Here's how the wealthy buy lifetime income while giving zip to insurance companies, a pittance to the IRS and--unless they live a very long time--a sizable gift to charity.
In this last article in our series on fixed indexed annuities, we consider the potential role of FIAs in providing retirees with guaranteed lifetime income. We find FIAs to be valuable, but underused for that purpose.
FIA owners can pick from an array of choices as cryptic as those on a roulette table. But if they don't understand options, how can they evaluate these safe but esoteric insurance products?
In this second article in a four-part series on the fixed index annuity (FIA) business, we profile Allianz Life, the top issuer of FIAs in the US in 18 of the last 19 years. (Image, in Allianz blue, is from an Allianz Life video.)
Cerulli predicts the direct market will grow to close to $5 trillion and will control close to 10% of retail managed accounts assets by 2014, equating to $380 billion.
Advisors say that clients’ return expectations for 2012 are slightly higher than their own: 4.3% for a conservative portfolio, 6.5% for a balanced one and 9.3% for an aggressive one.
“Financial advisors can expect significant technological and operational challenges to adhere to any new fiduciary standards,” said a co-author of a new whitepaper.
The total millionaire population in the U.S. has climbed to 8.6 million households, but remains below the pre-recession high in 2007 of 9.2 million.
The Hartford will place its individual annuity business into run-off effective April 27, 2012, A.M. Best said, and is pursuing other options for certain product lines within its Wealth Management segment, including sales or other strategic alternatives.
This economist at the New School argues that, rather than curtailing public and private pensions, New York and other states could save millions of workers from impending poverty by creating public pensions for everyone.
This year’s spring conference, held again at Morningstar headquarters in downtown Chicago, may have been RIIA's most substantive, timely and productive to date.