Results for "annuities"

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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...

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'...

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...

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...

AXA Equitable jumps into retirement annuities market

April 28, 2008

Retirees are increasingly worried that they will live too long and their savings will run out, and financial services companies are noticing. AXA Equitable Life Insurance Co. is the latest vendor to offer a financial product aimed at retirees...

Barclays chooses MetLife as annuity provider

March 28, 2008

Barclays Global Investors has selected MetLife as the income annuity provider in its SponsorMatch 401(k) program. MetLife is bringing in its deferred income annuity as an asset allocation option in a defined contribution plan. Launched last...

Pershing makes annuities available to B-Ds

March 25, 2008

Pershing LLC today made annuities available to its introducing broker-dealer customers through the Subscribe annuity platform. These annuities are from Principal Financial Group, Symetra Life Insurance Co., and companies that are affiliated...

Retirement Income: Advisers still poke holes in retirement income products

March 24, 2008

Even as the financial services industry scurries to provide advisers with better retirement income vehicles, advisers continue to criticize the new products. Insurance companies were first to the table, offering annuities with guarantees, but...

Insurance industry expects a tax hike but not this year

March 3, 2008

Although 2008 probably won't be a year for any significant tax changes, the insurance industry is preparing for 2009 and 2010, when tax increases appear likely. "Every new president puts a major tax bill through Congress," said Joseph McKeever...

Insurers are touting no-load, low-cost VAs

March 3, 2008

Registered investment advisers just might be the next big ticket for the insurance industry. That is what carriers are betting on as they craft new variable annuity products for a fee-only philosophy. "The issue with the variable annuity has...

Annuitization can be a boon, say experts

February 26, 2008

There is value to annuitization through a single premium immediate annuity, but it’s simply a matter of communicating that point to advisers, according to a panel of insurance industry experts. Historically, advisers have been concerned about...

Carriers work on simplifying VAs

February 25, 2008

Aware of the appeal of variable annuity riders, carriers plan to strengthen their offerings while attempting to meet financial advisers' calls for simplicity. "Advisers want simplicity so the company that can introduce features, and show why...

Technology solutions taking aim

February 25, 2008

While industry experts and broker-dealers are working to simplify variable annuity processing and cut down on paperwork electronically, software vendors are trying to help advisers easily compare products to comply with suitability requirements....

VA firms step up wholesaler training

February 25, 2008

Insurers are stepping up their wholesaler education efforts to help advisers prepare for tougher suitability rules involving the sale of variable annuities. Finra's Rule 2821, which becomes effective May 5, requires principals of advisory firms...

Sean Dilweg

February 25, 2008

As Wisconsin's insurance commissioner and vice chairman of the Life Insurance and Annuities (A) Committee of the Kansas City, Mo.-based National Association of Insurance Commissioners, Sean Dilweg is focusing on suitability, wholesaler training...

Wachovia tops in annuity-sales commissions

February 20, 2008

Wachovia Corp. earned the most commissions from annuity sales last year, beating other bank holding companies for the title, according to Singer’s Annuity and Funds Report. The Charlotte-based bank collected $483 million in annuity fees, or...

Plains state aims for plain English

February 18, 2008

Iowa will be the first state to join an initiative to provide customers with plain-English disclosure on fixed and indexed annuities. In an initiative backed by the state's insurance division, the American Council of Life Insurers in Washington...

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