Luma aims to get a broader set of advisers to engage with annuities with access to the Cannex database and annuity-focused tools.
Recently, Nebraska, Idaho and North Dakota passed rules matching NAIC’s standard, joining other states on the roster: Arkansas, Arizona, Delaware, Iowa, Michigan and Rhode Island.
The trade group says its members could save as much as 50% over the cost of health coverage on the open market.
We can learn from the last year and look back on it as a catalyst to achieve long-term, sustainable and far-reaching positive change.
Data from InvestmentNews Research and an annuities webcast show that more advisers are interested in the products.
Not having a retirement income solution within a DC plan is like having the pilots on a commercial flight parachute off midflight, forcing passengers to land the plane.
Annuities are one of the leading recommendations for near retirees who are concerned about running out of money. But they are also poorly understood by many consumers, and that puts people at risk for being sold inappropriate products in amounts that represent an outsize proportion of their savings.
Fuller, who had been executive vice president of Lincoln Group, succeeds Mark Mullin, who becomes board chairman.
There are various factors beyond Covid infections to consider, some of which could have a positive effect on life expectancy, and other that could take away from it, according to a recent report published by longevity-risk consulting firm Club Vita.
The insurer also led in variable annuity sales last year, while New York Life sold the most fixed annuities.
Annuities are an answer to one of the most vexing worries that Americans face – outliving their money in retirement, IRI leaders said. But a critic countered that the products need to come with more investor protections.
HSAs now hold more than $82 billion in assets, Devenir survey finds.
Retirees in the pension plan of Philips North America will receive the same monthly benefit.
The activist investor reportedly is pushing Principal to focus more on its wealth management operations and less on the life insurance business.
Last year’s market plunge and quick recovery appear to have changed the way people feel about the value of guaranteed lifetime income, Cannex found. In February 2020, 71% of people said they found guaranteed lifetime income highly valuable, but that figure had dropped to 63% by August.
The changes, which take effect May 1, mark the second time in a year that the company has significantly altered its insurance-series funds to make them match their better-known retail counterparts.
Short-term mutual fund trades and variable annuity switching is generally regarded in the retail securities industry as a way for brokers and advisers to increase commissions at the expense of clients.
Details of the bonus plan have yet to be revealed. But Adam Antoniades, CEO of Cetera, said such a plan would be forthcoming in an effort to retain as many advisers as possible.
Private equity-backed networks like Cetera Financial Group have been eager to expand. The latest deal will add 900 Voya advisers with $40 billion in client assets onto the independent broker-dealer's platform.
Regulators say the insurance company’s American General Life subsidiary operated in the state without a license, undertaking four large-scale pension risk transfers and bidding on others.
