Results for "life insurance"

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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...

The SEC botched title reform. New York got it right

September 11, 2019

Imagine you want to go skydiving. Jumping from a plane is a high-risk activity. You, as a novice, seek out professional advice to ensure you use the proper technique. After all, how could you possibly know how and when to deploy a parachute,...

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...

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...

States aren't great at regulating insurance

August 28, 2019

The U.S. insurance industry offers a test case of decentralized authority: Unlike much of the investment business, which is supervised at the federal level, insurers are almost entirely overseen by the states. [More:​ State regulators urge...

Genworth, GE and Unum need to shore up long-term care business: report

August 20, 2019

A new report questions the health of several insurers' long-term-care insurance businesses, including those of Genworth Financial Inc., General Electric Inc., Unum Group, Aegon Americas and Senior Health Insurance Co. of Pennsylvania. The situation...

Warning about insurance reserves at GE is relevant to all U.S. life insurers

August 16, 2019

Harry Markopolos shocked General Electric Co. investors Thursday when he accused the industrial giant of needing $29 billion more in funds for its insurance business. While GE disputed the charges, his analysis underscored how sweeping accounting...

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'...

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...

MAI acquires insurance-oriented RIA

July 1, 2019

MAI Capital Management, a Cleveland-based RIA managing $5.4 billion, has acquired John D. Dovich & Associates, a Cincinnati-based RIA managing $600 million that specializes in insurance. The acquisition gives MAI a location in Cincinnati and...

TIAA exit from life insurance market exposes void for RIAs

June 28, 2019

TIAA's decision to exit the life insurance market by year-end exposes a glaring void, and challenge, for some financial advisers who recommend life insurance to clients. TIAA, advisers said, is one of the few companies that sells no-load life...

Insurers bend rule on indexed universal life with new policy features

June 27, 2019

Insurers appear to be sidestepping a recent rule meant to tamp down on overly rosy projections of returns in indexed universal life insurance policies via new product features, an alarming trend that may deceive or confuse would-be buyers, advisers...

TIAA exits the life insurance business

June 26, 2019

TIAA, one of the largest U.S. life insurers, is exiting the life insurance business, ceasing the manufacture and distribution of its products by the end of the year. The firm's annuity business will continue and be unaffected by the change,...

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...

LTC insurer offering co-pays to blunt soaring premium increases

May 16, 2019

In an effort to blunt soaring premium increases on its long-term-care insurance policyholders, one insurer is offering policyholders a discount if they agree to a co-pay on claims. John Hancock Life Insurance Co. is trying the new approach....

States approving bigger rate increases for long-term care policies

May 7, 2019

States have given insurers the go-ahead to charge their customers much more money for long-term care insurance premiums in recent years, insurance company executives say, which has been a boon to the underwriters but is likely unwelcome news...

Elderly investors win $3.2 million Finra arbitration award against AXA Advisors

May 1, 2019

An elderly couple in upstate New York won a $3.2 million Finra arbitration award against AXA Advisors in a case involving unsuitable variable annuity and life insurance sales. James and Sandra Fitzpatrick alleged that their then-AXA representative,...

Insurance lobby plans blitz to get retirement bills through Congress quickly

April 24, 2019

Insurance trade associations are set to launch a campaign to gain approval for retirement-savings bills by August to ensure they don't stall again as attention turns to the 2020 election. The American Council of Life Insurers is coordinating...

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