Genworth (NYSE:GNW) introduced its second index universal life (UL) insurance product, Foundation Builder Index UL, which provides death benefit protection backed by a no-lapse guarantee of up to 30 years, plus the opportunity to build cash value for future financial flexibility.
The Foundation Builder Index UL offers:
- Five index interest crediting strategies linked to the percentage change in the S&P 500 Index to help build cash value for future flexibility. Policyowners benefit from interest credits up to a cap and have a guaranteed floor of 0 percent.
- An optional Accelerated Benefit Rider for Long Term Care Services. The rider, available at an additional cost, combined with index universal life insurance coverage, creates reliable death benefit protection while offering access to the specified amount for covered long term care expenses. The rider includes at-home coverage with no waiting period as well as coverage for informal caregivers. If the policyholder does not need to use the rider or only uses a portion of the specified amount for covered long term care expenses, then the remaining portion of the specified amount will be paid as a death benefit.
The Principal Financial Group has streamlined the process of changing retirement plan providers with:
- The ability to sign transition paperwork electronically: Plan sponsors can safely and securely sign one or multiple documents in just a few clicks, saving valuable time;
- Easy-to-use online document hub: Retirement plan documents are securely stored in one location, and can be accessed anytime, helping sponsors stay well organized as they manage their fiduciary duties.
Plan sponsors also have the option of a streamlined strategy for transferring plan assets, automatically defaulting participants into a qualified default investment alternative (QDIA) selected by the plan sponsor. Participants have the choice to opt-out during the transition or after.
Securian Retirement launched the Matrix Retirement Platform, an online tool that streamlines investment analysis, menu selection, levelized compensation, model portfolio building and ongoing monitoring. The online tool is powered by Matrix, a Broadridge Financial Solutions company (NYSE: BR).
Securian Retirement, along with Matrix, developed the offering collaboratively with input from retirement plan specialist firms. The solution was designed with a specific set of advisors in mind – fee-based advisors who specialize in retirement plans, who prefer to utilize levelized compensation across plan assets, and are dedicated to help plan sponsors manage their fiduciary responsibilities and risks.
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Conning is offering Working Capital Finance Investments for U.S. insurers.
Part of an approximately $4 trillion-plus market generally known as trade finance or trade credit, Working Capital Finance Investment programs are private placements of pools of commercial trade receivables that offer higher yields than other short duration investment options of similar quality. These high-quality floating-rate investments offer a hedge against rising interest rates.
The National Association of Insurance Commissioners recently approved Working Capital Finance Investments as an admitted asset for reporting entities.
Conning offers a range of investment strategies in noncore and alternative asset classes. In addition to innovative approaches to fixed income products, these strategies include high dividend equity, master limited partnerships, liquid alternatives and other products tailored to the unique needs of the insurance industry.
Senior Vice President Katherine O’Brien has been elected chief human resources officer for New York Life, effective Jan. 1.