Results for "annuities"

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Ohio National extends variable annuity buyout offer

February 20, 2019

Ohio National Life Insurance Co. is extending by about a month a buyout offer it made on some of its variable annuity products. The insurer last year gave owners of ONcore variable annuities with a guaranteed minimum income benefit rider the...

Insurance groups tell NAIC to put 'best interest' back into annuity suitability rule draft

February 19, 2019

Insurance industry trade associations are telling state commissioners to put the words "best interest" back in a proposal to raise the advice standard for annuity sales. In the latest iteration of National Association of Insurance Commissioners'...

It's not a stock … it's not a bond

February 15, 2019

The market and investors always follow external events, and at this point in time we're experiencing a roster of factors that run the gamut. The historic bull run is on a trajectory fueled by corporate tax reform, regulatory changes and trade...

Cetera, other broker-dealers refuse to sign Ohio National contracts

February 15, 2019

A handful of broker-dealers, including Cetera Financial Group and NEXT Financial Group, have rebuffed Ohio National Financial Services Inc. by refusing to sign new agreements with the insurer, the latest twist in an ongoing dispute over variable...

Jackson National looks to expand distribution of fee-only annuities

February 11, 2019

Jackson National Life Insurance Co., the largest annuity seller, is broadening the distribution of its fee-only annuities to try to capitalize on the growing ranks of independent registered investment advisers. The insurer has partnered with...

Annuities group signs up for Rolling Stones tour

February 7, 2019

The Alliance for Lifetime Income, an organization that's trying to improve the public perception of annuity products, will be the sole sponsor of the Rolling Stones' U.S. tour later this year. The national sponsorship consists of "co-branded...

Retirement savings bill re-introduced in House with bipartisan backing

February 6, 2019

Legislation that would help small businesses offer retirement plans to their employees and ease the use of annuities in them was re-introduced in the House on Wednesday with bipartisan backing. The Retirement Enhancement and Savings Act contains...

Great-West sells life insurance and annuity business for $1.2 billion

January 24, 2019

Great-West Life & Annuity Insurance Co. has agreed to sell the bulk of its individual life insurance and annuity business to Protective Life Insurance Co. for an estimated $1.2 billion, via a reinsurance transaction, according to a company announcement...

LPL reacts to Ohio National 'violation of trust' by renegotiating VA contracts

January 24, 2019

LPL Financial, the country's largest independent broker-dealer, has renegotiated its contracts with all of its variable annuity partners in the wake of Ohio National Financial Services Inc.'s surprise announcement that it would no longer pay...

Readers weigh in on annuity buyout offer

January 23, 2019

As a nation, we have become accustomed to divided politics. As a financial planning community, we have our own version of contentious issues, and one of those hot-button issues involves variable annuities. When I asked InvestmentNews readers...

Anatomy of an annuity buyout offer

January 14, 2019

I may be going out on a limb, but after receiving numerous negative comments about my decision to purchase a deferred variable annuity from Ohio National Insurance Co. a decade ago, I am laying out the specifics of the company's recent buyout...

Being underinvested can be a risky business for preretirees

January 14, 2019

Preretirees who suffered large portfolio losses in the economic collapse of 2008 may feel reluctant, or entirely too scared, to invest in the stock market and take the chance of getting burned again. Some may have experienced the double bubble...

Ironic twist in the Ohio National annuity saga

January 11, 2019

The months-long feud between Ohio National and financial advisers has taken a strange and ironic twist. The latest perplexity involves a recent notice sent to some annuity clients of Ohio National, which stunned the brokerage industry in September...

It's about to get easier to do a 1035 exchange with annuities

January 8, 2019

Insurance companies aren't exactly known as pioneering when it comes to digital technology. Most are entrenched in paper-dominated transactions with consumers and their financial advisers. Annuity providers, however, are making a synchronized...

Another LPL adviser sues Ohio National over variable annuity commissions

January 2, 2019

Another LPL Financial adviser has sued Ohio National Life Insurance Co. and its subsidiaries for ceasing the payment of trail commissions on certain variable annuity policies, joining a chorus of other parties to have filed similar legal claims...

Retirement savings legislation dies in lame-duck Congress

December 19, 2018

Legislation that would expand the number of company-sponsored retirement plans and increase the use of annuities within them will likely die on Thursday. Proponents of the bill, which was introduced after Thanksgiving, were hoping it would be...

William Galvin hits MetLife with $1 million fine for failing to keep track of pensioners

December 19, 2018

Massachusetts Secretary of the Commonwealth William Galvin on Wednesday hit MetLife Inc. with a $1 million fine and ordered the insurance firm to pay restitution to retirees and beneficiaries who it failed to locate after taking over their retirement...

Annuity group says Ohio National poses risk to industry

December 18, 2018

The Insured Retirement Institute, an annuity industry trade group, said recent business decisions Ohio National Financial Services Inc. has made around its variable annuities poses a risk to the broader annuity industry. Ohio National stunned...

UBS sues Ohio National over lost variable annuity commissions

December 17, 2018

UBS has sued The Ohio National Life Insurance Co. and its subsidiaries for the insurer's new policy of ending adviser trail commissions on some variable annuity products. The wirehouse joins several other broker-dealers fighting the cessation...

Indexed annuity sales will soon eclipse those of variable annuities: Cerulli

December 12, 2018

Indexed annuities are set to overtake variable annuities in sales within the next three years, according to Cerulli Associates, continuing an ascent over the past several years that has steadily eroded variable annuities' market share. Variable...

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