Results for "life insurance"

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Warning about insurance reserves at GE is relevant to all U.S. life insurers

August 16, 2019

Harry Markopolos shocked General Electric Co. investors Thursday when he accused the industrial giant of needing $29 billion more in funds for its insurance business. While GE disputed the charges, his analysis underscored how sweeping accounting...

SEC draws ire with indexed annuity misstep

August 16, 2019

The Securities and Exchange Commission caused concern among the financial advice and insurance communities this week when it published an inaccurate investor bulletin about indexed annuities. The communiqué, issued Tuesday by the SEC's Office...

Insurers pivot amid declining interest rates

August 15, 2019

Interest rates have done an about-face, and insurers are feeling the pinch. Just less than a year ago, insurance companies, financial advisers and their clients were celebrating the return of higher interest rates. More money flowed into insurers'...

New York best interest rule for annuity, life insurance sales upheld by state court

August 5, 2019

The New York State Supreme court upheld a state regulation imposing a tougher standard on agents and brokers selling annuity and life insurance policies, on the eve of the rule taking effect. Acting Supreme Court justice Henry F. Zwack said...

MAI acquires insurance-oriented RIA

July 1, 2019

MAI Capital Management, a Cleveland-based RIA managing $5.4 billion, has acquired John D. Dovich & Associates, a Cincinnati-based RIA managing $600 million that specializes in insurance. The acquisition gives MAI a location in Cincinnati and...

Insurers bend rule on indexed universal life with new policy features

June 27, 2019

Insurers appear to be sidestepping a recent rule meant to tamp down on overly rosy projections of returns in indexed universal life insurance policies via new product features, an alarming trend that may deceive or confuse would-be buyers, advisers...

TIAA exits the life insurance business

June 26, 2019

TIAA, one of the largest U.S. life insurers, is exiting the life insurance business, ceasing the manufacture and distribution of its products by the end of the year. The firm's annuity business will continue and be unaffected by the change,...

Some insurance agents breaking law with 401(k) rollovers

May 30, 2019

Rolling money out of a 401(k) plan to fund an insurance product, like an annuity or life insurance policy, can be a difficult, tense decision for retirees. After all, seniors are earmarking a large chunk of their nest egg. These rollovers are...

LTC insurer offering co-pays to blunt soaring premium increases

May 16, 2019

In an effort to blunt soaring premium increases on its long-term-care insurance policyholders, one insurer is offering policyholders a discount if they agree to a co-pay on claims. John Hancock Life Insurance Co. is trying the new approach....

States approving bigger rate increases for long-term care policies

May 7, 2019

States have given insurers the go-ahead to charge their customers much more money for long-term care insurance premiums in recent years, insurance company executives say, which has been a boon to the underwriters but is likely unwelcome news...

Elderly investors win $3.2 million Finra arbitration award against AXA Advisors

May 1, 2019

An elderly couple in upstate New York won a $3.2 million Finra arbitration award against AXA Advisors in a case involving unsuitable variable annuity and life insurance sales. James and Sandra Fitzpatrick alleged that their then-AXA representative,...

Insurance lobby plans blitz to get retirement bills through Congress quickly

April 24, 2019

Insurance trade associations are set to launch a campaign to gain approval for retirement-savings bills by August to ensure they don't stall again as attention turns to the 2020 election. The American Council of Life Insurers is coordinating...

The drawback of Richard Thaler's 401(k)-Social Security idea? Social Security itself

April 22, 2019

Nobel laureate Richard Thaler's idea to increase retirees' Social Security payments by using a portion of their 401(k) accounts is drawing criticism from some corners of the financial-advice industry, primarily due to the current less-than-stellar...

Finra fines former LPL rep $5,000 over viatical sale

April 5, 2019

The Financial Industry Regulatory Authority Inc. has fined Scott Klor, a former registered representative who had been affiliated with LPL Financial, $5,000 and suspended him for 14 months for his involvement in a lie insurance scheme not disclosed...

Indexed annuity sales projected to grow nearly 40% by 2023

April 5, 2019

Indexed annuities, fresh off a record sales year, are poised for substantial growth over the next four years, according to projections from Limra, an insurance industry group that expects the stock market to remain volatile and interest rates...

New annuities starting to address RMDs

April 1, 2019

Allianz Life Insurance Co. of North America is launching an indexed annuity geared toward clients 70½ and older who don't need the money that the government requires they withdraw each year from retirement accounts in the form of required minimum...

Jackson National loses top annuity sales spot to AIG

March 26, 2019

Jackson National Life Insurance Co. ceded its six-year reign atop the annuity sales leaderboard to American International Group Inc. last year, as AIG rode a wave of strong fixed and indexed annuity sales to overtake the former No. 1. AIG sold...

Ameriprise offloads $1.7 billion in fixed annuities

March 20, 2019

Ameriprise Financial Inc. has offloaded $1.7 billion in fixed-annuity liabilities to Global Atlantic Financial Group, representing roughly 20% of the company's fixed-annuity account balances, the firm announced Tuesday. Commonwealth Annuity...

Indexed universal life insurance sales continue hot streak

March 15, 2019

Insurers sold indexed universal life insurance policies at record levels last year as consumers sought a measure of protection from stock market volatility and more insurers offered product. Indexed life insurance sales of $2.1 billion last...

Genworth move could signal big shift in distribution of long-term-care insurance

March 14, 2019

Genworth Financial Inc.'s recent decision to halt sales of individual long-term-care insurance policies through brokers and agents and just go directly to consumers could represent an emerging trend among insurers. Genworth, the largest long-term-care...

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