Life Insurance News
By wisely leveraging one of the oldest financial products in existence — the trusty life insurance policy — retirees may be able to generate cash flow to help improve their retirement security.
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Why carriers need to see the agent as a customer and provide them tools, resources and methods to represent their products in the way the agent’s consumer wants to buy those products.
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Most people agree that life insurance is preparation for the unthinkable. It certainly is, but it can be more than that— in fact, you can use life insurance as part of your retirement income plan. Some policies, known as permanent insurance policies, have an investment component that can build cash value.
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--Clients looking for secure lifetime protection and excellent value for death benefit protection have two new options with Ohio National’ s enhanced lifetime pay whole life products.. “Prestige Value IV and Prestige 100 II provide an excellent foundation of long-term protection,” said Christopher Calabro, CLU, ChFC, Ohio National senior vice president career...
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Life insurance could help alleviate financial disaster for many families who are caring for parents and loved ones.
Testimony in the murder trial of Waynesfield resident Brent Williams ran the gamut Wednesday, ranging from a Tiffin man who had a one-night stand with the alleged victim just days before her death to a Cridersville woman who testified the defendant sent her photos of his penis a mere three weeks after his estranged wife's was found...
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He will assume the top leadership role at the Columbus, Ohio- based insurance and financial services provider on Oct. 1, 2019, succeeding CEO Steve Rasmussen, who earlier this spring announced his decision to retire in the fall. He served 23 years in the property and casualty business, including roles as President and Chief Operating Officer of Nationwide...
Birmingham, Ala. (June 3, 2019): Protective Life Corporation (Protective), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750),...
--Colonial Penn Life Insurance Company, a national provider of easy-to-understand life insurance products to the middle-American market via direct-to-consumer strategies, announced today their new insurance product with an early payout option, Living Insurance. "Servicing the needs of our customers and offering them peace of mind is our top priority," said...
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June 03-- The May 9 homicide was staged "to look like a burglary" at Velvet Floyd Burns' home on Jacksonville's Westside, according to police. Jerry "Tommy" Allen Burns, 50, told officers he had left the home about 3:30 a.m. for a job in Tallahassee, then a family friend found his wife's body that afternoon, according to his arrest report. "Jerry Burns offered $5,000 to Love...
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KING OF PRUSSIA, Pa., June 3, 2019 /PRNewswire/ -- The American College of Financial Services today announced that Michael Finke, PhD,...
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As wedding season ramps up, you can help couples send the ultimate love letter – financial protection in sickness and in health – to their future selves. Protection-first planning should be the foundation of any couple’s financial plans – it’s the key that unlocks the door to future financial stability.
The post The Latest Must-Have Wedding Registry Item? Life Insurance appeared first on InsuranceNewsNet.
--Arthur J. Gallagher& Co. today announced the acquisition of Liverpool, New South Wales- based The Protectors Insurance Brokers Pty Ltd and Regent Insurance Brokers Pty Ltd.; collectively referred to as The Protectors Group. David Michell, Vince Gioiello and their associates will continue to operate from their current location under the direction of Sean...
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The total number of individual life insurance policies sold in the first quarter 2019 decreased 3%, compared with the same quarter of the prior year. New annualized premium increased just 1% in first quarter. The data comes from LIMRA’s U.S. Individual Life Insurance Sales Survey.
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Pacific Life is partnering with Salesforce on a new initiative it calls the NextGen CRM Program, designed to bridge the gap between Pacific Life’s sales, service and marketing teams and reimagine how they engage with financial professionals, Pacific Life said in a news release.
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May 30-- May 30-- Grant Amato, accused of killing his parents and brother, lavished a Bulgarian webcam model he had met online with gifts and compliments, spending thousands of dollars to send her clothes and sex toys-- which she would model for Amato in provocative, and often sexually explicit, photos and videos. The records also reveal that Grant Amato tried to claim...
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Chance, 52, is accused of shooting her husband to death in August 2013, and leaving his body near a commercial orchard several miles northwest of Bakersfield. According to a source at Kern County Superior Court, Judge Charles R. Brehmer laid out a tentative schedule Tuesday for the trial, which is expected to last well into August. "You don't want to pick a jury until...
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--Over the 30 years he's worked with people who are trying to squeeze all of the juice out of their retirement savings, Scott Page says he's been surprised that most of them leave a key element out of the equation. His solution was to create a life expectancy calculator that makes it easy and fun to get an estimate of just how long you are going to need your retirement...
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A National Association of Insurance Commissioners' subgroup held an at-times contentious conference call Tuesday to discuss AG 49. Regulators and industry representatives sparred over whether insurers are trying to 'game the system' with IUL illustrations, or just being 'innovative.'
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Non-variable universal life sales for the first quarter were over $768.2 million, down 20.4% compared to the previous quarter and down nearly 13% from the first quarter 2018, according to Wink’s Sales & Market Report. New CSO requirements and less time devoted to sales are likely causes of the poor numbers, said Sheryl Moore of Wink.
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May 22-- May 22-- A Florida man has been sentenced to life behind bars for murdering his wife in 1993 and burying her in the backyard of their home-- where his son would return and uncover her remains more than two decades later. A jury in April found Michael Haim guilty of second-degree murder in the death of his 23- year-old wife Bonnie Haim. The 52- year-old killer...
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May 21-- May 21-- Spokane Valley funeral home director Trent Nielsen is trying to guide grieving families through the waiting game. But that process, which used to take a few weeks, is now taking, on average, closer to five or six months in Spokane County. "Usually life insurance is purchased with the idea those funds will help the family press forward with their...
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Employees are opening their wallets for voluntary benefits, with those sales increasing to $7.2 billion in 2018. According to LIMRA research, since 2010 the percent of employers offering voluntary benefits as part of their overall employee benefits package has increased 11 percent.
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WEST DES MOINES, Iowa, May 16, 2019 (GLOBE NEWSWIRE) -- North American Company for Life and Health Insurance® (North American) introduced...
The group agreed to require distribution of a policy overview in tandem with the buyer's guide on all life insurance policies. Policies without an illustration will also include a premium and benefit pattern summary. The policy overview is expected to be completed by the NAIC Summer Meeting in August.
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May 14-- May 14-- ROSEMONT, Ill.-- Michigan athletic director Warde Manuel said last year he wanted Jim Harbaugh to stay at U-M until he retired. Harbaugh is about to enter Year 5 of his seven-year deal that was crafted by then-interim athletic director Jim Hackett. Last year, Harbaugh earned $7.504 million in total pay, third-highest in the nation behind Alabama's...
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Members of the National Association of Insurance and Financial Advisors are urging Congress to enact a package that would help workers better prepare for retirement. NAIFA members are in Washington Tuesday and Wednesday for their annual political advocacy event.
Demand for permanent life insurance is on the rise in America’ s career military, where the majority of families either already own or are currently thinking about buying this type of coverage, according to the First Command Financial Behaviors Index ®. First Command's eighth annual life insurance survey reveals that 73 percent of middle-class military...
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--Today Cake& Arrow, a customer experience design and innovation agency that works across the insurance industry, announced the publication of a new report in partnership with Coverager exploring the modern landscape of insurance and offering a deep dive analysis of Millennials. Drawing upon Coverager's extensive proprietary industry research and a...
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With 30 years of financial services, insurance and IT expertise, Bruce has leadership and international experience at Generali, ING, Manulife Financial and Sun Life Financial that spans markets including North America, Europe and Asia. Foresters Financial includes The Independent Order of Foresters, the oldest non-denominational fraternal benefit...
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Voya Financial, Inc. today announced financial results for the first quarter of 2019.. “During the first quarter, we continued to execute on our plans to achieve organic growth and cost savings as well as effectively deploy excess capital,” said Rodney O. Martin, Jr., chairman and CEO, Voya Financial, Inc.“ Our normalized first-quarter 2019 adjusted operating...
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Actress and model Brooke Shields will serve as the national spokesperson for Life Insurance Awareness Month, the annual awareness campaign coordinated by Life Happens and supported by the nation's leading insurance companies and industry groups each September.
_ Brighthouse Financial Inc. on Monday reported a loss of $737 million in its first quarter. On a per-share basis, the Charlotte, North Carolina- based company said it had a loss of $6.31. Brighthouse Financial shares have climbed 40% since the beginning of the year.
Life insurers have been facing a challenging environment of low interest rates, higher reserve requirements, poorer claims experience, and sluggish organic premium growth. Insurers who think that lowering expenses is the answer are likely damaging their long-term prospects, according to a new study by Conning.
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May 04-- May 4-- A former Twin Cities man accused of faking his death in order to collect $2 million in life insurance pleaded guilty Friday in federal court in Minneapolis, according to the U.S. attorney's office. An auto mechanic and dealer by trade, Vorotinov then left Minnesota for Moldova, a former Soviet republic in Eastern Europe. The woman identified the body...
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Paul Juarez, 72, was convicted on one count of exploitation of a person with infirmities for assuming legal control of the finances of Marjorie Blake, of Terrytown, and spending more than $800,000 of her money on dubious expenses over a six-year period, Jefferson Parish District Attorney Paul Connick's Office said. Blake, a retired nurse and divorcée from...
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COLUMBIA, S.C. — Workers have new options to customize their financial protection benefits, thanks to an enhanced term life insurance...
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The award is believed to be the largest ever paid in upstate New York and also the largest imposed on AXA in arbitration. The elderly victims oversaw the successful Fitzpatrick Poultry Farm in Whitesville, NY, for many years before suffering millions of dollars in damages at the hands of AXA and its financial advisor, Francesco Puccio, formerly of Webster, NY.
The post FINRA Arbitration Panel Awards A Record $3M Egg-Farming Family In Annuity Case appeared first on InsuranceNewsNet.
George Nichols began his tenure as The American College’s president and CEO on Nov. 1 after a 17-year career with New York Life. He wants to see the school expand by breaking out of its insurance niche and focusing on financial services.
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The public defenders representing the former student charged with the Florida high school massacre are set to ask a judge to remove them from the case. The Broward County Public Defender's Office will ask Judge Elizabeth Scherer on Wednesday to order Nikolas Cruz to hire a private attorney with the $432,000 he may receive from his late mother's life insurance policy.
The post State: Force Florida School Shooter To Use Life Insurance Proceeds To Hire Attorney appeared first on InsuranceNewsNet.
May 01-- May 1-- Travis County prosecutors will not make plea offers to the three men charged in the slaying of Austin jeweler Ted Shaughnessy last year. After reviewing evidence against Shaughnessy's son, Nicolas, and two other men charged in the case, District Attorney Margaret Moore said her office will not negotiate with the lawyers representing the...
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April 26-- Apr. 26-- As Miguel Cabrera fights to reduce his child support payments to an ex-mistress, the woman's lawyer is seeking to hold him in contempt, claiming the Detroit Tigers MVP has disobeyed a court order involving their two children. --Pay her $89,581 in back child support in full by May 1, or over time. --Buy the children unblocked, annual passes to Walt Disney...
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April 26-- Apr. 26-- Personal turmoil aside, Miguel Cabrera's affair with a Florida woman will end up costing him at least $7 million in child support-- that is, if a judge's order sticks. Cabrera is contesting a Florida judge's $20,000- a-month child support order, calling it "grossly inflated" and a "windfall" for the mother, whom he has long portrayed as a "gold-digger"...
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Tigers slugger Miguel Cabrera, who for five years led a double-life with a mistress in Florida and fathered two children with her, has been ordered to provide those children with the same lifestyle and opportunities enjoyed by the children from his marriage. Cabrera, who makes $30 million a year and used to fly Rodriguez and their children around the country to...
The post Judge Orders Miguel Cabrera To Provide Life Insurance To Kids With Mistress appeared first on InsuranceNewsNet.
The best thing an insurance agent can do is generate their own leads, but knowing where to start and what you need to make it possible can be scary and confusing. But you can generate your own leads, and the specific set of tools that you need, once you have them, will cost you more time than it will money.
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Kevin Hogan, head of insurer AIG's Life & Retirement division, discusses living to 100 and planning for retirement
April 19-- Apr. 19-- Since his playing days ended 12 years ago, Colin Young had settled into a comfortable retirement. The former Pentucket High and Fordham University baseball star, who went on to enjoy a nine-year professional career in the minors, was now spending his days working as an insurance salesman in Texas. Young got a call from the Padres the next day while...
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Within the last decade, the industry has striven to make e-delivery the standard. Protective Life began offering it in 2008, with most other insurers quickly following suit. But customers and demanding more efficiency and services all the time. Here are a few tips to improve e-delivery.
Regulation 187 is set to go into effect on August 1, 2019, for annuity transactions and February 1, 2020, for life insurance transactions in the state of New York. After researching the regulation and having conversations with staff from the New York State Department of Financial Services and various carrier partners, Valmark concluded that it is ready to work...
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The appraisal of remaining term insurance as potential life settlement opportunities is an emerging trend. Concurrently, many of the agents who could have life settlement opportunities are unaware of life settlement due to a lack of education from their upline.
The post Don’t Send Remaining Term Life Insurance To The Scrapyard appeared first on InsuranceNewsNet.
Carrier & Product News
Make young clients term sale more profitable! If you have a client under 35, can they get longer than 30 years on a true term policy? YES!!! Prudential's Workforce 65 product goes to age 65, and can be issued to a client as young as 25 years old! So, YES, there is a...read more