Results for "fixed annuities"

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Lincoln, other insurers likely to backtrack on New York annuity pullback

September 12, 2019

Lincoln Financial Group and other insurance companies that pulled some annuities from the New York market in the wake of a new state regulatory requirement will likely reintroduce the products in coming weeks, now that the New York Department...

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...

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...

Variable, indexed annuities may cost more than you think

August 29, 2019

Variable and indexed annuities are lambasted in some circles as being high-cost insurance products, with all-in annual expenses often exceeding 3%-4%. Yet investors may be paying even more for certain contract features than they think. Many...

Annuity yield in short supply as interest rates falter

August 23, 2019

Attractive annuity yields are in increasingly short supply as long-term interest rates have faltered and there is a likelihood of even more downward pressure. Let's look at multiyear guarantee annuities as an example. Some MYGAs, a type of fixed...

Fixed indexed annuity sales rise 14% to $20 billion in second quarter

August 21, 2019

Fixed indexed annuity sales totaled $20 billion in the second quarter, 14% higher than prior year results, according to data compiled by the Limra Secure Retirement Institute. [More:​ Indexed annuity sales projected to grow nearly 40% by 2023]...

Cost to play bigger role in investment recommendations

August 19, 2019

Cost will soon play a more important role in the investment recommendations brokers make to clients. The Securities and Exchange Commission, as part of its recent overhaul of investment-advice standards for brokers and financial advisers, explicitly...

SEC draws ire with indexed annuity misstep

August 16, 2019

This story has been updated with information from the Securities and Exchange Commission. The agency originally did not want to comment on the matter. The Securities and Exchange Commission caused concern among the financial advice and insurance...

Insurers pivot amid declining interest rates

August 15, 2019

Interest rates have done an about-face, and insurers are feeling the pinch. Just less than a year ago, insurance companies, financial advisers and their clients were celebrating the return of higher interest rates. More money flowed into insurers'...

IRS delivers 'game changer' for fee-based annuities

August 9, 2019

The Internal Revenue Service has issued a tax ruling that may quickly boost the use of annuities by registered investment advisers with clients, by knocking down what many saw as the primary road block to their uptake. The IRS furnished a private...

New York best interest rule for annuity, life insurance sales upheld by state court

August 5, 2019

The New York State Supreme court upheld a state regulation imposing a tougher standard on agents and brokers selling annuity and life insurance policies, on the eve of the rule taking effect. Acting Supreme Court justice Henry F. Zwack said...

Cetera, Allianz and Capital Group partner on retirement income technology

July 10, 2019

Cetera, Allianz and Capital Group are collaborating on a new retirement income tool the companies say will help advisers generate a reliable source of retirement income that lasts the rest of a client's life. The tool, SetIncome, is exclusively...

Some insurance agents breaking law with 401(k) rollovers

May 30, 2019

Rolling money out of a 401(k) plan to fund an insurance product, like an annuity or life insurance policy, can be a difficult, tense decision for retirees. After all, seniors are earmarking a large chunk of their nest egg. These rollovers are...

Variable annuities lose more ground to fixed annuities

May 21, 2019

Variable annuity sales continued their downward spiral last quarter on the back of volatile equity markets, losing yet more ground to fixed annuities. VA sales of $22.8 billion in the first quarter were down 7% from the year prior, according...

Edward Jones doesn't sell indexed annuities, bucking broker-dealer trend

May 6, 2019

Edward Jones has taken a contrarian stance on indexed annuities, declining to allow its brokers to sell the annuity products even though its peers are doing so and the products are increasingly popular industrywide. The St. Louis-based brokerage,...

Variable annuity sales up big among independent broker-dealers

April 19, 2019

Independent broker-dealers saw big growth in their sales of variable annuities last year, even as other distribution channels such as the wirehouses and other large national brokerage houses saw sales stay flat or decline. The boost appears...

Indexed annuity sales projected to grow nearly 40% by 2023

April 5, 2019

Indexed annuities, fresh off a record sales year, are poised for substantial growth over the next four years, according to projections from Limra, an insurance industry group that expects the stock market to remain volatile and interest rates...

New annuities starting to address RMDs

April 1, 2019

Allianz Life Insurance Co. of North America is launching an indexed annuity geared toward clients 70½ and older who don't need the money that the government requires they withdraw each year from retirement accounts in the form of required minimum...

Jackson National loses top annuity sales spot to AIG

March 26, 2019

Jackson National Life Insurance Co. ceded its six-year reign atop the annuity sales leaderboard to American International Group Inc. last year, as AIG rode a wave of strong fixed and indexed annuity sales to overtake the former No. 1. AIG sold...

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