Tag: life insurance coverage

American life insurance policy trends have shifted since the pandemic crisis began

H. Cutner
Life insurance policy trends - man looking thoughtful at laptop

US adults are taking this coverage more seriously and have been considering it more frequently. The pandemic crisis has forced millions of Americans to consider their finances and their mortality, creating a striking shift in life insurance policy trends across the country. This changing direction has been particularly strong among younger adults, parents and minorities. American young adults, those with kids and minorities have all been taking a closer look at their finance management. Among those examinations has been a boost to life insurance policy trends, suggests a new Unum…

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Canadian life insurance has been too expensive for years, says new analysis

Logan B.
Canadian life insurance - Canadian Money

The findings indicate that people in Canada have been overpaying for coverage by 36 percent. Canadian life insurance is substantially more expensive than it should be, according to a recent PolicyMe study which showed that people in the country to our north are paying an average of 36 percent too much. This analysis was based on the data from 4,800 existing policies in Canada. The findings have shown that the Canadian life insurance industry may be ready for somewhat of an overhaul. The reason is that the traditional methods used…

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State Farm Life Insurance must pay $34M class-action plaintiffs, federal appeals court

H. Cutner
State Farm Life Insurance - Law - Justice

The 8th US Court of Appeals has upheld the ruling that policyholders in Missouri must be repaid. State Farm Life Insurance must repay Missouri policyholders more than $34 million for having charged them undisclosed fees, ruled the 8th US Court of Appeals. The class action lawsuit was filed on behalf of 25,000 policyholders back in 2016. The plaintiffs in the class action lawsuit were people who had purchased policies from State Farm Life Insurance between 1994 and 2004. The lawsuit alleged that the insurer’s policy premiums were said to be…

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Younger Americans are seeking long term care insurance policies

Nordstrom
Long Term Care Insurance Policies - Hospital room

vA MassMutual survey showed that the demand continues to remain solid among consumers. Long term care insurance policies continue to hold their appeal among younger Americans, according to the results of a recent MassMutual survey. Insurers have been withdrawing from this market which comes with expensive chronic care benefits. Despite the concerns among insurers, many consumers are still very interested in investing in long term care insurance policies. The research showed that consumers also like the idea of being able to purchase this coverage as a part of a package…

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Allianz and Generali intend to dump their life insurance assets

H. Cutner
Life insurance assets - Euros

Two of the largest insurers in Europe are planning to sell business worth as much as $9.9 billion. Allianz and Generali, two of the largest insurers in Europe, are preparing to sell billions of euros worth of life insurance assets. Allianz SE intends to sell as much as 9 billion euros worth of these assets in countries such as Italy. Sources familiar with the matter report that Allianz SE is looking to sell off life insurance assets worth as much as $9.9 billion in countries including Italy. The German insurer…

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