The Hartford's surprise exit from several key businesses is still making waves in the advice industry. The latest news: Edward Jones has ceased selling the carrier's life insurance and annuities.
Hartford Financial Services has offered its head of wealth management, David Levenson, $2 million to stay on for another 11 months while it seeks a buyer for its life and 401(k) businesses.
Financial troubles of retired players sees union, league set up mandatory retirement savings plan
Fixed indexed annuities were a hot product among independent broker-dealer reps last year as clients sought a safe-money alternative to CDs, made virtually worthless by low interest rates.
A look at the latest trends in variable annuity sales and strategies.
Venerable insurer makes dramatic move amid pressure from shareholder John Paulson
Upper-middle class more worried about life's big moments than the next 12 months
Top participating issuers of VAs
Participating issuers, ranked by sales
VA clients are less likely to surrender their variable annuities, as living benefits retain high value
Insurer mulling raising fees and cutting benefits on popular product; low interest rates to blame
Extension of cheap money policy seen boosting annuity costs, reducing benefits and commissions
In the third-quarter, variable annuity sales surged, thanks in large part to MetLife Inc. But the jury is out on how the major insurers' decision to pare back offerings might affect overall VA sales.
In case you missed <a href=http://www.investmentnews.com/article/20120212/REG/302129979>my last column</a> in the print edition of InvestmentNews on February 13, 2012, I wrote about one of the latest buzz words in retirement income planning: longevity insurance.
