Tag: life insurance

MassMutual to gift $3 billion in life insurance policies to front line workers

G. Turner
Life Insurance Policies - healthcare workers

This is the latest in a string of announcements insurers have made in the face of COVID-19. Massachusetts Mutual Life Insurance Company has launched a $3 billion life insurance policies assistance program for Connecticut and Massachusetts health care workers. This assistance effort is called the MassMutual HealthBridge program for workers in health care. The MassMutual HealthBridge program will offer health care employees up to $25,000 in free, three-year term life insurance policies. It will be available to active employees of urgent care centers, licensed hospitals, or emergency medical services providers…

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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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Brooke Shields places life insurance value into the spotlight

Nordstrom
Life insurance value - Brooke Shields - Life Happens - YouTube

The actress has partnered with Life Happens to spread awareness about coverage accessibility. Last month, Brooke Shields used a partnership with Life Happens to draw attention to life insurance value and accessibility. Last month was life insurance awareness month and this partnership played a central role. Shields partnered with the non-profit to help push forward the message of life insurance value and accessibility. It was a very direct message: that every family can and should buy coverage to ensure their loved ones are protected if the worst should happen. Death,…

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Jay Z and Will Smith backed life insurance start-up valued at almost $500 million

Julie Campbell
Life insurance start-up - Robert Downey Jr. visits the Embassy

The company, called Ethos, gained considerable value in a Series C round led by big-name backers. San Francisco-based life insurance start-up, Ethos, has just gained an additional $60 million in funding and is now valued at just about $500 million. Existing investors include such big name celebs as Jay Z, Will Smith and Robert Downey Jr. During its Series C round of funding, the life insurance start-up was highly successful, with a round led by Alphabet’s (parent company of Google) venture arm, GV, as well as Goldman Sachs. Its existing…

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What you need to know about Berkshire insurance investing struggles

Nordstrom
Berkshire Insurance - Analysis - Woman with glasses

Warren Buffett is known for outstanding outcomes in this industry but current figures are sour. In the investing world, Berkshire insurance decisions have often been seen as the gold standard in terms of solid and reliable choices. However, the company’s operating earnings fell in Q2 2019, shocking many investors. Insurers owned by Berkshire saw a substantial plummet in underwriting income in that quarter. Berkshire insurance underwriting income fell by almost 63 percent during the second quarter. This brought it to $353 million. The firm’s reinsurance unit also drooped to a…

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Traditional long term care insurance policy sales maintain downward slope

Logan B.
Traditional long term care insurance - Hand over senior citizens

Data shows that Americans are buying fewer LTC policies year over year. Americans are no longer purchasing traditional long term care insurance at the same rate they used to. In 2018, they bought only about 60,000 stand-alone policies in that category. That represents a drop of 13 percent year over year. Falling sales mean fewer insurance companies are participating in this coverage sector. Only about 15 carriers actively sold traditional long term care insurance policies last year. Moreover, among them, five took in over three quarters of the entire market,…

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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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