Alfredo Casas, 62, allegedly underreported payroll for his farm labor contracting business by over $1 million, resulting in a substantial loss to two insurance companies.
Women with children under 18 expressed the highest levels of financial stress at 50%, followed by non-retirees who were not working (44%), those under age 50 (42%), and those with household incomes under $50,000 (42%).
Total life insurance new annualized premium grew 18% in the third quarter, representing the third consecutive quarter of double-digit growth, according to LIMRA.
Third-quarter sales for all deferred annuities totaled $59.8 billion, a decrease of 7.1% compared to 2Q and an increase of 10.4% when compared to 3Q 2020, Wink reports.
Total U.S. annuity sales were $62.3 billion in the third quarter, up 12% from third quarter 2020. Year-to-date, annuity sales increased 19% to $191.4 billion, according to results from the Secure Retirement Institute.
Insurance Commissioner Ricardo Lara ordered insurance companies to preserve 209,881 residential property insurance policies held by wildfire survivors included in an October 22 emergency declaration.
Sales of fixed and variable annuities were $60 billion in the second quarter of 2021, up 6% from first quarter 2021 sales of $56.7 billion, according to the Insured Retirement Institute.
A joint investigation conducted by the Michigan Department of Insurance and Financial Services (DIFS) and the Ogemaw County Sheriff’s Office has led to insurance fraud and identity theft charges against 14 individuals for allegedly submitting nearly $3 million in false insurance claims.
Total second quarter sales for all deferred annuities were $64.4 billion, up more than 10% compared to the previous quarter and an increase of 40.4% when compared to the second quarter 2020.
A Methuen, Mass. woman, who was the former business manager at a Lawrence, Mass. retirement home and nursing center, has pleaded guilty and been sentenced to a serve a year and a half in state prison in connection with stealing more than $530,000 from the facility and the estate of a deceased resident at the home.
In addition to the creation of the special enrollment period, health coverage access was also expanded in Michigan through tax subsidies offered under the American Rescue Plan (ARP).