Forethought Life Insurance Company has been named to Ward’s 2013 list of 50 top performing life and health insurers for the fourth year in a row.
Ward Group, a Aon Hewitt company, provides information on benchmarking and best practices for insurers.
Forethought Life Insurance Company, a subsidiary of Forethought Group, Inc., sells annuity and life insurance products that are tailored to the needs of seniors. The products are designed to allow them to overcome financial challenges in old age.
Forethought received this year’s designation while implementing their growth strategy in the annuity marketplace.
Ward bases its designations on financial performance. After analyzing 800 companies, the 50 that were chosen met their criteria regarding thresholds of assets and return levels as well as safety and consistency tests.
A recent report by industry information provider Novarica, found that annuity carriers, already struggling in an unpredictable equity market, are pouring their resources into technology investments in order to get ahead of their competitors.
The report, “Business and Technology Trends: Individual Annuity,” found more than 35 examples of annuity carriers investing in technology in order to innovate products, reduce operational costs, improve risk management, and improve business intelligence.
In product news
Lincoln Financial Group has launched its Next Generation Survivorship Variable Universal Life Solution (SVUL). As a variable universal life insurance product, the SVUL contains both a guaranteed lifetime death benefit and market-driven growth potential that can help meet liquidity needs.
The product, which insures two individuals to one policy, provides an income tax-free death benefit that is immune to market conditions, as well as investment options selected upon the death of the second individual.
SVUL also contains an Estate Protection Rider and a pricing structure that allows for various premium payment scenarios.