The Hartford launches new life insurance Issue First process

The Hartford has announced that it will now be able to offer its customers permanent life insurance in as little as five days, by way of its brand new First Issue process. As the current average in the industry for permanent life insurance delivery is 48 days, the new Hartford process has reduced that time to a mere fraction. It shows that the insurer has listened to the common complaint that they receive from their customers: that life insurance takes too long to purchase, and that they have done something…

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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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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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Nationwide answers probing questions in Florida

Representatives from Nationwide Mutual Insurance where called upon by Florida officials to testify on how insurers handle life insurance payouts in the state. Several of the state’s insurance companies have been the target of controversy lately after being accused by regulators of holding back payouts. Allegedly, these companies withhold funds despite having full knowledge that a policyholder has passed away. According to regulators, these funds may be being held in safekeeping until they are designated as unclaimed, at which point the insurer is no longer liable for payouts. Nationwide assured…

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