As the firm enters into restructuring plans, it has now ceased the sale of those policies until further notice. Genworth Financial Inc. has now announced the suspension of some of its life insurance product sales, after having posted a Q4 loss for 2015, which meant that it had continued to lose money throughout every quarter of that year. The company is now entering into restructuring plans in order to overcome its considerable financial challenges. As a result of this announcement and as the insurer begins the planning for its restructuring,…
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Prudential life insurance now available to consumers with HIV
The insurer has now opened up its 10 year and 15 year individual convertible term life products to these patients. Prudential has now announced that it will offer life insurance products to people who have been diagnosed with HIV, becoming the first major provider who is covering people who have received this diagnosis. The insurance policies are offered as a reflection of the longer, healthier lives HIV patients are living. The life insurance policies that are being offered to Prudential’s HIV positive customers include 10 year and 15 year convertible…
Read MoreLife insurance for federal employees may soon be more expensive
Some workers may find that their rates will be rising, but others will be seeing them fall. Just as federal employees just faced an increase in the premiums that they pay for long term care coverage, they have now discovered that some life insurance rates may also be rising for their policies in 2016. This latest change in insurance rates will affect a much wider number of people, as many opt out of LTC. According to the Office of Personnel Management (OPM), while some people will be seeing a rise…
Read MoreMany consumers may be losing faith in their property insurance providers
Accenture report highlights falling satisfaction among consumers Accenture has released a new report highlighting the findings of a survey of those living in 33 different countries. The report aimed to determine how satisfied people living in these countries were with their property insurance provider and their life insurance provider. The report shows that loyalty among consumers has declined somewhat and many people are becoming more likely to seek out new insurance providers in order to find better deals or better coverage options. Only 29% of consumers are satisfied with their…
Read MoreLife insurance could become more affordable with a fitness tracker
For the first time in the U.S., an insurer is using the same idea as pay as you drive coverage, but for a person’s health. A life insurance company in the United States is now offering a service that represents a first for the country, in which wearing a tracker that will reveal an individual’s health, location, and body information to reveal healthy lifestyle habits and reduced risk opportunities that could bring about a discount for premiums. While some are seeing this as an interesting opportunities, others are calling this…
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