September is Life Insurance Awareness month and many insurers have been launching campaigns to attract new clients. Many people often put life insurance in the back of their mind because the issue of death is both sensitive and uncomfortable. Because of the unsettling nature of the subject, a great number of people go without life insurance, justifying their decision with the intention of getting coverage in their latter years. Accidents, however, are unpredictable and life itself is notoriously fickle. Given that life can come to a sudden, unavoidable halt at…
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Insurers remind consumers of Life Insurance Awareness Month in September
September is Life Insurance Awareness Month, and insurers such as Northwestern Mutual, which has been named the Fortune magazine “World’s Most Admired” life insurance company for 2011, is witnessing a growth in the interest consumers have for their long term protection, as the insurer reminds people across the United States about the importance of life insurance to planning financial security. According to the vice president of life products at Northwestern Mutual, Dave Simbro, “Life Insurance Awareness Month is a great reminder for everyone to consider their life insurance needs”. He…
Read MoreMake sure to check settlement options on life insurance plan
If you live in the state of Texas you may want to review your life insurance policy and read all the terms associated with it. According to a recent survey conducted by the Texas Department of Insurance (TDI) several life insurance companies place beneficiary payments into a Retained Asset Account (RAA) instead of directly paying the beneficiary. In a survey of 160 life insurance companies the TDI found that around 71 of the companies offered RAA’s and over half of them use the accounts as the default policy settlement option.…
Read MoreDelinquent life insurance pay outs being investigated
As insurance companies from around the nation begin to crack down on fraud, some are finding themselves accused of the very thing they are trying to expunge. Such is the case with Metropolitan Life Insurance Co. The insurer is accused by the state of California of not paying life insurance benefits after finding out that the policyholder had passed away. The state is getting ready to investigate the practices of the company in an effort to determine whether these allegations are true or false. Earlier this week, Insurance Commissioner Dave…
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