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.
We summarize four recent papers: 'Portfolios for Long-Term Investors,' 'What is the Value of Annuities?,' 'Public Economics and Inequality: Uncovering Our Social Nature,' and 'Financial and Total Wealth Inequality with Low Interest Rates.'
How will variable annuity contract owners use their income benefits? That question is vital to annuity issuers and to fiduciary advisers with clients who own VAs. This Texas Dep't of Insurance actuary knows a product that can help them find out.
Bloomberg reported this week that Prudential is considering selling its retirement plan recordkeeping business. Prudential didn't confirm the report, but several industry insiders did. Low interest rates, high costs of IT makeovers, and sticky stable value fund guarantees are driving the move, RIJ was told.
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.