National Underwriter Life & Health Magazine December 21, 2009
Cover Story
Guarantees, 'De-Risking' Were Top Product Trends In 2009
The Great Recession continued in 2009 and so did its impact on insurance products. Once again, guarantees were a major part of the product story- in terms of sales and product features. But another trend reared its head too- de-risking.
Focus
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Health Reform, Financial Services Regulation Dominated The D.C. Agenda
Despite an entire year of debate, it remained unclear as 2009 ended what the shape and substance of a future healthcare delivery system would be and how deeply the federal government will intervene in the regulation of the insurance industry.
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As Economy Reeled, Advanced Sales Took A Big Hit
For advisors engaged in advanced markets sales, 2009 was one tough year to be doing business. When asked why, sources interviewed by National Underwriter point to the economy, which suffered its worst contraction in decades.
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It Was A Year Of Dichotomies In The Index Annuity Market
In 2009, two big stories dominated the index annuity business: The Securities and Exchange Commission's proposed Rule 151A and capital constraints.
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More States Regulated Life Settlements In 2009
The secondary market for life insurance caught a good deal of attention in 2009 from legislatures, regulators and the news media.
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LTC Saw Some 'Out-Of-The-Box' Thinking But Change Came Slowly
In 2009 there has been a relative flurry of new product innovation and development in long term care insurance.
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It Was A Rocky Ride For Life Insurance
Business as usual may have felt anything but normal in 2009.
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Voluntary Benefits Held Their Own
Despite widespread layoffs, sales of many voluntary employee benefit products shone brightly in the dismal economy of 2009, according to year-to-date data from LIMRA International, Windsor, Conn.
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The Economy Took A Toll On Health
The H1N1 influenza is the wild card on the list of the year's top stories in the health, disability and group benefits markets.
News
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Despite SEC's Two-Year Concession, Industry Determined To Fight 151A
A decision of the Securities and Exchange Commission to concede in court documents that it will provide a full two-year implementation period for federal regulation of indexed annuities under Rule 151A.
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Inaction Could Leave Estate Tax In Limbo
There is an increasing likelihood that the estate tax will expire at the end of this year because of congressional inaction.
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Medicare Buy-In Looks Like A Goner
Senate Democrats appear on the verge of dropping a scaled-backed public plan that would make people 55 to 64 without healthcare coverage eligible for Medicare.
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3Q VA Sales Slipped 2% From 2Q
New sales of variable annuities declined in the third quarter, dropping 2% to $30.6 billion from $31.2 billion in the second quarter of 2009 and down 17.3% from third quarter 2008 sales of $37 billion.
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3Q Variable Life Sales Fell 4.2% From 2Q Results
Variable life insurance sales with single premiums included at 10% for the 35 companies reporting in the VALUE survey for the third quarter of 2009 were $292.1 million.
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CMS: 'Cadillac' Plan Tax Could Bend Spending Curve
Imposing a 40% excise tax on relatively high-cost, "Cadillac" health plans might be fairly effective at holding down health care spending, a government forecaster says.
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ACLI: Study Shows CLASS Act Won't Work
The American Council of Life Insurers is pointing to a new study by the Centers for Medicare and Medicaid Services as confirming its view that a long term care entitlement program contained in the latest Senate health care reform package won't work.
Opinion
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Blood Is Boiling
Goldman Sachs, Morgan Stanley and Citigroup--did not show up at the White House for a meeting with President Obama that was to deal with getting these institutions to make more loans to small businesses and consumers.
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Planning Or Wishful Thinking?
One year ends, another begins. The wheel of history turns and a new opportunity presents itself. I have never been a big fan of New Year's resolutions, for I prefer specific plans over wishful expectations.
