Income Alternatives Industry

News

Genworth Renames Its Reverse Mortgage Unit

Liberty Reverse Mortgage will be renamed Genworth Financial Home Equity, completing the integration of one of the nation’s leading reverse mortgage companies into a leading insurer.

Many Near-Retirees Will Take Social Security at Age 62

About 73% of those intending to draw benefits at age 62 had no formal retirement income plan.

Morningstar Launches Retirement Payout Funds

The Morningstar Managed Portfolios Retirement Income Series portfolios aim to support annual cash flows of 4%, 5% and 6% of the client’s initial assets.

Jackson National Beefs Up Its Variable Annuity Options

LifeGuard Freedom DB, available only with the LifeGuard Freedom GMWB income option, lets investors generate lifetime income and provide for their heirs.

Allianz Life Launches Bonus EIA With Bonus GLWB

For each year during the accumulation period when no withdrawal is taken, the guaranteed income base rises by 12% of the original premium.

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Articles

Research Watch

The Center for Retirement Research (CRR) at Boston College has found that as many as 30% of Baby Boomers may suffer in retirement because they borrowed against their homes during the housing bubble.

Raising the Ceiling on Reverse Mortgages

The new law, H.R. 3221: Housing and Economic Recovery Act of 2008, raises the maximum amount of a reverse mortgage to $419,000, from the old limit of $200,160 in rural areas and $362,790 in metropolitan centers.

Research Watch

A 'perfect storm' of economic forces makes lifetime income annuities a smart move for women, according to a Wharton Financial Institutions Center essay.

The State of STOLI Laws

Recent amendments to the Viatical Settlement Model Act prohibit the sale of a life insurance policy for five years except in cases of terminal illness.

Putting a Freeze on STOLI (Not the Vodka)

Baby Boomers with in-force life insurance but inadequate savings are the target market of the burgeoning but much-criticized life settlement industry.

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