Results for "variable annuities"
Displaying 448 results
Decision in AXA excessive-fee lawsuit preserves the status quo
August 31, 2016
A judge's recent decision favoring AXA Equitable Life Insurance Co. in a lawsuit over excessive mutual fund fees in variable annuities was a win of sorts for insurance companies, in that it upholds a traditional structure of offering investment...
How insurers are losing when it comes to variable annuities
August 30, 2016
Variable annuity sales have been on a steady decline the last several years, with market volatility, growing popularity of indexed annuities and a looming Labor Department regulation being primary contributors. But insurance companies have also...
MetLife VAs flounder as Fidelity halts sales
August 10, 2016
MetLife Inc.'s retail variable annuity sales slumped nearly 40% in the second quarter versus the same time period in 2015, following a decision by Fidelity Investments earlier this year to suspend sales of the insurer's VA products. A drop of...
Indexed annuity sales projected to plummet 30% because of DOL fiduciary rule
August 2, 2016
Fixed indexed annuity sales are projected to decline 30% to 35% next year due to a new Labor Department rule raising investment advice in retirement accounts, according to Limra, signaling the disruptive power the regulation will have on insurance...
Jackson National, Prudential cease sale of some L-share variable annuities
July 28, 2016
Two of the largest variable annuity product manufacturers are ceasing the sale of some L-share VAs, which have attracted the watchful eye of regulators and whose suitability has been further questioned given new Labor Department regulations...
Prudential fined $950,000 for failures in elderly customer's variable annuity account
July 19, 2016
Finra has fined Prudential Annuities Distributors Inc., a unit of Prudential Financial Inc., $950,000 for supervisory lapses in an elderly customer's variable annuity account in which a rogue broker stole more than $1 million. The Financial...
Insurers developing fee-based fixed-indexed annuities post-DOL fiduciary rule
July 14, 2016
Insurance companies are going full steam ahead developing fee-based fixed-indexed annuities due to greater anticipated demand from distributors for advisory products as a result of the Labor Department's fiduciary rule. Allianz Life Insurance...
Finra bans former Prudential broker for deceptive variable annuity sales
July 11, 2016
The Financial Industry Regulatory Authority Inc. has banned a broker from the securities industry for making unsuitable variable annuity recommendations while employed at Prudential Financial Inc. and MetLife Inc. Winston Wade Turner deceived...
Insurance-based broker-dealers plan to use BICE under DOL fiduciary rule
July 7, 2016
Insurance companies with affiliated broker-dealer networks are slowly coming out of their hibernation phase that followed release of the Labor Department's final fiduciary rule in early April, with some announcing plans to comply with portions...
Variable annuity sales drop to lowest level in 15 years: LIMRA
May 20, 2016
Sales of variable annuities plunged to their lowest level in 15 years last quarter as the Labor Department's fiduciary rule loomed large and market volatility scared consumers away from equity-based products. Variable annuity sales were $26.6...
The DOL fiduciary rule will forever change financial advice, and the industry has to adapt
May 9, 2016
Americans won hard-fought protections regarding the purity of their retirement advice last month. Now it's up to the nation's financial advisers to decide whether they'll meet the letter — and spirit — of the historic investor protection...
MetLife penalty puts spotlight on bad variable annuity switches
May 8, 2016
No wonder MetLife Inc. wanted to get out of the securities business. Along with the new Department of Labor fiduciary rule making it more difficult and costly to work with clients' retirement accounts, the giant insurer's retail securities house,...
Variable and fixed-indexed annuities feel sting of DOL fiduciary rule
April 6, 2016
Those who thought fixed indexed annuities would be a benefactor of the Labor Department's fiduciary rule may want to think again. The Department of Labor dealt a bit of a surprise blow to fixed indexed annuities in the final iteration of its...
Meet the annuity 'robo' looking to undercut insurance agents
April 1, 2016
Websites like Orbitz, Priceline and Expedia helped do-it-yourself-minded travelers undercut travel agents, putting price and value comparison at the hands of the consumer right in their own home. Sign onto a computer or mobile device, fire up...
The DOL fiduciary rule could push these firms' variable annuity sales even lower
March 31, 2016
Many of the top variable annuity companies saw sales figures drop off last year, and the pain is only expected to continue, or even accelerate, this year given the Labor Department's looming fiduciary rule, market volatility and cannibalization...
Former MetLife, Prudential broker accused of deceptive variable annuity sales practices
March 1, 2016
The Financial Industry Regulatory Authority Inc. has accused a former MetLife Inc. and Prudential Financial Inc. broker of harmful and deceptive sales practices relating to variable annuities. Winston Wade Turner, formerly a registered representative...
MassMutual enters long-term distribution deal for MetLife fixed indexed annuities
February 29, 2016
Massachusetts Mutual Life Insurance Co. has entered a long-term distribution deal with MetLife Inc. whereby it will exclusively sell fixed indexed annuities manufactured by MetLife. The deal is part of a broader deal announced Feb. 29 between...
Commonwealth ceases sale of some variable annuities
February 25, 2016
Commonwealth Financial Network is restricting the sale of “L share” variable annuities, due to mounting concern from regulators and the broader insurance market for characteristics associated with these specific types of annuity contracts....
Why indexed annuities eventually could outsell the variable variety
February 21, 2016
Toward the end of January, the Raymond James fixed and indexed annuity team met with one of our insurance partners to discuss possible future product designs and the indexed annuity market overall. I opined at the time that it would not surprise...
DOL fiduciary rule will transform the annuity industry
February 21, 2016
If the Labor Department has its way, say goodbye to the variable annuity industry as we know it. The department's pending fiduciary rule, if finalized in its proposed form, would have profound effects on variable annuities sold in retail retirement...
