Results for "life insurance"

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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...

Commonwealth case against Ohio National should be arbitrated, court rules

April 8, 2019

A dispute between Commonwealth Financial Network and Ohio National Life Insurance Co. over the insurer's decision to end trail commissions on variable annuities will be decided in Finra arbitration. The venue was settled in a decision by a Massachusetts...

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...

ACLI comes off bench to support legislation requiring employers offer access to retirement plans

March 12, 2019

The American Council of Life Insurers announced Tuesday it would back legislation to require employers to establish retirement savings plans for their workers. Rep. Richard Neal, D-Mass., previously sponsored bills that would have required companies...

Insurers create pain points for advisers and clients

February 21, 2019

The insurance industry hasn't done itself any favors when it comes to earning the trust of financial advisers and their clients. Insurers have repeatedly frustrated these stakeholders by making business decisions that are seemingly contrary...

Ohio National extends variable annuity buyout offer

February 20, 2019

Ohio National Life Insurance Co. is extending by about a month a buyout offer it made on some of its variable annuity products. The insurer last year gave owners of ONcore variable annuities with a guaranteed minimum income benefit rider the...

Fixed annuity sales smash previous record

February 20, 2019

Annual sales of fixed annuities broke a record in 2018, as investors retreated from a volatile stock market and were lured by the larger payouts created by rising interest rates. Fixed annuity sales hit $132 billion last year, a 25% jump from...

It's not a stock … it's not a bond

February 15, 2019

The market and investors always follow external events, and at this point in time we're experiencing a roster of factors that run the gamut. The historic bull run is on a trajectory fueled by corporate tax reform, regulatory changes and trade...

Genworth diverts $327 million to shore up long-term-care insurance

February 6, 2019

Genworth Financial Inc., the largest long-term-care insurer by number of policyholders, diverted $327 million before taxes in the fourth quarter in order to shore up the reserves it uses to pay LTC insurance claims. The amount, which came to...

New York slaps MetLife with $19.75 million in penalties for heel-dragging

January 29, 2019

MetLife Insurance Company will pay a $19.75 million penalty for violating New York insurance law by failing to properly locate and pay benefits to thousands of insureds and beneficiaries in the state. As part of a consent order with the state's...

Great-West sells life insurance and annuity business for $1.2 billion

January 24, 2019

Great-West Life & Annuity Insurance Co. has agreed to sell the bulk of its individual life insurance and annuity business to Protective Life Insurance Co. for an estimated $1.2 billion, via a reinsurance transaction, according to a company announcement...

LPL reacts to Ohio National 'violation of trust' by renegotiating VA contracts

January 24, 2019

LPL Financial, the country's largest independent broker-dealer, has renegotiated its contracts with all of its variable annuity partners in the wake of Ohio National Financial Services Inc.'s surprise announcement that it would no longer pay...

It's about to get easier to do a 1035 exchange with annuities

January 8, 2019

Insurance companies aren't exactly known as pioneering when it comes to digital technology. Most are entrenched in paper-dominated transactions with consumers and their financial advisers. Annuity providers, however, are making a synchronized...

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