In the Wall Street Journal, Anne Tergensen highlighted a new trend in annuities: longevity policies. Unlike standard annuity products, this investment only begins payouts at a certain advanced age (usually 80 or older). When payments do begin, annual payments are higher. As a result, you …
The Michael White-Symetra Bank Fee Income Report was recently released, revealing the banks that earned the most combined income in mutual fund and annuities fees during the first three quarters of 2008. Bank of America ($1.42 billion) Wachovia Wells Fargo U.S. Bank JPMorgan Chase According …
Ieva M. Agustums from the Associated Press recently reported on the insurance industry’s hard year, exhibited by several important indices. The Dow Jones U.S. insurance index decreased 51% over 2008. Another index that includes 24 national insurance companies, the KBW Insurance Index, is down almost …
ING Group is reorganizing its American wealth management business, says Darla Mercado of InvestmentNews. The Dutch firm is dividing its U.S. unit into separate divisions for annuities, retirement services, investments, and insurance. ING’s largest businesses are its retirement and annuity units. Darla also reports that …
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