Life Insurance News
Prudential Financial Inc. will temporarily suspend taking applications for 30-year term life insurance policies, effective April 13, a spokeswoman confirmed today. The insurer cited "unprecedented market volatility over the past month and the anticipated low interest rate environment."
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Billionaire insurance magnate Greg Lindberg's lawyers filed a motion Thursday for acquittal and for a new trial in the Western District of North Carolina. His attorneys submitted a 69-page document, claiming court errors, the government failed to meet the standard of "beyond reasonable doubt," and that Lindberg was entrapped.
The post Billionaire Insurer Greg Lindberg Seeks New Trial In Bribery Case appeared first on InsuranceNewsNet.
Virtual selling may take you out of your comfort zone, but it's an effective way to reach clients and prospects in the time of stay-at-home orders and social distancing.
Henrico County- based Genworth Financial Inc. has received all of the regulatory approvals needed for its planned acquisition by a China- based investment firm, but the companies are delaying the deal by as much as an additional three months because of the economic disruption caused by the coronavirus pandemic. Genworth, an insurance company with thousands...
The post Genworth-Oceanwide Delay Merger Three Months Due To COVID-19 appeared first on InsuranceNewsNet.
Leaders of four insurance industry organizations have sent letters to every state insurance licensing authority requesting temporary licensing accommodations for producers who...
The post Industry Groups Urge States To Temporarily Ease Licensing Requirements appeared first on InsuranceNewsNet.
Life insurance is an invaluable asset to those facing advanced-stage illness. It’s also a flexible asset that can be leveraged in different ways to meet individuals’ various financial needs.
The post Leveraging Life Insurance For Those With An Advanced-Stage Illness appeared first on InsuranceNewsNet.
The outlook for the US life insurance sector has been changed to negative from stable, owing to the unprecedented economic...
The post Moody’s Changes US Life Insurance Outlook To Negative appeared first on InsuranceNewsNet.
An insurance company has agreed pay the money to Russell Faria, of Lincoln County, The St. Lawyers for the three current and former Lincoln County Sheriff's Department officers named in the suit did not immediately respond to requests for comment. Elizabeth“ Betsy” Faria was killed in 2011. Russell Faria was convicted and sentenced to life in prison, though he...
The post $2M Awarded To Missouri Man Wrongfully Sent To Prison appeared first on InsuranceNewsNet.
Insurers are required to delay collecting premium on life insurance and annuity contracts written in New York for 90 days under an emergency regulation adopted today. The directive covers consumers experiencing financial hardship due to the COVID-19 pandemic, the New York Department of Financial Services said.
The post New York Requires Insurers To Delay Collecting Premium appeared first on InsuranceNewsNet.
When we think of life insurance, often the first thing that comes to mind is protection. That protection extends to both good and bad markets – and not just death benefits, but living benefits, too. Given the recent headlines, here are some talking points you can share with clients.
The post Life Insurance Offers Clients Protection In Tough Times appeared first on InsuranceNewsNet.
Market crash and recession fears increased significantly from the end of 2019 when worries were at their lowest levels in over a year and half. Now, nearly two-thirds of Americans (63%) express concerns about a recession (compared with 43% in Q4 2019).
The post Allianz: Americans Not Panicking, Trying To Stay The Course appeared first on InsuranceNewsNet.
As the COVID-19 pandemic continues to disrupt the world, life insurance carriers are challenged by maintaining a profitable business. One looming fear for consumers is the cost of life insurance. Will it go up?
The post How Long Will Pre-COVID Life Insurance Rates Last? appeared first on InsuranceNewsNet.
In a new lawsuit filed in North Carolina, Greg Lindberg accuses Insurance Commissioner Mike Causey -- who wore a wire and cooperated with the FBI -- of "abuse of power and breach of the public trust." Lindberg was convicted on bribery charges March 5.
The post Insurance Commissioner Set Me Up, Greg Lindberg Claims In Lawsuit appeared first on InsuranceNewsNet.
Clients want human interaction in this time of social isolation, and they need to have their advisors communicate with them. Brock Jolly, financial advisor at Veritas Financial, shared some tips for communicating with clients during a webinar held Monday for members of the National Association of Insurance and Financial Advisors.
The post Quick Tips For Communicating With Clients During COVID-19 Crisis appeared first on InsuranceNewsNet.
Life insurance sales were very strong in 2019, according to Wink’s Sales & Market Report, with indexed life sales smashing records. Indexed life sales for the fourth quarter were $725.1 million, up 30.8% when compared with the previous quarter, and up 14.6% as compared to the same period last year.
The post CSO Deadline Drives Indexed Life Sales Records In 2019: Wink appeared first on InsuranceNewsNet.
Total insurance industry merger-and-acquisition deals in the fourth quarter 2019 totaled $11.43 billion in the U.S., according to GlobalData’s deals database. The value marked an increase of 174% over the previous quarter.
COVID-19 is impacting the insurance industry in multiple ways—from employee and business continuity issues to client service considerations to the financial outlook. Here are some key issues insurers face and potential action steps they could take.
Former life insurance agent Christopher Dougherty, 47, pleaded guilty to several fraud charges this week, partly related to a phony marijuana farm investment he successfully pitched to unknowing investors.
The post California Agent ‘Ruthlessly’ Conned Investors: Commissioner appeared first on InsuranceNewsNet.
California is pressing all insurers to give policyholders "at least" a 60-day grace period from insurance premium payments.
The post California Prods Insurers For 60-Day Grace Period On Premium Payments appeared first on InsuranceNewsNet.
COVID-19 has left businesses in uncharted waters. It is often insurance that carries businesses through these waters. But policyholders need to know where to look for this life raft, and how to navigate these murky waters.
The post COVID-19: Business Interruption Coverage May Require Creativity appeared first on InsuranceNewsNet.
A federal court judge in North Carolina warned billionaire insurance magnate Greg Lindberg and his team today to stop contacting jurors in his recently completed bribery case.
The post Judge Scolds Greg Lindberg For Jury Contact After Bribery Conviction appeared first on InsuranceNewsNet.
--As part of the panic that has consumed the world surrounding the COVID pandemic, many consumers are asking whether insurance companies are doing anything different, or perhaps, postponing the ability of consumers to obtain life insurance, for general pandemic related reasons. When a worldwide event such as COVID-19 consumes the news, life insurance becomes...
The post How COVID-19 Is Impacting The Life Insurance Business appeared first on InsuranceNewsNet.
A recent LIMRA and LOMA survey of financial services companies found that 91% have a pandemic stress scenario in place, but just 16% see the coronavirus as a severe pandemic.
The post Just 16% Of Financial Services Companies See Coronavirus As Severe: Survey appeared first on InsuranceNewsNet.
The federal government filed a motion today in a North Carolina court for forfeiture of nearly $1.5 million seized from insurance magnate Greg Lindberg, who was convicted on bribery charges last week.
The post Feds Seek $1.5M In Forfeiture From Fallen Insurer Greg Lindberg appeared first on InsuranceNewsNet.
The new partnership will answer several industry challenges including raising the level of financial literacy in American households, as well as raising awareness of career options in financial services.
The post Industry Groups Partner To Create Financial Security Alliance appeared first on InsuranceNewsNet.
TALLAHASSEE-- Florida lawmakers on Thursday passed a bill that would block life insurers and long-term care insurers from using genetic information to price policies, making Florida the first state to ban the use of the information. "This legislation will also undoubtedly make Florida a model for the rest of the nation for ensuring individuals' genetic...
The post Florida Bill Blocking Insurers From Using Genetic Info Sent To Gov appeared first on InsuranceNewsNet.
--Kansas City Life Insurance Company recorded net income of $10.6 million or $1.09 per share in the fourth quarter of 2019, an increase of $6.8 million or $0.69 per share compared to the fourth quarter of 2018. Net income totaled $24.4 million or $2.52 per share for the year ended December 31, 2019, up from $15.7 million or $1.62 per share for the year ended December...
The post Kansas City Life Announces Fourth Quarter 2019 Results appeared first on InsuranceNewsNet.
February saw a 5.6% increase in life insurance application activity from that of January, MIB reported, an increase not seen for this period in the composite index since 2015. However, the persistent coronavirus is likely to dampen activity in the coming months, MIB added.
The post Younger Buyers Snap Up Life Insurance At Record Rate: MIB Index appeared first on InsuranceNewsNet.
Because all life insurance products were required to shift to the 2017 Commissioners Standard Ordinary (CSO) mortality table by December 31, many companies reported increased sales of products using the 2001 standard as they rushed to beat the deadline in the fourth quarter.
NEW YORK – March 10, 2020 – Seven in ten Americans (70 percent) say life insurance will protect their ability...
The post Most Say They’d Feel Abandoned If Their Partner Died Uninsured appeared first on InsuranceNewsNet.
--Integrity Marketing Group, LLC, today announced it has acquired LifeSmart Senior Services, Inc., a Medicare marketing organization based in Chicago, Illinois. As part of the transaction, founder Richard Kozlowski will become an owner in Integrity. "We got into this business because we wanted to help people, and Integrity's values reflect that same commitment,"...
The post Integrity Marketing Group Adds LifeSmart Senior Services To Portfolio appeared first on InsuranceNewsNet.
NFP, a leading insurance broker and consultant that provides property and casualty, corporate benefits, retirement and individual solutions, today announced a strategic collaboration with John Hancock to significantly streamline the life insurance buying experience. Through its longstanding relationship with John Hancock, NFP will have access to...
The post NFP And John Hancock Team Up On Life Insurance Platform appeared first on InsuranceNewsNet.
--Aon plc and Willis Towers Watson today announced a definitive agreement to combine in an all-stock transaction with an implied combined equity value of approximately $80 billion. 4. "The combination of Willis Towers Watson and Aon is a natural next step in our journey to better serve our clients in the areas of people, risk and capital," said Willis Towers Watson...
The post Aon Merges With Willis Towers Watson To Create Insurance Giant appeared first on InsuranceNewsNet.
New bipartisan legislation could go a long way toward helping seniors pay for late-life care through favorable tax changes, say officials with the Life Insurance Settlement Association. The bill would allow seniors to sell their life insurance policies and use the proceeds, tax-free, to pay for their health care costs.
The post Seniors May Get Tax-Free Life Settlements If House Bill Passes appeared first on InsuranceNewsNet.
The National Association of Insurance Commissioners will be holding a full-day special session of the nations’ chief state insurance officials on March 22, 2020, to discuss state response and coordination around COVID-19.
Mar. 5-- The 46- year-old mother of two missing children, last seen in September, will be extradited tonight from Kauai to Rexburg, Idaho. Lori Vallow, also known as Lori Daybell, stood--arms crossed and legs shackled wearing orange jail garb and brown-rimmed glasses--this morning before Kauai Circuit Judge Kathleen Watanabe. Kauai Prosecutor Justin Kollar told...
The post Idaho Mom Of Two Missing Kids Set To Be Extradited Home appeared first on InsuranceNewsNet.
A GoFundMe request for funeral expenses following the recent Milwaukee shooting emphasizes the need for life insurance advisors to provide solutions to "regular" families. Don't be afraid to prospect in your everyday life. Someone might one day thank you for it.
The post Prospect Where You Play And Prospect Where You Pray appeared first on InsuranceNewsNet.
The state Assembly passed a bill 78-0 last week banning STOLI and sent it to the Senate, which previously introduced the legislation. The Democratic caucus is leading the effort in both houses and Gov. Phil Murphy, D, is likely to sign the final product.
The post NJ Assembly Passes Ban On Stranger-Originated Life Insurance appeared first on InsuranceNewsNet.
A jury will decide the fate of Durham billionaire Greg Lindberg and two of his associates. During closing arguments in Lindberg's federal bribery trial, jurors on Tuesday heard a prosecutor argue that hours of secretly recorded conversations show "the enthusiasm by these men to buy an insurance commissioner."
The post Greg Lindberg Bribery Charges In Hands Of A North Carolina Jury appeared first on InsuranceNewsNet.
In direct premium life insurance, Northwestern Mutual ascended to the top spot with a 7% market share and $11.3 billion in premium.
The post Northwestern Takes Top Spot In 2019 Life Insurance Premium: NAIC appeared first on InsuranceNewsNet.
New research finds the vast majority of respondents would opt to share real-time wellness data with insurance companies through wearable devices in exchange for ongoing financial benefits like a lower life insurance premium or wellness rewards. In fact, 85% say a lower life insurance premium would incentivize them to live a healthier lifestyle.
The post Survey: Most Adults Would Improve Health For Lower Premiums appeared first on InsuranceNewsNet.
The Eighth Circuit Court of Appeals handed a big victory recently to Liberty Insurance Underwriters over the use of life insurance in a company stock dispute.
The post Appeals Court Sides With Insurer In Shareholder Dispute appeared first on InsuranceNewsNet.
According to a recent LIMRA study, 3 out of 4 life insurance companies in the U.S. and Canada have some type of automated and/or accelerated underwriting program. One in two companies has both.
The post Insurers Seek Growth Through Accelerated Underwriting appeared first on InsuranceNewsNet.
My husband and I had our first child in December. We're both 27, we have good jobs, and our mortgage is $105,000. If you two are healthy, you both could easily get $250,000 on 20- year level term life insurance policies, for around $12 a month.
The post Life Insurance A Better Option Than Mortgage Insurance: Dave Ramsey appeared first on InsuranceNewsNet.
Dolores Morgan, 66, and her 47- year-old son, Ted Connors, were indicted Wednesday on seven counts of murder and conspiracy, according to the Monmouth County Prosecutor’ s Office. Morgan and her son, who have been living in Florida, are accused in the deaths of Nicholas Connors and Ana Mejia in Long Branch during the 1990 s. Nicholas Connors- Morgan’ s then husband, and...
The post Mother, Son Indicted For 25-Year-Old New Jersey Murders appeared first on InsuranceNewsNet.
The National Association of Insurance Commissioners is terminating its Insure U consumer education website.
I approach life insurance as a way to protect a financial need. It is there to protect against the catastrophic loss of your life that would forever change the financial future of your family. Life insurance can maintain your family's lifestyle, provide resources for your children's college education, protect the transition of your business, etc.
WEST DES MOINES, Iowa, Feb. 21, 2020 (GLOBE NEWSWIRE) -- WEST DES MOINES, IA, Feb. 21, 2020 – North American...
MINNEAPOLIS – February 21, 2020 – Allianz Life Insurance Company of North America (Allianz Life®) today announced its 2019 financial...
The post Life, IVAs Fuel Strong Growth For Allianz Life In 2019 appeared first on InsuranceNewsNet.
WEST DES MOINES, Iowa, Feb. 20, 2020 (GLOBE NEWSWIRE) -- Midland National® Life Insurance Company, one of America’s preeminent life insurance...
The post Midland National Creates Strategic Accelerator IUL 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...