China launches new life insurance products regulations

china newspaper mobile life insurance products

The country’s official regulator has established new rules to slow the growth of short- and mid-term products. Short- and mid-term life insurance products are now subject to new rules in China. These were shared on an official website notice from the Chinese industry regulator, the China Insurance Regulatory Commission (CIRC). CIRC has been working to be able to reduce the risk associated with the investment into these products. The CIRC’s concern is that if investments are made into stocks and long term assets using funds based on short-term life insurance,…

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Disability insurance to cover new San Diego hires

Disability Insurance

The city has stated that it is likely to provide this coverage, as well as death policies to new workers. The mayor’s office in San Diego has revealed that the city will soon be issuing a proposal request in order to be able to obtain death and disability insurance that will be offered to its newly hired employees. It is expected that the request for the proposals will be made within the next few months. This change in the death and disability coverage for the workers hired by the city…

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Life insurance policy beneficiaries can help to ensure they receive their due

New York Homeowners Insurance Rules

There are ways for people to find a deceased person’s coverage even when no record was left. Beneficiaries of life insurance policies have struggled with the ability to collect the payout from the coverage when their deceased loved one has failed to leave any record of the insurer or any other identifying information. Though recent crackdowns have encouraged insurers to make a larger effort, beneficiaries can do their part. There is no central database that a beneficiary can call in order to find out what life insurance company sold the…

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Life insurance maintains its importance in families with dependents

Life Insurance buying tips

The protection provided by this coverage is still an important element of financial planning. Despite the changes in the life insurance industry and the economy that continues to struggle, the coverage is maintaining its value for families that depend on the income of the policyholder. These policies provide families with a way to replace income that suddenly ceases if the earner should die. In order to take full advantage of life insurance, families should discuss the topic and make certain that they choose the form of the coverage that is…

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Chartis to cancel 3,000 insurance policies for Australian soldiers in Afghanistan

Chartis Insurance, an international insurance group based in the U.S., has announced that it will be canceling the death and disability insurance policies of some 3,000 Australian soldiers serving in Afghanistan. The move is spurred by a shrinking insurance pool and a high rate of cancellations and payouts on claims. The company, which is a subsidiary of AIG, claims that the cancellations were necessary in order to continue providing benefits for holders of health policies. The problem, however, is that the Australian government is now left to handle the cost…

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Funeral insurance can help in a very difficult time

Many people consider funeral insurance, also referred to as burial insurance, to be much more expense than they will ever be worth, however, in a time when employment is unsecure, income is low, and savings have already withered to compensate for struggles during the global economic crisis, this protection can provide much needed assistance at a difficult time when no other help is available. Budgets in counties and states are rapidly shrinking, and while low-income individuals who could once turn to them for assistance if they found themselves facing the…

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Nationwide answers probing questions in Florida

Representatives from Nationwide Mutual Insurance where called upon by Florida officials to testify on how insurers handle life insurance payouts in the state. Several of the state’s insurance companies have been the target of controversy lately after being accused by regulators of holding back payouts. Allegedly, these companies withhold funds despite having full knowledge that a policyholder has passed away. According to regulators, these funds may be being held in safekeeping until they are designated as unclaimed, at which point the insurer is no longer liable for payouts. Nationwide assured…

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