The hearing will concentrate on the practice of baiting seniors and terminally ill people to act as insured lives on an annuity purchase, with the death benefit going toward a third-party investor or an intermediary.
Insurance companies are scoping out new distribution channels for variable annuities. Managed-money programs and 401(k) plans top the list of targets.
Genworth's Total Living Coverage Annuity can also be covered through a tax-free 1035 exchange out of an old annuity or life insurance product.
Monthly sales of bank annuities have been declining steadily since climbing to a 2009 high last March.
A number of financial advisers are using the health care reform legislation passed last week as an opportunity to reach out to clients and review their investment portfolios.
President Barack Obama signed a major health care overhaul bill Today. Here are some of its features, along with details on a package of changes to the legislation under consideration by the Senate this week.
For a look at the retirement products advisers can expect in 2010, the insights of some literary greats — Charles Dickens, Voltaire, Lord Byron and Jane Austen — may be more illuminating than you would imagine.
High-income families would be hit with a tax increase on wages and a new levy on investments under President Barack Obama's health care overhaul bill.
President Barack Obama's health plan proposal would extend Medicare taxes to the investment income of higher-earning households.
American International Group Inc. recently made several high-level appointments and agreed to sell some assets, but recruiting talent and repaying government debt will remain challenges, according to experts.
The American Council of Life Insurers today blasted a newly floated tax proposal on unearned income — part of a series of suggested changes to the Patient Protection and Affordable Care Act of 2009.
State insurance regulators Monday voted in favor of a proposal that would allow carriers to terminate an annuity living or death benefit if a client sold the contract over the secondary market.
Annual volume from life settlements transactions is expected to reach $13 billion in face value over the next three years, according to research from Aite Group LLC.
The pension and actuary group sends a mea culpa to members after a financial advisory firm got hold of the association's mailing list for an upcoming conference.
And there's a 5% chance the tab could top $570K, according to a sobering study published this week by Boston College.
By integrating annuities into financial plans, advisers can take precautions against their clients' outliving their assets, according to a retirement income planning expert.
Standard & Poor's Equity Research recently upgraded its outlook for the biotechnology industry to positive from neutral.
Two life insurers are suing a trio of broker-dealers, accusing them of fraudulently selling to third parties variable annuities with lucrative death benefits on terminally ill individuals.
With the life insurance industry recovering from a year of falling revenue, as sales of variable annuities, universal- and variable-universal life insurance all off, carriers are gearing up to make some changes.
