2) California Man Accused Of New York Life Extortion Attempt

3) Hewitt Survey Shows Employers Continuing to Invest in Health of Workers Despite Uncertainty of Future Health Care Landscape

4) Sebelius Sends Letter to Insurance Company CEOs, Calls on Executives to Publicly Justify Premium Hikes

6) AIMS Benefit Solutions Expands and Strengthens Life, Annuity, and Disability Offerings Through MedLink Alliance

7) One in Five U.S. Life Insurance Policies Sold Through Direct Marketing

8) FACTBOX-AIG's Progress On Asset Sales

9) Promontory Financial Group Study Cites Inherent Problems With A Pre-Funded Systemic Dissolution Fund for Financial Firms

10) U.S. Millionaire Ranks Up 16 Percent Last Year: Study

11) World Equities Up 73 Percent A Year After Crisis Low

12) Arizona State Retirement System Selects TIAA-CREF for New Supplemental Voluntary Retirement Plan

13) BestWeek Asia/Pacific: Japan Life Market in Play With MetLife Bid for AIG's Alico

14) Fireman’s Fund Insurance Company Provides Small Business Tips to Help Owners Prevent Employee Theft and Fraud

15) Jack Hanna Announces New Partnership with Nationwide Insurance

16) AssureSign Announces Retirement of President and Chief Technical Officer Dale Combs

17) CLTCC, LTC Solutions and Hoopis Performance Network Partner in e-Learning Initiative

18) Genworth Arms Financial Advisors with New Communication Tools for Investment Approaches

19) New Research Finds Variable Annuity And Life Policy Holders Eager To Adopt Electronic Delivery Of Prospecutses And Related Compliance Documents

20) INSURANCE NEWSCAST "Pictures Of The Day"

Note: All Links Below Open A New Window:

21) Phillips Benefits Advisors Becomes Ban Member

Democrats doubt deadline on healthcare

Tue Mar 9, 2010 7:17pm EST

WASHINGTON (Reuters) - Congressional Democrats on Tuesday cast doubt on their chances of meeting the White House's March 18 deadline for voting on a stalled healthcare overhaul, but said they are moving as fast as they can.

With Democrats scrambling to line up support and determine what to include in a final healthcare package, the March 18 target set by White House spokesman Robert Gibbs last week appears unlikely -- to the surprise of no one in Congress, where healthcare deadlines have been missed repeatedly.

"None of us have mentioned the 18th other than Mr. Gibbs," Steny Hoyer, the Democratic leader in the House of Representatives, told reporters. "We are trying to do this as soon as possible. That continues to be our objective."

Gibbs later told reporters he still thought the House could vote on the Senate's version of healthcare reform before President Barack Obama leaves on an overseas trip on March 18.

"I've been given nothing that would change that advice that I was given last week," Gibbs said.

Congress has struggled to pass healthcare reform, one of Obama's top legislative priorities, and has missed a series of White House-imposed deadlines for approving the bill and sending it to the president for his signature.

If the deadline were to slip much further, beyond the two-week congressional break for Easter, the challenges of passing a bill would increase because of the limited window of opportunity for approving legislation in an election year.

Democrats hope to finish work by the end of March on Obama's healthcare plan, which is designed to rein in costs, regulate health insurers and expand coverage to tens of millions of Americans.

The House and Senate passed separate healthcare reform bills last year, but efforts to merge them into a final product collapsed in January when Democrats lost their crucial 60th vote in a special Senate election in Massachusetts.

Democrats now hope to approve the final legislation in a two-step process. House Democrats would approve the Senate's version of the bill and the two chambers would pass a separate measure making changes to the Senate bill sought by Obama and House Democrats.

The second bill would be passed using a process called reconciliation requiring only a simple majority in the 100-member Senate, bypassing the need for 60 votes to overcome Republican procedural hurdles.

Senate and House leaders are still putting the second bill together and awaiting cost estimates from the Congressional Budget Office, a process that could slip into next week.

Republicans warned House Democrats not to count on the Senate to pass the second bill.

"House Democrats will have to decide whether they want to trust the Senate to fix their political problems," Republican Senate leader Mitch McConnell said.

The bill incorporates fixes to the Senate bill proposed by Obama last month, including modifications to a tax on high-cost "Cadillac" health insurance plans and expanded federal subsidies to make insurance more affordable.

(Reporting by John Whitesides, Donna Smith and Caren Bohan; editing by David Alexander)

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“incumbent carriers seem more willing than ever to walk away from existing business.”

.“Last Thursday, I asked CEOs to post online the actuarial justification for premium hikes so consumers can see why their premiums are skyrocketing. Now, it’s time for these insurance company CEOs to do their part to make the system more transparent for the American people. If insurance companies are going to raise rates, the least they can do is tell us why.”

The letter comes shortly after a new analysis from Goldman Sachs found that competition in the insurance market is so weak, insurance companies can continue to raise rates even if it means losing customers. The analysis found that “price competition is down” and that “incumbent carriers seem more willing than ever to walk away from existing business.”

A copy of Sebelius’ letter to the executives is included below.

Dear__________, 

Thank you for taking the time to join our discussion about health insurance premium increases on Thursday at the White House. There is no question that our health insurance system is broken, and unsustainable for both the American people and your companies. I appreciated the opportunity to meet with you and discuss these very serious issues. 

As we discussed, both the President and I continue to hear from concerned Americans who don’t understand why their premiums continue to rise. For many families, these high premiums have made health insurance unaffordable. At the same time, these families have heard reports of insurance companies taking in multi-billion dollar profits. 

At our meeting, you and your colleagues discussed the importance of addressing and controlling the underlying cost of health care. President Obama agrees, and his comprehensive health reform proposal includes a series of cost-reduction strategies. You noted the need for a larger pool of insured individuals to balance risks. This element is also included in the President’s proposal. 

In our discussion, we also agreed that we will all benefit by making our health care system more open and transparent. To that end, I am reiterating the request I made at our meeting on Thursday: post on your websites the justification for any individual or small group rate increases you have implemented or proposed in 2010, and continue to post such a justification in connection with any future increases. Posting this information will give Americans the opportunity to learn more and ask questions about rate increases that affect them. 

At a minimum, I ask that you include the following in your justification: 

1. Your estimates on medical cost and utilization increases, the assumptions driving these estimates, and the basis for those assumptions.

2. If your premiums increase more than estimated medical costs, a description of what accounts for those differences.

3. The number of people who will be receiving premium increases, as well as the number of people who will be receiving different levels of premium increases, further broken down by characteristics including plan type, age, and sex.

4. Enrollment changes in your different plans since the past year.

5. The number of people on whose experience the rate increase is calculated.

6. Any premium rating variation including rating variation by age and health status.

7. An affordability plan explaining what the company is doing to improve the affordability of health care, and the estimated financial impact of the company's affordability initiatives.

8. An explanation of any cost containment or quality improvement efforts you have made that affect the increase.

9. The expected medical loss ratio resulting from any premium increase.

10. Information on the percentage of premium revenues you spend on medical claims, disease management, quality initiatives, administrative costs, profits, and executive salaries broken down at least by market type.

The President is committed to passing health insurance reform that fixes our health insurance system and helps bring down costs for all Americans. These reforms will give American families the peace of mind they need and deserve, and will make our system more transparent. I hope your company will join our effort to make health care in America more transparent, and post this critical information without delay. 

Sincerely, 

Kathleen Sebelius

Contacts

HHS Press Office

AIMS Benefit Solutions has been offering agents its newly expanded offerings since January 2010. Under the new relationship, AIMS provides marketing support for MedLink's LTCi agents while MedLink does the same for life offerings from AIMS agents.

"This new venture is part of our overall strategy of transitioning from a sole focus on LTCi products to offering multiple product lines," said Steve Dozier, president of AIMS Benefit Solutions. "We are teaming with top companies that hold the most competitive products in the life, annuity, and disability markets. Since MedLink's structure and personnel are very similar to our own, we are able to support each other's agent services seamlessly."

MedLink has also helped AIMS create a new Web site for life brokerage products at http://www.lifeandhealthonline.net/aims. "We always aim to provide unsurpassed service to insurance agents, and our new Web site will allow them to run proposals, review underwriting guidelines, download forms, send physician inquiries and request proposals from our staff," said Dozier.

In October 2009, as it began to expand its portfolio, AIMS changed its name to AIMS Benefit Solutions to signify the expansion into other markets. However, amid its ongoing transformation, the company has preserved its business model, processes and tools - licensing, training, support, material development and provision of innovative products - designed to facilitate agents' selling process from start to finish.

About MedLink

Founded in 1991, MedLink is a national "wholesale" insurance brokerage agency offering brokers a comprehensive portfolio of products and services, including employee benefits, individual life, long term care, disability, 401(k) plans, annuities, state-of-the-art technology and group enrollment services. MedLink currently works with a proprietary network of more than 3,000 independent brokers. Over 10,000 brokers have access to the agency's products and services through its regional and national partners. For more information, call 1-866-683-1847.

About AIMS Benefit Solutions

As part of its mission to be the "One Call, One Source, One Solution" for agents, AIMS Benefit Solutions now offers a variety of products such as long term care insurance, life insurance, traditional worksite products, Medicare supplement policies and Affinity Discount Card services.

In addition to national marketing, AIMS has been a Marketing Services Administrator for multiple carriers for more than 20 years, allowing agents to focus on what they do best rather than administration. The company's turn-key marketing support also includes the CASH-First LTCi program from United of Omaha, a LTCi product that provides cash on the first day of qualified need with no elimination period.

AIMS Benefits Solutions is located at 101 TechnaCenter Drive, Montgomery, AL. For additional information, please contact AIMS at 1-800-325-9876 or info@aimsbenefits.com. ;

Contact: AIMS Benefit Solutions, 800-325-9876, steve@aimsbenefits.com 

“For the first time, we have been able to quantify the amount of individual life insurance sold through direct channels, like the Internet, direct mail and telephone,” said Ron Neyer, senior analyst, LIMRA Distribution Research. “This includes both sales generated directly through carriers, as well as by third-party quoting aggregators. Direct marketing accounts for a much larger portion of life insurance sales than previously reported. We believe this will be valuable information for the industry to track the growth of this distribution channel in the coming years.”

Byron Udell, chairman of LIDMA’s Market Research Committee added: “We’ve known for a long time that direct response produced a significant volume of life insurance sales. Knowing that approximately one out of every five individual policies comes from a direct channel speaks to the great strides that our niche continues to make in today’s marketplace.”

LIMRA and LIDMA researchers estimate that over 2 million individual life insurance policies sold in 2008 were purchased through direct channels.  In addition, direct response sales totaled $675 million in new premium in 2008 and total face value reached $233 billion.

The number of consumers who bought insurance online has doubled since 2006.  Price, convenience and a good Web site were the top factors that influenced these consumers.  With advances in technology, researchers anticipate that more consumers—especially younger generations—will use direct channels to buy life insurance in the next 5 to 10 years. ;

www.limra.com

www.lidma.org

ASSET    ; BUYER    ;  PRICE

AIA   ;   ;   ; Prudential Plc    ; $35.5 bln

Alico    ; MetLife    ;   ;  $15.5 bln

Nan Shan Life    ; Primus, China Strategic ;  $2.15 bln

Asset management   ;  Pacific Century Group  ;  $500 mln

AIG Finance (Hong Kong) ; China Construction Bank ;  $70 mln**

AIG FP energy investments Various    ;   ;  $1.9 bln

Transatlantic Hldgs stake Offering of shares   ; $1.1 bln***

Office bldg, Tokyo   ;  Nippon Life Insurance  ;  $1.2 bln

21st Century Insurance ;  Zurich Financial  ;   ; $1.9 bln

Unibanco AIG Seguros  ;  Unibanco    ;   ; $820 mln

Hartford Steam  ;   ;  Munich Re   ;   ;  $739 mln

US life premium finance ; Unit of Wintrust Financial $679.5 mln

AIG Life of Canada   ;  BMO Financial Group   ;  $263 mln

AIG Private Bank   ;  Aabar Investments   ;  $253 mln  *

For list of all AIG deals announced since September 2008, see here.

** Deal also includes repayment of intragroup debt and deposits of about $557 million

*** AIG also commenced a secondary offering of its remaining 9.2 million Transatlantic shares on Monday.

(Reporting by Paritosh Bansal)

© Thomson Reuters 2009 All rights reserved

“Analysis of Funding Mechanisms for Systemic Dissolution Fund”

.Two financial regulation reform bills in Congress would authorize the Federal Deposit Insurance Corporation (FDIC) to establish a new systemic dissolution mechanism funded through assessments on large firms to recover the cost to the government of assisting failing financial companies. However, the bills would apply the assessments in different ways.

Legislation passed in the House, the Wall Street Reform and Consumer Protection Act (H.R. 4173) would require the fund administrator to assess large financial firms before incurring any dissolution costs. Draft legislation in the Senate, the Restoring American Financial Stability Act of 2009, would permit assessments only after the fund incurs a cost.

At the request of the American Council of Life Insurers (ACLI), Promontory analyzed the implications of building a pre-funded versus post-funded systemic dissolution fund. Promontory’s study concluded that from a financial policy perspective, a post-funded regime is superior to a pre-funded system.

Promontory’s analysis found that a pre-funded system would:

 • Divert funds that firms would otherwise use to hamper efficient investment and credit availability in the overall economy;

 • Increase the potential for moral hazard in which market participants or market supervisors perceive the fund as a partial guarantee and engage in riskier than normal behavior;

 • Unfairly assess risk across various industries—banking, insurance, securities broker-dealers and hedge funds—that have different business models entailing different risks.

By contrast, the analysis found that a post-funded regime would minimize these problems.

Promontory’s study also found that neither a post-funded nor pre-funded regime would expose tax payer dollars to any risk of footing the bill for a systemic failure.

“Although a post-funded regime would necessarily entail either borrowing from the taxpayers or a public auction of Treasury securities backed by the taxpayers, the industry would eventually repay these funds with interest. The experience of the state insurance guarantee associations and the Financing Corporation (FICO) in collecting long-term post-event assessments from the insurance and banking industries, respectively, offers no reason to doubt the efficacy of a post-assessment regime in protecting the taxpayers,” the study concluded.

A full copy of the study, “Analysis of Funding Mechanisms for Systemic Dissolution Fund” is available at www.promontory.com/newsandresources.aspx. 

About Promontory Financial Group LLC

Promontory Financial Group, headquartered in Washington, D.C., is the premier global consulting firm for financial services companies. Promontory has offices in New York, San Francisco, and Atlanta, and affiliate offices in London, Milan, Paris, Singapore, Sydney, Toronto, and Tokyo. Eugene A. Ludwig, former U.S. Comptroller of the Currency, founded Promontory in 2000. Visit us on the web at www.promontory.com. 

CHARLOTTE, North Carolina

Tue Mar 9, 2010 10:17am ESTCHARLOTTE, North Carolina (Reuters) - The number of U.S. households with a net worth of at least $1 million jumped 16 percent last year after dipping sharply during the financial crisis, an industry consulting group said on Tuesday.

Households with a net worth of $1 million or more, excluding their primary residence, totaled 7.8 million in 2009, up from 6.7 million in 2008, according to Spectrem Group.

The number of millionaire households shrank by 27 percent in 2008, it said.

The current total is still well below the record 9.2 million millionaire households reported in 2007, Spectrem said.

Last year's spike came as U.S. stock markets rallied. The S&P 500 Index rose 28 percent, and the largest wealth management firms reported strong earnings as their clients' accounts recovered from the 2008 meltdown.

The study also found ultra high net worth families -- those with at least $5 million -- grew 17 percent last year to 980,000, Spectrem said.

Households with $500,000 or more topped 12.7 million, up 12 percent.

Spectrem said its study was based on surveys of 3,000 affluent households and online surveys of roughly 2,600 families.

 (Reporting by Joe Rauch; editing by John Wallace)

LONDON (Reuters) - Equities have had a volatile 2010 so far, but globally they remain around 73 percent higher than the low ebb of the financial crisis exactly 12 months ago.

MSCI's all-country world stock index .MIWD00000PUS, a broad measure of global equities, hit a low on March 9, 2009.

The index then rose around 80 percent before hitting a high on January 11, this year.

On Tuesday, the index was down 0.8 percent, for a year to date gain of just 0.1 percent. But the index is up some 73 percent from its closing low one year ago.

© Thomson Reuters 2009 All rights reserved

NEW YORK--(BUSINESS WIRE)--TIAA-CREF today announced it has been selected by the Arizona State Retirement System (ASRS) as the single provider for its 403(b) and 457(b) supplemental voluntary retirement plans.

“This statewide offering creates an opportunity for plan sponsors and employees to benefit from economies of scale not generally available to smaller retirement plan sponsors, resulting in reduced costs that may lead to additional income for employees in retirement.”

.The new statewide supplemental voluntary retirement plan will be available to 179,000 eligible employees among 600 employers in the state’s public school districts, community colleges, and local governments and agencies. This new plan complements the state’s existing defined benefit plan.

“TIAA-CREF’s ability to provide a plan tailored to the needs of our public school teachers and administrators and our local government employees was instrumental in our decision,” said Paul Matson, Executive Director, Arizona State Retirement System. “We are especially pleased that, through the pooling of assets across the employers and participants that utilize the plan and the professional oversight of the ASRS, we can bring employees a professionally managed, low-cost, retirement saving option that can help the career school teacher to potentially achieve additional accumulations and retirement income compared to other commonly available defined contribution plans.”

Employees will gain access to objective investment advice and education from both local TIAA-CREF Individual Consultants and telephone-based Consultants familiar with the plan offerings to help them best meet their long-term financial needs. Working with TIAA-CREF, the Arizona State Retirement System will also have access to the TIAA-CREF’s Compliance Coordinator service, which provides plan sponsors a cost-effective, proactive approach to compliance with 403(b) regulations. www.tiaa-cref.org

A.M. Best Co.’s BestWeek Asia/Pacific is a multimedia online digital newsletter for insurance professionals. The 9 March edition is available at www.bestweek.com/bwap030910.html or by visiting www.bestweek.com. 

This week’s edition also looks at Axa Affin’s expansion strategy in Malaysia’s general insurance market.

The edition includes an audio interview with Neil Katkov, head of Asia at consultancy Celent, on the MetLife-Alico deal.

Video reports include a review of the A.M. Best Stock Indexes for Asia/Pacific, Global Brokers and Global Reinsurers and video news updates.  

NOVATO, Calif.--(BUSINESS WIRE)--Employee theft and fraud contribute to more than 30 percent of business failures according to the Department of Commerce. Fireman’s Fund Insurance Company works with owners to protect their companies and is offering tips for the 28 million U.S. small business owners to help manage liability risks.

“Employee theft and fraud can potentially be financially devastating for small businesses so Fireman’s Fund encourages owners to become even more vigilant in protecting their company”

.“Employee theft and fraud can potentially be financially devastating for small businesses so Fireman’s Fund encourages owners to become even more vigilant in protecting their company,” said Bruce Petersen, senior vice president of Commercial Insurance at Fireman’s Fund.

Small businesses employ more than half of all private-sector workers, pay 44 percent of total U.S. private payroll and have generated 64 percent of net new jobs over the past 15 years, according to Small Business Administration’s (SBA) Office of Advocacy.

The recent recession and layoffs have fueled the growth of small business, but, statistically, about half will fail in their first five years, even in non-recessionary periods. This is why small business owners must take the necessary precautions to prevent employee theft and fraud.

Small businesses can minimize opportunities and temptations for employee theft and fraud by:

 • Screening prospective employees thoroughly. The employment application form is an essential tool for screening prospective employees. Prior employment references should be thoroughly investigated and if the position being applied for is of a sensitive nature, owners should run background checks through appropriate law enforcement agencies.

 • The thief can be anyone, even a trusted employee. Employees who steal typically have worked at a business for several years before starting to steal and continue for an average of three years before being discovered. Theft can involve cash-on-hand, or embezzlement of raw materials and inventory, or other property.

 • Know your employees. Be alert to the following characteristics of employees that are key indicators of potential theft:

Sudden, apparent devotion to work and working late

Lifestyles well above salary levels

Strong objections to procedural changes related to financial, inventory or supply matters

Drugs and alcohol abuse

Moonlighting jobs which use materials available from their employers

Evidence of compulsive gambling, persistent borrowing, bad check writing and consistently requesting advances

To limit opportunities for employee theft, Fireman’s Fund also recommends that small business owners implement the following controls:

 • Purchase Orders. The payment, receipt and preparation of purchase orders should be separate functions and handled by different individuals. Use serially pre-numbered purchase orders and incoming goods should be verified.

 • Cash Receipts. Use serially pre-numbered sales slips. Conduct weekly audits and the balancing of sales slips and the register should be done by someone other than the sales clerk.

 • Audits. Make unannounced internal audits and have a yearly audit performed by an outside firm.

 • Vacation Policy. Enforcement of a strict vacation policy is a precaution against employee dishonesty.

 • Computer Security Measures. Understand your computer system and how it can be used to divert money or inventory. Restrict access to computer terminals and records. Periodically change entry codes and check regularly to ensure that security procedures are in effect and include computer records in audits.

 • Checks. Use pre-numbered checks. Checks should be typed or written in permanent ink. Lock blank checks and signature machine in a secure place. Employees with duties that do not include check preparation or distribution should reconcile bank checking account.

 • Merchandise – Inventory. Separate receiving, storekeeping and shipping functions. Physical inventories should be done annually by individual not responsible for inventory records.

 • Accounts Receivable. Separate mail opening and posting functions. Record checks and cash in appropriate registers and stamp checks for deposit only.

www.firemansfund.com

COLUMBUS, Ohio--(BUSINESS WIRE)--Jack Hanna announced today a new partnership with Nationwide Insurance. Hanna’s popular syndicated TV show, Jack Hanna’s Into the Wild and his national speaking tour, “Jack Hanna’s Into the Wild LIVE” will be sponsored by Nationwide Insurance®.

“I’ve spent my whole career as an advocate for animals and conservation. My partnership with Nationwide Insurance is a natural fit because they are advocates too – for their customers, their hometown community, and their hometown zoo.”

.“I’m pleased to begin this new relationship with my longtime friends at Nationwide Insurance,” said Hanna. “I’ve spent my whole career as an advocate for animals and conservation. My partnership with Nationwide Insurance is a natural fit because they are advocates too – for their customers, their hometown community, and their hometown zoo.

Nationwide, based in Columbus, Ohio has been a long-time supporter of the Columbus Zoo and Aquarium, dating back to Hanna’s early days as zoo director in 1978 and Nationwide’s support of the American Bald Eagle Exhibit. This year, Nationwide is supporting the return of polar bears to the Columbus Zoo as a major donor for the new Polar Frontier exhibit. Nationwide Insurance and the Columbus Zoo are partnering again as joint title sponsors of Jack Hanna’s Into the Wild.

“For decades, Jack Hanna has been a tireless ambassador for animal conservation, the Columbus Zoo and our hometown,” said Jim Lyski, chief marketing officer for Nationwide. “It’s this passion that we feel is a perfect match for the Nationwide brand. We hope to build a strong relationship with the millions of fans of Jack Hanna’s Into the Wild by establishing common ground in our shared advocacy for wildlife conservation and the protection of all living creatures.”

Nationwide Insurance will have a presence in Jack Hanna’s Into the Wild starting the weekend of March 13, 2010. To find out when the show airs, please visit www.jhitw.com. Visit www.nationwide.com/jackhanna for more information on Jack’s partnership with Nationwide.

www.jackhanna.com

The Corporation for Long-Term Care Certification, Inc. (CLTCC) which created the Certified in Long-Term Care (CLTC) designation has partnered with LTC Solutions, Inc and Harry Hoopis of the Hoopis Performance Network (HPN) to develop and deliver the CLTC course on line.

CLTC e-Learning brings the widely acknowledged standard in long-term care planning education to the internet using state of art multi-media technology. This technology gives students a classroom experience with the added advantage of being able to take the course where and when they choose.

Under the alliance, CLTC e-Learning will be hosted by HPN, which has become synonymous with professional sales and leadership training in the life insurance industry.

“Our partnership with Harry allows us to expand CLTC to a broader range of insurance and financial service professionals who have wanted to take the program but found it difficult to attend the 2-day course”, stated Harley Gordon President of CLTCC, Inc.

“This alliance brings together three organizations with solid reputations for training, marketing and professionalism in the insurance industry,” said Harry Hoopis, CEO and co-founder of the Hoopis Performance Network. “The CLTC program is the most powerful sales and marketing tool for the sale of long-term care insurance I have seen in my 40 years in the insurance business. Period. This is a great addition to the Hoopis platform”.

H. T. Skip Liddell, President of LTC Solutions said, “The initial demand has been very strong, particularly from financial services firms, a key market in expanding long-term care insurance sales to the affluent”.

On-line registration for CLTC eLearning is scheduled for 2Q 2010.

For a preview of the program and how it helps you build your practice, visit: www.CLTCdemo.com

www.ltc-cltc.com
www.hoopis.com
www.CLTCPartnershipTraining.com

Pleasant Hill, Calif. (March 08, 2010) — Genworth Financial Wealth Management (GFWM), an investment management and consulting firm dedicated to helping financial advisors build great businesses and a division of Genworth Financial, Inc. (NYSE: GNW), today announced the release of Crossing the Sea, a book that uses a simple but powerful parable to help advisors explain the “sailing and rowing” investment approach to their clients.

The story describes two couples’ journey across the sea to retirement, each using a different approach. The first couple prefers a less active approach, symbolized by “sailing.” The second, concerned about periods when the wind might not be blowing in the right direction, prefers a more risk-averse “rowing” approach.  Ultimately, both couples suffer periods of doubt about the wisdom of their respective strategies. Both reach retirement safely – only to discover that a third approach designed to capture broad returns in bull markets (“sailing”), with more risk-averse approaches designed for bear markets (“rowing”) may have resulted in a less stressful journey.

Crossing the Sea was designed to illustrate complicated investment concepts through a simple, easily understood story. It is intended to be a conversation starter about how investors think about risk and volatility as they journey toward their financial goals. GFWM Advisors are able to access the book online at no charge from anywhere, including client meetings. GFWM also offers glossy, hard-cover copies of the book for advisors to give to clients, with the option to personalize the book’s interior flap to include the advisor’s biography, headshot, and company information.

“As the markets recover, one of the challenges advisors face is how to communicate with and reassure their clients in what is still an uncertain economy,” says Mark Schoenbeck, author of Crossing the Sea and Chief Marketing Officer for GFWM.  “The story provides a simple, effective way for advisors to illustrate the need for different types of investment strategies during a time when clients are nervous about “crossing the sea” to their desired destination.” To date, advisors have pre-ordered over 800 copies of the book, in both standard and customized editions.

As part of its ongoing efforts to help advisors through a volatile market and unpredictable economic conditions, GFWM is also expected to launch a website tool this spring to help advisors in a more interactive way that furthers the sailing and rowing metaphor described in Crossing the Sea. The site will feature vignettes about individual investors that illustrate the differences between cyclical and secular bull and bear markets, and contain a survey that will help investors analyze their investment style and generate a risk profile.

GFWM Advisors may order Crossing the Sea by contacting GFWM or emailing CrossingTheSea@genworth.com. The online version is available at http://www.genworthwealth.com/crossingthesea.html. Financial Advisors not currently working with GFWM who are interested in using Crossing the Sea with their clients may contact 800-664-5345.

ANDOVER, MA, March 9, 2010 – According to a new study commissioned by NewRiver, Inc. and conducted by Mathew Greenwald & Associates, there is strong appeal from variable annuity (VA) and variable universal life (VUL) policy holders to receive prospectus and related compliance documents electronically via e-delivery. More than half of the respondents who were not offered electronic delivery from their VA/VUL company said they would be interested in electronic delivery of their documents and prospectuses if it were available. Yet despite this opportunity, the insurance industry appears to be lagging behind other industries in effectively marketing and offering their e-delivery capabilities.  Findings from the study are available at http://www1.newriver.com/wp-7-form.asp.

While participants were split in their assessment on how their VA/VUL provider was promoting e-delivery, only one in four (26%) could ever recall being notified about the option. This is a missed opportunity for variable annuity and universal life companies as respondents stated they were interested in e-delivery. In fact, less than a third of the VA/VUL owners (29%) actually read the hard copy prospectus and other documents they receive, including a mere 6% who claim to read these documents from cover to cover.  Asked what was preventing them from using e-delivery, nearly three out of five (59%) respondents said it was due to the difficulty in reading compliance documents online.

“The summary prospectus is good news for policy holders who find online documents difficult and unwieldy,” said Russell E. Planitzer, CEO at NewRiver. “The availability of the new shorter, summary prospectus makes finding relevant information easier. Already a staple among mutual funds, e-delivery and layered disclosure is rapidly converging on the VA industry and is set to create the same enhanced user experience that mutual fund investors are getting today.”

In addition, the research showed that while nearly all VA/VUL owners consider themselves to be comfortable using computers for personal financial management (91%), the vast majority (86%) said they had no idea how they could go about receiving their financial information in this manner. ;

“This is a call to action for the insurance industry,” continues Planitzer. “There has long been a misconception within the insurance sector that due to its older customer demographics there isn’t a high level of interest in electronic delivery or that reading and accessing documents online is difficult. The research dispels this myth, as the majority of those who were either not offered or were not aware of the option of electronic delivery expressed an interest in it.”

To view the findings from the study visit http://www1.newriver.com/wp-7-form.asp.