At the Insured Retirement Industry's marketing conference in Orlando this week, speakers from AXA, Brighthouse Financial (formerly MetLife’s retail division), Great-West Financial, Jackson National Life, and New York Life described their companies' strategies in difficult times.
'Even though there is not a clear conflict among the Circuits, this case will likely be heard by the Supreme Court,' said ERISA attorney Marcia Wagner after judges in two federal appeals courts ruled differently on challenges to the DOL fiduciary rule.
An indirect wholly owned subsidiary of Britain’s Prudential plc, Jackson recorded sales and deposits of $21.4 billion in 2017. The insurer recently announced that it would close its Denver facility and shift those operations to Nashville.
People who don’t plan to use their deferred annuities for lifetime income should consider using exchanging their contracts for a hybrid annuity with a long-term care rider, an issuer of those hybrids suggests.
In my opinion, allowing IRA rollover money to escape the protections and restrictions that govern 401(k) plans will eventually nullify the federal government’s rationale for tax deferral—a benefit that the financial services industry, ironically, wants badly to protect.
'Conventional wisdom has most investors de-risking their portfolios by allocating more heavily to bonds as they approach retirement," Ibbotson said. 'Investors should consider other alternatives such as FIAs.'
'Insurers actively exited underperforming lines and entered specialty segments offering healthier growth and margin prospects,' said a Conning analyst.
Jerry Patterson will succeed the retiring Greg Burrows as head of the Principal's full service retirement and individual investor businesses.