Annuity Market News articles from August 2001

Annuity Market News archives from August 2001

Sales Practices Get SEC Scrutiny.
August 1, 2001... WASHINGTON, D.C. Adding a bonus to an annuity can be a key selling point for variable product sales reps, but unless it is advantageous for the purchaser, that key selling point can turn into an Securities and Exchange Committee target very...

VA Industry Debates Tax Impact...(Statistical Data Included)
August 1, 2001... Will the new sweeping tax relief provisions spell certain death for the variable annuity industry? Industry executives and analysts suggest that despite dire predictions, it isn't time to purchase the casket just yet. Weiss Ratings,...

...While Effects on VL Are Fuzzy.
August 1, 2001... The inability of Congress to address the issues surrounding the estate tax head-to-head has left some financial planners, accountants, attorneys, agents and insurers pulling out their hair-and left questions about the shape of the variable life...

Dedicated Fund Boards Have Marketing Roles.(says Kirkpatrick and Lockhart partner Diane Ambler)
August 1, 2001... WASHINGTON, D.C. Implementing a 12b-1 plan in a dedicated fund may benefit an insurance company, but unless the boards of directors of those funds want to draw the attention of the Securities and Exchange Commission, they must consider the...

Conseco Restructures Distribution.(Conseco Retirement Services)
August 1, 2001... Conseco Retirement Services has restructured, channeling its annuity sales structure and adding bank distribution. The change comes as Carmel, Indiana-based Conseco, Inc. rides out its own financial storm, and is intended to affirm Conseco's...

At Deadline.
August 1, 2001... American Skandia Goes With AnnuityNet American Skandia Life Assurance Corp. has given the thumbs-up to AnnuityNet, Inc. The Shelton, Connecticut-based insurer has adopted the e-commerce provider's annuity sales platform. AnnuityNet,...

ManuLife Ponies Up New Riders.(Manufacturers Life Insurance Co.)
August 1, 2001... Manulife Life Insurance Co. has introduced two new riders in its Venture Annuity. The firm now offers the Guaranteed Retirement Income Program II (GRIP II) and the Guaranteed Earnings Multiplier (GEM) in its most popular product. Both riders...

More Firms Try Wholesaling.(Brief Article)
August 1, 2001... Last month, AMN reported on the efforts of INVESCO to increase sales through wholesaling. INVESCO isn't alone in its quest for a bigger piece of the variable annuity and variable life pie. And growing a dedicated annuity wholesaling force is on...

MetLife Polishes Image, Retools VA Products, Distribution.
August 1, 2001... MetLife may be 133 years old, but it's acting like an eager adolescent. The firm that claims to touch nine million individuals and has one of its products or services being used in one in eleven households, wants to show the world what it's...

People Moves.
August 1, 2001... Triemstra Gets a Try Pacific Life Insurance Co.'s annuity division has added Joel Triemstra as a director of new business development for the West Coast. In the newly created position, Triemstra will be responsible for developing...

Skandia Drops Janus, JP Morgan.(American Skandia)
August 1, 2001... American Skandia is dropping Janus' small-cap portfolio from its product line. On July 17, the Shelton, Conn.-based firm filed a proxy with the Securities and Exchange Commission to replace Janus with Pilgrim Baxter for its small-cap variable...