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Life Health > Life Insurance

ING hires to grow advisory business

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ING Financial Partners (IFP), ING U.S.’s broker-dealer, hired Mark Wojtowicz to fill a new role focused on driving continued expansion of the firm’s advisory business.

In his new position, Wojtowicz will offer hands-on sales, product and practice management advisory support to the IFP network of financial advisors.

Wojtowicz will support all aspects of advisory business for IFP, in particular providing in-person, one-on-one advice and support to financial advisors from across the country. He will also support strategic partnerships and recruiting activities. Wojtowicz will report to Andre Robinson, head of advisory business development for IFP. His appointment is effective April 1, 2014.

Wojtowicz brings more than 15 years of experience in the brokerage and financial services industries. Prior to joining IFP, Wojtowicz was director of sales and distribution for GLOBALT Investments, a part of Synovus Financial. Prior to that, he held a variety of leadership positions at Lockwood Advisors, part of Pershing – BNY Mellon, including oversight of managed account solutions.

In other industry news:

American International Group, Inc. (NYSE: AIG) has repriced AG Select-a-Term, a customizable term life insurance issued by American General Life Insurance Company.

The changes include up to 10 percent premium reductions in popular durations and risk classes, and sometimes higher reductions, and a market-leading position in 15, 20, 25 and 30 year term nontobacco classes.

With extended ages and durations available, AG Select-a-Term offers coverage for policy holders until age 90, and can be converted to AG ROP Select-a-Term, fixed, index and guaranteed universal life insurance, including AG Secure Lifetime GUL II, with some conditions and product limitations applying.

Lincoln Financial Group (NYSE:LNC) launched Lincoln MoneyGuard II, the next-generation of its hybrid life-long term care (LTC) funding solution.

The product offers clients the option to spread premiums over multiple years. Clients can select a variety of payment patterns, from single pay to over 10 years, providing cash flow flexibility for various financial portfolios.

MoneyGuard II provides income tax-free reimbursements for qualified long-term care expenses, an income tax-free death benefit if care is not needed, or return of premium (ROP) options, which have expanded with MoneyGuard II. Clients who do not anticipate needing to exercise the ROP can enhance their long-term care benefit by opting for an 80 percent ROP option at issue or a vested option, with 100 percent ROP after five years.

MoneyGuard II also includes enhanced international benefits, and a discount for couples who are married or in a civil union or domestic partnership legally recognized by their state of residence. The couples discount is available even if both individuals do not apply.

Fidelity & Guaranty Life Insurance Company, a subsidiary of Fidelity & Guaranty Life (NYSE: FGL), launched Performance Pro, which includes a range of fixed indexed annuity (FIA) interest crediting options, a 10 percent vesting premium bonus (5 percent for ages 76+), a performance driven income base, strong illustrated income, and enhanced income for impairment.

The product’s five-year spread interest crediting option is tied to a volatility controlled index. For the first time and in conjunction with the launch of Performance Pro, FGL provides FIAs with an index crediting option tied to the Dow Jones US Real Estate Index, with 10 percent volatility controlled index. By using a volatility controlled index, FGL can offer uncapped accumulation options within FIAs, limiting both upside and downside swings in the index.

The Savings Bank Life Insurance Company of Massachusetts (SBLI) announced several personnel changes. James A. Morgan has been promoted to executive vice president, Financial Operations; John Brabazon has been hired as senior VP and CFO; and Barbara J. Conti joins SBLI as VP, Human Resources.

Morgan will be responsible for coordinating all aspects of SBLI’s financial functions, including Actuarial, Finance, Investments and Rating Agency Relationships. He joined SBLI in 1998 as Senior Vice President, Chief Investment Officer and Treasurer, having previously worked at several local banks in investment and asset/liability management roles.

Brabazon brings more than 25 years of financial management experience and most recently as vice president and controller at Hartford Investment Management Company, a subsidiary of The Hartford. He previously served as vice president and Global Investment Controller at Manulife Financial and as Vice President and Assistant Corporate Controller at the Hanover Insurance Group. Prior to working in the insurance industry, he served a variety of insurance clients while at Ernst & Young in Boston. He is on the Board of Trustees at Milford Regional Medical Center, and received a Bachelor of Business Administration degree from the University of Notre Dame and earned a Master of Science in Banking and Financial Services at Boston University. He is a Certified Public Accountant and a Fellow of the Life Management Institute.

Conti brings more than 20 years of human resources experience to her position at SBLI, most recently as senior vice president and director of Human Resources at Metro Credit Union in Massachusetts. She received a Bachelor of Arts degree in Education/French, summa cum laude, from Salem State College. She is a member of the Massachusetts Bankers Association Human Resources Committee, the North Shore Human Resource Group, the Northeast Human Resource Association, the Society for Human Resource Management, and the Association of Employment Professionals.

DocuSign Inc. (DocuSign) and Vertafore formed a partnership to make DocuSign’s Digital Transaction Management (DTM) platform and eSignature solution available from within the Vertafore Agency Platform and AMS360 Online. Integration into the Sagitta suite of products will follow later this year.

DocuSign helps insurance agents keep business fully digital to accelerate speed to revenue, reduce costs, and increase security and compliance – all while providing clients with an easier, faster, more convenient and secure way to complete transactions.


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