New York Life maintains its largest slice of the market pie, leading the life insurance industry

Latest insurance news for life market New York Life has announced that it had once again achieved the position of top seller of new life insurance last year, with a solid 10.7 percent of the market share right through the last quarter of 2011. The sales of individual life insurance at New York Life experienced a steady increase throughout the year, having risen by 12 percent over the year before. This was the result of the work done by the insurer’s 12,250 licensed agents across the country. The head of…

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Research reveals ratings for insurance company customer satisfaction

The results of a new national study by Insure.com has revealed how satisfied customers feel with the coverage and service they are receiving from some of the largest home, health, auto, and life insurers in the country. The company simultaneously released a new tool called Best Insurance Companies, which gives consumers the ability to compare their own insurer with the satisfaction levels achieved by other major insurance companies. Consumers can discover the satisfaction ratings in five different categories: • Value for cost of premiums • Customer service • Percentage of…

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Life Insurance Awareness Month: LIFE Foundation may have trouble convincing consumers life insurance is worthwhile

September is Life Insurance Awareness month and many insurers have been launching campaigns to attract new clients. Many people often put life insurance in the back of their mind because the issue of death is both sensitive and uncomfortable. Because of the unsettling nature of the subject, a great number of people go without life insurance, justifying their decision with the intention of getting coverage in their latter years. Accidents, however, are unpredictable and life itself is notoriously fickle. Given that life can come to a sudden, unavoidable halt at…

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Insurers remind consumers of Life Insurance Awareness Month in September

September is Life Insurance Awareness Month, and insurers such as Northwestern Mutual, which has been named the Fortune magazine “World’s Most Admired” life insurance company for 2011, is witnessing a growth in the interest consumers have for their long term protection, as the insurer reminds people across the United States about the importance of life insurance to planning financial security. According to the vice president of life products at Northwestern Mutual, Dave Simbro, “Life Insurance Awareness Month is a great reminder for everyone to consider their life insurance needs”. He…

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Unclaimed billions from life benefits…who will get it?

Lawmakers in the U.S. are battling over billions of dollars in unclaimed life insurance benefits. A number of states have stepped into the legal arena, hoping to lay claim to the money. Technically, the money belongs to beneficiaries, but states have laws that impose statutes on how long benefits can go unclaimed. The money presents an enticing opportunity for states that have dangerously thin wallets. California, in particular, has been aggressive in their pursuit of these funds. The state, after meandering through the legal process, is now pressuring insurance companies…

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