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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.
As industry associations including NAFA and IRI scramble to push for further delay of the scheduled June 9 initial implementation, FINRA Chairman Jack Brennan this week said whether or not the rule becomes law is now almost beside the point.
Move frees annuity and life carrier FGL’s board to evaluate strategic alternatives, which could include a deal with Athene.
Ohio National Financial Services has launched a new fixed indexed annuity, ONdex, designed to help customers reach their long-term retirement goals.
Protecting and expanding retirement security access is goal of IRI’s just-released 2017 advocacy blueprintThe Insured Retirement Institute released its 2017 Retirement Security Blueprint Monday, which will be used to engage Congress and the Trump Administration in a dialogue advocating policies to help Americans achieve a secure and dignified retirement.
Total fixed annuity sales hit a record-breaking $117.4 billion, 14% higher than 2015 levels according to newly released LIMRA data. Fixed indexed annuities also set a record, but variable annuity sales declined 21%.
If the DOL Fiduciary Rule is indeed implemented this April, the disruption it creates is expected to drive innovation in annuity product design this year.
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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