The insurer yesterday received preliminary clearance to accept approximately $3.4 billion in federal aid.
Retirees would be able to take a portion of their retirement savings in the form of an annuity if a bill introduced today by Rep. Earl Pomeroy, D-N.D., were passed into law.
U.S. retirement assets were down 22% at the end of 2008, compared with yearend 2007, according to a report released yesterday by the Washington-based Investment Company Institute.
While the majority of small businesses do not think the economy will affect their ability to offer a 401(k) retirement plan, 44% said they may have to reduce or stop matching employee contributions, according to a survey released today by Nationwide Financial Services Inc. of Columbus, Ohio.
Making a case for long term care insurance can be a challenge under any circumstances.
Mindful of past disasters with long term care insurers, financial advisers have found ways to balance financial viability with quality benefits.
Advisers are struggling to get clients — especially baby boomers — to think about funding long term care in the face of depleted investment portfolios.
Financial advisers who cater to workers in the automotive industry are scrambling to prepare their clients for the onslaught of job losses that will follow General Motors Corp.'s filing for bankruptcy protection last week.
Many financial decisions are made around the dinner table rather than a conference table, according to one financial planner and foodie who believes in presenting financial planning concepts in a more digestible way.
A New York Congressman has introduced a bill that will try to preserve state authority over indexed annuities, pushing back against a recent rule from the Securities and Exchange Commission.
Bermuda-based reinsurer RenaissanceRe Holdings Inc. said today that it will buy Spectrum Partners Ltd. to help it operate better in London and meet increased demand.
Sen. Herb Kohl, D-Wis., chairman of the Senate Special Committee on Aging, questioned regulators and representatives of the long term care insurance industry at a committee hearing yesterday and focused on the financial viability of LTC insurers.
Ramani Ayer, chairman and chief executive of the Hartford (Conn.) Financial Services Group Inc., said today that he will step down by the end of the year.
The IRS is working on new rules that could require paid tax preparers to be licensed to improve tax compliance and reduce fraud, IRS Commissioner Doug Shulman announced today.
Your client is considering either a surrender or sale of a life insurance policy and asks about the income tax consequences.
As some insurers recently made stock and debt offerings in lieu of participating in the government’s Troubled Asset Relief Program, Moody’s Investors Service said that it will review the way these recapitalization options affect carriers’ ratings.
Money managers saw assets sold through unaffiliated third-party defined contribution record keepers shrink less than their retail mutual funds last year, according to a report released yesterday by Boston-based Financial Research Corp.
John Hancock Financial Services today released a variable annuity called the John Hancock AnnuityNote.
The Department of the Treasury's recently re-leased “Green Book” describes in detail the revenue proposals contained in the president's budget for fiscal-year 2010.
Two bills that would transform the way insurance agents are licensed and regulated are likely to face a difficult time in the Senate, according to insurance industry officials.
