Results for "life insurance"

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Indexed universal life insurance sales continue hot streak

March 15, 2019

Insurers sold indexed universal life insurance policies at record levels last year as consumers sought a measure of protection from stock market volatility and more insurers offered product. Indexed life insurance sales of $2.1 billion last...

Genworth move could signal big shift in distribution of long-term-care insurance

March 14, 2019

Genworth Financial Inc.'s recent decision to halt sales of individual long-term-care insurance policies through brokers and agents and just go directly to consumers could represent an emerging trend among insurers. Genworth, the largest long-term-care...

ACLI comes off bench to support legislation requiring employers offer access to retirement plans

March 12, 2019

The American Council of Life Insurers announced Tuesday it would back legislation to require employers to establish retirement savings plans for their workers. Rep. Richard Neal, D-Mass., previously sponsored bills that would have required companies...

Insurers create pain points for advisers and clients

February 21, 2019

The insurance industry hasn't done itself any favors when it comes to earning the trust of financial advisers and their clients. Insurers have repeatedly frustrated these stakeholders by making business decisions that are seemingly contrary...

Fixed annuity sales smash previous record

February 20, 2019

Annual sales of fixed annuities broke a record in 2018, as investors retreated from a volatile stock market and were lured by the larger payouts created by rising interest rates. Fixed annuity sales hit $132 billion last year, a 25% jump from...

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...

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...

Genworth diverts $327 million to shore up long-term-care insurance

February 6, 2019

Genworth Financial Inc., the largest long-term-care insurer by number of policyholders, diverted $327 million before taxes in the fourth quarter in order to shore up the reserves it uses to pay LTC insurance claims. The amount, which came to...

New York slaps MetLife with $19.75 million in penalties for heel-dragging

January 29, 2019

MetLife Insurance Company will pay a $19.75 million penalty for violating New York insurance law by failing to properly locate and pay benefits to thousands of insureds and beneficiaries in the state. As part of a consent order with the state's...

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...

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...

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...

Questions abound as Ohio National stops commission payments this week

December 11, 2018

Ohio National Financial Services Inc. is ceasing payment of advisers' variable annuity trail commissions Thursday, and advisers are left wondering how they're going to deal with the fallout. The insurer stunned the brokerage and insurance industries...

Indexed universal life insurance continues growth streak

December 3, 2018

Indexed universal life insurance sales are up double digits as market conditions drive the product line to its eighth consecutive quarter of growth in premiums, according to insurance industry group Limra. IUL sales rose 10% in the third quarter...

Annuity and mutual fund interests at odds over 401(k) disclosures

November 29, 2018

A fight is breaking out over retirement legislation that the U.S. Congress is trying to jam through before year's end, pitting insurance and mutual fund groups, as well as large 401(k) providers, against each other. The rancor concerns just...

NAIFA files suit against New York for mandating best-interest insurance sales

November 26, 2018

An insurance industry trade association has gone to court to stop a New York regulation requiring insurance agents and brokers to act in the best interests of their clients when selling life insurance and annuity products. The National Association...

Cetera broker-dealers latest to file legal claim against Ohio National

November 21, 2018

This story has been updated to include additional information not available when originally published. The six broker-dealers in the Cetera Financial Group network have filed arbitration claims against Ohio National Life Insurance Co. and affiliates,...

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