Results for "insurance"

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Minnesota charges financial planner with fraud costing investors $200,000

June 21, 2018

A Sauk Rapids, Minn., adviser has been charged with securities fraud, insurance fraud and theft in connection with fraudulent insurance and gold bullion transactions that cost investors more than $200,000. Lisa Marie Schurhammer, a former licensed...

MetLife, Brighthouse sued for $500 million over missing pensioners

June 20, 2018

MetLife Inc. and Brighthouse Financial Inc. have been sued for failing to pay at least $500 million in retirement benefits over the past 2½ decades to thousands of pension plan participants. In December, MetLife disclosed that it had failed...

Vanguard research reframes retiree health care as annual expense

June 19, 2018

Framing health care costs in retirement as an annual expense rather than a lifetime lump sum can help investors better understand total annual expenditures and plan accordingly during their retirement years, according to new research from Vanguard....

Trump administration will let small businesses offer cheaper health plans

June 19, 2018

The Trump administration wants to make it easier for small businesses to join together to offer cheaper health-insurance plans that would lack some of the protections required under Obamacare. The U.S. Labor Department said Tuesday that it plans...

Guaranteed retirement income campaign launched

June 14, 2018

A national retirement income crisis is brewing, but no one seems to be paying attention. In response, a coalition of 24 major insurers and asset management firms launched a public information campaign Thursday to educate consumers and financial...

Fixed annuity sales set for massive spike

June 7, 2018

Fixed-rate deferred annuities are poised for a huge jump in sales over the next two years, as rising interest rates and a potentially faltering equity market push consumer money into the products at near-record levels, according to Limra, an...

Medicare trust fund will be exhausted in 2026, three years earlier than expected

June 5, 2018

The main trust fund behind Medicare, the U.S. health-care program for the elderly and disabled, will be exhausted in 2026, three years earlier than was projected a year ago, the government said Tuesday. Medicare's Board of Trustees blamed the...

Death and taxes: A conversation we must have

May 30, 2018

With apologies for the dog-eared title, I had to follow up my last column about the importance of the wealth management ecosystem by calling out the importance of a really good human adviser. And there's no better place to start than with the...

Blackstone woos wealthy with tax-free hedge fund

May 29, 2018

Blackstone Group has an enticing pitch for the ultra wealthy: Invest in hedge funds and avoid paying taxes forever. The private-equity firm's Lombard International is leading the charge to promote exclusive insurance vehicles that can contain...

Insurers are selling off old annuity business — what advisers need to know

May 23, 2018

Insurance companies have been selling old blocks of annuity business at a rapid clip, and it's likely the quick pace of transactions will continue at least through this year and possibly beyond. This could ultimately be bad news for policyholders...

Indexed annuity sales rise in Q1 as DOL fiduciary rule stalls

May 22, 2018

Indexed annuities posted a double-digit increase in sales last quarter as the headwinds posed by the Labor Department's fiduciary rule dissipated. Broader economic developments, such as the market volatility during Q1 and rising interest rates,...

Envestnet details plan to add annuities to wealth management platform

May 18, 2018

Envestnet plans to add insurance to the ever expanding list of products and services it offers to financial advisers. First announced by president Bill Crager during his welcoming keynote at the Envestnet Advisor Summit on Wednesday, the company...

Mass Mutual to hike some LTC premiums by 77%

May 16, 2018

Some 54,000 holders of long-term care insurance policies issued by Mass Mutual Life Insurance face premium hikes of about 77%, according to a request the carrier has made to state regulators asking for the increase. The company has about 72,000...

Insurers becoming more stringent with long-term-care policies

May 11, 2018

Insurers are getting pickier about who qualifies for a long-term-care insurance policy — good news for the long-term health of an otherwise ailing industry, but potentially bad news for clients who find it harder to qualify for coverage. Companies...

Iowa insurance regulator cautions SEC about modifying suitability rule

May 10, 2018

A state insurance official on Thursday asserted that current investment-advice regulations for brokers are working and that modifying them under a proposal from the Securities and Exchange Commission could hamstring state regulators. Iowa Insurance...

FedEx shifts pension obligations by purchasing $6 billion group annuity

May 9, 2018

FedEx Corp. announced Tuesday that it has entered into an agreement to purchase a group annuity contract with Metropolitan Life Insurance Co. to transfer about $6 billion in U.S. pension plan obligations. The transaction, which is expected to...

Four challenges in using annuities for retirement planning — and how to overcome them

May 8, 2018

Over the years, I've had countless conversations with advisers about retirement planning and the use of guaranteed income products. While some embrace annuities and their ability to offer consistency in retirement income, others are more dismissive....

Finra fines Fifth Third Securities $4 million for variable-annuity violations

May 8, 2018

The Financial Industry Regulatory Authority Inc. has fined Fifth Third Securities $4 million and ordered it to pay approximately $2 million in restitution to customers for "failing to appropriately consider and accurately describe the costs...

Recent rule changes to boost retiree health costs

April 30, 2018

Individually, recent updates to Medicare and Social Security rules may not have seemed like a big deal. But when taken together, seven changes to Medicare means testing, Social Security cost-of-living adjustments (COLAs) and Social Security...

Job satisfaction tied to benefits satisfaction, survey finds

April 27, 2018

The happier employees are with their benefits, the happier and more satisfied they are overall, according to an analysis of survey data by the Employee Benefit Research Institute. The data, from EBRI's 2017 Health and Workplace Benefits Survey,...

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