As COVID-19 travel restrictions ease, the future of association events will be a combination of in-person and virtual, said Kenneth E. Bentsen Jr., president and CEO of the Securities Industry and Financial Markets Association.
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The U.S. life insurance industry recorded its largest year-over-year increase in direct and net death benefits in at least 24 years as excess mortality due to COVID-19 triggered an unusual volume of claims during 2020, S&P Global Market Intelligence reported.
The MIB Life Index reported first-quarter life insurance application activity showed its highest year-over-year, year-to-date and quarter-over-quarter growth since before 2018.
Among group life claimants, mortality rates were up 14% between January and April 2020, said Steve Rulis, vice president and group actuary with Munich Re, with mortality rates spiking during the months of April, November and December.
In a 2017 LIMRA survey, 50% of companies that responded said they were using automated underwriting. In a similar survey in 2019, 62% of carriers said they used automated underwriting while 64% said they were using accelerated underwriting.
John Hancock includes with each life insurance policy access to the Vitality program, a technology-based wellness program that rewards healthy habits. It’s a side of life insurance not often expressed — a light, even fun, and rewarding side.
Eligible people can apply to recover up to $9,000 of qualifying funeral or burial expenses incurred after Jan. 20, 2020. “At FEMA, our mission is to help people before, during and after disasters,” acting FEMA Administrator Bob Fenton said in a prepared statement. To file a claim, you need to call a toll-free hotline set up by FEMA.
AUSTIN, TX – April 13, 2021 – Pensionmark Financial Group and Lion Street, Inc have entered a partnership focused on…
Even with increased interest, there are 102 million uninsured and underinsured Americans who believe they need to buy life insurance or to increase their coverage. This represents 40% the adult population. The question is why don’t they buy?
Police say Jimmy Lee Murphy, 32, took out a $650,000 life insurance policy on his wife weeks before her death. Whitney Murphy, 26, was killed by gunshot in October 2014.
Eligible people can apply to recover up to $9,000 of qualifying funeral or burial expenses incurred after Jan. 20, 2020. “At FEMA, our mission is to help people before, during and after disasters,” acting FEMA Administrator Bob Fenton said in a prepared statement. To file a claim, you need to call a toll-free hotline set up by FEMA.
Diversity is more than simply bringing more people of color into an organization, Derrik Anderson, executive director of Race Matters, said during this week’s NAIFA Diversity, Equity and Inclusion Impact Week.
The Florida Supreme Court will hear a constitutional challenge to a 2016 state law that put new requirements on life-insurance companies to determine whether policyholders have died and to contact beneficiaries.
The life insurance industry has an opportunity to invest in underserved communities while helping remove some of the barriers to those who seek employment in the industry, executives from the American Council of Life Insurers said.
The bottom line in making your company a place where women can succeed and thrive is to ask yourself whether it is a place you would want your mother, your wife or your daughter to work.
The Virginia-based insurance giant said Tuesday it has terminated its merger agreement with China Oceanwide Holdings Group Co. Ltd., a Beijing-based company that agreed in October 2016 to buy Genworth for about $2.7 billion, or $5.43 per share in cash.
A Houston woman took out two life insurance policies on her 6-year-old son before giving him lethal doses of medications and over the counter drugs that caused him frightening hallucinations before he died, prosecutors said.
John Hancock, the US division of Toronto-based Manulife, announced a new protection variable universal life insurance product, Protection VUL, is now available for sale from all approved distribution partners.
Shane Westhoelter was in his early 20s, selling life insurance policies with $5,000 and $10,000 death amounts door to door in a small town when he found his “why.”
ARLINGTON, Va. and WINDSOR, Conn., March 23, 2021 – Nearly one third of consumers (31%) say COVID-19 has made it more…
Ohio National executives today announced an expansive reorganization plan to demutualize the company. The deal includes the conversion of Ohio National Mutual Holdings to a stock company and the issuance of all of its newly issued stock to Constellation Insurance Holdings.
Like other companies, Securian sent employees home to work remotely, technology investments made the shift easier and streamlining some processes helped them better serve customers. The pandemic meant Securian paid out $275 million in COVID-related life insurance benefits to customers, about 8% of the claims it paid in 2020.
THE FACTS: Life insurance policies have not changed because of the COVID-19 vaccination and getting the shot will not impact whether a policy pays out in the event of death, according to the American Council of Life Insurers. The U.S. Food and Drug Administration has given emergency use authorization to three COVID-19 vaccines after finding them safe and…
If Chubb absorbs Hartford in the $23 billion deal, it will mark the final stage for a company known to many over the decades as The Hartford, a favorite across the life insurance and property/casualty markets.
Up to 16 million people in the United States may have had undiagnosed, asymptomatic COVID-19 as of September 2020– twice as many as previously estimated– an analysis of life insurance applicants published Tuesday by JAMA Network Open reported. J
In the fourth quarter, total life insurance new premium dropped 8%, compared with the record-breaking sales results in fourth quarter 2019. Total policy sales were up 2% in the fourth quarter, according to LIMRA’s U.S. Individual Retail Life Insurance Sales Survey.
It is available to Foresters over 75,000 producers across the U.S. through the Apple App Store ® and the Google Play Store.. Matt Berman, President of Foresters Financial's U.S. business, said, “Foresters is a nearly 150- year-old member-based organization dedicated to the well-being of everyday families, which is quietly disrupting life insurance.
The American Council of Life Insurers issued the following statement:. American Council of Life Insurers Senior Vice President, Policy Development Paul Graham issued the following statement on social media misinformation relating to COVID-19 vaccines:. “A social media post appears to be behind the spread of entirely false information, suggesting a…
Ali F. Elmezayen, 45, was found guilty of four counts of mail fraud, four counts of wire fraud, one count of aggravated identity theft, and five counts of money laundering. District Judge John Walter sentenced him to 212 years in prison and denounced what he called the “vicious and callous nature of his crimes.”
GOP senators reintroduced the Death Tax Repeal Act of 2021 Tuesday, while Rep. Jason Smith, R-Mo., introduced companion legislation in the House of Representatives. Republicans have persistently introduced legislation to repeal the estate tax, without success.
Falls Church, VA (March 4, 2021) — Kevin Mayeux, CEO of the National Association of Insurance and Financial Advisors (NAIFA),…
CLEARWATER, Fla., March 2, 2021 — AmeriLife Group, a national leader in developing, marketing, and distributing annuity, life, and health…
–Ameritas and NAIFA are teaming to advance the careers of rising stars in the financial services industry. This program engages the next generation of industry leaders and supports their development as a voice for our clients at the state and national levels, “said Kevin Mayeux, NAIFA Chief Executive Officer. Membership: Complimentary NAIFA membership…
–A new report by Vertafore on the state of the independent insurance channel workforce brings into sharp relief how the pandemic changed the nature of work in the industry, what insurance professionals value about their work and what independent agencies can do to support their people now and attract new talent in the future.
WASHINGTON, March 2– The National Association of Insurance Commissioners issued the following news release on March 1, 2021:. The National Association of Insurance Commissioners released data today on life/fraternal and property/casualty insurers. *Total reported premiums for life insurance, including annuity considerations, deposit-type contract…
The Guardian Life Insurance Company of America announced an alliance with Protective Life Insurance Company to make Protective Lifetime Assurance Universal Life available through Guardian’s financial representatives. “Our relationship with Protective Life Insurance Company expands our product portfolio and allows us to help more clients.”
“An analysis of Mr.[Darrin] Lopez’s cell phone, seized after his arrest on Jan. 11, revealed that Ms. [Jennifer] Faith and Mr. Lopez were intimately involved. Ms. Faith used her cell phone to update Mr. Lopez on her efforts to collect on Mr. Faith’s life insurance policy and to coach Mr. Lopez on how to respond to potential police questioning.”
COVID-19 forced insurance companies to take a new approach in how they deal with diversity and inclusion in their workforce, a panel said during a NAILBA discussion.
LOUIS— Federal prosecutors on Friday announced they won't seek the death penalty against a third person accused of conspiring to kill Andre Montgomery Jr., the grandson of the owner of Sweetie Pie's restaurants. Friday's court filing, regarding Travell Anthony Hill, is the result of a mandatory review process triggered when certain federal charges are filed.
A 130-year-old industry association is looking ahead to the next five years by looking at ways to increase its diversity, foster the growth of the next generation of advisors and raising awareness of financial services as an appealing career among students.
Northwestern Mutual announced 2020 results today, reporting new records in seven key measures: revenue, total surplus, total company assets, client investment assets, total dividend payout, new clients and new financial professionals.
Consumer priorities have changed significantly as a result of the COVID-19 pandemic, with nearly half (45%) of consumers surveyed planning to save more and those most impacted financially seeking to mitigate future financial uncertainty.
U.S. Mortgage Insurance 2020 Full Year Adjusted Operating Income Of $381 Million; Record New Insurance Written U.S. MI's PMIERs1 Sufficiency Ratio Estimated At 137 Percent, $1,229 Million Above Published Requirements Annual U.S. GAAP Assumption Review Completed For U.S. Life Insurance: Net Favorable Impacts Of $13 Million After-Tax In Long Term Care…
KING OF PRUSSIA, PA – February 11, 2020 – George Nichols III, President and CEO at The American College of…
Radnor, Pa., Feb. 9, 2021 – The pandemic continues to create financial challenges for all Americans, but research from Lincoln…
According to court documents, Biegler represented Montana Premier Insurance LLC at 1184 Daybreak in Helena prior to Dec. 19, 2019. That business was dissolved in December 2019 for failure to file an annual report, and on Feb. 5, 2020 Biegler formed Montana Premier Insurance and Consulting LLC at the same business address. According to court documents, Biegler…
PARK RIDGE, Ill. (Feb. 9, 2021) — Throughout its nearly 100-year history, MDRT has evolved alongside the financial services profession,…
Life insurance application activity continues to grow at a steady pace early in 2021, with year-over-year activity up 3.9%, according to the January MIB Life Index. Growth was largely driven by the 31-50 age group, up 8.5%, MIP reported, while older age groups age 61+ declined year over year.
Under the terms of the settlement, Northwestern Mutual will pay a $287,000 administrative penalty and will be required to report quarterly to the Department on its claims payments for the next two years.
Life stages offer different challenges and rewards whether you're starting out on your own, raising a family, focusing on your career or preparing for a rewarding retirement. However, while each stage may be unique, it's important to make sure your loved ones are cared for financially along the way. Surprisingly, it's when you're young and at your healthiest that…
A recent survey of over 100 health/life insurance experts found that 59% of industry professionals believe that there is a major move online for consumers for the insurance purchase process for personal products like life, health, and property& casualty insurance.
Lawyer Desmond H. Staple died March 16, 2016. According to news reports, he was found unresponsive in his car in a Walmart parking lot in Hillsborough County. The medical examiner found large quantities of acetaminophen and aspirin in his blood stream.
Arlington, Va. — Nearly six in 10 (59%) Americans are planning to make “carpe diem” their new mantra after the…
The COVID-19 epidemic highlighted the need for life insurance and illuminated the gap of uninsured and underinsured American families, a longstanding problem illustrated by LIMRA research.
State Farm made a January 2020 move that would power the insurer through a turbulent year: It rekindled its iconic tagline, “Like a Good Neighbor, State Farm Is There.” The 49-year-old line is among the most recognizable phrases in advertising, said Ad Age, which named State Farm a 2020 Marketer of the Year.
The COVID-19 pandemic is motivating large numbers of people to seek life insurance coverage for their families. Faster underwriting and direct-to-consumer channels also helped Principal boost its life insurance count, CEO Dan Houston said.
The National Association of Insurance and Financial Advisors announced that Jack E. Bobo, CLU, FLMI, passed away on January 15,…
The Allstate Corporation has agreed to sell Allstate Life Insurance Company (ALIC) to entities managed by Blackstone for $2.8 billion.
The lawsuit focuses on universal life insurance policies issued by Security Life under names such as Strategic Accumulator Universal Life. The policies include a separate COI charge deducted monthly and meant to compensate Security Life for its mortality risk, the lawsuit noted.
Although the Consolidated Appropriations Act was largely a spending and stimulus relief bill, it also contained a provision that changed the determination of a minimum interest rate used in certain tax-related calculations for life insurance contracts.
