Life Insurance News
Life insurance or annuity policies sold with a long-term care rider jumped from 228,000 in 2015 to 461,000 in 2018, LIMRA has found. Today, more than 40 carriers are selling these products with a long-term care element. State insurance regulators are hoping the hybrid products stabilize the LTC market while providing consumers with protection.
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Kevin Miles, the 41- year-old insurance agent who allegedly scammed more than 30 people, is in custody, according to Catoosa County Sheriff's Office. Miles worked in the Tennessee Valley area as an independent insurance agent for Atlantic Coast Insurance Co. From June 2017 to July this year.
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CINCINNATI, Aug. 13, 2019-- Ohio National Financial Services is pleased to announce the promotion of Christopher J. Calabro, CLU, ChFC ®, to senior vice president and chief marketing officer, effective immediately. He was formerly with MassMutual and earned his undergraduate degree from the University of Connecticut. Active in the community, Calabro is a board...
Pamela Hupp, 60, of the St. Louis suburb of O'Fallon, entered an Alford plea in June on a first-degree murder charge in the 2016 death of 33- year-old Louis Gumpenberger. In reality, St. Charles Prosecuting Attorney Tim Lohmar said, Hupp killed Gumpenberger to distract from the re-investigation of her friend Betsy Faria's 2011 death. Faria was stabbed to death in...
The post 150K Life Insurance Policy At Center Of Mentally Disabled Man’s Death appeared first on InsuranceNewsNet.
The life insurance industry continues to struggle to increase policy counts, however, improving retention and deepening customer relationships can help reverse this trend along with new sales growth, according to a new study by Conning.
The post Conning: Life-Annuity Insurers Face Distribution Challenge appeared first on InsuranceNewsNet.
--Health Insurance Innovations, Inc., a leading cloud-based technology platform and distributor of affordable health insurance, life insurance and supplemental plans, today announced the launch of www.agilelifeinsurance.com, a new on-line marketplace where consumers can easily compare and purchase an array of affordable life insurance products..
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_ CNA Financial Corp. on Monday reported second-quarter earnings of $278 million. On a per-share basis, the Chicago- based company said it had profit of $1.02. CNA Financial shares have risen nearly 7% since the beginning of the year.
A National Association of Insurance Commissioners' working group has accelerated efforts to complete its long-delayed “policy overview” summary to accompany life insurance sales. The policy overview will accompany the Life Insurance Buyer's Guide and regulators are considering moving up delivery of both.
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The information in this document is based on the unaudited interim financial results of Sun Life Financial Inc. for the period ended June 30, 2019. SLF Inc., its subsidiaries and, where applicable, its joint ventures and associates are collectively referred to as "the Company", "Sun Life", "we", "our", and "us". TORONTO, July 31, 2019/ PRNewswire/- Sun Life Financial Inc. today...
Jul. 30-- Unum Group reported a 4.6% gain in its after-tax adjusted operating earnings during the second quarter as premium income grew another 6.8% in Unum's core business, helping the company to beat analysts' forecasts for the period by a penny per share. The Chattanooga- based insurer said today its net income in the three months ended June 30 totaled $281.2...
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FALLS CHURCH – The National Association of Insurance and Financial Advisors (NAIFA) announced Guy E. Baker, Ph.D., MSFS, MBA, CLU,...
The post Guy Baker To Receive The 2019 John Newton Russell Memorial Award appeared first on InsuranceNewsNet.
A Minnesota man was sentenced Monday to more than three years in federal prison for faking his death to collect a $2 million life insurance payment. The case stemmed from a life insurance policy Igor Vorotinov, 55, took out on himself and designated his wife, Irina, as the primary beneficiary.
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U.S. captive insurance companies rated by AM Best continued their run of strong financial results in 2018, as well as their outperformance of the segment’ s counterparts in the commercial casualty sector, according to an AM Best special report. The new Best’ s Special Report, titled,“ Rated Captives Continue to Build Upon Strengths,” states that the rated captive...
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Sherra Wright also pleaded guilty to facilitation of a criminal attempt to commit first-degree murder in a hearing in Shelby County Criminal Court. Coffee said Sherra Wright would be eligible for parole once she served 30% of her sentence, which would be around nine years. Sherra Wright had been scheduled to face a jury in a September trial on first-degree...
The post Ex-Wife Of Slain Former NBA Star Received $1M Life Insurance Payout appeared first on InsuranceNewsNet.
--Globe Life And Accident Insurance Company, the country's top volume issuer of life insurance policies, is excited to announce a new, multi-year relationship with the Dallas Cowboys. Globe Life is proud to be the Official Life Insurance of the Dallas Cowboys. "We are proud to designate Globe Life as the Official Life Insurance of the Dallas Cowboys," said Dallas...
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Charles Thomas Blosch died last year in Virginia Beach, 94 days after falling and hitting his head. A federal judge ruled last week for the Transamerica Premier Life Insurance Company, saying Blosch's policy was clear: The death "must occur within 90 days of the accident." District Judge Rebecca Beach Smith wrote.
The post Virginia Man Dies 94 Days After Fall; Widow Can’t Collect $100K Insurance appeared first on InsuranceNewsNet.
--The Board of Directors of Kansas City Life Insurance Company declared a quarterly dividend of $0.27 per share on July 22, 2019. Kansas City Life Insurance Company was established in 1895 and is based in Kansas City, Missouri. SOURCE Kansas City Life Insurance Company.
Total new premium for individual life combination products dropped 2% to $4.3 billion in 2018, according to LIMRA. Life combination products provide life insurance coverage with long-term care or chronic illness coverage, an attractive value proposition to consumers. In 2018, combination products represented 27% of the overall U.S. individual life insurance market.
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He joins Burns' 50- year-old husband, Jerry "Tommy" Allen Burns, and his 30- year-old mistress, Amanda Lee Love, already jailed on murder charges in the case, the Sheriff's Office said. The May 9 homicide was staged to look like a burglary, the Sheriff's Office previously said. The amount would be contributed from the victim's life insurance policy, the Sheriff's...
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Paul Flanagan, 54, Ranjit Kalsi, 52, and Gregory Lee Martin II, 49, were arraigned this week for operating a life insurance scheme to defraud United States Military personnel out of $4.8 million.
The post San Diego Scammers Target Military In $4.8M Life Insurance Scheme: Indictment appeared first on InsuranceNewsNet.
Allianz Life, a provider of retirement solutions, including fixed and variable annuities and life insurance for individuals, issued the following news release:. According to the 2019 Life Insurance Needs Study from Allianz Life Insurance Company of North America, women lack familiarity with a number of important benefits offered by permanent life...
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New IUL products featuring "multipliers" or "bonuses" prompted the IUL Illustration Subgroup to consider changes to Actuarial Guideline 49. During a Monday conference call, one regulator called for "a total rework of AG 49 from the ground up."
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While accelerated underwriting has absolutely transformed the landscape of life insurance, it is not a one-size-fits-all solution and is not a guarantee for all applicants – even if they are healthy.
The post Promoting The Benefits Of Accelerated Underwriting Without Overselling appeared first on InsuranceNewsNet.
ESPN today announced New York Life as a founding partner of the new ACC Network, the national network dedicated to Atlantic Coast Conference sports coverage, launching on August 22. New York Life also continues as the exclusive presenting sponsor of the ACC Men's Basketball Tournament which airs across the ESPN and ACC networks as well. "We are proud to continue...
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Jul. 13-- A Lilly man sentenced to federal prison last month has been ordered to repay more than $640,000 to 12 individuals and the IRS as part of a scheme he conducted under the guise of a financial adviser. That joint stipulation, which was filed Wednesday, directs Simanski to repay 100% of $640,662.34 to 12 individuals and the IRS. Some individuals on the list were...
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The NAIC is creating tools and graphics that each state can incorporate into their insurance department websites, working group members said this week. Work will begin immediately with a "toolkit" of info in time for Life Insurance Awareness Month in September.
The post NAIC Steps Up Online Life Insurance Awareness Campaign appeared first on InsuranceNewsNet.
Jul. 9-- A former elementary school principal charged in the death of her husband will face a Kern County jury in October. Leslie Chance, 52, appeared in court July 9 for a hearing to determine a new trial date and to establish legal counsel. Tony Lidgett was appointed to be Chance's new attorney after Paul Cadman, Chance's former attorney, declared he had a conflict of...
The post Trial Set For California School Principal Accused Of Killing Hubby For Life Insurance appeared first on InsuranceNewsNet.
U.S. life insurance application activity rose 3.3% in June year over year, nudging the MIB Life Index above par on a year-to-date basis for the first time since last February. June's performance was the strongest monthly percent gain of 2019.
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Jennifer Lynn Via, 49, pleaded guilty before Cabell Circuit Judge Gregory Howard on Monday to voluntary manslaughter in the death of her husband, Thomas Via. He was stabbed in the back with a 14- inch-long decorative dagger Nov. 4, 2017, at their home in the 900 block of 28th Street in Huntington. Former Huntington police detective Chris Sperry previously said Via...
The post Life Insurance At Center Of West Virginia Stabbing Death appeared first on InsuranceNewsNet.
Roslyn Pilmar, 61, and her brother Evan Wald, 45, were convicted in Manhattan Supreme Court in March after a nine-week trial for orchestrating and carrying out the fatal stabbing of Howard Pilmar in his midtown office on March 21, 1996. There, 40- year-old Howard Pilmar, who owned an office supply store and several coffee shops, was ambushed in the hallway and...
The post NYC Siblings Get Life Sentences In Brutal 1996 Murder-For-Life-Insurance appeared first on InsuranceNewsNet.
--A practical new calculator is helping independent agents show their annuity and life insurance clients the tax benefits of two products over one. The Prosperity Select Combo Calculator, created by Oxford Life Insurance Company ®, offers an instant comparison of the after-tax value of an annuity purchase versus the after-tax value of an annuity-life...
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--Nationwide now has a new digital customer interview that is a key component of a multi-year investment designed to transform, enhance and simplify its life insurance business capabilities. "Many people feel that purchasing life insurance is an intrusive and time-consuming process," said Kirt Walker, president and chief operating officer for Nationwide...
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Prudential Financial, Inc. will release its second quarter 2019 earnings on Wednesday, July 31, 2019, after the market closes. Members of Prudential's senior management will host a conference call on Thursday, August 1, 2019, at 11:00 a.m. ET, to discuss with the investment community the company's second quarter results. Prudential Financial, Inc., a financial...
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As Canadians countdown to the start of cannabis edibles sales in December, some sobering information is filtering in to the effect that life insurance premiums could go up depending on one’s cannabis edibles consumption habits. When recreational marijuana was legalized in October 2018, most insurance companies stopped regarding marijuana users as smokers. People who are …
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“Integrating Whole Life Insurance into a Retirement Income Plan: Emphasis on Cash Value as a Volatility Buffer Asset,” by Wade D. Pfau, Ph.D., CFA, and Michael Finke, Ph.D., CFP, considers several asset scenarios of people preparing for retirement. “This report shows that using insurance with other investments can really lay the foundation for better outcomes in...
The International Accounting Standards Board has some amendments to the standard after hearing complaints from insurers.
The post IASB Proposes To Delay Insurance Standard For One Year appeared first on InsuranceNewsNet.
Although many precursors to the 2008-2009 financial crisis are repeating today, AM Best believes the life/annuity industry is much more resilient than a decade ago and well-positioned to navigate future challenges. Macroeconomic conditions in the United States soon became more unfavorable as the effects of the subprime crisis started to emerge.
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Sears ended the retirees' life insurance benefits in March, shortly after selling most of its remaining assets to Transform Holdco, an entity controlled by Sears former CEO and largest shareholder, Edward Lampert, and his hedge fund. As of March 15, about 29,000 retirees had coverage with death benefits worth between $5,000 and $14,500 that cost Sears $1.3...
The post Judge Gives 29K Retired Sears Employees A Chance To Regain Their Life Insurance appeared first on InsuranceNewsNet.
Over six months in 2017, Bartoli made 57,134,629 illegal robocalls, the FTC says. Even after Bartoli was contacted by the FTC, he continued to run his robocall operation, according to the suit. The investigation involving Bartoli is part of a joint-agency robocall sweep led by the FTC called "Operation Call it Quits," in which telemarketers responsible for more...
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--Two ratings agencies, S&P and Fitch recently upgraded the credit ratings of CNO Financial Group. With these two upgrades, CNO Financial is now rated investment grade by all four leading ratings agencies– A.M. Best, Moody's, Fitch and S&P. CNO Financial Group is the holding company for several national life and health insurers including Bankers Life and Casualty...
Jun. 24-- Symetra Life Insurance has been named the first founding partner and sponsor of Seattle's incoming National Hockey League franchise and will be featured prominently at the team's arena and training facility. NHL Seattle and the Oak View Group announced Monday the Bellevue- based company, founded in 1957, will also be the title sponsor of one of the...
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--Midland National ® Life Insurance Company, a member of Sammons ® Financial Group, Inc. and one of America’ s leading insurance companies, today announced new lower premiums for its Premier Term life insurance product. In addition to competitive rates, Premier Term also features an accelerated death benefit for critical, chronic, and terminal illnesses at no...
The post Midland National Launches New Premier Term Life Product appeared first on InsuranceNewsNet.
DENVER-- Daniel B. Rudden, age 72 of Denver, Colorado, was sentenced yesterday by U.S. District Court Judge Christine M. Arguello to serve 121 months in federal prison, followed by 3 years on supervised release for mail fraud after he defrauded 175 investors out of more than $19 Million, announced U.S. Attorney Jason Dunn and FBI Denver Field Office Special Agent in...
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Jun. 19-- Kansas City Life Insurance Company "systematically overcharged" customers for insurance and expenses, depleting cash values for possibly hundreds of policy owners, two law firms claimed in a federal lawsuit filed Tuesday. Stueve Siegel Hanson LLP and Miller Schirger, LLC, claimed Kansas City Life made unauthorized charges that drained policy owners'...
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In opening arguments of Chacey Poynter's capital murder trial Tuesday, prosecutors told jurors that the Texas woman only married Robert Poynter for his money, then carried on multiple affairs behind his back. Chacey Poynter was the beneficiary of a $680,000 life insurance policy, prosecutors say.
The post Life Insurance At Center Of ‘Sex, Lies, Money, Murder’ Trial In Texas appeared first on InsuranceNewsNet.
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.
The post Retirement Challenge: Leveraging Life Insurance As An Asset appeared first on InsuranceNewsNet.
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.
The post Is Your Agent A ‘Producer Prime’ Or An ‘Amazon Go’ Agent? appeared first on InsuranceNewsNet.
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.
The post Life Insurance An Important Part Of Protecting Your Client’s Income appeared first on InsuranceNewsNet.
--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...
The post Ohio National Introduces New Death Benefit Options 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