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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Life Insurance Awareness Month: LIFE Foundation may have trouble convincing consumers life insurance is worthwhile

September is Life Insurance Awareness month and many insurers have been launching campaigns to attract new clients. Many people often put life insurance in the back of their mind because the issue of death is both sensitive and uncomfortable. Because of the unsettling nature of the subject, a great number of people go without life insurance, justifying their decision with the intention of getting coverage in their latter years. Accidents, however, are unpredictable and life itself is notoriously fickle. Given that life can come to a sudden, unavoidable halt at…

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Insurers remind consumers of Life Insurance Awareness Month in September

September is Life Insurance Awareness Month, and insurers such as Northwestern Mutual, which has been named the Fortune magazine “World’s Most Admired” life insurance company for 2011, is witnessing a growth in the interest consumers have for their long term protection, as the insurer reminds people across the United States about the importance of life insurance to planning financial security. According to the vice president of life products at Northwestern Mutual, Dave Simbro, “Life Insurance Awareness Month is a great reminder for everyone to consider their life insurance needs”. He…

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Study shows online purchases of life insurance on the rise

The results of a study performed by the LIFE Foundation and LIMRA have indicated that Americans – particularly those in younger age groups – would rather make their life insurance purchases online, through the mail, or by phone. Though the majority – 64 percent – of consumers continue to make their life insurance purchases from an insurance agent, that number is rapidly decreasing when compared to the 1996 statistics. In that year, 80 percent of people were buying their insurance in person. According to president and CEO Marvin H. Feldman,…

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Delinquent life insurance pay outs being investigated

As insurance companies from around the nation begin to crack down on fraud, some are finding themselves accused of the very thing they are trying to expunge. Such is the case with Metropolitan Life Insurance Co. The insurer is accused by the state of California of not paying life insurance benefits after finding out that the policyholder had passed away. The state is getting ready to investigate the practices of the company in an effort to determine whether these allegations are true or false. Earlier this week, Insurance Commissioner Dave…

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