Tag: life insurance policy

Life insurance shopping trends rise and fall with local COVID-19 cases

H. Cutner
Life insurance shopping - dollar sign - virus

A new NerdWallet survey found that Americans gain and lose interest in coverage based on case numbers. This year, there has been a substantial rise in life insurance shopping behaviors among Americans. Many studies indicate that it is a response to the COVID-19 pandemic, and people’s increased awareness of their own mortality. The study showed that as coronavirus cases fall in an area, so does interest in this type of policy. The research, conducted by NerdWallet, found that 35 percent of American consumers who had been life insurance shopping during…

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American life insurance policy trends have shifted since the pandemic crisis began

H. Cutner
Life insurance policy trends - man looking thoughtful at laptop

US adults are taking this coverage more seriously and have been considering it more frequently. The pandemic crisis has forced millions of Americans to consider their finances and their mortality, creating a striking shift in life insurance policy trends across the country. This changing direction has been particularly strong among younger adults, parents and minorities. American young adults, those with kids and minorities have all been taking a closer look at their finance management. Among those examinations has been a boost to life insurance policy trends, suggests a new Unum…

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Life insurance policy availability for coronavirus coverage may soon shrink

Logan B.
Life insurance policy - person wearing mask using computer

Insurers feel the COVID-19 pandemic comes with too many uncertainties to offer cover. Life insurance policy sales have been spiking since the start of the COVID-19 pandemic, but the availability of this coverage may not continue as it has been. Insurers have been faced with a sudden and dramatic amount of unknown coverage data. Life insurance policy sales are based on the answers to several questions and the use of actuarial tables to determine each applicant’s rates. However, with the addition of the coronavirus pandemic, the factors influencing what an…

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Aging holocaust survivors file lawsuit over Nazi-era life insurance payouts

Marc
Holocaust Survivors - Image of Auschwitz

Surviving beneficiaries have faced a decades-long battle for payments for their murdered relatives. Holocaust survivors have been battling with life insurance companies for years – and sometimes decades – to receive life insurance payouts from policies for which they were beneficiaries. Family members of people murdered by Nazis are seeking payment from the coverage they had on the victims. Holocaust survivors are running out of time in their efforts to recover insurance policies that Nazi-era companies refused to honor. According to the Holocaust Survivors’ Foundation USA, the sum total of…

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MetLife to shake up life insurance industry with Ethereum blockchain adoption

Julie Campbell
Life insurance industry - Ethereum Blockchain

The insurer is using the live tech to enhance efficiency and transparency throughout the claims process. MetLife is adopting the use of Ethereum blockchain in a move that will disrupt the $2.7 trillion life insurance industry. Among the goals is to help beneficiaries to know they are entitled to a payout when their family member or friend has died. At the moment, the industry is essentially opaque to both policyholders and beneficiaries. This situation is advantageous to neither the life insurance industry nor its customers. MetLife is hoping to change…

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Grumpy Cat’s owner faces income loss risk without social media insurance

Julie Campbell
Social media insurance loss - Image of Grumpy Cat

In the absence of coverage for animal influencers, owners risk financial losses when their pets die. Following the death of Grumpy Cat, the lack of a niche social media insurance product for animal influencers has fallen into the spotlight. As a result, the popular meme cat’s owner is at risk of some major financial losses. Under the law, a pet – even a social media influencer – is comparable to any other possession. Grumpy Cat left a fun and beloved legacy behind, along with a business that had been highly…

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Californians received $17.3 million in lost life insurance benefits in 2017 alone

Julie Campbell
Life insurance benefits - US Money

Residents of the state are being advised to use an official tool to check if they are owed money. In 2017, residents of California received $17.3 million from lost life insurance benefits. This is a striking reminder to Californians to find out whether they might be beneficiaries of lost policies. Everyone who received the money the benefits last year did not realize they were a life insurance beneficiary. Not knowing that you are due life insurance benefits is quite common. This means that many people are due substantial sums of…

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