Income annuities aren't a good product fit for every insurance company. But for New York Life, a mutual company with tons of reserves and a big book of life insurance, they make perfect sense.
African Americans in general have fewer assets, less faith in Wall Street and less appetite for risk than whites, but their need for financial guidance is arguably that much greater.
Some goldbugs have accused the Bank of International Settlements of engineering the 2008 financial crisis to subvert the dollar. This account of a visit to BIS' Swiss headquarters, first published in Harper's in 1983, has been updated for RIJ by the author.
Here's a smarter way for retirement income product manufacturers to segment and sell into the advisor market, according to survey analysts Howard Schneider of GDC Research and Dennis Gallant of Practical Perspectives.
By re-valuing each client's annuity contract each day, New York Life enables advisors to charge a fee based on the (shrinking) cost of replacing the income stream.
Starting with today’s issue, we’ll devote four weeks of cover stories and features to single premium immediate annuities. Millions of mass=affluent Americans will need them.
Prudential has created a cost structure for its top-selling VA that satisfies the broker's client-focus. At left, Merry Mosbacher of Edward Jones.
In 2010, MetLife sold about $18.3 billion worth of variable annuities, of which about two-thirds have the GMIB option.
Divestitures should drive a significant portion of deal activity in 2011, PwC said. Large banks and insurance companies that need to bolster capital levels are divesting non-core operations and margin-dilutive subsidiaries.
The insurer has also added to the team supporting the product, led by Corey Walther, Head of Investment Relations and Fee-Based Distribution for Allianz Life Financial Services, LLC.
Brief or late-breaking items from DST Systems, Senior Market Sales, Conning Research, BNY Mellon, Mutual of Omaha, Mesirow Financial, ASPPA, Lockton Retirement Services, Huntington Investment Co., Allianz Global Investors and Putnam.