Live Insurance News

Life insurance should be purchased early for best results

September 15, 2012April 30, 2013

Financial advisors are failing to get the message across to their younger clients. Recent statistics regarding the way that financial advisers are recommending life insurance products have shown that there are two primary common actions that are leaving their clients without the coverage from which they could greatly benefit. The most common of these habits is not to recommend the policies at all. Although life insurance has decreased in its popularity over the last two decades, this does not remove the fact that many people – particularly those with families…

Life Insurance Awareness Month is working to build its success this year

September 14, 2012September 14, 2012 H. Cutner

September 2012 is aiming to draw significant attention to this financial planning tool. This month represents the ninth anniversary of September as the official Life Insurance Awareness Month, in which the industry works to draw attention to the many benefits of this coverage for consumers and their families. The current economy has been a prime illustrator of how shaky a family’s financial situation can be. A recent study quoted by LIMRA has shown that Americans are experiencing growing concerns with their ability to make their bills, rent, and mortgage payments…

Life insurance in Europe is taking off

August 9, 2012August 8, 2012 Julie Campbell

As consumers stay away from riskier investments, they’re choosing this coverage instead. Two of the largest European insurers, Axa and Allianz, are exceeding the profit predictions as consumers who are shying away from risky investments are choosing traditional life insurance for its comparative stability and safety. The top insurer in Europe, Allianz, saw 2.8 percent greater year over year profits in the second quarter. The insurer reported that its operating profit was €2.37 billion in the second quarter of 2012. This is an increase that is far about the €2.2…

Life insurance sales increase alongside growth in critical illness sector

August 3, 2012April 30, 2013

The rapid growth in one has renewed interest that had been fading in the other. The current explosive growth of critical illness policies is creating a renewal in the interest that consumers have for permanent life insurance. Though the reasons for this are multidimensional, they also make a great deal of sense. Even though these products don’t appear to have much to do with one another, they are linked by certain events and circumstances that can make them both appealing to consumers at the same time. For example, as employers…

Report shows consumers think life insurance is almost three times more costly than it is

April 29, 2012May 26, 2012 Julie Campbell

A study performed by LIMRA and the LIFE Foundation has revealed many consumer misunderstandings of life insurance coverage. LIFE Foundation and LIMRA released a report based on the findings of a joint study that has shown that consumers have many misunderstandings about life insurance – such as its cost – and that this might be deterring them from seeking to obtain coverage that could be very beneficial to them. The participants in the survey were requested to provide their best guess as to how much a 20-year level-term life policy…

How to buy life insurance and broach the topic of death

April 15, 2012May 27, 2012 Julie Campbell

Though most people will reach the point that they’d like to consider coverage, knowing how to talk about the subject of death and how to buy life insurance isn’t always an obvious thing to do. After all, the process of trying to assign a financial value to a person’s life is not exactly a comfortable topic. However, what must be kept in mind is that this form over coverage is not designed to reduce the mourning and grief that will occur when a loved one has died, but it is…

Prudential Insurance reaches settlement with Insurance Departments in seven states

February 8, 2012 Julie Campbell

Seven states have announced that they have reached a settlement with Prudential Insurance Company of America as well as a number of its affiliate companies. According to Michael Consedine, the insurance commissioner from Pennsylvania, there were concerns raised over the practices at Prudential over the death benefit payments for beneficiaries of life insurance policies following an exam performed by several states. However, he went on to say that they appreciate the willingness of Prudential to “to reach a settlement that includes changing its business practices to better locate beneficiaries. This…