Annuities

Regulator Group Moves To Reign In Secondary Market For Annuities

Life insurers and life settlement professionals are taking opposite sides over a model state regulation that would let deferred annuity carriers terminate a living or death benefit if a policy owner sells the annuity in the secondary market.

Variable Annuity Guarantees: What Went Wrong & What's Next

The broad decline in financial markets worldwide had a significant impact on the insurance industry. Asset-intensive financial products, such as variable annuities with guarantees, have presented various challenges for insurance companies. In 2008, market declines and the ensuing market volatility resulted in losses even for companies with the most sophisticated market risk management programs, as unhedged residual risks took a toll on statutory surplus.

Actuary Reviews Illustration Proposal

Insurers that try to illustrate annuity performance graphically should provide at least 2 standard illustrations, veteran actuary Steven Ostlund of the Alabama DOI has recommended in a comment letter submitted to the NAIC's Annuity Disclosures Working Group.

Milliman: Combo LTC annuities: Here they come

The Pension Protection Act of 2006 included some key provisions that addressed for the first time the taxation of combination annuity plans featuring long-term care insurance (LTCI). The rules apply only to nonqualified annuities coupled with tax-qualified long-term care riders.

Replicating Portfolios With Variable Annuity Hedging

The European life insurance market has recently shown great interest in unit-linked products with investment guarantees (ULGs), commonly referred to in the U.S. and Canada as variable annuities.

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