Latest Articles

Allianz Summit II Annuity Turns a ''Down'' Upside Down

[ 2008-06-17]

Allianz Life Insurance Company of North America (Allianz) today introduced the ALLIANZ SUMMIT IISM annuity, an innovative fixed index deferred annuity that offers interest credits when the change in the blended index is positive or negative. "Given recent fluctuations in the financial markets, consumers are increasingly looking for lower risk options to strengthen their financial positions and plan for the future," said Tom Burns, chief distribution officer for Allianz. "With Summit II, Allianz offers them an opportunity to increase the value of their annuity even when the blended index is down." Summit II can create a win-win situation for the consumer. The amount of indexed interest a Summit II annuity earns during the first 10 contract years is determined through 5-year point-to-point crediting. For this method, Allianz captures the value of the blended index the day before the first day in the five-year period and on the last day during that same period. http:/ / www.pr-inside.com/ allianz-summit-ii-sm-annuity-turns-a-r645270.htm

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Prudential Delivers Comprehensive Voluntary Benefits Strategies and Services Designed to Enhance Overall Client Experience

[ 2008-06-23]

As the role and importance of voluntary benefits continues to grow, with increased cost implications for both employers and their employees, Prudential Financial, Inc.’s Group Insurance business announced today enhancements to its voluntary benefits service platform designed to make it easier for businesses to offer and administer cost-effective benefits solutions. “The voluntary benefits industry has evolved in recent years, as plan sponsors have shifted greater financial responsibility and decision making to their employees for their insurance and retirement benefits,” said James Gemus, vice president of Life Product Management for Prudential’s Group Insurance business. “Plan sponsors are looking for insight into how to better communicate to and educate their employees on benefit plan offerings. These employers view web technology, as well as customized enrollment support and materials as vital components in meeting the needs of their employees.” http:/ / biz.yahoo.com/ bw/ 080623/ 20080623005144.html?.v=1

UnitedHealthcare Specialty Benefits Extends Coverage to ViziLite Plus, Zila's Oral Cancer Screening Product

[ 2008-06-19]

Zila, Inc. today announced that UnitedHealthcare Specialty Benefits began extending coverage for ViziLite Plus with TBlue, Zila’s innovative screening device for the early detection of oral abnormalities that could lead to cancer. "With UnitedHealthcare Specialty Benefits making oral cancer screening with ViziLite Plus a benefit, more than 21 million lives are now covered," said David Bethune, chairman and chief executive officer of Zila. "UHSB is joining a growing list of premier national insurance plans that provide coverage for ViziLite Plus, including Cigna, Humana, Guardian and Safeguard, as well as a number of regional plans and self-insured employers." http:/ / biz.yahoo.com/ bw/ 080619/ 20080619005988.html?.v=1

Aviva USA Announces Extension of Relationship With Mayo Clinic Health Solutions to Support “Wellness for Life,” a Unique Life Insurance Product Designed to Personally Reward People for Staying Healthy

[ 2008-06-11]

With the launch of the innovative “Wellness for Life” program, Aviva is embarking on a mission to redefine how customers think of life insurance, and they’re doing it in good company. Aviva USA, part of Aviva plc, the world’s fifth-largest insurance group, announced today that it is working with the Mayo Clinic’s esteemed Health Solutions group to bring the new insurance program to life. Designed to reward people for taking proactive steps to stay healthy, Wellness for Life is an exclusive life insurance program meant to encourage healthy living, increase life expectancy and potentially reduce the cost of insurance for participants. With its patent-pending Wellness for Life program, Aviva is the first U.S. life insurance company to link a broad individual accountability system to a life insurance policy. http:/ / www.businesswire.com/ portal/ site/ google/ ?ndmViewId=news_view& newsId=20080611005403& newsLang=en

Colonial Life Number Two in Worksite Sales

[ 2008-07-07]

Colonial Life & Accident Insurance Company is the nation's second-largest seller of employee benefits at the workplace, according to Eastbridge Consulting Group's 2007 U.S. Worksite Sales Report. Colonial Life ranked second on the annual study's list of 2007 worksite companies with new sales premium of $334.9 million last year, worth a market share of 7.2 percent. "Colonial Life has been an industry leader for nearly 70 years," said Randall C. Horn, the company's president and chief executive officer. "These results show our customers and partners continue to value our proven expertise as a company that can help make their benefits count." Colonial Life passed the $1 billion mark in inforce premium for the first time last year. The company's inforce premium grew by 6.8 percent to $1.03 billion, ranking it fourth among worksite carriers. http:/ / biz.yahoo.com/ prnews/ 080707/ clm043.html?.v=101

Unum Expands ''Simply Unum'' Offering to 41 States

[ 2008-06-26]

With the addition of 23 states in June, Unum has expanded the availability of its next-generation benefits offering, Simply Unum, to 41 states nationwide. The nationwide launch began in April after a highly successful pilot phase during which sales for Simply Unum were nearly 60 percent ahead of projections. To date, nearly 1,000 lines of coverage have been sold through the Simply Unum offering, and it is receiving praise from the brokerage community. “Unum is offering a benefits program in which they are the sponsor, the administrator, the communicator and the answer place when someone has questions,” said Dave Stetler, principal at Stetler Associates in Westlake, Ohio. “That’s the thing that makes Simply Unum unique in the marketplace today – nobody else is bringing them together in a consolidated package.” Designed specifically for small to midsize businesses, Simply Unum provides a base of group disability and life insurance coupled with voluntary benefits. With more than 28,000 product combinations possible, an employer can offer benefit options that best meet the specific needs of their workforce at a price that doesn’t strain the bottom line. It operates on a single technology platform, creating one path from benefit package design to quoting to enrollment to ongoing billing and administration. http:/ / biz.yahoo.com/ bw/ 080626/ 20080626005836.html?.v=1

Blue Cross and Blue Shield of Georgia Introduces New Individual Products

[ 2008-06-24]

Today, Blue Cross and Blue Shield of Georgia (BCBSGa) introduced two suites of PPO products called SmartSense and Premier that will provide Georgians with more affordable options for individual insurance. The SmartSense plan is designed for consumers who are price conscious and want solid protection to cover the essentials. "Georgians who are seeking a health plan that offers affordability and provides coverage for routine services that can help them improve or maintain their health, now have another option, with premiums for SmartSense ranging from as little as $36.82 to $175.64 per month for a healthy 25-year-old male," said Monye Connolly, president of BCBSGa. The SmartSense plans provide coverage for up to three physician office visits a year before a member has to meet a deductible, some preventive benefits and a choice of prescription drug coverage options. http:/ / finance.boston.com/ boston?GUID=5824554& Page=MediaViewer& ChannelID=3197

Independence Blue Cross and Temple Health reach coverage agreement

[ 2008-06-20]

Independence Blue Cross and Temple University Health System reached an agreement on a new multiyear contract Friday. Independence Blue Cross and Temple University Health System reached an agreement on a new multiyear contract Friday. The contract includes a pay-for-performance program that will pay Temple more for delivering increasingly high-quality health care to IBC members. The approach measures quantitative criteria that improve patient safety performance and quality of care, such as minimizing hospital-acquired infections and reducing surgical complications. http:/ / www.bizjournals.com/ philadelphia/ stories/ 2008/ 06/ 16/ daily40.html

Sun Life Financial Introduces Retirement Blueprint Program to Educate, Prepare Advisors for Income Needs of Baby Boomers

[ 2008-06-25]

The U.S. division of Sun Life Financial Inc. today introduced Retirement Blueprint,(SM) a unique value added program designed to help advisors build their business by enhancing their income planning skills, and engaging clients in the retirement income conversation and planning process. "Financial advisors have helped clients accumulate significant assets. But with a shift to spending underway, the rewards can be immense for advisors who are prepared to become the 'one advisor' clients turn to for their retirement income strategy," said Mike Shunney, President of Sun Life Financial Distributors, Inc., the company's annuity distribution organization. Because 96% of clients plan to consolidate all assets with one advisor, the Retirement Blueprint program is well positioned to help advisors build their business while helping their clients achieve their dream retirement. The program provides the step-by-step process and tools needed to engage clients in a discussion about lifetime income and successfully address client needs, wants, and dreams as they prepare for retirement. http:/ / www.marketwatch.com/ news/ story/ sun-life-financial-introduces-retirement/ story.aspx?guid=%7B7768F216-F498-473E-B811-C3C04771380E%7D& dist=msr_19

AIG SunAmerica Benefit First to Combine Upside Potential of Equity Markets with Guaranteed Rising Retirement Income Even When Investors Take Withdrawals

[ 2008-06-05]

AIG SunAmerica Retirement Markets, Inc. today announced an industry first with the introduction of MarketLock Income Plus - an optional withdrawal benefit in select AIG SunAmerica variable annuities that provides investors with the upside potential of the equity markets and lifetime income that's guaranteed to increase for up to 15 years - even in years when withdrawals are taken or the market declines. "Today's economic conditions and market volatility have many investors looking for solutions to help them retire stronger by providing the income they need to help keep up with rising costs," said Jana Waring Greer, President of AIG SunAmerica Retirement Markets, Inc. "We have found that nearly 85% of investors over the age of 50 want strategies that can deliver rising income - when and how they need it - regardless of what happens in the markets. By providing the assurance that lifetime income can grow even after retirees start taking income, AIG SunAmerica is at the forefront of the industry in meeting this need." MarketLock Income Plus was designed for investors who need income right away or in the near future, but also want their income to continue to grow and last for the rest of their lives. MarketLock Income Plus is a guaranteed minimum withdrawal benefit (GMWB) that automatically "locks in" an investor's market gains or an annual income credit of up to 7%, whichever is greater. Unlike other GMWBs on the market today, MarketLock Income Plus offers investors an annual income credit even in years in which they take withdrawals. For example, if an investor takes a 5% withdrawal, this percentage is simply deducted from the 7% annual income credit on the next contract anniversary. Thus, an investor's income goes up 2% even if the market is flat or drops, and it will not go down due to market volatility. http:/ / biz.yahoo.com/ bw/ 080605/ 20080605005569.html?.v=1

Genworth Financial Subsidiary Insurance Companies Launch IRA Variable Annuity

[ 2008-06-30]

Genworth Life and Annuity Insurance Company and Genworth Life Insurance Company of New York, subsidiaries of Genworth Financial, Inc. have launched a new RetireReady IRA Annuity product. The IRA Annuity is a new retirement product that successfully combines the traditional benefits of an IRA with the ability to provide a guaranteed income stream that only an annuity can provide. This contract can only be issued as, and must be maintained as, an IRA, Roth IRA or SEP IRA contract or within such qualified accounts. The new product is insurance with underlying portfolios that include well-known retail mutual funds. Retail mutual funds have until now only been available within a very small number of variable annuities, and with limited distribution. The IRA Annuity is targeted for all major financial advisor channels of distribution. Financial advisors have confidence in knowing the portfolio management stories behind certain mutual funds, so the retail mutual fund feature should be well received. http:/ / www.tradingmarkets.com/ .site/ news/ Stock%20News/ 1724180/