Results for "annuities"

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Insurers slow production of fixed-index annuities

April 5, 2009

Insurers, concerned about conserving capital, have put the brakes on their fixed-index-annuity production, a move that advisers say could put a crimp in their business. Carriers, including Des Moines-based Aviva USA — the largest seller of...

Florida annuity-sales fraud bill advances

April 2, 2009

A Florida Senate bill that would levy heavy penalties on agents and financial advisers who make fraudulent annuity sales has moved closer to becoming law — though not without a few insurance industry-friendly changes. The Safeguard our Seniors...

Retirement product marketing tactic draws critics

March 29, 2009

A marketing technique called framing is being looked at with suspicion even thought it often produces a positive result — getting people to save for retirement. "How decisions are made are very much influenced by how the decision is framed,"...

Florida annuity proposal worries insurance industry

March 22, 2009

As Florida weighs proposed legislation that could make it easier to toss annuity salespeople into prison, agents and the insurance industry are rallying to fight the bill. Florida's Senate Banking and Insurance Committee voted in favor of the...

Variable annuity sales plunged 30% in 4Q

March 19, 2009

Sales of variable annuities fell in the fourth quarter as premium flows hit $33.3 billion, according to data from NAVA Inc. That’s down 30.3% from the comparable period in 2007. Fourth-quarter net sales of variable annuities, which exclude...

Fixed-annuities sales rose 60% in 2008

March 6, 2009

Sales of fixed annuities climbed to $107 billion last year, up 60% from 2007, according to the Beacon Research Fixed Annuity Premium Study. Fourth-quarter fixed-annuities sales hit a six-year record for the third-consecutive quarter, rising...

Finra's VA suitability rule still sticks in B-Ds' craw

March 1, 2009

Fears of increased paperwork and disclosures related to Finra's variable annuity suitability rule have been realized, with many firms reporting that they are still overburdened by hair-splitting requirements. Last May, the New York- and Washington-based...

NAVA marketing conference notebook

March 1, 2009

Panelists addressed myriad issues at the annual marketing conference held in New York by NAVA Inc., the Reston, Va.-based variable annuity trade association. RATINGS CONCERNS During one session, Doug Meyer, managing director of U.S. life operations...

Advisers want more-understanding wholesalers

February 25, 2009

Financial advisers, already overwhelmed with frazzled clients, want more understanding from their wholesalers, said panelists at the NAVA Inc. marketing conference this week. “Wholesalers need to know us and work with us the way we work with...

Despite problems, advisers are upbeat about VAs

February 22, 2009

Advisers may complain about variable annuities, but most still endorse the product. According to an InvestmentNews online survey conducted Jan. 29 to Feb. 17, more than 68% of 1,851 advisers polled said they were currently recommending VAs to...

Indie B-Ds cast wary eye on insurers

February 22, 2009

Seeking to assess the strength of the insurance carriers they do business with, many smaller independent broker-dealers — flummoxed by the insurers' opaque balance sheets and arcane accounting practices — are relying on a time-tested tool:...

Eric R. Dinallo

February 22, 2009

As this year's returning chairman of the NAIC's Life Insurance and Annuities (A) Committee, Eric R. Dinallo's priorities are making sure that consumers are protected while helping carriers steer a course through choppy economic waters. This...

Low rates, market volatility increase VA costs

February 22, 2009

Investors' concerns about negative market returns are likely to create a greater demand for guaranteed products such as variable annuities, but the downturn in the markets has changed the insurers' cost of managing the hedging risk of VAs. To...

Spendthrift trusts are said to be gaining attention

February 8, 2009

Client interest in establishing spendthrift trusts for beneficiaries is picking up steam, partly due to the fact that wealthy clients are becoming more risk-averse, according to financial advisers. Spendthrift trusts are put in place when the...

NAIC vetoes reserve relief for VA carriers

February 1, 2009

A National Association of Insurance Commissioners executive group last Thursday vetoed a proposal from the insurance industry to loosen required capital and surplus levels. Members of Kansas City, Mo.-based NAIC met via a conference call to...

SEC sued to overturn index annuity regulation

January 16, 2009

A coalition of equity index annuity insurers and marketers today sued the Securities and Exchange Commission to overturn the index annuity regulation approved by the SEC in December. The suit was filed by American Equity Investment Life Insurance...

Plans' lack of target date savvy presents opportunity

November 30, 2008

Many plan sponsors aren't focused on the investment strategies behind target date funds, creating an opportunity for financial advisers to play a greater role in the retirement-planning process, according to a survey by JPMorgan Asset Management...

Warning lights flash for Michigan advisers

November 23, 2008

As representatives from the American auto industry plead for a multibillion-dollar federal bailout, some financial advisers are already bracing for worst-case scenarios that could leave thousands of autoworkers, retirees and those working in...

Index annuities likely to become securities

November 13, 2008

A proposal to regulate equity index annuities as securities is likely to be approved by the Securities and Exchange Commission, an insurance regulator said today. “I see this as moving through the SEC at some level,” Wisconsin Insurance Commissioner...

Despite market turmoil, consumers seek life insurance

November 9, 2008

Carriers may be going through their own tumult, but that hasn't stopped clients from seeking life insurance coverage, according to agents and advisers. Insurers are coming out of a rocky third quarter in which many of them experienced sliding...

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