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Retirement credential increasingly popular at The American College

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The American College of Financial Services, a non-profit educational institution devoted to finance, is experiencing energetic interest in their Retirement Income Certified Professional (RICP) designation.

Industry professionals, acutely aware of the 76 million baby boomers concerned about the security of their retirement plans and options, have been displaying a keen eagerness in the designation — 3,000 licensed advisors and insurance agents have registered for the program since its launch one year ago.

The credential, which is completely focused on generating retirement income and security while managing benefits like Social Security, is the fastest-growing advisor credential ever launched in the College’s 87-year history.

The curriculum for the designation contains three in-depth college-level courses covering topics necessary to any retirement income plan.

American General Life Insurance Company (American General) recently announced the launch their newest index annuity, Power Index Plus.

American General, an AIG Life and Retirement company, seems to be seeking to expand their presence in the index annuity market as the Power Index Plus follows April’s launch of the AG Choice Index 10SM annuity.

Their newest product, designed to be distributed by financial institutions and independent broker-dealers, but will also be available to brokerage general agencies, seeks to combine principal protection, growth potential and lifetime income.

The Power Index Plus offers three interest-crediting strategies: A 1-year fixed interest account, an annual point-to-point index interest account and a monthly point-to-point additive index interest account. The accounts provide clients the ability to earn interest based on the performance of the S&P 500 index without dividends. The annuity will not lose value due to market fluctuations.

The product also offers Lifetime Income Plus, an optional guaranteed living benefit rider.

Ebix, an international supplier of on-demand software and e-commerce services to the insurance industry is looking to solidify its presence in North America by announcing plans to launch a more encompassing portfolio of products in the life and annuity sector in 2014.

The company is inviting clients to the National Association of Independent Life Brokerage Agencies’ (NAILBA) 32nd annual meeting in Dallas November 21-23 to announce the launch of products in the area of mobile agility, cloud-based back-end solutions, straight through processing and automated underwriting police issuance, all of which are designed to increase productivity for the industry

In personnel news:

The Penn Mutual Life Insurance Company announced that David Jacowitz has been named managing director of Centra Financial Group, Penn Mutual’s career agency office in Rochester, N.Y.

Jacowitz, who will be responsible for the development of the sales team, including the recruitment, training and supervising of producers, served as Senior Partner for New York Life before joining Penn Mutual.

At New York Life was responsible for recruiting, training and supervising joint sales, prior to that, worked as a producer for Metropolitan Life.