Life & Health
Foresters Financial Launches Three New Non-Participating Whole Life Products in Canada. Press Release, December 12, 2016.
The products are Non-Par Whole Life, Simplified Non-Par Whole Life, and Child Non-Par Whole Life. They offer competitive premiums, guaranteed cash value, and bereavement assistance.
RBC Insurance Helps Canadians Manage their Healthcare Needs. Canada NewsWire, December 8, 2016.
RBC has partnered with Medical Confidence, Canadian healthcare navigation provider, to help customers manage their healthcare needs. They will receive healthcare navigation, targeted one-on-one support from registered health professionals, and assistance with locating specialists and scheduling appointments.
ExamOne Joins Manulife Vitality to Provide Free Annual Wellness Checkup. MarketWatch, November 11, 2016.
ExamOne has joined the Manulife Vitality program to provide Vitality Check, a free physical fitness check-up service for Manulife Vitality members. Customers who participate in this optional service earn Vitality Points, which can lead to rewards that include discounts on their life insurance premiums.
Manulife Launches Simplified Travel Product. Insurance Journal, November 8, 2016.
The new Premium Protection Plan offers trip cancellation, trip interruption, emergency medical, baggage loss and delay, and accident insurance. Coverage is limited to individuals age 69 and under who are traveling 23 days or less.
League Introduces Health Insurance Products for Canadian Businesses. Yahoo Finance, October 12, 2016.
League, the new digital alternative to traditional health insurance, has partnered with RBC Insurance to offer group life and health products to small employers. League's platform connects healthcare providers, employers, and consumers to provide a comprehensive digital health benefits experience. Employees access their benefits through the League app.
Market Trends & Innovation
$1 Million Commitment to Improve Wellness Around the Globe Through Diabetes Prevention and Management. Press Release, November 14, 2016.
Sun Life Financial Diabetes College has been launched to improve wellness worldwide through diabetes prevention and management. The online resource features a curriculum of five interactive modules focusing on how to prevent manage and treat diabetes.
Life & Health
Kansas City Life Announces Compass Elite IUL. Press Release. December 30, 2016.
Compass Elite Indexed Universal Life is an accumulation-oriented IUL product for those seeking more growth potential. The product provides income tax-free death benefit protection for beneficiaries and the opportunity to build cash value on a tax-deferred basis. It can also be sold to juveniles (age 0 to 14).
Staywell Health Plan Rewards Behavioral Health Providers for Prioritizing Treatment for Mental Illness. PRNewswire, December 1, 2016.
Staywell Health Plan has implemented a new physician incentive program to improve follow-up care for members in Florida who need behavioral health treatment following a hospitalization for mental illness. The program will provide financial rewards to behavioral health facilities that ensure members get needed follow-up appointments within seven days of discharge.
Cigna Launches One Guide – Simplified, Personalized Service to Help Choose a Health Plan, Improve Health and Reduce Costs. Press Release, November 30, 2016.
Cigna One Guide offers access to guided consultations via phone, mobile app and “Click-to-Chat”. Customers can now choose their benefits, build a personal team of specialists, and reduce health expenses through reward programs.
SoFi and Protective Life Make Term Life Insurance Dramatically Easier for Millennials. PRNewswire, November 14, 2016.
The new term life insurance by Protective Life being distributed by SoFi plan targets Millennials, offering speedy coverage without a medical exam in many cases and at competitive prices. The plan provides up to $1 million in coverage through an online application.
John Hancock Launches Industry-first Survivorship Life Insurance with the John Hancock Vitality Solution. Press Release, October 18, 2016.
Protection Survivorship Indexed Universal Life (SIUL) has added Vitality, offering life insurance coverage with an opportunity to increase cash values by linking to the performance of the S&P 500. Each person also can earn Vitality points by exercising and buying (and eating) healthy foods.
Savings & Retirement
Global Atlantic Helps Customers Face Retirement with Certainty. Press Release, December 20, 2016.
ForeCertain, a new single premium income annuity issued by Forethought Life Insurance Company and distributed by Global Atlantic, provides a simple way for customers to convert their savings into a retirement income stream.
Securian Expands Suite of Annuity Solutions to Give Advisors, Clients More Options. Press Release, November 28, 2016.
Securian Financial Group has added four new annuity solutions to its suite of products designed to help financial advisors meet their clients’ retirement income needs. They are: SecureLink Future, a fixed indexed annuity; Achiever Lifetime Income, an optional guaranteed lifetime withdrawal benefit (GLWB); Premier Protector, with an accelerated death benefit; and MultiOption Advantage, a variable annuity for fee-based platforms.
MassMutual Makes Deferred Income Annuity Product Available as a Qualified Longevity Annuity Contract (QLAC). PlanSponsor, November 16, 2016.
This longevity annuity product enables owners to delay distributions up to age 85.
John Hancock Retirement Plan Services Introduces New Financial Wellness Tool, Expands Partnership with EverFi. Press Release, November 1, 2016.
My Learning Center is a new financial wellness platform available to all John Hancock retirement plan participants. It provides an array of educational content accessible on mobiles and tablets covering topics such as credit cards, identity protection, and estate planning.
Robo-Advisers to Expand Deeper into Defined Contribution Space in 2017. PlanSponsor. December 28, 2016.
Automated advice is gaining ground in the retirement planning space with the release of a wide variety of products and services.
Market Trends & Innovation
Have Trouble Comparing VA, FIA riders? Test-Drive This Tool. LifeHealth Pro, December 13, 2016.
Cannex financial Exchanges Ltd. offers a tool for comparing and evaluating variable and fixed index annuities with living benefits.
Lincoln Financial Group’s Retirement Plan Services Business Launches New Online Participant Experience. Press Release, November 14, 2016.
Retirement Plan Services (RPS) offers an easy-to-navigate mobile website for customers. The website offers enhanced tools, a clean dashboard design and an upgraded online experience. The website shows how the money being saved will translate into income during retirement years.
FH® Cost Lookup CT is a health coverage mobile app available from iTunes and Google Play that offers Connecticut consumers the chance to estimate costs for medical and dental services. The app also gives essential information on how to plan, budget for and obtain healthcare.