Question: I am a man in my mid-sixties. You recently have been discussing a life-insurance policy that has a long-term-care feature. My agent has given me two different proposals illustrating this type of policy. What is the difference and which is better? ...
Cincinnati: Insurance: Comparing long-term care features in life policies
Friday, May 28, 2010
Show Me the Money
Nielsen Financial uncovers what different kinds of wealthy clients typically buy and need.
All advisors want to work with wealthy clients, but targeting them is a challenge because every other advisor is pitching for the same business. Winners in this space go into a meeting with a high-net-worth prospect knowing roughly what kinds of services that prospect is likely to buy.
Like what you see? Click here to sign up for our daily newsletter to get the latest on advisor market trends, investment management, retirement planning, practice management, technology, compliance and new product development.
To take some of the guesswork out of it, research firm Nielsen Financial analyzed the investment trends of the wealthy and found that rich people fall into different brackets based on their interests and geography. Nielsen tracks as many as 15 unique customer segments, but there are at least four that advisors should be aware of in prospecting and expanding their business relationship with clients. For example, if you have a client who fits a described demographic, but only has a fraction of his money in annuities that the average suggests, perhaps it's time to dig deeper into the client's needs...
Bank Investment Consultant: Show Me the Money
All advisors want to work with wealthy clients, but targeting them is a challenge because every other advisor is pitching for the same business. Winners in this space go into a meeting with a high-net-worth prospect knowing roughly what kinds of services that prospect is likely to buy.
Like what you see? Click here to sign up for our daily newsletter to get the latest on advisor market trends, investment management, retirement planning, practice management, technology, compliance and new product development.
To take some of the guesswork out of it, research firm Nielsen Financial analyzed the investment trends of the wealthy and found that rich people fall into different brackets based on their interests and geography. Nielsen tracks as many as 15 unique customer segments, but there are at least four that advisors should be aware of in prospecting and expanding their business relationship with clients. For example, if you have a client who fits a described demographic, but only has a fraction of his money in annuities that the average suggests, perhaps it's time to dig deeper into the client's needs...
Bank Investment Consultant: Show Me the Money
A New Dynamic
Variable annuity sales fell in 2009 as incentives to stay put in existing contracts choked off exchange growth.
New variable annuity sales rose 2.6% in the fourth quarter of 2009, although they were down 3.8% from the previous fourth quarter. Year-over-year, new sales plummeted almost 19%, from $151.6 billion in 2008 to $123.1 billion in 2009. That's the lowest annual new sales figure since 2002, when sales reached $112.4 billion after bottoming out at just over $107 billion in 2001...
Financial Planning: A New Dynamic
New variable annuity sales rose 2.6% in the fourth quarter of 2009, although they were down 3.8% from the previous fourth quarter. Year-over-year, new sales plummeted almost 19%, from $151.6 billion in 2008 to $123.1 billion in 2009. That's the lowest annual new sales figure since 2002, when sales reached $112.4 billion after bottoming out at just over $107 billion in 2001...
Financial Planning: A New Dynamic
Annuities After the Deluge
Insurers are simplifying variable annuities to reduce risk and cut costs, but most investors still want living benefits.
Annuities saw the best of times (for clients) and the worst of times (for insurers) when the safety features kicked in during 2008. Insurers convinced they sold their guarantees too cheaply have rushed to repair the damage.
Like what you see? Click here to sign up for our daily newsletter to get the latest on advisor market trends, investment management, retirement planning, practice management, technology, compliance and new product development.
They are doing this in two ways. Some are stripping back the fancy features that proliferated in the past by offering simpler, cheaper products that carry less risk for insurers. Others continue to offer fancy bells and whistles, but at a slightly higher price...
Bank Investment Consultant: Annuities After the Deluge
Annuities saw the best of times (for clients) and the worst of times (for insurers) when the safety features kicked in during 2008. Insurers convinced they sold their guarantees too cheaply have rushed to repair the damage.
Like what you see? Click here to sign up for our daily newsletter to get the latest on advisor market trends, investment management, retirement planning, practice management, technology, compliance and new product development.
They are doing this in two ways. Some are stripping back the fancy features that proliferated in the past by offering simpler, cheaper products that carry less risk for insurers. Others continue to offer fancy bells and whistles, but at a slightly higher price...
Bank Investment Consultant: Annuities After the Deluge
Thursday, May 27, 2010
Cash refund for life insurance
A new cash refund option will be made available through Symetra Life Insurance for its income annuity products, according to the insurer.
With the cash refund option, once the annuity owner dies, the beneficiary is able to get one lump sum that is equivalent to the unrecovered purchase payment, Symetra said. The annuity will be paid out no matter what the circumstance may be, ensuring a certain monetary amount...
US Insurance Online: Cash refund for life insurance
With the cash refund option, once the annuity owner dies, the beneficiary is able to get one lump sum that is equivalent to the unrecovered purchase payment, Symetra said. The annuity will be paid out no matter what the circumstance may be, ensuring a certain monetary amount...
US Insurance Online: Cash refund for life insurance
Couple charged with life insurance fraud
A Florida couple have been charged with an insurance swindle involving the burial of a man they knew under a false name.
Laura Freed, 43, and Michael Petro, 40, were arrested Sunday, the Orlando Sentinel reported. They have been released on $125,000 bail.
Investigators say Freed and Petro took out an insurance policy on the life of Racko Petro in 1998. In 2005, Billy Urich, 59, was admitted to Heart of Florida Regional Medical Center as the 34-year-old Racko and died there of kidney failure...
UPI: Couple charged with life insurance fraud
Laura Freed, 43, and Michael Petro, 40, were arrested Sunday, the Orlando Sentinel reported. They have been released on $125,000 bail.
Investigators say Freed and Petro took out an insurance policy on the life of Racko Petro in 1998. In 2005, Billy Urich, 59, was admitted to Heart of Florida Regional Medical Center as the 34-year-old Racko and died there of kidney failure...
UPI: Couple charged with life insurance fraud
Fed Is Confident of AIG Payback, but Skeptics Remain
Federal overseers of American International Group Inc. and its chief executive sought to convince a skeptical congressional panel that the U.S. would recoup the record sum extended in the AIG bailout.
Federal Reserve officials said they are increasingly confident the government-controlled insurer will repay what it owes the central bank, but their Treasury Department counterparts appeared less certain...
WSJ: Fed Is Confident of AIG Payback, but Skeptics Remain
Federal Reserve officials said they are increasingly confident the government-controlled insurer will repay what it owes the central bank, but their Treasury Department counterparts appeared less certain...
WSJ: Fed Is Confident of AIG Payback, but Skeptics Remain
Subscribe to:
Posts (Atom)