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Conn. latest state to adopt annuity best-interest rule

Connecticut is the 16th state to adopt the National Association of Insurance Commissioners’ best-interest annuity rule. NAIFA Connecticut President Sofia Dumansky said in a joint statement with American Council of Life Insurers President and CEO Susan Neely that adoption of the rule “represents a huge victory for consumers.” Full Story:…

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Secure Act 2.0 Need to Know

Secure Act 2.0 passed May 5 here’s what you need to know: Secure Act 2.0 includes: A new required mininum distribution age of 75 Automatic employee enrollments Increased tax incentives to employers with reitrment plans 401k to annuity conversion expansion But that’s not all there is in the massive bill….

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Generation X Potential Annuity Customers

Have you considered Generation X as potential annuity customers? Recent research by the Alliance for Lifetime Income found that Gen X (ages 40-55) are interested in Annuities in the absence of company pensions. In fact, the survey of 1,500 investors revealed, “58% of investors under age 55 embrace annuities as…

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NAIC Work Group to Better Regulate Index-Linked Annuities

The National Association of Insurance Commissioners has created a task force for index-linked annuity products.  RILA’s are very popular now, so regulators have stepped in for consumer protection purposes. According to Insurance News Net, “Regulators gave the Index-Linked Variable Annuity Subgroup a 2021 charge to: Provide recommendations and changes, as appropriate,…

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Variable Annuities Outperformed Mutual Funds

Variable annuities outperformed mutual funds according to a 20-year study by DALBAR.  According to Financial Advisor magazine, by holding investments longer, annuities investors earned more than mutual investors 6.00% to 3.09% in 2020, and it wasn’t just that year.  By staying conservative annuities managers have managed to beat the market…

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Market Upswing

Annuity Market Better Than Expected in Pandemic

2020 and pandemic market volatility have made predictions tough for many insurers. Surprisingly, the annuity market fared better than expected in the pandemic.  We mentioned that back in June of 2020. So, why is the annuity market better than expected in the pandemic?  According to ThinkAdvisor, “That means some investors…

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Change One Word in Your Pitch to Sell More Annuities

We’ve talked about the stability of annuities before. What if you could change one word in your pitch to sell more annuities? According to Harry Stout, it’s a matter of creating a new mindset for clients. “When advisors talk to their clients about annuities, the conversation usually centers on creating…

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Expert: Annuities put retirees more at ease about spending

Retirees with adequate savings who also have an income annuity or pension tend to be more comfortable spending their savings than retirees without a guaranteed source of income, according to Michael Finke, professor of wealth management at the American College of Financial Services. “If you know you’re not going to…

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Guarding against portfolio losses with annuities

The coronavirus pandemic took a toll on investor optimism and encouraged people to focus on guarding against portfolio losses, a study suggests. Diversification is the most common strategy to protect against losses, and many millennial and Gen X investors also indicated they would use annuities to address market risk. Full…

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Annuities fared better than other retirement assets in Q1

Annuity reserves declined 7.3% in the first quarter of this year, compared to the fourth quarter of 2019, but the drop was smaller than any of the other retirement asset classes, according to a report from the Investment Company Institute. During the same period, total retirement assets dropped 12% and…

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