In an elaborate media event to launch the Alliance for Lifetime Income, a jet-car driver, a shark wrangler, and four C-level life insurance company executives gathered in and around Times Square Oct. 4. The Alliance is promoting guaranteed income products.
Advisors who sold rich Ohio National variable annuities with guaranteed minimum income benefits are fuming at the insurer's announcement that it would no longer pay "trail" commissions to certain sellers of those contracts.
Envestnet will be offering a service called Guidance Desk that will allow unlicensed RIAs access to the consulting and fiduciary services that would enable them to use the Insurance Exchange. This service is still in development.
Most respondents overestimate the probability of rare events, and underestimate the likelihood of more certain, but lower-value, payouts, according to a new paper from the National Bureau of Economic Research.
Tontines offer investors a way to pool mortality and longevity risks directly among themselves, without intervention by any insurance company, write our guest columnists. (Pictured: Lorenzo di Tonti, creator of the tontine.)
'Our study reveals a complex story—the highest guaranteed income product varies significantly by client and when income begins,' said Tamiko Toland, head of Annuity Research at Cannex.
'After an extended period of good economic news—and right before recessions—people tend to believe that they do not need financial advice,' according to this brief from MacroMonitor, a publication of Consumer Financial Decisions, a unit of Strategic Business Insights.