Results for "variable annuities"

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Deflation is in the air, Putnam investment chief says

October 12, 2008

Inflation is no longer the nation's chief economic problem; it is deflation, according to Jeffrey L. Knight, deputy head of investments and chief investment officer at Putnam Investments of Boston. "We have to stick with the current evidence...

AIG's cash crisis stokes fear among advisers

September 22, 2008

Financial advisers could soon find themselves paying more for AIG's variable annuities. American International Group Inc.'s cash crisis, which rattled the global financial system last week, will likely lead to the sale of the company's variable...

Insurance distributors are resigned to approval of SEC's proposed rule

September 8, 2008

As the comment period ends this Wednesday on an SEC proposed rule that would regulate certain index annuities as securities, independent distributors are gearing up in anticipation of the rule's enactment. If the rule is approved, the annuities...

Variable's loss is fixed's gain

August 11, 2008

Because of slumping second-quarter sales of variable annuities, industry observers believe fixed annuities could benefit. "In our last set of data, we were seeing an explosion on the fixed side — more than we have ever seen before," said Jeremy...

Finra floats VA marketing reform

July 30, 2008

The Financial Industry Regulatory Authority Inc. has released a rule proposal that would set guidelines on marketing materials for variable insurance products. Regulatory notice 08-39 would set guidelines on illustrations — hypothetical performance...

State insurance regulators are angry about EIA proposal

July 14, 2008

State insurance regulators are displeased with the Securities and Exchange Commission and state securities regulators about a proposal that would regulate equity index annuities as securities rather than as insurance products, and one state...

Agents express concern about higher costs and loss of control over production

July 14, 2008

Insurance agents who work primarily with equity index annuities say the Securities and Exchange Commission's proposal to regulate the products as securities would impose greater costs on their firms and hand over control of their production...

NAVA and IBM join to standardize VA sales

June 30, 2008

NAVA Inc., the Association for Insured Retirement Solutions, is teaming up with IBM Corp. of Armonk, N.Y. to make the first model available for NAVA’s straight-through-processing-standards initiative for variable annuities. The STP model aims...

Mutual funds face competition from ETFs, VAs and others

June 30, 2008

The combined total launches last year of exchange traded funds, variable annuities and closed-end funds surpassed open-end mutual fund launches for the first time, according to Boston-based research firm Cerulli Associates Inc. Of the 820 fund...

Subprime exposure afflicts Security Benefit Life Insurance

June 30, 2008

Analysts concerned about Security Benefit Life Insurance Co.'s investments in subprime-mortgage-backed securities have cut the firm's financial ratings and are keeping a careful eye on the Topeka, Kan., carrier. "This company has the highest...

Market conditions right for fixed annuities

June 23, 2008

Market turmoil and rising interest rates might kick off a new season for the fixed annuity as the product emerges from the shadow of its variable cousin, an industry expert said. "If you look analytically at market conditions, you find the variable...

NAIC soon to consider working group on annuity disclosure

June 16, 2008

Supporters of simplified disclosures for variable annuities may get a boost from a proposal that state insurance regulators will soon consider. The National Association of Insurance Commissioner's life insurance and annuities committee is in...

Brokers, insurers juggle hot potato of VA suitability

June 9, 2008

Both brokers and insurers bear responsibility for the suitability of variable annuity sales, but at different points in the sales process, industry officials said at a conference last week. "Who really should own suitability? On the one hand,...

Regulation, courts still transforming insurance products

June 9, 2008

A combination of regulatory developments and court cases since 1998 has molded annuities and insurance products into what they are today — and that development continues. From the Pension Protection Act to the Financial Industry Regulatory...

Retirement income products just can't get adviser love

June 2, 2008

Like Goldilocks, financial advisers can't seem to find many new retirement income products that are "just right." They complain that manufacturers' creations are too complex, too costly and too inflexible. Manufacturers acknowledge the advisers'...

Insurance carriers gear up for VA product season

May 12, 2008

As the weather heats up in May, so does the competition among insurance carriers that are releasing new features for their variable annuities. Offerings this season include enhanced riders as well as glitzy subaccount choices, or the investments...

The Hartford revamps variable annuity

May 5, 2008

The Hartford (Conn.) Financial Services Group Inc. today announced changes to its flagship variable annuity and its sales force. The revamped Hartford Leaders now combines attributes of the previous version of the product and The Director M...

Insurance industry expects a tax hike but not this year

March 3, 2008

Although 2008 probably won't be a year for any significant tax changes, the insurance industry is preparing for 2009 and 2010, when tax increases appear likely. "Every new president puts a major tax bill through Congress," said Joseph McKeever...

Insurers are touting no-load, low-cost VAs

March 3, 2008

Registered investment advisers just might be the next big ticket for the insurance industry. That is what carriers are betting on as they craft new variable annuity products for a fee-only philosophy. "The issue with the variable annuity has...

VA firms step up wholesaler training

February 25, 2008

Insurers are stepping up their wholesaler education efforts to help advisers prepare for tougher suitability rules involving the sale of variable annuities. Finra's Rule 2821, which becomes effective May 5, requires principals of advisory firms...

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