Lincoln Installs New Leadership at Life Unit
Lincoln Financial Group has turned to a company veteran to lead its life insurance unit. Randal J. Freitag, the company’s CFO since 2011, assumes the helm of Lincoln’s life insurance business, providing strategic oversight at the senior management committee level. Mike Burns, head of the life unit, will continue to…
IPB 072: How Do You Define Best Interest?
Well, the day of reckoning has come and gone. The new Department of Labor’s new Fiduciary Rule is largely in effect across the financial services industry. Discussion over the rule and its implications have been debated over the last couple of years with a fair degree of intensity. …
Rise in Shorter-Term Surrender FIAs Means Commission Declines
The emerging popularity of fixed indexed annuities (FIA) with a seven-year surrender period is reducing commission income to agents, data shows. First-quarter indexed annuity commission received by agents dropped to 4.96 percent from 5.37 percent in the year-ago period, data from Wink’s Sales & Market Report indicate. “Shorter-term products pay lower commissions,” said Sheryl J. Moore, president and CEO of Moore Market Intelligence and Wink, publisher of Wink’s Sales & Market Report.
Should You Jump on the Buffer Annuity Bandwagon?
As the annuity marketplace evolves in reaction to the Department of Labor fiduciary rule, more and more insurance carriers are jumping onto the buffer annuity bandwagon as the popular products continue to gain traction with clients. While this is clearly the case, it’s more important than ever that advisors take…
Survey: A Tough Year for Insurance and Annuities
The focus on fees and taxes is expected to make life difficult over the next year for life and annuity products in the eyes of financial planners, a new survey on investing trends found. Usage or recommendations of fixed, variable and indexed annuities fell by several percentage points from 2016 to 2017, the survey of certified financial planners found. Likewise, usage/recommendations of fixed and variable permanent life insurance products also fell by several percentage points.