Kiplinger’s: Annuities Can Help Clients Afford Long-Term Care

Richmond Times-Dispatch (VA) Long-term-care costs can shatter your retirement nest egg, but here are some ways to pay for these potentially big bills. Traditional long-term-care policies: These are usually the most efficient way to cover costs if you end up needing care. You choose the daily or monthly benefit and the benefit period, and usually […]

PartnerRe Announces Longevity Transaction With Manulife

Targeted News Service PartnerRe is pleased to announce that it has entered into a transaction with The Manufacturers Life Insurance Company (Manulife) to reinsure longevity risk from an in-force block of Canadian group payout annuities. In aggregate, PartnerRe will reinsure the longevity risk in respect of approximately 25,000 annuitants. Alan Ryder, CEO of PartnerRe North […]

Nationwide’s New VA Is Designed For RIAs And Fee-Based Advisors

Nationwide Advisory Solutions launched Nationwide Advisory Retirement Income (NARIA)℠, a new variable annuity (VA) with an income guarantee designed expressly for RIAs and fee-based advisors to align with their values and fit the way they work. NARIA can help RIAs and fee-based advisors incorporate insurance into the holistic planning process with a simple, transparent, low-costi […]

SEC Says Texas Radio Host ‘The Money Doctor,’ Ran Ponzi Scheme Targeting Elderly Investors

Targeted News Service The Securities and Exchange Commission announced that it has charged Texas resident William Neil “Doc” Gallagher-the self-styled “Money Doctor” featured on three Dallas-area radio stations-in an emergency action to shut down a $19.6 million Ponzi scheme targeting elderly investors’ retirement funds. The SEC also charged Gallagher Financial Group, Inc. and W. Neil […]

‘You’re Kidding Me’: Man Stunned By $1 Million Lottery Win

Charlotte Observer (NC) March 13– Mar. 13–A North Carolina man was a bit skeptical when a caller told him he’d won a $1 million prize. “I couldn’t believe it was true,” Richard Costantino of Concord told state lottery officials when he claimed his Extreme Millions prize at lottery headquarters in Raleigh on Monday, according to […]

Ohio National Facing New Lawsuit Over Trail Comp Cut

Annuities are attractive for advisors and clients because they offer income retirees cannot outlive. A new lawsuit was filed Monday challenging Ohio National’s decision to stop paying trail commissions on certain variable annuity contracts. Stephen K. Cook, an investment advisor representative with Triad Advisors, a Dallas, Texas broker-dealer, filed the class-action lawsuit in U.S. District […]

Genworth Suspends All Annuity, LTCi Sales Through BGA Channel

The brokerage world is reeling from the news that Genworth is halting long-term care insurance and annuity sales through the broker general agency channel. “We are deeply concerned about this course of action,” said Myra Palmer, chair of the board of directors of National Association of  Independent Life Brokerage Agencies. “We are hopeful this is only […]

Annuities On The Rebound, Kiplinger’s Reports

Richmond Times-Dispatch (VA) Kiplinger’s Personal Finance After years of declining sales, annuities are hot again. Part of the reason for the resurgence is that rising interest rates are increasing annuity payouts. But much of the credit for the rebound goes to the demise last year of the fiduciary rule – the U.S. Department of Labor […]

Arizona Annuity Law Passes Senate One Month After Being Introduced

A new state annuity regulation law is speeding through the Arizona Legislature, passing the Senate Wednesday by a 29-1 margin. Senate Bill 1534 was introduced Feb. 6 and quickly passed out of the Senate Finance Committee before clearing the full Senate this week. The bill moves on to the House of Representatives. The bill was […]

Two-Time Lottery Winner Eschews Annuity For Lump Sum

Independent Tribune (Concord, NC) Terry Splawn of Concord said he’s still in shock after he purchased a $1 million lottery ticket for the second time in two years. “What are the odds of this happening?” Splawn said. “I can’t believe I won the lottery not once, but twice!” His first run in with good luck […]