Lawsuits filed in Rhode Island, New York and Illinois shed light on the sinister, multi-million-dollar strategy of using the dying as fronts to exploit variable annuity loopholes.
Solash, who leads AIG's Individual Retirement business, spoke with us about the company's approach to the annuity market. The NAIC recently reported AIG's overall Life and Retirement businesses as having an industry-leading $18.4 billion in sales.
In retirement, "risk" can turn from an object of pursuit to an object of avoidance. In the second installment of a two-part article, our guest columnist continues his discussion of financial and other risks that retirees and advisors should anticipate.
In the first of a two-article series, the retirement expert, author and editor enumerates and describes the many risks that retirees face. (Spoiler alert: Mortality is not one of them.)
Rhode Island attorney Robert Flanders said "stranger-originated annuity transactions" are perfectly legal.
Identity theft does not begin to describe the harm done to a quadriplegic woman who died of bedsores in a Chicago nursing home.
Jack Marrion predicts that by 2020 the securities industry will exercise control over the annuity market in the U.S.
“There have been only two times in the last five years where we have seen bank channel total annuity sales this low,” said Kehrer-LIMRA's research director.
The modified funds will “dynamically de-risk into bonds and cash when it's appropriate” to reduce overall portfolio risk.
Many advisors feel a need to change their approach but are uncertain how to go about it.
The "Growth and Income Advantage Benefit" rider now has a 6% annual roll-up and a maximum 5% annual payout.
We erred in reporting that “When a husband in a retired couple (both at least age 62) dies, his widow's Social Security benefit, if lower, rises to match his own.”
"Academics continue to create analytical solutions that rarely apply in the human world," says this Denver advisor.