China launches new life insurance products regulations

china newspaper mobile life insurance products

The country’s official regulator has established new rules to slow the growth of short- and mid-term products. Short- and mid-term life insurance products are now subject to new rules in China. These were shared on an official website notice from the Chinese industry regulator, the China Insurance Regulatory Commission (CIRC). CIRC has been working to be able to reduce the risk associated with the investment into these products. The CIRC’s concern is that if investments are made into stocks and long term assets using funds based on short-term life insurance,…

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Life insurance product for scuba divers now offered

scuba diver life insurance

An insurer has just released a type of policy specifically for these underwater adventurers. As adventure sports start to become more popular, the several sectors of the industry, such as life insurance, have responded by coming up with products that are specifically designed for the needs of participants. Now, a new product has been released that targets individuals who enjoy scuba diving. The insurer behind this new product is Lifeline Direct Insurance Services, which often looks to develop products for specific lifestyles. They have observed that there is a need…

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New York Life maintains its largest slice of the market pie, leading the life insurance industry

Latest insurance news for life market New York Life has announced that it had once again achieved the position of top seller of new life insurance last year, with a solid 10.7 percent of the market share right through the last quarter of 2011. The sales of individual life insurance at New York Life experienced a steady increase throughout the year, having risen by 12 percent over the year before. This was the result of the work done by the insurer’s 12,250 licensed agents across the country. The head of…

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NY Soldiers, vets, and their families may receive insurance protection from Cuomo administration effort

The New York State Department of Financial Services has released a news statement that included Superintendant Benjamin M. Lawsky’s announcement that life insurance companies will be required to pay the full amount to the beneficiaries of the policies that were held by veterans, soldiers, and others, without holding the money in their accounts. Unless either the beneficiary or the policy buyer specifically indicates that the funds should be provided otherwise, this will be the new standard for all life insurance policies of this nature. For many years, the life insurance…

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Forecasts for the 2012 life insurance marketplace

Now that 2011 is coming to a close, life insurers are looking ahead to the new year to try to find out what they can expect from their near future. Though this process is a very cloudy one, as it is impossible to make precise forecasts about the way this market segment will perform, it is still important to try to get an image of what the future may hold. Among the more common predictions are the following: • A larger number of consumers will be starting to think about…

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Missouri insurance department implements new program to locate deceased relatives’ life insurance policy

The insurance department in Missouri has just developed a new program that will assist beneficiaries in being able to track down any life insurance policy that is held by the deceased person. The insurance department has said that it isn’t at all uncommon for people to know that a family member has life insurance coverage, but not actually know which insurer sold the policy. Using this new program in Missouri, people who are searching for a life insurance policy for a dead relative will be able to give the information…

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Americans with life insurance feel their beneficiaries are capable of making a claim

The results of a survey by Nationwide Financial Services, Inc. has shown that 70 percent of policyholders of life insurance feel confident that the beneficiaries of the coverage would be capable of filing the claim when the time comes, and that the majority of those policyholders have made an effort to assist in the necessary preparation. The survey’s outcomes were released for Life Insurance Awareness Month, which is September. According to Nationwide Financial’s senior vice president of Individual Protection, Peter Golato, families can obtain financial security and stability from life…

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