WOBURN, Mass.–(BUSINESS WIRE)–
SBLI today announced that its popular EasyTrak Digital Term product just got even better. In addition to the product’s existing built-in benefits, EasyTrak now automatically includes a Chronic Illness Rider, at no extra premium cost.
Designed with both affordability and convenience in mind, EasyTrak continues to deliver simple, streamlined protection. The Chronic Illness Rider allows eligible policyholders who meet rider criteria as certified by a physician to accelerate up to 50% of their death benefit, to a maximum of $250,000. The benefit is automatically included in the policy, making it easier than ever for clients to be financially empowered when they need it most.
“EasyTrak has always been about removing barriers and making life insurance simple,” said Wade Seward, SBLI Chief Distribution Officer. “With the addition of the Chronic Illness Rider at no additional premium cost, we’ve enhanced the product’s value while maintaining the speed and ease that agents and clients require.”
Affordable Protection — Built for Today’s Needs
EasyTrak is designed to help agents get coverage in place quickly and efficiently, offering:
Instant decisions on all applications;
Ability to instantly edit coverage; and
Quote-to-issue in just nine minutes.
Terminal illness benefits were already included, and with the addition of the Chronic Illness Rider, EasyTrak delivers expanded living benefits – without added premium or time to issue.
“With its fully digital experience, EasyTrak empowers agents to move at the speed of their clients’ lives,” Seward added. “By combining affordability, speed, and built-in living benefits, EasyTrak continues to raise the bar for modern term life insurance.” To learn more about EasyTrak, please visit SBLI Easytrak Digital Term – SBLI Partners.
About SBLI
For more than 115 years, SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) has offered simple, dependable life insurance solutions to families across the United States. With a focus on clarity, personal support and long-term trust, SBLI provides term and whole life products that help people protect what matters most. For more information, visit www.sbli.com.
Indexed universal life insurance hit a milestone in 2024: $3.8 billion in new premiums, capturing 24% of the total U.S. life insurance market. Yet IUL remains one of the most misunderstood and often misrepresented products in our industry.
Ian McDowell
IUL is a type of long-term whole life insurance policy that can be maintained via flexible premium payments, provides a death benefit to beneficiaries and has the opportunity for cash value accumulation. The cash value may earn credited interest based on the performance of an external market-linked index, subject to caps, rates and spreads.
For agents, ethical communication is the difference between sustainable success and short-term wins that damage your reputation. The agents who thrive don’t oversell benefits. They explain mechanics with transparency that builds professional trust.
Why transparency creates loyal clients
Kaiser Family Foundation (KFF) research reveals that half of insured adults struggle to understand their coverage. Specifically, 36% don’t know what their insurance covers. Yet clients working with transparent financial professionals report significantly higher satisfaction and loyalty.
The regulatory environment reinforces this reality. AG49-B regulations, effective since May 2023, eliminated experience refunds, multipliers and bonuses from illustrations — requiring you to show only actual index credits.
Try this opening approach: “I want to educate you on how IUL works, including its limitations, before we discuss whether it makes sense for you. I’d rather you make an informed decision, even if that means this isn’t the right fit, than sell you something you don’t fully understand.”
This transparency increases close rates. Clients trust that you’re putting their interests first. One of the best ways to help them visualize transparency is the client reality test. I always present two scenarios:
The illustrated projection
The alternate scale with conservative assumptions
Then ask:“If reality lands closer to the conservative scenario, does this still meet your objectives?”
If the answer is no, explore other options. About 30% of prospects decline at this point—and that’s exactly what should happen. IUL isn’t appropriate for everyone. Walking away from a commission preserves your reputation far more than forcing a bad fit.
Understanding IUL tax mechanics
Clarity on tax mechanics is what either builds or destroys credibility. Walk every client through the distinction between policy loans and withdrawals using real numbers from their specific illustration.
The policy loan reality check:
“When we discuss ‘tax-free income,’ we’re talking about policy loans. You borrow from the insurance company at [current rate], while your full cash value continues to earn index credits. These loans remain generally tax-free if the policy remains in force, allowing access to up to 90% of the policy’s cash value without immediate tax liability.”
“If you’re earning 8% and paying 5% on the loan, you’re earning a 3% arbitrage. But here’s what most agents won’t tell you: If performance lags for years and loan interest compounds, the policy can lapse and trigger a massive tax bill on phantom income you never actually received. That’s why we monitor this quarterly and adjust loan amounts based on actual performance.”
The withdrawal distinction:
“Withdrawals operate differently. They’re tax-free only up to your cost basis, which is the total premiums you’ve paid. Anything above that gets taxed as ordinary income and permanently reduces your death benefit. We use loans strategically when you need access and only consider withdrawals when you’re certain you won’t need that coverage later.”
Maximum-funded IUL policies use the lowest legally allowable death benefit and fund to IRS non-modified endowment contract limits over 4-7 years. This helps minimize annual insurance costs to 0.8%-1.5% of the cash value.
Essential discovery questions:
Walk me through your current retirement savings. Have you maxed out your 401(k) and individual retirement account contributions?
How do you feel about market volatility? Tell me about a time when a downturn impacted your decisions.
What’s your timeline? When do you need to access this money?
Would you commit to quarterly reviews, even if that means adjusting premiums when performance lags?
How does your retirement savings plan react to your death? Are loved ones covered? Do you have a succession plan?
Remember that an IUL may not be the answer for a client’s specific needs or goals. IUL typically doesn’t work for clients who:
Need short-term coverage (term life costs less)
Want simplicity (whole life is straightforward)
Can’t commit to quarterly reviews
Are within 10 years of retirement
Have limited premium budgets
Building your practice on ethical IUL education
Match the product to the client, not the client to the product. This principle separates successful agents from those constantly chasing new business. When you master this consultative approach, you create clients who become your best advocates. They refer you to others because they genuinely understand and value what you’ve built for them.
Transparency drives retention. At every quarterly review, they show clients their actual credit rates alongside the original illustrations. When performance lags, have real conversations about their options: increasing premiums, adjusting loan amounts or modifying the death benefit. This honest dialogue builds trust that lasts.
Don’t overemphasize the upside of IULs. Start educating clients on realistic expectations, be transparent about them, and outline appropriate risk profiles and proper policy structure. Choose to be an educator and enhance your success.
The clients who truly understand their strategy stay. The ones who don’t, leave. Choose which practice you want to build.
Despite several high-profile lawsuits and continued market turbulence, indexed life insurance remains the preferred product for consumers.
Indexed life sales for the fourth quarter were $918.9 million, up 20% compared with the previous quarter, and up 6.2% compared to the record set in Q4 2025, Wink Inc. reported in its Sales & Market Report. Total 2025 indexed life sales were $3.2 billion.
Indexed life sales set both a quarter and yearly record, Wink found. Transamerica Life’s Financial Foundation IUL II, an indexed universal life product, was the No. 1 selling product for all life sales, for all channels combined, for the third consecutive quarter, Wink said.
“Indexed life sales have been setting records since a lull in 2020,” said Sheryl J. Moore, CEO of both Moore Market Intelligence and Wink Inc. “I am intrigued on how recent litigation will impact sales, going forward.”
IUL sellers are currently facing a wave of legal challenges centered on allegations of misleading marketing and unrealistic performance illustrations. In February, Pacific Life agreed to a $58.3 million settlement to resolve a lawsuit claiming it used deceptive illustrations to sell policies, shortly followed by a private settlement with NASCAR champion Kyle Busch, who alleged losses of over $8.5 million.
Meanwhile, National Life Group is defending a renewed lawsuit in Vermont where plaintiffs label its proprietary indices a “fraudulent sham” for using back-tested data that fails to match real-world 0% returns.
All life insurance sales for the fourth quarter were over $3.2 billion, up 14.9% compared to the previous quarter and up 3.2% compared to the same period last year. Total 2025 sales of all life insurance were $11.7 billion. All life sales include fixed universal life, indexed UL, variable UL, indexed whole life, whole life and term life product sales.
Courtesy of Wink, Inc.
Massachusetts Mutual Life Companies ranked as No. 1 in overall for all life sales, with a market share of 6.8%, Wink reported.
Wink’s full life insurance breakdown for Q4 and the full year, by product category:
All universal life sales for the fourth quarter were over $1.3 billion, up 20.9% compared to the previous quarter and up 5.2% compared to the same period last year. Total 2025 sales of all universal life products were $4.8 billion. All universal life sales include fixed UL, indexed UL, and variable UL product sales.
Noteworthy highlights for all universal life sales in the fourth quarter included Pacific Life Companies ranking as No. 1 in overall sales for all universal life sales, with a market share of 12.5%.
Courtesy of Wink, Inc.
Non-variable universal life sales for the fourth quarter were $1 billion, up 20.3% when compared to the previous quarter and up 5.6% compared to the same period last year. Total 2025 non-variable UL sales were $3.5 billion. Non-variable universal life sales include both fixed UL and indexed UL product sales.
Noteworthy highlights for total non-variable universal life sales in the fourth quarter included National Life Group retaining the No. 1 overall sales ranking for non-variable universal life sales, with a market share of 14%.
Courtesy of Wink, Inc.
Fixed universal life sales for the fourth quarter were $88 million, up 21.2% compared to the previous quarter and down 0.6% compared to the same period last year. Total 2025 fixed UL sales were $309.8 million.
Items of interest in the fixed UL market included Nationwide retaining its No. 1 ranking in fixed universal life sales, with a 18.4% market share; Prudential, Pacific Life Companies, John Hancock, and Thrivent Financial completed the top five, respectively.
Pacific Life’s PL Promise GUL was the No. 1 selling fixed universal life insurance product, for all channels combined, for the quarter. The top primary pricing objective, with a no-lapse guarantee, captured 34.1% of sales. The average fixed UL target premium for the quarter was $8,765, an increase of more than 19% from the prior quarter.
Courtesy of Wink, Inc.
Indexed life sales for the fourth quarter were $918.9 million, while total 2025 indexed life sales were $3.2 billion. The record-setting year for indexed life sales topped the prior 2024 record by 8.1%. Indexed life sales include both indexed UL and indexed whole life.
Items of interest in the indexed life market included National Life Group retaining its No. 1 ranking in indexed life sales, with a 15.3% market share; Pacific Life Companies, Transamerica, John Hancock and Nationwide rounded out the top five, respectively.
Transamerica Life’s Financial Foundation IUL II was the No. 1 selling indexed life insurance product, for all channels combined, for the fifth consecutive quarter. The top primary pricing objective for sales in the quarter was cash accumulation, capturing 73.8% of sales. The average indexed life target premium for the quarter was $13,293, an increase of nearly 7% from the prior quarter.
Courtesy of Wink, Inc.
Variable universal life sales for the fourth quarter were $391 million, up 22.4% compared with the previous quarter and up 4.3% compared to the same period last year. Since Wink began tracking sales of these products in 2024, it was a record-setting quarter for variable universal life sales, topping the prior 4th quarter, 2024 record by 4.3%.
Total 2025 variable UL sales were $1.2 billion. It was also a record-setting year for variable universal life sales, topping the prior 2024 record by 5.3%.
Items of interest in the variable universal life market included Prudential retaining the No. 1 ranking in variable universal life sales, with a 28.1% market share; John Hancock, Pacific Life Companies, Nationwide and Lincoln National Life completed the top five, respectively.
Pruco Life’s Prudential FlexGuard Life IVUL was the No. 1 selling variable universal life product, for all channels combined for the quarter. The top primary pricing objective for sales this quarter was cash accumulation, capturing 76.6% of sales. The average variable universal life target premium for the quarter was $25,659, an increase of nearly 14% from the prior quarter.
“No doubt that variable UL sales will be down in 2026,” explained Moore. “Volatility in the markets usually translates to declining sales of both variable annuities and variable UL.”
Courtesy of Wink, Inc.
Whole life fourth quarter sales were over $1.2 billion, up 17.4% compared with the previous quarter, and up 6.1% compared to the same period last year. Total 2025 whole life sales were $4.5 billion. Items of interest in the whole life market included the top primary pricing objective of final expense, capturing 70.2% of sales. The average premium per whole life policy for the quarter was $4,786, an increase of more than 20% from the prior quarter.
Courtesy of Wink, Inc.
Term life fourth quarter sales were $565.2 million, down 1.6% compared with the previous quarter and down 6.4% compared to the same period last year. Total 2025 term life sales were $2.3 billion.
Items of interest in the term life market include Pacific Life Companies ranking as No. 1 in term life sales, with a 5.5% market share. Prudential, Corebridge Financial, Protective Life Companies and National Life Group completed the top five, respectively.
Pacific Life’s Promise Term 20 was the No. 1 selling term life insurance product, for all channels combined, for the quarter. The average annual term life premium per policy reported for the quarter was $2,678, an increase of more than 20% from the previous quarter.
Courtesy of Wink, Inc.
Wink now reports sales on all annuity lines of business, as well as all life insurance product lines.
Cleveland Expands SWBC’s Leadership Footprint in Texas Insurance
SAN ANTONIO–(BUSINESS WIRE)–
SWBC is proud to announce that Joan Cleveland, President and CEO of SWBC Life Insurance Company and Executive Vice President of SWBC Property and Casualty Insurance Company, has been appointed by the Texas Commissioner of Insurance to the Texas Life and Health Insurance Guaranty Association (TLHIGA) Board of Directors. Cleveland will serve a term that runs until September 30, 2031.
Joan Cleveland, President and CEO of SWBC Life Insurance Company and Executive Vice President of SWBC Property and Casualty Insurance Company
“I am honored to serve on the TLHIGA Board of Directors and support the organization’s essential work of safeguarding Texans,” said Joan Cleveland. “Ensuring confidence and stability across the insurance landscape is paramount, and I look forward to contributing to this important work.”
Cleveland brings more than three decades of leadership and expertise in the life and health insurance industry. At SWBC, she leads strategic market development, product innovation, customer experience, and distribution strategies for the company’s life insurance operations.
“Joan’s leadership has strengthened SWBC’s reputation throughout the industry,” said Charlie Amato, Chairman and Co-founder of SWBC. “Her deep knowledge of the market and commitment to serving others make her an exceptional addition to the TLHIGA Board. We are incredibly proud to see her represent SWBC in a role that benefits Texans statewide.”
Cleveland is also a prominent national industry leader. She serves on the boards of the Life Insurers Council (LIC) and the Consumer Credit Industry Association (CCIA) and has previously been recognized as one of the Top 100 Women in Finance.
“Joan embodies the values SWBC was built on,” said Gary Dudley, President and Co-founder of SWBC. “Her appointment highlights the respect she has earned throughout her career, and I am confident she will bring valuable insight to TLHIGA’s mission.”
The Texas Life and Health Insurance Guaranty Association plays a vital role in consumer protection by ensuring that Texans continue to receive statutorily protected insurance policy benefits should a licensed life or health insurer or HMO be found to be insolvent and is placed into liquidation by a court. The Board is composed of nine members appointed by the Texas Commissioner of Insurance, representing both industry and public stakeholders.
About SWBC
As a diversified financial services company, SWBC provides financial institutions, businesses, and individuals with a wide range of insurance, mortgages, wealth management, employee benefits, and more. Headquartered in San Antonio, Texas, SWBC has partners and divisions across all 50 states and Mexico and manages businesses worldwide. No matter how wide its reach, SWBC always listens to our customers’ needs, analyzes their current situations, and recommends customized solutions. For more information about our innovative approach to personalized service, visit SWBC’s website.
Every year, tax season arrives with a familiar rhythm: gather the documents, crunch the numbers and file the returns. Although tax season is usually focused on the prior year, it offers life insurance professionals a powerful yet underused window for proactive planning.
Carly Brooks
The best planning insights might be sitting right in front of you on your client’s Form 1040. The tax return is more than a compliance document; it is both a diagnostic tool and a snapshot into your client’s financial life. Carefully reviewing your client’s Form 1040 can uncover needs related to income replacement, retirement readiness, legacy goals, long-term care, business planning and more.
This year, with the One Big Beautiful Bill Act creating the possibility of larger federal tax refunds for some taxpayers, clients may be more receptive than ever to these planning conversations. Use of these larger refunds may represent additional opportunities.
The 1040 can uncover planning opportunities that reveal unmet needs, spark deeper client conversations and shift tax time from a reactive moment into proactive, year‑round planning.
Filing status: Life changes that signal planning gaps
The top of page 1 of the 1040 may seem basic, but filing status tells one of the most essential stories. For example, a newly married couple may have combined finances for the first time. A recently divorced taxpayer may need insurance to secure alimony obligations. Head‑of‑household filers often have dependents relying on their income. Filing-status changes often prompt a review of protection needs or legacy planning considerations.
Act now:
Confirm whether life changes have triggered increased protection needs.
Review beneficiary designations, especially in the case of marriage, divorce, death, birth or adoption.
Discuss the need for income replacement or wealth equalization for blended families.
Dependents
Clients often think dependents change only when a new baby arrives. But dependents can also reflect elderly parents now under the clients’ care, a spouse’s children in a blended family or special‑needs dependents requiring lifetime planning.
Each of these can point to potential LTC, income replacement or estate planning conversations.
Act now:
Ask what would happen financially if the wage earner became ill or passed away.
Start a conversation on LTC if clients are already caregiving for someone else.
Line 1 (wages): Income replacement and spousal needs
Wages may be the simplest number on the return, but they quickly show how much income clients would need to replace after death or disability. You may also identify stay-at-home spouses who may have significant economic value despite lacking earned income.
Act now:
Perform a needs analysis using current income figures.
Review the economic value of a nonworking spouse, including how their loss would create new costs such as childcare and household management.
Connect income replacement to broader protection and legacy goals.
Lines 2–3: Interest and dividends
Taxable interest and dividends often represent conservative, low-yield holdings such as certificates of deposit, money market accounts, savings accounts or taxable investments producing ordinary income. Clients with significant amounts on these lines may be ideal candidates to reposition into more tax-efficient solutions, such as permanent life insurance with tax-advantaged cash value access.
Act now:
Ask clients about the purpose of these assets.
Use interest and dividend data to discuss tax diversification.
Lines 4–6: Individual retirement account, pension and Social Security distributions
If clients are already taking distributions, they’re either retired, forced to take required minimum distributions they don’t need, or using their retirement savings earlier than planned. All three situations can signal planning opportunities around LTC needs and legacy planning.
Act now:
Ask whether distributions are truly needed for income.
Introduce the idea of repositioning unneeded distributions into tax-efficient strategies.
If the clients are retired, discuss LTC and estate goals.
Line 7: Capital gains
Significant capital gains often indicate concentrated stock positions, real estate sales or passive investment turnover. Clients focused on legacy goals may be better served by repositioning highly taxable or volatile assets into tax-advantaged tools such as life insurance.
Act now:
Ask whether gains are part of ongoing investment activity or one-time events.
Explore whether the clients want these assets to pass to descendants.
Discuss the 3.8% net investment income tax for high earners.
Schedule 1: Business activities, rentals and retirement contributions
Schedule 1 is a treasure trove of additional information on your clients’ financial picture. For example, business income may open the door to conversations on a multitude of business planning needs, including buy-sell needs, key person and executive benefit opportunities.
Additionally, rental income may point to estate liquidity issues or unequal asset distribution among descendants, opening the door for discussions about asset transition and estate equalization.
Act now:
For business owners, discuss whether they have a buy-sell plan, and if so, if it is funded and has been recently reviewed.
Review whether key person insurance is in place.
Use rental income to discuss liquidity needs and equalization strategies.
Schedule A: Charitable giving
With doubled standard deductions now permanent under the OBBBA, fewer clients itemize deductions. Therefore, taxpayers with itemized deductions, reflected on Schedule A, often have significant charitable intent, large mortgages, or high state and local taxes (limited by the SALT cap of $40,000 for 2025 and subject to phase-out amounts).
For example, charitable giving is a natural segue to conversations around wealth replacement strategies and leveraging life insurance to amplify impact.
Act now:
Discuss using life insurance to boost charitable legacies.
Review mortgage balances versus existing coverage.
Explore tax diversification when SALT deductions are limited.
OBBBA refunds: The perfect conversation starter
Many clients may receive unexpectedly large refunds due to the OBBBA. Even though these refunds represent income withheld during the year and are being returned, for many clients, it feels like “found money,” which often makes them more receptive to planning recommendations.
Use the refund as a springboard to holistic planning conversations and forward-looking strategy.
Tax season doesn’t have to be a once-a-year administrative chore. With the right mindset, it can become a valuable annual prospecting and planning opportunity. The 1040 is rich with clues around life changes, income patterns, asset allocations, deductions, distributions and more. This window into your clients’ financial life opens the door to conversations clients should be having but rarely initiate.
This year, especially with OBBBA-related refunds creating additional talking points, leading with a proactive 1040-based analysis will help deliver greater client value and spark meaningful conversations to protect your clients’ financial future.
He was warm-hearted, witty, and multi-talented as a singer, woodworker, and gourmand who made his own sourdough starter and savored a nice wine with the dinner recipes he created. Murray Giles Hulse died peacefully in Charlottesville on February 1, 2026, with family singing to him at his bedside. In recent years he faced significant health challenges due to Parkinson’s Disease.
Murray was born in Elizabeth, NJ, to Stewart Harding Hulse and Katharine Jones Hulse on November 12, 1934. He was raised in Westfield, NJ, where he ran track in high school and where music became an important part of his life, beginning in his early years playing the clarinet and working at the local record shop.
Blessed with a beautiful baritone voice, he sang in choruses and select ensembles throughout high school and college. A member of Chi Psi fraternity and Choir, he graduated from Hamilton College in 1956 with a dual major in biology and music, which he liked to claim allowed him to teach frogs how to sing.
Soon after college graduation he began a career with Aetna Life Insurance Company that took him to Michigan, where he and his former wife welcomed and raised their three children in the northwest suburbs of Detroit. During that time, he studied voice with a renowned Metropolitan Opera baritone who said he wished he’d met Murray sooner since he “might have had a career.” He sang with the professional Kenneth Jewell Chorale and had numerous lead roles in musical theater productions in the greater Detroit area.
Wherever he was living Murray sang in the church choir, which is where he and Dory, his devoted wife and soul mate, first met. He was the one in the middle of the baritone section at rehearsals who wore an innocent expression while his fellow singers were guffawing over some witty pun he had just uttered.
After nearly two decades at Aetna, he transitioned to employee benefits consulting—a move that eventually drew him to Boston and New York City before he changed careers entirely. His departure from the corporate world turned a lifelong hobby into a full-time business. Murray started Time & Again Furnishings at home in Ridgewood, NJ, and soon moved to larger quarters as he grew the business of designing and building custom furniture and cabinetry. He was delighted when his son, Eddie, moved from Michigan to join him in the business in 1994. He brought his entrepreneurial business spirit to the Rotary Club of Ridgewood, serving on the Board and as President.
As a hobby Murray’s woodworking skill was top tier. Among his most ambitious projects was his restoration of a 1936 Chris-Craft, awarded a prize by the Lake Winnipesaukee (NH) Antique and Classic Boat Society. This recognition was particularly meaningful due to many decades he spent vacationing at Boulderwood, the special cottage his parents built on the lake which he acquired upon their passing, allowing another generation to enjoy truly memorable times there as well.
When the couple built their home in Earlysville, Virginia in 2002, the construction included a separate woodworking shop. Every room in the house shows his talent in its cabinetry, furniture, or both. Murray joined a club of fellow woodworkers, the Brothers in Wood, who share ideas, sometimes tools, and always camaraderie. When their church formed a Mission Construction Team, Murray didn’t hesitate to offer his skills to repair homes for those in need in Virginia’s coal country and post-Katrina New Orleans, making multiple trips to both locations.
A member of First Presbyterian Church in Charlottesville, Murray enjoyed singing in the church choir, spent a decade singing with the Oratorio Society of Virginia, and supported both Oratorio and the Charlottesville Symphony as a board member. A UVA Hoos fan alongside Dory, they enjoyed traveling together across the United States and three continents.
Murray is survived by Dory, his wife of 48 years, his sister Susan Logan, and three children from his marriage to Marilyn Jaffee: Katherine Loomis (Peter), Elizabeth Ludwig (Thomas), and Edward Hulse (Janine). He is also survived by Dory’s three sons: Matthew (Linda), Peter (Tabby), and Christopher (Carmen) Bailey, as well as a total of 15 grandchildren and 7 great-grandchildren. He also leaves nephews Daniel Logan (Sophia) and Stephen Hulse (Grace), nieces Melissa Hulse (Thomas Dingus) and Jennifer Hulse Mitchell, and five greatnieces and nephews. His brother Stewart Hulse Jr. predeceased him.
A memorial service will be held at 11 a.m. on Saturday, April 11 at the First Presbyterian Church, 500 ParkStreet, Charlottesville. A reception will follow in the Fellowship Hall. In lieu of flowers, memorial donations may be made to the Charlottesville Symphony, Oratorio Society of Virginia, First Presbyterian Church’s Music Endowment Fund or its Honduras & Mission Fund. Teague Funeral Home has assisted the family with arrangements (TeagueFuneralHome.com). Murray’s ashes will be placed in Monticello Memory Gardens.
He was warm-hearted, witty, and multi-talented as a singer, woodworker, and gourmand who made his own sourdough starter and savored a nice wine with the dinner recipes he created. Murray Giles Hulse died peacefully in Charlottesville on February 1, 2026, with family singing to him at his bedside. In recent years he faced significant health challenges due to Parkinson’s Disease.
Murray was born in Elizabeth, NJ, to Stewart Harding Hulse and Katharine Jones Hulse on November 12, 1934. He was raised in Westfield, NJ, where he ran track in high school and where music became an important part of his life, beginning in his early years playing the clarinet and working at the local record shop.
Blessed with a beautiful baritone voice, he sang in choruses and select ensembles throughout high school and college. A member of Chi Psi fraternity and Choir, he graduated from Hamilton College in 1956 with a dual major in biology and music, which he liked to claim allowed him to teach frogs how to sing.
Soon after college graduation he began a career with Aetna Life Insurance Company that took him to Michigan, where he and his former wife welcomed and raised their three children in the northwest suburbs of Detroit. During that time, he studied voice with a renowned Metropolitan Opera baritone who said he wished he’d met Murray sooner since he “might have had a career.” He sang with the professional Kenneth Jewell Chorale and had numerous lead roles in musical theater productions in the greater Detroit area.
Wherever he was living Murray sang in the church choir, which is where he and Dory, his devoted wife and soul mate, first met. He was the one in the middle of the baritone section at rehearsals who wore an innocent expression while his fellow singers were guffawing over some witty pun he had just uttered.
After nearly two decades at Aetna, he transitioned to employee benefits consulting-a move that eventually drew him to Boston and New York City before he changed careers entirely. His departure from the corporate world turned a lifelong hobby into a full-time business. Murray started Time & Again Furnishings at home in Ridgewood, NJ, and soon moved to larger quarters as he grew the business of designing and building custom furniture and cabinetry. He was delighted when his son, Eddie, moved from Michigan to join him in the business in 1994. He brought his entrepreneurial business spirit to the Rotary Club of Ridgewood, serving on the Board and as President.
As a hobby Murray’s woodworking skill was top tier. Among his most ambitious projects was his restoration of a 1936 Chris-Craft, awarded a prize by the Lake Winnipesaukee (NH) Antique and Classic Boat Society. This recognition was particularly meaningful due to many decades he spent vacationing at Boulderwood, the special cottage his parents built on the lake which he acquired upon their passing, allowing another generation to enjoy truly memorable times there as well.
When the couple built their home in Earlysville, Virginia in 2002, the construction included a separate woodworking shop. Every room in the house shows his talent in its cabinetry, furniture, or both. Murray joined a club of fellow woodworkers, the Brothers in Wood, who share ideas, sometimes tools, and always camaraderie. When their church formed a Mission Construction Team, Murray didn’t hesitate to offer his skills to repair homes for those in need in Virginia’s coal country and post-Katrina New Orleans, making multiple trips to both locations.
A member of First Presbyterian Church in Charlottesville, Murray enjoyed singing in the church choir, spent a decade singing with the Oratorio Society of Virginia, and supported both Oratorio and the Charlottesville Symphony as a board member. A UVA Hoos fan alongside Dory, they enjoyed traveling together across the United States and three continents.
Murray is survived by Dory, his wife of 48 years, his sister Susan Logan, and three children from his marriage to Marilyn Jaffee: Katherine Loomis (Peter), Elizabeth Ludwig (Thomas), and Edward Hulse (Janine). He is also survived by Dory’s three sons: Matthew (Linda), Peter (Tabby), and Christopher (Carmen) Bailey, as well as a total of 15 grandchildren and 7 great-grandchildren. He also leaves nephews Daniel Logan (Sophia) and Stephen Hulse (Grace), nieces Melissa Hulse (Thomas Dingus) and Jennifer Hulse Mitchell, and five great-nieces and nephews. His brother Stewart Hulse Jr. predeceased him.
A memorial service will be held at 11 a.m. on Saturday, April 11 at the First Presbyterian Church, 500 Park Street, Charlottesville. A reception will follow in the Fellowship Hall. In lieu of flowers, memorial donations may be made to the Charlottesville Symphony, Oratorio Society of Virginia, First Presbyterian Church’s Music Endowment Fund or its Honduras & Mission Fund. Teague Funeral Home has assisted the family with arrangements (TeagueFuneralHome.com). Murray’s ashes will be placed in Monticello Memory Gardens.
OLDWICK, N.J.–(BUSINESS WIRE)– AM Best has removed from under review with developing implications and downgraded the Financial Strength Rating to A (Excellent) from A+ (Superior) and the Long-Term Issuer Credit Ratings to “a+” (Excellent) from “aa-” (Superior) of Banner Life Insurance Company (Frederick, MD) and William Penn Life Insurance Company of New York (New York, NY) collectively referred to as Banner Life Group (Banner). The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect Banner’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management (ERM). The strategic importance of Banner, to its parent company, Meiji Yasuda Life Insurance Company (Meiji Yasuda), also was considered as part of the ratings.
The rating actions reflect the recent completion of the acquisition of Banner by Meiji Yasuda and the standalone assessment decoupled from Legal & General Group Plc’s (L&G) rating. AM Best expects Banner’s management team, organizational structure and business strategy to remain with some oversight provided by Meiji Yasuda who will now have representation on the group’s board of directors. The ratings reflect the early stages of Banner’s establishment as Meiji Yasuda’s main U.S. individual life insurer and its only pension risk transfer (PRT) presence, expanding its footprint in the U.S. insurance markets. Banner’s advanced underwriting technological capabilities are expected to be a competitive advantage in a market that is shaped by consumer experience. The group has a track record of growth in its core markets as a leading term life carrier, and benefits from a strategic partnership in growing its U.S. PRT business with both Meiji Yasuda and L&G. Banner’s premiums growth is expected to continue to generate favorable statutory operating gains going forward.
Banner’s balance sheet reflects its risk-adjusted capital, which is assessed at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). AM Best notes that capital has fluctuated historically due to statutory business strain and the impact of reinsurance transactions, but capital contributions have been utilized to maintain appropriate capitalization. As part of the strategic partnership with L&G, Banner is reinsuring a material amount of its in-force and new PRT business to a reinsurance entity within the L&G organization. Banner is expected to maintain a target risk-based capital of at least 400% under its new ownership. The investment mix is currently in line with peers, with allocations to a diversified portfolio of investment grade bonds and commercial mortgage loans.
Banner’s ERM program is comprehensive and well-developed as the organization maintains good governance structure and appropriate controls, and this is expected to be enhanced further under its new ownership.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Advantage Capital signed an agreement with global investment manager Oaktree Capital Management to provide critical funding support for its financially troubled life insurance subsidiaries.
The firm known as A-Cap announced the deal Friday for Oaktree to acquire a controlling stake in Atlantic Coast Life Insurance Co., while also providing capital to Sentinel Security Life Insurance Co.
Oaktree will fund a “surplus note investment into a newly created captive insurance company,” the new partners explained in a news release.
A-Cap battled state regulators and AM Best in recent years over the financial strength of Atlantic Coast and Sentinel Security. On Jan. 23, AM Best downgraded the financial strength ratings of both insurers. In 2024, A-Cap sued AM Best over a proposed ratings downgrade – a lawsuit later settled.
Kenneth King, chairman and CEO of A-Cap, stressed Oaktree’s “track record of investing alongside insurers, particularly during times of transition.
“Oaktree’s insurance-focused credit expertise and flexible, long-term capital will support disciplined growth of our balance sheet, enhance our asset liability profile, and strengthen our ability to serve our policyholders and distribution partners over the long term,” he added in a news release.
All of the net proceeds from the transactions will be used to “support the growth and long-term objectives of Sentinel and its policyholders,” the release said.
“The company will benefit from our meaningful experience in regulated carve-outs as it works to complete its pre-closing transaction milestones,” said Patrick C. George, senior vice president, global opportunities, at Oaktree. “Following closing, we believe both Atlantic Coast Life and Sentinel will be well positioned to prioritize policyholder protection, financial strength, and sustainable long-term growth.”
Oaktree is a global investment manager specializing in alternative investments, with $223 billion in assets under management as of Dec. 31, 2025. The firm “emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in credit, equity, and real estate,” the release said.
Financial strength questioned
AM Best said its ratings downgrade is “based on weakness in A-CAP Group’s business profile as manifested in the material decrease in new premium and material increase in surrenders/outflows, as well as reputational damage resulting from publicized regulatory rulings.”
Regulators argued A-Cap used flawed, internal valuations to overstate the worth of high-risk assets, while independent audits valued those same assets at significantly lower amounts. While the states banned the insurers from writing new business, administrative law judges in both states later stayed or overturned these orders.
A-Cap provided information that “demonstrates surrenders and outflows have decreased,” AM Best noted. The insurers’ primary focus is the fixed index annuity market, a “dynamic and credit sensitive sector with strong long-term prospects,” the ratings agency added.
AM Best downgraded the FSR from B++ (Good) to B (Fair) and the Long-Term Issuer Credit Rating from “bbb” (Good) to “bb+” (Fair) for both A-Cap life insurers.
“The downgrades are also based on a decline in AM Best’s overall assessment of A-CAP Group’s balance sheet strength,” the release added. “AM Best acknowledges A-CAP Group’s pending capital raise, but also recognizes its level of illiquid assets, concentrated reinsurance leverage, which is mitigated through the use of funds held and modified coinsurance agreements, along with a recent decline in its overall capital adequacy ratios that have not fully recovered to historic levels.”
If 2025 was the year of accelerated digital adoption in life insurance and annuities, 2026 is shaping up to be the year that acceleration turns into alignment and permanent transformation.
Pat O’Donnell
Last year, carriers, distributors and advisors moved beyond experimentation. Digital tools became embedded across underwriting, distribution and service. Buyers became more informed, more self-directed and more demanding, with expectations of seamless, transparent experiences comparable to what they receive in other financial services sectors.
But the urgency behind these shifts runs deeper than technology alone. The retirement preparedness gap in the U.S. remains profound, and it’s reshaping what consumers need from insurers and financial professionals. A recent National Institute on Retirement Security analysis of census data found that the median retirement savings for working-age Americans is just $955 when including those with no savings. Yet even among workers with defined contribution plan savings, the median balance is only $40,000. Those figures underscore why lifetime income, protection solutions and modern planning tools are becoming more central to the financial conversation.
Meeting this need at scale will require more than incremental upgrades. It will require modern, data-connected platforms that use artificial intelligence to simplify the buying journey, personalize guidance and product fit, and help advisors engage customers with greater speed, clarity and confidence. In 2026, the focus is set to move beyond digitizing individual steps and toward reinventing the end-to-end operating model. The forces shaping the next chapter of life insurance and annuities will test how quickly carriers, distributors and advisors can modernize workflow, data and customer experiences.
End-to-end AI requires a strong, modern data foundation
AI is rapidly expanding from isolated efficiencies into an across-the-board accelerator, touching everything from application intake and underwriting triage to product engineering and recommendations. However, the real change for the industry doesn’t come from hype or buzzwords, but from improved speed and momentum. Tasks that once took weeks or even months can now be compressed into days, reshaping both customer expectations and operational reality.
But here’s the catch – AI can only scale as far as your data foundation allows.
In 2026, many carriers and distributors still risk hitting the same barrier: If data isn’t connected, standardized, permissioned and governed, it can’t reliably power AI-driven workflows, especially when a customer journey spans multiple steps and partners. The winning firms will make unification and governance the foundation for meaningful automation and intelligence, instead of tacking AI onto legacy systems and infrastructure.
Hyper-personalized product and journey designs
With a stronger data foundation, AI can do more than speed up the process. It can make the experience feel more individualized to each specific customer and their long-term financial planning needs. Carriers are increasingly personalizing premiums, coverage levels, and underwriting pathways based on geographic, demographic, and behavioral signals.
In the near term, the biggest gains will come from personalization that improves relevance and confidence by helping the right customer see the right option at the right time. This reduces dead ends and guides decisions through simpler, clearer digital journeys. That kind of personalization can make life insurance feel more accessible without rebuilding every product from scratch.
Over time, the industry may push toward modular, configurable approaches, but regulation will influence how quickly the most dynamic product-level personalization becomes reality. The priority for the coming year should be to build out capabilities, so that organizations are ready to move faster and deploy personalized strategies more aggressively as frameworks evolve.
Distribution is becoming smarter and data-driven
As AI leads to increased workflow speed, and personalization promises improved relevance and clarity, distribution becomes the next place the industry can turn intelligence into measurable growth.
Distribution is moving from broad outreach to precision engagement, with AI accelerating that shift. Instead of casting a wide net, advisors can use data-driven insights to focus on where demand is strongest, which households are most likely to convert, and what next-best actions will improve both placement and persistency.
At the same time, speed is becoming a real competitive differentiator. As distribution consolidates and new selling models emerge, carriers face growing pressure to support quoting, underwriting and issuance quickly enough to keep customers engaged in the moment. For advisors, the push for faster, data-led distribution strengthens their role rather than diminishing it. Technology should help advisors translate complexity and more confidently guide decisions – reducing the time they have to spend chasing status updates or explaining delays.
Shifting wealth and retirement demographics are reshaping annuity demand and advisor toolkits
AI, personalization and data-driven distribution are changing how the industry operates, compressing timelines and making experiences more targeted. But even perfect technology doesn’t create demand on its own. One of the biggest forces in 2026 is centered on who’s entering retirement, how wealth is changing hands and what’s still missing from Americans’ retirement planning puzzles, placing lifetime income at the forefront of financial conversations.
The Great Wealth Transfer from baby boomers to millennials and Generation Z is reshaping who is making retirement decisions and what they expect from the process. At the same time, Peak 65 demographics are expanding the pool of households actively planning for retirement income, helping sustain record demand for annuities. LIMRA projects U.S. retail annuity sales will finish above $460 billion in 2025, marking the fourth consecutive year of record sales, and forecasts that 2026 sales will remain above $450 billion; a clear sign this momentum is here to stay.
What’s driving that momentum is not just rates or product cycles, but a changing buyer – one who expects clarity and control. As younger generations inherit and assume greater financial decision-making power, they bring digital expectations to the process, but they’re not necessarily risk-seeking. Amid ongoing economic uncertainty, many are looking for stability. This keeps guaranteed income and protection features compelling, but only if the experience is clear, modern, and easy to navigate.
That puts real pressure on the advisory workflow. As a result, removing the friction that slows advisors down is the biggest opportunity in the year ahead. If annuities are to meet this moment, streamlined product selection, accurate suitability documentation and real-time case status will be paramount so fewer applications are bogged down in not-in-good-order follow-ups.
When that friction goes away, advisors spend less time chasing paperwork and more time delivering planning value.
Digital-first, ecommerce-inspired journeys are the baseline
All these forces converge at the most impactful point where customers, carriers and advisors actually feel them – the end-to-end journey from discovery and application through underwriting, servicing and ongoing planning.
In 2026, customer expectations are increasingly shaped by digital commerce, not financial services. If consumers can complete complex, high-stakes transactions online, including everything from cars to mortgages to investments, why should life insurance and annuities be any different? More importantly, the rising expectation isn’t about just a few digital touchpoints at the start, but about increased and reliable continuity throughout the entire buying journey.
Customers want their experience to feel clear and predictable, with simpler language, fewer surprises and visible progress from start to finish. Advisors need real-time case visibility and clean, guided next steps so they can stay in control of the client conversation, instead of chasing updates across multiple systems. That includes fewer NIGO setbacks, less back-and-forth after submission, and the ability to answer the basic questions of where things stand and what happens next without guesswork.
Carriers that deliver seamless end-to-end journeys will continue to lead by keeping the process connected through underwriting and servicing, with modern e-applications, real-time insights and consistent case tracking. The practical wins are straightforward: clearer requirements up front, earlier detection of issues before they become NIGO, and status transparency that keeps momentum intact. Legacy or disconnected systems won’t just slow teams down internally; they will show up as friction that drives drop-off, delays decisions and erodes trust at key moments in the buying journey.
The 2026 story evolves from acceleration to alignment
Taken together, the themes shaping 2026 are not separate trends but one connected story: AI, supported by stronger data foundations, is improving speed, personalization is raising expectations for relevance, distribution is becoming more precise and time-sensitive, and demographic demand is keeping lifetime income at the center of planning conversations. All this is done through a digital-first, ecommerce-centered lens that consumers increasingly expect.
As that intelligence scales, the non-negotiable requirement is confidence in the decisions being made and the outcomes being delivered. The organizations that will lead won’t be the ones that adopt the newest tools fastest, but the ones that connect data, workflow and experience into a coherent end-to-end operating model and can consistently explain a recommendation, requirement, or the needed next step.
Instead of treating modernization as disconnected initiatives – an AI workstream here, a digital project there – alignment through governed foundations, configurable platforms and digital-first journeys will be what delivers the greatest advantage.
The common thread of 2025 was acceleration; 2026 will define who can translate that acceleration into a durable advantage.
