Life insurance sales placed in suspension at Genworth Financial

life insurance agent policy

As the firm enters into restructuring plans, it has now ceased the sale of those policies until further notice. Genworth Financial Inc. has now announced the suspension of some of its life insurance product sales, after having posted a Q4 loss for 2015, which meant that it had continued to lose money throughout every quarter of that year. The company is now entering into restructuring plans in order to overcome its considerable financial challenges. As a result of this announcement and as the insurer begins the planning for its restructuring,…

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Prudential life insurance now available to consumers with HIV

Life Insurance

The insurer has now opened up its 10 year and 15 year individual convertible term life products to these patients. Prudential has now announced that it will offer life insurance products to people who have been diagnosed with HIV, becoming the first major provider who is covering people who have received this diagnosis. The insurance policies are offered as a reflection of the longer, healthier lives HIV patients are living. The life insurance policies that are being offered to Prudential’s HIV positive customers include 10 year and 15 year convertible…

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Life insurance for federal employees may soon be more expensive

Life Insurance Contracts

Some workers may find that their rates will be rising, but others will be seeing them fall. Just as federal employees just faced an increase in the premiums that they pay for long term care coverage, they have now discovered that some life insurance rates may also be rising for their policies in 2016. This latest change in insurance rates will affect a much wider number of people, as many opt out of LTC. According to the Office of Personnel Management (OPM), while some people will be seeing a rise…

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Many consumers may be losing faith in their property insurance providers

Property Insurance

Accenture report highlights falling satisfaction among consumers Accenture has released a new report highlighting the findings of a survey of those living in 33 different countries. The report aimed to determine how satisfied people living in these countries were with their property insurance provider and their life insurance provider. The report shows that loyalty among consumers has declined somewhat and many people are becoming more likely to seek out new insurance providers in order to find better deals or better coverage options. Only 29% of consumers are satisfied with their…

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Life insurance could become more affordable with a fitness tracker

fitbit fitness tracker health care life insurance technology

For the first time in the U.S., an insurer is using the same idea as pay as you drive coverage, but for a person’s health. A life insurance company in the United States is now offering a service that represents a first for the country, in which wearing a tracker that will reveal an individual’s health, location, and body information to reveal healthy lifestyle habits and reduced risk opportunities that could bring about a discount for premiums. While some are seeing this as an interesting opportunities, others are calling this…

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Life insurance controversy sparked in the United Kingdom

Life Insurance medical exam

Financial Conduct Authority criticized for breaking its own rules The Financial Conduct Authority, a financial regulatory body in the United Kingdom, may have mishandled its review of the life insurance industry last year, according to a report from a committee of members of the British Parliament. The report is the latest development in ongoing controversy regarding the Financial Conduct Authority’s plans to review the life insurance sector. This review has had a significant impact on the sector, with the regulatory body wiping some $4 billion off the value of insurance…

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Seniors may be missing out on $112 billion in life insurance settlements

Elderly selling their life insurance to get pay out

Life settlements are being forfeited every year United States residents over the age of 65 are losing out on a collective $112 billion in life insurance settlements every year, according to a new report from the Life Insurance Settlement Association. The report notes that consumers are losing out on life insurance benefits because of lapsed coverage or because they choose to surrender their coverage. The organization suggests that the potential size of the life settlement market in the United States is “simply astounding.” Report shows that a typical life insurance…

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New York law helps ensure the longevity of life insurance benefits

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Governor Cuomo signs legislation focused on life insurance coverage into law A new law in New York will ensure that consumers will get to keep their life insurance policies if their issuing insurer goes out of business. The legislation was signed into law by Governor Andrew Cuomo, who believes that the law is necessary to ensure that consumers retain the coverage that they rely on. Typically, if an insurance company goes out of business, the policies it was responsible for become void, unless they are purchased by another insurance provider.…

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Casey Kasem Life insurance battle is now headed to court

Casey Kasem signature life insurance

The war within the legendary radio personality’s family over his estate will now be settled in the courtroom. The fights between the children and the second wife and widow of radio legend Casey Kasum (who died in the summer of 2014) didn’t start with the raging disagreements over his estate and the massive life insurance check that comes with it, but those are the latest issues being faced, and they are now headed to court to allow the legal system to try to figure them out. The life policy carried…

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Life insurance report reveals key trends to 2018

Life Insurance

Research and Markets has now released a new publication that provides insights into opportunities in the Philippines. Analytics firm, Research and Markets, has now added a new report to its offerings which they have entitled “Life Insurance in Philippines, Key Trends and Opportunities to 2018”, providing insight into that location and the opportunities that are opening up there over the next four years. The results of the study showed a number of important trends within this sector of the insurance industry. This life insurance news report showed that in the…

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