Life Insurance News
Detroit Tigers first baseman Miguel Cabrera's off-field fiasco has finally come to an end as a Florida judge has ordered him to pay $20,000 a month in child support to an ex-mistress he fathered two children with and pay off her nearly $1 million mansion by July.
The post MLB Star Miguel Cabrera Ordered To Buy Life Insurance For Ex appeared first on InsuranceNewsNet.
The Milwaukee Brewers ballpark will be renamed when MillerCoors' naming rights expire following the 2020 season. MillerCoors says the rights to Miller Park will go to American Family Insurance beginning in 2021.
The post Brewers Sign Ballpark Naming Rights Deal With American Family Insurance appeared first on InsuranceNewsNet.
LIMRA is expects U.S. individual life insurance sales to rise 3 percent to $15 billion this year. Growth will be primarily driven by gains in disposable income and bond rates, coupled with low unemployment, the research organization reports.
The post Life Insurance Sales To Rise 3 Percent In 2019, LIMRA Forecasts appeared first on InsuranceNewsNet.
--AmeriServ Financial, Inc. reported fourth quarter 2018 net income of $1,928,000, or $0.11 per diluted common share. For the year ended December 31, 2018, the Company reported net income of $7,768,000, or $0.43 per diluted common share. Jeffrey A. Stopko, President and Chief Executive Officer, commented on the 2018 financial results: " AmeriServ Financial achieved...
The post AmeriServ Financial Reports Increased Earnings For 4Q And 2018 appeared first on InsuranceNewsNet.
“With Bermuda’ s leadership position within this industry, it is paramount to have a strong presence at ReFocus to continue raising our profile and attracting further interest from prospective clients,” said Jereme Ramsay, Business Development Manager for Risk Solutions at the BDA.“ The content and audience offer a natural fit for Bermuda- based carriers and...
The post Bermuda Raising Profile Of Life/Annuity Insurance Sector appeared first on InsuranceNewsNet.
Some relatives of people whose cremated remains were found among hundreds in a Detroit funeral home say they would have loved to bury them in marked graves but couldn't afford traditional funeral services. They're among the many poor families in the U.S. who have been priced out of funerals and burials. Their stories help explain how two Detroit funeral homes now under scrutiny ended up having so many remains and why the families didn't notice.
The post Paying For Funerals Impossible For Many Poor Families appeared first on InsuranceNewsNet.
The IRS finalized a regulation Friday making clear that owners and shareholders of insurance agencies and brokerages organized as pass-through entities can fully benefit from a new tax deduction. Under the regulation, owners and shareholders of insurance agencies and brokerages can take up to a 20 percent tax deduction on qualified business income.
The post New Tax Rule On Pass-Through Businesses To Benefit Agency Owners appeared first on InsuranceNewsNet.
--Northwestern Mutual, a leading financial security company, announced today it has been named one of the "Best Employers for Diversity" for 2019 by Forbes magazine. "We're honored to be recognized by Forbes for our efforts to build an inspiring, diverse and inclusive culture," said John Schlifske, Northwestern Mutual chairman, president and CEO.
The post Northwestern Mutual Named One Of ‘Best Employers For Diversity’ By Forbes appeared first on InsuranceNewsNet.
Jan. 16-- MassMutual, which announced last year its departure from Enfield to Massachusetts, is selling its 435,000 square feet of office space on 66 acres. The real estate broker touts MassMutual's proximity to Interstate 91 and Bradley International Airport and that it's accessible to the Hartford and Springfield labor markets. Massachusetts Mutual Life...
The post MassMutual Seeks Buyer For 66-Acre Connecticut Campus appeared first on InsuranceNewsNet.
Sometimes it’s not what they do, it’s what they don’t know how to do.
This includes the PGA Championship, KPMG Women's PGA Championship and KitchenAid Senior PGA Championship. VALIC representatives will be available to meet with PGA Members in the Member Business Center at next week's 66 th PGA Merchandise Show in Orlando. "We are very pleased to have AIG as the Official Insurance Partner of the PGA of America and several of our...
The post AIG Named Official Insurance Partner Of The PGA Of America appeared first on InsuranceNewsNet.
About 50 defendants -- Irish Travelers and their associates -- charged in a four-year federal investigation into white-collar fraud schemes that cheated life insurers, financial firms, credit agencies, car dealerships, and the state and federal governments out of millions of dollars.
The post Agent Gets Prison For Role In Irish Travelers’ Death-For-Profit Scheme appeared first on InsuranceNewsNet.
Jury selection will begin in Manhattan Supreme Court in the trial of Roderick Covlin, who was charged in November 2015 with strangling financial adviser Shele Danishefsky Covlin, the 47- year-old mother of their two kids, on New Year's Eve 2009.. She was found lifeless in the bathtub inside her Upper West Side apartment by their then 9- year-old daughter Anna.
The post ‘Playboy’ Husband Accused Of Killing Wife For Life Insurance appeared first on InsuranceNewsNet.
Less than four years after producing Actuarial Guideline 49, the NAIC is ready to tackle indexed universal life illustrations yet again. An IUL illustration subgroup has a 2019 charge to "provide recommendations for modifications to AG 49."
-Burns' Legacy Includes Helping Position Company as a Leader in the FIA Market. Allianz Life Insurance Company of North America has announced that Tom Burns, chief distribution officer, will retire from the company, effective on April 15, 2019. Succeeding Burns is Eric Thomes, currently head of field marketing organization distribution for the company.
The post Allianz Life Chief Distribution Officer Retires; Eric Thomes Named Successor appeared first on InsuranceNewsNet.
HORSHAM, PA. – January 7, 2019 – Penn Mutual, a Fortune 1,000 Company, introduces its latest permanent life insurance product,...
The board of directors of MetLife today announced that Michel A. Khalaf, president, U.S. Business and EMEA, will become MetLife’s president and chief executive officer on May 1, 2019. Steven A. Kandarian, who led MetLife through a period of significant change, is retiring.
In current assumption UL, the growth of the policy’s cash value is based on a flat crediting rate that is established by the insurance carrier and adjusted from time to time. The unique policies have come under fire from some longtime clients who say the promises made at time of sale have not materialized.
The post Why Are So Many Universal Life Insurance Policies Failing? appeared first on InsuranceNewsNet.
If you or someone you care about is among America's estimated 75 million baby boomers, there are a few financial facts and figures you should know. For one thing, middle-income boomers are carrying more debt into retirement than ever before. According to a recent study commissioned by Bankers Life Center for a Secure Retirement, middle-income boomers have...
The post How To Use Life Insurance In Better Estate Planning appeared first on InsuranceNewsNet.
AXA S.A. was ranked at No. 2 in each of the latest rankings. U.S.- based health insurance carriers and insurers in China continue to dominate the NPW ranking, accounting for six of the top 10 insurers. China Life Insurance Company showed a 14% gain and People’ s Insurance Company of China Ltd. gained 10%.
The post AM Best Ranks UnitedHealth Group And Allianz As World’s Largest Insurers appeared first on InsuranceNewsNet.
The purchase includes a long-term license to use certain Gerber Life intellectual property, including the Gerber Life name and logo, in connection with certain financial services. The deal brings a leading direct-to-consumer life insurer to Western & Southern's diversified family of financial services businesses.
The post Western & Southern Completes $1.55 Billion Purchase Of Gerber Life appeared first on InsuranceNewsNet.
--Ohio National Financial Services is pleased to introduce its new Prestige 20- pay, the company’ s fifth whole life insurance product, adding depth to its portfolio.* Design enhancements have also been made to its two other limited-pay whole life products, Prestige 10- Pay II and Prestige Max III.. “Ohio National now has five distinct whole life products to meet...
The post Ohio National Adds New Whole Life Product To Portfolio appeared first on InsuranceNewsNet.
MIB Group recently signed an agreement with Epic to utilize its electronic health records system. Under the agreement, MIB's 400 U.S. life insurance members will be able to access electronic health record (EHR) data via Epic's Chart Gateway for life insurance underwriting.
West Liberty University issued the following news:. West Liberty University alumni made the New Year more prosperous when former members of the wrestling team displayed true teamwork in initiating a $1 million legacy gift to strengthen the future of grapplers on the Hilltop. I am grateful for their leadership and commitment to West Liberty University's...
The post West Liberty Wrestlers Build Legacy Through Life Insurance appeared first on InsuranceNewsNet.
The year in life insurance and annuities featured lots of surprising news about companies moving in and out of the business. In addition, sales numbers hit new lows before bouncing back at year's end, and new products and strategies also attracted reader interest.
--Aflac Incorporated announced today that it has made a $20 million minority equity investment in Singapore Life Pte. Ltd., a digitally-focused life insurance company based in Singapore. Also commenting on the announcement, Aflac Incorporated Executive Vice President and Chief Financial Officer Frederick J. Crawford said: "As a leader in voluntary health and...
The post Aflac Announces $20 Million Minority Equity Investment In Singapore Life appeared first on InsuranceNewsNet.
By Chris Orestis H.R. 7203, introduced by U.S. Rep. Kenny Marchant (R-TX) and U.S. Rep. Brian Higgins (D-NY) would permit...
The post Bill Allowing Seniors To Use Life Insurance Proceeds For LTC Costs Introduced In Congress appeared first on InsuranceNewsNet.
Life insurance is well-suited to provide liquidity to meet the needs of clients with large estates, making it an important consideration in boomer estate plans.
The post Life Insurance As A Baby Boomer Estate Planning Tool appeared first on InsuranceNewsNet.
A LIMRA study shows unpaid family caregivers are falling short in their insurance needs. But how does the industry reach this time-stressed and resource-stressed group?
Group life insurance is undertaken by the Federal Government through the Office of Head of Civil Service of the Federation on behalf of the civil servants for their protection against unforeseen circumstances, such as death and disabilities associated with industrial hazards, while in active service. The Chairman of the Nigerian Labour Congress, Lagos...
The post Workers At Risk As Government Delays Insurance Premium Payment appeared first on InsuranceNewsNet.
Sammons Financial Group is building a 200,000-square-foot office with plans for additions in the future, the Des Moines Register reported. The company has pledged to add 200 new jobs to its existing base of 510 employees.
Consumers may go online to get information about life insurance, but advice from an agent is still a big part of the insurance-buying process. That was the word from Deloitte’s annual Insurance Industry Outlook for 2019.
The post Deloitte’s 2019 Insurance Agent Outlook: ‘Stay Optimistic’ appeared first on InsuranceNewsNet.
Holistic planning and financial wellness are two of the themes that life insurance agents can expect to see in their business in 2019, according to an industry analyst. The challenge for agents is “How do I continue to do what I’m really good at – life insurance – but also be more for my client?”
The post Days Of Just Selling Life Insurance ‘Coming To An End,’ Analyst Says appeared first on InsuranceNewsNet.
--World Financial Group announced today that Tom Dempsey has been appointed as president of World Financial Group. World Financial Group, with operations in the United States and Canada, has over 54,000 agents offering insurance, annuities, mutual funds, retirement plans and managed accounts to individuals, with a focus on the middle and emerging affluent...
The post Tom Dempsey Named President Of World Financial Group appeared first on InsuranceNewsNet.
Weeks after Bellamy Gamboa disappeared, her ex-boyfriend and father of her toddler twins confessed to killing the mother of four at the Virginia Beach home they shared over the summer. But a Virginia judge will not declare her dead, which would release life insurance benefits.
The post Va Family Fights For Life Insurance Despite Murder Confession appeared first on InsuranceNewsNet.
Dec. 18-- NEWPORT NEWS, Va.– A Hayes woman pleaded guilty Monday to stealing nearly $100 K from a Gloucester woman who hired her as a caregiver. Court documents say in early 2015, 43- year-old Amy Denton began personal care services for A.C., who required assistance due to certain medical issues and limitations. Records say Denton then caused the life insurance...
The post Va Woman Pleads Guilty To Stealing $100K Life Insurance From Client appeared first on InsuranceNewsNet.
Sammons Financial Group will lay off an unspecified number of employees during the first quarter of 2019. The company cited efficiencies and automation as reasons behind the layoffs, which follow last month's announcement of layoffs by Nationwide.
The post Sammons Financial Lays Off ‘Small Group’ Of Employees appeared first on InsuranceNewsNet.
Authorities say Ronald Warren Powell accepted more than $800,000 of investor funds and misappropriated those funds for his personal benefit instead of investing the money. Powell also received money from two victims paying life insurance premiums, but he failed to remit those premiums to the appropriate insurance companies.
The post Alabama Agent Pleads Guilty To Securities And Insurance Fraud appeared first on InsuranceNewsNet.
iPipeline ®– a leading provider of cloud-based software solutions for the life insurance and financial services industry– today reported World Financial Group Insurance Agency, Inc., an insurance agency with over 50,000 agents, has launched the AgentOne app to modernize their new business platform. The enterprise-wide deployment enables WFG’ s agents to...
The post World Financial Group Agents Get iPipeline Software Capability appeared first on InsuranceNewsNet.
Vantis Life Insurance Company, an industry-leading life insurance provider for mass market consumers, will inaugurate its new Chairman and CEO Ray Caucci on Jan. 2, 2019. Caucci succeeds Peter Tedone, who will retire from Vantis Life on Jan. 1, 2019 after a 31- year career. He is a Fellow of the Society of Actuaries, a member of the American Academy of Actuaries, and...
Hybrid life/long-term care insurance policies solve two problems: the life insurance gap among American households and the continued high cost of standalone LTCi.
The post Hybrid Life/LTCi: Breaking Down Barriers And Bridging Gaps appeared first on InsuranceNewsNet.
RIVERWOODS, Ill., Dec. 11, 2018 (GLOBE NEWSWIRE) -- Federal Life Mutual Holding Company (“FLMHC”) has completed its conversion from a...
The post Federal Life Completes Conversion To Stock Company appeared first on InsuranceNewsNet.
AM Best has commented that the Financial Strength Rating of A- and the Long-Term ICRs of“ a-” of National Teachers Associates Life Insurance Company and its subsidiary, NTA Life Insurance Company of New York, are unchanged following the announcement of the sale of the companies to Horace Mann Educators Corporation. The transaction, announced Dec. 10, 2018, is...
The post AM Best Likes Horace Mann’s Acquisition Of National Teachers Associates Life appeared first on InsuranceNewsNet.
Sixty-nine percent of Millennial business owners work with an insurance agent, followed by Boomers at 66 percent and Gen X at 59 percent. The most common reason for working with an insurance agent among all generations is the trust that business owners place on the guidance and expertise from an agent.
The post Millennial Business Owners More Likely To Work With Agents appeared first on InsuranceNewsNet.
Dec. 11-- Horace Mann Educators Corp. announced Monday it has signed a deal to acquire a Dallas- based insurance company for $405 million. The company will acquire National Teachers Associates Life Insurance Company, a family-owned firm that specializes in supplemental insurance products for teachers. NTA has about 220 agents nationwide and had about $130...
The post Horace Mann Acquiring Dallas Insurer In $405M Deal appeared first on InsuranceNewsNet.
“Most Americans admit to experiencing financial stress during the course of a year, so it’ s not surprising that it can take a toll on a person’ s health and well-being,” said Bill Smith, president of Cigna Group Insurance.“ My Secure Advantage provides the tools, resources and advice to meet the needs of individuals wherever they are in their personal financial...
Insure.com' s annual salary calculation based on recent Bureau of Labor Statistics wage data shows Santa would earn a salary of $152,367. Santa's salary puts the Clauses in the upper class, comfortably passing the income bracket which defines the middle class as incomes between $40,500 and $122,000. "At this point in his career, Santa has high-value assets like...
The post Santa’s ‘Salary’ Puts Him Into The Upper Income Bracket appeared first on InsuranceNewsNet.
AM Best cited increased profitability, improved regulatory and tax environments and a strengthening U.S. economy in adjusting its 2019 life insurance/annuities outlook from negative to stable. Also, an overall reduced balance sheet risk due to a proactive approach taken by companies in recent years is seen as a positive trend.
The post Best’s Report: U.S. Life/Annuity Outlook Revised To Stable appeared first on InsuranceNewsNet.
Sheriff's deputies have obtained an arrest warrant for a fourth suspect wanted in connection with an alleged murder-for-hire plot that left Austin jeweler Ted Shaughnessy dead in his home in southwest Travis County in March. Police say the suspects, which include family members, sought life insurance proceeds.
The post Fourth Suspect Charged In Alleged Texas Murder-For-Insurance Plot appeared first on InsuranceNewsNet.
LIMRA and Wink were both correct with last week’s “universal life is up” and “universal life is down” reports, respectively. The key is how the data is viewed. Overall, new premium rose quarter-over-quarter from 2017.