Sales of income annuities may soon breach the $10 billion-a-year barrier. We talked to the Numbers 2 through 5 SPIA sellers in the U.S.: MetLife, MassMutual, Pacific Life (whose symbol is the humpback whale), and Nationwide.
'Many of the decisions presented here are beyond the skills of most pre-retirees and retirees,' writes the author, a research scholar at the Stanford Center on Longevity. 'They’re going to need help.'
Bond mavens, check this out. A new SEC report describes how most of the $54-trillion dollar U.S. credit market survived last spring's financial crisis. It covers securitized 'leveraged loans,' which provide high-octane fuel for fixed indexed annuity issuers.
'Insurers can't remain wedded to product sales, which are becoming commoditized in a future that trends toward financial advice,' says industry veteran Michelle Richter, who just launched Fiduciary Insurance Services, LLC.
Guest columnist Smorenberg, chairman of the World Pension Summit, says that we should all--individuals, companies and institutions--be planning for a standard retirement age of 70.
Sun Life’s brand will be featured throughout the Courtside Club, including entry and directional signage, as well as on staff uniforms and courtside tickets and passes required for club admission.
“Although life expectancy is increasing, healthy life expectancy is flat-lining,” said Vince Smith-Hughes, a retirement expert at Prudential plc.
Brief or late-breaking items from Putnam Investments, Nationwide, Allianz Life, and the SPARK Institute.
“Separate accounts investing in bonds and foreign equities attracted $59 billion and $16 billion, respectively, in the first quarter. In contrast, $48.5 billion flowed out of U.S. equity separate accounts in that period,” said TrimTabs' Minyi Chen.
The California Senate is considering a bill that would open the state's pension to small-business employees who don't have access to an employer-sponsored plan.
On a trip out west, I tried my luck at fly-fishing (again) and watched "The Best Exotic Marigold Hotel." It's all about the retirement financing crisis, British edition.