New Yorkers affected by COVID-19 may defer paying life insurance premiums for 90 days

Hardest-hit state also sets special health insurance enrollment period April 1-15 through New York State’s Health Plan Marketplace.

Congress finalizes $2 trillion coronavirus relief bill including retirement plan aid

Legislation allows limited, early withdrawals from retirement accounts, deferred RMD in 2020.

SEC adopts investor disclosure improvements for variable annuities and variable life contracts

IRI calls amendments to streamline and simplify critical disclosures for investors in variable annuity and life insurance products a “major leap forward.”
life insurance sales

2019 annuity sales reach highest level since 2008

Fixed indexed annuity sales break all-time record thanks to strong performance in the first half of the year, according to Secure Retirement Institute data.

NAIC updates annuity sales best interest model regulation

State regulators revise model to require producers act in customer’s best interest when recommending annuity products.

Gen X, Millennials likely to support aging parents… but aren’t planning for it

New research from AgeUp reveals a majority of Millennials and Gen Xers expect to financially support their parents in their old age, but few...

NAIC committee approves revised suitability in annuity transactions model regulation

Proposed suitability model revision would provide enhanced consumer protections requiring those selling annuities to act in the best interest of the consumer, and to disclose potential conflicts of interest.

Congress tacks SECURE Act to 2020 spending bill

House and Senate leaders include landmark retirement reform bill benefitting annuities in must-pass federal budget agreement.

New annuity aimed at adult children of aging parents

MassMutual’s Haven Life unit introduces a new product Boomers can purchase to help their parents avert the risk of outliving their retirement funds.

Life, annuity providers becoming more customer-centric, less producer-focused, J.D. Power finds

Northwestern Mutual and RiverSource rank highest in respective product lines according to J.D. Power 2019 U.S. Life Insurance Study.