Results for "life insurance"

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MassMutual sets 7% payout for '13, showing up fixed income

October 29, 2012

Dividend-paying whole-life insurance is starting to shine amid today's abysmal rates for fixed-income investments. Massachusetts Mutual Life Insurance Co. today announced that its board of directors approved a $1.39 billion dividend payout in...

Nationwide decides to sign, settles death benefits probe

October 12, 2012

Nationwide Financial Services Inc. has settled charges that it mishandled unclaimed life insurance death benefits. The settlement, which was led by the Florida Department of Financial Services and six other states, requires Nationwide to begin...

Seeking fee boost, MetLife to run money for big investors

October 9, 2012

MetLife Inc. (MET), the largest U.S. life insurer, said it will add asset management for institutional investors as part of Chief Executive Officer Steven Kandarian's push to expand fee income. The insurer, with more than $500 billion in its...

Advisers tread lightly when talking with clients about LTC

October 7, 2012

Financial pressures weighing down the long-term-care insurance industry are forcing advisers to broach the touchy subject of higher premiums and less comprehensive benefits with clients. Companies that sell LTCI coverage are feeling the stress...

Something new to insure against: Longevity

October 7, 2012

Amid all the cooling in the annuity development industry, one area is picking up steam: deferred-income annuities, or longevity insurance. Last Monday, Northwestern Mutual Life Insurance Co. announced the release of its Select Portfolio Deferred...

The Hartford makes 180-degree turn with reorganization

October 7, 2012

The recession has forced a makeover of sorts at The Hartford Financial Services Group Inc., where financial advisers are contending with a significantly different insurer than they did five years ago. In its most recent move to divest assets,...

Hartford deals individual-life unit to Prudential as sell-off continues

September 27, 2012

The Hartford Financial Services Group Inc. has whittled away yet another of its businesses, this time selling off its individual-life-insurance business to Prudential Financial Inc. In an announcement late Thursday, the insurers announced that...

Facing possible estate tax, investors stick to sidelines

September 25, 2012

About 15 million households soon could end up with estate tax liabilities, but many wealthy individuals in this scenario are not yet putting plans in place to minimize them. Today, individuals are allowed a $5.12 million federal estate tax exemption,...

Protection gap is widening

September 16, 2012

Just as the markets plummeted amid the recession, so did life insurance coverage among American families. In 2010, families whose primary breadwinner was under 55 had $32 in net assets and life insurance in place for every $100 of protection...

$400M sale to let Hartford retire from retirement biz

September 9, 2012

The Hartford Financial Services Group Inc. is selling its retirement plan business to Massachusetts Mutual Life Insurance Co. for $400 million as part of a restructuring it embarked on this year. “The agreement marks the second of three planned...

Life insurance agent accused of scamming Lincoln, N.Y. Life

July 26, 2012

The U.S. Attorney's Office in Baton Rouge, La., on Wednesday charged life insurance agent Timothy R. Schlatre with mail fraud, money laundering and asset forfeiture for his alleged role in a life insurance scam. The resident of Denham Springs,...

Life insurance guidelines could tie captive agents' hands

July 22, 2012

Life insurance agents who are limited to selling proprietary products may find it difficult to meet a fiduciary standard as it is being defined by a task force helmed by a fiduciary advocate. The first draft of the guidelines was developed in...

T. Boone Pickens, Okla. State strike out again

June 21, 2012

For a second time, Oklahoma State University and T. Boone Pickens find themselves on the losing end of a court battle to recoup $33 million in a failed fundraising plan that involved insurance policies covering the lives of donors. A decision...

Carriers bet on life insurance in place of annuities

June 17, 2012

With low interest rates and volatile equity markets slowing annuity sales, insurance companies think that life insurance will be their next hot revenue generator. And they expect financial advisers to help carry out their plans. “The huge...

Life insurance — not annuities — is the next area for growth: Insurance execs

June 6, 2012

The next frontier for sales growth isn't annuities but life insurance. That was the conclusion reached by life insurance chief executives on a panel at an insurance industry conference hosted by Standard and Poor's this morning in New York....

Jackson National to buy Swiss Re's U.S. life business

May 31, 2012

Jackson National Life Insurance Co. will pay $621 million in cash for the life insurance assets of Swiss Re Group's American division to boost its scale in that business and further diversify earnings from its primary annuity business. The deal...

MetLife trims VA offerings

May 27, 2012

MetLife Inc., following other major variable annuity providers, plans to trim its VA offerings in an effort to decrease its risk and increase profitability. The Hartford Financial Services Group Inc., ING Groep NV and Sun Life Financial Inc....

Choli rollers: Aviva to settle charges in alleged church insurance scam

May 25, 2012

Aviva Life & Annuity Co. is settling charges against a group of insurance agents who allegedly sold coverage to some 131 church members under false pretenses. The settlement notice, filed May 10 in the U.S. District Court for the Central District...

Genworth's Joelson steps down from running $75B portfolio

April 30, 2012

Genworth Financial Inc., the mortgage guarantor and life insurer, said Chief Investment Officer Ronald Joelson is leaving the company to join Northwestern Mutual Life Insurance Co. in the same role. Daniel Sheehan was promoted to oversee the...

MetLife to pay $500M to settle death benefit probe

April 23, 2012

MetLife Inc., the largest U.S. life insurer, will pay about $500 million in a multistate settlement after regulators reviewed whether companies were holding funds that should go to beneficiaries. MetLife said $188 million will be paid in 2012,...

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