Annuity News

Reverse Mortgages -- A Source of Income in the Wake of the Financial Crisis?

Do reverse mortgages deserve a second look in light of the financial crisis? Similar in some ways to annuities, reverse mortgages have received little attention from conventional financial planners and investment advisors. Part of this reluctance involves lack of familiarity with the products, part of it involves lack of financial incentives to discuss the products, and part involves genuine, well-founded skepticism regarding product value. The reality, though, is that home equity is a major...

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Harvard Researcher Working on Development of Anti-Aging Drug

David Sinclair is Professor of Pathology at the Harvard Medical School. Professor Sinclair presented some of his research at a recent conference sponsored by the International Longevity Center . The research suggests that longevity genes can be leveraged to activate the human body's natural repair mechanisms and enhance longevity. In particular, Sirtuins are proteins responsible for the positive aging effects that accompany caloric restriction. Professor Sinclair and his team of researchers are...

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Study Suggests Germline Cells Hold Keys to Longevity

Researchers have been studying roundworms to try and understand how germline cells might impact human longevity . The cells of roundworms have some similarities to sperm and egg cells or germline cells. Unlike somatic cells which replicate and wear-out, germline cells are capable of replicating indefinitely. It is this characteristic that researchers think may provide links to human longevity and regenerative medicine : “Given that protection of the germ line is an evolutionarily shared trait...

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Obama Administration Proposes Mandatory Automatic IRA Enrollment

The Obama administration's budget proposal includes a provision for mandatory automatic enrollment in individual retirement accounts (IRA) or "auto-IRAs." The administration's intent with auto-IRAs is to provide a "universal" retirement savings system that is employment-based. Auto-IRAs would be mandatory for employers who do not offer a retirement savings plan--such as a 401k --to their employees. Administration officials suggest that such a system could impact up to 78 million Americans...

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Consider Inflation Protected Immediate Annuities for Estate Planning

Financial planning and estate planning have been brutally difficult over the past decade. High levels of market volatility , the possibility of deflation , and now threats of inflation have complicated the financial lives of millions of people. Almost anyone in or nearing retirement is faced with incredibly complex decisions. If, for example, you retired in 2000 yet remained fully invested in the S&P 500 you would have watched well over a third of your retirement nest-egg evaporate. Do you...

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Inflation Protected Immediate Annuity

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Inflation Protected Immediate Annuity

J.G. Wentworth Files for Bankruptcy - Life Settlements Market in Flux

A major player in the life settlement market has filed for Chapter 11 bankruptcy protection. On Monday, J.G. Wentworth and two of its affiliates filed for bankruptcy protection in a Delaware court. J.G. Wentworth had been very active in the life settlement market. The financial crisis has deeply impacted all securitization markets, and the life insurance market is no different. Life insurance policyholders who have already sold their life or annuity policies and received funds should be fine...

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Understanding the Basics of Annuity Fees and Expenses

A basic checklist from a top financial planner is worth a look if you are trying to understand the potential fees and expenses associated with annuities: The author considers the following: Annual contract charges Mortality and expenses charge (M&E Fee) Asset management fees Surrender charge Source: CNBC Full Story

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Almost Half of All People Leaving a Company Take Cash from a 401k

A 2005 survey from the benefits consulting company Hewitt Associates indicates that almost 50% of all people who are leaving an employer take a cash distribution from the existing 401k plan. A cash distribution is very different from a IRA rollover . A rollover does not involve penalties or taxes--simply moving money from a 401k to an individual retirement account or IRA. On the other hand, a cash distribution involves both taxes and early withdrawal penalties. This is an amazing and disturbing...

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Roth IRA Questions and Answers

A great article on Roth IRAs and IRAs in Kiplinger's personal finance section. Income limits, contribution limits, Roth IRA conversions and tax implications are all addressed. Required minimum distributions and the waiver from Congress in 2009 are also discussed. Source: Kiplinger Full Story

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A.M. Best Downgrades 64 Insurance Companies, Considers 3 Impaired

Rating agency A.M. Best has recently issued a report indicating that three insurance companies have become financially impaired thus far in 2009. A.M. Best considers an insurance company impaired once a state department of insurance has taken its first official regulatory action against the company. The three carriers considered impaired are: Shenandoah Life Insurance Company American Network Insurance Company Penn Treaty Network America Insurance Company A.M. Best indicated that more impaired...

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