Results for "variable annuities"

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Hurdles ahead for VA industry

September 13, 2009

The variable annuity industry is slowly recovering from last year's lumps, but Cathy Weatherford, president and chief executive of the Insured Retirement Institute, an industry trade group, foresees a new set of hurdles ahead as carriers contend...

Widow files arbitration claim against Ameriprise over VA sale to elderly spouse

August 26, 2009

A widow yesterday filed an arbitration claim with the Financial Industry Regulatory Authority Inc. against Ameriprise Financial Services Inc., alleging that a broker there failed to properly advise her aged husband on a variable annuity purchase...

Variable annuities sales show signs of life

August 25, 2009

Variable annuities, whose sales and asset levels slumped during the market downturn, showed signs of a comeback in the second quarter, according to data from the Insured Retirement Institute. Total sales of variable annuities hit $31.8 billion...

Individual and variable annuity sales tumbled in 2Q, LIMRA reports

August 24, 2009

Total individual-annuity sales tumbled during the second quarter as carriers’ new business slowed and fixed-annuity interest rates fell, although sales for all fixed annuities fared better, according to data from LIMRA Individual-annuity sales...

Moody's: VA issues weigh on some insurers

August 9, 2009

Although improving financial markets have helped lift some life insurance carriers, the firms still have a ways to go before they recover fully, according to a report from Moody's Investors Service. The equity markets' rally since March has...

Finra fines Ameritas, broker over 'unsuitable' variable universal life policies

August 6, 2009

The Financial Industry Regulatory Authority Inc. has slapped Ameritas Investment Corp. with a fine after one of its brokers encouraged clients to buy unsuitable variable universal life insurance policies to help pay for college costs and retirement....

Reborn NAVA will focus on advisers and consumers

July 26, 2009

In a dramatic re-branding, NAVA Inc., the trade group of variable annuity providers, last week changed its name to the Insured Retirement Institute and its focus to serving “the insured-retirement-strategies industry and consumers who rely...

Hancock Financial launches simplified variable annuity

June 1, 2009

John Hancock Financial Services today released a variable annuity called the John Hancock AnnuityNote. The product is a simplified A-share variable annuity with just one underlying diversified portfolio: a lifetime income benefit and a total...

Variable annuity net sales rise but assets fall in first quarter, NAVA reports

May 29, 2009

Variable annuity net sales rose nearly $1 billion from the fourth quarter of 2008 to the first quarter of 2009, according to a report released today by NAVA Inc., a Reston, Va.-based VA trade group. Net sales for the first quarter of 2009 were...

Fixed annuities again surpass VAs in sales

May 28, 2009

Fixed annuities continued to outsell their variable counterparts in the first quarter, according to data from LIMRA International Inc. of Windsor, Conn. For a second consecutive quarter, fixed annuities beat variable annuities, raking in $35.6...

MassMutual weighs future in VA marketplace

May 17, 2009

Following the departure of a major annuities expert and the elimination of some variable annuity riders, Massachusetts Mutual Life Insurance Co. is mulling the future of its role in the VA marketplace. “The challenge for the next few years,...

Fearing risk, insurers changes VAs to cut benefits and raise fees

May 10, 2009

Insurers are rolling out adjustments to their variable annuity products — this time with an air of caution. On May 1, the date that heralds a slew of final VA filings, carriers were as busy as they were last spring, before the market meltdown....

Variable annuity market needs help to grow, report says

April 29, 2009

In order to keep the individual annuity market alive amid economic turmoil, insurance companies will need to readjust their product risk, distribution and cost structures for the product, according to a report from Conning Research & Consulting....

Advisers create exit plans for underwater VAs

April 26, 2009

The term "bailout" has taken on new meaning for financial advisers as they devise ways to free clients from underperforming variable annuities, but the path to freedom is paved with possible tax complications and worries about account churning....

Advisers seek to skirt VA roadblocks

March 31, 2009

Advisers are being pelted with a dizzying array of new insurance products. But as quickly as products develop, so, too, do the challenges, which include evaluating carriers’ financial health and deciding which product might be favorable in...

Variable annuity sales plunged 30% in 4Q

March 19, 2009

Sales of variable annuities fell in the fourth quarter as premium flows hit $33.3 billion, according to data from NAVA Inc. That’s down 30.3% from the comparable period in 2007. Fourth-quarter net sales of variable annuities, which exclude...

Finra's VA suitability rule still sticks in B-Ds' craw

March 1, 2009

Fears of increased paperwork and disclosures related to Finra's variable annuity suitability rule have been realized, with many firms reporting that they are still overburdened by hair-splitting requirements. Last May, the New York- and Washington-based...

NAVA marketing conference notebook

March 1, 2009

Panelists addressed myriad issues at the annual marketing conference held in New York by NAVA Inc., the Reston, Va.-based variable annuity trade association. RATINGS CONCERNS During one session, Doug Meyer, managing director of U.S. life operations...

Despite problems, advisers are upbeat about VAs

February 22, 2009

Advisers may complain about variable annuities, but most still endorse the product. According to an InvestmentNews online survey conducted Jan. 29 to Feb. 17, more than 68% of 1,851 advisers polled said they were currently recommending VAs to...

Eric R. Dinallo

February 22, 2009

As this year's returning chairman of the NAIC's Life Insurance and Annuities (A) Committee, Eric R. Dinallo's priorities are making sure that consumers are protected while helping carriers steer a course through choppy economic waters. This...

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