A life insurer known mainly for its fixed annuities has thrown its hat into the variable annuity ring.
John Hancock led the industry with $735 million in individual life insurance sales last year, according to a recent survey of 78 major life insurers by LIMRA International Inc.
Many insurers are providing incentives to their advisers to sell proprietary products, despite claiming to have “open architecture” platforms, according to industry observers.
NEW YORK — Advisers with clients who need life insurance for tax minimization and wealth transfer may want to consider a new policy geared to that market.
Add class action litigation to the regulatory controversies, bad press and other woes plaguing insurers that sell equity index annuities.
Industry leaders are concerned that insurance companies are taking on too much risk from annuities that offer guaranteed-withdrawal benefits for the life of the client. Financial services leaders worry that if baby boomers live longer than projected or a downturn hits the market, the financial strength of insurance companies could be threatened.
When banks and brokers first started offering health savings accounts, clients could choose any investment they wanted for their account funds — as long as it was a certificate of deposit.
NEW YORK — A securities law firm is seeking class action status for clients who may have been financially damaged by an insurer’s threats and commission incentives designed to skew adviser judgment in favor of proprietary products.
NEW YORK — John Hancock Life Insurance Co. of Boston this month introduced a policy that guarantees cash values to a greater extent than other types of whole life insurance.
A trade group for the variable annuity industry today announced a technology initiative intended to save time and money for VA distributors through streamlining and standardization.
A congressman who raised eyebrows last month when he seemed to imply that annuities are the answer to the need for lifetime retirement income claims he was misunderstood.
NEW YORK — Recent reports of an uptick in home invasions in many parts of the United States may increase the popularity of a policy that covers medical and other costs of the invasions.
