Making Choices for Life (Members only)

Speakers: Colin Devine

Year: 2018



For both producers and consumers selecting an insurer whose products may be relied upon for 20-30 years or more has never been simple. Beginning 2018 the U.S. Life Insurance industry remains poised to realize above average growth driven by its ability to provide long-term guarantees that address the income, supplemental health and wealth preservation risks faced by the rapidly rising number of retiring Americans. However, many carriers face increasing strain from the mix of low interest rates coupled with past product features on legacy liabilities such as variable annuities, long-term care and secondary guarantee universal life. This has led some to exit business lines; restrict sales of new products; sharply raise pricing on in-force policies via rate increases or dividend reductions; or an emerging trend of spinning-off or divesting significant portions of their organizations. As such, the product with the cheapest price today, may not prove to have been the best choice down the road.  This session will attempt to address some key industry issues such as:• Impact of low interest rates on carrier behavior and product pricing.• Fiduciary regulation is it here to stay? What may be some of its implications for how products are sold and compensation?• Decisions insurers face when coming to grips with past pricing mistakes.• Picking a carrier for life; what is the risk the insurer a policy is purchased from may not be the one ultimately relied upon to pay the benefit?

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