Live Insurance News

Life insurance is vastly misunderstood among American consumers

January 22, 2013January 22, 2013 H. Cutner

LIMRA has reported that 70 percent of people in the U.S. don’t understand the coverage. In the United States, ownership of life insurance has reached a historical low and a recent LIMRA study has suggested that it is likely because Americans don’t understand why it is needed or how the products in that sector actually work. The global consulting and research organization determined that there is a lack of understanding and knowledge. In order to come up with this claim, LIMRA applied a type of IQ test for life insurance…

Insurance news of Japan’s premiums totals is surprising

December 27, 2012April 30, 2013

Recent estimates show that 18 percent of the worldwide total for life coverage is from Japanese policyholders. The latest insurance news releases in Japan are estimating that the average life insurance premiums are approximately $5,300 (454,300 yen) per year. This is far higher than the global average for the same type of coverage. In fact, this insurance news indicates that Japanese life policyholders pay approximately 18 percent of the global total in premiums, even though the country represents only 2 percent of the worldwide population. The per capita spending, according…

Life insurance unit in U.S. sold by Sun Life Financial

December 20, 2012December 20, 2012 H. Cutner

The sale of this and its American annuity business was made for a reported $1.35 billion. Sun Life Financial has just announced that it has come to an agreement with Delaware Life Holdings to sell its U.S. annuity unit as well as some of its life insurance businesses for a reported $1.35 billion. The buyer is a company that is owned by the Guggenheim Partners group of shareholders. According to president and chief executive officer of the seller, Dean Connor, “This transaction represents a transformational change for Sun Life.” Connor’s…

Insurance news from AIG now includes Chinese joint venture

November 23, 2012November 22, 2012 Julie Campbell

American International Group has announced that it will be working with PICC. The latest insurance news from U.S. insurer American International Group, Inc., is that it will be entering into a joint venture with the life policy business unit of People’s Insurance Co. (Group) of China, Ltd. This may place AIG into a situation where it is competing directly with its former Pan-Asian business unit. This insurance news has been released as the insurer announced that it would be purchasing $500 million worth of PICC shares in that companies up…

Life insurance policies are being cashed in at an increasing rate

November 19, 2012April 30, 2013

The trend is for individuals and families to cash them in to try to help to make ends meet. Statistics have revealed that life insurance policies in Cyprus are a direct reflection of the continuing economic crisis, as 40 percent more policyholders have cashed in their policies during the first half of 2012 in comparison with the same time in 2011. These grim statistics were released by the Insurance Association of Cyprus. From January through June of this year, policyholders cashed in €111 million worth of life insurance, when compared…