Friday, August 29, 2008

 

MassMutual Launches New Advertising Campaign, Highlighting The Importance of 'Good Decisions'

Massachusetts Mutual Life Insurance Company (MassMutual) today announced the launch of "Good Decisions" the next evolution in the company's brand marketing campaign that supports consumers' desire to feel confident in the decisions they've made and are about to make regarding their personal finances, regardless of where they are on the spectrum of life and finances.

MassMutual Launches New Advertising Campaign, Highlighting The Importance of 'Good Decisions'
Source: PR Newswire

Permalink posted by armandn @ 10:36 AM
 

Americans Today Are Rethinking the Notion of What it Means to Be "Old" and 65 is Out

Increased longevity and life expectancy are changing Americans’ perception of what it means to be “old,” causing many to reevaluate their retirement plans. A new study, commissioned by Charles Schwab & Co., Inc., gauged the perspectives of four different generations: the Silent Generation (born between 1924 and 1944), Boomers (born between 1945 and 1964), Generation X (born between 1965 and 1976) and Generation Y (born after 1976). The study uncovered a diversity of thoughts, dreams and goals surrounding how many of us have and will approach life’s third act, including interesting findings on how Americans are shifting their perspectives on what it means to be “old.”

Americans Today Are Rethinking the Notion of What it Means to Be "Old" and 65 is Out
Source: Business Wire

Permalink posted by armandn @ 10:35 AM
 

Fidelity Research on Generation X/Y Shows That Financial Intentions and Actions Are Often in Conflict

Fidelity Investments released new research on Generation X and Y, whose combined population will represent 60 percent of the U.S. workforce by 2010. The research indicates that when it comes to how both generations view and make decisions about money, they are often conflicted between their intentions and actions.

Fidelity Research on Generation X/Y Shows That Financial Intentions and Actions Are Often in Conflict
Source: Yahoo! Finance

Permalink posted by armandn @ 10:34 AM
 

AEGON Buys 50% Stake in Caixa Terassa's Life Insurance and Pension Unit

AEGON has signed a life insurance, pension and health joint venture agreement with savings bank Caixa Terrassa, further strengthening the Group's position in the Spanish market. The partnership gives AEGON access to the north-eastern region Catalonia, one of Spain's wealthiest and more dynamic areas with a population of more than seven million.

AEGON Buys 50% Stake in Caixa Terassa's Life Insurance and Pension Unit
Source: MarketWatch

Permalink posted by armandn @ 10:33 AM

Thursday, August 28, 2008

 

Life Insurance Mergers Create Management Recruiting Frenzy

Mergers and acquisitions have long dominated U.S. business headline, and life insurance company mergers have been among the most noteworthy.

Thirty years ago in America there were approximately 2,500 life insurance companies, and the number shrank to 1,500 by the late 1990s. Today approximately 800 life companies operate.

Life Insurance Mergers Create Management Recruiting Frenzy
Source: MarketWatch

Permalink posted by armandn @ 7:43 AM
 

When it Pays to Hire a Financial Professional

As I noted in a previous column, paying a financial planner an ongoing fee to handle every aspect of your financial plan can make sense if you're extremely time-pressed or if your finances are particularly complicated. Ditto if you're very rich. Paying for ongoing financial advice (and hand-holding) may also be worth it if you've had trouble sticking with your investment plan through the market's many ups and downs. The best advisors earn their keep many times over by saving investors from their own worst tendencies to buy high and sell low.

When it Pays to Hire a Financial Professional
Source: Yahoo! Finance

Permalink posted by armandn @ 7:41 AM
 

SecureLiving® Liberty SPDA Provides Competitive Rates and Flexibility

Genworth Life Insurance Company and Genworth Life Insurance Company of New York, subsidiaries of Genworth Financial, Inc. , are launching new single premium deferred annuities called SecureLiving® Liberty and SecureLiving® Liberty NY with 1, 3 or 5 year initial rate guarantee terms and “Bailout Rate” provisions. Effective August 25, 2008, SecureLiving® Liberty and Liberty NY will be available exclusively to the Broker/General Agency Channel.

SecureLiving® Liberty SPDA Provides Competitive Rates and Flexibility
Source: Insurance News Net

Permalink posted by armandn @ 7:40 AM
 

Lincoln Financial Group Named # 1 for 2007 Life Sales in LIMRA Report

Lincoln Financial Group today reported that it ranked #1 in life insurance sales for 2007 in LIMRA's latest annual life insurance sales survey.

Lincoln Financial Group Named # 1 for 2007 Life Sales in LIMRA Report
Source: PR Newswire

Permalink posted by armandn @ 7:39 AM

Wednesday, August 27, 2008

 

Pacific Select Exec IV Powers Up Life Insurance Protection with Features That Can Help Stabilize Market Volatility

Today's equities market is a roller coaster ride and even if retirement seems way off on the horizon, many people may wonder how their plans might be affected if the same circumstances coincide with their retirement. Pacific Select Exec IV,1 a new variable universal life insurance policy from Pacific Life Insurance Company, combines the power of life insurance death benefit protection with innovative features that can help address prolonged market volatility and downturns.

Pacific Select Exec IV Powers Up Life Insurance Protection with Features That Can Help Stabilize Market Volatility
Source: MarketWatch

Permalink posted by armandn @ 11:39 AM
 

Merging Mutual Funds, Annuities to Resonate with Retirees

Baby Boomers and their financial advisers are going to increasingly look for one-stop-shop solutions that combine mutual funds, annuities and systematic or laddered drawn-down schedules, Investment News reports.

Merging Mutual Funds, Annuities to Resonate with Retirees
Source: Financial Planning

Permalink posted by armandn @ 11:39 AM
 

Variable Annuities: Still a Better Deal for the Insurance Industry Than for Investors

Variable annuities have a tough row to hoe. Doomed to being measured against better alternatives, they simply can't overcome the burden of their fees or the higher tax rates investors must pay on their returns.

Variable Annuities: Still a Better Deal for the Insurance Industry Than for Investors
Source: Boston.com

Permalink posted by armandn @ 11:38 AM
 

Insurance Woes Persist

Insurance penetration has fallen to new lows in the month since Moody's Investors Service placed triple-A insurers Assured Guaranty Corp. and Financial Security Assurance Inc. on review for downgrade.

Insurance Woes Persist
Source: Financial Planning

Permalink posted by armandn @ 11:37 AM

Tuesday, August 26, 2008

 

Penn Mutual Introduces New Variable Universal Life and Annuity Products for Today's Consumer Needs

The Penn Mutual Life Insurance Company announces the introduction of Diversified GrowthSM VUL, its new variable universal life product (VUL) designed to maximize accumulation potential and ensure protection from significant financial risk, key considerations in today’s economy.

Penn Mutual Introduces New Variable Universal Life and Annuity Products for Today's Consumer Needs
Source: Business Wire

Permalink posted by armandn @ 7:41 AM
 

Prearranged Funerals Not Well Regulated

The prearranged funeral industry rakes in $90 million to $100 million a year in Missouri. By law, the operators can take 20 percent off the top for a quick profit, but they're supposed to set aside 80 percent to pay for funerals years from now. However, the state conducts no audits to see if the money actually is there or whether it is invested properly.

Prearranged Funerals Not Well Regulated
Source: Insurance News Net

Permalink posted by armandn @ 7:41 AM
 

Beacon's Fixed Annuity Premium Study Report Second Quarter's Bank Channel Sales

Insurance companies participating in the Beacon Research Fixed Annuity Premium Study again reported strong fixed annuity sales through U.S. banks in second quarter, 2008. The quarter's sales of $7 billion were 81.1% above second quarter, 2007 and 25.8% ahead of the previous quarter. Reported year-to-date sales of $12.6 billion were up 79.9% from first half, 2007.

Beacon's Fixed Annuity Premium Study Report Second Quarter's Bank Channel Sales
Source: MarketWatch

Permalink posted by armandn @ 7:38 AM
 

MassMutual Retirement Services Offering In-Depth Support to Plan Sponsors and Advisors in Anticipation of New 403(b) Regulations

MassMutual Retirement Services Division is reaching out to its existing 403(b) plan sponsor clients and their advisors to offer step-by-step support in anticipation of new 403(b) regulations expected to generally take effect on January 1, 2009.

MassMutual Retirement Services Offering In-Depth Support to Plan Sponsors and Advisors in Anticipation of New 403(b) Regulations
Source: PR Newswire

Permalink posted by armandn @ 7:36 AM

Monday, August 25, 2008

 

Sun Life Financial Introduces 6% Bonus Credit for Masters Extra Variable Annuity Clients

The U.S. division of Sun Life Financial Inc. today announced an enhanced purchase payment interest rate for its Masters® Extra Variable Annuity (VA) product. The rate, which increased from 5% to 6%, is applicable for all new accounts and for add-on payments from existing clients for all new purchase payments regardless of the amount of the payment or the issue date of the contract.

Sun Life Financial Introduces 6% Bonus Credit for Masters Extra Variable Annuity Clients
Source: Business Wire

Permalink posted by armandn @ 12:46 PM
 

Retirement Concerns Spreading to Siblings

Brother, can you spare some of your 401(k)?

Few people are saving enough for their own retirement, yet many say they are concerned they'll have to help support siblings as well as aging parents in the coming years, a study shows.

Retirement Concerns Spreading to Siblings
Source: Courant.com

Permalink posted by armandn @ 12:45 PM
 

Protecting Insurance Co. Annuity Funds

Many people are worried about the security of their money on the heels of the recent bank failures.

But Carl of Perry Hall, Md., said he is worried about something else.

"What concerns me more are funds that I have tied up in insurance company annuities," he writes in an e-mail. "These funds represent about one-third of my capital assets." Most deposits at banks are insured by the Federal Deposit Insurance Corp., of course. What protection, he wonders, is there for insurance companies and their customers?

Protecting Insurance Co. Annuity Funds
Source: Courant.com

Permalink posted by armandn @ 12:44 PM
 

Budgeting, Life Insurance Important for New Parents

If you're planning on having a baby, your finances should be in order. Babies come with a long laundry list of expenses. If not handled properly, they can become detrimental to your financial health.

Budgeting, Life Insurance Important for New Parents
Source: Lansing State Journal

Permalink posted by armandn @ 12:43 PM

Friday, August 22, 2008

 

Knowledge Transfer is Critical to Companies' Competitive Edge, as Large Numbers of Baby Boomers Begin to Retire

Most companies do not have a plan to manage and transfer knowledge and even fewer factor cross-generational challenges into business strategy, says a new report from The Conference Board, the global research and business membership organization.

Knowledge Transfer is Critical to Companies' Competitive Edge, as Large Numbers of Baby Boomers Begin to Retire
Source: PR Newswire

Permalink posted by armandn @ 7:54 AM
 

SPIAs, Suitability and Economic Value

The trend of fixed-pension incomes being replaced by baskets of assets continues. At the same time, one's home is an asset that is always presumed to be secure and safe -- without fail. Yet here, the subprime debacle is rewriting the value of America's most treasured asset. As markets change and forces converge, aggregate economic consumption is not being sustained by income or revenue growth. Instead, aggregate consumption is likely being fueled by asset sales such as homes, equities, savings accounts and depletions of IRA and 401(k) accounts by post-retirees.

SPIAs, Suitability and Economic Value
Source: Producers Web

Permalink posted by armandn @ 7:53 AM
 

Pension Expert Discusses the New Retirement

As one of America's leading researchers on finance, employee benefit plans and retirement economics, Olivia S. Mitchell was tapped by the National Institute on Aging, or NIA, to collaborate on one of the most comprehensive studies on aging ever undertaken.

Pension Expert Discusses the New Retirement
Source: Yahoo! Finance

Permalink posted by armandn @ 7:53 AM
 

RIAs Still (Successfully) Wooing Full-Service Clients

It has been a cruel year for a lot of wirehouse advisors, withthe subprime and ARS messes eroding client confidence in theirfirms. But times are good for registered investment adviser (RIA)firms. In fact, there is new evidence out there that RIAs may betaking clients from the wirehouses.

RIAs Still (Successfully) Wooing Full-Service Clients
Source: Insurance News Net

Permalink posted by armandn @ 7:52 AM

Thursday, August 21, 2008

 

The Only Way to Fix Social Security

John McCain and Barack Obama both talk about how they would put Social Security on sound financial footing. The program will face the first signs of a financial crunch within a decade and have to rely on Uncle Sam - who's in hock already - to make up for the shortfall.

The Only Way to Fix Social Security
Source: CNN Money

Permalink posted by armandn @ 7:16 AM
 

Donnie Wahlberg Says Life Insurance is a No-Brainer, Encourages Americans to Assess Their Needs

This September, singer, actor and producer Donnie Wahlberg will urge millions of Americans to make sure their financial plans have the "right stuff." When he's not touring the country with the reunited New Kids on the Block, Wahlberg will serve as the front man for national Life Insurance Awareness Month (LIAM), sharing his personal story to encourage Americans to examine their need for life insurance.

Donnie Wahlberg Says Life Insurance is a No-Brainer, Encourages Americans to Assess Their Needs
Source: PR Newswire

Permalink posted by armandn @ 7:15 AM
 

Nationwide Insurance Unveils New Ad Featuring Sanjaya Malakar

Nationwide Insurance® unveiled yesterday its newest Life Comes at You Fast® ad, featuring former American Idol contestant, Sanjaya Malakar. In the tradition of Kevin Federline, Fabio and MC Hammer, Sanjaya becomes the latest celebrity to poke fun of himself in one of Nationwide’s commercials. The company’s Web site features the new commercial. A new microsite allows fans to upload a personal image and create their own “Sanjaya” look using the Nationwide Sanjaya widget.

Nationwide Insurance Unveils New Ad Featuring Sanjaya Malakar
Source: Business Wire

Permalink posted by armandn @ 7:14 AM
 

The Hartford's Research Finds Stressed Out Workers Want Time Off With Ty, Tiger, and Rachel

Today's workers are stressed out about making ends meet, paying more at the pump, and dealing with work issues. They dream about having a day off from work with lifestyle gurus and sports stars. In reality, Americans are using much of their paid time-off tackling chores, caring for others, or recuperating from illness, according to recent research by The Hartford Financial Services Group, Inc.,one of the nation's largest diversified financial services companies.

The Hartford's Research Finds Stressed Out Workers Want Time Off With Ty, Tiger, and Rachel
Source: MarketWatch

Permalink posted by armandn @ 7:13 AM

Wednesday, August 20, 2008

 

All SEC Financial Data to be Interactive Within Two Years

Investors will be able to access financial disclosures from all U.S. public companies and mutual funds in an interactive format within two years, as regulators replace a 1980s-vintage, text-based reporting system with an Internet-based platform.

All SEC Financial Data to be Interactive Within Two Years
Source: USA Today

Permalink posted by armandn @ 8:00 AM
 

Is Your Financial Adviser at Fault?

Telephone calls flood in to financial planners each month as the pain of investment account statements hit home.

For many clients who had relied on advisers to steer them through a turbulent market, steep drops in the value of their portfolios are coming as a double-digit shock.

Is Your Financial Adviser at Fault?
Source: Hartford Courant

Permalink posted by armandn @ 8:00 AM
 

Taking the Mystery Out of Estate Planning

With the right education, experience and a keen instinct about human behavior, estate planning can be a very rewarding practice. When initially meeting with a couple who want to pass their assets to the next generation, you don't know the paths you will have to walk to reach their wants and desires. I have always enjoyed the fact that each case is very unique.

Taking the Mystery Out of Estate Planning
Source: Producers Web

Permalink posted by armandn @ 7:59 AM
 

Figure Out if You Can Afford to Retire

If you wait until you’re on the verge of your hoped-for retirement date and find that you’re not really prepared to retire, you’ll have a tougher time improving your situation than if you had started earlier.

Figure Out if You Can Afford to Retire
Source: Yahoo! Finance/CNN

Permalink posted by armandn @ 7:58 AM

Tuesday, August 19, 2008

 

Gender Gap Exists in Adequate Life Insurance Coverage Despite Greater Financial Concerns Among Women, According to MetLife Study

Despite heightened financial concerns for their families’ futures, working women are less likely than men to have adequate life insurance coverage. The sixth annual MetLife Study of Employee Benefits Trends reveals that, in general, female employees who have life insurance own only two times their household income in coverage. Male employees with life insurance, however, generally have three times their household income in coverage. This gender gap is surprising given that almost two-thirds (64%) of working women (vs. 52% of working men) are very concerned about their families’ financial futures in the event of their own premature death.

Gender Gap Exists in Adequate Life Insurance Coverage Despite Greater Financial Concerns Among Women, According to MetLife Study
Source: Business Wire

Permalink posted by armandn @ 7:38 AM
 

New Tool Helps Financial Professionals Navigate Beneficiary Planning

With more than $20 trillion passing from baby boomers to their heirs in the next 40 years, effective beneficiary planning is essential for investors seeking to pass assets onto future generations.

New Tool Helps Financial Professionals Navigate Beneficiary Planning
Source: Business Wire

Permalink posted by armandn @ 7:37 AM
 

An Older and More Diverse Nation by Mid-Century

The nation will be more racially and ethnically diverse, as well as much older, by mid-century, according to projections released today by the U.S. Census Bureau.

Minorities, now roughly one-third of the U.S. population, are expected to become the majority in 2042, with the nation projected to be 54 percent minority in 2050. By 2023, minorities will comprise more than half of all children.

An Older and More Diverse Nation by Mid-Century
Source: Business Wire

Permalink posted by armandn @ 7:36 AM
 

John Hancock Launches College Savings Back-to-School Campaign with Roll of the Die

John Hancock Freedom 529 launched its annual back-to-school campaign with an innovative marketing tool designed to grab financial consultants' attention: a full-fledged leave-behind board game for young players ages 5-10, called "The Road to College."

John Hancock Launches College Savings Back-to-School Campaign with Roll of the Die
Source: Yahoo! Finance

Permalink posted by armandn @ 7:32 AM

Monday, August 18, 2008

 

TransAmerica Introduces Principium II Variable Annuity

Transamerica Life Insurance Company (Transamerica) today introduced its newest variable annuity, Transamerica Principium II, which offers lower costs and a new pair of ETF-based subaccount choices. Principium II also includes the same benefits and features available with the majority of Transamerica's variable annuity suite, with limited investment options.

TransAmerica Introduces Principum II Variable Annuity
Source: MarketWatch

Permalink posted by armandn @ 10:41 AM
 

Accumulating Wealth or Protecting Your Money: Which Should Come First?

Here’s a question I’m sure you’ve been asked at least once: Is it better for young people, in the prime of their life, to concentrate on accumulating wealth, or to protect their resources with forms of insurance? When you really get into it, a fascinating discussion takes place, especially if you’re talking with other professionals.

Accumulating Wealth or Protecting Your Money: Which Should Come First?
Source: Life Insurance Selling

Permalink posted by armandn @ 10:40 AM
 

Prudential Study Sheds Light On the Increasing Costs of Long-Term Care

According to the U.S. Census Bureau, by 2030 the number of Americans aged 65 and older will more than double to 71 million, comprising approximately 20 percent of the U.S. population. With an aging population boom, Prudential Financial, Inc.’s ) newly issued 2008 Long-Term Care Cost of Care research report is a valuable resource for consumers seeking information to help them make informed decisions about their long-term care needs. The study found an increase in the average cost of long-term care ranging from 5% to 13%, varying by type of service, in the past two years alone.

Prudential Study Sheds Light On the Increasing Costs of Long-Term Care
Source: Insurance News Net

Permalink posted by armandn @ 10:39 AM
 

Genworth Announces New Wealth Management Division

Genworth Financial, Inc. today announced the launch of its new wealth management division, Genworth Financial Wealth Management, Inc. The announcement completes the integration of two Genworth companies, AssetMark Investment Services, Inc. and Genworth Financial Asset Management. Genworth completed its acquisition of AssetMark in October 2006.

Genworth Announces New Wealth Management Division
Source: Yahoo! Finance

Permalink posted by armandn @ 10:38 AM

Friday, August 15, 2008

 

Indexed Annuities Help Boomers Prepare for Days of Necessity

When it comes to retirement planning, baby boomers are inundated with advertising, news stories, and marketing literature about what they should be doing now to prepare for retirement. Despite all of the warnings and the deluge of information, many still procrastinate and do not fully understand all the financial vehicles available to them. This procrastination among baby boomers calls to mind one of Aesop’s most popular fables — The Ant and the Grasshopper.

Indexed Annuities Help Boomers Prepare for Days of Necessity
Source: Life Insurance Selling

Permalink posted by armandn @ 12:43 PM
 

Despite Annuity Demand, Banks Don't Respond

With the mortgage and credit markets in shambles and banks reining in lending, any income is welcome income. So community bankers should take note that they're trailing their bigger brethren when it comes to offering a product rich in fees that consumers increasingly desire in uncertain times: annuities.

Despite Annuity Demand, Banks Don't Respond
Source: Financial-Planning

Permalink posted by armandn @ 12:42 PM
 

Double Jeopardy: Women and Long-Term Care

With our aging population, greater longevity, rapidly accelerating costs of care and near universal lack of preparation, long term care is not only a societal issue, but also an issue increasingly aimed at women. Why? Because when it comes to the twin risks of giving and receiving care, women fall into the significant majority of both groups. These risks often put women in great financial danger, particularly later in life.

Double Jeopardy: Women and Long-Term Care
Source: Producers Web

Permalink posted by armandn @ 12:41 PM
 

Insurance Agents Are Advisors According to the NAIC

Some people can claim all they want, that insurance agents are not qualified to utter the word "investment" (because that is what is happening), but that's simply ridiculous. The pink elephant in the room is that general information is being discussed about securities generically, in an educational or in an informational manner, and this has always occurred. That is not the same as providing investment advice.

Insurance Agents Are Advisors According to the NAIC
Source: Producers Web

Permalink posted by armandn @ 12:41 PM

Thursday, August 14, 2008

 

MIB Life Index Reports North American Life Insurance Activity Flat in July

North American application activity for individually underwritten life insurance was flat in July, off -0.2% year-over-year, according to the MIB Life Index. Year-to-date (YTD) U.S. and Canadian application activity was off -1.7% compared to the same period last year. July's activity was off -4.8% when compared to June 2008.

MIB Life Index Reports North American Life Insurance Activity Flat in July
Source: PR Newswire

Permalink posted by armandn @ 7:55 AM
 

MetLife Commences Exchange Offer for Split-Off Reinsurance Group of America, Incorporated

MetLife, Inc. announced today that it has commenced an offer to its stockholders to exchange all or some of their shares of MetLife common stock for 29,243,539 shares of class B common stock of Reinsurance Group of America, Incorporated. This offer is being made in connection with the companies’ June 2, 2008 announcement of MetLife’s intent to split-off substantially all of its 52% interest in RGA.

MetLife Commences Exchange Offer for Split-Off Reinsurance Group of America, Incorporated
Source: Business Wire

Permalink posted by armandn @ 7:54 AM
 

Why Waste Life Insurance on Kids?

Most of us appreciate “lost money found” – like that $20 bill you find in a pants pocket. Life insurance on kids is the pants pocket: a step up for cash later on. The accumulated cash value can allow for loans for college, a new house, new cars, and vacations. (Incidentally, you may want to own the kids’ policies, because otherwise they can do whatever they want with the cash value buildup!) They also can use the cash value of the policy to be flexible with the premium when, say, they get married and funds are limited.

Why Waste Life Insurance on Kids?
Source: Life Insurance Selling

Permalink posted by armandn @ 7:53 AM
 

Profits Rise at RIA Firms, But Struggles Remain

Assets, revenues and net profits reached all-time highs at financial advisory firms in 2007, according to a new study by Rydex released Wednesday. Expenses, however, also rose, forcing net profit margins to drop to 24% in 2007, from 28% in 2006. The Rydex AdvisorBenchmarking 2008 Annual Survey illustrates the results of a study of 1,020 registered investment advisory (RIA) firms during the period from March to May of last year.

Profits Rise at RIA Firms, But Struggles Remain
Source: Financial-Planning

Permalink posted by armandn @ 7:52 AM

Wednesday, August 13, 2008

 

Weakening U.S. Economy Takes its Toll on American's Health

To save money, many Americans are cutting back on medical care -- potentially putting their health at risk -- according to new research from the National Association of Insurance Commissioners (NAIC).

Weakening U.S. Economy Takes its Toll on American's Health
Source: PR Newswire

Permalink posted by armandn @ 1:11 PM
 

Combine the Power of Annuities, Mutual Funds

For many people, the perfect investment in today's difficult markets would combine the strong long-term returns of a top mutual fund and the protection against losses offered by some annuities.

Combine the Power of Annuities, Mutual Funds
Source: Insurance News Net

Permalink posted by armandn @ 1:10 PM
 

Life Insurance & Estate Planning - What Wealthy Families Want to Know

An estimated $41 trillion in US assets will change hands by 2052.1 Families, especially wealthy families, have specialized estate planning needs but can be confused by complex estate planning strategies full of legalese so Pacific Life Insurance Company and Pacific Life & Annuity Company now offer a kit of “plain English” materials to show how life insurance can stabilize and strengthen estate planning techniques.

Life Insurance & Estate Planning - What Wealthy Families Want to Know
Source: Pacific Life

Permalink posted by armandn @ 1:09 PM
 

AIG American General Introduces Next Generation of Index Interest Universal Life Products

Building on the success of its popular AIG Elite Global IUL(R) index universal life product, AIG American General announced today the introduction of AIG Elite Global Plus(SM) and AIG Elite Global Survivor(SM), each underwritten by American General Life Insurance Company (AGL) and The United States Life Insurance Company in the City of New York (USL), subsidiaries of American International Group, Inc. (AIG). With these enhanced offerings, consumers can now choose a single life policy or a survivor policy, creating more options to meet their specific needs and situation.

AIG American General Introduces Next Generation of Index Interest Universal Life Products
Source: MarketWatch

Permalink posted by armandn @ 1:08 PM

Tuesday, August 12, 2008

 

MassMutual's e4 Handheld Technology Drives Retirement Plan Participants to New Heights in Participation and Savings

MassMutual Retirement Services' patent-pending e4(SM) wireless enrollment technology has reached new levels of success in participant response rates according to the most recent data.

MassMutual's e4 Handheld Technology Drives Retirement Plan Participants to New Heights in Participation and Savings
Source: PR Newswire

Permalink posted by armandn @ 7:10 AM
 

Transforming Wealthy Friends into Clients

There are several good ways to approach people who are new friends or acquaintances, and old established friends. You want to expand the relationship to one that is both social and business. It is all about how you ask for the business.

Transforming Wealthy Friends into Clients
Source: Life Insurance Selling

Permalink posted by armandn @ 7:04 AM
 

MetLife's Benefits Benchmarking Tool Provides Employers and Brokers Trend Insights to Help Optimize Workplace Plans

MetLife, a leading provider of employee benefits, announced the introduction of its 2008 Web-based Benefits Benchmarking Tool. The MetLife Benefits Benchmarking Tool enables employers and brokers to quickly compare and contrast relevant benefits offerings and objectives through customized queries in 35 areas. The enhanced Tool adds a number of additional demographic segments across which the data can be sorted, including an employee’s household income, generation and life stage, and provides deeper looks into topical subject areas such as wellness programs and retiree benefits.

MetLife's Benefits Benchmarking Tool Provides Employers and Brokers Trend Insights to Help Optimize Workplace Plans
Source: Business Wire

Permalink posted by armandn @ 7:03 AM
 

Wealthy Investors Grow Pessimistic

As the stock market continues to stumble along, high-net-worth investors are becoming increasingly pessimistic about the economy and dissatisfied with the performance of their financial services providers.

"When times are going well, people don't complain about fees, they complain about softer stuff, like how they don't think their adviser is attentive enough," said Walt Zultowski, senior vice president of research and concept development for The Phoenix Companies and author of the "2008 Phoenix Wealth Survey."

Wealthy Investors Grow Pessimistic
Source: Financial-Planning

Permalink posted by armandn @ 7:02 AM

Monday, August 11, 2008

 

AXA Equitable Offers Americans Life Insurance Protection at Affordable Prices

In today's economy, many Americans are looking for help in providing financial security for their spouses, families or businesses. To meet that need, 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 and improved conversion privileges on its new portfolio of term products -- AXA Equitable's Term Series(SM). The announcement was made by Claude Methot, Senior Vice President and Chief Product Officer.

AXA Equitable Offers Americans Life Insurance Protection at Affordable Prices
Source: Yahoo! Finance

Permalink posted by armandn @ 12:30 PM
 

Dichotomies of the 22 Million Mass Affluent

America's new mass affluent blend so effortlessly into society that it's often impossible to tell them apart from a traditional middle class family one day, or from an upper class family the next.

Depending on which day you encounter a typical new mass affluent family, a mother could be found cutting out coupons and buying bulk at Sam's Club, or she and her husband could be playing golf at their country club.

Dichotomies of the 22 Million Mass Affluent
Source: Financial-Planning

Permalink posted by armandn @ 12:27 PM
 

Split Decision: One Retires, One Doesn't

Many of us have begun to look around the next corner in our lives, focusing less on accumulating assets than on when to start drawing them down. Making the transition especially sticky, few husbands and wives among the dual-income couples I know expect to turn in their briefcases at the same time.

Split Decision: One Retires, One Doesn't
Source: CNN Money

Permalink posted by armandn @ 12:24 PM
 

The Legal Problems the NASD/FINRA May Face by Making EIAs a Security

An examination of the Securities Act of 1933 and IRS Rule 151 produces the logical delineation by which the SEC has separated insurance and securities products. Let's start with a brief description of each Section.

The Legal Problems the NASD/FINRA May Face by Making EIAs a Security
Source: Producers Web

Permalink posted by armandn @ 12:20 PM

Friday, August 08, 2008

 

Internet Insurance Leads Open Up New Doors for Agents

Are you looking for a way to achieve further success as an agent? If so, you do not have to look any further than internet insurance leads. When it comes down to it, internet and related technology is the wave of the future. Knowing how to use the internet to increase sales will allow you to become a better agent in the long run. Of course, you need to have a solid hold on the details surrounding internet insurance leads. After all, you cannot expect to buy leads and have them turn into sales in front of your eyes. It takes work to make money via the internet. That being said, it is an opportunity that most agents are willing to explore.

Internet Insurance Leads Open Up New Doors for Agents
Source: Insurance News Net

Permalink posted by armandn @ 7:06 AM
 

More Senior Executives Taking a Role in Managing Employee 401(k) Plans

Significantly more senior executives are taking a direct role in decisions regarding their organization's 401(k) plans than in the past, according to Cowden Associates, Inc.'s Second Annual Tri-State Defined Contribution Plan Sponsor Survey.

More Senior Executives Taking a Role in Managing Employee 401(k) Plans
Source: Cleveland Examiner

Permalink posted by armandn @ 7:05 AM
 

Bank Annuity Sales Fall in May

In May, total bank annuity sales declined for the second month in a row. According to the Kehrer-JacksonSM Monthly Bank Annuity Sales Survey, financial institutions sold $4.1 billion of fixed and variable annuities in May 2008, down from $4.9 billion in April and $5.1 billion in March. The monthly survey is based on a national sample of banks that have a minimum of $4 billion in assets.

Bank Annuity Sales Fall in May
Source: Insurance News Net

Permalink posted by armandn @ 7:04 AM
 

Nationwide: The Feelings are Mutual

When Nationwide Mutual offered in March to buy all of the shares it doesn't own in subsidiary Nationwide Financial Services, some analysts speculated that it was hoping to attract a higher bid from a third party. On Wednesday, it sealed the deal at a higher price.

Nationwide: The Feelings are Mutual
Source: Forbes

Permalink posted by armandn @ 7:01 AM

Thursday, August 07, 2008

 

More Banks Look Into Investment Services

Traditionally, banking institutions have been offering mainly interest rate business that provides business and personal loans at profitable interest rates. Although they offer a few investment products, such as CDs, there are no advisor fees attached to the purchases, unlike the fee-based investment products available from other financial firms.

More Banks Look Into Investment Services
Source: Insurance News Net

Permalink posted by armandn @ 7:15 AM
 

Know When to Replace Your Financial Adviser

Telephone calls began flooding in to financial planners early last month as the pain of June 30 account statements hit home.

For many clients who had relied on advisers to steer them through a turbulent market, steep drops in the value of their portfolio from as recently as a month earlier came as a double-digit shock. "That's when the phone calls start — when the market goes bad and they get a statement," said Ed Gjertsen, a certified financial planner in Glenview, Ill.

Know When to Replace Your Financial Adviser
Source: Hartford Courant

Permalink posted by armandn @ 7:14 AM
 

The Legal Problems the NASD/FINRA May Face by Making EIAs as a Security

An examination of the Securities Act of 1933 and IRS Rule 151 produces the logical delineation by which the SEC has separated insurance and securities products. Let's start with a brief description of each Section.

The Legal Problems the NASD/FINRA May Face by Making EIAs as a Security
Source: Producers Web

Permalink posted by armandn @ 7:12 AM
 

AIG Reports Second Quarter 2008 Results

American International Group, Inc. (AIG) today reported a net loss for the second quarter of 2008 of $5.36 billion or $2.06 per diluted share compared to 2007 second quarter net income of $4.28 billion or $1.64 per diluted share. Second quarter 2008 adjusted net loss, as defined below, was $1.32 billion or $0.51 per diluted share, compared to adjusted net income of $4.63 billion or $1.77 per diluted share for the second quarter of 2007. The continuation of the weak U.S. housing market and disruption in the credit markets, as well as global equity market volatility, had a substantial adverse effect on AIG's results in the second quarter.

AIG Reports Second Quarter 2008 Results
Source: CBS MarketWatch

Permalink posted by armandn @ 7:11 AM

Tuesday, August 05, 2008

 

A Longer Retirement Than You Ever Dreamed Of

Your retirement will look nothing like your parents' retirement.

Hopefully this is obvious to you, since there are many differences between your generation and theirs, but one thing you may not have considered is that thanks to ongoing improvements in health care, you'll live much longer than the previous generation.

A Longer Retirement Than You Ever Dreamed Of
Source: Fool.com

Permalink posted by armandn @ 7:59 AM
 

Municipal Bonds vs. Immediate Annuities for Income in Retirement

New York Life has analyzed the income-generating potential of many financial instruments in comparison with fixed income annuities. Municipal bonds (munis) offer relative safety, as do income annuities from highly-rated insurers. Munis also offer some tax advantages. Even considering the tax advantages, however, we believe that income annuities can be more efficient than munis in generating income.

Municipal Bonds vs. Immediate Annuities for Income in Retirement
Source: Life Insurance Selling

Permalink posted by armandn @ 7:57 AM
 

Are You On Track with Your Retirement Plan

Would you prefer to be alarmed by how unprepared you might be for retirement? Or would you rather be lulled into a false sense of security?

Me, I'd rather be lulled because then I could meander through life without a care in the world. But no matter what you'd rather feel, it's wise to become aware of your retirement needs and take appropriate action to reach your goals. Turn that feeling of alarm -- or complacency -- into action.

Are You On Track with Your Retirement Plan
Source: BankRate.com

Permalink posted by armandn @ 7:56 AM
 

Too Much Selling, Not Enough Sales

Several years ago, one of the largest insurance agencies in New York asked us to teach their agents how to sell better. They gave us a group of 20 life insurance agents who were considered hard workers and had a high potential for success. All of them had been selling insurance for between two and three years. We met in the training room of their building.

Too Much Selling, Not Enough Sales
Source: Producers Web

Permalink posted by armandn @ 7:55 AM

Monday, August 04, 2008

 

PruLife 'Universal Protector' Rates Rank #1 in Many Scenarios

Prudential Financial, Inc. announced today that Pruco Life Insurance Company has repriced its universal life insurance product to be more competitive in the marketplace. In the Universal Life Insurance market, PruLife Universal Protector® now frequently ranks No. 1 among 15 key competitors, for full and single payment scenarios, and in preferred underwriting categories for clients who are ages 35 to 70. For the analysis, pricing for PruLife Universal Protector was measured against the leading 15 companies selected for competitiveness and volume of sales reported to LIMRA, as of first quarter 2008.

PruLife 'Universal Protector' Rates Rank #1 in Many Scenarios
Source: Yahoo! Finance

Permalink posted by armandn @ 12:44 PM
 

Social Security Unveils Help for Baby Boomers

Can you put a finger on your Social Security wages from 1993?

The answer goes a long way toward determining whether a new tool from the Social Security Administration is worth your time to investigate.

Social Security Unveils Help for Baby Boomers
Source: Hartford Courant

Permalink posted by armandn @ 12:43 PM
 

The Penn Mutual Life Insurance Company Introduces Guaranteed Protection Universal Life

The Penn Mutual Life Insurance Company announces its new Guaranteed Protection Universal Life product, designed to offer clients affordable, permanent guaranteed death benefit protection and increased cash accumulation that provides added flexibility. This competitively priced product is offered in conjunction with Penn Mutual's commitment to accommodate the varying and changing needs of its clients.

The Penn Mutual Life Insurance Company Introduces Guaranteed Protection Universal Life
Source: MarketWatch

Permalink posted by armandn @ 12:42 PM
 

BofA: Affluent Satisfied with Alternative Investments

The affluent tend to gravitate towards taking on more risk with their investment decisions. Now a new survey from Bank of America shows that strategy appears to have paid off when it comes to alternative investments.

BofA: Affluent Satisfied with Alternative Investments
Source: Financial-Planning

Permalink posted by armandn @ 12:40 PM

Friday, August 01, 2008

 

Social Security Fix: Delay Retirement, Group Says

Want to keep Social Security from going bankrupt? Make future recipients wait longer for their first benefit check because they probably will live longer anyway, an influential group of actuaries says.

Social Security Fix: Delay Retirement, Group Says
Source: CNN Money

Permalink posted by armandn @ 7:04 AM
 

Is Your Client Saving Too Much for Retirement?

Scott Burns has spent decades trying to figure out how people can retire comfortably — and yet sacrifice as little as possible pre-retirement. Which is ironic since Burns, at the age of 67, appears to have no interest in filling his Golden Years with tee times and early-bird buffet specials.

Is Your Client Saving Too Much for Retirement?
Source: Registered Rep

Permalink posted by armandn @ 7:03 AM
 

The Role of Income Riders on Fixed Annuities

Insurance companies began using the term “income planning” several years ago to promote new and innovative riders on annuities. In only a few years, clients started making decisions about their advisor relationship largely on the advisor’s ability or willingness to plan for income. In the Fidelity Advisor 2006 Survey of Investors at Retirement, seven of 10 baby boomers indicated they wanted to discuss income planning. Less than four of 10, however, had an income discussion with their advisor. More important for advisors, McKinsey & Co’s “Managing Retirement Income: Innovative Strategies to Capture and Retain Retirement Income” research found that 75% of investment clients planned to add or switch advisors within 15 years of retirement. Clearly, an advisor’s ability to plan for income creates an opportunity to retain and capture new clients over the next two decades.

The Role of Income Riders on Fixed Annuities
Source: Life Insuranc Selling

Permalink posted by armandn @ 7:03 AM
 

Jackson Sets Company Record with $7.6 Billion in Total Sales and Deposits

Jackson National Life Insurance Company® (Jackson) generated nearly $7.6 billion in total sales and deposits in the first half of 2008, a company record for a six-month reporting period. Jackson's total sales and deposits rose 2 percent over the first half of 2007, driven primarily by a 26-percent increase in institutional product sales and a 121-percent increase in sales of traditional fixed annuities.

Jackson Sets Company Record with $7.6 Billion in Total Sales and Deposits
Source: Yahoo! Finance

Permalink posted by armandn @ 7:02 AM

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