Life Insurance News
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...
The post Life Insurance Among $800,000 A Louisiana Man Stole From Alzheimer’s Patient appeared first on InsuranceNewsNet.
COLUMBIA, S.C. — Workers have new options to customize their financial protection benefits, thanks to an enhanced term life insurance...
The post Colonial Life’s New Coverage Helps Workers Customize Benefits appeared first on InsuranceNewsNet.
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.
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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.
Kemper Corporation announced that Cheryl Kingsfield Neal has joined the company as President of Kemper Life, effective today. Prior to that, she held multiple roles at Liberty Mutual Insurance including Executive Vice President and General Manager of Liberty Mutual Benefits, and President of Liberty Life Assurance Company of Boston.
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From the day Coral Gables nurse Debra Clark was discovered strangled, beaten and shot inside her townhome, police had focused on one chief suspect: Allen Bregman, her older, married lover. Bregman, who was convicted Friday, immediately filed a life insurance claim on Clark.
The post Life Insurance At Center Of 1977 Murder Of Miami Nurse appeared first on InsuranceNewsNet.
U.S. life insurance application activity slowed down in March, largely because young people did not buy. Overall activity fell 4.9% year over year, according to the MIB Life Index. Part of the decline is attributable to March 2018 being such a good month, MIB explained.
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Entrepreneur Greg Lindberg was indicted last week in what federal prosecutors said was a plot to bribe state insurance commissioner Mike Causey. Days later, Lindberg-owned Global Bankers Insurance Group said it is pursuing buyers for its U.S. life insurance companies.
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Lawyers for a Montreal man convicted of stabbing a police officer at an airport in Flint, Michigan, have asked the judge to sentence him to 25 years in prison. Amor Ftouhi was convicted in November on several charges in the June 2017 attack. He could face life in prison, but in a Thursday court filing, his attorneys asked that he be sentenced to 25 years and that he should spend that time in solitary confinement.
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(FALLS CHURCH, Va., April 11, 2019) – The National Association of Insurance and Financial Advisors (NAIFA) and the National Association...
MINNEAPOLIS – After enduring ongoing stock market volatility throughout all of 2018, Americans remain resilient in the face of persistent...
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AM Best has placed under review with negative implications the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of“ bbb+” of Colorado Bankers Life Insurance Company. Concurrently, AM Best has placed under review with negative implications the FSR of B and the Long-Term ICR of“ bb+” of Bankers Life Insurance Company. CBL and BLIC are...
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MILWAUKEE, PRNewswire/ -- For most families, caring for mom or dad as they age is not a family effort. According...
The National Insurance Producer Registry (NIPR) has launched new features to its popular mobile app.
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BRYN MAWR, Pa., April 9, 2019 -- The American College of Financial Services today announced that Wade D. Pfau, PhD,...
April 08-- Apr. 8-- As part of a plan to consolidate its employees into two locations in Massachusetts, this summer Massachusetts Mutual Life Insurance Company is closing its Ballantyne office and laying off about 160 people. The insurer is similarly closing offices in Connecticut, New Jersey, Tennessee and Pennsylvania, and moving positions in those offices to...
April 07-- Apr. 7-- HIGH POINT-- You've probably heard stories about "the one that got away." In this case, though, "the one that got away" takes on a whole new meaning-- it refers to a High Point man who, more than 60 years ago, very nearly found himself on the victim list of a black-widow serial killer. According to newspaper accounts, only the first of her five husbands, an Alabama...
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Nationwide Mutual Insurance issued the following news release:. Nationwide reported $47 billion in total sales, up nearly $500 million from 2017, in its 2018 annual report, released today. The company posted $26.9 billion in operating revenue and $1.3 billion in net operating income- more than doubling its NOI from 2017.
(FALLS CHURCH, Va.) – The National Association of Insurance and Financial Advisors has launched the NAIFA Limited & Extended Care...
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Al Bundy would not be a good life insurance prospect, but Jay Pritchett would be a warm one. The two iconic television characters played by actor Ed O'Neill represent the hot and cold of prospecting, said Vikram Kamath, director of the LIMRA Center of Excellence for Analytics.
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The American Council of Life Insurers issued the following news release:. American Council of Life Insurers President and CEO Susan Neely announced today ACLI's support for the Retirement Enhancement and Savings Act that was introduced by Senate Finance Committee Chairman Chuck Grassley and Ranking Member Ron Wyden. Many of RESA's key retirement...
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Almost half of Americans (47 percent) say they are more likely to buy life insurance using simplified underwriting, which generally means getting coverage more quickly and without a medical exam, versus traditional underwriting approaches, according to new findings from the 2019 Insurance Barometer Study.
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The study objectives are to present the Term Life Insurance development in United States, Europe and China. The key players covered in this study Allianz AXA Generali Ping An Insurance China Life Insurance Prudential PLC Munich Re Zurich Insurance Nippon Life Insurance Japan Post Holdings Berkshire Hathaway Metlife Manulife Financial CPIC Chubb AIG...
The post Term Life Insurance Market Predicted To Grow At A CAGR Of 3% By 2025 appeared first on InsuranceNewsNet.
March 26-- Mar. 26-- Sears has ended life insurance benefits for eligible retirees, one of the final links to the days when the company promised generous benefits to take care of its workers. It's unclear how many Sears' retirees will lose coverage, but the company paid about $16.6 million in premiums for eligible retirees for the year that ended Dec. 31, 2017,...
Six insurance industry professional associations and four life insurance carriers have joined forces to address issues that affect the industry. The leadership teams of the associations have been meeting regularly since 2016 to discuss “what we might be able to do in the spirit of better communication, collaboration and ultimately perhaps even consolidation,” said Warren May of Principal Financial.
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