Results for "variable annuities"

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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...

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...

Technology solutions taking aim

February 25, 2008

While industry experts and broker-dealers are working to simplify variable annuity processing and cut down on paperwork electronically, software vendors are trying to help advisers easily compare products to comply with suitability requirements....

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...

Carriers work on simplifying VAs

February 25, 2008

Aware of the appeal of variable annuity riders, carriers plan to strengthen their offerings while attempting to meet financial advisers' calls for simplicity. "Advisers want simplicity so the company that can introduce features, and show why...

Sean Dilweg

February 25, 2008

As Wisconsin's insurance commissioner and vice chairman of the Life Insurance and Annuities (A) Committee of the Kansas City, Mo.-based National Association of Insurance Commissioners, Sean Dilweg is focusing on suitability, wholesaler training...

Lincoln launches variable annuity rider

February 21, 2008

Lincoln Financial Group yesterday released its Lifetime Income Advantage rider for its variable annuity line, attempting to address a handful of retirement concerns. This new feature is an all-in-one rider that provides an income step-up to...

VAs can boost retirement returns, study finds

February 4, 2008

Variable annuities with guaranteed-minimum-withdrawal benefits allow investors to reduce risk and increase retirement income, according to a recent study. Paired with mutual funds in a portfolio, a VA can create a higher income level over a...

Banc One fined for deferred VA sales

January 29, 2008

Banc One Securities Corporation of Chicago was fined $225,000 by the Financial Industry Regulatory Authority for making unsuitable sales of deferred variable annuities to 23 customers, and for having inadequate systems and procedures governing...

Advisers ponder whether to sell annuities

January 7, 2008

Now that annuities are becoming accepted as part of an overall retirement income program, fee-only planners are wondering whether they should sell the products themselves or refer sales to outside agents. "There's more pressure brought to bear"...

FINRA wants delay in VA-sale rule

January 3, 2008

The Financial Industry Regulatory Authority has proposed a delay in the principal review portion of Rule 2821, which sets guidelines for the sale of variable annuities. After an outcry from member broker-dealer firms, Washington and New York-based...

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