Senate Report Reveals Tax Loopholes in Special Life Insurance Plans

Angela Linders
life insurance

In an era when tax strategies of the rich and powerful are under increasing scrutiny, a recent Senate report featured in The Washington Post, has shone a stark light on the life insurance market — not for its widely acknowledged benefits, but for its exploitation as a tax shelter by America’s wealthiest. The traditional purposes of life insurance, including estate planning and providing non-taxable benefits to heirs, are well-understood. Yet, as the Senate Finance Committee revealed, a niche offering known as Private Placement Life Insurance (PPLI) propels these advantages into…

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Distracted drivers are a serious safety problem in the US

Nordstrom
Distracted drivers - US Flag

Thousands of people die due to collisions caused by motorists who weren’t paying attention. Distracted drivers are all over American roads, and according to the most recent data from the National Highway Traffic Safety Administration, thousands of people are dying because motorists are paying attention to phones, smartwatches, radios, food, makeup application and other factors aside from the road in front of them. The latest data shows that about 3,500 people died in the US in 2021 because of motorist distraction. Last October, Mercury Insurance held a survey to investigate…

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Allstate Changes Down Payment After Insurance Settlement

Logan B.
allstate downpayment reinstated

Allstate, the insurance giant based in Northbrook, Illinois, has made a significant change to its down payment policy for new auto insurance policies. The move comes after a settlement with the California Department of Insurance regarding the insurer’s rate increase application. The Former Down Payment Restriction In July 2022, Allstate began requiring consumers to pay a 50% down payment on new auto policies. This policy represented a substantial upfront cost for consumers, given that the average annual cost for car insurance in California ranges from $1,500 to $1,999, according to…

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New Jersey to require e-bike insurance and registration for all riders

Julie Campbell
e-bike insurance - New Jersey Road Sign

A pending new bill will mean that all riders must carry liability coverage on public roads A new bill is pending in New Jersey that would mean that e-bike insurance and registration will be a requirement for all riders. This will be a new requirement, as riders of those vehicles have, until now, been treated similarly to bicycle riders. An electric bicycle is being newly defined The bill will mean that riders will be required to register their vehicles and carry e-bike insurance in the form of liability coverage. This…

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New Louisiana Law Requires Insurers to Cover Smoking Cessation Treatments

Angela Linders
Lousiana Health Insurance News

Louisiana has taken a bold step in promoting public health with a groundbreaking new law. According to this report, the aforementioned law mandates health insurance coverage for six months of smoking cessation treatment. Historically, the state has been lagging behind in terms of providing tobacco cessation treatments and removing barriers to accessing treatments. In its 2023 State of Tobacco Control report, the American Lung Association scored Louisiana an “F” in funding for tobacco prevention and cessation and a “D” in access to cessation services. What this law means for Louisianan…

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