Annuity Market News articles from November 2001

Annuity Market News archives from November 2001

Data Providers Do It by the Numbers.
November 1, 2001... Annuity issuers can't live without data: sales data, asset data, market share data. Yet the process by which data is assembled remains mysterious to most observers. At any given time, two or more of the major providers can give different...

Brennan Challenges Industry.(Jack Brennan, Vanguard Group Inc.)(Brief Article)
November 1, 2001... Variable annuities are a special product, not designed for everyone. But millions of Baby Boomers are approaching retirement, and they present a great opportunity for the annuity industry if it can meet the challenges of the next decade. Among...

Memo to Brokers: Sell More!(life insurance management theory and industry analysis)(Brief Article)
November 1, 2001... Rather than focus on bonus products that contribute to cannibalization, the annuity industry needs to look for more assets. "Attracting New Money Challenges and Opportunities," a panel at the recent National Association for Variable Annuities...

Making the Stretch.(Brief Article)
November 1, 2001... A new variation on traditional IRAs, the "stretch," extends the benefits of tax deferral and legacy planning possibly as far as a consumer's grandchildren. As an added bonus to carriers, assets tied to an annuity stay in place. In...

NAVA Conference Goes Ahead.(National Association for Variable Annuities)(Brief Article)
November 1, 2001... Despite initial concerns of cancellations at the National Association for Variable Annuities' 10th annual conference in Boston, nearly 1,000 people showed up for the two-day affair. While NAVA was pleased that attendance was level with last...

SunAmerica Integrates American General Exec.(John Graf )(Brief Article)
November 1, 2001... A former American General SVP has become a vice chairman at SunAmerica and joined its board of directors. John Graf has assumed responsibility for the firm's fixed annuity business, VALIC group retirement products, and SunAmerica Financial...

Manulife Financial Introduces Two Variable Life Policies.(life insurance product introductions)(Brief Article)
November 1, 2001... Manulife Financial added two variable universal life products to its portfolio. Both the Venture VUL Protector and the Venture Survivorship VUL include a variety of guarantees and options, including the ability to choose from 60 sub-accounts...

Invesco's Leisure Fund Is Available For Annuity Products.(Invesco Funds Group product introduction)(Brief Article)(Product Announcement)
November 1, 2001... Invesco Funds Group made available the Invesco Leisure Fund for placement in annuity products and added it to the company's list of variable insurance funds. The fund invests primarily in companies involved in or related to leisure activities....

CNA Life's ViaChoice VUL Offers Guaranteed Coverage.(ViaChoice 3.0 product introduction)(Brief Article)(Product Announcement)
November 1, 2001... CNA Life introduced the latest version of its variable universal life insurance product, ViaChoice 3.0. ViaChoice is available in amounts between $100,000 and $20,000,000 and for applicants up to age 85. During an initial 10-year period,...

New DC Annuity for Hartford.(Hartford Life product introduction)(Brief Article)(Product Announcement)
November 1, 2001... Hartford Life has launched a new 401(k) group annuity product, Hartford 401 Cornerstone, intended for distribution through broker-dealer Edward Jones. The product offers 43 sub-accounts from investment managers American Funds, Federated,...

Pacific Life Adds Calculators.(Pacific Life Insurance Co service introduction)(Brief Article)(Product Announcement)
November 1, 2001... Pacific Life Insurance Co. is launching a new service to make retirement income planning easier for variable life clients. Total Life Care consists of three services: model portfolios supplied by Ibbotson Associates; a Web site designed for...

Carriers: How Do You Rate?(annuity industry rating techniques and theory)(Brief Article)
November 1, 2001... In marketing, carrier ratings warrant much less discussion than product features and riders, yet the two are inextricably intertwined. A session at last month's National Association for Variable Annuities annual meeting with the utilitarian...

Riders and Options Are Still Controversial.(Life insurance industry management theory)(Brief Article)
November 1, 2001... Variable annuities can provide security to investors through enhanced earnings benefits and other similar guarantees that lessen the risks of investing in the stock market. However, rating agencies are concerned that riders and options increase...

Strategies to Make Assets "Sticky".(life insurance management techniques and theory)(Brief Article)
November 1, 2001... For "no-trail" annuity products, the end of the surrender charge represents a ticking time bomb for most policies. While carriers search for new sources of assets, they also want to hold onto the money they already have on their books. ...

L Shares: Hot or Not?(life insurance product information)(Brief Article)
November 1, 2001... Shorter-term surrender charge products appear to be all the rage, but are they? Many carriers have developed such products, with much attention surrounding L shares because they offer both sizeable up-front commissions along with a trail....

Peter Cummins to Retire From Hartford Life.(Hartford Life Insurance)(Brief Article)
November 1, 2001... After a quarter of a century, Peter Cummins, SVP for investment products sales and marketing at Hartford Life, will retire from the firm. During his career at the Simsbury, Conn.-based firm, Cummins introduced the Director, Hartford's flagship...

Technology Revolution Is Slow To Arrive, Panelists Say.(Life insurance industry)(Brief Article)
November 1, 2001... Although carriers may be slow to adopt new technology and reluctant to outsource, vendors and business partners eagerly take any opportunity to communicate the benefits of automation. Technology featured frequently-if not prominently-at the...

Outsourcing Tech May Allow Smaller Sub-Accounts.(BISYS Investment Services )(Brief Article)
November 1, 2001... Many carriers have been using spreadsheets such as Microsoft Excel to calculate sub-account values and perform other fund accounting services. With a foot already in this business in the mutual fund arena, BISYS Investment Services saw an...