Until April 6, most Britons bought annuities with their DC savings. Now they can do as they wish with those ‘pension pots.’ BlackRock and AllianceBernstein see opportunity.
RIJ spoke with annuity manufacturers and distributors about their strategies for selling qualified longevity annuity contracts, which are deferred income annuities for IRA money. The favorite, but not unanimous, strategy is to emphasize reductions in RMDs.
The 'Tax-Free Ninja' is Eric Estrada, a marketer at a Houston-based insurance wholesaler. He's one of the young, social-media savvy entrepreneurs who are enthusiastic about the potential for selling Qualifying Longevity Annuity Contracts (QLACs).
Fixed indexed annuities will “increase their dominant position in the individual U.S. annuity market” and “approach variable annuity sales levels over the next five years,” predicted actuary Tim Pfeifer at the Retirement Industry Conference in Arlington, Va., last week.
Retirees might be more willing to buy a life annuity if it’s part of a plan that also includes whole life insurance, says retirement guru Wade Pfau in a paper written for OneAmerica.
What will retirement advice look like in the future: Will advisers use the digital advisory channel, or will the digital advisory channel use them? A new report from Celent dives into this issue, and provides a map of the brave new distribution world.
'For more than a 15-year period, Nationwide intentionally delayed the delivery of untracked mail containing orders from customers and processed them at the next day’s prices in violation of the law,' an SEC official said.
'In an environment of low interest rates and low industry premium growth, those with substantial cashflow may find they have little other choice of deploying that capital besides returning it to shareholders,' an A.M. Best analyst wrote.