Results for "annuities"

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Annuitization can be a boon, say experts

February 26, 2008

There is value to annuitization through a single premium immediate annuity, but it’s simply a matter of communicating that point to advisers, according to a panel of insurance industry experts. Historically, advisers have been concerned about...

Carriers work on simplifying VAs

February 25, 2008

Aware of the appeal of variable annuity riders, carriers plan to strengthen their offerings while attempting to meet financial advisers' calls for simplicity. "Advisers want simplicity so the company that can introduce features, and show why...

VA firms step up wholesaler training

February 25, 2008

Insurers are stepping up their wholesaler education efforts to help advisers prepare for tougher suitability rules involving the sale of variable annuities. Finra's Rule 2821, which becomes effective May 5, requires principals of advisory firms...

Technology solutions taking aim

February 25, 2008

While industry experts and broker-dealers are working to simplify variable annuity processing and cut down on paperwork electronically, software vendors are trying to help advisers easily compare products to comply with suitability requirements....

Wachovia tops in annuity-sales commissions

February 20, 2008

Wachovia Corp. earned the most commissions from annuity sales last year, beating other bank holding companies for the title, according to Singer’s Annuity and Funds Report. The Charlotte-based bank collected $483 million in annuity fees, or...

Plains state aims for plain English

February 18, 2008

Iowa will be the first state to join an initiative to provide customers with plain-English disclosure on fixed and indexed annuities. In an initiative backed by the state's insurance division, the American Council of Life Insurers in Washington...

Annuities gain ground in retirement market

February 11, 2008

Despite initial concerns about portability, cost and complexity, annuities in defined contribution plans are slowly gaining momentum, according to a new report. The report, which was released late last month by Boston-based Financial Research...

Gazing at the new-product horizon

February 4, 2008

The forces that drove the retirement marketplace in 2007 — the automatic enrollment and default option provisions of the Pension Protection Act of 2006, the aging baby boomers and a focus on the rollover market — will continue to shape product...

VAs can boost retirement returns, study finds

February 4, 2008

Variable annuities with guaranteed-minimum-withdrawal benefits allow investors to reduce risk and increase retirement income, according to a recent study. Paired with mutual funds in a portfolio, a VA can create a higher income level over a...

Insurers revamp equity index annuities for boomers

January 28, 2008

Inspired by market volatility, insurance carriers are making over their equity-index annuities in an attempt to beat a bad reputation and target baby boomer investors. Historically, the products, also known as fixed-index annuities, have been...

Annuity sales can destroy estate planning strategies

January 28, 2008

Insurance agents and advisers are hawking annuities without grasping the adverse impact on clients' estate plans, industry observers said. The annuity industry brought in $189.4 billion in year-to-date sales by the end of the third quarter last...

Advisers ponder whether to sell annuities

January 7, 2008

Now that annuities are becoming accepted as part of an overall retirement income program, fee-only planners are wondering whether they should sell the products themselves or refer sales to outside agents. "There's more pressure brought to bear"...

Client frame of mind plays role in purchase of annuities

December 17, 2007

The mind-set of clients presents a significant stumbling block to advisers who recommend annuities as a retirement-planning tool. While many investors are on a quest for steady income during their retirement, some freeze up at the thought of...

More states may clamp down on improper asset transfers

December 17, 2007

Elder-law attorneys are concerned that the new year will bring new rules in a number of states regarding how — and if — immediate annuities can work with Medicaid eligibility and planning. Brokers and advisers who are unaware of these rules...

Fixed-income annuities gain clout among advisers

December 3, 2007

More advisers are turning toward fixed-income annuities as a new asset when they create retirement plans for their baby boomer clients. "With the dearth of defined benefit plans, lifetime income has become an asset class unto itself," said Joe...

Raymond James researches VA riders

December 3, 2007

Raymond James Financial Inc. of St. Petersburg, Fla., last month rolled out a series of research reports on variable annuity riders designed to help its reps sort through the confusing array of products. The firm believes it is the first broker-dealer...

Lockwood plans a UMA with an income guarantee

December 3, 2007

An insurance policy that provides an income guarantee to holders of a unified managed account at Lockwood is in registration at the Securities and Exchange Commission. Known as a Guaranteed Retirement Income Solution, the insurance policy is...

Is disinterest in retirement products problematic?

November 26, 2007

Financial advisers lack interest in new retirement income products, with many reporting that the products are too complicated and costly, according to observers. "Skepticism is healthy, but advisers may be missing the boat on the subject. They...

Mutual fund/insurance hybrid on the horizon

November 26, 2007

As early as next year, retirees may see a new hybrid investment product that blends mutual funds with insurance guarantees, possibly signifying an alliance between the two industries. "[Asset managers and insurance companies] are trying to provide...

Birthday gift annuities relieve worries

November 19, 2007

Children don't always grow up to be the responsible types we hope for. My client Anne is divorced, with a traditional individual retirement account valued at $1 million. She loves her adult children, but she worries about leaving them money...

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