New LIMRA SRI study of annuity owners finds the top two reasons consumers buy annuities are to supplement Social Security/pension income and to receive guaranteed income payments for life. Two-thirds of pre-retirees say having enough money to last their lifetime is one of their top three goals of retirement.
Non-variable annuity sales for the third quarter of 2018 increased 4.72% as compared to the prior quarter, and improved 0.46% as compared to the same period last year, based on preliminary sales by Wink’s Sales & Market Report released on Nov. 14.
Seventh annual Dodd-Frank-mandated report shows U.S. still the world’s largest insurance market; provides a detailed analysis of the current state of the overall market.
Company introduces a financial product with no contract fees or surrender penalties to reward smart spending habits with cash back by using a pre-paid debit card.
Latest volume, released Monday, finds life insurance companies paid $77 billion to beneficiaries and $82 billion to owners of annuities in 2017, while maintaining status as the largest institutional investor in the U.S.
An amendment in The Family Savings Act, HR 6757 passed by the House of Representatives on Sept. 27, would improve access to annuities by removing barriers restricting the types of small business employers permitted to band together to offer a retirement plan.
Showing workers their retirement savings as income estimates, financial professionals can help make sure workers are saving enough and confident in their ability to lead the retirement lifestyle they want.
Under Phillips, the industry non-profit Society for Annuity Facts & Education will enhance its mission of providing consumer education across multiple platforms, allowing consumers to make educated decisions about their retirement planning.
Under the new plan, effective September 15, the company will no longer accept applications for annuities or new retirement plans, while continuing to service and support existing clients in both businesses. As a result of this decision, the company will reduce its workforce by approximately 300 positions.
Allianz Life and Pacific Life each introduced new features and capabilities recently, intended to help financial professionals deliver better service to clients.