Allianz becomes China’s first fully foreign-owned life insurance company

Life insurance - Allianz

The insurer created a joint venture that has become the first to receive approval of this nature. Allianz has announced that its Chinese life insurance company has received the necessary regulatory approval for becoming the first joint venture-created foreign-owned life insurer in the country. The sheer size of the Chinese market has made it an exceptionally appealing one to foreign insurers. Many financial institutions from countries around the world have been seeking to grow their presences within China. They are looking to enter or broaden their presence in the country’s…

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Michigan Senate adopts Life Insurance Awareness Month resolution

Life Insurance Awareness Month - Michigan Flag

Sponsored by Senator Lana Theis, it recognizes September as a time to learn about the benefits. The Michigan state senate has adopted a Life Insurance Awareness Month resolution sponsored by Senator Lana Theis. The resolution recognizes September as the time for state residents to learn about policies. Michigan’s Senate recognized September as Life Insurance Awareness Month, a time in which residents are encouraged to learn about these policies, their premiums, and the way in which their families may benefit in case the worst should happen. The goal is to help…

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California Supreme Court rules life insurance stoppage requires proper notice

Life Insurance Stoppage ruling California

This decision would restore policy premium payments to thousands of people across the state. The California Supreme Court has ruled that a life insurance grace period and other protections must be provided to consumers in the state before insurers are allowed to cut off coverage due to a missed payment. The ruling could restore life insurance payments to affected customers dating back to 2013. In 2013, the state governor at the time, Jerry Brown, signed a law that had passed without any opposition, ending the previous authority that life insurance…

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Prudential says life insurance is changing due to millennials

Life insurance policy

The global pandemic has influenced that influential generation, creating a notable shift in the market. The events across the last year and a half have caused a considerable change in the life insurance market, and according to Prudential Individual Life Insurance President Salene Hitchcock-Gear, millennials are behind this shift. The pandemic has placed our mortality and its consequences front and center stage. Millennials, who fall between the ages of 22 and 40 years old according to the measure used by Hitchcock-Gear, have been made well aware of the risks associated…

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Financial Aspects You Shouldn’t Delay

The last thing you need after years of faithful toil as an employee is to begin retirement without any means to sustain your lifestyle. Or worse still, begin your retirement in debt.  To avoid such an unfortunate start to your sunset years, get your finances in order now. It’s never too early; if you’ve just secured your first full-time gig, now is the time to begin building a solid financial foundation for your future.  Life Insurance Coverage Life insurance offers you a means to provide for your family when you…

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