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A National Association of Insurance Commissioners working group wants to “enhance consumer understanding” with a proposed two-page summary to accompany life insurance illustrations. The group is making slow progress on the proposal, with a few issues remaining to work out.
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Boosting the numbers of advisors and improving the productivity of those already serving the group retirement market is a big priority for AXA Equitable, the company says.
There are a huge number of “unscheduled” loans that go mostly unnoticed until they become a threat to the policy or an unwelcome tax problem for the insured. These present a clear opportunity not only to help clients, but also to create new commissionable sales.
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United of Omaha, a Mutual of Omaha company, has introduced a new product to help meet customers' long-term care planning needs. Since 1987, traditional long-term care insurance has been- and continues to be- a core product for Mutual of Omaha.
Jackson National Life Insurance Company ® generated a record $1.4 billion in IFRS pre-tax operating income during the first half of 2018, an increase of 0.8 percent over the first half of 2017. Jackson, an indirect wholly owned subsidiary of the United Kingdom’ s Prudential plc, recorded sales and deposits of $11.2 billion in the first half of the year, and...
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Braintree, MA. (August 8, 2018) — U.S. life insurance application activity grew slightly in June up 0.7% year-over-year, according to...
Insurers report ups and downs in second-quarter earnings reports, with Brighthouse Financial reporting a loss. Meanwhile, long-term care policies continue to create plenty of headaches for insurers such as CNO Financial and Prudential.
The post 2Q Roundup: Brighthouse Posts Loss; Insurers Face LTC Pain appeared first on InsuranceNewsNet.
New York and California insurance officials signal a steadfast willingness to fight for life insurance to be included in any NAIC annuity best-interest rule.
The post Showdown Looms Over NY Push To Add Life Insurance To NAIC Rule appeared first on InsuranceNewsNet.
Universal life products are hot and insurers are wasting no time tweaking their product offerings to take advantage of a fast-selling segment. First-quarter sales of indexed universal life rose 12 percent to $486 million compared to the year-ago period.
The post Carriers Reshape Indexed UL While Variable UL Sales Heat Up appeared first on InsuranceNewsNet.
MetLife and Genworth had different challenges to overcome in the second quarter. Metlife dumped its remaining stake in Brighthouse Financial for a loss of $212 million, which pushed down earnings.
As Announced On June 9, 2018, The Committee On Foreign Investment In The United States Completed Its Review Of The Proposed Transaction Between Genworth And China Oceanwide Holdings Group Co., Ltd And Concluded That There Are No Unresolved National Security Concerns U.S. Mortgage Insurance Adjusted Operating Income Of $137 Million Which Included A...
The life insurance industry has shown relatively steady sales over the past decade, but the number of policies and resulting market penetration are in decline, according to a new study by Conning.
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For a client in need of life insurance coverage, permanent life insurance can help address several crucial concerns by bridging the gap between their retirement savings and their retirement income goals.
A federal appeals court upheld a ruling that the illustrations of the policy charges and interest rates were not deceptive, but left open the question of whether the challenged practices were unlawful or unfair.
The post Although Largely Deflated, IUL Illustration Statute Lawsuit Rolls On appeared first on InsuranceNewsNet.
Several big-name insurers recently completed, or broke ground, on new construction projects for splashy new office spaces. While life insurance sales remain flat, the infrastructure investment reflects executive-level confidence that the economy is bright for insurance products overall.
Washington, D.C. – Citing both continued issues of inequality in the insurance industry and the potential to create unprecedented opportunities...
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BOSTON – Kanawha Insurance Company has agreed to pay $88,000, most of which will go directly to affected Massachusetts consumers,...
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Why the life insurance industry must provide senior policyholders with information on exploring alternatives to surrendering or lapsing a policy they no longer need or want. Sixty-seven percent of consumers are interested in more transparent life insurance buying options.
The post Commentary: The Case For Transparency In Life Insurance appeared first on InsuranceNewsNet.
HOUSTON - New research announced by American International Group, Inc. (NYSE: AIG) reveals that consumers who do not have life...
The post Research Shows Americans Without Life Insurance Not Taking Action To Reduce Financial Risks appeared first on InsuranceNewsNet.
New York finalized its best-interest standard for annuity and life insurance sales this week. The rules have industry officials concerned that a 'patchwork' of different rules across different states could make cross-state sales a nightmare of paperwork.
The post New York Delivers ‘Worst Fears’ With Tough Reg For Life Insurance appeared first on InsuranceNewsNet.
Commentary By Erica Davis There are several semi-famous authors and media personalities who push their financial advice to the masses,...
The post The Term/Perm Life Insurance Debate Riddled With Fallacies appeared first on InsuranceNewsNet.
Commentary By John Hutchinson I'm often asked the question, “Who is the ideal candidate for indexed universal life and why?”...
PARK RIDGE, Ill. — Human trafficking and slavery is a global issue, with an estimated 20 - 40 million people...
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Why private placement programs have become a favorite strategy among ultra-wealthy investors.
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Final expense life insurance new annualized premium increased 4 percent in 2017, compared with 2016 results, according to a new...
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PARK RIDGE, Ill. (June 27, 2018) — More than 15,000 members from 53 countries attended the MDRT Annual Meeting this...
While some companies are moving away from annuities, Prudential is redoubling its efforts. That means new products and new campaigns to educate advisors and consumers on what annuities can do for lifetime income, a company executive explained.
Futurity First Insurance Group – an independent, nationwide insurance distribution organization that specializes in retirement income and insurance protection solutions with $222 million in client assets – has joined Securities America, an independent advisory and brokerage firm.
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Total new premium for life combination products (which combine life insurance with long-term care or chronic illness coverage) increased 18 percent to $4.1 billion in 2017, according to LIMRA’s 2017 Individual Life Combination Products Annual Review. This is the third consecutive year of premium growth.
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Insurance companies are adding illness and long-term care features into indexed universal life products. The new features are expected to boost an already-booming business.
June 13-- BLOOMINGTON-- After a year of radical change at State Farm, the chairman of the board remains the same with President and CEO Michael Tipsord re-elected to the post this week. Others serving on the board, whose terms were not up for re-election this year, are: Christopher C. DeMuth, distinguished fellow, Hudson Institute; W. Steven Jones, professor of...
The Committee on Foreign Investment in the United States (CFIUS) has completed its review of the proposed takeover of Genworth by a Chinese financial holding group and concluded that there are no unresolved national security concerns with respect to the proposed transaction. This satisfies one of the conditions to the closing of the proposed transaction.
The post Genworth, China Oceanwide Deal Moves Closer To Finalization appeared first on InsuranceNewsNet.
Variable universal life used to be a hot product line but their sales dipped around 2000 and had not recovered since. But lately they are showing some signs of life.
Non-variable universal life sales for the first quarter were over $936.3 million; down 12.7% when compared to the previous quarter...
Universal life sales fell 19 percent in the first quarter compared to the first quarter of last year. Not even white-hot indexed UL sales could lift the segment.
Kansas City Life will acquire all of the issued and outstanding stock of Grange Life Insurance Company from Grange Mutual. The transaction is subject to review by the Ohio Department of Insurance.
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Securian has tweaked its SecureCare linked-benefit life and long-term care contract to give the product more flexibility in a growing...
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KANSAS CITY -- Things started hot at the National Association of Insurance Commissioners' working group meeting today as members immediately...
The post NAIC ‘Not Supposed To Be A Dictatorship,’ NY Commissioner Says appeared first on InsuranceNewsNet.
TOKYO and SPRINGFIELD, Mass., May 31, 2018/ PRNewswire/-- MassMutual International LLC– Massachusetts Mutual Life Insurance Company's international insurance holding company– and Nippon Life Insurance Co., Japan's leading life insurer, today announced the completion of the sale of 85.1 percent of MassMutual Japan, MassMutual International's wholly owned...
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At the annual meeting of shareholders today, Unum Group President and CEO Richard P. McKenney addressed the company’ s strong performance, customer focus, and the growing need for the financial protection Unum provides. In 2017, Unum had record revenues of $11.3 billion and paid nearly $7 billion in benefits. Also at today’ s meeting, among other voting items, Unum...
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May 23-- If you don't know what Securian does, chances are that you will soon. Securian has $1.2 trillion of active life-insurance policies, $79 billion in assets under management, and 19 million customers in North America. Beginning Wednesday, Securian will launch its first national advertising campaign, with ads that range in length from six to 60 seconds.
The post What Is Securian? A Quiet Company Making Noise On The Fortune 500 appeared first on InsuranceNewsNet.
A Morgan Stanley analyst's report sees significant strain on the life insurance industry, much of it from long-term care insurance. The report points to rising interest rates and the nearly dead Department of Labor fiduciary rule.
ST. PAUL, Minn.--(BUSINESS WIRE)--Families that feel confident with their finances can more easily enjoy the here and now, making life’s...