Davis joins Guardian from The Hartford, serving most recently in the role of vice president, regional sales director, Mid-Market. Davis spent 20 years with ING/CitiStreet and Citigroup, where he held various sales positions, including national sales director and national head of Mid-Market Sales. Davis is a board member on the Defined Contribution Investment Council.
Guardian also introduced tools to help support financial professionals define their value proposition in a changing regulatory landscape and help communicate the value of service providers including, the 401(k) fee disclosure website Understanding Plan Fees and a presentation for financial professionals called “Are You F2 Prepared: Navigating the Fiduciary and Fee Disclosure Regulatory Landscape.”
In other industry news:
The Penn Mutual Life Insurance Company appointed Timothy Geary as managing director of the company’s new San Diego agency.
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Before joining the company, Geary was director of recruiting and operations with Guardian Life. He primarily focused on business development, client and agent retention, field force training and agent recruitment.
Geary earned an Associate Degree in visual communications from the Colorado Institute of Art. In addition, he is a member of the Financial Planning Association of San Diego and the National Association of Insurance and Financial Advisors (NAIFA).
Allianz Life Insurance Company of North America (Allianz Life) launched the optional Premium Deposit Fund (PDF) Rider to fund the PDF with a single payment and avoid creating a Modified Endowment Contract. It is available with the Allianz Life Pro+ Fixed Index Universal Life Insurance Policy for no additional cost.
Once a lump-sum amount has been made to the PDF, Allianz Life will automatically transfer the client’s annual planned premium into their life insurance policy and will also provide an annual 2.25 percent Premium Discount Rate as the premium is transferred from the PDF into the policy.
Clients start by making a lump-sum payment into their Premium Deposit Fund. Their first annual planned premium is deducted from that amount and transferred to their life insurance policy. Each policy year, for the number of years they select for the Premium Deposit Fund period, their annual premium will be transferred from the PDF into their life insurance policy. Every policy anniversary, the amount withdrawn from the PDF to pay the annual planned premium will have a Premium Discount Rate3 applied – creating the Discounted Premium Credit.