Annuity Market News articles from May 2007

Annuity Market News archives from May 2007

Security Benefit Has Designs on Advisers: New EliteDesigns VA Offers Low Fees, Plenty of Fund Choices.
May 1, 2007... In pursuit of the narrow but high-potential fee-only adviser market, Security Benefit Life Insurance of Topeka, Kan., has introduced a new C-share variable annuity that features little or no insurance costs, a lifetime income option and more...

The Reverse-Engineered EIA: BalancePlus Annuity' Seeks to Resolve Consumer Turnoffs'.
May 1, 2007... When Ron Shurts and Don Dady needed a fresh product for their startup company, The Annexus Group, they decided to find out why people don't buy equity-indexed annuities and then build a new, more disarming EIA based on what they learned. ...

Possible Tontine' Revival Raises Worries.
May 1, 2007... Tontines are banned because they're considered an incentive to homicide. Could tontines also pose a mortal threat to the annuity industry? These bond-like investments, invented in 1653 by Leonardo de Tonti, were first used to finance wars...

New Medicaid Rules May Hamper Annuity Sales.
May 1, 2007... The Deficit Reduction Act could be throwing a monkey wrench into the annuity business. A policyholder who has exhausted his or her funds due to a nursing home stay may have no choice but to apply for Medicaid-the state-and-federally-funded...

John Hancock Banks on Bank Variable Annuity Sales.
May 1, 2007... Sales of John Hancock Financial Services' variable annuities in the bank channel hit a record $1.28 billion in 2006, up from $1 billion in 2005-itself a record year. The 28% increase marks the third consecutive year the insurer has...

At Deadline.
May 1, 2007... iPipeline Introduces STP Electronic Forms iPipeline, a maker of web-based tools that help producers market, sell and process insurance and annuity applications, has released "iGO Forms," a multi-carrier front-end platform that improves...

People Moves.(Penn Mutual Life Insurance Co. appointed Justin Jones and Ken Junge)(David Longfritz joined John Hancock Annuities)(Securian Financial Group promoted senior managers)
May 1, 2007... MassMutual Merging Annuity, Income Units, With Dickey at the Helm MassMutual has merged its annuity and income management divisions to better serve the growing retirement income market. Drew Dickey, senior vice president for retirement...

Sun Life's Guaranteed Benefit Rider a Better Mousetrap.(Income ON Demand from Sun Life Financial)
May 1, 2007... Sun Life Financial of Wellesley, Mass., has launched a new variable annuity guaranteed benefit rider that lets policyholders adjust their income flow at any time. The patent-pending rider, dubbed Income ON Demand, is for most of its...

The Fight to Control Fixed Index Annuities.
May 1, 2007... For the past year, insurance and investment big-money players have been involved in a heated battle as part of the ongoing war to see who will dominate the financial services industry. All the big guns have been pulled out for this battle....