Results for "annuities"

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B-Ds brace for new rule on sales of deferred VAs

November 5, 2007

A new rule governing broker-dealers' sales of deferred variable annuities is about to drop, and the firms are arming themselves to face it — but not without a little grumbling. The Financial Industry Regulatory Authority Inc.'s Rule 2821,...

Vendors of equity index annuities look to education

November 5, 2007

While many financial advisers continue to criticize and shun equity index annuities, insurance companies that sell the product are trying to improve its tarnished image by focusing on education. "A few firms walked away from it, but this product...

Hancock offers 8% withdrawal guarantee on annuities

October 29, 2007

John Hancock Annuities is making a run for old and young retirees with a new annuity rider. The Boston-based firm, a unit of Manulife Financial Corp. of Toronto, is offering an 8% guaranteed-withdrawal-benefit rider on its annuities, expecting...

Phoenix, Jefferson agree to focus on fee-based advisers

October 22, 2007

The Phoenix Cos. Inc. has formed an alliance with Jefferson National Life Insurance Co. in which Phoenix will use the Jefferson technology platform to offer no-load variable annuities to fee-based advisers at wirehouses and regional broker-dealers....

Advisers, providers remain skeptical on ETF-based annuities

October 8, 2007

More than two years after the launch of the first variable annuity based on exchange traded funds, VA providers and financial advisers are still ap-proaching the product with caution. As separate products, ETFs and variable annuities are increasingly...

Jackson National unveils annuity

September 25, 2007

Jackson National Life Insurance Co. today released Jackson AscenderPlus Select, a new fixed index annuity. This product provides investors with a guaranteed minimum interest rate, plus a guaranteed minimum death benefit. By linking to either...

Individual annuity sales hit record highs

September 11, 2007

Individual annuity sales increased 6% in the second quarter to a record of $66.5 billion over the same period in 2006, according to LIMRA International Inc. Sales of annuities for the first half of the year were up 3% over the first half of...

Use of income annuities in retirement gets a plug

August 27, 2007

CHICAGO — While income annuities are the most cost-effective way to provide income at retirement, investors are reluctant to purchase them, according to a new study. Consumers aren’t annuitizing enough of their portfolios, according to the...

Annuity marketers invade video websites

August 6, 2007

NEW YORK — Middle-aged men in wigs performing a rap song, promises of a “Leadzilla” lead-generation system, and claims of millions of dollars in annual commissions — is this any way to market annuities? On YouTube.com, MySpace.com and other...

Suitability czar plan raises questions

July 23, 2007

NEW YORK — Is the creation of a top-level suitability monitoring job by Allianz Life Insurance Company of North America a step forward in annuity marketing or a defensive position in response to a battery of lawsuits? That is a question many...

EIA suits’ separate fates show specificity is key

July 16, 2007

NEW YORK — Two legal decisions this month related to equity index annuities make clear that plaintiffs must attack specific annuity provisions or standardized marketing materials in order to show the “commonality” needed for class action...

Mother-daughter firm finds its sweet spot

July 9, 2007

NEW YORK — Cynthia Keithley, principal of Keithley Investment Group LLC, goes to almost any length to serve her small-fry clients. But as a financial advisory business grows, the ability to say “no” can be the difference between profitability...

VAs trail funds in sales growth at the banks

June 25, 2007

NEW YORK — Bank sales of variable annuities that invest in mutual funds continue to grow but are outpaced consistently by those of mutual funds. That’s a function of periodic adverse publicity combined with compliance hassles, observers say....

Insurers meld LTC into life insurance

June 11, 2007

NEW YORK — More insurers are offering riders that include long-term-care coverage in life insurance policies. The Hartford (Conn.) Financial Services Group Inc. in May made LTC coverage an option on its variable universal life policy. The rider...

Life cycle portfolios catching on in variable products

June 4, 2007

CHICAGO — Life cycle fever seems to be spreading from 401(k) plans to variable annuities. At ING Variable Annuities, for instance, assets in LifeStyle portfolios — which were introduced as ING-managed subaccounts in mid-2004 — reached $8...

Longevity plagues financial planning

May 14, 2007

NEW YORK — “Four score and seven years” may soon be more recognizable as the typical baby boomer life span than the start of a famous speech. For a 65-year-old couple, there is an 85% chance that at least one of them will live past 85, according...

T. Rowe gets into 401(k) annuities

April 23, 2007

NEW YORK — Mutual fund giant T. Rowe Price Group Inc. said that it has started offering 401(k) plans in an online platform that participants can use to purchase annuities. Two other 401(k) plan providers, CitiStreet Associates LLC and Hewitt...

Annuity, fund sales flat at banks, notes study

April 9, 2007

NEW YORK — Fee income from variable and fixed annuities, and mutual funds, sold by banks declined by 0.6% last year to $19.33 billion, from $19.46 billion in 2005, according to a recent study. The report was based on a survey of about 1,000...

CPA touts 6.6% sustainable retirement withdrawal rate

April 9, 2007

NEW YORK — Financial advisers can safely increase their clients’ retirement income by 50% or more by structuring withdrawals differently, according to a certified public accountant who specializes in retirement income planning. Instead of...

VA sales strong in 2006; expected to remain robust

April 9, 2007

NEW YORK — As long as the stock market keeps rising, and baby boomers keep getting older, variable annuity sales should continue to be robust, industry observers say. VA sales were up in the fourth quarter and for 2006, compared with year-earlier...

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