Results for "variable annuities"

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Five brokers lose Ohio National lawsuit over annuity commissions

November 22, 2019

A group of five brokers lost a lawsuit against Ohio National Life Insurance Co. over the insurer's termination of commission payments for certain variable annuity policies. Judge Emily C. Marks of U.S. District Court in Alabama dismissed all...

Complaint claims Ohio National poses 'danger' due to its 'illegal' activity

November 18, 2019

An insurance agent filed a complaint Friday with the Ohio Department of Insurance against Ohio National Life Insurance Co., alleging that the insurer's treatment of a customer's insurance premiums broke the law and that three senior executives...

Buffer annuities push variable annuity sales to three-year high in Q3

November 19, 2019

Variable annuity sales hit a three-year high in the third quarter, a notable turnaround from their slump in recent years that largely reflects the growing sales of buffer annuities. Buffer annuities, a subset of variable annuities, are also...

Why are fixed indexed annuities primed for growth?

October 16, 2019

Fixed indexed annuities, also referred to as equity indexed annuities, have been a hot button issue for decades now. But FIAs have also been widely misunderstood by investors, advisers and regulators, often being confused with variable annuities....

What's driving growth in the fixed indexed annuity market?

September 23, 2019

The U.S. annuity market underwent a significant shift following the Great Recession. Prior to the economic crash, variable annuity sales propelled growth in the annuity market, accounting for over 70% of the $265 billion in annuity sales in...

Lessons for those 'graduating' to retirement

June 13, 2019

To those newly retired, I offer my congratulations. Those of us who provide financial guidance to this growing segment of consumers know that this is a critical time and a major transition in the lives of people who have worked hard throughout...

Ironic twist in the Ohio National annuity saga

January 11, 2019

The months-long feud between Ohio National and financial advisers has taken a strange and ironic twist. The latest perplexity involves a recent notice sent to some annuity clients of Ohio National, which stunned the brokerage industry in September...

Prudential reverses variable annuity suspension in New York

October 4, 2019

Prudential Financial Inc. will reintroduce its fee-based variable annuities in New York, following a suspension of its product sales a few months ago in connection with the state's new best-interest rule for annuity and life insurance sales....

LPL, Triad brokers lose Ohio National lawsuit over variable annuity commissions

October 4, 2019

Brokers affiliated with LPL Financial and Triad Advisors have lost separate lawsuits against Ohio National Life Insurance Co. that sought to overturn the insurer's decision to stop paying variable annuity commissions. Concurrently, however,...

Why your 50-year-old clients may need you the most

August 22, 2018

Clients who are 10 to 15 years away from retirement need you. They're likely getting more concerned about market volatility and its impact on their savings, but at the same time they're more aware than ever that they need their nest egg to grow...

Judge rejects Ohio National motion to throw out case involving variable annuity commissions

July 1, 2019

A broker of LPL Financial Inc. has won an important round of legal sparring with Ohio National Life Insurance Co., with a judge ruling that the broker's class-action lawsuit over variable annuity trail commissions should move forward. U.S. magistrate...

Income annuities provide retirees longevity protection

September 28, 2019

Though the discussion in this chapter could be applied to any annuity offering lifetime income benefits, the focus for now returns to income annuities to keep the discussion more manageable. Previous chapters have introduced the role annuities...

Readers weigh in on annuity buyout offer

January 23, 2019

As a nation, we have become accustomed to divided politics. As a financial planning community, we have our own version of contentious issues, and one of those hot-button issues involves variable annuities. When I asked InvestmentNews readers...

Anger over Ohio National's attack on VA contracts

November 30, 2018

I am angry and appalled by Ohio National Financial Services' announcement that it will terminate the trailing commissions on existing variable annuity contracts with guaranteed income benefits. Talk about changing the rules in the middle of...

IRS delivers 'game changer' for fee-based annuities

August 9, 2019

The Internal Revenue Service has issued a tax ruling that may quickly boost the use of annuities by registered investment advisers with clients, by knocking down what many saw as the primary road block to their uptake. The IRS furnished a private...

Jackson National to reintroduce fee-based annuities in New York

September 16, 2019

Jackson National Life Insurance Co. plans to reintroduce fee-based annuities in New York, weeks after the company suspended sales due to concerns about an insurance regulation that took effect in the state. Jackson, which is the second-largest...

LPL broker sues Ohio National for 'unlawful' move on variable annuity compensation

November 6, 2018

A broker with LPL Financial has filed a class-action lawsuit against Ohio National Life Insurance Co. and two affiliates for the allegedly unlawful termination of trail commissions on certain variable annuity policies. Ohio National stunned...

Voya Financial Advisors settles with more than a dozen clients of former broker

September 27, 2019

Voya Financial Advisors Inc. is cleaning up the mess a former broker created by investing clients heavily in nontraded real estate investment trusts and variable annuities. The ex-broker, James T. Flynn, was registered with Voya Financial Advisors...

The leading variable annuities with living benefits

February 22, 2015

Carrier Benefit 65 Year old with a 10 year waiting period (first withdrawal at age 75) Roll-Up info Step-up info Applicable Withdrawal Percentage Annual Withdrawal Amount Current Fee Amount Fixed % Increase Simple/ Compound Highest Anniv. Value...

Lincoln, other insurers likely to backtrack on New York annuity pullback

September 12, 2019

Lincoln Financial Group and other insurance companies that pulled some annuities from the New York market in the wake of a new state regulatory requirement will likely reintroduce the products in coming weeks, now that the New York Department...

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