Indexed Life Sales Shatter Records In 2018, Wink Reports

Life insurance posted strong 2018 sales numbers in some categories. From Staff and Wire Reports Indexed life sales set a new record for 2018, according to Wink, Inc. in its 86th edition of Wink’s Sales & Market Report. Indexed life sales for the fourth quarter were $617.4 million, up more than 16.8 percent compared with […]

U.S. Life Insurance Premium Up 1% In 2018, Policy Count Flat

Life insurance sales are stagnant. From Wire Reports Total U.S. individual life insurance new annualized premium (premium) increased 1 percent in 2018, compared with 2017 results, according to the LIMRA U.S. Retail Individual Life Insurance Sales Survey. This represents the fifth year of growth in premium for U.S. life insurance. The study reported fourth quarter […]

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 […]

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 […]

NAIC Considers Doubling 10-Year Minimum For Illustration Indices

A National Association of Insurance Commissioners’ working group put a strong proposal on the table Thursday to double the time indexes must be in existence to be used in annuity illustrations. The proposal put forth by John Robinson of Minnesota would double the time indexes must be in existence from 10 to 20 years. The […]

African-Americans Look To Life Insurance For Wealth Transfer

African-Americans are increasingly viewing life insurance as a means of wealth transfer, a new study finds. African-Americans view life insurance as more than a means to pay for final expenses. They are increasingly looking to life insurance as a way to transfer wealth and leave a legacy. Those were among the findings of New York […]