Live Insurance News

Life insurance recovery reaches $1.1 billion

July 19, 2013July 16, 2013 H. Cutner

New York regulators have said that by July 10, the nationwide investigation has already been very successful. According to regulators in New York, the investigations that have been going on nationwide have already resulted in the recovery of over $1.1 billion in unclaimed life insurance benefits. Previously, insurers had not been using available lists in order to discover recent deaths that had occurred. The Department of Financial Services in New York explained that many life insurance companies were failing to consult with the Social Security Administration lists of recent deaths…

Life insurance industry in Thailand should grow 17 percent

July 17, 2013July 15, 2013 H. Cutner

This is expected to occur this year even despite the indication of a slowing economy. Though predictions are suggesting that the economy in Thailand will slow during the second half of the year, the Thai Life Assurance Association still believes that the life insurance market will continue its growth by about 17 percent in 2013. Insurers have been designing new products that are better suited to customer demand, allowing them to continue selling. According to the president of the association, Sara Lamsam, “The market growth follows the introduction by all…

Life insurance is now cheaper for vegetarians

July 3, 2013July 3, 2013 Julie Campbell

A diet that no longer contains meat can now help to reduce the price for some people’s policies. A life insurance company from the United Kingdom has recently announced that it has created a special policy that is meant to reward vegetarians for their healthy lifestyle choices through lower premiums. These policies are being offered to consumers in the UK, and India is hoping to be included, as vegetarianism is common. The reasoning behind these vegetarian life insurance policies is that people who live this lifestyle tend to make healthier…

Life insurance industry in Australia feels the economic pinch

June 15, 2013June 12, 2013 G. Turner

Tougher times are beginning to show their mark on this sector as its value drops by over $1 billion. The Australian life insurance industry has been combating the struggles associated with the sluggish economic pace but has still managed to see its value drop by over $1 billion as the impact progresses. Its challenges only grows as it faces difficulties in the claims of larger policy holders. The largest life insurance companies in the Australian industry have reported that within the last year, the profit expectations were missed by a…

Life insurance law in Vermont drives insurers to pay

June 6, 2013June 4, 2013 Julie Campbell

Companies in the state were not adequately seeking beneficiaries are now paying out. Auditors in Vermont have determined that many of the life insurance companies in the state were not being adequately aggressive to seek out the beneficiaries of policyholders that had died, and steps have now been taken to remedy that trend. This has meant that many beneficiaries were not receiving the payments that were due to them. A number of large life insurance companies in Vermont, such as Lincoln Financial, Prudential, and AIG, have each reached settlements with…