There were plenty of product trends and startling sales reports that kept InsuranceNewsNet readers interested in life insurance and annuity stories in 2018.
Here are the top 10 life and annuity stories of the year:
This story from Jan. 2, 2018 captured the various analysts’ predictions for the life and annuity industry for the year. Spoiler alert: they expected rates, regulation and digital distribution to be the big topics for the year. Were they right?
This story actually published Dec. 27, 2017 and featured analysts debating how Athene, a top writer of indexed annuities, would benefit from Voya Financial‚Äôs decision to separate itself from its closed block of variable annuities and its portfolio of individual fixed and fixed indexed annuities.
This deal to allow Jackson to distribute variable and index annuities through State Farm agents beginning in the second half of 2019 drew a lot of reader interest. It could be a trend to watch going forward.
This March story tallied up the 2017 sales figures for annuities. The LIMRA Secure Retirement Institute found an 8 percent decline from 2016 to 2017, although sales figures would improve later in the year.
Ohio National informed broker-dealers in a Sept. 28 letter that it will terminate “any and all servicing agreements” on Dec. 13, a decision that stunned the industry. Most significantly, it meant all compensation, specifically trail commissions, stopped on that date.
Voya alerted analysts early in 2018 that it might exit the life insurance business. Later in 2018, that speculation would come true.
Ohio National Financial Services laid off 300 people and dropped its annuity lines in September. The company will exclusively focus on growing its life and disability income insurance product lines going forward, the insurer said.
This follow-up article speculated that¬†Great American, AIG and Allianz would be among the biggest winners from Ohio National’s decision to get out of the annuity business.
When should a parent buy life insurance on a child, how much can be purchased and what are the guidelines? This story looked at the many different issues and uses for child life insurance.
In this February story, analysts discuss using annuities in conjunction with Social Security to maximize retirement dollars.
InsuranceNewsNet Senior Editor John Hilton has covered business and other beats in more than 20 years of daily journalism. John may be reached at¬†[email¬†protected].
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