Guardian’s Fiduciary Awareness Quiz asks: Do plan sponsors understand their fiduciary role?
The Guardian Insurance & Annuity Company, Inc. (GIAC), a wholly-owned subsidiary of The Guardian Life Insurance Company of America®, launched The Fiduciary Awareness Quiz , an industry assessment to help plan sponsors better understand their fiduciary obligations and responsibilities.
The quiz consists of 15 yes-no questions designed to assess a 401(k) plan sponsor’s knowledge of qualified plan fiduciary best practices, as well as which of these practices is currently being applied to the administration of the 401(k) plan. It provides a customized report with educational information to help plan sponsors better understand their fiduciary responsibility. Financial professionals can use the tool and reports to gauge the fiduciary awareness of their plan sponsor clients and help fill in knowledge gaps and suggest solutions to help mitigate fiduciary risk.
Forethought Life Insurance Company expands broker-dealer product offerings with new fixed index annuities
Forethought Life Insurance Company, a subsidiary of Global Atlantic Financial Group Limited, launched two new fixed index annuities exclusively designed for broker-dealer distribution. With these products, Forethought’s growing annuity line now includes fixed index annuities, fixed annuities and a fixed annuity with long-term care benefits, all available through multiple distribution networks, as well as variable annuities sold exclusively through broker-dealers.
Forethought has been in the fixed index annuity market since 2007. These additional products mark the company’s first index annuities designed exclusively to meet the unique needs of broker-dealers, helping their advisors serve clients in one of the fastest growing segments of the annuity market. According to LIMRA, index annuities account for 17 percent of annuity sales today.
One of the new index annuity products, ForeAccumulation™, is designed for clients seeking savings potential and protection while the second, ForeIncome™, offers a guaranteed lifetime income stream for retirement.
Lincoln Financial Group launches next generation Lincoln LifeReserve® Indexed UL Accumulator
Lincoln Financial Group (NYSE:LNC) announced enhancements to its Lincoln LifeReserve® Indexed UL (IUL) Accumulator life insurance offering. Lincoln’s latest IUL product can help advisors address a range of client objectives and risk profiles, offering life insurance and death benefit protection, along with the potential for tax-advantaged income.
In addition to an income tax-free death benefit, the product offers various account options for cash accumulation potential, which can be accessed tax-efficiently as a source of supplemental income for retirement, or other milestones such as college expenses. Each account offers a guaranteed one percent minimum interest rate to protect against negative returns.
The latest enhancements to the Lincoln LifeReserve® Indexed UL Accumulator are immediately available to Lincoln’s national network of distribution partners (in states where approved).
New insurance product helps growing businesses with planning needs
The Principal Financial Group® announced a new flexible and comprehensive life insurance option designed to help advisors solve those issues for business owners – Principal Variable Universal Life – BusinessSM. This life insurance product is designed to fund business planning solutions such as executive benefits, exit planning and business protection. The product offers unique benefits to growing businesses that typically are available only to large organizations including: high early cash values, access to more than 100 investment options and institutional pricing.
Sammons Retirement Solutions® Inc. announces enhancements to the LiveWell® Retirement Series
Sammons Retirement Solutions® Inc. announced changes and enhancements to the LiveWell® Variable Annuity, issued by Midland National® Life Insurance Company that increases fund options and adds a new innovative endorsement that offers investors a way to reduce long-term annuity costs.
The newly enhanced LiveWell Variable Annuity offers the potential for long-term tax-deferred asset growth, legacy protection and now, a choice in fee structure. The LiveWell® Value Endorsement lowers fees by offering clients the option to reduce their separate account annual expenses by 0.20% (to 1.15%) in exchange for a surrender schedule. The LiveWell Variable Annuity with Value Endorsement allows advisers to create an individual strategy for each client based on their time horizon, risk tolerance and tax deferral goals. Additionally, the LiveWell Variable Annuity offers a return of premium death benefit.