BlackRock will use the SPARK Institute's new IT standards to deliver the LifePath in-plan income solution--a deferred income annuity in a target-date fund of funds. “That’s a very important step in the evolution of these products in the marketplace,” said BlackRock's Chip Castille (above).
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.)
The succession of Jackson National Life CEO Clark Manning by Mike Wells (at left), a 15-year veteran at the U.S. unit of Prudential plc and the incumbent COO, is not expected to change much at the firm, which counts management continuity as a contributor to its success in the variable annuity market.
If we're serious about reducing the deficit and sparing our grandchildren a legacy of debt, it would be irresponsible to do anything else.
MetLife saw record U.S. annuity sales of about $5 billion during the third quarter of this year, up 25% over the third quarter of 2009. The $5 billion included variable annuity sales of $4.7 billion, up 35% from the previous year.
In a 2009 Fidelity survey, 84% of advisors said they thought they had clients with symptoms of dementia. Half said they were reluctant to broach the subject of dementia with clients.
DIA, a DB and DC plan provider, is partnering with Vanguard and Transamerica Financial Life Insurance to offer plan participants a stand-alone living benefit on target-date funds.
Late-breaking items about The Hartford, AARP, Ameriprise Financial, RegEd, the Insured Retirement Institute and more...
"This isn't a choice between chocolate and vanilla, folks. It's all Rocky Road: a few marshmallows to get you excited before the election, but with a lot of nuts to ruin the aftermath." -- PIMCO chief investment officer Bill Gross, describing an American voter's dilemma.
The revenue from the transactions will help AIG pay back the Federal Reserve Bank of New York credit facility, which used taxpayer funds to bail out AIG during the financial crisis.