Did you ever dream of hitting a huge lottery jackpot? The odds might be astronomical, but someone will win what is the second-largest prize in history. In the hectic days that follow, one must is to assemble an accountant/financial planning team, analysts say.

The post You Won The Mega Millions! Next Step: See A Financial Planner appeared first on InsuranceNewsNet.

Imagine you have just lost a loved one. As affairs are sorted out over the subsequent days, you unfortunately come to discover that the beneficiary listed on that loved one's life insurance policy is inaccurate, having not been updated in decades. This situation is actually much more common than you might imagine.

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National Association of Insurance Commissioners members are debating how to best create an online resource of life insurance information for consumers. The effort is meant to supplement the NAIC Life Insurance Buyer’s Guide. More consumers are getting information online, so that's where regulators want to be.

The post NAIC Sketches Out Online Resource Prototype appeared first on InsuranceNewsNet.

Recognizing the need for long-term local assistance for those who have experienced a natural disaster or act of mass violence, New York Life and the Alliance for Strong Families and Communities today announced the selection of 16 non-profit, community-based organizations to receive grants to continue their work in communities affected by disasters in...

The post New York Life/Alliance for Strong Families And Communities Award Grants To 16 Nonprofits appeared first on InsuranceNewsNet.

--Northwestern Mutual is committed to the fight against childhood cancer, and the company, through its Foundation, today announced the funding of four new grants to support additional research for better cures and treatments. Each Young Investigator grant recipient will receive $150,000 from Northwestern Mutual over three years. Northwestern Mutual is...

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The American Council of Life Insurers issued the following news release:. The American Council of Life Insurers, whose member companies provide financial and retirement security to 90 million American families, elected its chair, officers and ACLI Board of Directors at the 2018 ACLI Annual Conference today. Ameritas CEO JoAnn Martin will serve as chair for...

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Lansing, MI - Oct. 12, 2018 – Jackson National Life Insurance Company® today announced that Chief Executive Officer Barry Stowe...

The post Jackson National Names Successor To Retiring CEO appeared first on InsuranceNewsNet.

The accused defrauded older clients out of more than $2.5 million by "(holding) herself out as a financial adviser specializing in retirement planning," according to the criminal complaint filed in the U.S. District Court in the Illinois Northern District. Lucita Zamoras focused on the elderly, particularly immigrants.

The post Feds: Woman Used Annuities, Life Insurance In $2.5 million Scam appeared first on InsuranceNewsNet.

Longtime CEO Robert Kerzner is stepping down at the end of the year, and will be replaced by a former colleague at The Hartford. LIMRA/LOMA are the world’s largest association of life insurance and financial services companies.

The post LIMRA Names Edward Jones’ Executive New President/CEO appeared first on InsuranceNewsNet.

UT Life Insurance, a major player in the life insurance industry in Ghana, has rebranded to miLife Insurance with a promise to deploy technology to deepen life insurance penetration in the country. The corporate re-branding consist of a new corporate brand name, a new identity, a new slogan Live More and a renewed focus. Speaking at the rebranding programme in...

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A National Association of Insurance Commissioners working group wants to “enhance consumer understanding” with a proposed two-page summary to accompany life insurance illustrations. The group is making slow progress on the proposal, with a few issues remaining to work out.

The post NAIC Working Group Closing In On Disclosure Overview Language appeared first on InsuranceNewsNet.

This is the second rate reduction for term products by USAA in the last two years. In 2017, USAA implemented a change to the way it calculates statutory reserves, also known as principle based reserves, which resulted in an average rate reduction of 2.9 percent.

The post USAA Introduces Lower Rates For Life Insurance appeared first on InsuranceNewsNet.

Braintree, MA. (October 9, 2018) — U.S. life insurance application activity was off slightly in September, down -0.4% year-over-year, according...

The post Life Insurance Activity Down In September appeared first on InsuranceNewsNet.

Transamerica Life Insurance Company has agreed to settle a class action lawsuit brought on behalf of policyholders across the United States alleging that Transamerica improperly increased the monthly charges that the company withdrew from the accounts of policyholders who own certain "universal life" insurance policies. Under the proposed settlement,...

The post Transamerica Life Settles Lawsuit On ‘Cost Of Insurance’ Charges appeared first on InsuranceNewsNet.

A few creative new life insurance and annuity products hit the market recently, led by Allstate's Monthly Income Term.

The post New Product Roundup: Allstate Leads With Income appeared first on InsuranceNewsNet.

NEW YORK, October 2, 2018 – New York Life Ventures, the venture capital arm of New York Life, has identified...

The post New York Life Ventures Identifies Emerging ‘LifeTech’ Ecosystem appeared first on InsuranceNewsNet.

LAS VEGAS, Oct. 03, 2018 (GLOBE NEWSWIRE) -- Millennial families are not buying life insurance at nearly the pace of...

The post More Young Families Delay Buying Life Insurance appeared first on InsuranceNewsNet.

--Pegasystems Inc., the software company empowering customer engagement at the world's leading enterprises, today announced the results of a new survey that revealed how consumers perceive their insurance companies. While the majority are very satisfied with their insurers, this does not always equate to customer loyalty– 71 percent said simply receiving a...

The post Survey: Insurers Missing Chance To Improve Loyalty And Reduce Churn appeared first on InsuranceNewsNet.

The California Department of Insurance issued the following news release:. An investigation by the California Department of Insurance revealed that Peter Kim, a licensed insurance agent, allegedly sold two policies to his wife, Jin Kim, and falsely listed her as a niece and beneficiary of the insured. During the same time, Jin Kim purchased another life...

The post 2 Arrested In $1M Life Insurance Scam appeared first on InsuranceNewsNet.

By a News Reporter-Staff News Editor at Insurance Weekly News-- Prudential Financial, Inc. announced that its Board of Directors has appointed Charles Lowrey as the company's next CEO and member of the Board, effective December 1, 2018. Lowrey, who currently serves as executive vice president and chief operating officer, International Businesses of...

The post Prudential Names New CEO As Strangfeld Retires appeared first on InsuranceNewsNet.

John Hancock is transitioning all of the company's life insurance policies to policyholders who commit to making healthy choices. The interactive policies will track fitness and health data through a variety of smartphones and wearable devices such as the Fitbit.

The post John Hancock To Sell Only Interactive Life Insurance appeared first on InsuranceNewsNet.

Frederick, Maryland, Sept. 19, 2018 – Legal & General America (LGA), today announced the appointment of Mark Holweger as President...

The post Legal & General America Appoints Mark Holweger As President/CEO Of Its Insurance Division appeared first on InsuranceNewsNet.

HOUSTON – September 18, 2018 – American International Group, Inc. (NYSE: AIG) has announced newly reduced rates for Select-a-Term, the...

The post AIG Announces Reduced Rates For Select-A-Term Life Insurance appeared first on InsuranceNewsNet.

NEW YORK – Life insurance is Social Security’s mirror image in the private sector, an auxiliary safety net that has...

The post Life Insurance Supplements Social Security By $1T Over 7 Years appeared first on InsuranceNewsNet.

Braintree, MA — U.S. life insurance application activity held its own in the dog days of summer, flat at -0.1%...

The post Life Insurance Activity Static In August appeared first on InsuranceNewsNet.

Nestle today announced that it agreed to sell the Gerber Life Insurance Company, to Western& Southern Financial G roup for USD 1.55 billion in cash. The transaction does not include Nestle's Gerber Products business, a household brand in baby food and baby care, which Nestle will continue to develop. Nestle CEO Mark Schneider said: "We are delighted to have found an...

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A new Deloitte survey finds insurers well behind the ball when it comes to meeting consumers' needs digitally. Consumers are self-educating about life insurance online and carriers and agents need to respond better to that market if they want to increase life insurance ownership, the survey concludes.

The post Survey: Insurers Need To Get Digital With It appeared first on InsuranceNewsNet.

Arlington, Va. – Sept. 12, 2018 - The nonprofit Life Happens is pleased to announce the promotion of Faisa Stafford...

The post Faisa Stafford Named President Of Life Happens appeared first on InsuranceNewsNet.

The New York Department of Financial Services passed tough cybersecurity rules for financial services last year, and more states are working on their own versions.

The post Insurers Grappling With NY Cybersecurity Regs; More States To Follow appeared first on InsuranceNewsNet.

This year, the campaign’ s theme is“ A Journey to Financial Fitness,” and Danica Patrick, professional athlete and entrepreneur, is the spokesperson for Life Insurance Awareness Month. “Foresters is proud to support the annual LIAM campaign so that everyone can learn more about how life insurance can help protect them and their family,” said Knut Olson, President,...

The post Study: More Than 40 Percent Of Americans Have No Life Insurance appeared first on InsuranceNewsNet.

A new Pacific Life communication tool will alert advisors to customer account activity – new contract issuance, additional investments, distributions, etc. – within 15 minutes via text or email. The service will improve customer relations and put a dent in fraud, execs say.

The post Pacific Life Eyes Higher Productivity With Advisor Alerts appeared first on InsuranceNewsNet.

After three consecutive quarters of declines, individual life insurance sales growth rebounded in the second quarter of 2018.

The post 2Q Individual Life Insurance New Premium Grows At 2% appeared first on InsuranceNewsNet.

Indexed life sales shot up during the second quarter to a near-record $552.7 million. That figure represents a more than 13.6 percent over the prior quarter, and more than 13.9 percent compared to the same period last year. Only the fourth-quarter 2017 showed higher sales, according to Wink data.

The post 2Q Indexed Life Sales Rocket To Near Record Highs appeared first on InsuranceNewsNet.

--Ohio National Financial Services announced today that its Board of Directors has appointed Christopher A. Carlson President and Chief Operating Officer, effective immediately.. In 2010, he was appointed Executive Vice President and Chief Investment Officer and in January 2016 was promoted to Vice Chairman, Strategic Businesses. He has also held a role in...

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A National Association of Insurance Commissioners working group wants to “enhance consumer understanding” with a proposed two-page summary to accompany life insurance illustrations. The group is making slow progress on the proposal, with a few issues remaining to work out.

The post NAIC Pushing For 2-Page Life Insurance Illustration Summary appeared first on InsuranceNewsNet.

Boosting the numbers of advisors and improving the productivity of those already serving the group retirement market is a big priority for AXA Equitable, the company says.

The post AXA Equitable Stresses Growth Of Advisors appeared first on InsuranceNewsNet.

There are a huge number of “unscheduled” loans that go mostly unnoticed until they become a threat to the policy or an unwelcome tax problem for the insured. These present a clear opportunity not only to help clients, but also to create new commissionable sales.

The post ‘Unscheduled’ Policy Loans Can Create Sales Opportunities appeared first on InsuranceNewsNet.

United of Omaha, a Mutual of Omaha company, has introduced a new product to help meet customers' long-term care planning needs. Since 1987, traditional long-term care insurance has been- and continues to be- a core product for Mutual of Omaha.

The post Mutual Of Omaha Introduces Long-Term Care Rider appeared first on InsuranceNewsNet.

Jackson National Life Insurance Company ® generated a record $1.4 billion in IFRS pre-tax operating income during the first half of 2018, an increase of 0.8 percent over the first half of 2017. Jackson, an indirect wholly owned subsidiary of the United Kingdom’ s Prudential plc, recorded sales and deposits of $11.2 billion in the first half of the year, and...

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Braintree, MA. (August 8, 2018) — U.S. life insurance application activity grew slightly in June up 0.7% year-over-year, according to...

The post Life Index Inches Forward For A 2nd Month appeared first on InsuranceNewsNet.

Insurers report ups and downs in second-quarter earnings reports, with Brighthouse Financial reporting a loss. Meanwhile, long-term care policies continue to create plenty of headaches for insurers such as CNO Financial and Prudential.

The post 2Q Roundup: Brighthouse Posts Loss; Insurers Face LTC Pain appeared first on InsuranceNewsNet.

New York and California insurance officials signal a steadfast willingness to fight for life insurance to be included in any NAIC annuity best-interest rule.

The post Showdown Looms Over NY Push To Add Life Insurance To NAIC Rule appeared first on InsuranceNewsNet.

Universal life products are hot and insurers are wasting no time tweaking their product offerings to take advantage of a fast-selling segment. First-quarter sales of indexed universal life rose 12 percent to $486 million compared to the year-ago period.

The post Carriers Reshape Indexed UL While Variable UL Sales Heat Up appeared first on InsuranceNewsNet.

MetLife and Genworth had different challenges to overcome in the second quarter. Metlife dumped its remaining stake in Brighthouse Financial for a loss of $212 million, which pushed down earnings.

The post MetLife Sells Remaining Stake In Brighthouse appeared first on InsuranceNewsNet.

As Announced On June 9, 2018, The Committee On Foreign Investment In The United States Completed Its Review Of The Proposed Transaction Between Genworth And China Oceanwide Holdings Group Co., Ltd And Concluded That There Are No Unresolved National Security Concerns U.S. Mortgage Insurance Adjusted Operating Income Of $137 Million Which Included A...

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The life insurance industry has shown relatively steady sales over the past decade, but the number of policies and resulting market penetration are in decline, according to a new study by Conning.

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For a client in need of life insurance coverage, permanent life insurance can help address several crucial concerns by bridging the gap between their retirement savings and their retirement income goals.

The post Unlocking The Benefits Of Cash Value In IUL appeared first on InsuranceNewsNet.

A federal appeals court upheld a ruling that the illustrations of the policy charges and interest rates were not deceptive, but left open the question of whether the challenged practices were unlawful or unfair.

The post Although Largely Deflated, IUL Illustration Statute Lawsuit Rolls On appeared first on InsuranceNewsNet.

Several big-name insurers recently completed, or broke ground, on new construction projects for splashy new office spaces. While life insurance sales remain flat, the infrastructure investment reflects executive-level confidence that the economy is bright for insurance products overall.

The post Insurers Dive Into Grand Building Expansion Plans appeared first on InsuranceNewsNet.

Washington, D.C. – Citing both continued issues of inequality in the insurance industry and the potential to create unprecedented opportunities...

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