When entering a sales conversation with a prospect, “keep an open mind and accept that you might not know the prospect’s true need,” writes John Pojeta of The PT Services Group. He offers four tips for a successful conversation, which include refraining from overpreparing and allowing the prospect to speak….
Market volatility and slowing economic growth are likely to make participants of defined-contribution plans interested in products that offer downside protection, according to the Institutional Retirement Income Council. These include deferred annuities, guaranteed-income benefits, stable-value contracts, alternative funds and real-asset funds, IRIC says. PlanAdviser online
John Hilton notes three positive trends in the financial advisory industry heading into the new year: an increase in annuity sales, high confidence and satisfaction among people who work with advisors, and a growing need for financial planning and guaranteed income. Advisor News
Charitable gift annuities allow donors to receive annuity payments in exchange for a monetary or property donation to a charity, writes Brian O’Connell. Among the advantages are an immediate tax deduction and the potential for some of the annuity income stream to be tax-free, he writes. TheStreet
The protections built into fixed-indexed annuities make them particularly useful to retirees when markets turn volatile, according to finance expert Dr. Wade Pfau. “This protection may make it easier to retire successfully in down market environments,” he says. Kiplinger online
Proposals to impose best-interest standards on insurance agents could be taken up by as many as 14 states. “There’s a narrative that we have to fix something but there’s no evidence that there’s something that needs fixing,” AssessBEST CEO Kim O’Brien said. InsuranceNewsNet Magazine online
InsuranceNewsNet Senior Editor John Hilton looks at developments in federal and state regulations that are likely to affect annuity sellers. While much is still up in the air, he notes that tougher regulations are “coming sooner rather than later.” InsuranceNewsNet Magazine
CANNEX researchers look into the question of which type of annuity pays the most guaranteed income and found that the answer depends of several factors, including the client and timing. “[A]dvisors need to rely on real analytics, not traditional perceptions or best guesses of how guarantees work, to best serve…
If you have started a family, remarried, own a business or have potential estate tax liabilities, life insurance can be a good planning tool, writes Catherine Schnaubelt of CIBC Private Wealth Management. She stresses the importance of choosing the right policy with an appropriate amount of coverage. Forbes
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