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All About Annuities » Says

L&G Says U.K. Annuities to Shink 76% After Budget Plans

L&G Says U.K. Annuities to Shink 76% After Budget PlansNews from Bloomberg: Legal & General Group Plc (LGEN) predicts Britain’s 11.9 billion-pound ($ 19.7 billion) annuity market will shrink by 76 percent because of U.K. Chancellor of the Exchequer George Osborne’s proposed changes to the industry. The individual annuities market, a key source of domestic [...]

Great-West Says New Products Can Fill U.K. Annuities Gap

Great-West Says New Products Can Fill U.K. Annuities GapNews from Bloomberg: Great-West Lifeco Inc. (GWO), Canada’s second-largest life insurer, plans to offer different retirement products in the U.K. if a change in regulation discourages purchases of annuities. U.K. Chancellor of the Exchequer George Osborne said this week that he was scrapping a rule requiring retirees [...]

We will tackle rip-off annuities, says minister

We will tackle rip-off annuities, says ministerNews from Telegraph.co.uk: He called on the Government to ensure “the people who are punished are those in the institutions responsible and not the bodies themselves, which pass on the costs to their long-suffering customers”. Each year 400,000 savers retire and turn their pension pots into annuities, an insurance [...]

Lincoln CEO Says Smart Money in Annuities Affter Buffett

Lincoln CEO Says Smart Money in Annuities Affter BuffettNews from Bloomberg: Dennis Glass, chief executive officer of life insurer Lincoln National Corp., said intelligent investors are backing variable annuities after Warren Buffett’s Berkshire Hathaway Inc. bet on retirement products this week. “We’ve seen some acquisitions of blocks, and some reinsurance transact…………… continues on Bloomberg … [...]

Dissenter on Variable Annuities Says Advisors Don’t Understand What They’re …

Dissenter on Variable Annuities Says Advisors Don’t Understand What They’re …News from AdvisorOne: This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers, click the “Reprints” link at the top of any article. Reducing the tax incentives to participate in 401(k) plans–one idea the [...]

Who says annuities are just for the old?

Who says annuities are just for the old?News from LifeHealthPro: This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers, click the “Reprints” link at the top of any article. Photo credit: stockimages Think of annuities as only an old person’s product? Think again. [...]

Low Rates May Be ‘Devastating’ to Annuities, Group Says

Low Rates May Be ‘Devastating’ to Annuities, Group SaysNews from Businessweek: Bond yields will put pressure on sellers of annuities if interest rates remain near record lows, Robert Kerzner, chief executive officer of industry group Limra, said today at a conference. “If long-term rates stay where they are, it would be devastating for our industry,” [...]

Annuity Calculator: Printing Money Not Affecting Annuities, Says Webb

Annuity Calculator: Printing Money Not Affecting Annuities, Says WebbNews from PensionCalculator.org: Pensions minister Steve Webb has said that the Bank of England’s quantitative easing scheme has not led to the fall in annuity rates. The pensions minister made the remarks after MPs told ministers that the quantitative easing scheme, which involves printing new money, was [...]

Regulator says annuities must be sold on advised basis

Regulator says annuities must be sold on advised basisNews from FT Adviser: Variable annuities should only be sold based on advice by a qualified person, the European Insurance and Occupational Pensions Authority has argued in a new report on best practice for life and pensions firms. Eiopa found that even where an annuity is sold [...]

Annuities Gain In Popularity, Study Says

Annuities Gain In Popularity, Study SaysNews from Financial Advisor Magazine:Investors are asking their advisors about annuities, rather than the other way around, which challenges the conventional wisdom that says it is the advisors who bring up the idea first, says a new joint study about the annuity industry. The increasing interest in annuities and guaranteed [...]