Annuity News

Genome Sequencing Represents a Gusher of Productivity in Healthcare

While the national debate on healthcare comes to a climax in Congress, there is clear evidence of enormous productivity gains in healthcare. It is reported that the cost of genome sequencing continues to plummet in a Moore's Law fashion. The total cost of sequencing an entire human genome started at $3 billion.

Glossary:

Longevity

Genome

Genome Sequencing

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Healthcare

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Employee Benefit Research Institute Publishes Retirement Confidence Survey

The Employee Benefit Research Institute recently published its 2010 Retirement Confidence Survey . The report concludes that historically low levels of confidence have stabilized but the amounts of retirement savings and overall preparation continue to decline.

Key Phrases:

Retirement

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Retirement

Morningstar Publishes List of Fund Managers that have Created and Destroyed Most Wealth

Morningstar recently published findings from a study that ranks U.S. fund managers based on the amount of wealth they have created or destroyed for their clients over the past decade.

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Vanguard

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Putnam

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Capital

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Capital

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Putnam

Companies:

Vanguard

Study Shows Health Care Costs are a Major Risk in Retirement

The Center for Retirement Research at Boston College just published a study that examines the distribution of health spending after age 65. The results are eye-opening and should serve to reinforce the fact that health costs are one of the major risk factors for retirees. The findings include: Excluding nursing home care, a typical couple at age 65 can expect to spend over its remaining lifetime $197,000 with a 5 percent risk of their spending exceeding $311,000. When including nursing home...

Key Phrases:

Retirement

Health

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Retirement

Health

Secondary Market for Annuities Under Regulatory Pressure

Investment News reports that state insurance regulators from 35 states have voted to allows insurance carriers to terminate an annuity benefits if the owner sells the contract. The vote deals a blow to the nascent secondary market for annuities since it would be increasingly difficult to sell an annuity into the secondary market.

Glossary:

Annuity

Insurance

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Secondary Market

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Annuity

Insurance

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Secondary Market

LIMRA Top 20 List Reveals the Level of Concentration Within the Annuity Industry

The trade Group LIMRA just published a list of the 20 companies that sold the most individual annuities in the United States during the fourth quarter 2009. The list reveals the level of concentration among product manufacturers in the annuity industry.

Glossary:

Annuity

Variable Annuity

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Annuity Sales

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Annuity

Variable Annuity

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Annuity Sales

Individual Annuity Sales Decline in 2009

LIMRA reports that total individual annuity sales declined by 11 percent in 2009. Sales of all types of individual annuity products in the United States totaled $234.9 billion in 2009. Variable annuity sales totaled $127 billion, a decrease of 18 percent for the year. Indexed annuity sales totaled $29.4 billion, an increase of 9 percent relative to 2008.

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The Head of Retirement and Services at BofA Merrill Lynch Offers Views on Retirement Planning Reform

Andy Sieg is the head of Retirement Planning and Services for Bank of America Merrill Lynch. Sieg provides his views on retirement planning reform in a recent op-ed piece in Investment Advisor. Among Sieg's points are: Support of the steps recently outlined by the Obama Administration to ancourage and support adequate financial planning for retirement. Specifically, support of incentives such as automatic enrollment for employer-sponsored savings options such as 401ks and IRAs. Support of...

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Life Insurers Suing Broker Dealers Over Sale of Variable Annuities to Terminally Ill Annuitants

Investment News reports that two life insurance companies are suing a handful of broker dealers over the sale of variable annuities to terminally ill annuitants. The suit involves a Rhode Island-based attorney who allegedly solicited terminally ill people through advertising and an offer of $2,000 per variable annuity purchase.

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Annuity

Insurance