A North Carolina company has entered into an agreement to buy LBL in a deal expected to lead to Lincoln Benefit Life back into selling life insurance and annuity products.
Insured Retirement Institute recognizes industry thought leaders at VISION 2017 annual meeting in Florida.
DOL Fiduciary Rule seen as cause for declines in most categories as two major annuity sales quarterly reports are released this week. Indexed annuity sales on pace for 5-10% decline in 2017; VA sales expected to drop 10-15%, falling below $100 billion for first time since 1998.
Department of Labor proposal released Wednesday would extend the transition period and delay of applicability from Jan. 1, 2018, to July 1, 2019.
The Insured Retirement Institute's Aug. 7 comment letter says evidence demonstrates negative consequences the rule is already having on retirement savers and the industry.
In the wake of the DOL Fiduciary Rule, the fee-based fixed indexed annuity movement continues to gain momentum with the introduction of new products this month from Nationwide and Symetra.
Comments - some due by July 21 - seek input on whether to delay the Jan. 1 full implementation date and suggestions for streamlining the Rule's major provisions.
With the DOL Fiduciary Rule now partially in effect, an increasing number of new tools are being introduced to help advisors and insurance agents comply in the new environment.
Expanded definition of who is a fiduciary and impartial conduct standards set to take effect June 9, but DOL wonâ€™t enforce provisions until start of next year.
Labor Secretary Acosta announces initial implementation will begin June 9 as the agency will continue to review the rule up until final implementation on January 1, 2018.