Live Insurance News

Do I Need Mortgage Protection Insurance?

April 17, 2018 Live Insurance News

If you have taken out a mortgage recently, you will probably have been pitched mortgage protection insurance. There are a number of different forms that this can take, but generally it will cover your home loan payments in the event that you become disabled or unemployed. Should you die, some mortgage protection plans will pay off your mortgage posthumously. But is mortgage protection insurance something that you need? Or is it just going to be another fee to pay to your bank? The answer to that question is not straightforward,…

Nestle thinking of selling off its Gerber Life Insurance

February 21, 2018February 19, 2018 H. Cutner

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The company’s board of directors is looking into options for that business, including its sale. Nestle’s board of directors is looking into various different options concerning its Gerber Life Insurance business. The company has not ruled out selling off the business as it works to try to adjust its product portfolio. The purpose of Nestle’s efforts is to enhance the effects of a broader organic sales growth strategy. The portfolio management which includes the decision of whether or not to sell the Gerber Life Insurance business is meant to help…

Insurance denial case involving gay men in New York to be investigated by state

February 19, 2018February 17, 2018 Julie Campbell

State financial regulators will be looking into reports of discrimination against homosexual men. New York financial regulators are looking into recent reports of insurance denial involving gay men. The story originated in the New York Times and stated that gay men were being denied long-term care, disability and life insurance because of a preventative medication they were taking. The men were taking a medication to help boost their protection against H.I.V. when they applied for coverage. If the insurance denial allegations are true, it may mean that the insurers’ practices…

Zurich Insurance Group makes $2.1 billion ANZ life insurance acquisition

December 14, 2017December 13, 2017 G. Turner

The Swiss insurer will solidify a more important spot within this sector of the global industry. Zurich Insurance Group has announced its acquisition of ANZ life insurance. The move will place the Swiss company in the top position within Australia’s retail life insurance marketplace. The acquisition was made for a reported $2.1 billion and will considerably increase its standing in Australia. Before the ANZ life insurance acquisition, Zurich had been holding the fifth spot within that marketplace. Now it will take an easy first. The Swiss insurance company stated that…

Life insurance benefits that used to be popular among employers are fading away

September 19, 2017September 16, 2017 G. Turner

A recent survey showed that employees are not seeing this type of coverage in their packages as much. While life insurance benefits used to be a standard part of many employer packages for their workers, fewer companies now offer them. This, despite the fact that employees still find the benefit to be an appealing one. The number of people who purchase life policies through group contracts is growing, but employers are stepping back. A new LIMRA survey revealed that there are up to 108 million Americans who currently have life…

Life insurance medical exam may soon be a thing of the past

August 9, 2017August 7, 2017 Julie Campbell

Technology and data services may soon provide an accurate and cost-effective replacement to health tests. A life insurance medical exam is often one of the most dreaded parts of applying for that type of coverage. That said, as systems and data continue to improve, this requirement may not be needed for much longer. This could mean that the added need for blood and urine samples, weigh-ins and blood pressure checks may stop. The reason is that the information obtained through a life insurance medical exam may be replaced by technology…

Life insurance companies in Illinois owe $7.5 billion to unknowing beneficiaries

June 23, 2017June 21, 2017 Marc

Many insurers are keeping the money owed to beneficiaries who have no idea they’re entitled to a payout. Life insurance companies across the country are struggling with the issue of tracking down beneficiaries owed death benefits. While some states have very strict and specific laws about insurer practices in these situations, others make it possible for insurers to admittedly keep the owed money. In Illinois, this problem has risen to several billions of dollars owed to beneficiaries but kept by insurers. The practice has meant that life insurance companies aren’t…