According to the article on IFAWEBNEWS by Bob Graham, Sagicor Life Insurance Company is acquiring the life insurance policies and clients of PEMCO Life Insurance. This will be an important acquisition for the insurer and it should make a positive impact to their bottom line in 2012.
Sagicor Life Insurance is based in Tampa, Florida and is looking to purchase around 10,000 term and whole life insurance policies, including 7500 clients from PEMCO Mutual Insurance Company which is based out of Washington state. Financial terms have not been disclosed and the transaction is currently still subject …
Earlier today, John Hancock’s Life Insurance Underwriting department announced enhancements to their HealthStyles program for their customers. This plan has been very successful as they aim to benefit applicants with favorable health and lifestyle factors. This crediting program allows for more affordable life insurance rates for people following healthier lifestyles. The enhancements will further improve this program and make it more appealing to a wider group of people.
After years of research by John Hancock Life Insurance, the HealthStyles program allows underwriters to offer discounts to more clients under a broader range of lifestyle behaviors. The …
New York regulators are requiring life insurance companies to pay out fully when members of the military are killed in action as the new standard. Previously, insurers automatically established a checking account that provided interest to the companies. Benjamin Lawsky, the State Financial Services Superintendent, said that New York is the first state to require this type of payout to beneficiaries.
According to the article by the Associated Press on WashingtonPost.com, families can often get a better return on interest if they receive a bulk payment and invest it wisely. This can be a better option …
Recently, the country’s largest provider of employee insurance benefits, UNUM, announced that they will no longer offer group long-term care insurance to new customers. Clearly, there is a great need for these services, which prompted MedAmerica Insurance Company along with LTC Financial Partners, LLC (LTCFP) to announce their broad suite of LTC products, which will be available to employees at reduced underwriting and multi-life discounts. According to the article, “MedAmerica and LTC Financial Partners Announce a Broad Suite of Long-Term Care Insurance Products for the Workplace,” found on marketwatch.com, the LTC insurance industry is going …
“Life is short” is a saying many refer to when trying to make a big decision. Should I buy this new fancy car? Why not, life is short! I’m not sure I can afford to take the European vacation I’ve been dreaming about. Is it worth it? Sure, life is short after all! However, people don’t usually apply this cliché to another, very important decision. Should I buy life insurance? And the answer is absolutely, because life is truly too short to gamble with the protection of your loved ones. A recent survey conducted by …
It is inevitable that many of us will require long-term care at some point in our lives. The average cost of such care is somewhere around $70,000 annually, which is much more than most of us can afford. This is precisely why purchasing long-term life insurance is necessary. While it’s easy to understand why anyone would want to buy such a plan, it isn’t all that clear on how to best go about doing so. Unfortunately, not all plans are created equal, which is why lawyers from the non-profit group Consumer Watchdog have filed suit …
New York Life Insurance and their New York Life Foundation has always prioritized their charitable donations, but they have announced that for 2012 they plan on doing more. Their budget for charitable giving in 2012 is $13.5 million which is a 5% increase over the 2011 budget of $12.9 million. They are looking to increase their support for programs that benefit today’s youth with a focus on childhood bereavement and educational opportunities.
In addition to their 2012 budget, New York Life Foundation is making a commitment to childhood bereavement specifically through $3.25 million in 2013. Their …
It is commonly understood that purchasing a life insurance policy is a good decision, especially when supporting a family. It can provide a certain peace of mind, that should something happen to you, your loved ones will not experience financial hardship. There are several different options to choose from and the cost of a life insurance policy can vary, but in general, a policy quote is figured with age, gender, and overall health in mind. It is understandable why a life insurance company may hesitate when writing a policy for someone who is in poor …
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 …
There are several challenges facing the life insurance industry in 2012, but executives also see opportunities they plan on taking advantage of according to the press release found on MarketWatch.com. LOMA completed interviews of top executives in the life insurance industry about their predictions on sales, distribution, technology advances, regulation, and social media for the year 2012 and their outlook was generally positive.
The interviews were collected and for LOMA’s annual industry forecast which is published in their monthly publication, Resource Magazine which does happen to be award-winning. These interviews offer insight into what challenges the …
