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PHILADELPHIA ANNUITY
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Why a tax on this inheritance? - Philadelphia Inquirer
Why a tax on this inheritance? Philadelphia Inquirer, PA As a result, those who inherit a regular IRA or an annuity will owe the income taxes on previously untaxed money. An exception is a Roth IRA, for which no income tax is due. Write Harry Gross c/o the Daily News, Box 7788, Philadelphia , PA 19101. ...
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Insurers slow production of fixed-index annuities
Aviva, Midland, North American, EquiTrust, Fort Dearborn make moves to dampen sales Insurers, concerned about conserving capital, have put the brakes on their fixed-index-annuity production, a move that advisers say could put a crimp in their business. Carriers, including Des Moines-based Aviva USA — the largest seller of index annuities — have been turning down the volume on such sales, raising fees for riders, reducing sales commissions and putting a temporary stop to the licensing of new annuity producers. Aviva also ended relationships with some of its distributors and producers. And the carrier isn't alone. Midland National Life Insurance Co.
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Brokers Fear Many Insurers Are Ignorant of Annuity Risks
More than 70% of financial advisers in a recent survey said they were concerned about the risks insurers have taken on with guaranteed-minimum variable annuities -- and nearly a third said they doubted the insurers themselves understood those risks... ...The advisers were polled amid a steady drumbeat of ratings downgrades for some of the biggest names in the U.S. life-insurance industry. About two dozen insurers saw their financial-strength ratings fall one or two notches during the first quarter, although most remain at least for now in categories denoting capitalization that is "strong" to "very strong." The ratings firms assigned a
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Laggards Get the Boot
Worried about performance guarantees, variable-annuity issuers start to ditch stock funds that trail the market Small investors aren't the only ones fuming about the poor performance of stock pickers at mutual funds. So is the U.S. life-insurance industry, and it isn't just fuming -- it's boosting the role of index-based investing in the funds it offers to buyers of variable annuities... WSJ: Laggards Get the Boot
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