, CEO of LTC Financial Partners (LTCFP), "is the insurance plus health habits to keep yourself on your feet as long as possible."

As More Americans Life to 100, Long Term Care Insurance Leader Gives Health Assist
Source: PR Newswire

 

Technology: Absent in a Progressive Annuity World

In a world of high-tech devices and instant data access, I am simply amazed by the lack of technology available in today’s insurance industry. It seems the industry has focused only on the technology that they were required to develop. In the 1980s, the life insurance industry was forced to come up with new illustration standards for their insurance proposals. Despite the increased quality of the proposals — and despite the technology being readily available — very few companies have leveraged these developments over to the annuity side of the business.

Technology: Absent in a Progressive Annuity World
Source: Producer's Web

Thursday, December 13, 2007

 

Discussing Retirement Income With Baby Boomers

U.S. baby boomer households control about $10 trillion in financial assets and represent 39% of all U.S. households, so most producers are interested in marketing to them. To be successful at this, you first need to appeal to what resonates with them, instead of with the specific details of your products and services.

Discussing Retirement Income With Baby Boomers
Source: Life Insurance Selling

 

SunLife Financial Sells U.S. Plan Administration

The U.S. division of Sun Life Financial Inc. today announced it has reached an agreement to sell Sun Life Retirement Services (U.S.), Inc. (RSI), a 401(k) plan administration business in the United States, to The Hartford Financial Services Group, Inc. The transaction is expected to close in the first quarter of 2008.

SunLife Financial Sells U.S. Plan Administration
Source: Yahoo! Finance

 

Hearing Links Reverse Mortgage Problems to Annuities

Some insurance sales representatives may be persuading older consumers to take out reverse mortgages and then put the proceeds or other assets into annuities.

Hearing Links Reverse Mortgage Problems to Annuities
Source: National Underwriter (subscription required)

 

MassMutual's Numbers Jump for Bay Area

MassMutual's Bay Area general agency expects its total life insurance in force to reach $3.5 billion this year, and premium volume to reach $115 million, a slight upward bump from last year's total.

MassMutual's Numbers Jump for Bay Area
Source: San Francisco Business Times

 

Rules Would Force Better Disclosure of 401(k) Fees

Federal officials proposed rules Thursday to ensure better disclosure of the fees levied to administer 401(k) retirement accounts, but critics immediately blasted the measures as inadequate.

Rules Would Force Better Disclosure of 401(k) Fees
Source: Los Angeles Times

Wednesday, December 12, 2007

 

How the Value of Human Life Impacts Selling Life Insurance

How much is a human life worth? Can you put a price tag on human life at all? Are all human lives worth the same or are some worth more than others? These questions go beyond Philosophy 101 class discussions. When it comes to making policies that affect such everyday things as job safety and medical care access, human life must be quantified in financial terms.

How the Value of Human Life Impacts Selling Life Insurance
Source: Insurance News Net

 

401(k) Study Has Bad News for Young Workers

Younger workers can count on 401(k) plans to replace just a modest percentage of their income when they retire in the middle of this century, according to a new study that highlights the need for changes in the nation's pension system, members of Congress said Tuesday.

401(k) Study Has Bad News for Young Workers
Source: Los Angeles Times

 

Global Study Shows Americans Caught in the Cycle of Anxiety

Among the findings released today from the AXA Equitable Protection Report, the life risks that insurance covers -- death, financial hardship, serious illness and reduction in standard of living -- are on the minds of Americans, more so than people in 10 other countries surveyed. This unique survey -- developed by AXA to enhance its understanding of the issues, attitudes and behaviors surrounding life risks and protection coverage -- is available online at http://www.axa-equitable.com/.

Global Study Shows Americans Caught in the Cycle of Anxiety
Source: Insurance News Net

 

The Hartford Agrees to Acquire Ohio-Based TopNoggin to Expand Delivery of Administrative and Consulting Services to Defined Benefit Plans

In a move designed to offer defined benefit plan sponsors the latest in Internet functionality, The Hartford Financial Services Group, Inc., one of the nation’s largest diversified financial services companies, today announced that it has agreed to acquire TopNoggin, a Powell, Ohio-based firm with proprietary technology that tackles the expensive, time-consuming and cumbersome tasks of data management, administration and benefit calculations. With this acquisition, The Hartford gains leading edge technology and expertise to grow its current offering and expand its future market opportunities.

The Hartford Agrees to Acquire Ohio-Based TopNoggin to Expand Delivery of Administrative and Consulting Services to Defined Benefit Plans
Source: Business Wire

Tuesday, December 11, 2007

 

ING U.S. Wealth Management Reinforces the Importance of Stable Value Investments to Plan Participants Actively Seeking Stability of their Retirement S

ING US Wealth Management is focusing greater attention on educating plan sponsors and consultants about the importance of including a stable value investment option within a defined contribution plan, and the motivating factors that have driven so many participants to rely on this asset class, no matter how close they are to retirement.

ING U.S. Wealth Management Reinforces the Importance of Stable Value Investments to Plan Participants Actively Seeking Stability of their Retirement Savings
Source: Yahoo! Finance

 

Help Your Clients by Putting Planned Giving Into Context

Almost nothing beats a charitable remainder unitrust and wealth replacement life insurance trust combination for escaping capital gains, estate and income tax liabilities. The CRT and WRT are wonderful tools of the trade in the planned giving arena, but if you use jargon when discussing planned giving concepts, most clients will give a blank stare and nod occasionally until they hear you stop talking.

Help Your Clients by Putting Planned Giving Into Context
Source: National Underwriter (subscription required)

 

After decades of focusing on health coverage as the exclusive avenue of providing financial protection against medical costs, employers are starting t

After decades of focusing on health coverage as the exclusive avenue of providing financial protection against medical costs, employers are starting to shift to a focus on wellness and prevention. With health care cost inflation outpacing national inflation, employers are looking to newer strategies to drive a healthier workforce. According to MetLife’s 5th Annual Employee Benefits Trend Study, more than one-fourth (28%) of all employers – and nearly half (49%) of companies with 500 or more employees offer some type of a wellness program as a workplace benefit, and 43% of employers believe that these programs are highly valued by their employees.

Employers Refocus Strategies to Promote a ''Culture of Health and Financial Security,'' According to MetLife Study
Source: Business Wire

 

The Hartford Falls Short

Citing intense competition in property-casualty insurance, The Hartford Financial Services Group Inc. forecast 2008 earnings Monday that fell short of Wall Street expectations.

The Hartford also said it would spend $100 million over two years to build a second data center.

The Hartford Falls Short
Source: Hartford Courant

 

MetLife Broadens Distribution of Deferred Income Annuity Through MetLife Investors; Renames Products

MetLife, the No. 1 variable annuity provider in the U.S. (according to VARDS based on sales premiums as of September 30, 2007), today announced the availability of Longevity Income Guarantee (LIG), MetLife’s retail deferred income annuity, through MetLife Investors, the company’s independent distribution arm.

LIG, previously known as Personal Income Builder and commonly referred to in the marketplace as a version of longevity insurance, is designed to help clients maximize, protect and guarantee income for life in retirement.

MetLife Broadens Distribution of Deferred Income Annuity Through MetLife Investors; Renames Products
Source: Business Wire

Monday, December 10, 2007

 

Ernst & Young Issues 2008 U.S. Outlook for the Life Insurance Industry

In 2008, regulatory issues will confront the insurance industry and put increasing pressure on companies to become more efficient, enhance technology-related processes and alter their business models, according to Ernst & Young's Global Insurance Center. Moreover, in spite of continued financial growth, life insurance companies need to maximize existing opportunities to meet the growing demand for cost-effective products for baby boomers and the underserved middle-market.

Ernst & Young Issues 2008 U.S. Outlook for the Life Insurance Industry
Source: PR Newswire

 

Twist on Life Insurance Rivals Subprime Mess

In the midst of its ill-considered effort to impose some discipline on the American colonies through legislation, the British Parliament also spent some time pondering the growing insurance industry headquartered in London. The result, in 1774, was the Life Assurance Act.

Twist on Life Insurance Rivals Subprime Mess
Source: HeraldNet

 

For Life Insurance after Retirement, Plan Ahead

Limra International, an insurance-industry trade organization, reported that in 2004, the most recent year for such research, 51 percent of people age 65 and older owned individual - that is, not group - life insurance. Only those 20 years younger showed a higher ownership percentage, and they just by one percentage point.

For Life Insurance after Retirement, Plan Ahead
Source: Cincinnati Enquirer

 

How to Get Prospects to Chase You Down

Early in my career, a marketing mentor of mine asked me these questions. And as he anticipated, I answered, “I sell life insurance and my market is everybody.” Wrong, wrong, wrong! He told me that if I ever wanted to succeed in life I needed to come to grips with what I am selling and that I need to know who my market is. Who’s most likely to buy what I’m offering? Who is my best client?

How to Get Prospects to Chase You Down
Source: Producer's Web

Thursday, December 06, 2007

 

Allstate Customers Can Now Receive and Pay Their Bill Online at More than 3,000 Financial Institutions

CheckFree, now part of Fiserv Inc., a leading provider of information technology services to the financial industry, today announced an agreement with The Allstate Corporation to distribute electronic bills to Allstate customers through more than 3,000 electronic billing and payment websites powered by CheckFree. Customers can receive electronic bills (e-bills) from Allstate at their preferred bank, brokerage or credit union website beginning this month.

Allstate Customers Can Now Receive and Pay Their Bill Online at More than 3,000 Financial Institutions
Source: Business Wire

 

Basics Can Keep Life Industry Going Strong

Focusing on basics such as strengthening the agency system and expanding mortality and morbidity business will keep the life insurance industry strong.

Basics Can Keep Life Industry Going Strong
Source: National Underwriter (subscription required)

 

Everything You Need to Know About GLWBs

Since the introduction of the very first GLWB just over a year ago, nearly all of the top annuity carriers have raced to introduce their own version of the rider. Within this short period of time, the number of new annuities issued with a GLWB attached skyrocketed. GLWBs are changing the way that annuities are sold. Undoubtedly, a thorough understanding of GLWBs could give you a tremendous competitive advantage as an annuity sales professional. Read on for an overview of what these riders are, how they work, and why they’re important.

Everything You Need to Know About GLWBs
Source: Producer's Web

 

Protect Your Family Without Breaking The Bank

You may need a Ph.D. to understand the terms of life insurance, but the economics are simple.

Protect Your Family Without Breaking The Bank
Source: CNN/Money

 

John Hancock Freedom 529 Lowers Annual Program Management Fee on Average 30 Percent

John Hancock College Savings announced today that it is lowering the annual program management fee for current and future John Hancock Freedom 529 Savings Plan account holders on a weighted average basis by approximately 30 percent, effective December 1. This is in addition to reductions in other fees and expenses. This change comes as the company passes $2.2 billion in assets under management.

John Hancock Freedom 529 Lowers Annual Program Management Fee on Average 30 Percent
Source: Yahoo! Finance

Wednesday, December 05, 2007

 

Understanding the Affluent

Are you targeting the affluent? Are you interested in acquiring clients with larger pools of assets? Of course you are. Every financial advisor is aiming for larger client accounts these days, and in particular, they are trying to capture a piece of what has become known as "boomer affluence." (By now, unless you have been living in a closet, you've heard more than you probably want to about this boomer cohort, but read on. I've got some good advice.)

Understanding the Affluent
Source: Insurance News Net

 

MassMutual Announces New Thought-Provoking PBS Series on Retirement

MassMutual Financial Group announced today the exclusive national sponsorship of a new two-hour national PBS documentary series that will take a deep and comprehensive look at the financial challenges facing the baby boomer generation. The documentary, Retirement Revolution, will air in April 2008 and be broadcast on PBS stations across the U.S. It is being sponsored by Massachusetts Mutual Life Insurance Company (MassMutual).

MassMutual Announces New Thought-Provoking PBS Series on Retirement
Source: PR Newswire

 

Multiple Consumer Needs Lead to More Product Choices in the Retirement Income Market

The Diversified Services Group, Inc. (DSG) announced the release of its 2007 Retirement Income Products Study, the 8th annual report in this series. The report includes the findings from two separate, but complementary, research efforts: a survey of 43 providers of retirement income products and solutions, and a series of 21 in-depth interviews with selected executives who focus on the retirement income market.

Multiple Consumer Needs Lead to More Product Choices in the Retirement Income Market
Source: PR Newswire

 

MetLife Securitizing Life Insurance

MetLife Inc. plans to transfer to investors the risk of claims on a basket of life insurance policies by selling bonds, the life insurer said in a filing with the Securities and Exchange Commission Wednesday.

MetLife Securitizing Life Insurance
Source: Yahoo! Finance

Tuesday, December 04, 2007

 

Jackson Enhances Variable Annuity Product Lineup

Jackson National Life Insurance Company(R) (Jackson) today announced the launch of several enhancements to the features and benefits offered within its Perspective family of variable annuities. In addition to strengthening and increasing its roster of optional living benefits, Jackson has added five new underlying investment strategies that are subadvised by Standard & Poor's Investment Advisory Services LLC (SPIAS).

Jackson Enhances Variable Annuity Product Lineup
Source: PR-Inside

 

ING Employee Benefits Announces New Critical Illness Insurance Product

ING Employee Benefits has announced the launch of its new critical illness insurance product. An excellent complement to traditional health and disability insurance, Premier Critical Illness insurance is designed to provide additional financial protection for enrolled participants in the event they experience a critical illness. The new product is currently available to employers to add to their benefit portfolios with coverage effective beginning January 1, 2008.

ING Employee Benefits Announces New Critical Illness Insurance Product
Source: PR Newswire

 

U.S. Individual Annuity Sales on Pace for Record Growth

Total individual annuity sales are on a record setting pace, growing six percent through the first three quarters of 2007 to reach $189.4 billion, according to LIMRA International.

"Current equity market volatility on the variable annuity side and a widening gap between short-term and long-term interest rates on the fixed annuity side make a favorable environment for selling annuities," said Dan Beatrice, analyst for LIMRA's annuity research. "Variable annuity sales are near certain to come in at record levels for 2007, and while fixed annuity sales will likely be down for the year, we anticipate strong fourth quarter sales growth."

U.S. Individual Annuity Sales on Pace for Record Growth
Source: Insurance News Net

 

MetLife Launches New Product for Children

MetLife is launching a new product, which will help policyholders build assets for the future as well as protect their children from various risks. With this product called the ``Non-participating Kids Plan Variable Universal Life Insurance (VUL),'' both parents and their children are covered by a single policy, and parents also have the option to cover their children only up until the ages of 20 to 27.

MetLife Launches New Product for Children
Source: The Korea Times

Monday, December 03, 2007

 

Where There is Need for a Will, There is Now a Way

A last will and testament is an important legal document that can protect a family’s financial future, avoid bureaucratic entanglements over property, and ensure final wishes are carried out when someone passes away. But drafting a will can cost several hundred dollars or more, perhaps one reason why the National Association of Estate Planners & Councils reports that seven in 10 Americans do not have one.

Where There is Need for a Will, There is Now a Way
Source: Business Wire

 

Pacific Life Launches Cost-Effective Individual(k) Program

Pacific Life Insurance Company has added a suite of variable annuities as a funding option for its Pacific Life Individual(k) Program. Originally launched in 2004 with five PL Portfolio Optimization Funds and 15 individual mutual funds, the program is a cost-effective 401(k) designed for self-employed business owners and their spouses. For 2007, the IRS increased contributions limits of up to $45,000 annually.

Pacific Life Launches Cost-Effective Individual(k) Program
Source: Business Wire

 

The Easy Retirement Plan for Small Business Clients

It’s not news that far too many people approaching retirement haven’t saved enough. Many of them say they plan on working full-time beyond normal retirement age and part-time after they retire.

The Easy Retirement Plan for Small Business Clients
Source: National Underwriter (subscription required)

 

Genworth OKs $1 Billion Stock Buyback

Genworth Financial Inc.'s board approved a plan to buy back $1 billion in stock by the end of 2009, the insurer said Friday.

The company expects to buy back about half of the stock by the end of 2008.
Genworth said the timing of the purchases will depend on market conditions. After buying the stock, the company will either use it for corporate purposes or retire it.

Shares of Genworth rose $1.66, or 6.8 percent, to $26.24 Friday. The stock has traded in a 52-week range of $23.26 to $37.16.

Source: Associated Press

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