Allianz and Generali intend to dump their life insurance assets

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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MassMutual to gift $3 billion in life insurance policies to front line workers

Life Insurance Policies - healthcare workers

This is the latest in a string of announcements insurers have made in the face of COVID-19. Massachusetts Mutual Life Insurance Company has launched a $3 billion life insurance policies assistance program for Connecticut and Massachusetts health care workers. This assistance effort is called the MassMutual HealthBridge program for workers in health care. The MassMutual HealthBridge program will offer health care employees up to $25,000 in free, three-year term life insurance policies. It will be available to active employees of urgent care centers, licensed hospitals, or emergency medical services providers…

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Hybrid life insurance policies gain popularity as LTC payment plans

Claim life insurance

As long term care insurance skyrockets in price, many people are looking for alternative funding. Hybrid life insurance policies are beginning to take the place of long term care insurance policies. Traditional LTC products have plummeted in popularity due to their spiking premiums in recent years. To pay for long term care needs, consumers are turning to new types of insurance coverage. Hybrid life insurance policies are becoming a leading option in that area. These policies come in the form of life products that back long term care financing strategies.…

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New life insurance rules could make rates noticeably cheaper

life insurance plans

People who have hesitated to purchase a policy may find that they have new motivation on its way. Changes to life insurance rules in all states except three are more than likely to bring rates down by a considerable amount. There have already been at least two insurance companies that have decreased their term life policy rates and other insurers are expected to follow. The regulations involve telling insurance companies how much money they must keep in reserve. The two insurers that have already implemented rate decreases in part resulting…

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Allstate recognizes Life Insurance Awareness Month with reminder to consumers

Allstate insurance technology

The insurance company has used September to underscore the financial security benefits of the coverage. September is Life Insurance Awareness Month and Allstate has recognized it by spreading the word. The insurer has been sharing information about the ways in which this type of policy can boost a family’s financial security. There are two primary ways upon which Allstate has been focusing to take advantage of life insurance benefits. The first is the central component of Life Insurance Awareness Month: buying a policy. That said, it recommends purchasing a policy…

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Life insurance policies carried by San Bernardino shooter may be seized by US

This week, federal prosecutors filed a suit to be able to take control of Syed Rizwan Farook’s payouts. The life insurance policies taken out by Syed Rizwan Farook, one of the San Bernardino shooters from the attacks in December 2015, may soon be seized by the U.S. government if federal prosecutors are successful in winning the lawsuit they have now filed. This would allow the government to seize the payouts from the two insurance policies carried by the shooter. The U.S. attorney’s office in Los Angeles made the filing for…

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Zurich Insurance company brings in new global life CEO

Zurich Insurance Company News Building in Leeds

Gary Shaughnessy has now been appointed as the chief executive officer as the insurer shuffles leadership again. The Zurich Insurance company has now announced that it has changed leadership in its Global Life business for the second time in a span of two years, now that it has appointed Gary Shaughnessy to the position. The new CEO had already been the head of the life insurance business for the U.K. with extensive experience. The 49 year old had also been the interim CEO of global life in Asia, Europe and…

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