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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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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Shopping for life insurance on the Internet

In days past, life insurance agents would come to your door. Today, the agents are trying to reach people through the Internet. The benefit of purchasing online is that you can compare insurance companies and their rates, view features and plans that are offered.  Many online insurance companies will even connect you with a licensed insurance agent so you can make sure you get the coverage you need for yourself or your family. Gary Lardy, CEO of IntelliQuoute feels that by insurance websites providing access to tools at all hours…

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