Thursday, January 31, 2008
Couple suing investment advisor for losing hundreds of thousands of dollars for them
Stephen David and his wife Linda sold a business and had $1 million from the sale to carry them through retirement and pay for college for their youngest child. They put their $1 million plus $500,000 of savings to work with investment broker Charles Moni, hoping to get about $150,000 a year out of their account. That would have meant they needed a 10% a year return on their money, yet they wanted to be conservative in their investments.
The investment account started losing money right away, and the Davises complained to the broker, who told them they'd regain their value. They took $625,000 out of their account and put it in a savings account for safekeeping. The broker put the remaining money in one stock: Rigel Pharmaceuticals... In one day, the couple lost $450,000 in this stock...
WalletPop: Couple suing investment advisor for losing hundreds of thousands of dollars for them
The investment account started losing money right away, and the Davises complained to the broker, who told them they'd regain their value. They took $625,000 out of their account and put it in a savings account for safekeeping. The broker put the remaining money in one stock: Rigel Pharmaceuticals... In one day, the couple lost $450,000 in this stock...
WalletPop: Couple suing investment advisor for losing hundreds of thousands of dollars for them
Permalink posted by markw @ 6:30 AM 
Annuities: Beware of unsuitable investments for seniors
The senior citizen population is large, growing, and by some estimates, holds two-thirds of the individual wealth in the United States. By the year 2020, the number of seniors in the United States will double.
Since many seniors have been able to save up a nest egg for their retirement years, they are often targeted with fraud in a way that younger people with no savings are not.
The Minnesota Attorney General has taken legal action against several insurance companies over their sale of long-term, high surrender charge annuities...
Pine Journal: Annuities: Beware of unsuitable investments for seniors
Since many seniors have been able to save up a nest egg for their retirement years, they are often targeted with fraud in a way that younger people with no savings are not.
The Minnesota Attorney General has taken legal action against several insurance companies over their sale of long-term, high surrender charge annuities...
Pine Journal: Annuities: Beware of unsuitable investments for seniors
Permalink posted by markw @ 6:24 AM
For most of us, the future doesn't hinge entirely on investments
Our future may be less vulnerable than the financial services industry says it will be.
There is a simple reason for this. Our security is based on more than our financial assets. Much of the survey and research work done by the financial services industry, however, assumes that financial assets are the beginning, the middle, and the end of all security and all income...
Boston.com: For most of us, the future doesn't hinge entirely on investments
There is a simple reason for this. Our security is based on more than our financial assets. Much of the survey and research work done by the financial services industry, however, assumes that financial assets are the beginning, the middle, and the end of all security and all income...
Boston.com: For most of us, the future doesn't hinge entirely on investments
Permalink posted by markw @ 6:23 AM
Wednesday, January 30, 2008
Jackson's 2007 Sales Rise 22% to More Than $14.5 Billion
Jackson National Life Insurance Company generated more than $14.5 billion 1 in sales and deposits during 2007, a rise of 22 percent over 2006, due to record sales of variable annuities (VAs) and record deposits from its separately managed accounts (SMA) subsidiary, Curian Capital. Jackson sold more than $9.1 billion in VAs in 2007, a 29-percent increase over the prior year, and Curian’ s SMA deposits rose 57 percent over 2006 to more than $1.3 billion. Jackson’ s retail sales and deposits, which exclude sales of institutional products, exceeded $12.6 billion 1, an increase of 24 percent over the prior year.
“Jackson has been able to achieve double-digit sales growth in each of the past four years because we have had the right products in the right channels at the right time,” said Clark Manning, Jackson’ s president and chief executive officer. “By tailoring our products and services to the needs of advisers and their Baby Boomer clients, Jackson has established strong positions in advice-based distribution channels, which has allowed us to grow faster than the market...”
InsuranceNewsNet: Jackson's 2007 Sales Rise 22% to More Than $14.5 Billion
“Jackson has been able to achieve double-digit sales growth in each of the past four years because we have had the right products in the right channels at the right time,” said Clark Manning, Jackson’ s president and chief executive officer. “By tailoring our products and services to the needs of advisers and their Baby Boomer clients, Jackson has established strong positions in advice-based distribution channels, which has allowed us to grow faster than the market...”
InsuranceNewsNet: Jackson's 2007 Sales Rise 22% to More Than $14.5 Billion
Permalink posted by markw @ 6:27 AM
FINRA Fines Banc One Securities On Variable Annuities
The Financial Industry Regulatory Authority fined JPMorgan Chase & Co.'s (JPM) Banc One Securities Corp. $225,000 for making what FINRA said were unsuitable sales of deferred variable annuities to 23 customers and for having inadequate systems and procedures governing annuity exchanges... The regulatory group said 21 of the 23 customers, who placed all their assets into annuities that paid a maximum of 3%, were over 70 years old...
CNN Money: FINRA Fines Banc One Securities On Variable Annuities
CNN Money: FINRA Fines Banc One Securities On Variable Annuities
Permalink posted by markw @ 6:25 AM
Tuesday, January 29, 2008
3 retirement solutions: A mix is best
Here's a tough question: How much money do you need if you retire at 62 and you don't know how long you'll live or what your rate of return will be?
Unlike previous generations, this pool of workers is projected to live nearly as long in retirement as they did in the workplace.
Give up? You're not alone. But it's a problem you can attack in three ways, none of which gives an entirely satisfactory solution.
Delaware Online: 3 retirement solutions: A mix is best
Unlike previous generations, this pool of workers is projected to live nearly as long in retirement as they did in the workplace.
Give up? You're not alone. But it's a problem you can attack in three ways, none of which gives an entirely satisfactory solution.
Delaware Online: 3 retirement solutions: A mix is best
Permalink posted by markw @ 8:23 AM
Retirement income products confuse consumers, study shows
Although consumers are interested in retirement, few know exactly how they are going to obtain retirement income, and they lack knowledge about the strategies used to create such income, according to a survey by Spectrem Group.
Less than 20% of those surveyed said they were "very familiar" with four approaches for setting up retirement income payments: im-mediate pay annuities, systematic-withdrawal plans, structured-bond portfolios and laddering certificates of deposit.
Just 19% said they were very familiar with systematic-withdrawal plans, while 15% said they were very familiar with immediate-pay annuities, 10% said they were very familiar with structured-bond portfolios, and 14% said they were very familiar with laddering CDs...
Investment News: Retirement income products confuse consumers, study shows
Less than 20% of those surveyed said they were "very familiar" with four approaches for setting up retirement income payments: im-mediate pay annuities, systematic-withdrawal plans, structured-bond portfolios and laddering certificates of deposit.
Just 19% said they were very familiar with systematic-withdrawal plans, while 15% said they were very familiar with immediate-pay annuities, 10% said they were very familiar with structured-bond portfolios, and 14% said they were very familiar with laddering CDs...
Investment News: Retirement income products confuse consumers, study shows
Permalink posted by markw @ 8:16 AM
DRIPs For Disciplined Investing
We've all heard the adage "Buy low and sell high." If it were only that easy. Both mathematics and common sense tell us that investors should buy stocks when prices are low. But stock prices often fall en masse, and it can be tough to buy when everyone else is running for the hills...
Forbes: DRIPs For Disciplined Investing
Forbes: DRIPs For Disciplined Investing
Permalink posted by markw @ 8:14 AM
Monday, January 28, 2008
Whole Life Insurance: 'The Investment Bomb Shelter for Scary Times'
During one of the most unsettled periods in recent financial history, author and investment guru John E. Girouard is warning people to think twice before moving their money into bank CDs and money market funds.
He says the ultimate bomb shelter during scary financial times is your grandparents' life insurance, called participating or mutual whole life, which dominated the industry until falling out of favor in the late 1970s, but is now coming back into style.
"Few people know that the life insurance industry was one of the few economic sectors to survive the Great Depression intact. It was one investment that kept its promises," says Girouard...
EarthTimes: Whole Life Insurance: 'The Investment Bomb Shelter for Scary Times'
He says the ultimate bomb shelter during scary financial times is your grandparents' life insurance, called participating or mutual whole life, which dominated the industry until falling out of favor in the late 1970s, but is now coming back into style.
"Few people know that the life insurance industry was one of the few economic sectors to survive the Great Depression intact. It was one investment that kept its promises," says Girouard...
EarthTimes: Whole Life Insurance: 'The Investment Bomb Shelter for Scary Times'
Permalink posted by markw @ 11:49 AM
Annuity sales can destroy estate planning strategies
Insurance agents and advisers are hawking annuities without grasping the adverse impact on clients' estate plans, industry observers said... The annuity industry brought in $189.4 billion in year-to-date sales by the end of the third quarter last year, a 6% gain from the same period in 2006, according to data from Limra International Inc., in Windsor, Conn.
With those numbers in mind, a big concern among attorneys is that insurance agents are hailing the tax benefits of the policies to persuade clients to buy them, oftentimes without regard to the negative impact on estate plans...
Investment News: Annuity sales can destroy estate planning strategies
With those numbers in mind, a big concern among attorneys is that insurance agents are hailing the tax benefits of the policies to persuade clients to buy them, oftentimes without regard to the negative impact on estate plans...
Investment News: Annuity sales can destroy estate planning strategies
Permalink posted by markw @ 10:11 AM
Don't surrender that life insurance before you find out what it is worth
In last week's column we introduced the concept of viatical settlements, in which terminally ill policy owners may sell their policy to a third party for cash, and can then, in turn, use the cash to pay for medical expenses... Provided that the person selling the policy is terminally ill, this transaction is not a taxable event to the seller of the policy.
These viatical settlements are regulated by the various state insurance departments to prevent abuse. Actually, most modern policies now issued by virtually every life insurance company contain a provision whereby terminally ill policy owners can obtain cash from the policy without having to sell the policy to someone else...
Aiken Standard: Don't surrender that life insurance before you find out what it is worth
These viatical settlements are regulated by the various state insurance departments to prevent abuse. Actually, most modern policies now issued by virtually every life insurance company contain a provision whereby terminally ill policy owners can obtain cash from the policy without having to sell the policy to someone else...
Aiken Standard: Don't surrender that life insurance before you find out what it is worth
Permalink posted by markw @ 5:10 AM
A new breed of variable annuity emerging
In general, traditional variable annuities are high-commission and high-cost products.
Commission salespeople like them because commissions are hidden and costs and surrender charges are rarely discussed... According to Morningstar, the average insurance cost for a variable annuity is 1.35 percent. This is on top of the subaccount (mutual fund) management fee. Registered investment advisers have a fiduciary duty to their clients and most avoid VAs because of costs.
Insurance companies, realizing that 76 million boomers will reach retirement age in the next two decades, are bringing to market VA products that are low-cost and no-load. No-load means no commissions...
Coloradoan: A new breed of variable annuity emerging
Commission salespeople like them because commissions are hidden and costs and surrender charges are rarely discussed... According to Morningstar, the average insurance cost for a variable annuity is 1.35 percent. This is on top of the subaccount (mutual fund) management fee. Registered investment advisers have a fiduciary duty to their clients and most avoid VAs because of costs.
Insurance companies, realizing that 76 million boomers will reach retirement age in the next two decades, are bringing to market VA products that are low-cost and no-load. No-load means no commissions...
Coloradoan: A new breed of variable annuity emerging
Permalink posted by markw @ 4:53 AM
Friday, January 25, 2008
A.M. Best Revises Rating Outlook to Stable for Church Life Insurance Company
A.M. Best Co. has revised the outlook of the financial strength rating (FSR) of A- (Excellent) to stable from negative for Church Life Insurance Corporation (Church Life) (New York, NY). Concurrently, A.M. Best has assigned an issuer credit rating (ICR) of “a-” and affirmed the FSR of Church Life. The outlook assigned to the ICR is stable.
The revised outlook primarily reflects the numerous initiatives Church Life has implemented in recent periods to expand its business profile and increase premium production as well as improve its operating results...
BusinessWire: A.M. Best Revises Rating Outlook to Stable for Church Life Insurance Company
The revised outlook primarily reflects the numerous initiatives Church Life has implemented in recent periods to expand its business profile and increase premium production as well as improve its operating results...
BusinessWire: A.M. Best Revises Rating Outlook to Stable for Church Life Insurance Company
Permalink posted by markw @ 8:28 AM
Cohen Bill Prohibiting Life Insurance Discrimination Based on Foreign Travel Advances
Measure Would Prevent Companies from Using Past or Future Travel Plans as a Means of Denying or Altering Coverage
Legislation Assemblyman Neil M. Cohen sponsored to prohibit life insurance companies from unfairly discriminating against individuals based on their past or future foreign travel plans was released today from the Assembly Financial Institutions and Insurance Committee.
"Detrimentally altering people's life insurance coverage because of their foreign travel plans is an intolerable insurance underwriting practice," said Cohen (D-Union), the chairman of the Assembly Financial Institutions and Insurance Committee. "A person's legitimate travel lifestyle must never be exploited by insurance companies as a new avenue for financial gains..."
PoliticalTicker New Jersey: Cohen Bill Prohibiting Life Insurance Discrimination Based on Foreign Travel Advances
Legislation Assemblyman Neil M. Cohen sponsored to prohibit life insurance companies from unfairly discriminating against individuals based on their past or future foreign travel plans was released today from the Assembly Financial Institutions and Insurance Committee.
"Detrimentally altering people's life insurance coverage because of their foreign travel plans is an intolerable insurance underwriting practice," said Cohen (D-Union), the chairman of the Assembly Financial Institutions and Insurance Committee. "A person's legitimate travel lifestyle must never be exploited by insurance companies as a new avenue for financial gains..."
PoliticalTicker New Jersey: Cohen Bill Prohibiting Life Insurance Discrimination Based on Foreign Travel Advances
Permalink posted by markw @ 8:24 AM
Beware of unsuitable investments for seniors
The senior citizen population is large, growing, and by some estimates, hold two-thirds of the individual wealth in the United States.
By the year 2020, the number of seniors in the U.S. will double. Since many seniors have been able to save up a nest egg for their retirement years, they are often targeted with fraud in a way that younger people with no savings are not...
Alexandria, MN Echo-Press: Beware of unsuitable investments for seniors
By the year 2020, the number of seniors in the U.S. will double. Since many seniors have been able to save up a nest egg for their retirement years, they are often targeted with fraud in a way that younger people with no savings are not...
Alexandria, MN Echo-Press: Beware of unsuitable investments for seniors
Permalink posted by markw @ 8:22 AM
Kansas City Life Insurance's ratings cut to 'A' from 'A+' - S&P
Standard & Poor's (NYSE:MHP) Ratings Services lowered its counterparty credit and financial strength ratings on Kansas City Life Insurance (NASDAQ:KCLI) Co and its core unit Sunset Life Insurance Co of America -- collectively KCL -- to 'A' from 'A+'.
The rating changes are based on the company's declining competitive position and increasing risk profile, S&P said...
CNN Money: Kansas City Life Insurance's ratings cut to 'A' from 'A+' - S&P
The rating changes are based on the company's declining competitive position and increasing risk profile, S&P said...
CNN Money: Kansas City Life Insurance's ratings cut to 'A' from 'A+' - S&P
Permalink posted by markw @ 8:21 AM
Wednesday, January 23, 2008
How Marketing for Life Insurance Leads is Like Crabbing
Last week I took the kids crabbing for the first time. They had a blast. And for the most part no one got hurt too bad.
If you´ve never been crabbing before, you don't know what you're missing. But you do have to be careful you don't get pinched... It does hurt.
The best part though is bringing these huge fresh treats home and cooking them up.
But back to crabbing itself...
There are basically 3 ways to catch crabs...
American Chronicle: How Marketing for Life Insurance Leads is Like Crabbing
If you´ve never been crabbing before, you don't know what you're missing. But you do have to be careful you don't get pinched... It does hurt.
The best part though is bringing these huge fresh treats home and cooking them up.
But back to crabbing itself...
There are basically 3 ways to catch crabs...
American Chronicle: How Marketing for Life Insurance Leads is Like Crabbing
Permalink posted by markw @ 7:30 AM
BofA is looking like rival
After Distancing Itself From Citigroup, Bank Has Similar Write-Downs
Kenneth Lewis in recent years has distanced his bank from Citigroup. While Citigroup floundered, the Bank of America boss pounced, buying such businesses as U.S. Trust and LaSalle Bank, and engineering a bargain-basement price for mortgage lender Countrywide Financial. Bank of America has even leapfrogged Citigroup to become America's largest bank by market value. Now it is looking more like its New York rival.
One resemblance is in the realm of structured product write-downs. Bank of America's troubles aren't as big. It took a $5.4 billion hit in the last quarter of 2007 and has $12 billion of exposure left to subprime mortgage-related securities -- each roughly a third of Citigroup's equivalent numbers. Still, the Charlotte, N.C., financial-services concern had to rely on one-time gains to eke out a meager profit...
WSJ: BofA Is Looking Like Rival
Linked by the WSJ - thanks!
Kenneth Lewis in recent years has distanced his bank from Citigroup. While Citigroup floundered, the Bank of America boss pounced, buying such businesses as U.S. Trust and LaSalle Bank, and engineering a bargain-basement price for mortgage lender Countrywide Financial. Bank of America has even leapfrogged Citigroup to become America's largest bank by market value. Now it is looking more like its New York rival.
One resemblance is in the realm of structured product write-downs. Bank of America's troubles aren't as big. It took a $5.4 billion hit in the last quarter of 2007 and has $12 billion of exposure left to subprime mortgage-related securities -- each roughly a third of Citigroup's equivalent numbers. Still, the Charlotte, N.C., financial-services concern had to rely on one-time gains to eke out a meager profit...
WSJ: BofA Is Looking Like Rival
Linked by the WSJ - thanks!
Permalink posted by markw @ 7:27 AM
Bond insurance crisis looms on Wall Street
Insurers of housing debt exposed to $125-billion in the shaky U.S. credit market
Ben Bernanke may have temporarily halted a crippling nosedive in global stock markets, but bankers aren't convinced the U.S. Federal Reserve's surprise rate cut yesterday will address what is emerging as a growing threat to the economy: monoline bond insurers.
Monolines, the latest entry in Wall Street's expanding lexicon of doom, have always operated on the fringes of the financial system. Originally, they made money by guaranteeing bonds for municipalities: They would promise to pay the interest on these bonds if a town or city defaulted on the payments.
Beginning around 2000, however, many of these firms migrated into more complex products, and began insuring securities such as collateralized debt obligations (CDOs), which pool various forms of debt, including subprime mortgages.
Of the $2.4-trillion (U.S.) worth of insurance coverage these companies provide, approximately $125-billion is tied to the faltering home market, according to industry estimates...
Globe and Mail: Bond insurance crisis looms on Wall Street
Ben Bernanke may have temporarily halted a crippling nosedive in global stock markets, but bankers aren't convinced the U.S. Federal Reserve's surprise rate cut yesterday will address what is emerging as a growing threat to the economy: monoline bond insurers.
Monolines, the latest entry in Wall Street's expanding lexicon of doom, have always operated on the fringes of the financial system. Originally, they made money by guaranteeing bonds for municipalities: They would promise to pay the interest on these bonds if a town or city defaulted on the payments.
Beginning around 2000, however, many of these firms migrated into more complex products, and began insuring securities such as collateralized debt obligations (CDOs), which pool various forms of debt, including subprime mortgages.
Of the $2.4-trillion (U.S.) worth of insurance coverage these companies provide, approximately $125-billion is tied to the faltering home market, according to industry estimates...
Globe and Mail: Bond insurance crisis looms on Wall Street
Permalink posted by markw @ 7:25 AM
Monday, January 21, 2008
Show The Value Of The UL With A No-Lapse Guarantee
Quick! Which company has the lowest guaranteed annual premium on a universal life with no-lapse guarantee (ULNLG) for a male, age 50, $1 million death benefit? No doubt you know the company or know at least which carriers are in the top 5.
But does the guaranteed lowest annual premium give the customer the best value? It may or may not. Certainly, if the customer could care less about cash values (either guaranteed or illustrated) and just wants a term-to-death policy, the absolute lowest guaranteed premium may be the perfect fit.
Fast forward 15 years. Assume a new insurance product has been developed. A producer looking over this customer’s insurance needs mentions this new product to the customer. The customer wants the new product because of the differentiating features. The producer believes that it would be wise to 1035 exchange the current policy into the new one but, looking at the current in-force policy, there’s no significant cash value to exchange. The customer questions the lack of cash values. Yes, the customer remembers buying a term-to-death policy but did not realize this would happen...
National Underwriter: Show The Value Of The UL With A No-Lapse Guarantee
But does the guaranteed lowest annual premium give the customer the best value? It may or may not. Certainly, if the customer could care less about cash values (either guaranteed or illustrated) and just wants a term-to-death policy, the absolute lowest guaranteed premium may be the perfect fit.
Fast forward 15 years. Assume a new insurance product has been developed. A producer looking over this customer’s insurance needs mentions this new product to the customer. The customer wants the new product because of the differentiating features. The producer believes that it would be wise to 1035 exchange the current policy into the new one but, looking at the current in-force policy, there’s no significant cash value to exchange. The customer questions the lack of cash values. Yes, the customer remembers buying a term-to-death policy but did not realize this would happen...
National Underwriter: Show The Value Of The UL With A No-Lapse Guarantee
Permalink posted by markw @ 1:27 PM
The Panic Stage
In his book "Manias, Panics and Crashes," the economic historian Charles Kindleberger describes the stages of financial boom and bust. Students of the good professor will recognize where we now are in the current credit crisis: the panic stage. It isn't a pretty sight, but a crash is far from inevitable if political and economic leaders keep their wits about them and focus on the proper remedies.
Amid the daily market turmoil, and to help prevent a crash, it helps to step back and remember how we got here. With the benefit of hindsight, everyone can see that the U.S. economy built up an enormous credit bubble that has now popped. Our own view -- which we warned about going back to 2003 -- is that this bubble was created principally by a Federal Reserve that kept real interest rates too low for too long...
WSJ: The Panic Stage
Amid the daily market turmoil, and to help prevent a crash, it helps to step back and remember how we got here. With the benefit of hindsight, everyone can see that the U.S. economy built up an enormous credit bubble that has now popped. Our own view -- which we warned about going back to 2003 -- is that this bubble was created principally by a Federal Reserve that kept real interest rates too low for too long...
WSJ: The Panic Stage
Permalink posted by markw @ 1:18 PM
Boomers set new course
Call it the Big Boom Theory.
Over the next two decades, 78 million American baby boomers will hit retirement, setting off - at least in some analysts' minds - a crisis in public services, a brain drain for businesses and a budgetary disaster.
Medicare and Medicaid rolls will swell, say reports like the Ohio Public Expenditure Council study released last week. Senior services will be stressed to the limit. And the 20 young workers who supported each retiree back in 1945 will shrink to less than two for each retired baby boomer in 2029.
Enquirer: Boomers set new course
Over the next two decades, 78 million American baby boomers will hit retirement, setting off - at least in some analysts' minds - a crisis in public services, a brain drain for businesses and a budgetary disaster.
Medicare and Medicaid rolls will swell, say reports like the Ohio Public Expenditure Council study released last week. Senior services will be stressed to the limit. And the 20 young workers who supported each retiree back in 1945 will shrink to less than two for each retired baby boomer in 2029.
Enquirer: Boomers set new course
Permalink posted by markw @ 1:17 PM
Panic Is Driving Today's Stock Market
ARE YOU SATISFIED, all you permabears who have been preaching financial Armageddon — for years? Your patience in the face of reality has finally paid off. You've talked the American public into outright panic, and so now we've got the first real stock market break since the present bull market began in early 2003.
With the S&P 500 making new 52-week lows, having fallen 15% from all-time highs in October, as the Bard of Avon might ask, "There, art thou happy?"...
SmartMoney: Panic Is Driving Today's Stock Market
With the S&P 500 making new 52-week lows, having fallen 15% from all-time highs in October, as the Bard of Avon might ask, "There, art thou happy?"...
SmartMoney: Panic Is Driving Today's Stock Market
Permalink posted by markw @ 4:44 AM
FINRA Rule 2821 Training Requirement Set to go into Effect on May 5, 2008
Despite the recent SEC ruling, which delayed paragraph (c) of FINRA Rule 2821 from going into effect until August 4, 2008, registered representatives and supervisors must begin to comply with training requirements on May 5, 2008.
Rule 2821, also called the Variable Annuity Rule, requires organizations to train their registered representatives on deferred variable annuities. Both firms and agents must understand the requirements of the new rule and establish a schedule for compliance training. They must also have a record-keeping system in place...
PR Urgent: FINRA Rule 2821 Training Requirement Set to go into Effect on May 5, 2008
Rule 2821, also called the Variable Annuity Rule, requires organizations to train their registered representatives on deferred variable annuities. Both firms and agents must understand the requirements of the new rule and establish a schedule for compliance training. They must also have a record-keeping system in place...
PR Urgent: FINRA Rule 2821 Training Requirement Set to go into Effect on May 5, 2008
Permalink posted by markw @ 4:41 AM
Income annuities more insurance of money for life than investment
Humberto Cruz: I'm still getting e-mails, more than 300 so far, about a September column on immediate-income annuities that increase payments each year to compensate for inflation.
Immediate-income annuities are policies issued by insurance companies that, in exchange for a lump-sum premium, can guarantee an income for life. Many financial advisers recommend retirees consider using a portion of their savings to buy a lifetime annuity to cover basic expenses, such as food and housing.
Dozens of you had never heard of income annuities, and several said your insurance agent couldn't find any that increase payments to counteract inflation. If so, find another agent...
Chicago Tribune: Income annuities more insurance of money for life than investment
Immediate-income annuities are policies issued by insurance companies that, in exchange for a lump-sum premium, can guarantee an income for life. Many financial advisers recommend retirees consider using a portion of their savings to buy a lifetime annuity to cover basic expenses, such as food and housing.
Dozens of you had never heard of income annuities, and several said your insurance agent couldn't find any that increase payments to counteract inflation. If so, find another agent...
Chicago Tribune: Income annuities more insurance of money for life than investment
Permalink posted by markw @ 4:39 AM
Friday, January 18, 2008
Nationwide Insurance Cuts, Moves Jobs
Nationwide Insurance says it will cut or move 1,000 jobs, or almost 3 percent of its work force, in a bid to reduce costs and stay in position for long-term growth amid a weakening economy and tough competition, a spokesman said Thursday...
Chronicle: Nationwide Insurance Cuts, Moves Jobs
Chronicle: Nationwide Insurance Cuts, Moves Jobs
Permalink posted by markw @ 11:29 AM
Deal fees under fire
At every level of the financial system, key players -- from deal makers on Wall Street and in the City of London to local brokers like Mr. Schmidt -- often get a cut of what a transaction is supposed to be worth when first structured, not what it actually delivers in the long term...
Now, as the bond market wobbles, takeover deals unravel and mortgages sour, the situation is spurring a re-examination of how financiers get paid and whether the incentives the pay structure creates need to be modified. This week, Congress asked three prominent executives to testify about their pay packages...
WSJ: Deal fees under fire
Now, as the bond market wobbles, takeover deals unravel and mortgages sour, the situation is spurring a re-examination of how financiers get paid and whether the incentives the pay structure creates need to be modified. This week, Congress asked three prominent executives to testify about their pay packages...WSJ: Deal fees under fire
Permalink posted by markw @ 4:48 AM
Older women get less -- or no -- pensions
Gender is a strong factor in determining the likelihood of whether a worker age 50 and older receives an annuity or company-sponsored pension, a study released today shows... Published by nonpartisan Washington-based Employee Benefit Research Institute, the study showed that women over age 50 in 2006 were much less likely then men to receive an annuity or pension income.
And, if they do receive such income, it was likely to be much smaller...
Investment News: Older women get less — or no — pensions
And, if they do receive such income, it was likely to be much smaller...
Investment News: Older women get less — or no — pensions
Permalink posted by markw @ 4:44 AM
SEC takes strict view on client data
In an argument about a potential violation of a privacy regulation in the brokerage industry, the SEC is taking an extremely strict and narrow view of how registered representatives can use client information when they switch firms...
Investment News: SEC takes strict view on client data
Investment News: SEC takes strict view on client data
Permalink posted by markw @ 4:42 AM
MIB Life Index Reports North American Life Insurance Activity off 2.0% in November
North American application activity for individually underwritten life insurance declined -2.0% in November year-over-year, according to the MIB Life Index(SM). Year-to-date (YTD) U.S. and Canadian application activity was off -2.8% compared to the same period last year.
U.S. application activity in November was off -2.8% year-over-year, all ages combined. Declining activity was seen in the 0-44 and 45-59 age groups off -3.7% and -2.2% respectively...
Insurance News Net: MIB Life Index Reports North American Life Insurance Activity off 2.0% in November
U.S. application activity in November was off -2.8% year-over-year, all ages combined. Declining activity was seen in the 0-44 and 45-59 age groups off -3.7% and -2.2% respectively...
Insurance News Net: MIB Life Index Reports North American Life Insurance Activity off 2.0% in November
Permalink posted by markw @ 4:35 AM
Wednesday, January 16, 2008
LOMA's Resource Forecast: Flat Sales Predicted for Life Industry
The life insurance industry should experience flat to modest overall sales increases in 2008, according to the Industry Forecast conducted by LOMA's Resource magazine. Resource recently invited insurance industry leaders to share their thoughts about what awaits the industry in the new year, and what companies can do to best prepare for the tasks that lie ahead. Here is a summary of the results: *Overall sales and profits will likely remain flat or increase very modestly. Universal life products and variable annuities look very promising.
LOMA's Resource Forecast: Flat Sales Predicted for Life Industry
Source: PR Newswire
LOMA's Resource Forecast: Flat Sales Predicted for Life Industry
Source: PR Newswire
Permalink posted by armandn @ 7:57 AM
Life Industry Welcomes FINRA Delay on Variable Annuity Rule
Life insurers and securities broker-dealers are looking favorably on the Financial Industry Regulatory Authority's recent decision to delay adoption of a new rule governing variable annuity sales, hoping the additional time might allow for tweaks to provisions dealing with principal review and suitability tests.
Life Industry Welcomes FINRA Delay on Variable Annuity Rule
Source: AM Best (subscription required)
Life Industry Welcomes FINRA Delay on Variable Annuity Rule
Source: AM Best (subscription required)
Permalink posted by armandn @ 7:56 AM
Affluent Seniors Tend Finances Online
Thirty-two percent of investors above the age of 70 and with more than $500,000 in investable assets are spending a third of their time on financial pursuits, compared with only 13% of affluent online users younger than 70, according to The Spectrem Report released this morning. Even more notably, seniors with an income exceeding $150,000 spend almost half of their time online (49%) on financial matters.
Affluent Seniors Tend Finances Online
Source: Financial Planning
Affluent Seniors Tend Finances Online
Source: Financial Planning
Permalink posted by armandn @ 7:55 AM
When You Die, Will Your Life Insurance Be Found?
Thousands of families cannot find their policies thus billions of dollars are lost! How do you avoid this sad ending?
http://www.findyourpolicy.com/ will assure members their inheritance can be found.
FindYourPolicy.com was founded by Michael Hartmann, a life insurance professional who knows of misfortunes caused by lost or "unknown" life insurance policies. http://www.findyourpolicy.com/ provides secure storage of information. Some families live so far apart, keeping records up to date, shared with loved ones and still secure is very difficult. Do your loved ones know where your records are? Will they know 10 years from now? Your loved ones need a proactive way to be kept informed and up to date so your estate is passed on. This proactive approach prompts you to make the updates for estate planning, family and address changes, etc.
When You Die, Will Your Life Insurance Be Found?
Source: Insurance News Net
http://www.findyourpolicy.com/ will assure members their inheritance can be found.
FindYourPolicy.com was founded by Michael Hartmann, a life insurance professional who knows of misfortunes caused by lost or "unknown" life insurance policies. http://www.findyourpolicy.com/ provides secure storage of information. Some families live so far apart, keeping records up to date, shared with loved ones and still secure is very difficult. Do your loved ones know where your records are? Will they know 10 years from now? Your loved ones need a proactive way to be kept informed and up to date so your estate is passed on. This proactive approach prompts you to make the updates for estate planning, family and address changes, etc.
When You Die, Will Your Life Insurance Be Found?
Source: Insurance News Net
Permalink posted by armandn @ 7:55 AM
Prudential Can Help Americans Create A Retirement Income Program and Guarantee It For Life
Prudential Financial, Inc. today urged Americans who are thinking about retiring in the next few years to consider a whole new approach to turning their hard-earned retirement savings into a lifetime of income. As the first wave of America’s 76 million Baby Boomers embark on their latest life adventure – retirement – they will face the responsibility of converting their savings into a paycheck while still making their nest egg grow – a challenge complicated by the ongoing volatility in the marketplace. Based on the unique perspective gained in its 132-year history in managing money, risk, and mortality, Prudential suggests Boomers require a radical, fresh method to generating income while living in retirement.
Prudential Can Help Americans Create A Retirement Income Program and Guarantee It For Life
Source: Business Wire
Prudential Can Help Americans Create A Retirement Income Program and Guarantee It For Life
Source: Business Wire
Permalink posted by armandn @ 7:54 AM
Tuesday, January 15, 2008
AXA Equitable Offers Clients a Way to Increase Their Life Policy's Cash Surrender Value
Sometimes liquidity is an issue when wealthy individuals or businesses require substantial amounts of life insurance protection. That's why AXA Equitable introduced today in approved jurisdictions a new Cash Value Plus Rider on its Athena Universal Life Death Benefit product (Athena UL-DB CVPlus Rider). Whether it's protecting a family's financial future or a successful business, the CVPlus Rider reduces the need to tie up other assets or obtain letters of credit as collateral when financing life insurance. The announcement was made by Claude Methot, Senior Vice President and Chief Product Officer of AXA Equitable.
AXA Equitable Offers Clients a Way to Increase Their Life Policy's Cash Surrender Value
Source: Yahoo! Finance
AXA Equitable Offers Clients a Way to Increase Their Life Policy's Cash Surrender Value
Source: Yahoo! Finance
Permalink posted by armandn @ 12:31 PM
Manulife Investments Soars Through $3 Billion in Sales for Canada's First Guaranteed Minimum Withdrawal Benefit Product
In just more than 14 months since its original launch, sales of GIF Select featuring IncomePlus ended 2007 at almost $3.4 billion. In December alone, sales reached a record $680 million for Canada's first Guaranteed Minimum Withdrawal Benefit (GMWB) product designed to help Canadians save, protect and grow their retirement savings.
Manulife Investments Soars Through $3 Billion in Sales for Canada's First Guaranteed Minimum Withdrawal Benefit Product Source: CNW
Manulife Investments Soars Through $3 Billion in Sales for Canada's First Guaranteed Minimum Withdrawal Benefit Product Source: CNW
Permalink posted by armandn @ 12:28 PM
DALBAR Announces Its 2007 Service Award Winners in Financial Services
Today DALBAR released the 2007 winners of its annual Service Awards. For more than a decade, DALBAR has conducted rigorous testing of service delivery and, each year, identified those mutual fund, broker/dealer, annuity, life insurance and retirement plan providers that are able to deliver industry-leading service to their customers.
DALBAR Announces Its 2007 Service Award Winners in Financial Services
Source: PR Web
DALBAR Announces Its 2007 Service Award Winners in Financial Services
Source: PR Web
Permalink posted by armandn @ 12:27 PM
Just Put It On My 401(k) Debit Card
Borrowing against your nest egg is becoming as easy as stopping at an ATM.
A growing number of companies now offer employees the option of being issued a debit card that taps a 401(k) loan. The card, called ReservePlus, allows workers to withdraw funds from their 401(k)s.
Just Put It On My 401(k) Debit Card
Source: Insurance News Net
A growing number of companies now offer employees the option of being issued a debit card that taps a 401(k) loan. The card, called ReservePlus, allows workers to withdraw funds from their 401(k)s.
Just Put It On My 401(k) Debit Card
Source: Insurance News Net
Permalink posted by armandn @ 12:25 PM
Monday, January 14, 2008
USA Today to Report Special Series "Turning 62: The Retirement Boom Begins"
The oldest members of the largest generation in U.S. history began turning 62 on Jan. 1, becoming the first of the 79 million baby boomers to be eligible to retire with government benefits. This week, USA TODAY examines the consequences as 2.8 million 62-year-olds ponder retirement, in a series called "Turning 62: The Retirement Boom Begins."
USA Today to Report Special Series "Turning 62: The Retirement Boom Begins"
Source: PR Newswire
USA Today to Report Special Series "Turning 62: The Retirement Boom Begins"
Source: PR Newswire
Permalink posted by armandn @ 12:22 PM
SBLI Lines Up XXX Backing
Despite the turmoil in the investment markets, a life insurer has succeeded at funding more of its reserve requirements.
Savings Bank Life Insurance Company of Massachusetts, Woburn, Mass., has worked with a unit of Swiss Reinsurance Company, Zurich, to securitize up to $175 million in reserves needed to comply with the term life reserve requirements included in Regulation XXX.
SBLI Lines Up XXX Backing
Source: National Underwriter (subscription required)
Savings Bank Life Insurance Company of Massachusetts, Woburn, Mass., has worked with a unit of Swiss Reinsurance Company, Zurich, to securitize up to $175 million in reserves needed to comply with the term life reserve requirements included in Regulation XXX.
SBLI Lines Up XXX Backing
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 12:21 PM
Start An Encore Career
To earn money or keep their hand in the game, many retirees head back to work or start their own businesses.
It took Jay Franklin ten years and three attempts to actually retire. "I flunked retirement. . . twice," jokes Franklin, 69, a hard-charging former sales executive from Thornton, Pa.
Start An Encore Career
Source: Yahoo! Finance
It took Jay Franklin ten years and three attempts to actually retire. "I flunked retirement. . . twice," jokes Franklin, 69, a hard-charging former sales executive from Thornton, Pa.
Start An Encore Career
Source: Yahoo! Finance
Permalink posted by armandn @ 12:19 PM
Lifetime Annuity Can Cover Basic Expenses
Immediate income annuities are policies issued by insurance companies that, in exchange for a lump-sum premium, can guarantee an income for life. Many financial advisers recommend retirees consider using a portion of their savings to buy a lifetime annuity to cover basic expenses, such as food and housing.
Lifetime Annuity Can Cover Basic Expenses
Source: Insurance News Net
Lifetime Annuity Can Cover Basic Expenses
Source: Insurance News Net
Permalink posted by armandn @ 12:16 PM
AXA Equitable Launches Third Distribution Channel
AXA Equitable Life Insurance Co. announced today that it has launched a new distribution channel, Corporate Markets, focused on providing retirement plan strategies and solutions for Fortune 1000 corporations and their employees. The announcement was made by Christopher "Kip" Condron, Chairman and Chief Executive Officer of AXA Equitable.
AXA Equitable Launches Third Distribution Channel
Source: Earthtimes
AXA Equitable Launches Third Distribution Channel
Source: Earthtimes
Permalink posted by armandn @ 12:14 PM
Friday, January 11, 2008
Prudential Financial Enhances Its Universal Life Insurance Product
Prudential Financial, Inc. announced today that it has improved its cash value accumulation universal life insurance product, PruLife® UL Plus. Enhancements to the product have also resulted in improved cash values and longer no-lapse guarantee periods. The Short-Term No-Lapse guarantee period is now 10 years for all ages. The Limited No-Lapse Guarantee Period is 25 years or age 75, whichever comes first, but never less than 10 years.
Prudential Financial Enhances Its Universal Life Insurance Product
Source: Business Wire
Prudential Financial Enhances Its Universal Life Insurance Product
Source: Business Wire
Permalink posted by armandn @ 12:45 PM
A New Approach to Selling Worksite Long-Term Care Insurance
The good news is sales of worksite long-term care insurance (LTCi) are expected to rise beginning in 2009 and continuing into 2010 due to the provisions in the Pension Protection Act of 2006. The bad news is until then worksite LTCi will still require a lot of selling effort.
A New Approach to Selling Worksite Long-Term Care Insurance
Source: Insurance News Net
A New Approach to Selling Worksite Long-Term Care Insurance
Source: Insurance News Net
Permalink posted by armandn @ 12:44 PM
Life Brokerage Partners Add New Insurance Carriers
Life Brokerage Partners announces three new carrier relationships with Midland National, National Life Group and Nationwide. With these new additions, Life Brokerage Partners provides their agents access to products at some of the most exclusive national insurance carriers and increases their strength as a national insurance brokerage agency.
Life Brokerage Partners Add New Insurance Carriers
Source: PR Newswire
Life Brokerage Partners Add New Insurance Carriers
Source: PR Newswire
Permalink posted by armandn @ 12:44 PM
Bank of America to Buy Countrywide Financial
Bank of America Corp. said on Friday it's purchasing Countrywide Financial Corp. for $4 billion, effectively doubling down on a previous investment in the troubled firm and catapulting the buyer into the top spot among mortgage lenders and loan servicers in the U.S.
Bank of America to Buy Countrywide Financial
Source: MarketWatch
Bank of America to Buy Countrywide Financial
Source: MarketWatch
Permalink posted by armandn @ 12:39 PM
Thursday, January 10, 2008
Insurance Company Warns Baby Boomers to Plan Ahead on Life Insurance
Platinum Insurance, an online source for life insurance information and policies, is responding to a recent study by America's Health Insurance Plans that reported a startling statistic that baby boomers have not focused on planning for long-term care expenses. With the misconception that long-term care costs will be covered by Medicare or another form of health insurance, Platinum Insurance is being proactive and helping many seniors adjust their plans.
Most experts agree that this is an oversight that could have financially devastating consequences if gone unfixed. When looking at benefits of any life insurance policy, many people are only looking at benefits in the moment. The reality is that most health insurance plans do not cover long-term care expenses.
Insurance Company Warns Baby Boomers to Plan Ahead on Life Insurance
Source: PR Web
Most experts agree that this is an oversight that could have financially devastating consequences if gone unfixed. When looking at benefits of any life insurance policy, many people are only looking at benefits in the moment. The reality is that most health insurance plans do not cover long-term care expenses.
Insurance Company Warns Baby Boomers to Plan Ahead on Life Insurance
Source: PR Web
Permalink posted by armandn @ 10:28 AM
Sun Life Financial Wins DALBAR Service Award for Third Consecutive Year
The U.S. division of Sun Life Financial Inc. has been awarded its third consecutive DALBAR Financial Intermediary Post-Sale Service Award for 2007. DALBAR, a firm that provides research and ratings on customer satisfaction and service in the financial services industry, annually honors financial companies that consistently exceed industry standards in post-sale servicing for brokers and broker dealers.
Sun Life Financial Wins DALBAR Service Award for Third Consecutive Year
Source: Business Wire
Sun Life Financial Wins DALBAR Service Award for Third Consecutive Year
Source: Business Wire
Permalink posted by armandn @ 10:26 AM
A Deferred Annuity Can Reduce Income Taxes on Social Security Benefits
AnnuityAdvantage.com announced today that it has acquired software that can analyze an individual's financial position and offer tax-savings recommendations. This new software pinpoints the tax-savings strategy of buying a deferred annuity for those receiving Social Security benefits.
A Deferred Annuity Can Reduce Income Taxes on Social Security Benefits
Source: PR Web
A Deferred Annuity Can Reduce Income Taxes on Social Security Benefits
Source: PR Web
Permalink posted by armandn @ 10:24 AM
Consumer Credit Counseling Service and MassMutual Team Up to Enable Families to Apply...
Consumer Credit Counseling Service (CCCS) announced today it is teaming up with MassMutual Financial Group to offer eligible families free $50,000 term life insurance policies under MassMutual's LifeBridge(sm) Free Life Insurance Program. If an insured parent or legal guardian passes away during the 10-year term of the policy, Massachusetts Mutual Life Insurance Company (MassMutual) will put $50,000 in trust to pay solely for the educational expenses of dependent children.
Consumer Credit Counseling Service and MassMutual Team Up to Enable Families to Apply
Source: Reuters
Consumer Credit Counseling Service and MassMutual Team Up to Enable Families to Apply
Source: Reuters
Permalink posted by armandn @ 10:06 AM
Wednesday, January 09, 2008
Sun Life Financial Introduces Customized Version of its Masters Variable Annuity Suite Exclusively for Huntington Bank
The U.S. division of Sun Life Financial, Inc. today introduced a customized version of its Masters variable annuities suite available exclusively through Huntington Bank, a $55 billion regional bank holding company in the Midwest. The proprietary products include 10 Huntington Bank VA Funds as additional investment options to appeal to Huntington Bank’s customers when choosing asset allocations.
Sun Life Financial Introduces Customized Version of its Masters Variable Annuity Suite Exclusively for Huntington Bank
Source: Yahoo! Finance
Sun Life Financial Introduces Customized Version of its Masters Variable Annuity Suite Exclusively for Huntington Bank
Source: Yahoo! Finance
Permalink posted by armandn @ 11:58 AM
Nationwide Financial Unveils 'YourLife' Survivorship Universal Life Insurance
Providing solutions to complex problems is the hallmark of life insurance products from Nationwide Financial Services, Inc. Following its recently updated Whole and Term Life products, the company today unveiled Nationwide YourLife SUL, a lower-cost, low-maintenance, life insurance product that offers death benefit protection, a no-lapse guarantee and unique legacy, estate and business planning solutions. Protections and guarantees are subject to the claims-paying ability of the issuing life insurance company.
Nationwide Financial Unveils 'YourLife' Survivorship Universal Life Insurance
Source: Reuters
Nationwide Financial Unveils 'YourLife' Survivorship Universal Life Insurance
Source: Reuters
Permalink posted by armandn @ 11:56 AM
Life Insurance Makeover
Now may be the time to get your clients more life insurance: In 2008, life-insurance premiums will be 11 percent lower than they were two years ago - and half of what they were a decade ago, according to the Insurance Information Institute. Meanwhile, new product features that give individuals more flexibility and guarantees have been developed and are gaining popularity.
Life Insurance Makeover
Source: Insurance News Net
Life Insurance Makeover
Source: Insurance News Net
Permalink posted by armandn @ 11:55 AM
The 10 Commandments of Estate Planning
Observations over a long period, coupled with the recognition of common themes and patterns, bring the appearance of “wisdom.” After 35 years in financial services, my estate planning wisdom comes to this: Clients make estate planning too simple — it’s more than simply about death, taxes, and probate. And advisors make estate planning too complicated — it’s more than simply about asset values, taxes, and complex planning strategies.
The 10 Commandments of Estate Planning
Source: Life Insurance Selling
The 10 Commandments of Estate Planning
Source: Life Insurance Selling
Permalink posted by armandn @ 11:53 AM
Tuesday, January 08, 2008
Effective Wealth Preservation in an Era of Estate Tax Uncertainty - and Beyond
Congress’ inability to finalize the estate tax repeal issue has haunted federal estate tax law since the passage of the Economic Growth and Tax Relief Reconciliation Act of 2001, along with the Byrd Amendment’s required “Sunset Provision.” For many wealthy individuals and families, this has slammed the brakes on planning efforts, despite their great need for effective planning.
Effective Wealth Preservation in an Era of Estate Tax Uncertainty - and Beyond
Source: Life Insurance Selling
Effective Wealth Preservation in an Era of Estate Tax Uncertainty - and Beyond
Source: Life Insurance Selling
Permalink posted by armandn @ 7:36 AM
Advisers ponder whether to sell annuities
Now that annuities are becoming accepted as part of an overall retirement income program, fee-only planners are wondering whether they should sell the products themselves or refer sales to outside agents.
"There's more pressure brought to bear" to offer annuities, said P.J. DiNuzzo, president and chief investment officer of DiNuzzo Investment Advisors Inc. of Beaver, Pa. The fee-only firm, which manages $250 million, farms out the sales of all insurance products to agents but may offer annuities in-house within the next three to five years.
Advisers ponder whether to sell annuities
Source: Investment News (subscription required)
"There's more pressure brought to bear" to offer annuities, said P.J. DiNuzzo, president and chief investment officer of DiNuzzo Investment Advisors Inc. of Beaver, Pa. The fee-only firm, which manages $250 million, farms out the sales of all insurance products to agents but may offer annuities in-house within the next three to five years.
Advisers ponder whether to sell annuities
Source: Investment News (subscription required)
Permalink posted by armandn @ 7:35 AM
The Jigsaw Puzzle of the Charitable Life Estate
Contemplating an estate plan is a little bit like trying to construct a jigsaw puzzle: The clearer the picture you have of the desired outcome, the easier it is to construct. Often, a piece of the puzzle that is overlooked is the residence. Many parents mistakenly believe that their children will “want the home.” In today’s environment, it’s more likely that the family is geographically dispersed and the children would be more pleased with receiving the value of the home and its important and memorable contents, rather than the house itself.
The Jigsaw Puzzle of the Charitable Life Estate
Source: Insurance News Net
The Jigsaw Puzzle of the Charitable Life Estate
Source: Insurance News Net
Permalink posted by armandn @ 7:34 AM
Phoenix Companies Selects Aveska Enterprise Governance Platform
Aveksa, Inc., the market-leading provider of enterprise access governance solutions, today announced that The Phoenix Companies, Inc. has selected the Aveksa Access Governance Platform to automate its access review and compliance certification processes, and to provide continuous role lifecycle management across its entire organization. The Aveksa Access Governance Platform is comprised of the Aveksa Compliance Manager, which automates the monitoring, reporting, certification and remediation of user entitlements, and the Aveksa Role Manager, which enables role discovery, modeling and maintenance.
Phoenix Companies Selects Aveska Enterprise Governance Platform
Source: Business Wire
Phoenix Companies Selects Aveska Enterprise Governance Platform
Source: Business Wire
Permalink posted by armandn @ 7:31 AM
USAData Client Service Named "Outstanding" by Western-Southern Life Insurance
USADATA's reputation for client service received a boost with recent praise for its team of Data Specialists. USADATA offers high quality sales leads and mailing lists through a team of Data Specialists and through its On Demand platforms, allowing clients to choose between expert personal service or user-friendly self-service solutions, depending on their preferences and project needs.
USAData Client Service Named "Outstanding" by Western-Southern Life Insurance
Source: Reuters
USAData Client Service Named "Outstanding" by Western-Southern Life Insurance
Source: Reuters
Permalink posted by armandn @ 7:30 AM
Monday, January 07, 2008
Conning Research: Successful Small Life Companies Share Winning Strategies
A number of successful small life companies continue to thrive despite consolidation in the market, according to a new study by Conning Research and Consulting. "Small life insurers are often regional players that serve an important role in their communities, or serve niche markets that are commonly overlooked by larger companies," said Terence Martin, vice president at Conning Research & Consulting. "Their ability to survive and thrive can also point to strategies that may be appropriate for companies of any size."
Conning Research: Successful Small Life Companies Share Winning Strategies
Source: PR Newswire
Conning Research: Successful Small Life Companies Share Winning Strategies
Source: PR Newswire
Permalink posted by armandn @ 7:28 AM
MIB Life Index Reports North American Life Insurance Activity off 2.0% in November
North American application activity for individually underwritten life insurance declined -2.0% in November year-over-year, according to the MIB Life Index. Year-to-date (YTD) U.S. and Canadian application activity was off -2.8% compared to the same period last year.
MIB Life Index Reports North American Life Insurance Activity off 2.0% in November
Source: Reuters
MIB Life Index Reports North American Life Insurance Activity off 2.0% in November
Source: Reuters
Permalink posted by armandn @ 7:28 AM
Variable Annuity Ownership: Who's Too Old? (Part 2)
Part One of this article, which appeared last month, discussed how the lack of knowledge that members of the media and state regulators have regarding the various types of annuities actually adds to investor confusion and may result in more harm coming to senior investors than might result from an improper annuity sale. Part One also examined three of the most common complaints made regarding variable annuity sales to senior investors, showing that these complaints are exaggerations made by individuals who know little about variable annuities.
Variable Annuity Ownership: Who's Too Old? (Part 2)
Source: Life Insurance Selling
Variable Annuity Ownership: Who's Too Old? (Part 2)
Source: Life Insurance Selling
Permalink posted by armandn @ 7:27 AM
Will Estate Planning Ever Go Out of Style?
Estate planning won’t go out of style even in the event that the federal estate tax is fully repealed in 2010. That’s because there is more to estate planning than reducing the sting of the inheritance tax.
Will Estate Planning Ever Go Out of Style?
Source: Insurance News Net
Will Estate Planning Ever Go Out of Style?
Source: Insurance News Net
Permalink posted by armandn @ 7:26 AM
Friday, January 04, 2008
The Oldest Boomers Are More Set for Retirement Than Thought
Breathe a sigh of relief. The nation's leading-edge baby boomers -- about 3 million strong -- are turning 62 this year and, contrary to popular opinion, they are not in desperate straits.
In fact, Americans born in 1946 are in relatively good financial shape and seemingly entirely different from other boomers. Maybe that's because only 2% of them report that they attended Woodstock.
The Oldest Boomers Are More Set for Retirement Than Thought
Source: Insurance News Net
In fact, Americans born in 1946 are in relatively good financial shape and seemingly entirely different from other boomers. Maybe that's because only 2% of them report that they attended Woodstock.
The Oldest Boomers Are More Set for Retirement Than Thought
Source: Insurance News Net
Permalink posted by armandn @ 7:44 AM
More States May Clamp Down on Improper Asset Transfers
Elder-law attorneys are concerned that the new year will bring new rules in a number of states regarding how — and if — immediate annuities can work with Medicaid eligibility and planning.
Brokers and advisers who are unaware of these rules could inadvertently sell products at odds with state law, possibly resulting in clients' losing publicly funded long-term-care services, attorneys said.
More States May Clamp Down on Improper Asset Transfers
Source: Investment News (subscription required)
Brokers and advisers who are unaware of these rules could inadvertently sell products at odds with state law, possibly resulting in clients' losing publicly funded long-term-care services, attorneys said.
More States May Clamp Down on Improper Asset Transfers
Source: Investment News (subscription required)
Permalink posted by armandn @ 7:43 AM
Jackson National Expands Retail Mutual Fund Offering with New Portfolios
Jackson National Life Insurance Company® (Jackson) today announced the addition of two new portfolios to the existing lineup of mutual funds (Jackson Funds) available to advisors through Jackson National Life Distributors LLC (JNLD). Jackson Funds now offer seven distinct strategies, each designed to address the diversification and asset growth potential of investors as they navigate the retirement planning process.
Jackson National Expands Retail Mutual Fund Offering with New Portfolios
Source: Business Wire
Jackson National Expands Retail Mutual Fund Offering with New Portfolios
Source: Business Wire
Permalink posted by armandn @ 7:41 AM
ING Direct Quietly Extends Global Reach
Consistency seems to be Dick Harryvan's favourite word. The ING board member responsible for ING Direct believes that sticking to a simple recipe has allowed the Dutch banking and insurance group to build the world's biggest direct bank almost unnoticed.
Launched just over 10 years ago in Canada, ING Direct has grown to 20m customers in nine countries with deposits of €210bn ($309.4bn) and mortgages of close to €90bn. Everywhere except Germany that growth has been organic, and in many markets the ING brand was all but unknown previously.
ING Direct Quietly Extends Global Reach
Source: FT.com
Launched just over 10 years ago in Canada, ING Direct has grown to 20m customers in nine countries with deposits of €210bn ($309.4bn) and mortgages of close to €90bn. Everywhere except Germany that growth has been organic, and in many markets the ING brand was all but unknown previously.
ING Direct Quietly Extends Global Reach
Source: FT.com
Permalink posted by armandn @ 7:40 AM
Thursday, January 03, 2008
MetLife Named Best Managed Insurance Company by Forbes
MetLife, Inc. has been named to Forbes’ list of America’s 400 Best Big Companies for 2008 and was also selected as the best managed company in the insurance industry. This is the first time the company has been selected as the best managed in its industry by Forbes and the third time MetLife has appeared on the list.
MetLife Named Best Managed Insurance Company by Forbes
Source: Yahoo! Finance
MetLife Named Best Managed Insurance Company by Forbes
Source: Yahoo! Finance
Permalink posted by armandn @ 7:48 AM
Betting on Longevity Growth and Guarantees Will Anchor the Next Retirement Products Trend
The growing retirement needs of baby boomers are fueling the next megatrend in the industry-tighter integration between insurance and investment management companies. And that's welcome news for financial advisors.
Betting on Longevity Growth and Guarantees Will Anchor the Next Retirement Products Trend
Source: Insurance News Net
Betting on Longevity Growth and Guarantees Will Anchor the Next Retirement Products Trend
Source: Insurance News Net
Permalink posted by armandn @ 7:47 AM
LINQ Financial Group Fuels the Growth of the Region's Hispanic Market by Affiliating with Mass Mutual
LINQ Financial Group today announced its affiliation as a general agency with Massachusetts Mutual Life Insurance Company (MassMutual), better positioning the Dade County firm to expand its financial services to the ever-expanding needs of the Hispanic market.
LINQ Financial Group Fuels the Growth of the Region's Hispanic Market by Affiliating with Mass Mutual
Source: PR Newswire
LINQ Financial Group Fuels the Growth of the Region's Hispanic Market by Affiliating with Mass Mutual
Source: PR Newswire
Permalink posted by armandn @ 7:46 AM
Reluctant Retirement Savers May Be Scared Straight by These Stats
What's the best way to motivate Americans to save, invest and prepare for retirement? Some behavioral finance experts suggest using the carrot. Others suggest using the stick. And still others suggest using a combination of carrot and stick.
Reluctant Retirement Savers May Be Scared Straight by These Stats
Source: MarketWatch
Reluctant Retirement Savers May Be Scared Straight by These Stats
Source: MarketWatch
Permalink posted by armandn @ 7:45 AM
Wednesday, January 02, 2008
AEGON and Merrill Lynch Finalize Strategic Relationship; AEGON Completes Acquisition of Merrill Lynch Life Insurance Companies
AEGON and Merrill Lynch announced today they have finalized their agreement to form a strategic business relationship in the areas of insurance and investment products. AEGON USA, Inc. also completed the acquisition of Merrill Lynch Life Insurance Company and ML Life Insurance Company of New York for USD 1.25 billion in cash. The purchase price includes excess surplus of approximately USD 425 million.
AEGON and Merrill Lynch Finalize Strategic Relationship; AEGON Completes Acquisition of Merrill Lynch Life Insurance Companies Source: PR Newswire
AEGON and Merrill Lynch Finalize Strategic Relationship; AEGON Completes Acquisition of Merrill Lynch Life Insurance Companies Source: PR Newswire
Permalink posted by armandn @ 7:08 AM
Falling Premiums, Product Innovations and Advances in Underwriting Make 2008 An Ideal Time for Consumers to Purchase Life Insurance
Along with eating healthier and hitting the gym, here's a New Year's resolution to add to your list: buy life insurance. If you're like most Americans, you know you need more than you currently have. As unpleasant as it may seem to contemplate your mortality, here's some extra motivation for you. Thanks to decreasing premiums, product innovations and changes in underwriting practices, there is no reason to put it off any longer.
Falling Premiums, Product Innovations and Advances in Underwriting Make 2008 An Ideal Time for Consumers to Purchase Life Insurance
Source: Insurance News Net
Falling Premiums, Product Innovations and Advances in Underwriting Make 2008 An Ideal Time for Consumers to Purchase Life Insurance
Source: Insurance News Net
Permalink posted by armandn @ 7:07 AM
Make "Financial Fitness" Your Goal for 2008
When the New Year's parties are over and the rich foods and gooey desserts have been put away, most of us start thinking about getting our bodies back in shape. But how "fit" are the other parts of your life -- such as your finances -- for the year ahead?
Make "Financial Fitness" Your Goal for 2008
Source: Missouri Times Courier
Make "Financial Fitness" Your Goal for 2008
Source: Missouri Times Courier
Permalink posted by armandn @ 7:05 AM
Small Business Owners Ignore Workers at Peril
If you are a small business owner, chances are you dream about the future. You may think of yourself networking with industry leaders, cornering the market with an innovative service or directing hundreds of employees.
Small Business Owners Ignore Workers at Peril
Source: Baltimore Sun
Small Business Owners Ignore Workers at Peril
Source: Baltimore Sun
Permalink posted by armandn @ 7:03 AM
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