Robert S. Gianelli, Los Angeles Insurance Attorney. When he missed his November 2020 payment due to ill health, Banner Life applied the wrong grace period, failed to give the required notice, and canceled his policy in violation of California law. "–Robert S. Gianelli LOS ANGELES, CALIFORNIA, UNITED STATES, December 6, 2021/ EINPresswire.com/– On November 30, 2021, the…
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Policygenius data shows life insurance consumers have not been impacted by economic volatility caused by the new COVID-19 variant. All demographics saw a nominal decrease in pricing, with 25-year-old males seeking $250,000 in coverage seeing the biggest decrease.
Wink, Inc., the competitive intelligence firm specialized in providing life insurance and annuity product data to the industry, announced Victoria…
The 2022 outlook for the U.S. life insurance sector is stable, reflecting the ongoing, although slower pace of recovery for the economy, Moody’s Investors Service said in a new report.
Total life insurance new annualized premium grew 18% in the third quarter, representing the third consecutive quarter of double-digit growth, according to LIMRA.
Satterfield, 57, served as the long-time housekeeper for the family of now-disgraced attorney Alex Murdaugh, who was arrested Sept. 14 on charges of insurance fraud, conspiracy to commit insurance fraud and filing a false police report. "My housekeeper has fallen and her head is bleeding," Maggie Murdaugh told the 911 operator shortly before 9:30 a.m. "I cannot…
Texas police say a man went to “great lengths” to cover up the murder of his wife just days after she signed a six-figure life insurance policy.
2021 NOV 22– By a News Reporter-Staff News Editor at CDC& FDA Daily– The Covid-19 pandemic hit life-annuity insurers on both sides of their operations in 2020. “In 2020, life insurers saw the largest decrease in gross book yield since 2009,” said Mary Pat Campbell, a Vice President, Insurance Research at Conning.“ Some of this drop was driven by impairments on bonds, as…
New York Life, America's largest 1 and most admired 2 mutual life insurer, today announced that the company’ s Board of Directors has named Craig DeSanto CEO-elect of New York Life. Mr. DeSanto will assume the chief executive position upon the retirement of Mr. Mathas on April 15, 2022. Mr. DeSanto joined New York Life in 1997 as an actuarial summer intern and was…
Policies have generally remained the same, but there are some key differences worth discussing.
Dear Savvy Senior: When my dad died, we thought he had a life insurance policy, but we have no idea how to track it down. Dear Searching: Lost or forgotten life insurance policies are very common in the U.S. According to a study by Consumer Reports, 1 out of every 600 people is the beneficiary of an unclaimed life insurance policy with an average benefit of $2,000.
COLUMBIA- Defense attorneys for Alex Murdaugh have asked the state Supreme Court to overrule a lower judge and release their client from jail as he awaits trial on fraud and theft charges. The Nov. 10 filing from Columbia lawyers Dick Harpootlian and Jim Griffin comes a day after Circuit Judge Clifton Newman declined- for the second time- to release Murdaugh on…
Alex Murdaugh faces criminal charges of embezzling $3.3 million from the estate of his late housekeeper and insurance fraud in connection with staging a fake suicide.
Nov. 9— On the day of Alex Murdaugh's Sept. 16 bond hearing in an alleged botched murder case, three bonds for Murdaugh appeared online hours before the Hampton County hearing even started. The Murdaugh family controlled the five-county solicitor's office from Hampton County for 85 years, prosecuting thousands of individuals who passed through the Hampton…
U.S. life insurance application activity was flat in October 2021 compared to October 2020, according to the MIB Life Index,…
The combination of a lingering pandemic and a new federal tax code change that makes it possible for policyholders to build more cash value in their plans has driven a surge in consumer interest in life insurance policies.
Annuities reported income from operations of $338 million, up 72% compared to the prior-year quarter, and total deposits hit $2.7 billion.
–KoverNow, an insurtech start-up company based in Singapore, offering mobile consumer insurance services via its app, has released new research into millennial purchasing and risk attitudes to insurance. The survey, of over 500 millennials of the estimated 1.5 million living in Singapore, shows that their attitudes to risk and purchasing insurance services…
_ MetLife Inc. on Wednesday reported third-quarter net income of $1.58 billion. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.66 per share. This story was generated by Automated Insights using data from Zacks Investment Research.
Prudential executives said individual life sales continued to be strong with higher variable life sales compared to the year-ago quarter, offset by lower sales of other policies.
owl.co Labs, Inc., an insurance claims monitoring platform, today announced that it secured $30 million in Series-B funding to accelerate the company's growth. Cota Capital led the financing, joined by Sorenson Ventures, FUSE, Impression Ventures, Luge Capital, and Plug and Play Ventures. owl.co will utilize the funding to scale its insurance claims monitoring…
Nov. 2— Suspended South Carolina attorney Alex Murdaugh's cash and assets will be frozen and controlled by court-appointed overseers, according to an S.C. judge's order. "After careful consideration, Plaintiff's Motion for Temporary Injunction and Appointment of Co-Receivers and Co-Receivers' Counsel is granted," wrote state Judge Dan Hall in an…
–Kansas City Life Insurance Company announced today that it has sold Sunset Life Insurance Company of America, Inc., a wholly-owned subsidiary, to Bona Holdings, LLC, effective on November 1, 2021. Kansas City Life reinsured 100% of the outstanding business of Sunset Life on December 31, 2020, and will continue to service all business issued prior to November 1,…
According to the J.D. Power 2021 U.S. Group Life Insurance Study, released today, satisfaction with group life insurance trails two-thirds of other U.S. service industries evaluated by J.D. Power.
The Hague, November 2, 2021- Aegon announces today that it has committed to transition its EUR 156 billion general account investment portfolio to net-zero greenhouse gas emissions by 2050. In this context, Aegon will join the Net-Zero Asset Owner Alliance, a UN- convened group of institutional investors committed to transitioning their portfolios to…
The Allstate Corporation today announced that it has closed the sale of Allstate Life Insurance Company and certain subsidiaries to entities managed by Blackstone for total proceeds of $4 billion, which is inclusive of Blackstone’ s approximately $2.8 billion purchase price, as well as increases in statutory surplus since March 31, 2020.
–The Penn Mutual Life Insurance Company, a Fortune 1000 company, announces the introduction of two whole life insurance products that bolster its industry-leading portfolio. Guaranteed Whole Life II and Survivorship Whole Life provide guaranteed benefits and flexibility backed by more than 170 years of financial strength and consistent dividend…
Prudential Financial, Inc. today announced its commitment to achieve net zero emissions across its primary domestic and international home office operations by 2050. These actions are aligned with the latest climate science of limiting global warming to 1.5 degrees Celsius or lower, as specified in the Paris climate accord. The company’ s home office…
–During a time of continued economic uncertainty, Northwestern Mutual has maintained its unquestionable long-term financial strength and stability, and today announced that its policyowners will receive an estimated $6.5 billion in dividends next year. The 2022 payout will mark both a new record for Northwestern Mutual and 150 consecutive years of the…
The former law firm of suspended South Carolina attorney Alex Murdaugh has reached a confidential settlement with the heirs of Murdaugh’ s deceased housekeeper. The settlement arises from a now-exposed, alleged scheme by Alex Murdaugh and two friends, attorney Cory Fleming and banker Chad Westendorf, to siphon $4.3 million from Satterfield’ s estate to…
The acquisition of a medical record, a crucial part of life underwriting risk-assessment, largely remains largely an inefficient paper process.
COLUMBIA, S.C.— A judge denied bond Tuesday for a prominent South Carolina attorney who has become embroiled in two multimillion-dollar insurance fraud cases months after he found his wife and son dead in their home. Defense attorneys asked Circuit Judge Clifton Newman to release Murdaugh on his own recognizance, as a different judge had in September on…
Nearly 4 in 10 executives said technology was their company’s greatest internal challenge — twice as many as in 2019 when the survey was last conducted.
Whether it’s casually asking a client about their parents or children, or it’s crafting an investment portfolio that incorporates an indexed universal life policy, an advisor who has paid more than $1 billion in death benefits presented nine ideas to build your practice.
The California Supreme Court recently ruled that statutes making it harder for an insurer to cancel a policy for nonpayment of premiums apply to retroactively to policies.
Industry panelists share their thoughts on how to make the buying process seamless, relevant and personalized.
The Walterboro man who stands accused of shooting Alex Murdaugh in a botched assisted suicide scheme appeared on a pair of national morning shows Oct. 14 and asserted that the disgraced attorney was never shot at all. Curtis Edward Smith, a 61- year-old former law client of Murdaugh's, told NBC's "Today" news anchor Craig Melvin he refused Murdaugh's request to…
Millennials are willing to buy life insurance, but they want contactless communication that is quick and easy, said a speaker during this week’s Society of Insurance Research conference.
Alex Murdaugh was arrested last week on two charges tied to a wrongful death lawsuit filed by family of his former housekeeper, Gloria Satterfield.
-Foresters Financial, the fraternal life insurer recognized by its commitment to enrich family and community well-being, reported 37% year-over-year growth in U.S. life insurance sales in the first three quarters of 2021. "The Foresters commitment to a full suite of non-face-to-face, simplified issue life insurance proved an indispensable asset to agents…
One reason is the impact on Social Security income. Many people believe that because of Social Security survivor benefits, a surviving spouse would not lose any income; this is not true. A surviving spouse is eligible for Social Security survivor options.
Prominent South Carolina attorney Alex Murdaugh was arrested Thursday for his connection with missing settlement funds in the wrongful death lawsuit involving his former housekeeper.
In Arizona, a team of attorneys representing 142 plaintiffs filed a lengthy “statement of facts” in federal bankruptcy court alleging that Shurwest executives were aware of an lucrative IUL sales fraud.
-Former logger and handyman Curtis Smith is telling his side of a botched suicide-for-hire scheme that allegedly involved prominent South Carolina lawyer Alex Murdaugh. In a new report by The New York Times, Smith pits himself against Alex Murdaugh. Reporter Riley Benson from NewsNation affiliate WCBD in Charleston, South Carolina, says there have been…
The life insurance sector remains a highly rated sector, a panel from S&P Global Ratings agreed. Ninety-two percent of companies are rated A or higher, and 93% have a stable outlook.
The American Council of Life Insurers elected its chair, officers and board of directors Monday at the 2021 ACLI Annual Conference.
Harrisburg, PA. (Oct. 11, 2021) — Crump Life Insurance Services today announced that Michael Martini has been named president of…
COLUMBIA, S.C.- The South Carolina Supreme Court on Friday temporarily suspended the law license of an attorney who was a college friend of Alex Murdaugh and has been sued over his work on the disputed estate of Murdaugh's housekeeper. A different lawsuit said Cory Fleming didn't reveal his ties when Murdaugh recommended him to represent a man on board a boat…
Cigna Corp. has struck a $5.75 billion deal to sell its life, accident and supplemental businesses to Swiss insurer Chubb Ltd. Chubb will acquire the Cigna businesses in Hong Kong, Indonesia, Korea, New Zealand, Taiwan and Thailand and Cigna’ s interest in a joint venture in Turkey.
A prolific pension fraud scheme that spread to the insurance industry before being shut down by federal investigators has led to dozens of lawsuits and Chapter 11 bankruptcy for an Arizona IMO.
Non-variable universal life sales for the second quarter were $779.2 million, up 19.9% when compared to the first quarter, Wink reports.
KKR, a leading global investment firm, today announced the release of“ Dream Big,” a new Insights piece by Henry McVey, Head of Global Macro and Asset Allocation and CIO of KKR’ s Balance Sheet. Based on a proprietary survey of 50 Chief Investment Officers who oversee nearly $7 trillion in assets under management, the report examines how leading insurance industry…
HORSHAM, Pa., Sept. 28, 2021/ PRNewswire/- The Penn Mutual Life Insurance Company announced today that, effective January 1, 2022, David O'Malley will serve as the company's president and chief executive officer as part of a planned succession process. During this time, The Penn Mutual Life Insurance Company moved into the Fortune 1000 and is currently ranked 649 on…
Demand is staying strong for permanent life insurance in career military families, according to the latest findings of the First Command Financial Behaviors Index ®. First Command's 11th annual life insurance survey reveals that 80 percent of middle-class military families own some form of permanent life coverage. “Military families continue to show…
Ohio National announced new pricing today for its term life insurance, resulting in lower premiums across the product range.
Company to acquire IGE Private Limited and Elpro International Limited combined shareholding of 15.27%. MUMBAI, India& NEW YORK—- MetLife International Holdings, LLC has entered into a share purchase agreement with IGE Private Limited and Elpro International Limited to acquire their total combined shareholding of 15.27% in PNB MetLife India Insurance…
The sons of a former housekeeper for the prominent Murdaugh family will be paid some of $4.3 million in settlements collected after their mother's mysterious 2018 death, their attorney wrote on Oct. 3. Cory Fleming and his law firm, Moss, Kuhn and Fleming, will pay the sons all legal fees and expenses the firm received from settlements connected to claims asserted…
The persistent low interest rate environment over the past few years prompted the deal, Allianz said in a news release.
The lawyer for the man accused of shooting Alex Murdaugh in a failed insurance fraud scheme says his client is being used as the fall guy.
Allianz SE is working on a deal to offload a large block of U.S. life insurance policies in a move that reportedly could be announced in the coming days.
