Wednesday, April 30, 2008

 

MetLife Revamps Its Variable Annuities with New Death Benefit Rider and Upgrades to Living Benefit Riders

MetLife today announced that it has revamped its variable annuity product suite to include an optional Enhanced Death Benefit rider; upgrades to two of its living benefit riders, Guaranteed Minimum Income Benefit Plus (GMIB Plus/Predictor Plus) and Lifetime Withdrawal Guarantee (LWG); investment flexibility for all three riders and three new asset allocation portfolios composed of American Funds Insurance Series® portfolios and the new Met/Franklin Templeton Founding Strategy Portfolio, all of which are managed by Met Investors Advisory, LLC.

MetLife Revamps Its Variable Annuities with New Death Benefit Rider and Upgrades to Living Benefit Riders
Source: Yahoo! Finance

Permalink posted by armandn @ 11:13 AM
 

Replacing the Paycheck in Retirement Focus of New Sales Kit from Pacific Life

With life spans growing and pension plans going the way of the dinosaur, younger boomers and Gen X’ers need help with strategies to help them replace their paychecks when they retire. Pacific Life Insurance Company and Pacific Life & Annuity Company now offer a sales kit featuring life insurance materials so financial professionals can work with their clients to identify income needs in retirement and look at how to help protect the family while building assets toward the retirement goal.

Replacing the Paycheck in Retirement Focus of New Sales Kit from Pacific Life
Source: Business Wire

Permalink posted by armandn @ 11:12 AM
 

New York Life Adds New Consumer-Friendly Features to Web Site

New York Life Insurance Company today announced it has added several new features to its Web site, www.newyorklife.com, that allow better, faster navigation for consumers, improved access for the visually and reading impaired, and the ability to communicate about the site in ‘real’ time.

New York Life Adds New Consumer-Friendly Features to Web Site
Source: Business Wire

Permalink posted by armandn @ 11:10 AM
 

A Generational Challenge

More Americans will reach retirement age over the next two decades than at any other time in this country's history. Unlike their parents who relied on traditional pensions, boomers will be the first generation whose principal retirement assets will come in the form of a lump sum, such as a 401(k), IRA, or SEP account. According to the Employee Benefit Research Institute, it is estimated that boomers hold over $1.75 trillion in 401(k) plans.

A Generational Challenge
Source: Senior Market Advisor

Permalink posted by armandn @ 11:08 AM

Monday, April 28, 2008

 

Catching the Tidal Wave in Income Distribution Planning

Though baby boomers will swell the ranks of the retirement population by nearly 100% over next 30 to 40 years, they have not done a great job of saving for retirement, said Michael Tripses, executive vice president and chief actuary of Creative Marketing International Corp., Overland Park, Kan., during a March 19, 2008 webinar hosted by The National Underwriter Co. and Old Mutual Financial Network.

Catching the Tidal Wave in Income Distribution Planning
Source: Annuity Sales Buzz

Permalink posted by armandn @ 12:41 PM
 

Jackson Enhances Fixed Index Annuity Lineup with Launch of Select Annual Reset

Jackson National Life Insurance Company® (Jackson) today announced the launch of Select Annual Reset, a new fixed index annuity (FIA) that combines the potential to earn additional interest with protection of principal. In addition to a guaranteed minimum interest rate and a guaranteed minimum death benefit, Select Annual Reset gives investors the opportunity to earn additional interest based on the performance of two market indexes – Jackson’s proprietary Multi-Strategy Index or the S&P 500® Index – or a combination of both indexes.

Jackson Enhances Fixed Index Annuity Lineup with Launch of Select Annual Reset
Source: Yahoo! Finance

Permalink posted by armandn @ 12:41 PM
 

What Will Happen When Disability Strikes?

If you become disabled and unable to work, how will your family pay bills? Half of all Americans say they would rely on personal savings or retirement savings to make up the difference, according to the latest results from the Principal Financial Well-Being Index.

What Will Happen When Disability Strikes?
Source: Business Wire

Permalink posted by armandn @ 12:40 PM
 

John Hancock Retirement Plan Services Launches New "Forum Coach" Training Program for TPAs

Building on the recent expansion of the TPA Services Team, John Hancock Retirement Plan Services (RPS) today announces a new web-facilitated training program for its 401(k) Third Party Administrators (TPAs). Called "Forum Coach," the program was developed in response to TPAs' requests for:

-- relevant and timely compliance instruction
-- information on new products and services
-- training programs to help new associates earn industry designations and provide those with existing designations, valuable CE credits.

John Hancock Retirement Plan Services Launches New "Forum Coach" Training Program for TPAs
Source: Yahoo! Finance

Permalink posted by armandn @ 12:38 PM

Friday, April 25, 2008

 

TowerGroup Says Insurers Must Rethink Their Approach to Annuities

New research from TowerGroup has revealed that in order to capture a larger slice of the retirement asset market, insurers must make strategic changes in their approach to annuities to reduce product complexity and improve both the sales process and suitability screens.

TowerGroup Says Insurers Must Rethink Their Approach to Annuities
Source: Insurance Business Review Online

Permalink posted by armandn @ 10:15 AM
 

How Should Insurers Handle Pre-Existing Conditions?

As most people know, it is difficult to obtain health insurance coverage if a person has a pre-existing condition because it would cost insurance companies. Insurers only want to cover people who are unquestionably healthy. But this expectation of insurers can lead to irrevocable loss of insurance coverage absent protective laws or strong protective state insurance commissioners.

How Should Insurers Handle Pre-Existing Conditions?
Source: St. Louis Today

Permalink posted by armandn @ 10:14 AM
 

Senate Passes Genetic Information Bill

Members of the Senate voted 95-0 Thursday for H.R. 493, the Genetic Information Nondiscrimination Act.

Senate Passes Genetic Information Bill
Source: National Underwriter (subscription required)

Permalink posted by armandn @ 10:13 AM
 

No Lapse Guarantees & Flexibility Key Features of New UL Product from Pacific Life

Flexibility is the key to estate and business planning in uncertain times. Pacific Life Insurance Company addresses this need with Versa-Flex NLG, a new single-life universal life (UL) insurance product that offers the powerful combination of no-lapse guarantees with flexible durations and potential cash value accumulation in the policy’s early years so policyowners can respond to changes in the financial environment and their plans.

No Lapse Guarantees & Flexibility Key Features of New UL Product from Pacific Life
Source: Pacific Life

Permalink posted by armandn @ 10:12 AM

Thursday, April 24, 2008

 

The Hartford is First to Offer Life Insurance at Standard Rates to Prostate Cancer Survivors with the Most Common Form of the Disease

Almost 186,000 American men will be diagnosed with prostate cancer this year. While it’s a diagnosis no one wants to hear, the chances of surviving prostate cancer and living a full life are far better than they used to be. Thanks to early detection and improved treatment options, 93 percent of men diagnosed with prostate cancer today will live at least ten years. That compares with just 50 percent in the 1980s, according to the National Cancer Institute.

The Hartford is First to Offer Life Insurance at Standard Rates to Prostate Cancer Survivors with the Most Common Form of the Disease
Source: Business Wire

Permalink posted by armandn @ 10:47 AM
 

Why Variable-Life Policies Require a Closer Look

Taking out insurance to pay estate tax is widely done, but a market downturn can spell trouble for certain kinds of policies used in these strategies.

Right now, it is a good idea to put under the microscope variable-insurance products used in estate planning because investment losses in them could leave the insured with less coverage than expected.

Why Variable-Life Policies Require a Closer Look
Source: Wall Street Journal (subscription required)

Permalink posted by armandn @ 10:46 AM
 

Regulating Life Settlements

The emerging life settlements industry is a $6 billion marketplace and the opportunities available in the industry will continue to increase as it maintains its frenetic growth. With the success of life settlements, however, also comes the need for responsible handling of the issues that have arisen within the market.

Regulating Life Settlements
Source: Life Insurance Selling

Permalink posted by armandn @ 10:41 AM
 

Nationwide Financial Unveils New 'YourLife' Protection Variable Universal Life Product

The ever-changing life insurance marketplace means financial professionals must find even more creative solutions to meet their clients' needs. One current marketplace need is for competitively priced, permanent life insurance that offers death benefit protection with the potential for cash accumulation at the same time.

Nationwide Financial Unveils New 'YourLife' Protection Variable Universal Life Product
Source: PR Inside

Permalink posted by armandn @ 10:40 AM

Wednesday, April 23, 2008

 

AXA Equitable Web Site Offers Financial Tools to Navigate Life Events

Today AXA Equitable announces the launch of its redesigned web site -- www.axa-equitable.com. Enhancements to the online experience include the creation of a Life Events Learning Center, where visitors can find strategies and support to help them understand the important financial considerations at each stage of life, such as benefit considerations when landing a new job, caring for aging parents and transferring accumulated wealth. The dynamic new site also features a personal dimension with real AXA Equitable clients sharing their own financial experiences and employees talking about what it's like to work for the company.

AXA Equitable Web Site Offers Financial Tools to Navigate Life Events
Source: Yahoo! Finance

Permalink posted by armandn @ 11:50 AM
 

Sense & Suitability: When Are Fixed Annuities Suitable?

Lately, the word “suitability” has been used as if it were a term of art, or a word with a precise, agreed-upon meaning. Suitability is not a term of art; it is the art of determining the needs and desires of the consumer and finding a product or products that will meet them. Moreover, suitability is not just about discovering and obtaining information from the consumer; it must also be about discussing and disclosing important information about the insurer, the insurance agent and the annuity product being sold.

Sense & Suitability: When Are Fixed Annuities Suitable?
Source: Producer's Web

Permalink posted by armandn @ 11:48 AM
 

Tips to Help Protect Non-Traditional Families Facing Retirement Planning Hurdles

The MetLife Mature Market Institute® is making a series of tips available to consumers, particularly those who are not in “traditional families,” to help them make the right choices about how to prepare for retirement, despite the challenges they face. “Family Matters: Retirement Preparation Tips for Different Family Types” follows the Institute’s recent Family Matters study which reports that planning for retirement is tougher and more complicated for middle-aged Americans who are married with children from previous relationships and for single women.

Tips to Help Protect Non-Traditional Families Facing Retirement Planning Hurdles
Source: Business Wire

Permalink posted by armandn @ 11:46 AM
 

Prudential Financial Outlines Practical Investment Tips You Should Consider in The Retirement Zone (Tip 10)

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 (Tip 10)
Source: Yahoo! Finance

Permalink posted by armandn @ 11:45 AM

Tuesday, April 22, 2008

 

The Hartford Reaches Out to America's Small Business Owners Needing Both Life Insurance and a Retirement Plan

These are challenging times for America’s small business owners. The combination of global competition and a bruised economy forces them to spend more time on operations and less time planning for their next phase in life. As a result, many of the nation’s four million small businesses lack a retirement plan for the owner or employees.

The Hartford Reaches Out to America's Small Business Owners Needing Both Life Insurance and a Retirement Plan
Source: PR-Inside

Permalink posted by armandn @ 7:46 AM
 

Results of New AIG American General Study Illustrate Need to Educate Americans on Structured Settlements

AIG American General announced today results of a new study that polled more than 1,000 Americans on custom scenarios and real-life experiences involving financial settlements received from personal injury and accidental death cases. The results illustrate that without education on structured settlements, the majority of consumers run the risk of making choices that may jeopardize their long-term financial health.

Results of New AIG American General Study Illustrate Need to Educate Americans on Structured Settlements
Source: Business Wire

Permalink posted by armandn @ 7:45 AM
 

Eyeing Big Bucks, Some Life Insurers Entering or Offering Alternative to Life Settlements

Seeing potentially big bucks in the life-settlement business, some U.S. life insurers are entering the market in some way, shape or form or even offering alternatives via creative loan programs for policyholders who want or need cash.

Eyeing Big Bucks, Some Life Insurers Entering or Offering Alternative to Life Settlements
Source: TMC Net

Permalink posted by armandn @ 7:43 AM
 

Jefferson National Life Offers New Variable Annuity Product With Phoenix

Jefferson National Life Insurance Co., in conjunction with The Phoenix Companies Inc., has launched a new life insurance and investment product.

This month, the companies began offering the Phoenix Portfolio Advisors Variable Annuity.

Jefferson National Life Offers New Variable Annuity Product With Phoenix
Source: Business First

Permalink posted by armandn @ 7:40 AM

Monday, April 21, 2008

 

Charles Schwab Unveils Gen X Web Site

Members of Generation X face a wide spectrum of financial challenges and life events, from paying off student loans and worrying about the future of Social Security, to saving for their children’s education. Charles Schwab today announced the launch of a Web site designed to talk to and address the unique financial needs of Gen Xers. The web site provides easy to understand personal finance resources, ranging from an innovative peer comparison tool and calculators to guidance to investment basics by life stage. The Web site is available today at www.schwabmoneyandmore.com.

Charles Schwab Unveils Gen X Web Site
Source: Business Wire

Permalink posted by armandn @ 12:13 PM
 

Opportunities Abound in Working with the Wealthy - Especially Business Owners

Many opportunities are open to agents today in helping wealthy clients. Most clients who qualify as “wealthy” are established small business owners, top executives in a corporation or partnership, those who have inherited their wealth, or those who have done well with their investments. These clients usually have some degree of financial sophistication, but the problems they face are more complex and require the help of a knowledgeable advisor. As that advisor, it is up to you to help them plan for their future and find the tools to secure those plans.

Opportunities Abound in Working with the Wealthy - Especially Business Owners
Source: Life Insurance Selling

Permalink posted by armandn @ 12:11 PM
 

When It Comes to Financial Jargon, Americans are Befuddled

- 41% say information from financial services companies is "not so or not at all helpful"

- 67% grade the financial services industry with a 'C', 'D' or 'F' when it comes to explaining saving and investing to consumers

- 73% said that financial services professionals use more jargon than car mechanics

When It Comes to Financial Jargon, Americans are Befuddled
Source: Insurance News Net

Permalink posted by armandn @ 12:09 PM

Friday, April 18, 2008

 

Energize Your Sales with Indexed Life

The U.S. life insurance industry has heavily marketed guarantees in the last several years, including secondary guarantees on UL products, guaranteed living benefits on annuity products and guaranteed level term periods on term life insurance products. Although guarantees have always been a part of insurance products, largely to meet regulatory requirements, the richness of guarantees marketed has continued to swell. Meanwhile, indexed life, a current assumption product, has flown a bit under the radar, quietly maturing as a market and enjoying substantial sales growth.

Energize Your Sales with Indexed Life
Source: Insurance News Net

Permalink posted by armandn @ 8:52 AM
 

Insurance Industry Must Rethink Approach to Annuities to Build Consumer Trust and Grow Share of Retirement Assets

With over 20 percent of the U.S. population expected to be over the age of 65 in 2025, there is a growing need for financial products that can guarantee an income stream during retirement – a need insurance companies should be well-positioned to meet with annuity offerings. Yet new research from TowerGroup finds that in order to capture a larger slice of the retirement asset market, insurers must make strategic changes in their approach to annuities to reduce product complexity and improve both the sales process and suitability screens.

Insurance Industry Must Rethink Approach to Annuities to Build Consumer Trust and Grow Share of Retirement Assets
Source: Business Wire

Permalink posted by armandn @ 8:51 AM
 

Today's Working Adults Face Long Term Care "Double-Whammy"

For health reasons, Americans in the prime of life may be less financially secure than they think, according to Denise Gott, Vice Chairperson of LTC Financial Partners LLC, one of the nation's most experienced long term care insurance agencies. "The sudden need for long term care can erode their best-laid financial plans," she says, "and they're vulnerable on two fronts, not just one, no matter how young they are." She presented the facts on April 2 on Senior Lifestyles Live Talk Radio, hosted by Ron Kauffman (Clear Channel AM 1230 - WBZT, heard throughout south Florida).

Today's Working Adults Face Long Term Care "Double-Whammy"
Source: PR Newswire

Permalink posted by armandn @ 8:50 AM

Thursday, April 17, 2008

 

MassMutual's Center for Behavioral Research Releases White Paper on Best Practices in Education Campaigns

MassMutual's Center for Behavioral Research has released a new white paper to share insights and best practices regarding the successful implementation of participant education campaigns. Titled "Best Practices in Employee Campaigns: Helping Them Get There," the white paper highlights proven best practices and methods for conducting education campaigns for participants in employer-sponsored retirement plans. The white paper addresses specific methods that advisors and sponsors can use to increase participant engagement and to achieve a desired action such as increasing the average savings rate.

MassMutual's Center for Behavioral Research Releases White Paper on Best Practices
Source: PR Newswire

Permalink posted by armandn @ 12:48 PM
 

Nine Annuity Questions Many Advisors Can't Answer

This topic — nine annuity questions many advisors can’t answer — sounds a little daunting to insurance and financial professionals, doesn’t it? As an agent you might think, “What do you mean, agents don’t know these answers? I have been selling annuities for years and I have always treated my clients well and done the right things.” Do these questions come up all the time in typical everyday annuity sales? Probably not, but when they do, knowing the answers will put you in a great position to help your client save money and avoid paying unnecessary taxes.

Nine Annuity Questions Many Advisors Can't Answer
Source: Life Insurance Selling

Permalink posted by armandn @ 12:46 PM
 

Nebraska Steps to Forefront of Efforts to Protect Seniors and Secure Social Purpose of Life Insurance

Nebraska lawmakers have acted to protect senior citizens and to secure the good social purpose of life insurance as financial protection for families and businesses, said Frank Keating, president and CEO of the American Council of Life Insurers (ACLI).

Nebraska Steps to Forefront of Efforts to Protect Seniors and Secure Social Purpose of Life Insurance
Source: Insurance News Net

Permalink posted by armandn @ 12:44 PM
 

The One-Year $1 Million Challenge

It's true what they say: Youth is wasted on the young.

I'm not going to get all sentimental about how responsibilities are nil and possibilities are endless. No, the real waste is the time young folks have to compound their money.

The One-Year $1 Million Challenge
Source: The Motley Fool

Permalink posted by armandn @ 12:42 PM

Wednesday, April 16, 2008

 

Tricks of the Trade: Dateline NBC Investigation Sees What Insurance Agents Say -- and When They Don't -- When They Think They Are Alone with a Senior

This story originally aired on the April 13, 2008 edition of Dateline NBC.

America's seniors have always been a sales target -- now more than ever, because they control more than $15 trillion.

In an effort to get a slice of that pie, some independent insurance agents, representing big insurance companies, are selling a relatively new kind of investment to people like Leo Stulen.

Dateline NBC Video
Dateline NBC Transcript
Allianz's Response
NAFA's Response
Insurance News Net's Response

Permalink posted by armandn @ 6:32 AM
 

BancorpSouth to Offer Customers MyTerm, Internet-Based Term Life Insurance

Prudential Financial, Inc. today announced an agreement between its Individual Life Insurance business and BancorpSouth to offer MyTerm, a new simplified issue term life insurance policy available through the Internet, to BancorpSouth customers. Through an online automated underwriting process that can be accessed from virtually anywhere, MyTerm delivers a policy in about 10 minutes to qualified customers that can then be saved electronically or printed locally.

BancorpSouth to Offer Customers MyTerm, Internet-Based Term Life Insurance
Source: Fox Business

Permalink posted by armandn @ 6:31 AM
 

The Best-Kept Secret of the Life Settlement Industry

The life settlement industry is getting a lot of well-deserved attention these days, but the focus has been one-sided. Everyone, it seems, is looking for agents and brokers who have clients with unwanted life insurance policies to sell. But let me ask you two questions: How many of us have clients over the age of 65, in poor health, with multi-million-dollar insurance policies that they don’t want to keep? Very few, right? But how many of us have clients of all ages with poorly performing investment portfolios — especially those clients nearing retirement age? We all do!

The Best-Kept Secret of the Life Settlement Industry
Source: Producer's Web

Permalink posted by armandn @ 6:29 AM
 

Prudential Financial Outlines Practical Investment Tips You Should Consider in the Retirement Red Zone (Tip 9)

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 (Tip 9)
Source: Yahoo! Finance

Permalink posted by armandn @ 6:28 AM

Tuesday, April 15, 2008

 

Annuity Product Trends: What's Next After Guaranteed Living Benefits

Milliman's third annual Guaranteed Living Benefits survey of 19 leading variable annuity (VA) carriers reported that the sales of VAs with GLBs continued to increase from 87% of total VA sales in 2005 to 95% in the first half of 2007. On the other hand, the total VA sales without GLBs dropped to 31% during the first six months of 2007 from 44% during 2004.

Annuity Product Trends: What's Next After Guaranteed Living Benefits
Source: Insurance News Net

Permalink posted by armandn @ 6:24 AM
 

Recession-Proof Your Insurance Needs

Most consumers depend on their employer for their health, life and disability insurance. But according to a recent report by the Center for Economic and Policy Research, this year's recession will cause at least 4.2 million people to lose their health and life insurance coverage. If the worst happens and the recession costs you your job, what would you do?

Recession-Proof Your Insurance Needs
Source: MarketWatch

Permalink posted by armandn @ 6:23 AM
 

Boomers to Flood Medical System

Millions of baby boomers are about to enter a health care system for seniors that not only isn't ready for them, but may even discourage them from getting quality care.

"We face an impending crisis as the growing number of older patients, who are living longer with more complex health needs, increasingly outpaces the number of health care providers with the knowledge and skills to care for them capably," said John W. Rowe, professor of health policy and management at Columbia University.

Boomers to Flood Medical System
Source: Associated Press

Permalink posted by armandn @ 6:22 AM
 

Generation X Glum on Retirement Prospects

Baby boomers say they are worried about achieving a comfortable retirement, but a new study suggests Generation X is even more pessimistic.

More than two-thirds of Americans aged 27 to 42 don't think they will ever be able to stop working, according to a survey published jointly on Monday by Scottrade and BetterInvesting.

Generation X Glum on Retirement Prospects
Source: Reuters

Permalink posted by armandn @ 6:19 AM

Monday, April 14, 2008

 

Amid Economic Uncertainty, New National Survey Finds Parents Concerned About Children's Future Financial Independence

Amid mounting doubt about the health of the U.S. economy, a majority of parents across the country are afraid their teens and young adults will be unable to support themselves without help from mom and dad. According to a new survey by The Hartford Financial Services Group, Inc., 55 percent of parents with children aged 16-24 voiced concern over their children’s ability to become financially independent without monetary assistance from them.

Amid Economic Uncertainty, New National Survey Finds Parents Concerned About Children's Future Financial Independence
Source: Business Wire

Permalink posted by armandn @ 7:39 AM
 

Concerns Are High on Living Well in Retirement

Forget the scenes of blissful gray-haired couples prancing on exotic moonlit beaches.

Replace the image with Mother Hubbard digging through the cupboard, or a gray-haired wretch toiling on the job long past 65.

Concerns Are High on Living Well in Retirement
Source: Insurance News Net

Permalink posted by armandn @ 7:37 AM
 

Behind the Surge in Wealth Services for Families

The multifamily wealth management business is booming as the rich continue get richer but grapple with increasingly complex market conditions.

These businesses advise multiple generations of families with around $47.9 million of assets on average, according to Family Wealth Alliance LLC, a Wheaton, Ill., research firm.

Behind the Surge in Wealth Services for Families
Source: Financial-Planning.com

Permalink posted by armandn @ 7:37 AM
 

MassMutual Law Division Participates in Springfield Pro Bono Housing Court Project

MassMutual Financial Group announced today its participation in a local pro bono program in which attorneys in the company's Law Division offer free legal services to income eligible tenants and landlords in Hampden County Housing Court located in Springfield, Massachusetts.

MassMutual Law Division Participates in Springfield Pro Bono Housing Court Project
Source: PR Newswire

Permalink posted by armandn @ 7:36 AM

Friday, April 11, 2008

 

Worried About Savings for Retirement? Here's How to Boost Your Confidence

There's an old saying that the best time to fix a roof is when the sun is shining. Well, the storm clouds are on the horizon and time's a-wasting. At least, that's the case according to the findings of the 18th annual Retirement Confidence Survey by the Employee Benefit Research Institute.

Worried About Savings for Retirement? Here's How to Boost Your Confidence
Source: MarketWatch

Permalink posted by armandn @ 7:26 AM
 

Focusing Prospects on Retirement Saving

Not surprisingly, surveys of baby boomers nearing retirement indicate that they are most interested in a retirement lifestyle approximating the one they enjoy now, prior to retirement. Unfortunately, too few boomers have accumulated anywhere near enough money to make this happen!

Focusing Prospects on Retirement Saving
Source: Life Insurance Selling

Permalink posted by armandn @ 7:24 AM
 

Compliance Hassles Outweigh Incentives to Sell Equity Products

Over the past two years, almost one third of independent producers surveyed have dropped their Series 6 license, according to a recent study by LIMRA International.

“The report underscores the problems associated with today's complex compliance requirements,” said Robert Kerzner, president and CEO of LIMRA, LOMA and LL Global. “Producers are overwhelmed by the compliance function yet all of the complexity is not giving clients a better understanding of the products they are buying and we are continuing to lose qualified producers.”

Compliance Hassles Outweigh Incentives to Sell Equity Products
Source: Insurance News Net

Permalink posted by armandn @ 7:23 AM
 

Protective Life Announces Electronic Policy Delivery

Protective Life Insurance Co., a unit of Protective Life Corp. (PL) on Thursday announced that it introduced electronic policy delivery for its producers and policy owners, which will enable speedy delivery and enhance customer convenience.

Protective Life Announces Electronic Policy Delivery
Source: Fox Business

Permalink posted by armandn @ 7:20 AM

Thursday, April 10, 2008

 

MIB Life Index Reports North American Life Insurance Activity off 3.2% in February

North American application activity for individually underwritten life insurance declined -3.2% in February year-over-year, according to the MIB Life Index. Year-to-date (YTD) U.S. and Canadian application activity was off -1.4% compared to the same period last year. Overall, February application activity was up +6.6% over January 2008 levels.

MIB Life Index Reports North American Life Insurance Activity off 3.2% in February
Source: PR Newswire

Permalink posted by armandn @ 7:57 AM
 

John Hancock Retirement Plan Services Officially Launches New 401(k) Guaranteed Income for Life Rider

John Hancock Retirement Plan Services (RPS) today officially launched and began enrolling employees in Guaranteed Income for Life, an optional rider on its 401(k) plans to help participants protect and build their retirement savings through a principal guarantee offering upside potential, downside protection and a source of income for life. Guaranteed Income for Life, which also offers an industry-first portability solution and carries a cost of 35 bps, was first made available for proposals on January 28, and has already been included in 25 new contracts and is pending in many others.

John Hancock Retirement Plan Services Officially Launches New 401(k) Guaranteed Income for Life Rider
Source: Yahoo! Finance

Permalink posted by armandn @ 7:56 AM
 

The Financial Underwriting Test: "Does it Make Sense?"

When it comes to financial underwriting, there is one key question: "Does it make sense?” It's important because this is the question underwriters focus on when evaluating life insurance applications for financial risk.

The Financial Underwriting Test: "Does it Make Sense?"
Source: Life Insurance Selling

Permalink posted by armandn @ 7:52 AM
 

Making Long-Term Care Cool

Every day, we read about the sandwich generation, folks taking care of their parents while raising their own kids. We get cold-calls, emails and are bombarded with advertisements talking about boomers hitting retirement age, says Frank N. Darras, the nation's leading disability and Long-Term Care insurance lawyer.

Making Long-Term Care Cool
Source: PR Newswire

Permalink posted by armandn @ 7:44 AM

Wednesday, April 09, 2008

 

A Chance to Help Others on the Road to Retirement

Research shows that the majority of retirees are uncertain about spending in retirement. In fact, 55 percent of seniors are unsure of how much money they will need to last throughout retirement.

To support the increasing demand by Americans for a financial road map for their retirement, Thrivent Financial plans on hiring more than 800 financial representatives by the end of 2008.

A Chance to Help Others on the Road to Retirement
Source: Business Wire

Permalink posted by armandn @ 12:43 PM
 

Is Your Retirement Savings in a Free Fall?

Despite their best efforts to save, sacrifice and limit their living expenses, retirees often live out their golden years with a fear of running out of money.

Is Your Retirement Savings in a Free Fall?
Source: Insurance News Net

Permalink posted by armandn @ 12:42 PM
 

New "Wellness Score" from CIGNA Can Forecast Health Risks Years in Advance

What if you could see into the future and know more now about the things you’re doing – or not doing – that are likely to result in health risks and health care expenses down the road? CIGNA is giving its members the ability to do just that by launching its sophisticated, “next generation” health assessment and predictive capabilities. CIGNA is also coupling these capabilities with new online health coaching programs in the areas of sleep, stress, nutrition and physical activity that help motivate and support people to address these risks.

New "Wellness Score" from CIGNA Can Forecast Health Risks Years in Advance
Source: Business Wire

Permalink posted by armandn @ 12:41 PM
 

Prudential Financial Outlines Practical Investment Tips You Should Consider in 'The Retirement Zone' (Tip 8)

Individuals often purchase long-term care protection for the purpose of insuring that they will have sufficient funds to pay for the cost of long-term care. Assuming individuals cannot afford to self-insure this risk and do not want to spend down their assets in order to become eligible for Medicaid, such insurance may be a good way to manage the risk of significant long-term care expenses.

Prudential Financial Outlines Practical Investment Tips You Should Consider in 'The Retirement Zone' (Tip 8)
Source: Yahoo! Finance

Permalink posted by armandn @ 12:37 PM

Tuesday, April 08, 2008

 

Jackson Adds Overloan Protection Rider to VUL and UL Products

Jackson National Life Insurance Company (Jackson) today announced the introduction of Jackson Policy Preserver, a new rider designed to help advisers and their clients prevent a policy from lapsing if the policy’s loan value exceeds the accumulated cash value. Policy Preserver is available at no additional charge within one of Jackson’s universal life products and three of the company’s variable universal life insurance products. For newly-issued, qualifying policies, Jackson will automatically attach Policy Preserver to the base policy at no charge. The company will also attach the rider to existing, in-force policies.

Jackson Adds Overloan Protection Rider to VUL and UL Products
Source: Yahoo! Finance

Permalink posted by armandn @ 6:38 AM
 

AXA Equitable Helps Americans Secure Their Financial Future With More Affordable Lapse Protection Coverage

In today's uncertain economy, many Americans seek financial guarantees. AXA Equitable Life Insurance Company announced today that it's making it easier for Americans to secure their financial future, by offering more competitive rates in approved jurisdictions on its Athena Universal Life(SM) with a built-in Lapse Protection Rider (Athena UL(SM)-LPR) product. The announcement was made today by Claude Methot, Senior Vice President and Chief Product Officer.

AXA Equitable Helps Americans Secure Their Financial Future With More Affordable Lapse Protection Coverage
Source: PR Newswire

Permalink posted by armandn @ 6:37 AM
 

John Hancock Launches New, Multi-Million Dollar 'Cursor' Campaign

John Hancock Financial Services today launched its new "Cursor" advertising campaign with three ads reflecting the new ways in which spouses, family members and friends talk to each other about pressing, and sometimes difficult, topics such as saving money for retirement or protecting a family legacy. It is called the "Cursor" campaign because these conversations -- which once may have taken place in person -- in reality now are often conducted via instant messaging or email on a computer or portable device, and often late at night or on the go, given today's lifestyles.

John Hancock Launches New, Multi-Million Dollar 'Cursor' Campaign
Source: Yahoo! Finance

Permalink posted by armandn @ 6:36 AM
 

Employees' Desire for Workplace Access to Insurance & Savings Products and Advice Growing, MetLife Study Shows

The workplace has become the dominant starting point for building a strong financial safety net. According to MetLife’s Sixth Annual Employee Benefits Trends Study, released today, more than half of working Americans (52%) are now obtaining the majority of their financial and retirement products through the workplace – up from 46% a year ago. Growing financial concerns among employees are creating a greater interest in advice and guidance at the workplace – 44% of employees would like access to general financial planning advice at work, up from 30% last year. Nearly half (49%) of all employees also want their employers to provide retirement advice.

Employees' Desire for Workplace Access to Insurance & Savings Products and Advice Growing, MetLife Study Shows
Source: Business Wire

Permalink posted by armandn @ 6:34 AM

Monday, April 07, 2008

 

As Young Insurance Agents Look to Future, Many Eye Ownership

America's young independent insurance agents are nearly equally excited about the future of the agency system of which they are a part as they are about their own jobs.

A new Insurance Journal survey found that 79 percent of agents 40 years and younger feel optimistic or very optimistic about the future of the independent agency system.

As Young Insurance Agents Look to Future, Many Eye Ownership
Source: Insurance Journal

Permalink posted by armandn @ 7:12 AM
 

Transamerica Retirement Services' Enrollment Kit Earns First Place Industry Award for Participant Education

Transamerica Retirement Services today announced that it earned a first place “Eddy Award,” by Pensions & Investments (Issue date: March 17, 2008) magazine, for its redesigned enrollment kit. The award was given in the “Initial Education - Generic” category.

Transamerica Retirement Services' Enrollment Kit Earns First Place Industry Award for Participant Education
Source: Business Wire

Permalink posted by armandn @ 7:10 AM
 

Guaranteed Living Benefit Choices Play Key Role in VA Sales

Variable annuity sales reached a new record in 2007 and the ongoing appeal of guaranteed living benefits (GLBs) played a key role in their success.

Guaranteed living benefit choices play key role in VA sales
Source: National Underwriter (subscription required)

Permalink posted by armandn @ 7:08 AM

Thursday, April 03, 2008

 

The Incredible Evolving Annuity

Very few products in this industry have evolved like that of the annuity, which has come to take on a variety of shapes and forms while promising to become increasingly flexible as people’s future needs continue to change.

The Incredible Evolving Annuity
Source: Producer's Web

Permalink posted by armandn @ 11:09 AM
 

Phoenix Now Buying Policies

The Phoenix Cos. isn't just selling life insurance policies anymore. It's buying them.

The Hartford-based company said Tuesday it is entering the "life settlement" market, a growing business that has seen some abuses.

Phoenix Now Buying Policies
Source: Hartford Courant

Permalink posted by armandn @ 11:08 AM
 

Prudential Financial Outlines Practical Investment Tips You Should Consider in the Retirement Red Zone (Tip #7)

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 (Tip #7)
Source: Business Wire

Permalink posted by armandn @ 11:08 AM
 

Growth Opportunities for Insurance Industry Discussed in 'Wall Street Transcript' Insurance & Insurance Brokers Report

The Wall Street Transcript has just published its Insurance & Insurance Brokers Report issue, a report offering a timely review of the sector to serious investors and industry executives. This 36-page feature contains in depth commentary through interviews with CEOs from 2 firms and 5 analysts.

Growth Opportunities for Insurance Industry Discussed in 'Wall Street Transcript' Insurance & Insurance Brokers Report
Source: Yahoo Finance!

Permalink posted by armandn @ 11:07 AM

Wednesday, April 02, 2008

 

AXA Equitable Unveils Crossings: My Lifetime IRA

AXA Equitable Life Insurance Company, which pioneered living benefits in variable annuities, today launched a new variable annuity -- Crossings(SM): My Lifetime IRA(SM), designed specifically as a rollover option for employees taking distributions from employer-sponsored retirement plans at Fortune 1000 companies. Crossings(SM) is the first product developed by Corporate Markets, AXA Equitable's newly created business unit providing retirement plan solutions and strategies to large corporations. Crossings(SM) is not available through any other business unit. Bill McDermott, Executive Vice President of AXA Equitable and Head of Corporate Markets, made the announcement.

AXA Equitable Unveils Crossings: My Lifetime IRA
Source: Yahoo! Finance

Permalink posted by armandn @ 7:28 AM
 

The Guaranteed Life-Time Income Rider for Baby Boomers

As baby boomers head toward retirement, all surveys show their biggest financial concern is outliving their income. Because many have not properly saved for retirement, some will have to un-retire and work beyond age 65.

The Guaranteed Life-Time Income Rider for Baby Boomers
Source: Producer's Web

Permalink posted by armandn @ 7:27 AM
 

Conning Research: Long Term Care Insurance Industry Continues to Search for Broader Market

The long term care insurance industry may need to re-examine its value proposition to break out of the small subset of current clients and serve the broader market, according to a new study by Conning Research and Consulting.

Conning Research: Long Term Care Insurance Industry Continues to Search for Broader Market
Source: PR Newswire

Permalink posted by armandn @ 7:26 AM
 

Phoenix Launches Life Settlements Origination In Partnership with Four Brokerage General Agents

The Phoenix Companies, Inc. today announced that through its subsidiary, Phoenix Life Solutions, it will enter the life insurance settlements business with a focus on customer value and full transparency on commissions and fees.

Phoenix Launches Life Settlements Origination In Partnership with Four Brokerage General Agents
Source: Insurance News Net

Permalink posted by armandn @ 7:25 AM

Tuesday, April 01, 2008

 

Protective Life Introduces Protective Centennial G II Universal Life

Protective Life Insurance Company today announced the release of a new universal life insurance policy, Protective Centennial G II Universal Life.

With its flexible lapse protection guarantee, Protective Centennial G II Universal Life allows buyers to select death benefit guarantee periods that best suit their individual needs and circumstances. The product also offers improved long-term value and affordability at many ages, rate classes and premium funding scenarios.

Protective Life Introduces Protective Centennial G II Universal Life
Source: Yahoo! Finance

Permalink posted by armandn @ 7:36 AM
 

Jackson Enhances Variable Annuity Lineup with Launch of LifeGuard Freedom GMWB

Jackson National Life Insurance Company® (Jackson) today announced the launch of LifeGuard Freedom, a new optional guaranteed minimum withdrawal benefit (GMWB) designed to provide investors with guaranteed annual withdrawals and the opportunity to increase their retirement income. LifeGuard Freedom is available for an additional cost within the company’s Perspective family of variable annuities, as well as its Retirement Latitudes variable annuity.

Jackson Enhances Variable Annuity Lineup with Launch of LifeGuard Freedom GMWB
Source: Yahoo! Finance

Permalink posted by armandn @ 7:35 AM
 

John Hancock Led Industry in New Long-Term Care Insurance Sales in 2007

John Hancock Life Insurance Company sold more long-term care insurance (LTCI) than any other carrier in 2007, according to recent year-end surveys of long-term care insurers by LIMRA International (LIMRA). John Hancock sold more than 100,000 policies/certificates, resulting in $197 million in total premium, across its retail and group LTCI businesses. The company was one of few carriers in the industry to experience double-digit growth in new premium sold year over year, and was also the top carrier for number of new lives sold.

John Hancock Led Industry in New Long-Term Care Insurance Sales in 2007
Source: PR Newswire

Permalink posted by armandn @ 7:34 AM
 

New Survey Indicates Widespread Lack of Planning for Possibility of an Income-Limiting Disability

Although the risk of experiencing an income-limiting disability continues to rapidly rise among the American workforce, most workers are not preparing for the potential financial consequences that a disability can create. According to a new survey from the Council for Disability Awareness (CDA), a majority of workers -- 56 percent -- have never discussed with anyone how they would continue to pay for their living expenses if a disability kept them out of work for several months or longer.

New Survey Indicates Widespread Lack of Planning for Possibility of an Income-Limiting Disability
Source: PR Newswire

Permalink posted by armandn @ 7:33 AM

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