Life insurance companies could use iPhone apps to calculate rates

mobile smartphone health life insurance

Speculations are swirling about the use of data from health and fitness applications by insurers. As apps and gadgets focused on health and fitness tracking become increasingly popular, many are beginning to speculate that these tools could provide the life insurance industry with valuable data for determining the rates that they are charging individual consumers. In an idea that is similar to usage based auto insurance, iPhones could measure actual policyholder risk levels. Among the elements that have been introduced to the new mobile operating system from Apple is one…

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Life insurance product from Barclays classed as “simple”

life insurance news Barclays Bank

Life insurance policy is the first of its kind to be designated as a “simple” product A new life insurance policy being sold by Barclays and underwritten by Aviva has become the first product of its kind to be classified as “simple” by the British Standards Institution. Last year, the Bank of England issued a report regarding the need for simplistic products within the financial services sector. Typically, many insurance products are difficult to understand because of their complex nature. This can make it difficult for people to find the…

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Man pleads guilty to murder in life insurance fraud case

Serious Life Insurance Fraud

The individual has admitted to helping a friend kill his wife in order to claim the policy’s benefits. A DNA match in evidence from a murder case has led a man to plead guilty to having helped his friend to kill his wife so that benefits could be claimed on the life insurance policy that had been taken out for her. Initially, Dellendo Campbell had thought that he was not going to be caught for his involvement in the murder. The reason that Campbell believed that he wouldn’t be caught…

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Life insurance premiums will be rising for older vets

veterans life insurance rates

Veterans who are over a certain age could soon find that their coverage is becoming more costly. According to a statement that has been released by Veterans Affairs Department officials, as of July 1, 2014, older vets will find themselves facing higher life insurance premiums for their Veterans Group Life Insurance policies. The increase will apply only to vets who are aged 70 years and older and it will be for 2.2 percent. This life insurance rate increase is the first one to have been put into place for veterans…

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Life insurance case won by Frankie Valli

A California court overturned a previous decision that the celebrity’s ex-wife would be able to claim the policy. Frankie Valli, celebrity and music legend, has been undergoing an extremely complex and messy divorce, which has involved a considerable case regarding whether or not his ex-wife would be able to claim his life insurance policy. This case looked into a common and very murky part of divorce law in California and how it involves policies. Although it had previously been decided that Randy Valli would be able to receive the full…

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Teachers in Florida offered free life insurance

Life insurance

Unusual offer could give teachers in Florida insurance protection Thousands of teachers in Pasco County, Florida, recently received an offer that may be too good to be true. The teachers were offered a chance to receive life insurance for free with policies being paid for by the Pollock Financial Group. The group has offered to match teachers with wealthy investors that are looking for lucrative ways to invest their funds. For many teachers, the offer seems to be too altruistic, and this has raised concerns among Florida’s insurance regulators as…

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Life insurance companies do not prefer e-cigarettes

electronic e-cigarette life insurance

The tobacco free options may seem to be healthier but insurers are not seeing them that way. While electronic cigarettes may be designed to mirror the smoking experience while removing the carbon monoxide, tar, and other chemicals and toxins that make tobacco one of the top cancer causers, life insurance companies continue to consider their users in the same way that they would a smoker of a traditional cigarette. Many smokers have been trying to use e-cigarettes to break their nicotine addictions. Quitting smoking is not an easy feat. Life…

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Zombie insurance regulators attack the “walking dead”

Zombie insurance news

Just as the popular AMC television series closes its fourth season, its coverage equivalent is now under attack. Zombie insurance has been making headlines, not because it has any relation to the popular post-apocalyptic horror drama from AMC, or the “walking dead” that has given the show its name. Instead, it is central to insurance news as consumers and regulators combat pricing discrepancies. The Financial Conduct Authority (FCA) in the United Kingdom has indicated that while new customers are being offered better deals, loyal policyholders who have been paying premiums…

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Life insurance companies discriminate against marijuana users

medical marijuana insurance

A newly published report suggests that insurers require these consumers to pay more for policies. A website that provides consumers with life insurance quotes has now released a new report that suggests that people who use marijuana will usually have to pay more for their policies than people who do not. The report is drawing industry attention from both insurers, agents, and consumers alike. This recent news was published under the title “Marijuana Users Discriminated Against by Life Insurance Companies.” It was released on the LifeAnt website and explained that…

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Life insurance mystery develops with record breaking policy

mystery billionaire life insurance

An unknown billionaire has now purchased the most expensive coverage on record. A billionaire from Silicon Valley whose name has not been released has now set a new level in the Guinness Book of World Records, for the most valuable life insurance policy that has ever been purchased. The coverage is for $201 million and it is being provided by 19 different insurers for massive premiums. This life insurance policy will require the mystery billionaire to have to pay millions of dollars in premiums every year. The policy itself was…

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