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PHILADELPHIA ANNUITY
Articles
New NAVA Message Testing Service to Ensure Compliance with Annuity Sales Automation Standards
NAVA, Inc., the Association for Insured Retirement Solutions, today announced a new service to help insurers, annuity distributors and technology solutions providers ensure that their electronic data messages are compliant with NAVA’s Straight-through Processing (STP) Standards Initiative. STP is an industry-backed initiative establishing an automated standardized process that streamlines the sale of annuities. New NAVA Message Testing Service to Ensure Compliance with Annuity Sales Automation Standards Source: Business Wire
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CIGNA Reports Third Quarter 2008 Results (Business Wire via Yahoo! Finance)
PHILADELPHIA----CIGNA Corporation : Net income was $0.62 per share1 in the quarter, which included losses from the Guaranteed Minimum Income Benefits business2 of $0.22 per share1 and losses from the Guaranteed Minimum Death Benefits also known as Variable Annuity Death Benefits of $0.25 per share1.
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Life Insurance Company Fined $150,000 Over Annuities
The Oregon Department of Consumer and Business Services fined Chicago-based Bankers Life and Casualty Co. $150,000 in addition to requiring it to review additional annuity sales, to offer refunds to those for whom the sales were unsuitable and to take steps to protect future clients. Life Insurance Company Fined $150,000 Over Annuities Source: Biz Journals
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Sun Life Financial Introduces New Investment Options and Funds for its Variable Annuity and Variable Universal Life Customers
The U.S. division of Sun Life Financial Inc. has introduced multiple new funds and investment options for its variable annuities and variable universal life products, including three dynamically managed fund of funds developed and subadvised by Ibbotson Associates, Inc., a new Fund Family portfolio and an enhanced Build Your Own Portfolio option. Sun Life Financial Introduces New Investment Options and Funds for its Variable Annuity and Variable Universal Life Customers Source: Yahoo! Finance
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