There is value to annuitization through a single premium immediate annuity, said insurance industry experts.
The process could come to a favorable conclusion for the bond insurer early this week.
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 and curbing VA abuse.
Insurers are stepping up their wholesaler education efforts to help advisers prepare for tougher suitability rules involving the sale of variable annuities.
Aware of the appeal of variable annuity riders, carriers plan to strengthen their offerings while attempting to meet financial advisers' calls for simplicity.
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.
Portfolio volatility and the sequence in which returns are realized play a unique role in portfolios subject to regular retirement withdrawals.
MBIA has pulled away from the Association of Financial Guaranty Insurers, saying it no longer shared the trade association’s views.
The two were among a group of ex-Marsh executives who were charged in a criminal indictment in September 2005.
The New York State Insurance Department also reproached the plan, arguing that it would be “bad for the banks.”
Ex -AIG CEO Maurice R. Greenberg will get court-ordered access to legal documents that could help him fight fraud charges, according to published reports.
The all-in-one rider provides an income step-up to 200% of the initial guaranteed amount 10 years into the policy.
The Charlotte, N.C.-based bank collected $483 million in annuity fees, or 0.06% of $782.8 billion in assets.
Warren Buffett faced is facing criticism after Moody’s Investors Service — in which he is the largest stakeholder —told bond insurers to accept a bailout.
The <a href=/assets/docs/CI39631220.PDF>assessment</a> details areas where reciprocity and uniformity initiatives must improve in U.S. states.
Iowa will be the first state to join an initiative to provide customers with plain-English disclosure on fixed and indexed annuities.
Officials have testified that the time is right for a federal insurance regulator.
Insurer settles with California over allegedly inappropriate fixed annuity sales.
DTCC has trimmed fees for mutual fund and insurance transactions.
Goldman Sachs has created an index for investors seeking opportunity in longevity and mortality risk.
