Annuity Market News articles from October 2003

Annuity Market News archives from October 2003

At Deadline.
October 1, 2003... NAIC, ACLI Compromise On Senior Suitability Reg The National Association of Insurance Commissioners (NAIC) passed the Senior Protection in Annuity Transactions Model Regulation at its fall meeting in Chicago. The final stamp of approval...

Prof Invents New Way to Assess 1035s.
October 1, 2003... The exchange of money between annuity contracts has been both a boon and bust for the industry, and now all carriers and distributors are dealing with the marketing and compliance implications of 1035 exchanges. One new method of quantifying...

Private Annuities Come Under Scrutiny.
October 1, 2003... Tax lawyers say it is becoming more difficult to use private annuities in estate tax planning. A recent ruling by a Bergen County, N.J., judge says that private annuities may be considered securities that need to be registered under that...

Underwriting Creeps Onto the Radar.
October 1, 2003... Although medically underwritten annuities, also called impaired annuities, are a small part of fixed immediate annuity sales and generally considered a niche play, industry buzz about them seems to be on the rise. Furthermore, as carriers place...

Variable Annuity Sales up 78% at Banks.
October 1, 2003... Comparative sales of mutual funds and fixed annuities in the nation's banks sagged during the first six months of 2003 but variable annuity sales surged. According to Ken Kehrer Associates (KKA), an independent consulting firm based in...

ProFunds' New Funds Attract Interest.
October 1, 2003... American Skandia, Jefferson Pilot, John Hancock and The MONY Group have added a number of niche stock and bond mutual funds of the Bethesda, Md., fund group, ProFunds, to their variable annuity sub-accounts ProFunds' products include a...

The Trials & Benefits of Automated Order Entry.(Interview)
October 1, 2003... Automatically entering annuity orders is an area that created a lot of initial buzz, but its evolution has been a painful one. Many companies initially viewed automated annuity order entry as a route for direct sales, but it soon became clear...

2003 NAVA Hall of Fame Inductees.
October 1, 2003... William J. Atherton Sees a Bright Future For Variable Life Bill Atherton is part of the triumvirate that formed Wood Logan Associates, now Manulife Wood Logan in Stamford, Conn. A Canadian, he met his two associates while trying to...

People Moves.
October 1, 2003... Hancock Restrategizes Annuity Wholesaling Team News that John Hancock Financial Services had hired Jamie Shepherdson six months ago to run its third-party distribution of annuities piqued the interest of many within the industry. In hiring...