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Aging population fuels demand for annuities

Asset managers are expected to look for markets and products to offset the effect of fee compression, despite continued growth in global assets under management, according to a report from Cerulli Associates. In the US, an aging population is driving interest in products such as annuities, the report states. PlanAdviser…

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Life insurance among tax-efficient ways to spend down an IRA

People looking to minimize taxes or pass their retirement savings on to heirs have a few tax-efficient options, writes F. Michael Zovistoski of UHY Advisors NY. He suggests using IRA funds to buy life insurance then hold the policy in a trust and using qualified charitable distributions. WealthManagement

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3 common causes of losing a prospect after the first meeting

Advisors frequently come to sales coach Dan Solin confused about why they failed to convert a prospect after a “great” meeting. In these cases, Solin often learns that the advisor did the majority of the talking, made assumptions or approached discussions about fees improperly. Advisor Perspectives

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Judge rejects challenge to N.Y. annuity sales rule

A New York judge has upheld the legality of an annuity sales rule, which was challenged in a lawsuit brought by the New York chapter of the National Association of Insurance and Financial Advisors and the Independent Insurance Agents and Brokers of New York. Following the ruling, Gary Sanders, vice…

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Improve communication to boost productivity, client loyalty

Improving communication can help insurance agents be more productive and benefit client relationships, writes Mike Furlong of Indio Technologies. He offers five tips for agents including streamlining communications, giving clients options and staying organized. InsuranceNewsNet Magazine online

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Fed expected to cut main rate by quarter point

Markets and observers expect the Federal Reserve to reduce its benchmark interest rate by one-quarter percentage point today. This would mark the first cut since 2008 and the fifth time in 25 years the central bank has switched from increasing to decreasing rates. The Wall Street Journal

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The rules for fixing a missed RMD

It can be easy for retirees to make mistakes with required minimum distributions, but the Internal Revenue Service may grant taxpayers a reprieve from the hefty 50% penalty they would normally face. Taxpayers must be sure to remedy the situation and file a Form 5329 for each year in which…

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AALU, GAMA International to merge by June 2020

The Association for Advanced Life Underwriting and GAMA International have announced plans to merge into one organization by June 2020 and adopt a new name. Commenting on the merger, NAIFA CEO Kevin Mayeux said, “NAIFA welcomes opportunities to continue working with all other groups sharing common interests on behalf of…

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Exec offers 4 ways insurance brokers can provide great service

Providing great service is important for insurance brokers to enhance client relationships and build their business, and there are four key ways to stand out as a service provider, according to Alex Moral, senior vice president of Trustmark Voluntary Benefits. They include nurturing personal connections with clients, being responsive and…

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long-term-care-insurance

Exec: Be cautious when promoting accelerated underwriting

Life insurance agents need to make sure they promote accelerated underwriting without overselling it, writes Ray Caucci, CEO of Vantis Life. To do that, he suggests agents only prescreen applicants likely to qualify, set reasonable expectations and carefully choose their words. InsuranceNewsNet Magazine online

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