Pru to pay $615 million in cash for 700,000 life insurance contracts
That best describes the underpinnings of middle-income Americans' financial decisions. And a new survey reveals just how much it's costing them.
Prudential Financial Inc.'s decision to cut off contributions into a slate of older variable annuities with attractive benefits has raised the ire of financial advisers, this time because they were given so little time to add money to the contracts.
Bows out of group LTC insurance; halted sales of individual coverage in March
New research from Wharton shows that many financial advisers are giving their clients shortsighted -- or plain bad -- advice about Social Security.
The outlook for the LTCI business is not good. The reason? Partly, the unexpectedly large tabs being rung up by existing policyholders.
Company expanding its administrative services to yet another custodian's network
Advisers not thrilled by short deadline on variable annuity pullback
Public trustee bemoans break with historic self-financed structure
Clients claimed rep told them to put their IRA into life settlements
Advisers are still fuming about the last-minute notice they received from Prudential informing them of a lock down of several popular annuities.
Changes keep coming in the variable annuity space, as MetLife Inc. will stop taking additional contributions to VAs with legacy living and death benefits next Monday.
Though variable annuity sales continue to be dominated by a few big companies, lower-profile carriers may seek opportunities in product innovation and new distribution channels.
Thirst for immediate gratification can take six-figure toll in retirement
