During 3Q 2013, carriers filed 84 annuity product changes. AXA Equitable made a buyout offer, several carriers limited new payments to contracts, and Jackson National made living benefits available on joint life products again, according to Morningstar's quarterly update.
For weeks, interesting studies have been gushing from the National Bureau of Economic Research and elsewhere on the economic implications of COVID-19. We've selected and summarized seven of them for you.
AARP's 38 million members can now buy income annuities and fixed-rate annuities on a platform powered by fintech firm Blueprint Income. Buyers get a complimentary annual 'retirement income check-up' from a salaried, insurance-licensed adviser.
The Treasury said this week that it will borrow (and spend) about $3 trillion this quarter, to cover its stimulus promises. Where does that money come from and where does it go? 'The capital is going from one pocket to another,' explains Vanguard's active Treasury fund manager, who expects the stimulus to be withdrawn in 2022.
Recent surveys of plan participants and IRA owners from Cerulli Associates and the Investment Company Institute shed light on a pivotal question: Which type of account will most Boomers draw their retirement incomes from?
The statement, 'The more the government borrows, the more it has to pay for its borrowing,' is sometimes true and sometimes false, writes this economist and author.
A new study by economists at Stanford and the University of Utah suggests that less-productive workers start working harder when local unemployment rates go up.
On Nov. 1, Harbinger unit Fidelity & Guaranty Life announced it would leave Maryland and relocate to Iowa for that state’s “deep insurance talent pool, sophisticated regulatory approach to indexed products, and strong business climate.” In August, FGL filed for an IPO.
High inflation also "discourages full-time work and encourages partial and full retirement,” according to a trio of researchers from UC-Berkeley, the University of Michigan and the Social Security Administration.
"As retirement evolves into a more flexible yet complicated life stage, financial services providers could benefit from understanding the multiple stages of retirement better," says SRI Consulting-Business Intelligence.
Brief or late-breaking items from New York Life, MassMutual, Towers Watson, Jackson National, Fidelity Investments and Guardian Life.