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The Hartford nabs VA exec from Jackson
Steve Kluever has parted ways with Jackson National Life Insurance Co., joining The Hartford Financial Services Group Inc. and heralding a new push in variable annuity development for the insurer
Booted reps often keep insurance licenses
Neal Smalbach was fired by a broker-dealer in 2008 for selling securities while he was unregistered, an infraction that got him suspended by the Financial Industry Regulatory Authority Inc. for six months, according to the organization's BrokerCheck system.
John Hancock to settle Calif. death benefit row worth $20M
California today announced a settlement with John Hancock Financial Services Inc. after an investigation revealed that the carrier failed to deliver deceased clients' death benefits promptly to the tune or $20 million. Similar cases are ongoing in Florida, too.
Surge in VA sales leads to capacity questions
After a surge in variable annuity sales last year, financial advisers are curious about just how much more business the largest sellers can handle without biting off more than they can hedge
Hybrids an alternative to LTC rate increases
Soaring premiums on long-term-care insurance have seniors and advisers up in arms. Some believe new hybrid products may provide better protection and more flexibility.
Clients want to avoid nursing homes — or even talking about it
Survey shows few pre-pensioners have set aside money for LTC or even raise the topic with advisers or loved ones
Why health insurance is now like a box of Wheaties
Truth-in-labeling law comes to medical insurance biz; 'plain English'
Insurers getting plenty of mileage out of LTC hybrids
Combination life and long-term care polices are gaining serious traction in the marketplace. One for-instance: Sales for Lincoln National's MoneyGuard are up 62 percent over the past year.
Notes from NAPFA
The ‘new normal’ and ‘living in beta’ The attendees at the National Association of Professional Financial Advisors are…
No more regs needed for STATs: B-D exec
Unlike its life insurance counterpart, STATs also have the assumed liability of the broker-dealer writing such business
STOLI on the rocks
Trade associations representing the life insurance industry and agents today applauded New York's passage of life settlement legislation.
Judge kills Pru motion to toss death benefit suits
A Massachusetts federal court judge has quashed a motion by Prudential Insurance Co. of America to dismiss a lawsuit alleging that the insurer had wrongfully held on to veterans' death benefits instead of paying them out in a lump sum
Variable annuity market preps for features arms race
Midsize variable annuity writers such as John Hancock Life Insurance Co., Lincoln National Corp. and Transamerica Life Insurance Co. are expected to give the biggest sellers a run in the race for market share this year
Jackson CEO Wells discusses VA, hedging
About half of the assets in our variable annuity portfolios are in passive funds, which are easier to hedge
Insurers slammed for profiting off soldiers’ death benefits
White House, lawmakers back VA probe of retained-asset accounts; 'unacceptable'
Death benefits flap could trigger lawsuits against insurers
Negative publicity about so-called retained-asset accounts may fuel litigation, withdrawals by beneficiaries
More investors now think VAs are OK – but fees still a drag
Variable annuities, which combine mutual-fund-like investing with income or other guarantees, are as controversial as ever — but investors increasingly are considering purchasing them, financial advisers say
MetLife names new CIO
MetLife Inc., the largest U.S. life insurer, has selected Steven J. Goulart as chief investment officer to oversee a portfolio valued at more than $450 billion
Allianz holds out carrot for top distributors
Offers exclusive program for high-producing FMOs — if they agree to tougher compliance standards
