Live Insurance News

Lisa Marie Presley had a $35 million life insurance policy when she died

February 1, 2023January 31, 2023 Marc

Tabloids have been speculating about family turmoil regarding the policy’s multimillion dollar payout. Though news reports have focused on the many millions of dollars in debt Lisa Marie Presley was facing by the end of her life, it seems that she was also covered by a $35 million life insurance policy worth $35 million. According to media reports, Lisa Marie Presley had taken out two separate policies. The media reports have indicated that the life insurance policies Lisa Marie Presley had taken out were for $25 million and for $10…

Life insurance experience differs among states due to health records

January 23, 2023January 19, 2023 Marc

Health trends in states across the country help to determine a consumer’s experience with coverage. The majority of people can’t say that they have absolutely flawless health and healthy lifestyles, and this impacts their overall experience shopping for life insurance policies. Across the United States, 4 out of every 10 adults have a minimum of two chronic illnesses. That said, some states across the countries have better wellness statistics than others, mainly due to two primary issues, the prevalence of unhealthy lifestyles and of substance abuse. This can have an…

Rising number of Americans turning to their life insurance in financial uncertainty

December 14, 2022December 13, 2022 G. Turner

A growing number of people in the US are using the policies to help get through inflation. The number of Americans turning to their life insurance policies to help get through inflation and economic uncertainty without having to tap into retirement accounts already suffering from 2022’s volatility. There has been a substantial increase in Americans taking out loans or withdrawals from policies. According to Massachusetts Mutual Life Insurance Co data, last quarter showed a 31 percent year-over-year increase in the number of Americans taking out loans from or withdrawing from…

Life insurance benefits payouts broke records at $100 billion in 2021

November 30, 2022November 29, 2022 G. Turner

Life insurance benefits - Benefit package

Last year, insurers paid out 11 percent more than they had the year before in the United States. Life insurance benefits payouts in the United States reached $100 billion last year, reaching a record total, according to newly released data from the American Council of Life Insurers (ACLI). The increase from 2020 to 2021 represents the largest jump seen since 1918’s influenza pandemic. The amount paid out in life insurance benefits in 2021 represented a year-over-year increase of 11 percent compared to 2020. That was the largest single year hike…

Post Office reveals the most common misconceptions about life insurance & answer what is covered by life insurance

November 29, 2022December 21, 2022 Guest Author

life insurance agent explains what does life insurance cover

The most common misconceptions surrounding life insurance relate to how the policy pay out works and how life assurance differs from insurance. Providing financial security for their family is named the most popular reason for taking out life insurance. Policy holders were just as likely as those without life insurance to fall victim to misconceptions. Almost a fifth of people (18%) with life insurance do not understand the terms by which their beneficiaries would get a pay-out from their policy in the event of their death according to a survey…

Life insurance customer satisfaction drops as pandemic fears ease

October 17, 2022October 16, 2022 Marc

Life insurance - Medical Mask - Computer

JD Power survey shows that that annuity customer satisfaction has also dropped for the same reason. Individual life insurance and annuity products have arrived at a customer engagement problem according to a recent JD Power study. The research showed that customer satisfaction with those products drops rapidly after purchase. The JD Power 2022 US Individual Life Insurance Study and the JD Power 2022 US Individual Annuity Study were both released last week and showed that customer satisfaction with both those products begins to drop quite quickly after their purchase. This…

USAA and Human API collaborate on new life insurance shopping experience

August 18, 2022August 18, 2022 Nordstrom

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…