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Department of Labor proposal released Wednesday would extend the transition period and delay of applicability from Jan. 1, 2018, to July 1, 2019.
The Insured Retirement Institute’s Aug. 7 comment letter says evidence demonstrates negative consequences the rule is already having on retirement savers and the industry.
2016 FMO Executive Outlook, Part I: The M&A climate, planning for the DOL Fiduciary Rule, other key challengesInsurance Forums asked top executives at some of the industry’s most respected insurance marketing organizations for their insight into key issues. Their responses provide a glimpse into top concerns and opportunities for the independent life insurance and annuity distribution channel and a preview for where it is headed.
In the wake of the DOL Fiduciary Rule, the fee-based fixed indexed annuity movement continues to gain momentum with the introduction of new products this month from Nationwide and Symetra.
Comments – some due by July 21 – seek input on whether to delay the Jan. 1 full implementation date and suggestions for streamlining the Rule’s major provisions.
With the DOL Fiduciary Rule now partially in effect, an increasing number of new tools are being introduced to help advisors and insurance agents comply in the new environment.
Labor Secretary Acosta announces initial implementation will begin June 9 as the agency will continue to review the rule up until final implementation on January 1, 2018.
Annuity sales decline in first quarter on DOL rule worries; variable, fixed sales forecast to drop 10-15% in 2017LIMRA Secure Retirement Institute expects overall sales in 2017 to fall below $200 billion, which would be the lowest annuity sales have been since 2001.
Indexed Annuities Forums Topics
I guess it's time to vent a little. Why do companies and agents claim that the returns on these annuities are based off the S&P 500 with no downside risk? The company takes the money and invests almost all of it into bonds with only a small amount into options. With a cap of anywhere from 2-4 percent that is hardly S&P returns. According to Morningstar the S&P 500 had the following returns as of......
To sell this product, after the DOL law is implemented, will you need a securities license?...
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