Annuity suitability law: Coming to your state soon

In 2010, the NAIC enacted the Suitability in Annuity Transaction Model Regulation to promote consumer understanding and help address complexities and improper sales practices in the annuity transaction process. The regulation requires insurers to establish a system to supervise recommendations and to set forth standards and procedures for recommendations to consumers that result in transactions … Continue reading

RMDs: A clear and present danger to a retirement plan

RMDs are dangerous to seniors’ financial health. The solution? A lifetime income annuity. Although they might claim that they are here to help boomers and seniors retire, are you sure that the government’s “retirement plan” is the best option for your clients? At age 70-and-a-half, all seniors have to take RMDs (Required Minimum Distributions) from … Continue reading

Baby Boom retirees rely more than ever on personal savings to sustain retirement income

The New Savings Paradigm By Christopher J. Cummings and Shawn E. Sanderson for November 2012 issue of Life & Health Advisor Mr. Sanderson is an Investment Consultant with Manning & Napier. His primary responsibilities include contributing to the firm’s Life Cycle consulting efforts. Mr. Cummings, CFP, CFA is the Managing Director of the Client Analytics … Continue reading

Retirement Strategies That Beat Father Time

How deferred income annuities can be a powerful option in creating a successful retirement plan. While most people refer to him as Father  Time, in the financial industry we have a more accurate, yet slightly less friendly, name for him: longevity risk. If longevity risk—the risk of outliving one’s money—was an easy problem to solve, … Continue reading