Tag: US life insurance

US life insurance has become a “panic buy” due to pandemic

Logan B.
US life insurance - person wearing mask using computer

Experts say that people are buying this coverage out of a fear of death and increased awareness of financial risk. US life insurance is experiencing a considerable rise in popularity due to the coronavirus pandemic. Consumers, young adults in particular, have been purchasing coverage at elevated levels. Since the spring, US life insurance companies have been recording notably higher sales levels than they were at the same time in 2019. The trend has taken off as young adults have seen that thousands of Americans were dying from COVID-19 related illness.…

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Progressive life insurance may be a future move, says CEO

Nordstrom
Progressive life insurance - Doors - Future

The insurer is looking into moving into a new market as the CEO says there is “more to come.” It may not be too long before Progressive life insurance becomes a product available to consumers in the United States. Though the move is far from confirmed, the insurer’s CEO has indicated that it is being considered. “We actually are considering that,” said Tricia Griffith, chief executive officer, when asked about the potential for Progressive life insurance in the future. “We have a life-insurance company filed in Ohio. More to come…

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Americans killed by COVID-19 complication least likely to have life insurance coverage

G. Turner
Life insurance coverage - COVID-19 - senior wearing mask

Insurers in the US are paying out far less than expected in connection with pandemic related deaths. When the pandemic first struck the United States, insurers had assumed that payouts for life insurance coverage would sharply spike. They had predicted that deaths from COVID-19 complications would lead payouts to skyrocket. However, several months in, they are finding that they aren’t paying out nearly as many claims as expected. This is largely because those dying from the virus have disproportionately low or lacking insurance. Over the last few weeks, a number…

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Brooke Shields places life insurance value into the spotlight

Nordstrom
Life insurance value - Brooke Shields - Life Happens - YouTube

The actress has partnered with Life Happens to spread awareness about coverage accessibility. Last month, Brooke Shields used a partnership with Life Happens to draw attention to life insurance value and accessibility. Last month was life insurance awareness month and this partnership played a central role. Shields partnered with the non-profit to help push forward the message of life insurance value and accessibility. It was a very direct message: that every family can and should buy coverage to ensure their loved ones are protected if the worst should happen. Death,…

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Jay Z and Will Smith backed life insurance start-up valued at almost $500 million

Julie Campbell
Life insurance start-up - Robert Downey Jr. visits the Embassy

The company, called Ethos, gained considerable value in a Series C round led by big-name backers. San Francisco-based life insurance start-up, Ethos, has just gained an additional $60 million in funding and is now valued at just about $500 million. Existing investors include such big name celebs as Jay Z, Will Smith and Robert Downey Jr. During its Series C round of funding, the life insurance start-up was highly successful, with a round led by Alphabet’s (parent company of Google) venture arm, GV, as well as Goldman Sachs. Its existing…

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Seniors may be missing out on $112 billion in life insurance settlements

Marc
Elderly selling their life insurance to get pay out

Life settlements are being forfeited every year United States residents over the age of 65 are losing out on a collective $112 billion in life insurance settlements every year, according to a new report from the Life Insurance Settlement Association. The report notes that consumers are losing out on life insurance benefits because of lapsed coverage or because they choose to surrender their coverage. The organization suggests that the potential size of the life settlement market in the United States is “simply astounding.” Report shows that a typical life insurance…

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Life insurance assets from Swiss Re in U.S. may soon be for sale

G. Turner
life insurance news

The company has announced that it is considering a retreat from the market in the United States. Sources familiar with Swiss Re Ltd. have revealed that it is thinking about putting its Aurora National Life Assurance Co. up for sale as it is drawing back from the American health and life insurance marketplace. This second largest reinsurer in the world is now taking efforts to seek out buyers for the assets. Swiss Re is working alongside Barclays PLC in order to be able to locate buyers for Aurora National as…

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