A.M. Best Co. recently came out with a report which reviews the life/annuity industry challenges in 2011. It also previews what’s to come in 2012 for the industry. Their press release found on Finance.Yahoo.com talks about how the year’s results were marked by strong regulatory capital, good operating earnings, and constant efforts to improve their numbers. Life insurance companies felt additional pressure due to low interest rates, which should remain low for the next few years.
Even though there is a slow rate of growth, A.M. Best expects favorable earnings trends for the coming year. They …
Many people today have never heard of longevity insurance, but it is something everyone should understand. This is a relatively new insurance product and not all annuity suppliers understand how it works. It’s basically an annuity where you make a lump sum payment and your money is held for a particular period of time. If you are still living at the end of this pre-determined time, you receive annuity payments for the rest of your life. It can be seen as risky if you pass away before the end of the period and receive no …
Life insurance is an important part of your financial plan at every point in life, but the type of policy you carry should be adjusted to match the stage in life you are in at any given time. Many factors need to be considered when deciding what attributes your life insurance will possess. Are you single or married? Do you have children? Do you have a mortgage? Do you have any savings? It’s important to be aware that your life situation will change and your life insurance policy may need to change as well.
Your life …
Bankruptcy is being considered by millions of Americans during these tough economic times, and many are wondering what will happen to their life insurance proceeds if they choose to file. Depending on your circumstances, your life insurance proceeds could be safe from bankruptcy laws, but there are exceptions that do apply and you should definitely talk to a professional about how your unique scenario will impact your life insurance policy.
You will first need to determine what type of bankruptcy you will be filing. There are three main types that the general public tend to turn …
I came across an interesting article about how families often get in the midst of a feud after a loved one has passed away. The scenario involves one family member holding a life insurance policy’s crucial information hostage as a way to get part of the proceeds. This would generally happen when someone is offended that no money was left to them. It may seem far fetched, but according to Lynette Khalfani-Cox’s article on Fox Business, this “happens all the time”.
Michael Hartmann is the founder and CEO of FindYourPolicy.com, and he says this situation is …
More financial advisers are steering their clients towards life insurance as a saving mechanism since government bonds are offering low rates. Unlike term life insurance, permanent life insurance does not lapse, and it offers a unique way to save for retirement while still have a death benefit. According to the article “In a Volatile Market, Some Turn to Insurance Instead of Bonds” by Paul Sullivan on NYTimes.com, the rate of return on permanent life insurance is 3-5% but in addition to this, the money passes onto beneficiaries free of income tax and owners can actually …
The standard term life insurance quote may be perfect for many people, but it may not be just right for some professionals and business owners. According to the article on Fox Business by Timothy R. Fussell, indexed universal life insurance policies could be the perfect option for today’s professionals and business owners to fulfill their retirement needs.
Fussell sites the indexed universal life insurance policy perfect for professions such as doctors, attorneys or CPAs. As a professional, they often operate as a P.A. and are taxed as a sole proprietor, an S corporation or a …
Life insurance comes in a variety of options. There’s whole, term, and universal life insurance policies, just to name a few. You may be asking yourself if it’s a good idea to combine types of life insurance to ensure full coverage. While combining life insurance policies isn’t necessary, it could end up being the right choice for certain individuals.
State Farm Life Insurance offers a variety of life insurance products that can be combined. You can get various prices through a State Farm Life Insurance quote online. But do you really need to have multiple …
Individual life insurance premium totals grew about 6% in the third quarter of 2011, and 5% in the first nine months of 2011. LIMRA’s US Individual Sales report shows this is in large part due to increasing whole life insurance sales over the past year. The press release from LIMRA found on InsuranceNewsNet.com talks about the various drivers and who is receiving benefits from this growth.
Ashley Durham, senior research analyst for LIMRA product research, says the biggest driver of individual life insurance growth in the third quarter is whole life sales. Their premium increased …
UPDATE 2/22/2012 – The current economic state is affecting seniors’ need for life insurance. More seniors have massive amounts of credit card debt and not enough savings for their funeral. If you are a senior or are close to one, take a closer look at your actual need for life insurance during this challenging economic time.
Many may question the need for senior citizens to obtain a life insurance policy. With their children grown and expenses paid for, would these monthly premiums be a waste of money? Unfortunately, this is not the case for …
