Thursday, July 31, 2008

 

Net Income at Phoenix Cos. Drops in Second Quarter

Net income at The Phoenix Cos. plunged 80 percent in the second quarter on investment results and millions of dollars of expenses from a contested election of directors and the planned spinoff of the asset management business.

Net Income at Phoenix Cos. Drops in Second Quarter
Source: Hartford Courant

 

Hanover to Sell Remaining Life Insurance Business

Hanover Insurance Group Inc. said Thursday that it plans to sell its remaining life insurance business, First Allmerica Financial Life Insurance Co., to a Goldman Sachs Group Inc. subsidiary for net proceeds of $220 million.

Hanover to Sell Remaining Life Insurance Business
Source: CNN Money

 

MetLife Resources Introduces Enhanced 403(b) Product

MetLife Resources, a division of MetLife, today announced that it has bolstered its suite of solutions for 403(b) plans not subject to the Employee Retirement Income Security Act (ERISA) with the launch of an innovative new product, ExpertSelect SM. Through ExpertSelect, MetLife makes available the objective investment expertise of Morningstar Associates, LLC. This new product is designed to help employers offer 403(b) plans that have a broad range of investment options to their employees.

MetLife Resources Introduces Enhanced 403(b) Product
Source: Business Wire

 

To Protect Your Nest Egg, Tread Carefully

For retirees whose portfolios have been clobbered by the bear market for stocks, it's not going to be easy to make that money back.

But there are steps you can take to help get back on track, including some moves that can provide tax relief down the road.

To Protect Your Nest Egg, Tread Carefully
Source: WSJ/Yahoo! Finance

Wednesday, July 30, 2008

 

John Hancock Funds Launches Redesigned Adviser Center

John Hancock Funds announced the launch of its newly redesigned Adviser Center on its award-winning web site:

http://www.jhfunds.com

This section of the web site, available to financial advisers who register with John Hancock Funds, provides services and tools to help advisers build their business.

John Hancock Funds Launches Redesigned Adviser Center
Source: Yahoo! Finance

 

SEC Proposal to Reclassify Annuities as Securities Products Has Far-Reaching Implications for Industry and Consumers

In June 2008, the U.S. Securities and Exchange Commission released a proposal to reclassify the annuity products referred to as fixed indexed annuities or equity indexed annuities (indexed annuities) as securities. New research from TowerGroup finds that this proposal has far-reaching implications for the insurance companies and agents selling the products as well as for consumers, whom the proposal is primarily intended to protect.

SEC Proposal to Reclassify Annuities as Securities Products Has Far-Reaching Implications for Industry and Consumers
Source: Insurance News Net

 

TIAA-CREF Series Looks at Myths and Facts About Retirement Income

As Baby Boomers approach retirement, a growing number of individuals will confront the challenge of converting their savings into income that may need to last for as long as 30 years. A new article by TIAA-CREF explores approaches to maximizing the potential of annuities to help assure individuals never run out of money.

TIAA-CREF Series Looks at Myths and Facts About Retirement Income
Source: MarketWatch

 

Estate Tax Traps

Nearly 55 percent of Americans have no written wills, a surprising fact considering that proper estate planning could save your clients millions of dollars in taxes.

Estate Tax Traps
Source: Producers Web

Tuesday, July 29, 2008

 

John Hancock Introduces New Protection UL-G

John Hancock Life Insurance today announced the launch of its new Protection UL-G product. The product includes a Cash Value Advantage rider, a new fixed loan rate, and reductions in limited period guarantee premiums, making the product more versatile and competitive than ever, said Steve Finch, President, John Hancock Life Insurance.

John Hancock Introduces New Protection UL-G
Source: Yahoo! Finance

 

SEC Seeks to Regulate Indexed Annuities Agents

Amid growing concerns over abusive sales practices by insurance agents, the Securities and Exchange Commission has proposed to regulate the increasingly popular indexed annuity as a securities product, a move that has sparked anxiety within the insurance industry.

SEC Seeks to Regulate Indexed Annuities Agents
Source: Hartford Business

 

Investment Strategies and Growth Projecttions for Insurance Linked Securities

Organized by Finance IQ, a division of the International Quality & Productivity Center (IQPC), the 4th Insurance Linked Securities Summit was held July 16-18, 2008 at The Fairmont Southampton in Bermuda. ILS professionals on the life and non-life sides of the insurance, reinsurance and capital markets industries explored the latest deals, products, tools, and investment and hedging strategies for life settlements, life insurance, catastrophe, and property and casualty markets.

Investment Strategies and Growth Projecttions for Insurance Linked Securities
Source: MarketWatch

Monday, July 28, 2008

 

Nationwide Financial Unveils New 'Your Life' Accumulation VUL Product

Planning for the future used to be simple, but in today’s new economic reality, things are more complex.

To help boost consumer confidence, Nationwide Financial Services, Inc. today launched Nationwide YourLifeSM Accumulation VUL, the newest member of its YourLifeSM suite of life insurance products.

Nationwide Financial Unveils New 'Your Life' Accumulation VUL Product
Source: Yahoo! Finance

 

Affluent Investors Want Advisors' Investment Research

What's attractive to the crowd with more $500,000 in investable assets? Investment research from their advisors, apparently.

According to new report from the Spectrem Group a whopping 73% of affluent investors agreed that investment research is important to them.

Affluent Investors Want Advisors' Investment Research
Source: Financial-Planning.com

 

The Fixed Annuity Income Riders

Annuity income riders are designed to provide safety of investment, predictable, guaranteed, lifetime income and peace of mind to people who are worried about running out of money in retirement.

The Fixed Annuity Riders
Source: Insurance News Net

 

Insurers Tackle Managing Diseases While Maintaining Privacy

The relationship often begins with a telephone call. Like a telemarketer for health, a nurse calls a patient to inquire about a recent medical visit, diagnosis or questionnaire.

As employers look to lower long-term health care costs, most are turning to disease-management and wellness programs for help. However, some critics worry the programs could infringe on workers' privacy.

Insurers Tackle Managing Diseases While Maintaining Privacy
Source: Insurance News Net

Friday, July 25, 2008

 

401(k) Industry Focusing on Use of Annuities to Enhance Retirement Security

Increasingly, the benefits community is exploring ideas that might encourage 401(k) account holders to annuitize at least part of their retirement saving. Their reasons: Concerns that retired individuals will outlive their retirement savings, especially because retirees now are living longer. Worries over whether investment strategies funded by lump sums are sound also have been exacerbated by recent financial market volatility.

401(k) Industry Focusing on Use of Annuities to Enhance Retirement Security
Source: Insurance News Net

 

Retirement Assets Reach $17.6 Trillion

Despite difficult market conditions, Americans continued to save more for retirement last year, according to the Investment Company Institute.

Retirement Assets Reach $17.6 Trillion
Source: Financial-Planning

 

Social Security Unveils New Earnings Calculator

People planning for retirement got a new tool this week: a fast and easy online estimator for their Social Security benefits.

The Social Security Administration unveiled its new retirement estimator on its Web site Monday. It takes just a few points and clicks and some personal information to produce benefit estimates within a few minutes.

Social Security Unveils New Earnings Calculator
Source: Yahoo! Finance

Thursday, July 24, 2008

 

Prudential Annuities Announces 'Highest Daily Lifetime Seven' with Lifetime Income Accelerator

Prudential Annuities, the domestic annuity business for Prudential Financial, Inc. today announced the latest innovation in its award-winning1 array of variable annuity optional living benefits, Highest Daily Lifetime Seven with Lifetime Income Accelerator. This flexible income option can double investors’ annual income amount should certain health conditions be present.

Prudential Annuities Announces 'Highest Daily Lifetime Seven' with Lifetime Income Accelerator
Source: Yahoo! Finance

 

Affluent Baby Boomers' Retirement Concerns: A Missed Opportunity?

Recent surveys have revealed baby boomers’ anxiety about their retirement, offering greater opportunities for advisors and producers to help alleviate those fears.

Affluent boomers with at least $250,000 in investable assets and high-net-worth investors with at least $1 million in investable assets are on edge over the security of their retirement according to the report, “The Retirement Income Dilemma: 2008.”

Affluent Baby Boomers' Retirement Concerns: A Missed Opportunity?
Source: Insurance News Net

 

Northwestern Mutual and Nippon Life Pursue Business Agreement

Northwestern Mutual and Nippon Life announced today that they have agreed to explore potential joint business opportunities continuing the positive relationship between the two leading mutual life insurance companies that has developed over the last several years.

Northwestern Mutual and Nippon Life Pursue Business Agreement
Source: PR Newswire

Wednesday, July 23, 2008

 

New Survey Shows Young People Increasingly Living on the Financial Edge

Qvisory, a new online advocacy organization aimed at helping young adults with their money, work, and health concerns today released a set of survey findings via an online forum, illustrating the severe impact of the current economic crisis on 18 to 34 year-olds.

New Survey Shows Young People Increasingly Living on the Financial Edge
Source: Insurance News Net

 

Fixed Indexed Annuities Can Be a Powerful Bond Substitute

In the 1890s, caramel was the candy of choice in America. Milton Hershey, however, had a vision that milk chocolate could capture the taste buds of the nation. The rest of the Hershey Chocolate story is history. The same is true of fixed indexed annuities (FIAs). Despite this past year, in which this emerging savings tool had to confront regulatory challenges, as well as a strong stock market and an inverted yield curve, FIAs still provide a viable alternative to laddered CDs, bonds, bond funds, and even the fixed component of a variable annuity (VA) asset allocation model.

Fixed Indexed Annuities Can Be a Powerful Bond Substitute
Source: Life Insurance Selling

 

Insurers See Warnings Flashing Amid Strong Growth in Emerging Economies

Insurance industry executives from around the world convened in Taipei, Taiwan for the annual seminar of the International Insurance Society to talk about how to fully prosper in the world’s fastest-growing economies. Amid the presentations and press conferences, delegates found themselves in agreement that high growth rates in countries like Taiwan, China, Brazil, India and Saudi Arabia can present new dangers.

Insurers See Warnings Flashing Amid Strong Growth in Emerging Economies
Source: A.M. Best (subscription required)

Tuesday, July 22, 2008

 

John Hancock Variable Annuities Launches 'Advisor of Choice'

John Hancock Variable Annuities today announced a major program designed to support advisors' efforts to expand their business with simple new tools to develop guaranteed retirement income plans for their clients.

John Hancock Variable Annuities Launches 'Advisor of Choice'
Source: MSN Money Central

 

Protective Life and West Coast Life Introduce a New Series of Universal Life Products

Protective Life Insurance Company and West Coast Life Insurance Company announced the release of a new series of universal life policies, the Protective Centennial G II Universal Life(SM) Series and the West Coast LifeTime Platinum III Universal Life Series.

Protective Life and West Coast Life Introduce a New Series of Universal Life Products
Source: Reuters

 

The Art of Retirement: Can Retirement Get Any Better Than It Was?

I've asked for years if retirement in America could get any better. So many things have been in place for a good life in retirement. But has that bubble popped?

The Art of Retirement: Can Retirement Get Any Better Than It Was?
Source: Insurance News Net

 

Lincoln Financial Group Enhances Focus on Retirement and Insurance Solutions with New Divisions

Lincoln National Corporation announced a realignment of its Employer Markets and Individual Markets divisions into two new divisions: Retirement Solutions and Insurance Solutions. The new structure is more closely aligned with consumer needs and will lead to more coordinated product development and greater effectiveness across the enterprise.

Lincoln Financial Group Enhances Focus on Retirement and Insurance Solutions with New Divisions
Source: MarketWatch

Monday, July 21, 2008

 

Estate Planning for Unmarried Couples

Estate planning discussions usually assume a nuclear family household, i.e. a married couple with children. However, nuclear families make up less than 25% of U.S. households, which means the majority of Americans — especially those in the “unmarried couples” category -- need a nontraditional approach to estate planning.

Estate Planning for Unmarried Couples
Source: Life Insurance Selling

 

Financing Disaster: How Much Insurance is Enough

These days, you can insure everything from your pet to your daughter's honeymoon. When it comes to daily living, there is so much to insure and the policies are difficult to understand.

Financing Disaster: How Much Insurance is Enough
Source: MarketWatch

 

Pros and Cons of Fixed Annuities

I'm sure you have heard about annuities. There are two types and this article is on fixed annuities. Most of us have seen a presentation or own a fixed annuity. Let's discuss the pros and cons of this product.

Pros and Cons of Fixed Annuities
Source: Coshocton Tribune

Friday, July 18, 2008

 

Prudential and Long Term Care Resources Establish Long-Term Care Discount Program for Teachers and Professional Educators

Prudential Financial, Inc.’s Group Insurance business, in partnership with Long Term Care Resources (LTCR), established a new affinity marketing program offering discounts on long-term care insurance for teachers and professional educators. The Educators Long Term Care (LTC) Discount Program is a comprehensive long-term care insurance initiative available to more than 63 professional teacher/educator associations beginning this month, and has the potential of reaching over 1 million teachers.

Prudential and Long Term Care Resources Establish Long-Term Care Discount Program for Teachers and Professional Educators
Source: Yahoo! Finance

 

AIG ContinUL Extend Offers Increased Flexibility and Guarantees

AIG American General announced today new features to its popular AIG ContinUL Extend®, a universal life insurance product underwritten by American General Life Insurance Company and The United States Life Insurance Company in the City of New York, subsidiaries of American International Group, Inc. (AIG).

AIG ContinUL Extend Offers Increased Flexibility and Guarantees Source: Business Wire

 

Making Life Insurance Sales in Tougher Times

No one wants to mention the “R” word, even though it’s on everyone’s mind and news outlets all over the world talk about it daily. Most of us, particularly if we are in sales, like to act as if ignoring economic pain will help us succeed. We want to be positive even when surrounded by negativism. To many, that may seem terribly naive. But is it? Come to think about it, there may be more truth to it than we can possibly imagine.

Making Life Insurance Sales in Tougher Times
Source: Life Insurance Selling

 

Life Insurance and Your Client's Medical Records

Has your client ever read the medical records his doctor has on file about him or her? It is safe to say that most people have not. Most of us simply go to the doctor, take a few tests, nod our head a few times (whether the news be good, bad or indifferent), and then we go back to work or to our golf game.

Life Insurance and Your Client's Medical Records
Source: Producers Web

Thursday, July 17, 2008

 

Whole Life: A Balance Between Legacy and Lifestyle

In short, whole life insurance best achieves the delicate balance between legacy and lifestyle. Whole life is one of the most common types of permanent life insurance on the market today. It provides a holistic layer of financial security because of its unique combination of asset accumulation and wealth preservation. It is the only product of its type to offer both living and death benefits – a valuable feature in today’s volatile economic climate and one exclusive to whole life.

Whole Life: A Balance Between Legacy and Lifestyle
Source: Life Insurance Selling

 

The Quickest Way to Start Selling Life Insurance

There are several exciting and dynamic life insurance selling systems available today that will help you close large life insurance sales. There's LEAP, the Missed Fortune, Infinite Banking and Circle of Wealth systems, along with the various college funding, equity management and mortgage early-payoff sales systems. All of these systems may be fine ways for you to learn how to sell life insurance -- once you are in front of a prospect. Regrettably, the vast majority of these systems are primarily just a sales system and not a real marketing or lead generation system. Yes, they'll give you one or two ways to generate leads -- like running ads in the newspaper, sending out postcards or buying leads -- however, the lead generation methods they use do not work for everyone throughout the country. And, they tend to be very expensive to implement. No matter how good their selling system is, if their lead generation method(s) don't put you in front of the right high-quality prospects -- every day -- the system is almost worthless.

The Quickest Way to Start Selling Life Insurance
Source: Producers Web

 

MetLife Launches Enhanced Variable Universal Life

MetLife announced the launch of its enhanced variable universal life policy, Equity Advantage Variable Universal Life, based on the 2001 Commissioners’ Standard Ordinary (CSO) Mortality Table. In addition to providing affordable life insurance coverage, the new product offers the potential for long-term cash value accumulation and income distribution through improved features and also provides policyholders with guaranteed life insurance protection options.

MetLife Launches Enhanced Variable Universal Life
Source: Yahoo! Finance

 

How Safe Is Your Money, And How to Protect It

The chances are your bank is not going to shut down overnight.

But if you're at all worried about this in the wake of IndyMac's collapse, there are easy ways to eliminate your exposure today.

How Safe Is Your Money, And How to Protect It
Source: CNN Money

Wednesday, July 16, 2008

 

The 21st Century Retiree Points, Clicks, and Lives

AXA Equitable Life Insurance Company today launched My Retirement Shop (www.MyRetirementShop.com), a first-of-its-kind retirement lifestyle website created by a financial services company. Applying a comprehensive, education-based approach to the proven vibrant lifestyle of the "At Retirement" generation, the site combines access to a plethora of resources and services specifically designed for people near or at retirement, with information and tools on how to use those resources. The announcement was made by Barbara Goodstein, Executive Vice President of AXA Equitable and the company's Chief Marketing Officer and Chief Innovation Officer.

The 21st Century Retiree Points, Clicks, and Lives
Source: Insurance News Net

 

Life, Health Insurers Hit By Mortgage-Backed Securities

Profits of the nation's life and health insurers plummeted $9.9 billion to a mere $542.6 million in the first quarter of 2008, a 95% decline from $10.4 billion in the same period a year ago.

Life, Health Insurers Hit By Mortgage-Backed Securities
Source: TheStreet.com

 

Understanding the Importance of Financial Planning Begins with Teaching

How can your clients possibly attain financial security if they lack an understanding of how to plan? The sad news to report is that too many Americans don't know how to begin or haven't spent the necessary time to analyze their specific situations and to plan accordingly. A large percentage of people in this country are simply "living for the day," paycheck to paycheck, without a care in the world and lacking an eye into what their financial futures may hold. We all know the story: People today would much rather plan their summer vacation than plan for their retirement.

Understanding the Importance of Financial Planning Begins with Teaching
Source: Producers Web

Tuesday, July 15, 2008

 

Retirement vs Secondment

As more than 76 million baby boomers, that's more than one-quarter of the US population, enter their 50's and 60's they are confronting the "r" word ... retirement. But theirs is a generation of over-achievers; a generation that will not stop working altogether in the traditional sense -- nor will they necessarily want to keep working full-time, according to Joan Strewler-Carter and Stephen Carter, co-founders of the Life Options Institute, an organization dedicated to helping people plan for life after age 50.

Retirement vs Secondment
Source: PR Newswire

 

ING and Everest Offer Group Life with Funeral Planning Resources

ING Employee Benefits and Everest, the nation's first funeral planning and concierge service, announced today they will implement a new marketing agreement to offer a comprehensive employee life insurance option that eases the emotional hardships arising from end-of-life issues.

ING and Everest Offer Group Life with Funeral Planning Resources
Source: CNN Money

 

National Life Group Enters Section 79 Market with New IUL Product

Life Insurance Company of the Southwest (LSW), a member of National Life Group, announces the introduction of SecurePlus Advantage 79, an indexed universal life product positioned specifically for the Section 79 market. As only specially designed life insurance contracts produce favorable tax results under the Section 79 formula, there are very few contracts currently available in this marketplace.

National Life Group Enters Section 79 Market with New IUL Product
Source: Insurance News Net

Monday, July 14, 2008

 

Sevolution Campaign for Nationwide Lifetime Income Rider Awarded "Best in Show" from Insurance Marketing Communications Association

Nationwide Financial Services, Inc., won “Best in Show” for its Sevolution campaign in the category of Producer/Agent Marketing Sales Promotion at the 2008 Insurance Marketing Communications Association (IMCA) Showcase competition and awards gala, held in June.

Sevolution Campaign for Nationwide Lifetime Income Rider Awarded "Best in Show" from Insurance Marketing Communications Association
Source: Yahoo! Finance

 

Navigating to Retirement Through a Rough Market: Poor Returns May Force You to Tweak Your Strategy

If you're nearing retirement, or you have been retired for only a few years, you may already have realized this: Rocky markets are rotten for recent retirees and those about to retire.

Navigating to Retirement Through a Rough Market: Poor Returns May Force You to Tweak Your Strategy
Source: Insurance News Net

 

New York Life Invites Consumers to Participate in 2008 Advertising Campaign

As part of its ongoing 2008 Selfless Gift advertising campaign, New York Life Insurance Company today announced the Blue Box Challenge, (www.newyorklife.com/blueboxchallenge), an online contest inviting visitors to create advertisements using New York Life’s blue box logos. Creators of 10 selected ads will receive a $100 donation to the charity of their choice and the ad will be featured prominently on New York Life’s Web site.

New York Life Invites Consumers to Participate in 2008 Advertising Campaign
Source: Business Wire

 

Ernst & Young Study Finds Most Middle Class Retirees Will Outlive Retirement Savings

Almost three out of five new middle-class retirees will outlive their financial assets if they attempt to maintain their pre-retirement standard of living, according to a new study conducted by Ernst & Young LLP on behalf of Americans for Secure Retirement.

Ernst & Young Study Finds Most Middle Class Retirees Will Outlive Retirement Savings
Source: Sun Herald

 

Columbus Life Introduces Enhanced SUL Products

Columbus Life Insurance Company (Columbus Life), a member of Western & Southern Financial Group(R), announces two new additions to their comprehensive universal life portfolio. Legacy G Survivorship Universal Life and Legacy Plus Survivorship Universal Life offer attractive solutions to estate planning, wealth transfer and charitable giving needs. Legacy G features lifetime death benefit guarantees on a level premium basis with enhanced flexibility. Legacy Plus provides protection plus the potential for excellent cash value accumulation sheltered from current taxation.

Columbus Life Introduces Enhanced SUL Products
Source: PR Newswire

Friday, July 11, 2008

 

6 Ways to Tell if You're Financially Ready to Retire

If you're suddenly obsessed with thoughts of quitting the rat race and playing golf all day, it's probably a good sign that you're mentally ready to retire. But are you financially ready? That moment may be tougher to pinpoint.

Here are some ways to tell if you are financially prepared to take the leap...

US News & World Report: 6 Ways to Tell if You're Financially Ready to Retire

Wednesday, July 09, 2008

 

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

North American application activity for individually underwritten life insurance was off slightly in June, down -0.9% year-over-year, according to the MIB Life Index(SM). Second quarter activity trailed that of Q2 2007 by -2.5%. Year-to-date (YTD) life insurance application activity has declined -1.9%, compared to the same period last year.

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

 

MSN Money Central Recommends LifeInsure.com to Save on Life Insurance

LifeInsure.com, one of the leaders in online life insurance, was recommended by MSN Money Central in a recent article as a money-saving reference to insurance. The topic on Wednesday at the Money Central Blog at MSN was "How to squeeze $500 out of your monthly budget."

MSN Money Central Recommends LifeInsure.com to Save on Life Insurance
Source: PRWeb.com

 

The Benefits of Holding Off on Social Security

The percentage of workers who claim Social Security when they reach age 62 is dropping, according to new research. Holding off could be a smart move for you as well.

The Benefits of Holding Off on Social Security
Source: Yahoo! Finance

 

Foundation for Retirement

What a difference a year makes. People entering retirement early last summer had a strong market to boost their nest eggs and cushion any anxiety over their life transition. On July 19, 2007, the Dow Jones Industrial Average hit a record high, closing above 14,000 for the first time. To the extent that the subprime crisis had even registered, most observers expected the damage to be contained within the housing sector.

Foundation for Retirement
Source: Financial-Planning.com

Tuesday, July 08, 2008

 

Fed-SEC Memo Vague on Sharing Oversight Power

The Federal Reserve Board and the Securities and Exchange Commission on Monday laid out how they will jointly supervise investment banks and large dealers, issuing a 10-page document that — at least initially — did little to clear up the confusion about their shared activities.

Fed-SEC Memo Vague on Sharing Oversight Power
Source: Financial-Planning.com

 

Tuition Program Launched by MassMutual

MassMutual Financial Group is holding an informational session on its free, $50,000 LifeBridge term life insurance program.

The program pays educational expenses for dependent children if the insured parent or legal guardian passes away during the 10-year term. The program is open to eligible working families with no cost to the families. MassMutual pays all premiums.

Tuition Program Launched by MassMutual
Source: Biz Journals

 

Lincoln Employer Markets Launches 401(k) Managed Accounts Option From Morningstar Associates

Morningstar, Inc., a leading provider of independent investment research, and Lincoln National Corporation today announced that Lincoln Employer Markets, a division of Lincoln Financial Group, has launched Morningstar® Retirement Manager(SM), including Morningstar Associates' 401(k) managed accounts service. This offering enhances Morningstar Associates' guidance service already available to the Lincoln Alliance® and Lincoln SmartFuture(SM) retirement programs by adding a discretionary account management service option called Managed by Morningstar.

Lincoln Employer Markets Launches 401(k) Managed Accounts Option From Morningstar Associates
Source: Yahoo! Finance

Monday, July 07, 2008

 

The Ongoing Battle for Insurance Regulatory Reform

Insurance regulation in the U.S. is at a crossroads. It is the last major sector of financial services regulated primarily at the state level. The state framework and its policies are becoming increasingly out of synch with the evolution of insurance markets nationally and internationally. Significant segments of the industry support some form of federal regulation to remove artificial state barriers that impede competition and undermine insurers’ efficiency.

The Ongoing Battle for Insurance Regulatory Reform
Source: U.S. Insurance News

 

New Funds Can Provide Payments in Retirement

Some consumers use annuities, which are contracts sold by insurance companies, and create an income stream at a later point in time, typically at retirement, to provide steady cash flow.

But there's a new kid in town called a managed-payout mutual fund, which is similar to annuities but definitely not the same.

New Funds Can Provide Payments in Retirement
Source: Insurance News Net

 

Hewitt: Many Not Saving Enough

Most individuals are not saving enough for retirement, because they are not compensating for rising medical costs, lengthening life spans, and the declining availability of pension and retiree medical benefits, according to a study released last week by Hewitt Associates Inc.

Hewitt: Many Not Saving Enough
Source: Financial-Planning.com

Thursday, July 03, 2008

 

Banks: Everything Must Go!

If it's not bolted down, you can bet that troubled financial firms are thinking of putting a price tag on it.

There has been plenty of talk lately about how the nation's largest banks and securities firms are looking to shed some of their assets.

Banks: Everything Must Go!
Source: CNN/Money

 

Future Flexibility

Universal life (UL) products with a no -lapse guarantee (NLG) have been available for more than a decade and have shown tremendous sales growth since the variable- life market corrected itself in 2000.

Since then, this product, available on an individual and survivorship basis, has become a market leader. When first developed, ULNLG was generally available as a rider attached to a regular current-assumption UL contract.

Future Flexibility
Source: Insurance News Net

 

Best's Review Recognizes 63 Insurers for Maintaining "A" or Higher Financial Strength Ratings for Decades

With the financial services industry facing difficult economic conditions, it's interesting to find out which companies have achieved "A" or higher A.M. Best Financial Strength Ratings for decades--some for a century. A.M. Best Co. has been issuing financial strength ratings--opinions on the ability of individual insurance companies to pay claims on the coverage they have underwritten--since 1906. July's cover story, "Standing the Test of Time," offers lists of the property/casualty and life/health insurers that have been rated "A" or higher for 75 years and 50 years.

Best's Review Recognizes 63 Insurers for Maintaining "A" or Higher Financial Strength Ratings for Decades
Source: Forbes/A.M. Best

 

U.S. Congress Likely to Make Estate-Tax Changes in 2009

Congress is likely to act in 2009 to head off a scheduled repeal of the estate tax, according to policymakers and lobbyists on all sides of the issue.

The expiration at the end of 2010 of tax cuts enacted during President Bush's first term already presents the next president and Congress with a fiscal mess to unravel.

U.S. Congress Likely to Make Estate-Tax Changes in 2009
Source: Nasdaq News

 

Prudential Buying Asset-Management Company Stake

Insurance and investment company Prudential Financial Inc. said Wednesday that it will buy a 40 percent stake in Brazil's GAP Asset Management.

Financial terms of the deal were not disclosed.

Prudential Buying Asset-Management Company Stake
Source: Yahoo! Finance

Wednesday, July 02, 2008

 

A Gamble on Life: A Hot-Selling Insurance Policy Promises High Investment Returns

Should you join the crowd? The definitive answer is . . . maybe, but then again, maybe not. These policies carry unusual risks. But for venturesome buyers, impatient with the low interest rates other types of policies pay, VULs shine like hope.

A Gamble on Life: A Hot-Selling Insurance Policy Promises High Investment Returns
Source: NewsWeek

 

Workers Not Saving Enough for Retirement

Four out of five workers aren't saving enough to maintain their lifestyle after retirement, with women being at a disadvantage because of their longer life spans and lower pay, according to a study released Tuesday.

Workers Not Saving Enough for Retirement
Source: Courant.com

 

MassMutual Call Center Wins Prestigious Service Awards for Second Consecutive Year

The Call Center Excellence Awards are dedicated to recognizing superior thinking, creativity and execution across the full spectrum of call center functions. Awards were presented in seven categories to honor the most innovative call center solutions and individuals of 2008. The competition included entrants from Fortune 100and Fortune 500 organizations that have made the call center a central platform of their success strategy.

MassMutual Call Center Wins Prestigious Service Awards for Second Consecutive Year
Source: PR Newswire

Tuesday, July 01, 2008

 

Jefferson Pilot Securities Corp. Changes Name to Lincoln Financial Securities Corp.

Jefferson Pilot Securities Corp., an independent broker-dealer affiliate of Lincoln Financial Group, today changed its name to Lincoln Financial Securities Corp. (LFS). Effective immediately, all materials will reflect the new name. Services offered by the broker-dealer to registered representatives and to clients will not change.

Jefferson Pilot Securities Corp. Changes Name to Lincoln Financial Securities Corp.
Source: PR Newswire

 

Goal for Retirement Saving Rises; Conventional Wisdom Changes As Prices Surge

With medical care and other costs soaring, the portion of their pre-retirement pay that Americans will need in retirement to keep the same standard of living is rising, financial planners say.

Goal for Retirement Saving Rises; Conventional Wisdom Changes As Prices Surge
Source: Insurance News Net

 

Getting Ready for a Surprise Retirement

The vast majority of baby boomers want or plan to work in some capacity as long as they can. Eighty-four percent of people between the ages of 51 and 70 expect to work after they formally retire, and nearly two thirds say they can't see themselves ever retiring completely, according to a survey by management consulting firm McKinsey Global Institute. The McKinsey analysis also indicated that 60 percent of boomers will need to work in order to maintain something like their current lifestyle.

Getting Ready for a Surprise Retirement
Source: Yahoo! Finance

 

IBM and NAVA Jumpstart Implementation of Annuity

NAVA, Inc., the Association for Insured Retirement Solutions, and IBM today announced the availability of the first Common Reference Architecture Model for NAVA's Straight-through Processing (STP) Standards Initiative. STP is an industry-backed initiative establishing an automated standardized process that streamlines the sale of annuities.

IBM and NAVA Jumpstart Implementation of Annuity
Source: StreetInsider.com

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