February 5, 2016
Yesterday, Genworth Financial announced its decision to suspend all sales of traditional life insurance and fixed annuities; however, they will continue to manage their inforce block.
At present, Genworth has not announced the transition rules but we will communicate those as soon as they do so. I have attached Genworth’s message to its customers, distributors, and partners. View the press release for more information.
Should you have any questions please contact Tom Merrion via email or at 847-598-0032.
January 19, 2016
Prudential’s Survivor Center is a resource for your clients after the unthinkable happens. This tool includes emotional support resources, legal and financial advice, funeral planning, and a checklist to help them prepare for the months ahead.
October 29, 2015
by Dale Marshall, Demand Media
Although annuities have long been seen as tools for protecting assets from lawsuits and creditors in the U.S., the term “asset protection” today nearly always refers to the sheltering of family assets from the spend-down requirements of Medicaid, most often with respect to payment for nursing home care. The federal Deficit Reduction Act of 2005 set forth standards for specific annuity strategies couples can use to shelter some of their excess assets from spend-down requirements.
An annuity is a contract with an insurance company. The consumer pays the company a lump sum of money on which the company pays annual interest in accordance with the contract’s specifications. After a predetermined time, often more than 10 years, the annuity matures and may be paid out as a lump sum to the owner. An alternate arrangement is for the owner to annuitize the annuity, converting the balance into a monthly income stream, usually guaranteed for life.
December 12, 2013
New research reveals that nearly half of retirees retire sooner than planned, a percentage at odds with expectations of most pre-retirees.
Genworth Financial reports the findings in a new study, “The Future of Retirement Income.” Based on online surveys of 1,340 retired consumers and pre-retirees, and 300 financial professionals, the report explores the state of retirement income planning.
Read the Full Article