Live Insurance News

Life insurance policies that went unpaid in Minnesota lead to another settlement

May 18, 2013May 25, 2013 G. Turner

Prudential has agreed to pay a penalty of $14 million to compensate for the payments it did not make. Following a Department of Commerce review of Prudential life insurance policies in Minnesota in which no claims had been made following the deaths of the policyholders and where no benefits had been paid out, the insurer has agreed to a settlement, this week. The settlement is reported to be for $14 million and was first announced in the middle of the week. Prudential and the state of Minnesota were able to…

Life insurance will be experiencing higher premiums for term policies

May 9, 2013May 25, 2013 Julie Campbell

In an environment with low interest rates, the cost of the coverage is on its way up. According to the data that has been released by an online life insurance comparison agency, term policies are becoming more expensive and are slightly more difficult to find than they used to be. This news comes after a decade in which prices had been consistently plummeting to record lows. However, the latest research from IntelliQuote has shown that the premiums that are being quoted for term life insurance policies increased by an average…

Life insurance based strategies for retirement could benefit from Obama IRA cap

April 18, 2013April 16, 2013 H. Cutner

Annuities retirement strategy pennsylvania insurance commissioner

This type of planning could become more advantageous if the President’s plan moves forward. Retirement planning strategies based on life insurance could receive a considerable boost if the pitch that President Obama has made to cap IRAs at $3.4 million is able to move forward. Individuals who have a large amount of money within their retirement accounts could benefit most. The reason is that those individuals would be able to withdraw funds from those accounts, pay the taxes that would be applicable to having made the withdrawal, and then purchase…

Life insurance industry seeks to dissuade tax reform

April 13, 2013April 11, 2013 Logan B.

Life insurance representatives flock to DC to defend tax incentives Insurance executives and advisers, many of whom are represented by the National Association of Insurance and Financial Advisers, are flocking to Washington D.C. this week in order to warn federal lawmakers not to make changes to the preferential tax incentives that are offered to the life insurance industry. The life insurance sector in the U.S. has received these tax incentives, in one form or another, for the better part of a century, but financial concerns and the problematic performance of the…

Insurance industry study shows coverage knowledge generation gap

April 4, 2013April 2, 2013 G. Turner

The research indicated that Australians in Generation Y know more about coverage than their parents. The results of a new study conducted by TAL have just been released, and are indicating that when it comes to knowledge about the insurance industry and how to properly apply it to their best advantage. This is particularly the case in terms of life policies, as those who are younger are most likely to have them. The research showed that Australians within the Generation Y age group are more likely to say that they…