USAA and Human API collaborate on new life insurance shopping experience

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The insurer announced that it would be working with the health data platform to change the buying process. USAA Life Insurance Company has announced that it will be partnering with Human API to take its next step forward in the experience it provides consumers seeking coverage. The insurer and health data platform will come together to recreate the policy shopping process. The new collaboration will bring together the USAA Life insurance experience with digital health data and the health data platform from Human API. The goal is to use the…

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Long-Term Care Insurance Association Releases Linked-Benefit Price Index

A 55-year-old male should expect to pay around $5,300 annually for an average linked-benefit long-term care insurance policy according to the just-published Price Index.  The first price analysis comparing leading linked-benefit insurance costs and benefits was recently published by the American Association for Long-Term Care Insurance. “Linked-benefit long-term care insurance combines the benefits of a life insurance policy with a rider that can provide long-term care benefits,” explains Jesse Slome, director of the American Association for Long-Term Care Insurance.  “These policies now outsell traditional long-term care insurance making it time for us to…

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5 Types of Insurance and Why You May Need Them

Life has a way of throwing the unexpected at you at the worst possible time. This is where insurance comes in. When you’re paying your premiums, you may wonder sometimes whether it’s worthwhile, but when those emergencies happen, it all becomes worthwhile. The rest of the time, simply having the right policy can be important for your peace of mind. Below are a few of the types you may want to consider. Treatment Abroad Everyone knows that you need health insurance, but this can still mean high medical costs. For…

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10 Perks of Getting Insurance from Wholesale Clubs

The whole concept behind purchasing insurance, whether it be automobile, house, or health coverage, is to have a safety net when disaster strikes. But this kind of safety net can be incredibly expensive even in the best of circumstances, and this means that it may often be out of reach for lower-income workers and their families, as well as for large families with several dependents to provide for. If you need to buy insurance and you also happen to be a member of a wholesale club like Costco, Sam’s, or…

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Life insurance companies join pivoting move due to pandemic

life insurance claims on the rise

This segment of the industry has found itself having to make important changes due to new trends. The global life insurance industry has experienced a sudden and substantial shift in its trends since 2020 due to the pandemic. As a new wave continues with an even more transmissible variant, insurers in this industry are experiencing notable claims increases, causing them to have to pivot just as businesses in many other industries have had to do. Claims in 2021 jumped much higher than expected based on predictions regarding COVID-19. The first…

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The Metaverse and Insurance: How Will it Work?

In tech circles, you may have heard whispers of the mysterious-sounding “Metaverse.” Facebook unveiled its plan to go “Meta” in October 2021, but there are swirling uncertainties as to the actual features and implementation of this new technology, which promises a level of virtual reality and interconnectability that was previously unimaginable. Large amounts of capital are being pumped into the Metaverse. It could even become an integral part of Web 3.0, together with blockchain and Bitcoin. When it comes to regulatory issues like insurance concerns, however, it can be difficult…

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Permanent life Insurance

Definitions are important It is essential to understand the different types of life insurance available to you and their differences.  Permanent life insurance refers to a category of insurance policies that never expire. Typically permanent life insurance includes a savings component as part of the policy on top of the death benefit. Two main types of permanent life insurance are universal life insurance and whole life insurance.  Let’s dissect these to clearly understand the differences between them. Universal life insurance Universal life insurance falls under permanent life insurance in that…

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