Summary prospectuses for variable annuities are supposed to help consumers make informed decisions about buying these complicated investments
Insurer looks to roll back payout, withdrawal percentages on Highest Daily Lifetime 6 Plus product; puny interest rates to blame?
MetLife Inc.'s announcement last week that it will stop writing new long-term-care insurance shocked advisers, raising fears that rates will rise for existing blocks of business and that other carriers will exit the industry.
State insurance regulators are not likely to approve John Hancock's recently announced long-term-care rate hikes, denting third-quarter profits for the insurer's parent company, Manulife Financial Corp., according to analysts.
Average premium for existing policyholders could go up by 40%; 'lot of explaining' to do
The costs of long-term-care continue to rise, although at a slower pace than before the economic slowdown as nursing homes and home health care providers reduce charges.
Settlement provider lowers advertised rate of return from 12% to 7%; litigation ahead?
A machinery manufacturer last week sued New York Life Insurance Co., claiming it had lost money in variable universal life policies that were invested in funds linked to the Madoff scandal. Experts say similar suits are likely to follow.
New York Life Insurance Co. has kicked off a program that will allow agents to meet the tougher fiduciary requirements set by the Labor Department
High hidden fees, long surrender periods just some of the pitfalls, argues ex-Treasury official Smetters; insurers, agents beg to differ
Manulife Financial Corp.'s pre-crisis decision to scrimp on hedging for its variable annuities book appears to be coming back to haunt the Canadian company.
American International Group Inc. is at a point in its recovery where the insurer's next chief executive will be able to focus on running day-to-day operations rather than crisis management, observers said.
Notwithstanding a recent crackdown by the SEC, the market for life settlements — which froze during the credit crisis — is beginning to warm up
Claim life settlement provider harmed investors by using flawed actuarial statistics
Prudential Financial Inc. has taken the crown as the biggest seller of variable annuities and overall individual annuities in the U.S. through the first half of this year, according to data released today by LIMRA.
Insurer aiming to regain independence; market conditions the wild card
A federal court judge in California has ruled against Conseco Life Insurance Co. in a class action, barring it from hitting some 50,000 policyholders with sky-high rate increases on life insurance policies.
