Life insurance experience differs among states due to health records

Life Insurance - Heart

Health trends in states across the country help to determine a consumer’s experience with coverage. The majority of people can’t say that they have absolutely flawless health and healthy lifestyles, and this impacts their overall experience shopping for life insurance policies. Across the United States, 4 out of every 10 adults have a minimum of two chronic illnesses. That said, some states across the countries have better wellness statistics than others, mainly due to two primary issues, the prevalence of unhealthy lifestyles and of substance abuse. This can have an…

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Life insurance benefits payouts broke records at $100 billion in 2021

Life insurance benefits - Benefit package

Last year, insurers paid out 11 percent more than they had the year before in the United States. Life insurance benefits payouts in the United States reached $100 billion last year, reaching a record total, according to newly released data from the American Council of Life Insurers (ACLI). The increase from 2020 to 2021 represents the largest jump seen since 1918’s influenza pandemic. The amount paid out in life insurance benefits in 2021 represented a year-over-year increase of 11 percent compared to 2020. That was the largest single year hike…

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USAA and Human API collaborate on new life insurance shopping experience

Life insurance - Shopping Cart

The insurer announced that it would be working with the health data platform to change the buying process. USAA Life Insurance Company has announced that it will be partnering with Human API to take its next step forward in the experience it provides consumers seeking coverage. The insurer and health data platform will come together to recreate the policy shopping process. The new collaboration will bring together the USAA Life insurance experience with digital health data and the health data platform from Human API. The goal is to use the…

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Long-Term Care Insurance Association Releases Linked-Benefit Price Index

A 55-year-old male should expect to pay around $5,300 annually for an average linked-benefit long-term care insurance policy according to the just-published Price Index.  The first price analysis comparing leading linked-benefit insurance costs and benefits was recently published by the American Association for Long-Term Care Insurance. “Linked-benefit long-term care insurance combines the benefits of a life insurance policy with a rider that can provide long-term care benefits,” explains Jesse Slome, director of the American Association for Long-Term Care Insurance.  “These policies now outsell traditional long-term care insurance making it time for us to…

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5 Great Reasons to Buy Life Insurance

If you are young, healthy, and single, do you need life insurance? Maybe not, but as soon as you are in a relationship with someone else or have a child, things change. Purchasing a life insurance policy can be one of the most important things that you do for your loved ones. Protect Your Dependents One of the main reasons to get life insurance is to protect your dependents. If anything happens to you, a life insurance policy is one of the considerations for end of life planning and can…

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