The Missouri insurance department has sued Central United Life Insurance Co. for allegedly dodging claims from clients with cancer.
Two recent cases involving New York City employees illustrate how retirement plan loan provisions are more complex than they first appear, and how violating any of them can lead to serious tax consequences.
A widow yesterday filed an arbitration claim with the Financial Industry Regulatory Authority Inc. against Ameriprise Financial Services Inc., alleging that a broker there failed to properly advise her aged husband on a variable annuity purchase and botched a beneficiary designation.
About 20% of the defined contribution plans administered by The Vanguard Group Inc. had adopted automatic enrollment by the end of last year, up from just 5% three years earlier, according to a recent study by Vanguard.
Mortgage interest deductions are the subject of recent examinations conducted by the Internal Revenue Service through the mail.
Variable annuities, whose sales and asset levels slumped during the market downturn, showed signs of a comeback in the second quarter, according to data from the Insured Retirement Institute.
Though rep recruitment is up at the John Hancock Financial Network since the firm decided to embrace the independent adviser channel, recruiters remain skeptical as to whether independents will continue to flock to the company.
Total individual-annuity sales tumbled during the second quarter as carriers' new business slowed and fixed-annuity interest rates fell, although sales for all fixed annuities fared better, according to data from LIMRA.
A new life insurance product from The Phoenix Cos. Inc. covers two lives under one policy, providing a death benefit for a spouse or business partner.
Although members of the insurance industry and some broker-dealer executives are butting heads with state regulators on tougher annuity regulation, financial advisers cheered the proposed use of Finra-esque suitability layers for all annuity sales.
The declining value of fixed-income portfolios in a climate of rising interest rates will hinder life insurers' performance over the next two years.
Retirement account holders at the Principal Financial Group Inc. can now receive weekly text messages outlining their 401(k) balances.
A Swiss banker and a lawyer are the latest to face U.S. criminal charges in a wide-ranging international tax evasion investigation.
The Swiss government said today it made a profit of 1.2 billion Swiss francs ($1.1 billion) from the sale of its stake in UBS AG, a day after concluding a deal that appears to end the bank's yearlong tax-evasion battle in the United States.
Henry Waxman, chairman of the House Committee on Energy and Commerce, is asking executives at Genworth Financial Inc., The Guardian Life Insurance Company of America and MetLife Inc. to produce details on executives' pay.
American International Group Inc. has named Jay S. Wintrob president and chief executive of its Domestic Life and Retirement Services business.
Florida Atlantic University's College of Business yesterday stripped life insurance guru Barry Kaye's name from the school, according to published reports.
While Swiss banking giant UBS AG has agreed to release information on 4,450 client accounts to settle a contentious lawsuit with the Internal Revenue Service that centered on alleged offshore tax evasion by the bank's clients, the IRS said that it may eye other banks for similar activities.
Advisers across American International Group Inc.'s three broker-dealers were stunned to learn that — contrary to all prior indications — the sale of the insurer's broker-dealer network would be scrapped.
A new life insurance product from The Phoenix Cos. Inc. covers two lives under one policy, providing a death benefit for a spouse or business partner.
