Life Insurance News
Accelerated underwriting holds the promise of being able to cut the agent's time spent selling a $500,000 policy from 20 hours to roughly five, one industry expert says. That could mean a lot more policies sold to a middle market that is woefully lacking in life insurance coverage.
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Euri Jenkins cried in court when his lawyer told him that his murder trial-- he’ s accused of hiring a hit man to kill his pregnant wife-- will be postponed for three months over a juror shortage. Palm Beach County Circuit Judge Kirk Volker reset the trial to begin April 13, after the jury pool this week dwindled to inadequate numbers. Prosecutors say Euri Jenkins, 33,...
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--Keeping with its commitment to innovate, Edelweiss Tokio Life Insurance has unveiled another comprehensive unit linked insurance plan called Wealth Secure+, which offers flexibility, no premium allocation charges, and means to meet both short-term, and long-term financial goals. Co-created with Policybazaar, Wealth Secure+ leverages customer...
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A federal appeals court recently ordered the United States to make good on a structured annuity the former Executive Life Insurance Company of New York (ELNY) was paying to a burn victim. The decision calls attention to the security of long-term annuity promises when an insurance company goes out of business.
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The California Consumer Protection Act took effect Jan. 1 and sets a high bar for data privacy -- and has potentially significant impacts for insurers and policyholders. For instance, it could make it harder to legally defend lawsuits, a San Francisco lawyer said.
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Jan. 22-- Stocks have already hit record highs in 2020 and the nation's strong economy presents a variety of investment opportunities for middle-class Americans looking to grow wealth, pay off debt, or invest for the future, according to Massachusetts financial planners. They recommend the following tips for maintaining your financial health this year.
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LIMRA is realigning in response to a rapidly changing insurance environment. The association found that its members needed more tools to be efficient in their services and better informed in their product development. LIMRA has already introduced new platforms to help companies in this challenging market.
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A June court order directed the department to take control of four life insurance companies, which Greg Lindberg acquired in recent years and then operated as Global Bankers Insurance Group. Lindberg and several associates are accused of trying to bribe state insurance commissioner Mike Causey.
The post Indicted Insurer Greg Lindberg Rips ‘Politically Motivated Attacks’ appeared first on InsuranceNewsNet.
--Knights of Columbus, a Best's Review Top 50 U.S. Protector NLG Universal Life is available for purchase in the United States and Canada for individuals between 50 and 80 years old. More information about the Knights of Columbus insurance program can be found here: www.kofc.org/insurance.
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Between 2013 and 2018, compound annual growth rate in life insurance premium growth has been 1.7%, the EY report said. Gross written premium grew from $661 billion in 2013 to $718 billion in 2018.
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Closed blocks of business can be a thorn in the side of life insurers. Whether a result of discontinued products or included in a merger or acquisition, these policies remain active and must be serviced, but over the long haul, they may have become very unprofitable.
A House health-care panel approved legislation that would prohibit life-insurance, long-term care insurance and disability-insurance companies from using customers’ genetic information in changing, denying or canceling policies.
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LIMRA today announced three dynamic speakers to talk about what future customers will expect, what diversity and inclusion looks like and how technology will change customer expectations at the upcoming Distribution Conference.
LIMRA is now offering My Products, a dashboard that filters data from its Life Compass tool, to allow companies to “compare individual life insurance products with similar competitors’ products, boosting their ability to track their own performance and adapt to evolving market conditions.”
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NEW YORK--(January 14, 2020)--Equitable, a leading financial services company and subsidiary of Equitable Holdings (NYSE:EQH), today announced it is rebranding...
-Today, John Hancock announces a major step forward in significantly streamlining the life insurance buying experience through a strategic collaboration with Human API, a leading health data platform, offering a simple, digital way for consumers to share access to their electronic health records in real time. Radically simplifying that process and...
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Until 2017, most financial criminal activity targeted banking institutions and credit cards. But the LIMRA Secure Retirement Institute reported in its analysis of a federal consumer survey that with more than $42 trillion in investible assets in the U.S., criminals have turned their attention to life insurance and retirement accounts.
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That's the mantra that inspires Carolina Panthers quarterback Cam Newton and " The Cam Newton Foundation" as they work to enhance the lives of young people in the Charlotte, North Carolina area and around the country. Nationwide will contribute $25,000 to The Cam Newton Foundation. The player who received the most votes by Jan. 12, 2020 received the $25,000...
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Insurance companies would be barred in Florida from using genetic information now widely available through such popular services as23andMe and Ancestry, under legislation filed Thursday by a leading House Republican. Insurers oppose the legislation, though, as another regulation that could disrupt the insurance market in Florida.
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On Jan. 1, the 2017 Principle-Based Reserving and Commissioners Standard Ordinary Table both took effect. Insurers had three years to meet the new standards, but some were certainly more prepared than others, one actuarial expert said.
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Jackson National Life Insurance Company, Jackson National Life Distributors, LLC, and Jackson National Life Insurance Company of New York will pay $20,500,000 to 21 complainants and furnish other relief to settle the EEOC's claims in a race, national origin, and sex discrimination and retaliation lawsuit brought by the U.S. Equal Employment Opportunity...
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Insurers must figure out how to appeal to Generation Z without alienating consumers of older generations. Members of Gen Z want to buy what they want, when they want and how they want. This group is totally online, mostly mobile.
In addition to first-degree murder, Joshua Lee Hunsucker was indicted Monday by a Gaston County grand jury of additional felony charges of insurance fraud and obtaining property over $100,000 by false pretense. Jordan Green, an attorney for the fraud investigations unit of the North Carolina Department of Insurance, said in a previous court appearance that...
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--Haven Life Insurance Agency, the customer-centric life insurance innovator backed and wholly owned by Massachusetts Mutual Life Insurance Company, is today sharing their anticipated 2019 Annual Report. Haven Life's Annual Report is not filled with spreadsheets and sales figures. Taking the high road Growing award-winning tomatoes Negotiating with...
Beneficiary designations can provide a relatively easy way to transfer an account or insurance policy upon your death. However, if you're not careful, missing or outdated beneficiary designations can easily cause your estate plan to go awry. We often complete these designations without giving it much thought, but they're actually important and deserve...
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Gaston County Superior Court Judge Jesse B. Caldwell Jr. granted a temporary restraining order on Dec. 23, 2019, ordering that Joshua Lee Hunsucker not use the $250,000 he received from two life insurance policies shortly after the death of his wife, Stacy Robinson Hunsucker, to post his $1.5 million bail related to his first-degree murder charge.
The post North Carolina Judge Warns Murder Suspect Over Life Insurance Assets appeared first on InsuranceNewsNet.
--Ohio National Financial Services is pleased to announce an enhanced indexed universal life insurance product that features affordable death benefit protection paired with expenses among the lowest in the industry for accumulation focused IULs. Four index accounts and a fixed account so policyholders can allocate premiums to fit their needs A...
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The Penn Mutual Life Insurance Company, a Fortune 1000 Company, introduces a new Guaranteed Whole Life SM insurance product that provides an array of options for a lifetime of security. The product’ s built-in features, including a customized payment period, can offer peace of mind for policyholders and their beneficiaries. “We are excited to introduce this new...
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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...
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Regulatory concerns about the marketing and long-term viability of indexed universal life insurance policies made plenty of news in 2019. Those topics were among the most-read stories we published during the year.
The post Top 5 Life Insurance Stories Of 2019: IUL Tops The List appeared first on InsuranceNewsNet.
2020 JAN 01-- By a News Reporter-Staff News Editor at Mergers& Acquisitions Daily News-- New York Life, America’ s largest mutual life insurer, and Cigna, a leading global health service company, announced that they have entered into a definitive agreement whereby New York Life will acquire Cigna’ s group life and disability insurance business for $6.3 billion.
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The Mount Holly man who is accused of murdering his wife and collecting $250,000 in life insurance was home for the holidays after posting a $1.5 million bail. Upon his wife's death, Joshua Hunsucker had received $250,000 as the beneficiary of her two life insurance policies. Special agents with the North Carolina Department of Insurance had been...
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The Monroe County coroner was looking for relatives or anyone who knew Hughes, who died in the hospital Oct. 17 after a lengthy illness. A roommate knew Hughes was a veteran, which helped Martens, who decided to give him the send-off she thought he deserved, by creating the St. Joseph of Arimathea Ministry as her senior project at Notre Dame High School in East...
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North Carolina Department of Insurance investigators had been looking into Stacy Hunsucker's 2018 death, when she collapsed at home, not breathing, after her mother, Suzie Robinson, accused her husband of insurance fraud. After Stacy died, her two life insurance policies paid out $250,000.
The post NC Man Allegedly Poisoned Wife With Eye Drops For Life Insurance appeared first on InsuranceNewsNet.
Alcoa informed the retirees by letter on Dec. 4 that it would eliminate life insurance coverage effective Dec. 31, 2019. "We negotiated these retiree life insurance benefits with the company, and they are a critical part of our collective bargaining agreements with Alcoa," said USW International President Tom Conway. "Families rely on the contractual death...
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New York Life will acquire Cigna's group life and disability insurance business for $6.3 billion.
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New York Life, America’s largest mutual life insurer, is set to advertise during the Feb. 2 Super Bowl in Miami. The company’s 60-second commercial will run between the 1st and 2nd quarters. The commercial coincides with a larger brand campaign launch scheduled for New York Life’s 175th anniversary in 2020.
--Today, Ladder Insurance Services, LLC, announced that the LadderLife™ term life insurance product issued by Allianz Life Insurance Company of New York has cleared regulatory approvals and will be offered to New York residents as early as January, marking the completion of its nationwide rollout. New York residents will now be able to enjoy the same quick...
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--Sproutt Insurance, the next evolution of life insurance, announced today that it has launched and secured $12 million in Series A funding from State of Mind Ventures, Moneta Capital, and Guardian Life. "We don't come from the life insurance industry," said Sproutt's CEO and Co-Founder Yoav Shaham. Andrew McMahon, Executive Vice President at Guardian Life...
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Diane Reid, 57, of Daytona Beach, is charged with second-degree murder and aggravated neglect of an elderly disabled adult. Circuit Judge Raul Zambrano is presiding over the trial in front of a jury of six men and two women, including two alternates, at the S. James Foxman Justice Center. When Robinson's brother went to prison and could not care for him, Robinson went...
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ST. PETERSBURG, Fla. and COLUMBUS, Ohio, Dec. 9, 2019/ PRNewswire/-- Minor League Baseball™ and Nationwide, one of the largest providers of insurance and financial services products in the U.S., today announced a multiyear partnership making the Columbus- based company the "Official Insurance Partner of Minor League Baseball." "Our partnership with Nationwide presents...
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Pacific Life Insurance Company today announced it has completed the sale of Aviation Capital Group, its commercial aircraft leasing subsidiary, to Tokyo Century Corporation. Tokyo Century is publicly-held and listed on the Tokyo Stock Exchange. Its core lines of business include Equipment Leasing, Mobility& Fleet Management, Specialty Financing, and...
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PHP Leadership Continues to Expand ADDISON, Texas- December 5, 2019-. Robert Kerzner, CLU, ChFC, former President and CEO of LIMRA, LOMA, and LL Global Inc., is joining the PHP Agency Inc. Board of Directors. After graduating from Central Connecticut State University in 1974, Bob joined Hartford Life and set performance records in field sales and management.
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Mark Sievers, 51, was convicted of first-degree murder and conspiracy to commit murder after jurors deliberated for about four hours. His wife, Teresa Sievers, 46, was found bludgeoned to death on the kitchen floor of her family's home on Jarvis Road in Bonita Springs on June 29, 2015. The trial for Mark Sievers will now move into a penalty phase, where it will be...
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Total U.S. individual life insurance new annualized premium increased 2% in the third quarter, compared with 3Q 2018, according to LIMRA. Indexed Universal Life sales climbed 7% for the quarter and the year so far, with half of the companies reporting increases, LIMRA said.
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Foresters Financial is changing its underwriting guidelines across its non-medical life insurance product portfolio so more Americans who use cannabis can qualify for coverage. "We made the decision to modernize our products to stay in step with this evolving trend,” said Matt Berman, chief distribution officer, Foresters.
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--US insurance revenues are forecast to advance 4.3% annually in nominal dollars through 2023, according to Insurance: United States, a report recently released by Freedonia Focus Reports. Population growth and continued expansion in economic activity are projected to drive insurance demand. These and other key insights are featured in Insurance: United...
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While the third quarter is typically a tough quarter for life insurance sales, this year is was "particularly challenging," said Sheryl Moore, president and CEO of Wink, Inc. With state insurance commissioners working to tighten up regulation of illustrations, it might remain a tough market.
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David J. Shelton, 30, was a generous man who was always willing to help others, sister Brittany Shelton said. "He was a sweet, loving guy," Brittany Shelton said. David Shelton would do anything his sister needed for 4- year-old Sophia.
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Nov. 25-- PIKEVILLE-- Kentucky Attorney General Andy Beshear's office ruled last week that Pikeville Independent Schools violated the state's Open Records Act by failing to produce a controversial and secretive life insurance policy awarded to the district's superintendent more than a decade ago. The decision stems from a request filed by school board...
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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...