Life insurers have concerns about tax-overhaul proposals The life insurance industry plans to air its concerns to Congress over proposals by Rep. David Camp, R-Mich., and potential proposals by President Barack Obama. Camp’s proposals would affect the use of inherited IRAs, as well as the tax treatment of life insurance…
Tax-overhaul plan includes provisions on life insurance A tax-overhaul proposal from the House Ways and Means Committee’s chairman includes provisions that would affect life insurance, such as limits on pro rata interest expense disallowance for corporate-owned life insurance and repeal of a special deduction for small life insurers, Warren Hersch…
Life insurers are adding riders amid flat sales American International Group, New York Life and Nationwide are among the companies adding rider options including long-term care, disability and critical illness. The companies are hoping the rider additions will make the policies more appealing and improve sales, Cyril Tuohy writes. InsuranceNewsNet…
Surviving spouses get second chance at estate tax exemption The IRS is offering an extension for taxpayers whose spouses passed away in 2011, 2012 or 2013 to file an estate tax return and claim portability of the deceased spouse’s unused exemption amount. Michael Kitces details the requirements, legislative history and…
Commentary: Permanent life insurance has many uses Permanent life insurance, long an estate-planning tool for the well-off, has grown in importance over the past decade for clients of more modest means, write David Appel and David Shannon of Appel Insurance Advisors. Among its uses are as an alternative investment, for…
Experts: Rising interest rates may spur gradual life insurer growth A potential trend toward rising interest rates is important in helping life insurers compete and sell their most profitable products, including annuities, Arthur Postal writes. Life insurers, however, are likely to experience gradual growth as the economy improves, experts say….
Survey: Advisers see rising rates as key issue for clients A survey sponsored by Janus Capital Group says 93% of financial advisers view increasing interest rates as one of the top five issues they need to discuss with clients in 2014. Many advisers say clients aren’t as concerned as they…
Experts: Budgets hinder life insurance sales in multigenerational households A household with people across multiple generations can present opportunities to sell life insurance policies, but such a situation also presents difficulties, experts say. For example, such households often have little extra income to spend on insurance, experts said. “When it…
Survey: Life insurers plan product, pricing moves due to regulatory changes Half of life insurers responding to a Towers Watson survey said they plan to curtail or alter their universal life products. In addition, 64% said they plan to redesign retiree health and life plans, and 55% said they’re looking…
S&P cites stable outlook for life insurance industry Standard & Poor’s says a stable outlook continues to be in place for the life insurance industry. Insurers have “maintained acceptable net interest margins” through a long period of low interest rates and could benefit from an improving economy that may cause…
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