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.
Ninety-one percent of investors say it is important that their retirement income plan is designed to provide a guaranteed income payment or principal protection.
Massachusetts does not allow health insurers to pay for medical marijuana, a decision the Supreme Judicial Court reaffirmed last year. A new bill would change that.
American Equity is intent on reclaiming its market share in the FIA market, Bhalla told analysts on today’s third-quarter conference call.
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.
There is an awful lot of stuff packed into that $1 trillion infrastructure bill Congress sent to the president this weekend: big projects to fix roads and bridges, broadband, and even the kitchen sink – or at least the water flowing into it.
One in four employer-sponsored retirement plan participants ages 45 and older reporting that the pandemic has caused them to push back their retirement or prevented them from ever retiring at all.
American workers are concerned about retiring in a market downturn and losing a significant portion of their life savings when they need it the most, a new survey finds.
Johnell Lee Cleveland, aka “Bankroll Johnny,” 40, was charged with one count each of conspiracy to commit wire fraud and wire fraud for separate insurance and unemployment fraud schemes.
American International Group expects to sell its Life & Retirement business during the first quarter of 2022, CEO Peter Zaffino said.
Joe Manchin III said that new regulations giving the IRS information on bank accounts with more than $10,000 in annual deposits or withdrawals would be left out of President Biden’s multitrillion-dollar expansion of the federal safety net.
Medical debt is the largest single cause of bankruptcy in America, according to the National Consumer Law Center (NCLC), and more than half of debtors have medical debt as a part of their bankruptcy filings.
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.
As nearly half of Americans (46%) expect higher health insurance premiums in 2022, some struggle to afford health care costs, a ValuePenguin survey finds.
Blue Cross Blue Shield plans were accused of illegally entering into an agreement not to compete with each other and to restrict competition among themselves.
According to the American Association for Long-Term Care Insurance (AALTCI), the number of individuals who purchased traditional LTCI products declined last year.
American International Group sold a 9.9% equity stake in AIG’s Life & Retirement business to Blackstone for $2.2 billion in an all-cash transaction.
In a year of critical healthcare needs, COVID-19 complicated caregiving, but the factors driving an accelerated need for care were largely the same as in years past, found Genworth’s Caregiving in COVID-19 Beyond Dollars Study 2021.
The fledgling WA Cares program is off to a rocky start.
The pandemic continues to put pressure on businesses’ bottom lines. And part of that equation now includes the risks of having unvaccinated workers. JPMorgan says it will start deducting pay from unvaccinated workers to cover the cost of COVID testing. And that begs the question: How much are unvaccinated workers costing companies?
The Department of Labor is certain to take another crack at establishing a true fiduciary standard, a pair of experts agreed Wednesday.
The pandemic prompted 44.5 million Americans to have first-time discussions about topics such as finances, health and legal plans.
As record numbers of Americans leave their jobs in the ‘Great Resignation,’ a new survey finds health insurance is holding back some workers from joining the wave.
More insurers in the market doesn’t necessarily mean higher quality or lower prices for consumers, because companies may scale back the size of networks to undercut each other on prices.
Payouts — which could be covered in part by insurance held by the production company, Rust Movie Productions — would likely be in the “millions and millions” of dollars.
The Department of Labor will delay full enforcement of its investment advice rule for about six weeks until Jan. 31, 2022, according to a bulletin released Monday afternoon.
The need for an effective sales engagement playbook and sales process is a top challenge in motivating buyers.
Joe Manchin appears to be on board with White House proposals for new taxes on billionaires and certain corporations to help pay for President Joe Biden’ s scaled-back social services and climate change package.
One way to begin financial planning conversations with the younger generations is for financial advisors to connect with their existing client base and encourage parents of college students to put health care documents in place for their children.
In the Investment Advice PTE, effective since Feb. 16, 2021, the DOL announced that most recommendations to make a rollover are considered fiduciary investment advice.
The White House and Democrats are hurriedly reworking key aspects of President Joe Biden’s $2 trillion domestic policy plan, trimming the social services and climate change programs and rethinking new taxes on corporations and the wealthy to pay for a scaled-back package.
Those getting covered would include about one-third of uninsured Black Americans, according to an analysis by the Urban Institute and the Commonwealth Fund, nonpartisan research groups that support the goal of expanding health insurance.
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.
A judge on Wednesday pushed for compromise on potential payouts to people who lost loved ones and those whose units were destroyed in the deadly collapse of a Florida beachfront condominium.
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.
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.
Geoff Cich, director of competitive intelligence with Florida Blue, looked at some trends in the health insurance industry and saw an increasing shift toward government-sponsored business.
Alex Murdaugh was arrested last week on two charges tied to a wrongful death lawsuit filed by family of his former housekeeper, Gloria Satterfield.
Employees (62%) are also very satisfied with their employment-based retirement savings plans. In fact, 60 % of them say that their retirement plans continue to be an anchor of financial well-being, which is a 5% increase from 2020.
Currently, having contracted COVID-19 does not jeopardize applicants’ chance at getting a life insurance policy, nor does it directly affect their rates, but that leniency could change soon.
The self-described “Annuity King” escalated his battle with federal authorities with a lawsuit alleging “rogue, out-of-control, above-the-law” conduct by agents who investigated him.
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.
Over the last 10 years, the Social Security COLA has averaged about 1.7% annually as inflation remained low.
Almost half of American workers said their financial situation has been negatively impacted by the COVID-19 pandemic, but that impact varies among the four generations who are in the workforce.
The president of the Ford Foundation called for a national mobilization of private capital and public policy to invest in underserved communities and help close the racial wealth gap.
The hybrid workplace is here to stay. Workers want it but leaders fear it. A speaker discussed the common fears that leaders have about flexible work during the American Council of Life Insurers annual conference.
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.
According to the survey, Americans’ top priority for retirement is maintaining a comfortable lifestyle, with just under half of respondents (45%) saying it is most important to them.
A default could be devastating to the American economy, which is still struggling from the pandemic shutdowns, and trigger a recession.
Thinking holistically about your clients’ retirement security and developing and executing a strategy aligned with their goals may help free them to enjoy one of the most rewarding times of their life.
A Washington state Superior Court judge granted a narrow ruling Friday in favor of the insurance industry’s argument against Insurance Commissioner Mike Kreidler’s emergency rule temporarily banning the insurers’ use of credit scoring.
With 95% of its employees working remotely during the pandemic, insurance giant Allstate is selling its longtime Northbrook, Ill. headquarters.
The insurance benefit, dubbed the WA Cares Fund, is a first-in-nation public insurance program aimed at helping older residents age in their own homes. The plan, signed into law in 2019 through the Long Term Care Trust Act, will use a 0.58% payroll tax to pay benefits.
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.
Eighteen former NBA players have been charged with defrauding the league’s health and welfare benefit plan out of about $4 million, according to an indictment Thursday in New York.
Most employees expect their workplace benefits to play a larger role in their future job selection (68%) and in their household financial decisions (61%), according to a survey by Voya Financial.