Latest Articles

ING Introduces New Indexed Universal Life Product That Uses Multiple Stock Market Indexes From Around the Globe

[ 2010-02-01]

ING announced today that it will introduce a new indexed universal life insurance product that will offer interest crediting based on an indexed strategy option that includes two non-U.S. stock market indexes. Named ING Indexed Universal Life-Global (ING IUL-Global), and issued by Security Life of Denver Insurance Company, the product offers policy holders valuable death benefit protection and the choice of a fixed interest strategy or an indexed strategy. The indexed strategy credits interest based upon a formula that uses a portion of the two better-performing of three indexes (S&P 500® Index, the EuroSTOXX 50® Index, and the Hang Seng Index) looking back over a five-year period. "ING IUL-Global's indexed strategy offers both the potential to capture some upside from the best two of three indexes, with the downside protection of a 1% per-year guaranteed minimum interest rate," said Daniel Mulheran, president of ING U.S. Retail Life Distribution. "It is a great product for those who need life insurance and are looking for potential cash accumulation, supplemental retirement income, executive benefits or are interested in financing their premiums." http:/ / www.prnewswire.com/ news-releases/ ing-introduces-new-indexed-universal-life-product-that-uses-multiple-stock-market-indexes-from-around-the-globe-83245972.html

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John Hancock Launches Single-Premium Whole Life Policy With Long-Term Care Benefits

[ 2010-02-01]

ohn Hancock Life Insurance today announced the launch of LifeCare, a single-premium whole life insurance product that provides protection for both life and long-term care (LTC) insurance needs -- in a single policy. With LifeCare, John Hancock clients can reposition some of their assets into a policy that will help further protect their family with life insurance while also protecting their assets from the high costs of long-term care should they eventually need it. "John Hancock's LifeCare provides that a benefit will be paid regardless," said Steve Finch, President, John Hancock Life Insurance. "It may be a life insurance death benefit, it may be a long-term care insurance benefit or some combination of the two, but the client will be paid a benefit. In addition, if a client needs long-term care, the total benefit amount is typically several times greater than the premium paid. If they don't need it, or only need some care, the remaining death benefit goes to the beneficiaries." He added that LifeCare's strong cash values provide clients a liquidity option should they need it. http:/ / www.prnewswire.com/ news-releases/ john-hancock-launches-single-premium-whole-life-policy-with-long-term-care-benefits-83250757.html

The Penn Mutual Life Insurance Company Enhances Living Benefit Rider for Annuity Product

[ 2010-02-09]

The Penn Mutual Life Insurance Company, a more than 163-year-old company, is pleased to announce improvements to its Growth and Income Advantage Benefit (GIAB), one of the living benefits riders offered on variable annuity products. These enhancements offer clients the opportunity for increased accumulation potential and to effectively manage risk while providing security for retirement savings under dynamic economic conditions. Enhancements to Penn Mutual’s Growth and Income Advantage Benefit (GIAB), which provides guaranteed income growth along with the choice of two withdrawal options, include increases in the guaranteed accumulation rate for the withdrawal benefit base from 4% to 6% and the guaranteed withdrawal percentage for the lifetime income option from 4% to 5%. In addition to the Growth and Income Advantage Benefit (GIAB), Penn Mutual still offers the Purchasing Power Protector (PPP) rider, the only product of its kind that adjusts with changes in the U.S. Consumer Price Index, for which the withdrawal percentage will now vary based on the insured’s age at first withdrawal. For withdrawals taken prior to the age of 64 ½, the guaranteed annual lifetime withdrawal amount will be 4% of the withdrawal base. If the first withdrawal is taken on or after that age, the guaranteed annual lifetime withdrawal amount will be 5% of the withdrawal base. http:/ / eon.businesswire.com/ portal/ site/ eon/ permalink/ ?ndmViewId=news_view& newsId=20100209006897& newsLang=en

Allianz Life Offers a New Approach for Consumers with Allianz Pro V1 Annuity

[ 2010-02-11]

Allianz Life Insurance Company of North America (Allianz), today announced the launch of the Allianz Pro V1 AnnuitySM, a fixed index annuity that provides protection, guarantees, and - a first for Allianz Life fixed annuities – a bond index allocation strategy with the power of annual reset. “Consumers continue to tell us that they want more guarantees for their retirement savings as protection against the possibility of market volatility, but also quicker access to their money”. “Consumers continue to tell us that they want more guarantees for their retirement savings as protection against the possibility of market volatility, but also quicker access to their money,” said Eric J. Thomes, senior vice president of Sales for Allianz Life. “Allianz Pro V1 protects contract owners’ principal and credited interest, while providing access to the annuity’s full accumulation value after five contract years.” http:/ / www.insurancebroadcasting.com/ insurance-news-021110-15.htm

Transamerica Improves Retirement Income Solutions

[ 2010-02-01]

Transamerica Life Insurance Company (Transamerica) today introduced an enhanced withdrawal schedule for its Retirement Income Choice 1.2 and Retirement Income Choice 1.4 riders. New clients between ages 65 to 74 who begin taking withdrawals can now receive up to 5% of their withdrawal base annually for life, and those ages 75 and older can receive up to 6% of their withdrawal base. The new percentages -- a full point higher than previously available in some cases -- can help financial professionals aid their clients in gaining financial security in retirement. "We are committed to providing competitive products and innovative retirement income solutions while prudently managing our business," said Dave Paulsen, executive vice president and national sales manager for annuities at Transamerica Capital, Inc. "After careful consideration, we have decided that now is the right time for a product improvement that offers individuals additional assistance in meeting their goal of achieving a comfortable retirement." http:/ / www.forbes.com/ feeds/ businesswire/ 2010/ 02/ 01/ businesswire134790431.html

Individual Dental Insurance Now Available at Highmark Direct Retail Stores in Pittsburgh and Mechanicsburg

[ 2010-02-02]

Individuals and/or families can now purchase dental insurance at the Highmark Direct stores located in Pittsburgh and Mechanicsburg, Pa. iDental(SM), a product of United Concordia Dental, a Highmark subsidiary, offers five different plans geared toward the varying dental needs of college students, young families, senior citizens or anyone interested in purchasing portable, affordable dental insurance on their own. "Dental insurance serves a complementary role to the health insurance products that we have sold in our stores since we opened our doors last year," said Steven Nelson, senior vice president of Corporate Marketing & Consumerism at Highmark. "We know this product option will meet a real need for consumers. And a healthy mouth may help other areas of the body stay healthy. Research has shown that poor oral health, in particular the presence of gum disease, may be associated with a number of health problems, including heart disease, stroke, diabetes and some pregnancy-related conditions." Most of the iDental plans are designed to cover 100 percent of the cost of routine care, such as cleanings, exams and X-rays. Some plans also provide benefits for other covered procedures, such as fillings, crowns, dentures and implants. http:/ / www.prnewswire.com/ news-releases/ individual-dental-insurance-now-available-at-highmark-direct-retail-stores-in-pittsburgh-and-mechanicsburg-83346032.html

Sun Life Financial Enhances Masters Variable Annuities to Help Protect and Grow Retirement Income

[ 2010-02-18]

The U.S. division of Sun Life Financial Inc. recently announced enhancements to Sun Income Riser, an optional living benefit available with the Masters variable annuities. Sun Income Riser helps protect and grow retirement income and addresses the need for lifetime income. Clients purchasing Sun Income Riser with a Masters variable annuity can diversify assets with a new investment category called Core Retirement Strategies. This strategy is made up of four asset allocation funds—a portfolio from MFS Investment Management and PIMCO, and two portfolios from Ibbotson. These funds use dynamic market-risk optimization strategies that regularly reallocate in response to changing market conditions to help protect assets during volatile markets. In addition, clients can increase the benefit base available with Sun Income Riser by 7% annually for each year they do not take a withdrawal. The benefit base is used to calculate annual lifetime income. This feature is available for the first 10 contract years, and recently increased from 6%. The growth of the benefit base can help maximize the amount of income the client can receive in the future. http:/ / www.businesswire.com/ portal/ site/ home/ permalink/ ?ndmViewId=news_view& newsId=20100218006575& newsLang=en

Guardian Brings Income Protection to New Level with Student Loan Protection Program

[ 2010-02-22]

A unique program unveiled today by The Guardian Life Insurance Company of America (Guardian) enables medical and dental professionals to protect their ability to repay their student loans in the event they become disabled. Available only from Guardian, the Student Loan Protection Program uses the company's Business Reducing Term (BRT) policy, which is specifically designed to fund financial obligations that require periodic payments expiring at a given time. The new program will insure up to 100% of monthly loan payments -- up to $2,000 a month -- should a doctor or dentist become totally disabled. "We created this program at the suggestion of our agents, who reported that the greatest financial fear cited by their clients in residency programs or in newly established medical and dental practices is defaulting on their student loans if a disability prevents them from working," said Lawrence S. Hazzard, Vice President of Product Strategy at Berkshire Life Insurance Company of America (Berkshire), the Guardian company that issues individual disability income insurance and administers the BRT policy. http:/ / finance.yahoo.com/ news/ Guardian-Brings-Income-prnews-1500255.html?x=0& .v=1

Prudential Introduces Robust Nonqualified Plan Offering to Enhance Total Retirement Solutions Experience for Plan Sponsors and Participants

[ 2010-02-23]

Prudential Retirement announced today that its Total Retirement Solutions (TRS) offering has been enhanced to include a new nonqualified product that provides a wide variety of benefits for retirement-plan sponsors and their participants. Designed and administered by MullinTBG, a Prudential Financial company, the new TRS nonqualified program was developed to more effectively address the retirement-savings needs of today's executives and to provide companies with a cost-effective way to attract and retain top talent. The product is supported by experienced executive benefits specialists, and backed by state-of-the art recordkeeping and open-architecture funding vehicles. The new nonqualified capabilities are fully integrated with Prudential's systems and service model to deliver a comprehensive full-service solution with an attractive executive-benefits option. http:/ / www.marketwatch.com/ story/ prudential-introduces-robust-nonqualified-plan-offering-to-enhance-total-retirement-solutions-experience-for-plan-sponsors-and-participants-2010-02-23?reflink=MW_news_stmp

Simply Unum Expansions Build on Successful Foundation

[ 2010-02-23]

Simply Unum, the integrated benefits solution for small to mid-sized businesses, is now available in every state in the country, and offers new voluntary disability benefits and funding options in 40 states and the District of Columbia. On Monday, Simply Unum Launched in California, Hawaii and Maryland – the final three states in the national rollout of the benefits platform. And Simply Unum’s enhanced disability offering, which features voluntary disability coverages and flexible funding choices, expanded to 40 states and the District of Columbia on Monday after launching in limited markets in October. “The strong growth of this unique approach to benefits since its initial launch in late 2007 clearly shows us that employers are looking for an offering that combines benefits choice, funding flexibility, education and simple administration,” said Andrea Gordon, vice president of the Simply Unum National Practice. http:/ / www.businesswire.com/ portal/ site/ home/ permalink/ ?ndmViewId=news_view& newsId=20100223006335& newsLang=en