Results for "life insurance"

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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,...

Ohio National lays off chief distribution officer; president retires after three months on the job

November 20, 2018

Ohio National Financial Services Inc. laid off its chief distribution officer, H. Douglas Cooke, at the same time that president and chief operating officer Christopher Carlson has decided to retire, three months after being promoted. The executive...

Private equity eyes long-term care insurance

November 16, 2018

Private-equity investors are eyeing insurers' long-term-care business with increasing fervor, according to insurance executives and analysts, which could present problems for financial advisers whose clients hold affected policies. "A lot of...

Ohio National stokes adviser fears over annuity trail compensation

October 23, 2018

It's been a few weeks since Ohio National Financial Services Inc.'s bombshell announcement around annuity trail compensation, and financial advisers are still trying to make sense of its implications for them and the broader industry. One question...

Transamerica pays $195 million to settle lawsuit over universal life insurance

October 4, 2018

Transamerica Life Insurance Co. will pay $195 million to settle a class-action lawsuit alleging the company improperly increased the monthly charges on 70,000 universal life insurance policies. According to Harvey Rosenfield, an attorney with...

John Hancock testing wellness programs for long-term-care policyholders

September 28, 2018

John Hancock Life Insurance Co. plans to try out a number of wellness programs on some of its long-term-care insurance policyholders, which experts say would both help clients live longer, healthier lives and possibly provide an economic prop...

Indexed annuity sales grow among wirehouses, independent broker-dealers

September 20, 2018

Wirehouses and independent broker-dealers have upped their sales of indexed annuities over the past few years, with a greater share of product sales coming through registered representatives at brokerage firms. There are a number of reasons...

Universal life insurance lawsuits underscore product risk

September 19, 2018

Lawsuits filed against insurers in recent years for their practices around universal life insurance policies highlight the risks these products can pose to unwary financial advisers and clients. Transamerica Life Insurance Co., AXA Equitable...

Western & Southern buys Gerber Life Insurance in $1.55 billion deal

September 18, 2018

Western & Southern Financial Group has bought Gerber Life Insurance Co., a subsidiary of Nestlé, in a deal valued at $1.55 billion. Gerber Life, a direct-to-consumer life insurer, has $52 billion of life insurance in force and covers 3.6 million...

Life insurance is not for saving

September 11, 2018

Stop buying life insurance as a savings strategy. Stop buying it as a tax-deferral vehicle for retirement savings. Stop spending thousands of dollars a month on life insurance premiums, at least until you read the rest of this column. Life insurance...

DOL fiduciary rule caused $14 billion in stock losses for investment firms: report

September 5, 2018

The Department of Labor's fiduciary rule led to "tremendous" losses for brokerage and other investment firms, causing billions of dollars to be shed from their market valuations as investors feared the rule would hurt profitability, according...

Brokers, advisers and insurance agents implicated in alleged $100 million investment fraud

August 23, 2018

Dozens of financial intermediaries — including stockbrokers, financial advisers, financial planners and insurance agents — are being sued for an alleged investment fraud that attorneys claim cost more than 1,000 investors, many of whom were...

Annuity rule likely won't include a fiduciary standard, NAIC says

July 24, 2018

The National Association of Insurance Commissioners indicated it would not impose a fiduciary standard on insurers and insurance producers as part of its overhaul of annuity sales rules, according to draft language of the group's model regulation...

New York issues final best-interest regulation for annuity, life insurance sales

July 18, 2018

New York issued a final regulation Wednesday that would raise the standard of care for sales of life insurance and annuities. The measure would require insurers to establish policies and procedures that ensure agents and brokers put the interests...

Alphabet soup is hot, and clients will pay more for those letters

July 16, 2018

Say what you will about the expansive alphabet soup of financial-planning credentials and designations, but new research shows consumers are migrating toward those advisers with letters listed after their names. "We found that consumers value...

Why the super wealthy may want to fund life insurance with a loan

June 22, 2018

Wealthy clients looking to use life insurance in their estate plans may find that funding their policies with a loan makes sense, especially as interest rates are still relatively low. The goal is to exploit low interest rates to get a cheap...

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