Results for "life insurance"

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Universal life insurance lawsuits underscore product risk

September 19, 2018

Lawsuits filed against insurers in recent years for their practices around universal life insurance policies highlight the risks these products can pose for unwary financial advisers and clients. Transamerica Life Insurance Co., AXA Equitable...

Western & Southern buys Gerber Life Insurance in $1.55 billion deal

September 18, 2018

Western & Southern Financial Group has bought Gerber Life Insurance Co., a subsidiary of Nestlé, in a deal valued at $1.55 billion. Gerber Life, a direct-to-consumer life insurer, has $52 billion of life insurance in force and covers 3.6 million...

Life insurance is not for saving

September 11, 2018

Stop buying life insurance as a savings strategy. Stop buying it as a tax-deferral vehicle for retirement savings. Stop spending thousands of dollars a month on life insurance premiums, at least until you read the rest of this column. Life insurance...

DOL fiduciary rule caused $14 billion in stock losses for investment firms: report

September 5, 2018

The Department of Labor's fiduciary rule led to "tremendous" losses for brokerage and other investment firms, causing billions of dollars to be shed from their market valuations as investors feared the rule would hurt profitability, according...

Brokers, advisers and insurance agents implicated in alleged $100 million investment fraud

August 23, 2018

Dozens of financial intermediaries — including stockbrokers, financial advisers, financial planners and insurance agents — are being sued for an alleged investment fraud that attorneys claim cost more than 1,000 investors, many of whom were...

Annuity rule likely won't include a fiduciary standard, NAIC says

July 24, 2018

The National Association of Insurance Commissioners indicated it would not impose a fiduciary standard on insurers and insurance producers as part of its overhaul of annuity sales rules, according to draft language of the group's model regulation...

New York issues final best-interest regulation for annuity, life insurance sales

July 18, 2018

New York issued a final regulation Wednesday that would raise the standard of care for sales of life insurance and annuities. The measure would require insurers to establish policies and procedures that ensure agents and brokers put the interests...

Alphabet soup is hot, and clients will pay more for those letters

July 16, 2018

Say what you will about the expansive alphabet soup of financial-planning credentials and designations, but new research shows consumers are migrating toward those advisers with letters listed after their names. "We found that consumers value...

Why the super wealthy may want to fund life insurance with a loan

June 22, 2018

Wealthy clients looking to use life insurance in their estate plans may find that funding their policies with a loan makes sense, especially as interest rates are still relatively low. The goal is to exploit low interest rates to get a cheap...

SEC charges insurance agent with $1.27 million Ponzi scheme

June 22, 2018

The Securities and Exchange Commission has charged James Hocker, a Bellefonte, Penn., insurance agent, with engaging in a Ponzi scheme that targeted unsophisticated retail investors. After selling insurance policies, according to the SEC's complaint,...

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...

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...

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...

The magic in talking about cost

April 9, 2018

I recognize there can be a natural hesitation in talking about fees and costs in the financial services business. After all, talking about costs puts costs front and center in the mind of a client, which in turn places front and center the risk...

Life insurance 'advice' in an era of fake news

February 14, 2018

Fake news is an opinion presented as if it were fact. It's driven by both the high demand for content to fill the 24-hour news cycle on hundreds of cable channels and the supply of content from anyone with an opinion they can present in a blog...

New York lobbies for nationwide 'best-interest' standard for life insurance sales

January 26, 2018

New York State is lobbying for a higher standard of care for life insurance sales across the country, arguing that consumers need stronger protections from conflicted advice and building off a national dialogue set off by the Department of Labor...

State fiduciary rules may be reckoning for life insurance industry

January 19, 2018

The life insurance industry escaped the jaws of the Department of Labor fiduciary rule only to come face to face with another beast: the states. New York's recent proposal to impose a best-interest standard on life-insurance sales — a higher...

New York State proposes 'best interest' standard for life insurance and annuities

December 27, 2017

New York State's top financial watchdog proposed regulations that would require sellers of life insurance and annuities to act in the best interest of clients, raising standards even as the U.S. government delays its fiduciary rule. Products...

Longevity is the best reason to invest in LTC

December 21, 2017

A majority of the population is going to need long-term care someday. It's seldom easy, however, to convince clients that they should protect themselves with LTC insurance just when they're enjoying a healthy middle age, with more immediate...

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