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Allstate sells off the last of its life insurance business

March 31, 2021March 30, 2021 G. Turner

Life insurance business - sale - business deal

The insurer from Northbrook, Illinois is taking steps for a final exit from that industry sector. Allstate has decided to make a complete departure from the life insurance business, selling off the rest of what remained of its shrunken coverage unit. The giant announced that it had come to a deal with Wilton Re to sell the rest of the life unit. To close this deal, Allstate chose to book a $4 billion loss in the first quarter. In it, the company has sold the last of its life insurance…

7 Types of Insurance Every Millennial Must Consider

March 19, 2021March 19, 2021 Guest Author

Millennials insurance that they are buying

If you were born between 1978 and 1999, you are classified as a millennial. The millennial generation is regarded as one of the most financially conservative generations since they are careful when it comes to investing and saving. Therefore, it’s surprising to look at the fact that a vast majority of individuals between 18 and 39 are underinsured. Here are 8 types of insurance plans millennials should consider: 1 Life Insurance Life insurance isn’t something that only the wealthy need. Depending on your particular situation, perhaps, you need it as…

How to Prevent Accidents When Driving Through Oregon’s Varying Weather Conditions

February 25, 2021February 25, 2021 Guest Author

GEICO Insurance - Driving on winter roads

As a competent driver with plenty of experience, you likely know what a challenge it can be to drive in inclement conditions. Heavy rainfall and fog can reduce your vision on the road to just a few yards, drastically decreasing the time you have to react to hazards. In addition, you have to be extra careful with your wheels moving on the slick surface of a road in the rain. And the streets only get more slippery during winter when covered in ice. Oregon drivers will recognize all of these…

Blackstone Group to purchase Allstate life insurance business for $2.8B

January 28, 2021January 27, 2021 G. Turner

Allstate Life insurance - money - financial - US Dollars

The sale will make it possible for Allstate to focus on its personal property-liability units. Blackstone Group Inc. has announced its agreement to purchase an Allstate life insurance business for $2.8 billion. This move was made as the private equity firm has been broadening its strategy within the insurance industry. The purchase is being made by entities managed by Blackstone Group, according to the announcement. Though the Allstate life insurance business will be sold to the private equity firm, the insurer will be holding onto a New York life business.…

Why You Should Get Life Insurance In Your 20s

December 31, 2020 Adrian Flemming

As this may be the age when you are the most healthy and fit, you may not be thinking about life insurance. Let’s take a look at why it may be good for you. It is absolutely normal to not want to get life insurance when you have just gotten out of college and have just entered or are entering the job market. You will probably have a mountain of student debts and the last thing that may be on your mind at that point is getting a life insurance…

Life insurance shopping trends rise and fall with local COVID-19 cases

December 14, 2020December 11, 2020 H. Cutner

Life insurance shopping - dollar sign - virus

A new NerdWallet survey found that Americans gain and lose interest in coverage based on case numbers. This year, there has been a substantial rise in life insurance shopping behaviors among Americans. Many studies indicate that it is a response to the COVID-19 pandemic, and people’s increased awareness of their own mortality. The study showed that as coronavirus cases fall in an area, so does interest in this type of policy. The research, conducted by NerdWallet, found that 35 percent of American consumers who had been life insurance shopping during…

You Do Not Need Life or Income Protection Insurance to Get a Mortgage

December 3, 2020December 3, 2020 Guest Author

life insurance mortgage protection insurance what is the difference

There are many rumors that surround getting different types of insurance. One of the most prevalent ones is that you need life insurance or income protection cover to get a mortgage. Research shows that 30% of borrowers are told that life insurance is a legal requirement for applying for a mortgage while a further 50% of people who apply for a mortgage are told that they also need life insurance. Life Insurance and Income Protection Are Both Sensible Options Life insurance pays out a lump sum to your beneficiaries once…