Day: February 17, 2023

The Serious Illness Insurance Market Will Reportedly Hit $354 Billion By 2031!

Guest Author
serious illness costs going up

On a global scale, the serious or critical insurance market is reported to remain on a rise! Advancements in science and medicine makes it easier than ever for consumers to consider the possibility of having to live with cancer, heart disease or kidney failure during their lifetimes. By understanding more about common diseases, it appears that consumers are also wanting more insurance coverage to adequately address potential future medical emergencies. Allied Market Research was able to release their 2021 findings that clearly stated that the serious illness insurance market generated…

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$13.5 Billion in Long-Term Care Insurance Claims Paid In 2022

G. Turner
long term insurance claims report just in

Insurers paid out $13.25 Billion in long term care insurance claims during 2022 according to a new report released this week by the American Association for Long-Term Care Insurance (AALTCI). “Consumers need to understand that long-term care insurance companies have paid benefits to millions of Americans over the past decades,” says Jesse Slome, AALTCI’s director. “In fact, each year, insurers pay more in claim benefits to more beneficiaries than the prior year.” According to Slome, some $12.3 Billion in claim benefits was paid out in 2021. “The over $1 Billion increase…

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State Farm insurance company provides customers with free Ting sensors

G. Turner
Insurance company - Electrical fire

The insurer is distributing more than one million devices in an effort to help prevent electrical fires. State Farm insurance company has announced that it’s offering its policyholders over one million free Ting sensors as a part of a strategy to reduce the risk of electrical fires. The smart sensor provides home electricity monitoring to help spot hazards that could spark a fire. The insurance company is offering over one million of the Ting sensors to its customers to help those policyholders to be able to detect hazards in their…

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