Results for "annuities"

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TIAA subpoenaed over sales practices

November 10, 2017

The New York attorney general has subpoenaed insurance and pension giant TIAA, seeking information on its sales practices in the wake of a recent story in the New York Times. The TIAA practices drawing scrutiny also are the subject of a whistleblower...

DOL fiduciary rule delay boosts prospects for annuity sales

October 12, 2017

A proposed delay to the Department of Labor's fiduciary rule is leading to big increases in annuity sales projections next year. The regulation, which raises investment-advice standards in retirement accounts, was expected to put a severe dent...

Finra cracks down on faulty variable annuity exchanges

October 10, 2017

Finra is continuing its crackdown on variable annuity misconduct this year, following a blistering year of fines related to VA sales in 2016. Two recent enforcement actions from the Financial Industry Regulatory Authority Inc. demonstrate the...

DOL fiduciary rule has enforcement gaps — and they could widen

September 11, 2017

The Department of Labor's fiduciary rule, as it's currently written, has some enforcement gaps. And they could widen, especially for annuity products, depending on how the Trump administration's review of the rule shakes out. The primary enforcement...

MetLife cutting annuity pay to some of its former advisers

September 5, 2017

MetLife Inc. is cutting compensation on annuities sold by former advisers who moved to other broker-dealers after MetLife sold its Premier Client Group last year to Massachusetts Mutual Life Insurance Co. And the cut in pay is drastic. According...

Trump administration seeks to give boost to 401(k) annuities

October 31, 2017

The Trump administration wants to give a shot in the arm to annuities in 401(k) plans by encouraging rules to make it more palatable for plan sponsors to offer such products. The Treasury Department issued a report calling for the Labor Department...

How to pay for long-term care? Several funding options exist

October 9, 2017

Roughly half of Americans turning 65 today will require long-term care. As life expectancy continues to rise and the cost of care creeps up, there's a growing need for financial advisers to be knowledgeable about long-term-care funding mechanisms...

Department of Labor's fiduciary rule blamed for insurers' massive hit on variable annuity sales

March 28, 2017

The variable annuity industry took a beating in 2016, with several of the top sellers inking losses upwards of 25% on the year and some exceeding 40%. The Department of Labor's fiduciary rule, issued in its final form last spring, played a big...

DOL fiduciary rule driving fundamental shift in variable annuity market

August 24, 2017

The Department of Labor's fiduciary rule is shaking things up in the variable annuity market. While the regulation has accelerated the downward trend in overall variable annuity sales for the past several quarters, only recently has the rule's...

Tontines could be making a comeback, providing alternative for retirement income

March 27, 2017

An investment vehicle popular in the Victorian Age but plagued by scandals early in the last century may be coming back. The vehicle is the tontine, a type of investment pool from which members draw annual dividend payments after paying a lump...

DOL fiduciary rule pushes indexed annuity carriers to develop new products

May 25, 2017

Insurance companies, especially those that are indexed-annuity-centric, have been launching annuity products within the past several months in anticipation of the Department of Labor's fiduciary rule, which is expected to cause a big disruption...

DOL fiduciary rule: Indexed, variable annuities big winners of a proposed delay

August 10, 2017

Indexed and variable annuities are the biggest winners of the Department of Labor's recently telegraphed fiduciary rule delay. Sales of the products, especially indexed annuities, would arguably have been the most adversely impacted under the...

Voya re-entering buffer annuity market as product popularity grows

May 26, 2017

Voya Financial is hoping to capitalize on the recent popularity of buffer annuities by launching a product around the end of this year or early next, after having exited the market less than two years ago, and joining a small group of insurers...

Indexed, variable annuity sales slump as DOL fiduciary rule looms

May 18, 2017

Annual sales of indexed and variable annuities took another nosedive in the first quarter with the Department of Labor's fiduciary rule set to come into force. Despite a stronger equities market and interest-rate environment, the fiduciary-rule...

Finra hits Valic Financial Advisors with $1.75M fine for creating compensation conflicts

November 28, 2016

Citing a number of conflicts of interest having to do with the way it compensated brokers selling annuities, the Financial Industry Regulatory Authority Inc. on Monday said it had fined Valic Financial Advisors Inc. $1.75 million. “Finra found...

Despite misleading ads, annuities can be critical for lifetime income planning

August 23, 2017

If you're in the annuity industry, a client has probably walked into your office with preconceived notions about annuities for retirement planning, partly due to some critics' opinions on annuities that may not consider the needs of everyone....

State insurance commissioners consider strengthening annuity sales rules

April 12, 2017

State insurance regulators are considering strengthening investor protections surrounding sales of annuity products. The National Association of Insurance Commissioners launched an annuity suitability working group April 8 at the organization's...

The leading variable annuities with living benefits

February 22, 2015

Carrier Benefit 65 Year old with a 10 year waiting period (first withdrawal at age 75) Roll-Up info Step-up info Applicable Withdrawal Percentage Annual Withdrawal Amount Current Fee Amount Fixed % Increase Simple/ Compound Highest Anniv. Value...

Conditions fertile for annuities if industry can connect with investors

February 1, 2017

Most investors want guaranteed, pension-like income yet are reluctant to buy an investment that can provide it: an annuity. That reluctance, the so-called annuity puzzle, may be closer to being resolved as a combination of factors — fewer...

Why indexed annuities eventually could outsell the variable variety

February 21, 2016

Toward the end of January, the Raymond James fixed and indexed annuity team met with one of our insurance partners to discuss possible future product designs and the indexed annuity market overall. I opined at the time that it would not surprise...

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