After my father died, I called his reverse mortgage lender and said the house was theirs. Little did I know that I'd get "sued," that the house had to go through foreclosure and that the process would take over a year. There has to be a better way.
Here's an income plan for a hypothetical 65-year-old couple with $1.6 million in savings, a real income goal of $8,000/mo. in retirement, and a legacy goal of $1.5 million.
CUNA Mutual Group invades Allianz Life airspace by launching 'Zone Income Annuity.' It's the only structured index annuity besides Allianz Life's Index Advantage Income to offer a lifetime income option. The two contracts differ in small but significant ways.
The president of Prudential Annuities since 2017, actuary Kent Sluyter spoke with RIJ recently about financial wellness and about his firm's pivot to a new generation of individual annuities.
Andrew Rudd, the co-founder of Barra, Inc. (now the MSCI Barra suite of portfolio analysis tools) started Advisor Software Inc. in 1995 to adapt Barra technology for adviser use. "I was always interested in creating products," says the British-born Californian..
In the latest iteration of Prudential's Highest Daily guaranteed lifetime withdrawal rider, contract owners must put 10% of premium into a fixed-rate fund. Like its predecessors, this version of the rider employs an automatic modified CPPI risk management system.
"If manufacturers can be more dynamic in reacting to changing conditions they don't have to set prices as conservatively. That should benefit investors," said a competitor about Prudential's ability to change VA GLWB roll-up and payout rates as often as monthly.
The most common reason among plan sponsors for not offering retirement income options was concern about fiduciary implications
With $74.7 billion, Vanguard added the most of net inflows of any mutual fund manager. Dimensional Fund Advisors followed with $22.5 billion, J.P. Morgan with $21 billion, MFS with $18 billion and and Oppenheimer Funds with $16.1 billion.
Brief or late-breaking items from ING U.S. (Voya), MassMutual Retirement Services, Securian, New York Life and MetLife.