COVID-19 has created opportunities and prompted conversations that the industry should embrace to close the coverage gap and promote better outcomes for our customers.
While classified as variable annuities, indexed-linked products do not fit into Model 250, which includes the nonforfeiture rules that determine how much money a contract holder can get back if they give up the annuity.
Struggles to put blocks of long-term care insurance sold decades ago on sound financial footing have virtually paralyzed the LTCi industry. Insurers have fled the business and regulators turned against one another. Yet the business remains enticing for some.
Carriers burdened with legacy technologies and outdated manual processes are severely limited by losses due to fraud and operational inefficiencies. Cumbersome application and underwriting processes further restrict revenue growth.
The challenges Americans faced during the last two years have caused many to redefine what is most important to them and rewrite rules to chart a new path. That new journey may require some financial guidance, however.
In my work as a disability insurance wholesaler, I have witnessed countless times when clients applying for DI were unable to purchase a policy because they already had a disqualifying illness or injury.
Following comments from the Federal Reserve Friday, experts interviewed raised the likelihood of rising premiums on annuities and life insurance products as interest rates climb.
Money worries of middle-income Americans are translating into anxieties about insurance, including life insurance, according to the panel at a LinkedIn Live event yesterday.
Insurance fraud costs the US economy a record $308.6 billion annually according to a new comprehensive study by the Coalition Against Insurance Fraud, the first of its kind in more than 25 years.