Winning the game

Article Abstract:

Life insurance agents are facing a shrinking market because their aging baby boomer clients are pouring more investment funds into the mutual funds and other investment products of financial services providers such as banks and investment brokers. Some large insurers have formed marketing alliances with these competitors, but the agreements have not been beneficial to insurance agents. Wealth Transfer Planning Chmn Andrew D. Westhem says that agents must fight back by informing clients of the services that agents can provide.

Life Insurance, Management, Life insurance industry, Investments

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Davids vs. Goliath

Article Abstract:

American Deposit Corp principals Dennis Gingold and Richard Fasold established the Retirement CD, a certificate of deposit/annuity, that banks can sell. The US Supreme Court decided an annuity is an investment, not insurance. Insurance companies and regulators believe the annuity, which is paid to the owner upon their retirement and until their death, is an insurance product and bank employees do not have actuarial experience.

Annuity Insurance, Annuities, American Deposit Corp.

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Banks face sales barriers as agents lobby states

Article Abstract:

Insurance agents are pressing for guidelines to limit bank sales of insurance. Banks are voicing strong opposition to recommendations for the regulation of bank insurance sales issued by the Independent Insurance Agents of America and the Office of the Comptroller of the Currency. Insurance agents claim the guidelines are necessary to address issues of unfair competition for insurance sales.

Political activity, Cover Story, Deposit insurance, National Association of Insurance Commissioners

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