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November 2, 2012
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News covering the insurance and financial advising industry

  Top Story 
  • Presidential race has implications for fiduciary fight
    The U.S. Labor Department's efforts to impose tougher fiduciary standards on retirement investment advisers could essentially be settled on Election Day, experts say. Re-election for President Barack Obama would be read as a mandate for tougher regulations, while a win by Republican Mitt Romney would likely end the reform effort. InvestmentNews (free registration) (10/30) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • Study: Most middle-income earners save little for retirement
    Among U.S. workers who make $40,000 to $99,999 a year, two-thirds put less than 5% a year into retirement savings, and 85% save less than 10%, LIMRA said. About a quarter of middle-income workers 55 and older are saving nothing at all, according to LIMRA. "These results, while not surprising, are very troubling. Many Americans will live at least 20 years in retirement, and will need significant savings to ensure their financial security," LIMRA's Matthew Drinkwater said in a statement. (11/1) LinkedInFacebookTwitterEmail this Story
  • Survey finds a lack of discussion on life insurance needs
    An ING survey found that although 78% of respondents consider life insurance an important financial tool, 54% of parents haven't calculated their family's coverage needs. In addition, 45% of those who are married have little to no discussion about death and life insurance, the survey found. The cost of coverage is a concern for more than half those without life insurance, ING said. Employee Benefit News (11/1) LinkedInFacebookTwitterEmail this Story
  • Prospectus is crucial in understanding variable-annuity benefits
    The ideal candidate for variable life insurance and annuities is comfortable with the products' risks and with making investment-portfolio selections, Charles Osmond writes. It's essential for a client to read each product's prospectus carefully to discern income guarantees, death benefits and tax advantages to make sure the product meets his or her financial needs, he writes. Life Insurance Selling magazine (11/2012) LinkedInFacebookTwitterEmail this Story
  • Opinion: LTCI carriers should help survivors of natural disasters
    Hurricane Sandy and its remnants have given long-term-care insurance carriers an opportunity to consider how they might diminish the impact of future natural disasters on their elderly clients, Allison Bell writes. Bell suggests that insurers offer assistance services, work with other businesses and organizations to contact those who may need help, and invest in equipment to provide phone-charging stations in case of power outages. National Underwriter Life & Health (11/1) LinkedInFacebookTwitterEmail this Story
  Investment Trends 
  Policy Watch 
  • Opinion: Either outcome of election will challenge retirement industry
    The outcome of the presidential race promises no easy way forward for the retirement industry, as the major parties' ideas all pose challenges for the industry, lawyer Derek Dorn writes. "[R]egardless of whether 2013 begins a second term for Obama or a first term for Romney, the retirement industry will be playing considerable defense in the years ahead. But the Nov. 6 outcome will shape which battles are most likely to be fought," Dorn writes. Pensions & Investments (free registration) (10/31) LinkedInFacebookTwitterEmail this Story
  • Higher taxes would hurt retirement savings, boomers say
    More than half of baby boomers say they'd put less money away for retirement if their income-tax rate increased, according to a survey by the Insured Retirement Institute and Welfel Research. About 4 in 10 boomers also said they'd save less if the capital-gains-tax rate increased. InvestmentNews (free registration) (10/31) LinkedInFacebookTwitterEmail this Story
  Building Your Business 
  • What financial advisers can learn from Sandy
    Financial advisers who weathered Hurricane Sandy and other natural disasters said they learned four important lessons. Before a disaster strikes, advisers should help clients become comfortable with online meetings; buy a generator to provide backup power; emphasize to clients the importance of documenting even small amounts of property damage; and electronically back up client documents at several secure locations. Reuters (10/31) LinkedInFacebookTwitterEmail this Story
  NAIFA News 
  • Dr. Susan Waters on Hurricane Sandy
    Our thoughts are with NAIFA members and their clients in the Mid-Atlantic region, as well as everyone else affected by the devastation of Hurricane Sandy. Here in the Washington, D.C., area we escaped much of the storm's impact. Yet we know many of our friends and colleagues along the coast and in New York and New Jersey are not so lucky. Read more from Dr. Waters on The NAIFA Blog. LinkedInFacebookTwitterEmail this Story
  • Special T-Mobile November savings
    NAIFA members can enjoy recently lowered prices on several T-Mobile devices from now until Nov. 13 including the Samsung Galaxy SII for free (previously $129.99) and the Samsung Galaxy SIII for $124.99 (previously $229.99). This offer is not available in stores or online. To start saving today, call 866-464-8662 and use promo code 15224TMOFA, and don't forget to mention you are a NAIFA member. LinkedInFacebookTwitterEmail this Story
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Be daring, be different, be impractical, be anything that will assert integrity of purpose and imaginative vision against the play-it-safers, the creatures of the commonplace, the slaves of the ordinary."
--Cecil Beaton,
British photographer and costume designer

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