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<b>Special report:</b> Variable annuities
To make their variable annuities more attractive, insurers revved up living-benefit features last year. This year, some top VA sellers are hitting the brakes and trimming benefits.
Hard to understand
Summary prospectuses for variable annuities are supposed to help consumers make informed decisions about buying these complicated investments
Pru aims to pare benefits on popular annuity
Insurer looks to roll back payout, withdrawal percentages on Highest Daily Lifetime 6 Plus product; puny interest rates to blame?
Abandoning LTC, MetLife sparks worries
MetLife Inc.'s announcement last week that it will stop writing new long-term-care insurance shocked advisers, raising fears that rates will rise for existing blocks of business and that other carriers will exit the industry.
Jumbo LTC rate hike for Hancock not likely, say analysts
State insurance regulators are not likely to approve John Hancock's recently announced long-term-care rate hikes, denting third-quarter profits for the insurer's parent company, Manulife Financial Corp., according to analysts.
Hancock’s LTC rate hike puts advisers in tough spot
Average premium for existing policyholders could go up by 40%; 'lot of explaining' to do
LTC costs rising, but at slower clip than pre-crisis
The costs of long-term-care continue to rise, although at a slower pace than before the economic slowdown as nursing homes and home health care providers reduce charges.
Life Partners’ pitch change is a curveball for investors, attorneys say
Settlement provider lowers advertised rate of return from 12% to 7%; litigation ahead?
New York Life, MassMutual sued over Madoff investments
A machinery manufacturer last week sued New York Life Insurance Co., claiming it had lost money in variable universal life policies that were invested in funds linked to the Madoff scandal. Experts say similar suits are likely to follow.
Insurer spreads fiduciary umbrella to keep small plans
New York Life Insurance Co. has kicked off a program that will allow agents to meet the tougher fiduciary requirements set by the Labor Department
Indexed annuities ‘terrible ideas’ for seniors, says Wharton prof
High hidden fees, long surrender periods just some of the pitfalls, argues ex-Treasury official Smetters; insurers, agents beg to differ
Manulife paying price for lack of hedging
Manulife Financial Corp.'s pre-crisis decision to scrimp on hedging for its variable annuities book appears to be coming back to haunt the Canadian company.
AIG prepares succession plan
American International Group Inc. is at a point in its recovery where the insurer's next chief executive will be able to focus on running day-to-day operations rather than crisis management, observers said.
Life Partners’ pitch change is a curveball for investors
Life Partners Holdings Inc.’s decision to reduce the rate of return it advertises for segments of its life…
Institutions renew interest in life settlements
Notwithstanding a recent crackdown by the SEC, the market for life settlements — which froze during the credit crisis — is beginning to warm up
Embattled Life Partners sued by shareholders
Claim life settlement provider harmed investors by using flawed actuarial statistics
Death benefits ruling may make life tough for advisers
A recent ruling by New York’s top court regarding life settlements may be good news for hedge funds,…
Prudential is new No. 1 seller of annuities
Prudential Financial Inc. has taken the crown as the biggest seller of variable annuities and overall individual annuities in the U.S. through the first half of this year, according to data released today by LIMRA.
AIG memo: ‘Complete government exit’ in the works
Insurer aiming to regain independence; market conditions the wild card
QA3 facing bankruptcy in insurance squeeze
QA3 Financial Corp. faces bankruptcy because of a dispute with its insurance carrier over the amount of coverage…
