Life Insurance News
A significant split opened up this week on applying tightened indexed universal life insurance illustration rules to in-force policies....
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Nov. 15-- A Stone Mountain woman was convicted this week of plotting to kill her husband on several different occasions, officials said. DeKalb County District Attorney Sherry Boston's office said she recruited people-- including the victim's own son-- to kill her husband, Kentrick Lindo, 46.. The murder-for-hire plot stemmed from a 2011 incident during which Lindo...
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Nov. 15-- CRIPPLE CREEK-- Blood found in Kelsey Berreth's Woodland Park townhouse-- on a toilet, a baby gate and underneath the living room floorboards-- is almost certainly the missing woman's, a DNA expert testified in the trial of the Florissant rancher accused of killing her. The testimony Wednesday buttressed allegations that Berreth, 29, was bludgeoned to death...
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MUNICH and REDMOND, Wash., Nov. 14, 2019/ PRNewswire/-- On Thursday, Allianz SE and Microsoft Corp. announced a strategic partnership focused on digitally transforming the insurance industry, making the insurance process easier while creating a better experience for insurance companies and their customers. "Teaming up with Microsoft and leveraging Azure's...
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MILWAUKEE, Nov. 13, 2019 /PRNewswire/ -- A new release of findings from Northwestern Mutual's C.A.R.E. (Costs, Accountabilities, Realities, Expectations) Study...
BOSTON - Nov. 13, 2019 - One-third of 65-year-olds will likely live past 90, but many are underfunded for that...
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To meet agents' need for speed, Nationwide is introducing Nationwide Express, an innovative new technology platform that enables agents to quote policies for auto, homeowners and renters insurance in as little as two minutes; and tailor coverages, bind and process payment and trailing documents in a fraction of the time. Nationwide Express allows agents to...
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In a lawsuit against his 78- year-old father, two siblings and an adult son, Todd Dyer, the "Bring it on" felon who is doing 15 years for stealing $3 million, lays out a plan that would provide him with a six- or seven-figure nest egg when he is released. Todd Dyer claimed in the suit that he gave his father cash to be put in "various trusts set up for Plaintiff Dyer and...
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Every few years, tech investors and startups will label a new industry “hot,” and insurtech is steaming.
The post In Search Of A Unicorn: Tech Investors Turn To Life Insurance appeared first on InsuranceNewsNet.
Voya Financial, Inc. today announced financial results for the third quarter of 2019.. “During the third quarter, we made further progress on our growth plans and generated normalized third-quarter 2019 adjusted operating earnings of $1.36 per diluted share, "said Rodney O. Martin, Jr., chairman and CEO, Voya Financial, Inc.“ For the nine months ended Sept. 30, 2019, we...
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On average, smokers will pay nearly double the amount of life insurance premium as nonsmokers, a study revealed.
Divorce is emotionally draining, and on top of that, the challenges divorce brings to estate planning can be an added stress. In many cases, one often overlooked tactic can provide tangible solutions for divorcees and blended families: life insurance.
The post 5 Ways Life Insurance Eases Post-Divorce Estate Planning appeared first on InsuranceNewsNet.
Insurance commissioners tabled a proposal today to create a Life Insurance and Annuity Illustration Working Group to complete a comprehensive and coordinated review of annuity and life insurance illustrations. The proposed working group would coordinate illustration issues, particularly with indexed products, across annuity and life insurance.
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Massachusetts Mutual Life Insurance Company announced today that its Board of Directors has approved a $1.7 billion estimated dividend payout in 2020 to eligible participating policyowners and members. With the 2020 estimated payout, the company will have paid more than $15 billion of dividends over the past decade. “Being a mutual company enables us to...
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State insurance regulators are trying to rein in indexed universal life insurance illustrations via an amendment to Actuarial Guideline 49. The tentative change -- which still needs final approval -- would bar IUL illustrations with bonuses and/or multipliers from illustrating higher than IUL products without these features.
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American International Group, Inc. today reported net income attributable to AIG common shareholders of $648 million, or $0.72 per diluted common share, for the third quarter of 2019, compared to a net loss attributable to AIG common shareholders of $1.3 billion, or $1.41 per common share, in the prior-year quarter. Adjusted after-tax income attributable to...
H.H. Holmes was an American serial killer known for a slew of murders committed during the 1893 World’s Fair in Chicago. But it was Holmes' later attempt to defraud Fidelity Mutual Insurance Company that doomed him to a trip to the gallows.
The post Scary, But True: Serial Killer H.H. Holmes Foiled By Insurer appeared first on InsuranceNewsNet.
--Northwestern Mutual announced today that its policyowners will receive an estimated $6 billion through the company's 2020 dividend payout. "For more than 160 years, we've delivered long-term financial security for our policyowners– empowering them to live the life they choose," said John E. Schlifske, chairman, president and CEO of Northwestern Mutual.
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MetLife, Inc. today announced its results for the third quarter ended September 30, 2019. Net income of $2.2 billion, or $2.30 per share, compared to net income of $880 million, or $0.88 per share, in the third quarter of 2018. Adjusted earnings of $1.2 billion, or $1.27 per share, compared to adjusted earnings of $1.4 billion, or $1.38 per share in the third quarter of...
The U.S. Attorney for Central District of California, Nick Hanna, issued the following news release:. A Hawthorne man was found guilty by a jury today of 14 federal felonies for intentionally driving his family off a wharf and into the water at the Port of Los Angeles in a scheme to collect money on insurance policies he had taken out on their lives.
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Roy Browning Jr. was arrested for first-degree murder on Monday night in connection with the fatal stabbing of 65- year-old JoEllen Browning earlier this year in the quiet college town of Iowa City. Investigators found that JoEllen Browning had been asking her husband about discrepancies in their bank accounts in the days leading up to the April slaying.
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Jimmy Ray Rodgers, one of three men accused in the 2015 bludgeoning death of Bonita Springs doctor Teresa Sievers, seemed to swallow especially hard Wednesday as he heard he was found guilty of second-degree murder. Teresa Sievers, 46, was found dead, face down on the kitchen floor of her family's home at 27034 Jarvis Road on June 29, 2015. A separate trial for Mark...
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"Mr. Lindberg has asserted from the outset that the allegations about his insurance companies and him are false and is pleased that Mr. Freeh and his team to have agreed to take on this assignment," a spokesperson for Mr. Lindberg stated. Mr. Lindberg started a small health insurance compliance and reimbursement newsletter business with $5,000 in 1991 that became...
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Saying they needed a "clear and fresh mind" jurors deciding the fate of one of three men accused in the 2015 slaying of Bonita Springs doctor Teresa Sievers broke for the night. Also accused are the victim's husband Mark Sievers, 51, and Curtis Wayne Wright Jr., 51.. Assistant State Attorney Cynthia Ross began the state's closing arguments, painting a picture of a...
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Ramon Jones, a 19- year veteran of the company will succeed Terrance Williams, who announced that he is leaving the "Fortune 100" insurance and financial services provider in November. "Ramon is well-prepared to assume the role of chief marketing officer," said Nationwide Chief Executive Officer Kirt Walker. As Jones takes on the new role as Nationwide's...
It's been 13 years since Ben Nelson was reelected to the Senate, romping to a second-term victory over a Republican newcomer named Pete Ricketts in 2006.. The former Democratic senator- and former two-term governor- won that contest by 164,000 votes, and it marked the sixth Democratic victory in the past eight Senate elections in Nebraska at the time.
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--U.S. insurance companies are rapidly adopting new technologies such as artificial intelligence and drones to better serve their customers, and they are looking to business process outsourcing providers to help them roll out these advancements, according to a new report published today by Information Services Group, a leading global technology research...
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Foresters Financial today announces that it has entered into a definitive agreement with Nassau Financial Group, subsidiary Nassau Life Insurance Company, to acquire Foresters Financial Holding Company, Inc. and its subsidiary Foresters Life Insurance and Annuity Company.
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Oct. 16-- A murder-for-hire killing that left a father and son dead in Loris will be featured on an upcoming Investigation Discovery television show. The crime-focused channel will air a new episode at 9 p.m. Oct. 22 of "Relatively Evil," which recounts the killing of Amos Hatfield and his son, Tommy. Amos Hatfield's wife, Sandy Locklear, is featured on the show.
The post $1M Life Insurance Policy At Center Of SC Murder-For-Hire Killings appeared first on InsuranceNewsNet.
A Canton man has been indicted in a $40 million financial fraud scheme, U.S. Attorney Byung J. James Torchia, 61, of Canton is accused in the indictment of running a fraud scheme that caused investors to spend more than $40 million on his company's promissory notes. "The harm that can be caused by greed and the false promise of safe investments can be devastating," said...
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The Penn Mutual Life Insurance Company is pleased to announce Teresa M. Fitzgerald as the new managing partner of Lakeshore Wealth Strategies, its Chicago agency. Teresa Fitzgerald, new managing partner of Lakeshore Wealth Strategies, Penn Mutual's Chicago agency. Teresa’ s ability to network with those around her will serve well as she oversees the agency’ s...
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A judge recently ordered the Zurich American Life Insurance Company to place Sandra Kalosky’ s insurance benefit into an escrow account rather than pay it to her husband Robert Kalosky. Judge Victor Bolden said since the March 2018 homicide is unsolved the insurance company is in an untenable position.
The post Connecticut Man Denied His Murdered Wife’s Life Insurance Policy appeared first on InsuranceNewsNet.
The American Council of Life Insurers elected its chairman, officers and board of directors at the 2019 ACLI Annual Conference.
The post ACLI Elects New Board, Officers And Chairman During Boston Meeting appeared first on InsuranceNewsNet.
When it comes to feelings about finances, working Americans are practically split down the middle, according to a recent study. Fifty-five percent of employed Americans feel they are on the right track to achieving financial well-being, while the other 45 percent feel they are not headed in the right direction, according to the recent Lincoln Financial Group...
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Regulation 187 was finalized in 2018 and took effect Aug. 1 of this year for annuities. Life insurance sales will fall under the rule on Feb. 1, 2020. It establishes a best-interest standard, mandates enhanced disclosure and documentation, required of the producer and insurance carrier, as well as training programs.
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MINNEAPOLIS - Americans’ fear of a recession continues to rise, as half of Americans now say they are worried a...
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Many market participants in the fraternal segment of the U.S. life insurance industry are struggling to stay relevant, given their limited financial resources and difficulties in growing membership, according to a new AM Best report. Net premiums written for the 44 U.S. life fraternal companies covered in this report have hovered around $10 billion in each of...
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And as time runs out on aging Holocaust survivors, some are trying to recover insurance policies that were not honored by Nazi-era companies, which could be worth at least $25 billion altogether in today's dollars, according to the Holocaust Survivors' Foundation USA.
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--Foresters Financial™ today announces the launch of Advantage Plus II Participating Whole Life, replacing its flagship Advantage Plus Whole Life product, with lower premiums. Complimentary benefits and a shared purpose. Foresters Financial Vice President, Product& Pricing Jeremy W. Ragsdale said,“ We’ re excited to offer a whole life product that can be tailored...
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Likewise, based on the information I have seen, the allegations from an unnamed source of a "hole" in the balance sheets of Mr. Lindberg's insurers are false. The fact is the North Carolina Department of Insurance said recently that there are no defaults with loans to Mr. Lindberg's companies and said this week that Mr. Lindberg's insurers have substantial "...
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With the John Hancock Vitality Apple Watch program, life insurance policyholders can walk, run, bike or swim, share their activities and earn points that go toward monthly payments for their watch over a two-year period. The program first launched in 2015 amid some privacy concerns.
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The Accelerated Underwriting Working Group had its first conference call today and vowed to stick with a deliberative schedule that has the group deferring a work product until next summer. Annual surveys show insurers steadily adopting additional Big Data and accelerated underwriting efforts.
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--Traditional insurance carriers, beset by slow growth and high churn, are seeking new ways to attract and retain customers. Working with Dynata, an online global market research company, Bain& Company surveyed nearly170, 000 insurance customers in 16 countries and found that worldwide, 39 percent of insurance customers currently use at least one connected...
The post How Insurers Can Win By Connecting To Customers With Ecosystems appeared first on InsuranceNewsNet.
--Employee benefits solutions company, Clarity Benefit Solutions, explains why millennials are the most at-risk generation when it comes to life insurance. Young adults that range in age from 23 to 38, also known as millennials, face a unique set of financial challenges. First of all, many are burdened with overwhelming student loan debt.
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Many people just think of life insurance as something useful when there’ s a death. Colonial Life’ s new product debuts in 48 states and the District of Columbia– just in time for a busy enrollment season and Life Insurance Awareness Month.
The National Association of Insurance Commissioners issued the following news release:. -Understand the Difference Between Term and Cash Value. All life insurance policies have one thing in common- they're designed to pay money to "named beneficiaries" when you die.
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Falls Church, Va. – The National Association of Insurance and Financial Advisors announced the creation of the Talent Development Center...
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The Accelerated Underwriting Working Group is chaired by Robert H. Muriel, director of the Illinois Department of Insurance. It will consider the use of external data and data analytics in accelerated life underwriting and possibly draft guidance for states in 2020.
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The New York State Department of Financial Services issued the following news release:. Superintendent of Financial Services Linda A. Lacewell today announced that the Department of Financial Services has fined American Progressive Life and Health Insurance Company of New York $260,000 for rescinding certain life insurance policies without the...
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To help consumers meet the increasing need and cost of long-term care, Lincoln Financial Group today introduced MoneyGuard ® III, the newest generation of its hybrid life/long-term care funding solution. MoneyGuard III, issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, offers new coverage and benefit options and provides greater...
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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...