Annuity manufacturers and distributors went eyeball-to-eyeball at the Insured Retirement Institute's marketing conference in New York this week, where medical economist J.D. Kleinke (pictured here) was a featured speaker. Photo by IRI.
At the LIMRA-Society of Actuaries Retirement Industry Conference in Baltimore last week, Scott Stolz from Raymond James, Greg Jaeck from Edward Jones and Jarrod Fisher from Simplicity Financial Distributors delivered frank opinions about annuities and annuity issuers.
Many factors are driving the increase in indexed annuity sales: More manufacturers, better products, more distributors, competitive commissions, aging boomers, and relaxed regulation. But does the bubble contain the seeds of its own deflation?
Israel has found that even a mandatory defined contribution system can’t resolve all of the behavioral, economic, or administrative issues that prevent low-income and minority workers from saving for retirement. (Photo: Mahane Yehuda market in Jerusalem.)
Since current Wall Street risk management methods are in the interest of those who work on Wall Street, they will not be changed except by regulatory means.
"I'll-work-till-I-drop" is often the first, but rarely the most sensible, response to a setback in retirement savings.
FINRA and other SROs have “an incestuous relationship with the industry they are tasked with regulating," according to the Project on Government Oversight.
It's counter-productive to finance Medicare at our customers' expense, life insurance lobby tells Obama.
“The last time VA sales were at this level was in 2003, at the end of the last financial crisis,” said LIMRA's research director.
Obama wants to close the Medicare prescription drug 'donut hole' and regulate 'unreasonable' health insurance premium hikes.
Individual annuity gross sales for the fourth quarter were $4.8 billion, up from $2.2 billion a year ago.
Total fixed annuity sales were $105.1 billion in 2009, just 2% less than the record high in 2008.
“What's at stake here is consumer and investor confidence,” the commissioners wrote to Sens. Arlen Specter and Bob Casey Jr.
Allianz Life was the top-selling carrier in the quarter and for 2009, and its MasterDex X was the top-selling IA for the third quarter in a row.
A combination of S&P 500 growth and new contributions helped raise average Fidelity 401(k) balances 28% in 2009.
The BMW pension plan adds to the still-new use of longevity swaps to control risk.
With variable annuity sales down, firms are intensifying online product marketing campaigns to reach more prospective investors.