Results for "annuities"

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More states may clamp down on improper asset transfers

December 17, 2007

Elder-law attorneys are concerned that the new year will bring new rules in a number of states regarding how — and if — immediate annuities can work with Medicaid eligibility and planning. Brokers and advisers who are unaware of these rules...

Raymond James researches VA riders

December 3, 2007

Raymond James Financial Inc. of St. Petersburg, Fla., last month rolled out a series of research reports on variable annuity riders designed to help its reps sort through the confusing array of products. The firm believes it is the first broker-dealer...

Fixed-income annuities gain clout among advisers

December 3, 2007

More advisers are turning toward fixed-income annuities as a new asset when they create retirement plans for their baby boomer clients. "With the dearth of defined benefit plans, lifetime income has become an asset class unto itself," said Joe...

Lockwood plans a UMA with an income guarantee

December 3, 2007

An insurance policy that provides an income guarantee to holders of a unified managed account at Lockwood is in registration at the Securities and Exchange Commission. Known as a Guaranteed Retirement Income Solution, the insurance policy is...

Mutual fund/insurance hybrid on the horizon

November 26, 2007

As early as next year, retirees may see a new hybrid investment product that blends mutual funds with insurance guarantees, possibly signifying an alliance between the two industries. "[Asset managers and insurance companies] are trying to provide...

Is disinterest in retirement products problematic?

November 26, 2007

Financial advisers lack interest in new retirement income products, with many reporting that the products are too complicated and costly, according to observers. "Skepticism is healthy, but advisers may be missing the boat on the subject. They...

Birthday gift annuities relieve worries

November 19, 2007

Children don't always grow up to be the responsible types we hope for. My client Anne is divorced, with a traditional individual retirement account valued at $1 million. She loves her adult children, but she worries about leaving them money...

National Financial grows annuity platform

November 15, 2007

National Financial Services LLC of Boston, a Fidelity Investments company, announced today that seven additional insurance carrier have joined the company’s annuity program for broker-dealers. The company’s web-based annuity program allows...

B-Ds brace for new rule on sales of deferred VAs

November 5, 2007

A new rule governing broker-dealers' sales of deferred variable annuities is about to drop, and the firms are arming themselves to face it — but not without a little grumbling. The Financial Industry Regulatory Authority Inc.'s Rule 2821,...

Vendors of equity index annuities look to education

November 5, 2007

While many financial advisers continue to criticize and shun equity index annuities, insurance companies that sell the product are trying to improve its tarnished image by focusing on education. "A few firms walked away from it, but this product...

Hancock offers 8% withdrawal guarantee on annuities

October 29, 2007

John Hancock Annuities is making a run for old and young retirees with a new annuity rider. The Boston-based firm, a unit of Manulife Financial Corp. of Toronto, is offering an 8% guaranteed-withdrawal-benefit rider on its annuities, expecting...

Phoenix, Jefferson agree to focus on fee-based advisers

October 22, 2007

The Phoenix Cos. Inc. has formed an alliance with Jefferson National Life Insurance Co. in which Phoenix will use the Jefferson technology platform to offer no-load variable annuities to fee-based advisers at wirehouses and regional broker-dealers....

Advisers, providers remain skeptical on ETF-based annuities

October 8, 2007

More than two years after the launch of the first variable annuity based on exchange traded funds, VA providers and financial advisers are still ap-proaching the product with caution. As separate products, ETFs and variable annuities are increasingly...

Jackson National unveils annuity

September 25, 2007

Jackson National Life Insurance Co. today released Jackson AscenderPlus Select, a new fixed index annuity. This product provides investors with a guaranteed minimum interest rate, plus a guaranteed minimum death benefit. By linking to either...

Individual annuity sales hit record highs

September 11, 2007

Individual annuity sales increased 6% in the second quarter to a record of $66.5 billion over the same period in 2006, according to LIMRA International Inc. Sales of annuities for the first half of the year were up 3% over the first half of...

Use of income annuities in retirement gets a plug

August 27, 2007

CHICAGO — While income annuities are the most cost-effective way to provide income at retirement, investors are reluctant to purchase them, according to a new study. Consumers aren’t annuitizing enough of their portfolios, according to the...

Annuity marketers invade video websites

August 6, 2007

NEW YORK — Middle-aged men in wigs performing a rap song, promises of a “Leadzilla” lead-generation system, and claims of millions of dollars in annual commissions — is this any way to market annuities? On, and other...

Suitability czar plan raises questions

July 23, 2007

NEW YORK — Is the creation of a top-level suitability monitoring job by Allianz Life Insurance Company of North America a step forward in annuity marketing or a defensive position in response to a battery of lawsuits? That is a question many...

EIA suits’ separate fates show specificity is key

July 16, 2007

NEW YORK — Two legal decisions this month related to equity index annuities make clear that plaintiffs must attack specific annuity provisions or standardized marketing materials in order to show the “commonality” needed for class action...

VAs trail funds in sales growth at the banks

June 25, 2007

NEW YORK — Bank sales of variable annuities that invest in mutual funds continue to grow but are outpaced consistently by those of mutual funds. That’s a function of periodic adverse publicity combined with compliance hassles, observers say....

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