The National Association of Insurance Commissioners is forming an executive-level committee to standardize rate increases across states for long-term-care insurance, President Eric Cioppa says. Regulators in some states have been reluctant to approve large increases, even when insurers show actuarial justification.
The next bear market that is followed by a recession is likely to be more painful than the last one, especially for baby boomers, John Mauldin writes. He recommends baby boomers save more and use investment and trading strategies that can mitigate losses in a bear market.
A good way to sell disability insurance is to pivot to the product during discussion of a familiar product, such as life insurance, writes Jill Frohardt of The Standard. Frohardt outlines how to position the need and offers tips for starting the conversation.
Recent guidance making it clear that pension plans are allowed to offer lump-sum distributions is welcome but not likely to trigger a rush to offer the distributions, industry experts say. In some cases, the offers are to the plan's disadvantage because people who are in poor health take the distributions and people who are in excellent health keep their annuities, Mercer's Matt McDaniel said.
The 401(k) solution isn't doing enough to provide secure retirements, and employers are often concerned about the costs of offering these plans. John Scott looks at three promising alternatives: state-level programs, cost-sharing group plans for employers and new savings entities for contingent or independent workers.
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A report from Moody's Investors Service predicts passive funds will attract more investment than active equivalents by 2021, citing improvement in technology. Annual outflow from actively managed funds reached a record high in 2018, according to data from the Investment Company Institute.
The Securities and Exchange Commission's advertising rule is out of touch with the way the world works, so the SEC will soon issue amendments, says Dalia Blass, director of the Division of Investment Management. The rule hasn't been rewritten since the 1960s, although the SEC has published guidance since.
Tax mistakes regarding nondeductible IRA contributions are common, and advisors should help clients avoid them, Tim Steffen of Baird writes. He notes that clients frequently ignore reporting nondeductible IRA contributions on Form 8606 "because they assume the 1099-R in the year of the withdrawal will show that the withdrawal is tax-free."
A person saying, "I already work with an advisor," doesn't have to be a conversation ender, writes Bryce Sanders of Perceptive Business Solutions. He offers 10 ways to reply that could set the advisor up to gain the prospect's business in the future.
Voicemails are a chance for advisors to "showcase professionalism," suggest Stephen Boswell and Kevin Nichols of The Oechsli Institute. They offer five tips for effective voicemails, including leaving enough intrigue that a prospect is compelled to return the call.
Don't miss NAIFA's annual Congressional Conference
Join us for NAIFA's annual Congressional Conference! The event establishes and cultivates relationships with lawmakers to share the expertise of NAIFA members from all 50 states. It also aims to educate lawmakers on the value NAIFA members bring to their clients and the solutions they provide for 90 million American families. Get more information on NAIFA's Congressional Conference and register here.
The problem with gender is that it prescribes how we should be rather than recognizing how we are. Imagine how much happier we would be, how much freer to be our true individual selves, if we didn't have the weight of gender expectations.