Death Benefit

When an insured party passes away, the amount of capital paid to the designated beneficiary or beneficiaries is referred to as the death benefit. Death benefits are commonly paid to beneficiaries of life insurance policies, annuities and some pensions.

SOA Paper Examines Retirement Income Reality Gap

A recent paper sponsored by the Society of actuaries provides an impressive and comprehensive review of retirement income-related research. 

The paper, titled Research and Reality – A Literature Review on Drawing Down Retirement Financial Savings, can be accessed by clicking here

Achaean Financial is Proving Innovation is Alive and Well in the Annuity Business

Lorry Stensrud, a seasoned executive turned entrepreneur, is on the leading-edge of retirement income product development with his new Venture Achaean Financial.

Achaean’s Income Plus+ product provides a relatively high level of guaranteed starting income while maintaining both liquidity and upside potential.

Read on for a glimpse into the most recent generation of product development in the retirement income industry.

 

Commonwealth Annuity

Commonwealth Annuity and Life Insurance Company operates as a wholly-owned subsidiary of the Goldman Sachs Group.

The company was founded in 2002 and is headquartered in Southborough, Massachusetts. It was formerly known as Allmerica Financial Life Insurance and Annuity Company and changed its name to Commonwealth Annuity And Life Insurance Company in August, 2006.

Commonwealth Annuity offers variable annuity products designed to help create a retirement plan tailored to individual requirements. Below is an overview of product offerings:

Union Central

Union Central Life Insurance Company was founded in Cincinnati, Ohio in 1867. Today, Union Central Life operates under the umbrella of UNIFI Mutual Holding Company.

Union Central Life Insurance Company offers insurance and financial products and services to individuals and businesses that include life insurance, annuities and disability Income insurance. Below is a high level description of its product offerings:

Western and Southern

Western and Southern Life Insurance Company was founded in 1888 and is based in Cincinnati, Ohio. Today, it operates as a wholly owned subsidiary of Western & Southern Financial Group, Inc.

The company’s mission is to help clients meet the bulk of their financial needs by providing responsive, competitive life, health, retirement savings and investment products and services.

Liberty Bankers Life

Founded in 1958, Liberty Bankers Life is headquartered in Dallas, Texas and operates as a subsidiary of Heritage Guaranty Holdings Group. The company is currently domiciled in Oklahoma and hold license to sell its products in 40 states.

Liberty Bankers Life offers several insurance and investment products to individuals and businesses that include traditional fixed annuities, immediate annuities, non-participating whole life insurance, final expense whole life insurance, term life insurance, and group life policies. Below is an overview of products offered by Liberty Bankers Life:

Securian

Securian Financial Group is located in St. Paul, Minnesota and was founded in 1880. It is the parent company for Minnesota Life Insurance Company and Securian Life Insurance Company which, together, sell insurance, investment and retirement products to individuals and businesses in 50 states.

The product and services offered by Securian Financial Group and its member companies to individuals and businesses include life insurance, group insurance, annuities, retirement planning, investment advisory, and financial planning. A brief overview of the offerings is given below:

Royal Neighbors

Royal Neighbors of America is a not for profit fraternal benefit society engaged in offering insurance and related products to fulfill a variety of needs for growth, savings, and protection. It was founded in 1895 with an aim to offer affordable life insurance to the women in United States. Today it sells life insurance products to both men and women.

The product range offered by Royal Neighbors of America includes Whole Life Insurance, Term Life Insurance, Universal Life Insurance, Annuities and Medicare Supplement Insurance. A high level description of these products is as follows:

Integrity

Integrity Life Insurance Company was founded in 1966 and is located in Cincinnati, Ohio. Integrity Life Insurance Company along with National Integrity Life Insurance Company serves customers in 50 states and the District of Columbia. Both Integrity Life Insurance Company and National Integrity Life Insurance Company are part of Western & Southern Financial Group.

Integrity Life offers a complete range of fixed, variable and income annuities that help people address their retirement income needs. An overview of the products offered by Integrity Life Insurance Companies is as follows:

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