Life Insurance News
Fifty-eight percent of life insurers are either using or have an interest in using artificial intelligence in their businesses, an NAIC working group found.
The post 58% of life insurers use artificial intelligence or are interested: NAIC survey appeared first on Insurance News | InsuranceNewsNet.
NAIC is not a federal regulatory agency. If it were, it would be subject to the kind of oversight that is expected of such entities.
The post Commentary: The NAIC must get its house in order appeared first on Insurance News | InsuranceNewsNet.
KKR resolved lingering liabilities with Global Atlantic Financial Group minority shareholders by purchasing the remaining 37% of the insurer for $2.7 billion.
The post KKR buys out minority Global Atlantic shareholders in $2.7B deal appeared first on Insurance News | InsuranceNewsNet.
Although greenfield is smaller in scope than a traditional PAS modernization project and enables life insurance companies to start processing new business quickly, it's not the solution to all your digital transformation roadblocks.
The post The Greenfield approach to PAS modernization in life insurance won’t solve all your problems appeared first on Insurance News | InsuranceNewsNet.
Fitch expects the Fed’s monetary tightening to cease and potentially pivot towards monetary easing.
The post Higher interest rates drive ‘improving’ 2024 outlook for life insurers, Fitch reports appeared first on Insurance News | InsuranceNewsNet.
Life insurance isn't bought with money, it's bought with age and health status.
The post Most Americans overestimate life insurance costs while underestimating health risks appeared first on Insurance News | InsuranceNewsNet.
The agenda featured discussions on topics such as: the continued growth and prevalence of artificial intelligence; the return of the U.S. Department of Labor’s Fiduciary Rule; insurance issues related to catalytic converter theft; medical loss ratios for dental health care services plans; public adjuster professional standards reform; and more.
The post NCOIL elects officers, adopts policy on fiduciary rule, AI and others appeared first on Insurance News | InsuranceNewsNet.
Many seniors, while concerned about outliving retirement resources, are not accurately predicting their lifespan.
The post Many not planning well for life expectancy, study finds appeared first on Insurance News | InsuranceNewsNet.
DEI is attracting greater attention from the actuarial profession, with several associations aiming to diversity its ranks.
The post Taking steps to spur diversity in actuarial profession appeared first on Insurance News | InsuranceNewsNet.
People who have financial fears are five times more likely to want to buy life insurance, while affordability is a concern.
The post Financial fears encourage, inhibit life insurance sales appeared first on Insurance News | InsuranceNewsNet.
Actuarial businesses should implement their own AI governance frameworks, as official regulation is lagging, a panel of experts recommended.
The post As regulation lags, panel urges actuarial AI frameworks appeared first on Insurance News | InsuranceNewsNet.
A top executive to disgraced financier Greg Lindberg agreed to settlement terms with four insurance companies once owned by Lindberg and now in liquidation.
The post Greg Lindberg accomplice settles with insolvent insurers for $75k appeared first on Insurance News | InsuranceNewsNet.
Globe Life is being sued by a former executive who claims he was fired for blowing the whistle on "potentially illegal" sales practices.
The post Ex-Globe Life exec claims insurer ignored bad acts, brings whistleblower suit appeared first on Insurance News | InsuranceNewsNet.
Increasing fraud threats make it crucial for insurance companies and professionals to be on guard.
The post Fight fraud through ‘Know Your Financial Professional’ standards appeared first on Insurance News | InsuranceNewsNet.
Massachusetts Mutual Life Insurance Co. said it will "wind down" its online Haven Life subsidiary, which offers term life insurance only.
The post MassMutual to ‘wind down’ Haven Life amid poor results, high costs appeared first on Insurance News | InsuranceNewsNet.
Cash value life insurance is a "tax me never" asset for clients in retirement, two insurance company executives said at a recent industry event.
The post Life insurance: Helping clients achieve tax avoidance appeared first on Insurance News | InsuranceNewsNet.
Life insurance and annuity providers using digital technology to interact with customers are receiving higher survey satisfaction scores.
The post Digital-friendly life, annuity providers lead in satisfaction study appeared first on Insurance News | InsuranceNewsNet.
With a majority of carriers reporting higher results in the third quarter, total individual life insurance new annualized premium increased 5% to $3.7 billion year-over-year, according to the preliminary results from LIMRA’s U.S. Retail Individual Life Insurance Sales surveys and estimates.
The post Q3 individual life insurance premium tops $3.7B, up 5% appeared first on Insurance News | InsuranceNewsNet.
The plaintiffs sued Pacific West Capital Group, Inc. and the company’s sole owner Andrew B. Calhoun IV, accusing them of marketing the sale of fractional interests in universal life insurance policies to investors using misleading and incomplete information.
The post Life insurance Ponzi scheme victims land $9.57M settlement appeared first on Insurance News | InsuranceNewsNet.
Life insurance is a valuable tool to protect your family, and potentially your business interests after your death. Your estate plan is the collection of legal documents that include directions about what should happen to your assets upon your death. Your estate plan could include either a Last Will and Testament or a maybe a Living Trust.
The post Don't let your life insurance ruin your estate plan appeared first on Insurance News | InsuranceNewsNet.
Steiner previously served as NAIFA’s Vice President of Business Development and Strategic Partnerships from 2015-2021 and most recently as President of United Wealth Advisors Group.
The post Brian Steiner named executive director of Life Happens appeared first on Insurance News | InsuranceNewsNet.
Indexed universal life insurance makes sense for a client if it helps people accomplish their financial goals, not if it replaces their financial goals.
The post How IUL supplements a financial plan appeared first on Insurance News | InsuranceNewsNet.
MassMutual is the latest life insurance company to embrace behavioral insurance to help improve the health and longevity of their policyholders and reduce premature death claims.
The post MassMutual embraces behavioral insurance with new program appeared first on Insurance News | InsuranceNewsNet.
Life insurance executives and actuaries believe excess mortality rates are alarming and could continue to drag earnings for years to come.
The post ‘Excess mortality’ continuing surge causes concerns appeared first on Insurance News | InsuranceNewsNet.
The National Association of Insurance and Financial Advisors announced that John A. Davidson, LUTCF, FSS, President and CEO of Davidson Insurance & Financial Services, Inc., in Moorpark, CA, is the 2023 recipient of NAIFA’s Terry Headley Lifetime Defender Award.
The post John A. Davidson to receive NAIFA’s Terry Headley Lifetime Defender Award appeared first on Insurance News | InsuranceNewsNet.
A new study reveals profitable growth is the most important challenge on the minds of C-suite executives in the life insurance industry, followed closely by talent management.
The post LIMRA: Profitable growth top of mind for executives in the life insurance industry appeared first on Insurance News | InsuranceNewsNet.
Why there’s a life insurance gap among Black and Hispanic Americans, women and Generation Z – and how to overcome it.
The post The life insurance gap: Where it exists, why it persists appeared first on Insurance News | InsuranceNewsNet.
A new study reveals profitable growth is the most important challenge on the minds of C-suite executives in the life insurance industry, followed closely by talent management.
The post Profitable growth is top of mind for life insurance execs appeared first on Insurance News | InsuranceNewsNet.
Accelerated underwriting can deliver a less intrusive experience for the consumer while maintaining a robust underwriting process
The post What has accelerated underwriting done for life insurers? appeared first on Insurance News | InsuranceNewsNet.
A DEI-focused technology partner can maximize the value of your operational investment and ensure accessibility for all.
The post Bringing DEI principles to tech leads to exceptional customer experience appeared first on Insurance News | InsuranceNewsNet.
Life insurance sometimes doesn't keep up with a policyholder's needs as their family grows up and costs increase.
The post Is a life insurance policy like the family minivan? appeared first on Insurance News | InsuranceNewsNet.
The latest life insurance application data shows a sharp decline among a demographic that should be a reliable source of sales: Americans ages 50+.
The post Life insurance application activity in sharp decline among 50+ ages appeared first on Insurance News | InsuranceNewsNet.
After years of mortality improvements, a slowing of life expectancy gains resulting from the COVID-19 pandemic has triggered uncertainty for life insurers and annuity providers.
The post Long-term mortality trends: Challenges for life insurers appeared first on Insurance News | InsuranceNewsNet.
According to the J.D. Power 2023 U.S. Individual Life Insurance Study and the J.D. Power 2023 U.S. Individual Annuity Study, both released today, customer satisfaction is climbing as more customers make use of digital tools and start using life insurance and annuities for financial planning in addition to final planning.
The post State Farm, F&G top J.D. Power customer satisfaction lists appeared first on Insurance News | InsuranceNewsNet.
A lawsuit against Pacific Life by a Washington couple dissatisfied with a PDX indexed universal life policy is back on track after a round of refilings.
The post Pacific Life lawsuit back on track after complaint refiled appeared first on Insurance News | InsuranceNewsNet.
Paul A. Quaranto Jr., chairman, CEO and president of Boston Mutual Life Insurance Company, was named ACLI Chair for 2024.
The post Boston Mutual Life CEO elected ACLI chair for 2024 appeared first on Insurance News | InsuranceNewsNet.
The U.S. Department of Labor Friday announced a settlement with United of Omaha Life Insurance Co. that requires the company...
The post DOL settles with United of Omaha Life Insurance to reform its evidence of insurability appeared first on Insurance News | InsuranceNewsNet.
About 8 out of 10 business owners surveyed expressed worries that specific events or losses would have the potential to affect their business. Life insurance and business owners policies tied as the top concerns.
The post Business owners worry about gaps in insurance coverage, survey finds appeared first on Insurance News | InsuranceNewsNet.
Sep. 27— HAMMOND— A Crown Point man who pleaded guilty to defrauding insurance companies in June was sentenced to 12 months and a day in prison on Wednesday, according to court records. Marlon Underwood, 49, was indicted by a federal grand jury in 2021 for tricking a Maryland insurance firm to pay him for insurance policies he sold to Northwest Indiana residents.
The post Phony Crown Point insurance agent sentenced to just over a year in prison appeared first on Insurance News | InsuranceNewsNet.
Life Insurance Awareness Month gives an opportunity to discuss some key points to reinforce with clients to help remind and educate them on the important part it plays in securing one's financial future.
The post Life Insurance Awareness Month: Key points to reinforce with consumers and clients appeared first on Insurance News | InsuranceNewsNet.
This new permanent life insurance product, available through the workplace, offers a streamlined digital process for employees to receive an instant offer for personally owned coverage.
The post John Hancock launches Premier Benefit IUL appeared first on Insurance News | InsuranceNewsNet.
LIMRA and LOMA execs shared some insights and advice about why more women aren't buying life insurance and what advisors can do about it.
The post Why aren’t more women buying life insurance? appeared first on Insurance News | InsuranceNewsNet.
Corebridge Financial, Inc. today announced that it has entered into a definitive agreement to sell its UK life insurance business, to Aviva plc for a total consideration of £460 million in cash. Peter Zaffino, Chairman and Chief Executive Officer of majority shareholder American International Group, and Chairman of the Board of Directors of Corebridge, said: "...
The post Corebridge Financial to sell UK life insurance business to Aviva appeared first on Insurance News | InsuranceNewsNet.
The life insurance industry has a new tool to identify mortality risk among applicants.
The post Accelerated underwriting analysis shows increased outreach to Black, Hispanic life insurance applicants appeared first on Insurance News | InsuranceNewsNet.
Government prosecutors and Phillip Roy Wasserman are waging an escalating battle of obstruction charges as a Florida judge prepares to sentence the former "Annuity King" on fraud charges.
The post U.S attorney alleges obstruction, seeks stiffer sentence for ‘Annuity King’ appeared first on Insurance News | InsuranceNewsNet.
Be a superhero to your clients by offering life settlements.
The post Unharness your business’s epic ascension with life settlement superhero power appeared first on Insurance News | InsuranceNewsNet.
North Carolina regulators are releasing funds to long-suffering policyholders who own life insurance and annuities with insurers formerly controlled by Greg Lindberg.
The post NC regulators release $1.2B from former Lindberg insurers in receivership appeared first on Insurance News | InsuranceNewsNet.
The Japanese insurance model of selling mass quantities of insurance using a large sales force will struggle to survive in the next decade.
The post Japan’s changing insurance industry can learn some lessons from the U.S. market appeared first on Insurance News | InsuranceNewsNet.
Two decades later, the nonprofit remains dedicated to helping Americans achieve financial security through a better understanding of the value of life insurance.
The post Life Happens celebrates 20th Life Insurance Awareness Month with a focus on single parents appeared first on Insurance News | InsuranceNewsNet.
John Hancock continues its efforts to redefine the role of a life insurance company, hosting its first Longevity Symposium in Boston.
The post John Hancock steps up redefining life insurance with ‘Longevity Symposium’ appeared first on Insurance News | InsuranceNewsNet.
Carrier & Product News
Is 40 Year Term Available? YES!!!
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...