Results for "life insurance"

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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...

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...

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...

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...

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...

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...

The magic in talking about cost

April 9, 2018

I recognize there can be a natural hesitation in talking about fees and costs in the financial services business. After all, talking about costs puts costs front and center in the mind of a client, which in turn places front and center the risk...

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...

Life insurance 'advice' in an era of fake news

February 14, 2018

Fake news is an opinion presented as if it were fact. It's driven by both the high demand for content to fill the 24-hour news cycle on hundreds of cable channels and the supply of content from anyone with an opinion they can present in a blog...

SEC charges insurance agent with $1.27 million Ponzi scheme

June 22, 2018

The Securities and Exchange Commission has charged James Hocker, a Bellefonte, Penn., insurance agent, with engaging in a Ponzi scheme that targeted unsophisticated retail investors. After selling insurance policies, according to the SEC's complaint,...

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...

Don't forget secondary market for life insurance

October 24, 2017

With many Americans struggling to meet their retirement income needs, it is unfortunate that valuable assets may not be properly utilized in retirement planning. Assets like home equity and life insurance are often neglected in the planning...

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...

Private placement life insurance: A primer

October 27, 2017

For the past several years some hedge funds have not met the expectations of investors. As a result, RIAs and wealth managers have recommended other investment options such as direct lending, private equity credit and mezzanine funds which in...

Fill the Gaps of Special Needs Financial Planning

October 16, 2017

Across the United States, one in five children and adults — 65 million people — will experience a special need or disability during their lifetimes.1 Without assistance from government programs, non-profit organizations or employers, caregivers...

How to define yourself as a life insurance adviser

April 7, 2017

Over the course of my career, I learned that if I didn't define myself, then I was defined by what others said about me. Life insurance advisers distinguish themselves as advisers by first defining their role and responsibilities on the planning...

Technology is streamlining the process of issuing life insurance policies

January 10, 2018

Life insurance is undergoing a renaissance of sorts. The industry is slowly transforming from one entrenched in the old-age archaism of paper and manual processes to one embracing digital technology and artificial intelligence, which benefits...

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...

Top 20 life insurance firms ranked by direct premiums, market share

September 18, 2016

Life insurance companies ranked by direct premiums Company 2015 total direct premiums ($M) Market share 1 MetLife $12,530.1 8.14% 2 Northwestern Mutual $10,089.5 6.55% 3 New York Life $8,740.2 5.68% 4 Purdential of America $8,593.8 5.58% 5 Lincoln...

How much life and disability is enough?

June 11, 2017

Veronica is a 33-year-old professional with a family, earning $150,000 a year. If she works until 75, she'll earn between $13 million and $20 million over 42 years (with 3% to 5% average annual increases). Veronica's human life value will be...

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