“This problem needs to be solved,” Dean McClelland, founder of TontineTrust, told RIJ. With the fervor of a convert, he believes that cryptocurrencies, blockchain, smart contracts and tontines are the solution.
'Insurers seem to be doing fine, but that is because they have been cutting benefits to the point that their customers will soon wonder why they bothered to take out policies in the first place,' writes our guest columnist.
Life insurers like to say that they have a monopoly on longevity risk mediation. Digital tontines could prove them wrong.
'Investment managers will be able to instantly distribute, receive, and process index data, resulting in better benchmark tracking and significant cost savings,' said a Vanguard principal.
Much of the surge in FIA sales is a result of an inadequate supply of attractive VA guarantees. 'Advisors are looking at new retirement income solutions,' said Cerulli director Donnie Ethier.
Spikes in house prices significantly increased homeowners' use of both paid home health care and unpaid informal care but did not increase the use of nursing home care, the researchers found.
Ameriprise Financial and Allianz, ranked eighth and ninth in quarterly sales, saw sales increases in 3Q2017. Thanks largely to its Index Advantage structured variable annuity, Allianz enjoyed a 26% increase in new sales from the previous quarter.
Fujitsu settles excessive fee case, Holland debates retirement age hike, T. Rowe Price enhances its financial wellness offerings, Quebec enriches mandatory defined contribution plans, CIT assets reach $2.8 trillion in US, and Wells Fargo surveys retirement optimism.