‘Average’ Retirement Costs

Cropped portrait of a group of quirky senior friends messing around outdoorsBy Dayana Yochim – NerdWallet – June 1, 2018

According to the latest Bureau of Labor Statistics data, based on 2016 figures, “older households” – defined as those run by someone 65+ – spend an average of $45,756 per year, roughly $3,800 a month. That’s about $1,000 less than the monthly average spent by all U.S. households combined.

Their insurance premiums – which run more than $4,000 a year, on average, for the 65+ set – are a spending category that gets larger as they age, at least until age 75, when BLS data shows costs dipping about $30 per year. At least there’s Medicare to help cover some costs.

Click to continue to article…

Additional resources 

Clicking third-party links will open a new tab and will take you away from TPPNAmeriLife.com. AmeriLife does not control the linked sites’ content or link.

Wink’s Annuity Sales Report: Q1 2018

Improved, better and bigger size image of different, leader, best, unique, boss, individuality, original, special, worst, first, chief, champion and discrimination concept. Green umbrella in a row of white ones

By WINK – May 30, 2018

Indexed Annuity sales for Q1 2018 were $14.21 billion, compared to sales of $12.92 billion for Q1 2017. Q1 indexed annuity sales were up more than 4% compared to Q4 ‘17, and up more than 10% compared to Q1 ’17.

Top 10 Indexed Annuity Carriers – Q1 2018

  1. Allianz Life 2. Athene USA 3. Nationwide 4. American Equity Companies 5. Great American Insurance Group 6. AIG 7. North American Company 8. Global Atlantic Financial Group 9. Midland National Life 10. Pacific Life Companies

Leaders by Channel:

Bank: Great American Insurance Group, Career: CNO Companies, Direct Response: N/A, Independent Agent: Athene USA, Independent Broker/Dealer: Allianz Life, National Broker Dealer: Global Atlantic Financial Group.

Fixed Annuity sales for Q1 2018 were $7.29 million, compared to sales of $1.07 billion for Q1 2017. Q1 fixed annuity sales were down more than 3% compared to Q4 ‘17, and down more than 32% compared to Q1 ‘17.

Top 10 Fixed Annuity Carriers – Q1 2018:

Jackson National Life, Modern Woodmen of America, Global Atlantic Financial Group, Great American Insurance Group, American National, EquiTrust, Brighthouse Financial, Foresters, Reliance Standard, American Equity Companies.

Leaders by Channel:

Bank: Great American Insurance Group, Career: Modern Woodmen of America, Direct Response: Amica, Independent Agent: Jackson National Life,
Independent Broker/Dealer: Brighthouse Financial, National Broker Dealer: Global Atlantic Financial Group.

Click to continue to article…

Clicking third-party links will open a new tab and will take you away from TPPNAmeriLife.com. AmeriLife does not control the linked sites’ content or link.

Not Everything Needs to Change

Happy senior couple relaxing on the beach. By Anthony Iannarino – The Sales Blog – May 29, 2018

If you never change any of your beliefs, it’s proof you’re not growing. From time to time, you should revise what you believe; it’s proof you’re willing to take new ideas and new information – even when those beliefs conflict with what you believe now. Still, as much as some involved in marketing and sales want to adopt new and innovative external factors, it’s still the intangibles that win – and produce the best results.

Things like self-discipline (keeping your commitments), optimism (positive and future-oriented), caring (empathy), competitiveness (the love of a good contest), initiative (being proactive), resourcefulness (problem solving) and determination (intestinal fortitude) make up a good part of success – especially in sales and marketing, where these attributes are magnified. Look for new tools, but keep what works.

Click to continue to article…

Clicking third-party links will open a new tab and will take you away from TPPNAmeriLife.com. AmeriLife does not control the linked sites’ content or link.

Med Supp Premium Grows 6.6% to $31 B

Red arrow and percentBy Kristin Steenson – CSG Actuarial – May 29, 2018

UPDATE: Last month CSG Actuarial shared information from the NAIC and other sources and reported that total earned premiums in 2017 for the Med Supp market were $31 billion, a 6.6% increase over 2016.

A few other data points of interest:

  • There are only eight carriers with more than 100,000 Med Supp lives in 2017 and 5% growth in Medicare Supplement lives for each of 2015, 2016 and 2017: Aetna, Cigna, Humana, American Enterprise, USAA, Torchmark, Physicians Mutual and Manhattan Life Group.
  • There are only six carriers (including mergers & acquisitions) with more than 50,000 Medicare Supplement lives in 2006 and average annual growth in Medicare Supplement lives greater than 7.5% for years 2006 to 2017: Mutual of Omaha, Aetna & Genworth, Cigna & Great American, Blue Shield of CA, Transamerica and USAA.

% of Policies by Plan / Incurred Years: 2013-2017

Policies Issued Within 3 Years of Each Incurred Year

of Policies by Plan Incurred Years 2013-2017

States with the highest percentage of Medicare Supplement policies relative to total Medicare lives: Nebraska, Iowa, Wyoming, Kansas and North Dakota.

States with the lowest percentage of Medicare Supplement policies relative to total Medicare lives: Hawaii, Minnesota, New York, New Mexico and Alaska.

Click to continue to article…

Clicking third-party links will open a new tab and will take you away from TPPNAmeriLife.com. AmeriLife does not control the linked sites’ content or link.

Med Supp Use Continues to Rise

Businessman analyzing growing 3D AR chart floating above digital tablet computer screen, showing successful increase in business profitBy Allison Bell – ThinkAdvisor – May 18, 2018

The number of people with Medicare Supplement (Medigap) insurance increased to 13.6 million in 2017, up from 13.1 million a year earlier, according to the American Association for Medicare Supplement Insurance. Med Supp plan use has increased 40% since 2010, said AAMSI.

Click to continue to article…

Clicking third-party links will open a new tab and will take you away from TPPNAmeriLife.com. AmeriLife does not control the linked sites’ content or link.

Agent Annuity Commissions Rose in Q1

Loving senior couple dancing in balcony. Happy man and woman are spending leisure time together. They are at home.By Cyril Tuohy – InsuranceNewsNet – May 29, 2018

Here’s some good news for agents selling fixed annuities: the products paid a bit more in the first quarter than they did last year. Agents selling indexed annuities did well on two fronts: not only did indexed annuity commissions rise, agents sold a lot more indexed annuities, compared with the year-ago quarter, and compared to Q4 ‘17, Wink reported.

With regulatory challenges now behind them, indexed annuity sales are expected to resume with momentum, and possibly break sales records set in 2016, analysts said.

Click to continue to article…

Clicking third-party links will open a new tab and will take you away from TPPNAmeriLife.com. AmeriLife does not control the linked sites’ content or link.