Live Insurance News

Rate increase for California workers comp of 8.25 percent receives approval

May 31, 2012May 31, 2012 H. Cutner

Employees may also soon be seeing changes to disability insurance regulations. Dave Jones, the insurance commissioner in California, has just approved a 8.25 percent workers comp advisory pure premium rate increase in the state for policies that are either new or renewing as of July 1 of this year. Jones explained the reason for the increase in his order that called for it. He stated that though it may not look like there has been much of a change in the costs per unit, the increasing use of medical care…

Survey shows American workforce unprepared for new long term disability insurance benefits

May 19, 2012April 30, 2013

Study indicates that many full time workers have not prepared for their potential risks. Despite the fact that medical expenses are a factor that contributes to approximately 50 percent of all home foreclosures and personal bankruptcies within the United States, the majority of the country’s full time workforce has not adequately planned for the risks that are covered by long term disability insurance. This, according to a study for the Sun Life Financial Inc’s American business group. The report on the study was entitled “Will workers in America hope to…

Most U.S. residents want to protect their incomes but don’t have disability insurance

May 12, 2012April 30, 2013

Americans want to be able to protect their financial future, but lack a primary coverage in that plan. A study performed by Northwestern Mutual, called The State of Planning in American, has shown that being able to maintain a certain standard of living is a primary goal among residents of the United States, but few are actually taking the necessary steps, such as purchasing disability insurance, to make sure that their ability to achieve this goal is protected. The top financial goal for Americans is “having a good standard of…

2012 Critical Illness Buyer and Claimant Study results reveal latest data

May 10, 2012February 9, 2014 H. Cutner

Recent research shows that the most common cause of claims are related to cancer. According to a study performed by the American Association for Critical Illness Insurance, in conjunction with General Re Life Corporation, more than half of all first-time claims filed through critical insurance policies by Americans are related to cancer. Furthermore, strokes and heart attacks made up 29 percent of the new claims last year. There are currently approximately one million people in the United States who have an active critical illness insurance policy, which functions as a…

Disability insurance is among the most underestimated forms of protection

May 8, 2012April 30, 2013

This coverage, as well as critical illness insurance provide greater benefits than people realize. One of the most overlooked and misunderstood forms of coverage that is currently available in the industry is disability insurance. The topic of being too sick or injured to work is an uncomfortable one for many people, and is one that they would prefer to pretend will not happen than to take the time to create a preparedness plan. However, all too many people are finding themselves in a situation where they could have used this…

Employed individuals are finding additional forms of coverage to be increasingly important

May 1, 2012April 30, 2013

A study by The Hartford has shown that single workers don’t have the protection they need in case of injury or illness. Standard employer sponsored health coverage is leaving a widening gap in the protection it provides, making disability insurance and other additional support policies much more important to workers. According to the results of new research performed by The Hartford, this is especially true among those who are employed and single. It is these individuals who are least likely to have a financial safety net in case they should…

The uncontrolled growth of disability insurance

April 28, 2012April 30, 2013

An update from the Medicare and Social Security trustees has shown that the cost of disability insurance is skyrocketing. The annual report published by the Social Security and Medicare trustees has shown that yet again, among all of the partisan disagreements, a critically important issue has failed to receive its due attention: the rapidly increasing cost of disability insurance. This coverage accounts for almost one out of every five dollars that Social Security spends, and the numbers are rising to a point that is simply out of control. Many are…