Monday, March 31, 2008

 

Why You Need Long-Term Care Insurance

The long-term care crisis is upon us -- don't say you weren't warned.

The government is already having trouble paying the cost of long-term care for the indigent elderly.

Why You Need Long-Term Care Insurance
Source: The Street

 

Northwestern Mutual Helps Consumers 'Let Worries Go' with Choice of Virtual Catapult, Rocket Ship, Submarine or Hot Air Balloon

Northwestern Mutual, the proverbial Quiet Company, is turning up the volume with http://www.letyourworriesgo.com, an interactive website that will empower people to let go of their worries using a medieval catapult, rocket ship, submarine or hot air balloon. To address the most frequent societal worries selected by the public, the Northwestern Mutual Foundation will then donate $1 million to charities supporting these causes.

Northwestern Mutual Helps Consumers 'Let Worries Go' with Choice of Virtual Catapult, Rocket Ship, Submarine or Hot Air Balloon
Source: PR Newswire

 

Most Sweeping Overhaul of Financial Regulation Since Great Depression Being Proposed

The Bush administration is trying to confront the credit crisis that has rattled nerves across the U.S. by proposing wholesale changes in how Washington oversees the financial system.

A plan set for release Monday would give new powers to the Federal Reserve so that the central bank serves as the system's overarching protector of stability.

Most Sweeping Overhaul of Financial Regulation Since Great Depression Being Proposed
Source: Insurance News Net

 

“Test the True Power of Tax-Deferral” with Jefferson National’s Flat-Insurance Fee VA

On a mission to help Americans save more for retirement, Jefferson National invites consumers and advisors to “Test the True Power of Tax-Deferral” at http://www.jeffnat.com. This simple, unbiased, online tool illustrates tax-deferral’s true power to help meet the retirement income challenge by comparing the performance of a taxable account versus Jefferson National’s Monument Advisor, the first variable annuity with a flat-insurance fee of $20 per month and the industry’s broadest selection of more than 175 underlying tax-deferred funds.

“Test the True Power of Tax-Deferral” with Jefferson National’s Flat-Insurance Fee VA
Source: Business Wire

Friday, March 28, 2008

 

6 Blunders that Ruin Retirement Plans

Regular contributions to an IRA or 401(k) are a good start, but accumulating money is only part of the retirement-planning equation. Securing a comfortable retirement is a tricky process that requires careful planning; a few bad moves can cost you dearly in the long run. Here are six common missteps...
6 Blunders that Ruin Retirement Plans
Source: U.S. News

 

I.I.I.'s Chief Economist Featured on PBS's 'Retirement Revolution'

Dr. Steven Weisbart, the Insurance Information Institute’s chief economist, is appearing on PBS’s Retirement Revolution, a two-hour documentary on the financial challenges and options facing Americans born between 1946 and 1964, the so-called baby boom generation. The program debuts nationally on Monday, March 31.

I.I.I.'s Chief Economist Featured on PBS's 'Retirement Revolution'
Source: Insurance News Net

 

New York Life Reports Record-Setting Operating Earnings, Surplus, Insurance Sales, Investment Sales and Operating Income in 2007

New York Life Insurance Company, America’s largest mutual life insurance company, set new records in 2007 for sales of insurance and investment products, as well as reached new highs in operating earnings, surplus, operating revenue, and assets under management.

New York Life Reports Record-Setting Operating Earnings, Surplus, Insurance Sales, Investment Sales and Operating Income in 2007
Source: Business Wire

Thursday, March 27, 2008

 

MassMutual Launches Recruiting Web Site for New Agents, Casting 'Net' for Best and Brightest

Building on several years of successful efforts to recruit and retain top financial services professionals, Massachusetts Mutual Life Insurance Co. (MassMutual) today unveiled a creative, new Web site that introduces career changers, industry veterans and college graduates to a career with MassMutual through the eyes and words of its agents.

MassMutual Launches Recruiting Web Site for New Agents, Casting 'Net' for Best and Brightest
Source: PR Newswire

 

Phoenix Prepares to Launch Life Settlement Business

Phoenix Life Insurance Company may open its life settlement business in the next 3 weeks.

Phoenix Prepares to Launch Life Settlement Business
Source: National Underwriter (subscription required)

 

Insights on Paying for Boomers' Care Needs in 20-40 Years Helped by Report

The first comprehensive review and analysis of research on long-term care financing for America's elderly is now available, the National Investment Center for the Seniors Housing & Care Industry (NIC) announced today. This major undertaking, conducted by RTI International for NIC, involved compiling and analyzing all major studies and projection modeling to date on the issue.

Insights on Paying for Boomers' Care Needs in 20-40 Years Helped by Report
Source: Insurance News Net

 

The Facts About Premium Financing of Life Insurance

Premium financing has become a very important topic in the insurance industry. Premium financing of life insurance is a way for high-net-worth individuals, over the age of 55, to obtain the life insurance coverage they need without having to divest high yielding assets.

The Facts About Premium Financing of Life Insurance
Source: PR Newswire

Wednesday, March 26, 2008

 

MetLife Releases Animated Short Film and Launches New Online Tools to Demystify Insurance and Simplify the Purchasing Process for Consumers

MetLife, the nation’s largest life insurer and leading provider of employee benefits, continued its 140-year tradition of providing education to consumers today when it released a new animated short film entitled “Everybody into the Pool” and launched SimplifiedSM by MetLife, a new online micro site for consumers. The goal of the educational film, which features Snoopy®, is to demystify how insurance works by explaining in layperson’s terms the powerful and efficient financial principle that makes insurance possible and within reach: risk pooling. MetLife is also simplifying the insurance decision-making process for consumers with its new online tools.

MetLife Releases Animated Short Film and Launches New Online Tools to Demystify Insurance and Simplify the Purchasing Process for Consumers
Source: Business Wire

 

Discover Card Launches Insurance Center

Discover Financial Services announced today the launch of the Discover Insurance Center, an easy-to-use Web site that offers consumers auto, homeowner’s, and term life insurance, as well as home warranty plans from trusted, reputable providers.

Discover Card Launches Insurance Center
Source: Business Wire

 

AIG Accuses Other Insurers

American International Group Inc., the insurer that set aside $301 million to repay state workers' compensation programs it shortchanged, said rivals, including Liberty Mutual Group Inc., also duped regulators.

AIG Accuses Other Insurers
Source: Hartford Courant

 

Prudential Financial Outlines Practical Investment Tips You Should Consider in 'The Retirement Zone'

Whether it’s taking stock of all your potential income sources, making sure you don’t miss out on maximum Social Security benefits or figuring out how to fund post-retirement health-care coverage, there are a number of critical investment decisions Americans in The Retirement Red Zone—the five years before and after retirement—should make.

Prudential Financial Outlines Practical Investment Tips You Should Consider in 'The Retirement Zone'
Source: Yahoo! Finance

Tuesday, March 25, 2008

 

Leaving a Legacy With Single Premium Whole Life Insurance

Many parents of baby boomers and boomers themselves have spent their lives working hard, raising children, paying down mortgages, and funding college educations. Along the way, they’ve probably been able to save some money for their retirement years and now want strategies for maximizing what they have. Quite often, the desire to pass along some of their hard-earned money to children, grandchildren, church, or charity is also part of their long-term financial goals.

Leaving a Legacy With Single Premium Whole Life Insurance
Source: Life Insurance Selling

 

Which Life Insurance Is the Right One to Pick?

Term and permanent life insurance policies offer different paths to the same goal: Making certain your loved ones can meet their financial needs should you die.

"We think you ought to buy life insurance if you need the death benefit," said Jeff Sharp, a shareholder in the business consulting and wealth management firm SilverStone Group in Omaha. "You don't buy life insurance primarily as an investment."

Which Life Insurance Is the Right One to Pick?
Source: Insurance News Net

 

Prudential Earns 2008 Marketing Excellence Award from the American Association for Long-Term Care Insurance

Prudential Financial’s ability to deliver industry-leading marketing communications has earned its Group Insurance business unit a 2008 Marketing Excellence Award from The American Association for Long-Term Care Insurance. Prudential’s Group Insurance business unit received the honor for its pre-packaged enrollment campaign, which markets its innovative, group long-term care insurance product specifically designed for small and mid-size U.S. employers. The product makes it easier for these employers to implement and administer a long-term care insurance program. Prudential’s Group Insurance is a business of Prudential Financial, Inc.

Prudential Earns 2008 Marketing Excellence Award from the American Association for Long-Term Care Insurance
Source: Business Wire

 

Retiring in a Bad Economy: Are You in Trouble?

The crumbling economy, volatile stock market and wilting home valuations are affecting just about everyone, but people who are retired or about to retire may be in the most precarious of positions.

Retiring in a Bad Economy: Are You in Trouble?
Source: Yahoo! Finance

Monday, March 24, 2008

 

A Toxic Cocktail? The 'Extreme Makeover' of Annuity Agents into Registered Investment Advisors

Annuity agents are experiencing a continuing disruption of their traditional sales practices that began with the issuance of NASD (FINRA) NTM 05-50 in August 2005. It seems as though everything agents once viewed as stable has come under assault, including their public image, the products they sell, the advice they provide, and the seminars they use — not to mention the increased scrutiny of suitability and compliance standards.

A Toxic Cocktail? The 'Extreme Makeover' of Annuity Agents into Registered Investment Advisors
Source: Life Insurance Selling

 

Older Workers' Financial Literacy In Doubt

April is National Financial Literacy Month, and a lot of effort will be made to teach money issues to children. And that's good; children need to be prepared for the complex financial world that awaits them.

Older Workers' Financial Literacy In Doubt
Source: Hartford Courant

Thursday, March 20, 2008

 

Generations X and Y See Changing Retirement Landscape but Fail to Save Enough

Members of Generations X and Y, acknowledging that they need to pick up the slack when it comes to planning for their futures, are thinking about retirement and have defined financial goals according to a report released today by the Divided We Fail group (AARP, Business Roundtable, National Federation of Independent Business and the Service Employees International Union) and the American Savings Education Council (ASEC).

Generations X and Y See Changing Retirement Landscape But Fail to Save Enough
Source: PR Newswire

 

LOMA Says Life Insurance Industry to Experience Major Changes in Next Decade

Survey conducted by LOMA, a research, consulting and professional development organization, has revealed that in 2018, there will be fewer companies selling a wider selection of products and services to a very different customer than seen traditionally.

LOMA Says Life Insurance Industry to Experience Major Changes in Next Decade
Source: Banking Business Review Online

 

Insurers' Holy Grail: Organic Growth

Industry “followers” can get by with competitive products, strong distribution, and market sensitivity, but those are mostly short-term advantages. Followers will either make themselves leaders, through a long-term strategic vision that produces results, or they will have to “get out of the way” for other emerging companies. This was confirmed, in the view of insurers themselves, in a recent survey by the Robert E. Nolan Company, a management consulting firm that works with more than 500 insurance organizations.

Insurers' Holy Grail: Organic Growth
Source: Life Insurance Selling

Wednesday, March 19, 2008

 

New Connecticut Legislation Good for Life Insurance Customers

A bill was approved by a Connecticut legislative panel this week that will crack down on life insurance scams, which is good news for consumers in the Constitution State. PlatinumInsurance.Info, a Web site that offers services to consumers looking for life insurance, wants to inform the public of how these and any other changes to the industry will affect them.

New Connecticut Legislation Good for Life Insurance Customers
Source: PR Web

 

NAVA Reports Fourth Quarter Variable Annuity Industry Data

NAVA, the Association for Insured Retirement Solutions, announced today fourth quarter results for the variable annuity industry. The combined net assets of U.S. variable annuities of approximately $1.5 trillion were comparable to the end of the third quarter of 2007. Net assets increased by 8.4% relative to the fourth quarter one year ago.

NAVA Reports Fourth Quarter Variable Annuity Industry Data
Source: Business Wire

 

Prudential Financial Outlines Practical Investment Tips You Should Consider in the 'Retirement Zone'

Whether it’s taking stock of all your potential income sources, making sure you don’t miss out on maximum Social Security benefits or figuring out how to fund post-retirement health-care coverage, there are a number of critical investment decisions Americans in The Retirement Red Zone—the five years before and after retirement—should make.

Prudential Financial Outlines Practical Investment Tips You Should Consider in the 'Retirement Zone'
Source: Business Wire

 

The Hartford Starts Marketing Drive

The Hartford Financial Services Group has launched a new multimedia marketing campaign with a commercial that debuted Sunday on CBS Sports' NCAA Basketball Championship Selection Show.

The Hartford Starts Marketing Drive
Source: Hartford Courant

Tuesday, March 18, 2008

 

Thrivent Financial Offers Baby Boomers New Solution to Help Ensure Savings Last Throughout Retirement

Baby boomers, the largest generation in history, are also poised to be the longest-lived generation in human history. While this means they will enjoy the longest retirement ever experienced, they are also the first generation faced with stretching their retirement savings to last 30 years or more—in many cases without the supporting guarantees of their former employer’s defined benefit plan.

Thrivent Financial Offers Baby Boomers New Solution to Help Ensure Savings Last Throughout Retirement
Source: Business Wire

 

Bear Stears Has Been Active in Life Settlement Finance

A unit of the Bear Stearns Companies Inc. is one of the six members of the Institutional Life Markets Association.

Bear Stears Has Been Active in Life Settlement Finance
Source: National Underwriter (subscription required)

 

The War for Talent

Financial advisory firms want to grow, but there are fewer new advisors coming into the industry. That forces broker-dealers to boost their ranks by cherry-picking from competitors. An economics professor might see an interesting lab experiment of a supply-demand imbalance, but those in the trenches see a battlefield.

The War for Talent
Source: On Wall Street

 

Insurance Department Imposes Record Fine on AIG

Acting Insurance Commissioner Joel Ario announced a settlement today that requires American International Group Inc., AIG, to pay more than $9 million in penalties and investigative costs for filing false financial information.

Insurance Department Imposes Record Fine on AIG
Source: PR Newswire

Monday, March 17, 2008

 

Nationwide Launches New Web Site to Help Investment Professionals Win Retirement Plan Clients

Today Nationwide Financial launched a new Web site, 'www.nationwide.com/rpsales' to provide investment professionals with tools and resources they can use to help build their retirement plan business.

Nationwide Launches New Web Site to Help Investment Professionals Win Retirement Plan Clients
Source: Yahoo! Finance

 

Allianz Life Introduces New MasterDex Plus Annuity Series; Offers Guarantees, Potential Interest and Control

Allianz Life Insurance Company of North America (Allianz Life) has announced the launch of the new Allianz MasterDex PlusSM annuity series. The new, fixed-index, deferred annuity series revamps the existing MasterDex portfolio by adding new options – including the Income Plus Benefit rider on the Allianz MasterDex 5 PlusSM for an additional cost, giving the opportunity for consumers to receive lifetime payments that can grow every year with indexed interest.

Allianz Life Introduces New MasterDex Plus Annuity Series; Offers Guarantees, Potential Interest and Control
Source: Business Wire

 

Guaranteed Income -- For Life

My parents and I have been exploring some estate-planning options recently. They heard some presentations on equity-indexed annuities, and we decided to avoid those. (Read about why that's smart.) We also learned about a much less troublesome option -- the lifetime income annuity.

Guaranteed Income -- For Life
Source: Motley Fool

 

ING Releases Findings from Retirement Number Study

ING today released the results of its recent Retirement Number Study. The survey, conducted with Ipsos Public Affairs in January 2008, polled more than 1,000 U.S. adults to learn what numbers are most important in their life. Participants also responded to a series of questions to see how -- if at all -- they consider their retirement number. This number is the dollar amount an individual or couple needs to have saved by the time they retire and is unique to their personal retirement goals.

ING Releases Findings from Retirement Number Study
Source: Yahoo! Finance

Friday, March 14, 2008

 

ING Launches New Campaign to Help Make Retirement Planning Easier; Wants Americans to Know Their "Number"

ING, one of the world's leading financial services organizations, announced today the launch of a new integrated marketing campaign entitled 'Your Number.' The goal of the campaign is to help simplify the process of retirement planning for Americans -- by encouraging them to identify and calculate the total amount of money they need to have saved by the time they retire. This 'number' is unique to each individual or couple, and depends upon their individual retirement goals.

ING Launches New Campaign to Help Make Retirement Planning Easier; Wants Americans to Know Their "Number"
Source: Yahoo! Finance

 

How to Use a Marketing Plan to Increase Business

Are sales and marketing the same thing? Not at all, according to marketing professionals, but sometimes it is the lack of a marketing strategy that is the only thing keeping an insurance producer – even though he or she may be a good sales professional – from getting more business.

How to Use a Marketing Plan to Increase Business
Source: Insurance News Net

 

The Phoenix Companies, Inc. Sends Letter to Shareholders Regarding Annual Meeting

"We are writing to you at a critical point in Phoenix’s history to ask for your support for all five of your Board’s nominees that are up for election at this year’s Annual Meeting of Shareholders on May 2. In this letter, we will summarize why this vote is so important. In short, now is not the time to interrupt our progress or jeopardize our business relationships, policyholder interests, and the long-term interest of our shareholders."

The Phoenix Companies, Inc. Sends Letter to Shareholders Regarding Annual Meeting
Source: Business Wire

 

Jackson Reports a 14% Rise in GAAP Net Income to $619 Million; GAAP Revenue up 11% to $4.1 Billion

Jackson National Life Insurance Company® (Jackson) generated $4.1 billion in GAAP revenue and $619 million in GAAP net income in 2007. The company's 14-percent increase in GAAP net income was driven primarily by record fee income of $1 billion, up 41 percent over 2006. Fee income comprised 24 percent of Jackson's total revenue in 2007, up from 19 percent in 2006, as Jackson further diversified its revenue streams. Jackson also achieved record sales and deposits of more than $14.5 billion1, a 22-percent increase over 2006, and surpassed $82 billion in assets (GAAP)2 at the end of 2007.

Jackson Reports a 14% Rise in GAAP Net Income to $619 Million; GAAP Revenue up 11% to $4.1 Billion
Source: Business Wire

 

MassMutual's Center for Behavior Research Releases White Paper Regarding Automatic Features in Retirement Plans

MassMutual's Center for Behavioral Research has released a new white paper to share insights and best practices regarding automatic features in retirement plans. Titled "Automation: 3 Steps to a High Performance Plan," the white paper suggests important criteria that retirement plan advisors and sponsors should consider when evaluating the adoption of automatic plan features such as automatic enrollment, automatic deferral increase and automatic asset allocation.

MassMutual's Center for Behavior Research Releases White Paper Regarding Automatic Features in Retirement Plans
Source: PR Newswire

Thursday, March 13, 2008

 

Why Producers Need Public Relations

When trying to become well known, you need a lot more than an ad in a newspaper. You need the help of a PR specialist to promote you and your company to important people, such as magazine and newspaper editors and news producers. When you can tell your clients or prospective clients that you were featured in Life Insurance Selling magazine, or they can tune in to FOX 6 News every morning for your financial tips, you have received third-party endorsement and earned your status as an expert.

Why Producers Need Public Relations
Source: Insurance News Net

 

The Bank of New York Mellon's Pershing Unit Introduces Income Guarantee on Retirement Assets

Pershing LLC, a subsidiary of The Bank of New York Mellon Corporation, announced today that it has introduced Lockwood Investment Strategies Longevity Income Solutions (LIS(2)), a groundbreaking financial solution that wraps a lifetime income guarantee from the PHL Variable Insurance Company, a subsidiary of The Phoenix Companies, Inc.

The Bank of New York Mellon's Pershing Unit Introduces Income Guarantee on Retirement Assets
Source: PR Newswire

 

The Five Reasons People Buy Fixed Annuities

Without denying that there are situations where a naïve client purchases a fixed annuity without adequately understanding it, let’s address the question: Are there rational reasons for people to buy fixed annuities?

The Five Reasons People Buy Fixed Annuities
Source: Producer's Web

Wednesday, March 12, 2008

 

NAIC Releases Select 2007 Life Market Sales Data

The National Association of Insurance Commissioners (NAIC) today released the 2007 market share premium data for the top 25 insurers of select life lines of business. This data helps to provide an indicator of the degree of market concentration in a line of business, as well as identify leading insurance writers.

NAIC Releases Select 2007 Life Market Sales Data
Source: Insurance News Net

Available free online, the report will be refreshed each Monday through mid-April. Access the report at: http://www.naic.org/documents/research_home_life_fraternal.pdf.

 

AARP Services Inc. and Genworth Financial Introduce New Innovative and Affordable Long Term Care Insurance Option to AARP Members

AARP Services Inc. and Genworth Financial, Inc. today announced the availability of a new long term care insurance plan for AARP's 39 million members. Genworth's Cornerstone Advantage(SM) plan is an affordable alternative to traditional long term care insurance and is currently available to AARP members in 27 states, with more states anticipated.

AARP Services Inc. and Genworth Financial Introduce New Innovative and Affordable Long Term Care Insurance Option to AARP Members
Source: PR Newswire

 

New York Life Launches New Web Section Focused on Women and Finance

New York Life Insurance Company today announced it has launched a site for women consumers, www.newyorklife.com/womenandfinance that provides easy access to detailed information and organizational tools for helping meet financial goals. The site focuses on the top concerns for women including planning for retirement, creating financial protection for their families, saving for their children’s education, and dealing with life’s major financial challenges.

New York Life Launches New Web Section Focused on Women and Finance
Source: Business Wire

Tuesday, March 11, 2008

 

AXA Equitable Ranks #1 in Variable Annuity New Sales for 2007

AXA Equitable announced today that it ranked first in variable annuity new sales for the full year 2007, with a 20.2% increase in sales and 4.1% improvement in market share over 2006.

AXA Equitable Ranks #1 in Variable Annuity New Sales for 2007
Source: Yahoo! Finance

 

John Hancock Expands Online Long-Term Care Insurance (LTCI) Training Options to Help Advisors Meet New NAIC Producer Regulations

John Hancock Life Insurance Company (John Hancock) will expand its long-term care insurance (LTCI) training efforts this month by launching an online program that will be compliant with NAIC Producer Training Regulations and state LTCI Partnership amendments and enjoy the same incentives as those for its classroom sessions. John Hancock's training programs are open to all producers who sell LTCI.

John Hancock Expands Online Long-Term Care Insurance (LTCI) Training Options to Help Advisors Meet New NAIC Producer Regulations
Source: PR Newswire

 

Seniors Get Paid to Let Investors Buy Insurance on Their Lives

Robert Mannheim was stunned when he found out that strangers wanted to lend his mother in West Los Angeles money to buy her a $2-million life insurance policy and pay her premiums.

The deal got better after two years: She would sign over her death benefits to investors and collect $200,000.

Seniors Get Paid to Let Investors Buy Insurance on Their Lives
Source: Mercury News

Monday, March 10, 2008

 

MIB Life Index Reports North American Life Insurance Activity Level in January

North American application activity for individually underwritten life insurance remained flat (+0.4%) in January year-over-year, according to the MIB Life Index. Applications were off -4.2% when compared against December 2007 activity. January's month-over-month activity has lagged that of the previous December in six of the last seven years.

MIB Life Index Reports North American Life Insurance Activity Level in January
Source: PR Newswire

 

New Harris Survey Finds That Most Baby Boomers Underestimate Disability Risk

Most Baby Boomers underestimate their risk of suffering a disability that would cause them to miss work for an extended period of time, according to a new survey conducted by Harris Interactive on behalf of America's Health Insurance Plans (AHIP). The survey also found that Baby Boomers are unaware of the most common causes of disability and are not too concerned about their risk of becoming disabled.

New Harris Survey Finds That Most Baby Boomers Underestimate Disability Risk
Source: Insurance News Net

 

Charitable Giving with Life Insurance

Many people regularly contribute to charities and non-profit organizations. Some feel so strongly about their favorite organizations that they include them in their estate plans. In this way, loyal donors can make one last gift to the organizations and causes they really care about.

Charitable Giving with Life Insurance
Source: Life Insurance Selling

Wednesday, March 05, 2008

 

Life Insurers' Profits Rise, but They're Hardly Recession Proof

Despite a 9% increase in the profits of life insurers in the first nine months of 2007 (the most recent full set of available data), the industry now faces challenges from recessionary pressures.

Through Sept. 30, 2007, life insurers -- including annuities, life insurance, disability insurance, long-term care insurance, and health insurance -- earned $30.2 billion, up from $27.7 billion for the same period in 2006.

Life Insurers' Profits Rise, but They're Hardly Recession Proof
Source: The Street

 

Prudential Financial Outlines Practical Investment Tips You Should Consider in the 'Retirement Red Zone'

Whether it’s taking stock of all your potential income sources, making sure you don’t miss out on maximum Social Security benefits or figuring out how to fund post-retirement health-care coverage, there are a number of critical investment decisions Americans in The Retirement Red Zone—the five years before and after retirement—should make.

Prudential Financial Outlines Practical Investment Tips You Should Consider in the 'Retirement Red Zone'
Source: Business Wire

 

WSLife.com Named "Excellent" by DALBAR

DALBAR has ranked WSLife.com fourth in the country among Web-based technology firms within the insurance, annuity and mutual funds industry. For the first time ever, WSLife.com has achieved DALBAR's highest designation of "Excellent." As one of the leading financial services research firms, DALBAR measures the performance of customer service programs and Web sites in the financial services industry on a quarterly basis.

WSLife.com Named "Excellent" by DALBAR
Source: PR Newswire

Tuesday, March 04, 2008

 

New Sun Protector Variable Universal Life Combines Flexible No Lapse Protection Plus Investment Opportunity in a Single Solution

The U.S. division of Sun Life Financial today launched Sun Protector Variable Universal Life (VUL), a new life insurance product that offers clients an attractive combination of protection, growth potential and guarantees. Sun Protector VUL’s flexibility and value is underscored by a highly competitive, limited duration no-lapse guarantee on the base policy face amount. Beyond this, an optional No Lapse Protection Rider provides guaranteed coverage for a lifetime.

New Sun Protector Variable Universal Life Combines Flexible No Lapse Protection Plus Investment Opportunity in a Single Solution
Source: Yahoo! Finance

 

Annuities Raise Alarms

Annuities can be a smart investment, experts say, but the financial product gets a black eye when they are sold to the wrong people or for the wrong reasons.

There were 108 complaints filed last year with the Washington Office of the Insurance Commissioner regarding annuities, according Stephanie Marquis, spokeswoman for the office.

Annuities Raise Alarms
Source: Insurance News Net

 

Transamerica Renames and Evolves Fund Company

Transamerica IDEX Mutual Funds unveiled its new moniker today: Transamerica Funds. The shortened name better leverages Transamerica’s strong brand recognition and is part of a recent company evolution as an asset manager. Transamerica Funds streamlined its lineup of open funds, increased the size and expertise of its sales force and joined Transamerica Asset Management Group, which had more than $50 billion in assets under management as of March 1.

Transamerica Renames and Evolves Fund Company
Source: Business Wire

Monday, March 03, 2008

 

AXA Equitable Meets the Needs of Two People Under One Life Insurance Policy

Today AXA Equitable unveiled its new Athena Survivorship Universal Life(SM) III (Athena SUL III) insurance product, designed to deliver cost-effective death benefit protection to couples and business partners for their estate, business and charitable planning needs. By providing a death benefit upon the death of the surviving insured, Athena SUL III can be used to pay sizeable estate taxes and other expenses. Athena SUL III introduces a new Preferred Plus underwriting class and, for an additional charge, offers policyholders an optional Lapse Protection Rider (LPR) that guarantees the policy premium against fluctuations in interest crediting rates or increases in policy charges, as long as certain requirements are met. "Adding Athena SUL III to AXA Equitable's product portfolio," said Claude Methot, Senior Vice President and Chief Product Officer, who made today's announcement, "ensures that we're providing a wide range of solutions to meet every life insurance need, from a business' key person protection to a couple's wealth transfer."

AXA Equitable Meets the Needs of Two People Under One Life Insurance Policy
Source: PR Newswire

 

Protective Life Offers New Choices in Variable Annuity Living Benefits

Protective Life Insurance Company today announced updates to the popular SecurePay Withdrawal Benefit. The enhanced offering now includes a choice of two lifetime withdrawal benefits:

** The original SecurePay Withdrawal Benefit, or
** The new “SecurePay with Roll-Up” option.

Protective Life Offers New Choices in Variable Annuity Living Benefits
Source: Business Wire

 

AIG American General Announces Extended Term Periods on its Innovative AIG Select-a-Term

American General Life Insurance Company (American General Life), a subsidiary of American International Group, Inc. (AIG), has introduced five additional term periods for its innovative term life insurance product, AIG Select-a-Term®. Previously, terms were available for years 10, 12 and 15 through 30, but now customers may also choose from terms of 31 to 35 years (depending on issue age and tobacco use status).

AIG American General Announces Extended Term Periods on its Innovative AIG Select-a-Term
Source: Business Wire

 

What's New in Life Insurance Product Design? The Life Insurance Conference Tells All - In Las Vegas!

Trends in life insurance product design, long-term care combination product opportunities, and improving product development are just some of the product development issues to be discussed at the 2008 Life Insurance Conference, April 7-9, 2008 at Caesars Palace in Las Vegas.

What's New in Life Insurance Product Design? The Life Insurance Conference Tells All - In Las Vegas!
Source: Insurance News Net

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