Results for "annuities"

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Fixed-annuity sales fuel overall growth

September 4, 2008

Overall individual-annuity sales grew 4% during the second quarter, buoyed by a spike in fixed-annuity sales, according to Limra International Inc. U.S. individual-annuity sales grew to $68.4 billion during the second quarter, up from $65.7...

Hybrids will drive retirement income

August 18, 2008

Products that combine equity exposure, income generation and volatility protection may grow more popular among advisers, according to a retirement product executive. "Advisers are looking more at packaged solutions that meet client needs," said...

Variable's loss is fixed's gain

August 11, 2008

Because of slumping second-quarter sales of variable annuities, industry observers believe fixed annuities could benefit. "In our last set of data, we were seeing an explosion on the fixed side — more than we have ever seen before," said Jeremy...

Settlement reached in ‘living trust mill’ suit

July 21, 2008

American Equity Investment Life Insurance Co. of Des Moines, Iowa, has settled a class action in a Kentucky state court over abusive annuity sales. This $16.4 million settlement will provide relief to as many as 24,000 people who bought the...

State insurance regulators are angry about EIA proposal

July 14, 2008

State insurance regulators are displeased with the Securities and Exchange Commission and state securities regulators about a proposal that would regulate equity index annuities as securities rather than as insurance products, and one state...

Agents express concern about higher costs and loss of control over production

July 14, 2008

Insurance agents who work primarily with equity index annuities say the Securities and Exchange Commission's proposal to regulate the products as securities would impose greater costs on their firms and hand over control of their production...

Mutual funds face competition from ETFs, VAs and others

June 30, 2008

The combined total launches last year of exchange traded funds, variable annuities and closed-end funds surpassed open-end mutual fund launches for the first time, according to Boston-based research firm Cerulli Associates Inc. Of the 820 fund...

Subprime exposure afflicts Security Benefit Life Insurance

June 30, 2008

Analysts concerned about Security Benefit Life Insurance Co.'s investments in subprime-mortgage-backed securities have cut the firm's financial ratings and are keeping a careful eye on the Topeka, Kan., carrier. "This company has the highest...

SEC OKs proposed annuity rule

June 25, 2008

Equity index annuities could be regulated as securities if a proposal approved 3-0 today by the Securities and Exchange Commission is finalized. Such annuities — insurance contracts under which payments to the purchaser are dependent on the...

Market conditions right for fixed annuities

June 23, 2008

Market turmoil and rising interest rates might kick off a new season for the fixed annuity as the product emerges from the shadow of its variable cousin, an industry expert said. "If you look analytically at market conditions, you find the variable...

Annuities winning a place in target date strategies

June 23, 2008

Embedding annuities into target date funds might be the key to offering annuities as an investment option in 401(k) plans. Despite mounting interest in retirement income products, 401(k) plan executives have been slow to offer annuities as a...

NAIC soon to consider working group on annuity disclosure

June 16, 2008

Supporters of simplified disclosures for variable annuities may get a boost from a proposal that state insurance regulators will soon consider. The National Association of Insurance Commissioner's life insurance and annuities committee is in...

Brokers, insurers juggle hot potato of VA suitability

June 9, 2008

Both brokers and insurers bear responsibility for the suitability of variable annuity sales, but at different points in the sales process, industry officials said at a conference last week. "Who really should own suitability? On the one hand,...

Regulation, courts still transforming insurance products

June 9, 2008

A combination of regulatory developments and court cases since 1998 has molded annuities and insurance products into what they are today — and that development continues. From the Pension Protection Act to the Financial Industry Regulatory...

Life insurance seen moving toward federal charter

June 9, 2008

An optional federal charter and a tax environment that favors annuities are in the cards through the next 10 years for the life insurance industry. "With the population aging, you'll have more efforts from the regulatory standpoint for enhanced...

Age not automatic criterium for class actions

June 3, 2008

Plaintiff’s attorneys are going to have a tougher time seeking class action status for cases alleging the improper sale of an annuity — especially if older individuals are involved, defense lawyers said at the NAVA 2008 Compliance and Regulatory...

Brokers face insurance kickback investigation

June 2, 2008

A group of single-premium annuity pension plan brokers who allegedly took kickbacks from insurance carriers is under investigation by the state of Connecticut and may face steep penalties, according to Attorney General Richard Blumenthal. The...

New annuity-wrapped managed account sparks interest, confusion

June 2, 2008

The first income guarantee wrap-per around a managed-account portfolio hasn't even been sold yet, but its mere existence has sparked growing interest in retirement income products within the managed-accounts industry. Since the March launch...

Retirement income products just can't get adviser love

June 2, 2008

Like Goldilocks, financial advisers can't seem to find many new retirement income products that are "just right." They complain that manufacturers' creations are too complex, too costly and too inflexible. Manufacturers acknowledge the advisers'...

Insurance carriers gear up for VA product season

May 12, 2008

As the weather heats up in May, so does the competition among insurance carriers that are releasing new features for their variable annuities. Offerings this season include enhanced riders as well as glitzy subaccount choices, or the investments...

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