Live Insurance News

Life insurance study shows satisfied claimants

June 14, 2013June 12, 2013 G. Turner

The results of a recent study have revealed that 95 percent of the people who have made claims are satisfied. According to the outcome of a recent LIMRA survey, additional services offered by life insurance companies, such as coverage coordination and grief counseling are generating a larger amount of business, boosting recommendations, and are enhancing the positive perception of claimants. The study showed that among the beneficiaries of the policies, the vast majority are quite satisfied with the experience. The LIMRA research indicated that 95 percent of life insurance beneficiaries…

Life insurance law in Vermont drives insurers to pay

June 6, 2013June 4, 2013 Julie Campbell

Companies in the state were not adequately seeking beneficiaries are now paying out. Auditors in Vermont have determined that many of the life insurance companies in the state were not being adequately aggressive to seek out the beneficiaries of policyholders that had died, and steps have now been taken to remedy that trend. This has meant that many beneficiaries were not receiving the payments that were due to them. A number of large life insurance companies in Vermont, such as Lincoln Financial, Prudential, and AIG, have each reached settlements with…

Life insurance industry seeks to dissuade tax reform

April 13, 2013April 11, 2013 Logan B.

Life insurance representatives flock to DC to defend tax incentives Insurance executives and advisers, many of whom are represented by the National Association of Insurance and Financial Advisers, are flocking to Washington D.C. this week in order to warn federal lawmakers not to make changes to the preferential tax incentives that are offered to the life insurance industry. The life insurance sector in the U.S. has received these tax incentives, in one form or another, for the better part of a century, but financial concerns and the problematic performance of the…

Life insurance companies are the focus of a new law in Montana

April 2, 2013April 30, 2013

A new bill has just been signed by the state governor that requires firms to search for beneficiaries. Governor Steve Bullock has just signed a new Montana bill that will require that life insurance companies always search for policy beneficiaries when the policyholder has died. This is the case even when there have not been any claims submitted following the policyholder’s death. The bill was created as a response to a number of settlement agreements that have been made across the country in which life insurance companies had been charged…

Life insurance industry may be in for a rough future

November 29, 2012November 27, 2012 Dan

Life insurance industry must adapt to change or it will fail The life insurance industry is facing a changing landscape, new risks, and emerging trends that could have a drastic effect on business. A new report from PwC US, an industry-focused consulting firm, suggests that life insurance companies will need to adapt to these changes if they wish to survive the next decade. The report, titled “Life Insurance 2020: Competing for the Future,” highlights several of the emerging factors that could have major influence over the life insurance industry. Report…