Results for "annuities"

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Timing matters when it comes to managing sequence-of-returns risk

December 6, 2019

"Time is money" is a popular adage, but when it comes to retirement, it's usually timing that matters most. Significant losses or depletions to savings early in retirement can diminish a retiree's nest egg and derail plans. This is known as...

Five brokers lose Ohio National lawsuit over annuity commissions

November 22, 2019

A group of five brokers lost a lawsuit against Ohio National Life Insurance Co. over the insurer's termination of commission payments for certain variable annuity policies. Judge Emily C. Marks of U.S. District Court in Alabama dismissed all...

Buffer annuities push variable annuity sales to three-year high in Q3

November 19, 2019

Variable annuity sales hit a three-year high in the third quarter, a notable turnaround from their slump in recent years that largely reflects the growing sales of buffer annuities. Buffer annuities, a subset of variable annuities, are also...

Insurer lures young annuity buyers by invoking parents' financial woes

November 14, 2019

Massachusetts Mutual Life Insurance Co. is banking on attracting a swath of younger annuity customers by citing the threat of their parents' financial insecurity in old age. The insurer issued a new annuity product Wednesday with a simple marketing...

State insurance commissioners closing in on stronger standard for annuity sales

November 7, 2019

State insurance regulators are closing in on a final rule to strengthen the investment-advice standard related to annuity sales, but a critic says the standard falls short of the best-interest protection provided in New York. Earlier this week,...

SECURE Act 'frozen' by Trump impeachment inquiry

November 6, 2019

A retirement bill many financial advisers have been eyeing with interest is being held up by impeachment proceedings in Washington, as President Donald J. Trump confronts allegations he abused the power of his office in his dealings with Ukrainian...

Fidelity to launch program for 401(k) participants to draw down accounts

October 31, 2019

Fidelity Investments is rolling out technology early next year trying to help participants draw down their 401(k) accounts and model scenarios for collecting regular paychecks from their retirement assets. Fidelity, the largest record keeper...

Security Benefit indexed annuity fraud lawsuit may signal trouble for other insurers

October 25, 2019

A lawsuit that alleges Security Benefit Life Insurance Co. engaged in a fraudulent scheme related to its indexed annuities hints at trouble for other indexed annuity shops at a time when the products are growing more popular. The lawsuit, Howard...

3 advantages of using fixed indexed annuities in retirement

October 23, 2019

Fixed indexed annuities are often pegged as a safer way to invest in the market. As such, many financial advisers spurn the product due to its perceived inefficiencies in growing wealth when compared to straightforward investment strategies....

Why are fixed indexed annuities primed for growth?

October 16, 2019

Fixed indexed annuities, also referred to as equity indexed annuities, have been a hot button issue for decades now. But FIAs have also been widely misunderstood by investors, advisers and regulators, often being confused with variable annuities....

LPL, Triad brokers lose Ohio National lawsuit over variable annuity commissions

October 4, 2019

Brokers affiliated with LPL Financial and Triad Advisors have lost separate lawsuits against Ohio National Life Insurance Co. that sought to overturn the insurer's decision to stop paying variable annuity commissions. Concurrently, however,...

Prudential reverses variable annuity suspension in New York

October 4, 2019

Prudential Financial Inc. will reintroduce its fee-based variable annuities in New York, following a suspension of its product sales a few months ago in connection with the state's new best-interest rule for annuity and life insurance sales....

Investigation into 403(b) costs, sales could be an A+ for teachers

October 3, 2019

New York's investigation 403(b) plan costs and sales tactics used by insurers is welcome action from regulators that will hopefully be accompanied by long-overdue reforms and financial relief for vulnerable consumers. The exploited consumers...

In New York deal, six insurers will pay $1.8 million over annuity sales practices

September 24, 2019

New York State's Department of Financial Services has entered into consent orders with six life insurance companies over violations of the state law covering transactions in which deferred annuities were replaced by immediate annuities. Collectively,...

What's driving growth in the fixed indexed annuity market?

September 23, 2019

The U.S. annuity market underwent a significant shift following the Great Recession. Prior to the economic crash, variable annuity sales propelled growth in the annuity market, accounting for over 70% of the $265 billion in annuity sales in...

Jackson National to reintroduce fee-based annuities in New York

September 16, 2019

Jackson National Life Insurance Co. plans to reintroduce fee-based annuities in New York, weeks after the company suspended sales due to concerns about an insurance regulation that took effect in the state. Jackson, which is the second-largest...

Lincoln, Penn Mutual pull insurance products from New York in wake of best-interest rule

September 6, 2019

More insurers are deciding to pull products like annuities and life insurance from the New York market as the state's best-interest rule takes hold. Lincoln Financial Group, the fourth-largest seller of annuities in the U.S. last year, suspended...

Retirement security advocates hope to attach SECURE to budget legislation in coming weeks

September 4, 2019

Backers of a major retirement-savings bill hope it will catch a ride on legislation that must pass this fall to keep the federal government open. In May, the House approved the Setting Every Community Up for Retirement Enhancement Act with overwhelming...

Headwinds to annuities in 401(k) plans persist

September 4, 2019

The uptake of annuities in 401(k) plans has been muted and slow. There are several reasons for this state of affairs, such as administrative and legal challenges, which have withstood the industry's push to change the status quo and many advisers'...

Jackson National suspends fee-based annuity sales in New York due to best-interest rule

September 3, 2019

Jackson National Life Insurance Co. has suspended sales of fee-based annuities in New York in response to a new rule that imposes tougher standards on brokers and life insurance agents selling insurance products in the state. The insurer, which...

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