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GAO’s financial advice: Hold off on Social Security, buy an annuity
A new study by the Government Accountability Office predicts that middle-class workers may well outlive retirement savings. The solution, the GAO says, is for workers to hold off on taking Social Security -- and buy annuities.
Guidance imminent on 401(k) income products
The Treasury Department will soon offer guidance on lifetime income options in 401(k) plans with the aim of curbing the number of individuals who are likely to outlive their retirement savings.
American Beacon books power trio to subadvise go-anywhere offering
Pimco, Brandywine and GAM will co-manage firm's new flexible bond fund
Financial advisers, insurers hail GAO plug for immediate annuities
Although encouraged by the results of a recent Government Accountability Office study that effectively endorses immediate annuities as…
ING cementing broker-dealer relationships amid push for new fixed indexed annuity feature
ING is making another go at the independent broker-dealer market, this time with a new fixed indexed annuity feature scheduled for an August release.
Illinois securities cops revoke licenses of reps for annuity sales
State regulator says husband-and-wife team recommended that elderly clients partially surrender VAs for indexed annuities; $426K in commissions in less than four months
Surprise! Fee-based VAs gaining traction — at least among B-Ds
Commonwealth and five broker-dealers sign on to sell Allianz's variable annuity; apes LPL Financial's earlier move
California insurance czar probes 10 insurers over lapsed policies
A slate of major life insurers — the 10 largest doing business in California — are under investigation for the way they handle dormant life insurance policies
Return to big brokerage platforms revives SunAmerica
SunAmerica Annuity and Life Assurance Co. is back in the fight in variable annuity sales after being dropped from or ignored on platforms for the past few years
Health savings account balances rise in June
Balances in HSAs — tax-advantaged medical savings accounts — grew to some $11.7 billion in total assets, reflecting a 31% increase over last year.
Some states rubber-stamping insurance rate hike requests, U.S. says
The U.S. will review health insurer requests to raise premiums for individuals and small businesses at least 10% in 10 states, ruling that local regulators aren't adequately policing rates.
VA customers don’t read prospectuses — and at 200 pages, who can blame them?
A new report finds that VA customers don't read prospectuses — and with the some of the documents running upwards of 200 pages, it's easy to understand why.
Finra to revamp market examination process for broker-dealers
Finra will take a data-centric approach to performing market exams, pulling reams of information from broker-dealers, insurance companies and clearing firms.
Jackson National seen ‘tapping’ — not slamming — brakes in latest VA deceleration
Closing of funds to investors suggests carrier's plan to slow variable annuity sales will be less aggressive than first thought; 'quite modest'
B-Ds ought to review standards of conduct, supervisory procedures for VA sales: Finra lawyer
Finra's variable annuity suitability rule should be old news to broker-dealers, but firms that want to steer clear of an arbitration land mine ought to review their procedures.
Jackson pares funds to curb VA liability
In an attempt to dial back risk, Jackson National Life Insurance Co. will limit the availability of four…
Advisers prepare for end of Jackson variable annuity bonanza
News that Jackson National Life Insurance Co. will curtail sales of its popular variable annuity products — likely by limiting investments — has financial advisers on the lookout for the next best thing and its competitors waiting with open arms for an expected uptick in sales
Jackson National’s VA sales will be dialed back by parent
Variable annuity sales at Jackson National Life Insurance have been surging -- so much so that parent company, Britain's Prudential, has deciced to dial back on the product. Yes, you read that right.
QA3 tangles with insurer over private-placement coverage
QA3 Financial Corp., an independent broker-dealer that was a leading seller of high-risk private placements over the last decade, in a recent lawsuit said its insurance carrier was pushing it into bankruptcy by failing to back up its coverage.
N.Y. Life shows its pride
In time for Gay Pride Month, New York Life Insurance Co. has launched a LGBT channel on its website to address financial and estate-planning needs unique to the lesbian, gay, bisexual and transgender community
