A new study from MetLife Insurance shows that working women may not be as knowledgeable about their life insurance policies as they should be. The study, titled MetLife 2011 Insurance Literacy Study, finds that 45% of working women have not taken a second look at their insurance needs since obtaining their first life insurance policy. This could leave their families at financial risk should the unexpected happen. Researchers with MetLife say that more steps should be taken to educate consumers on how their needs change over time and the importance…
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Americans with life insurance feel their beneficiaries are capable of making a claim
The results of a survey by Nationwide Financial Services, Inc. has shown that 70 percent of policyholders of life insurance feel confident that the beneficiaries of the coverage would be capable of filing the claim when the time comes, and that the majority of those policyholders have made an effort to assist in the necessary preparation. The survey’s outcomes were released for Life Insurance Awareness Month, which is September. According to Nationwide Financial’s senior vice president of Individual Protection, Peter Golato, families can obtain financial security and stability from life…
Read MoreNew York Attorney General institutes and inquiry into the operations of nine of the state’s life insurance companies
Nine life insurance companies in New York have come under regulatory scrutiny and will be subject to inquiry regarding the identification of deceased customers and their beneficiaries. The state Attorney General has issued subpoenas to the companies to determine whether they have issued appropriate payouts on the policies of clients that have passed away. Few companies have confirmed the reception of the subpoenas but the Attorney General claims that the recipients are among the leaders in the life insurance market. The inquiry is a result of a growing number of…
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