> AVON, Conn.–(BUSINESS WIRE)– Voluntary critical illness sales have increased significantly over the past two years after several years of slow or no growth. In fact, the line doubled from 2007 to 2009, according to an Eastbridge study. New voluntary critical illness sales for 2009 were about $225 million. Still, critical illness sales only account for about four percent of the industry’s overall sales and continue to be outpaced by cancer sales. < Full Article…
>New 2010 Survey from Profit Sharing/401k Council of America Shows Resilience of 403(b) Sponsors and Participants
DES MOINES, Iowa–(BUSINESS WIRE)– Despite a potentially crushing recession and a spate of complex new regulations, the 403(b) retirement plan system appears to be healthier than ever.
Findings of the just-released 2010 403(b) Plan Survey from the Profit Sharing/401k Council of America (PSCA) indicate that plan sponsors are adjusting well to the new regulations imposed by the IRS —and that participation and retirement account balances remain high. <
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WINDSOR, Conn., May 10, 2010 — The majority of financial advisors feel guaranteed income products are too complicated and seek materials and support from wholesalers and companies to help explain the products to their clients, according to a recent study conducted by LIMRA.
“Most advisors said that retirement income planning is taking a more prominent role in their practices,” said Matthew Drinkwater, associate managing director, LIMRA Retirement Research. “The
May 10th, 2010Life Settlements Up Sharply in Index
align=”justify”>The Amrita Life Settlement Index results in April showed a surprising turnaround from the previous month’s steep decline. The index climbed 92.8 points, from 324.6 to 417.4. The 28.6 percentrise was due to a sharp increase in market activity and renewed bullish expectations.
Surveys received from life settlement providers gave several indications of a strengthening secondary life insurance market. Providers reported a month over month increase in the number of cases in which they made offers. I
May 10th, 2010Despite Fears, Americans Aren’t Protecting Themselves
>The Principal Financial Group promotes Disability Insurance Awareness Month in May
DES MOINES, Iowa–(BUSINESS WIRE)– Three-fourths of workers rate the emotional impact of becoming disabled and not being able to work for a living as high, according to the latest results from the Principal Financial Well-Being IndexSM. These workers gave it at least an eight on a 10-point scale in which 10 means “devastated.”
Yet, nearly half (49 percent) don’t own or plan to buy disability insurance in the next year and say instead they plan to rely on their family, disability insurance from their employer or savings in the event of a disability.
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>NEW YORK, May 12 /PRNewswire/ –The Guardian Life Insurance Company of America (Guardian) today announced that it will now offer critical illness coverage to companies with as few as two employees. As employers look for ways to control healthcare premiums and high deductible plans continue to grow in popularity, Guardian has responded by combining critical illness insurance with a hospital rider to create a relatively affordable financial protection package that helps employees to overcome medical deductible hurdles.
“Guardian has one of the most flexible product line-ups for both large and small businesses,” says Clancy Merrill, Executive Director of Small Group Sales.
>COLUMBIA, S.C., May 12 /PRNewswire/ — BlueCross BlueShield of South Carolina announces that Chairman and CEO M. Edward Sellers plans to retire as CEO, effective August 1, 2010, and that current President and COO David S. Pankau has been named president and CEO, also effective on August 1, 2010. Sellers will continue as chairman of the board.
Sellers, age 65, has been with Blue Cross and Blue Shield for 32 years, including 23 years in South Carolina. He has been CEO since 1992 and chairman since 2001.
May 10th, 2010AIG Posts $1.45 Billion Profit for First Quarter
After raking in an impressive $1.45 billion quarterly profit, AIG says it is on its way to repaying the $182 billion government bailout it received in 2008 and 2009. The company already laid out a bailout repayment plan in April in hopes of showing how serious it is in paying back its debts to taxpayers. Now the life insurance company says that its recent profit could make its goal a greater reality.
First Quarter a Good One for AIG
AIG saw a first quarter income of $1.45 billion ($2.16 per share), which compares to a loss of $4.35 billion a year earlier, the company said on Friday.