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AIG to Sell Life Insurance Unit to MetLife

Posted in AIG , Life Insurance

January 22nd, 2010
2 Comments

Troubled insurer American International Group (AIG) is nearing an agreement to sell one of its international life insurance units to its rival MetLife, Inc. as soon as possible. The negotiations have been going on for several months, but it looks as though the two companies have settled on a deal that will result in $15 billion sell-off.

Top 5 Life Insurance Scams

Posted in Life Insurance

January 21st, 2010
1 Comment

Life insurance is touted as a smart purchase for those wanting peace of mind regarding estate planning. Unfortunately, there are predators using the system to conduct life insurance fraud on unsuspecting victims. Annually, insurance fraud costs Americans at least $80 billion, so let’s take a look at how these scammers are stealing our money.

First Interactive e-Policy Solution for Life Insurance Announced

Posted in Life Insurance

January 20th, 2010
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iPipeline, which is leading on-demand software for the nation’s top insurance carriers, announced its launch of e-Policy Solution. e-Policy Solution is the first digital, interactive experience for policy delivery and is expected to used by 10 of the nation’s top insurance carriers.

What is e-Policy Solution?

Barclays Capital Views Life Insurance Sector as “Positive”

Posted in Life Insurance

January 15th, 2010
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After Hartford Financial’s shares rose by 95 cents on Tuesday, a Barclays Capital analyst upgraded his view of the life insurance sector from “Neutral” to “Positive.” However, reports show that the sector as awhole is not responding as quickly, even after the news from Barclays.

Hartford Financial Numbers Increase Due to Forecast

What Has AIG Done Now? $500 Million Workers’ Comp Judgment

Posted in AIG , Life Insurance

January 12th, 2010
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Insurance giant AIG has managed to stay out of the media spotlight for some time, but it has re-entered with news that its California life insurance subsidiary is on the hook for half a billion in workers’ compensation liability.

According to a ruling last week by the California appeals court, AIG is liable for around $517 million in California workers’ compensation reinsurance coverage and interest.

Tips for Avoiding the Grim Reaper this Winter

Posted in Life Insurance

December 25th, 2009
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When the Grim Reaper comes knocking at your door, there is no way to escape his grip (unless of course you’re Peter from Family Guy). It is a fact of life, that death occurs “just because” and the winter months are especially ripe for the collection of souls.Winter deaths can be unexpected and incredibly shocking. Some of the worst ways to die in winter involve situations that most people would not wish upon their worst enemies.

Long Term Care Insurance or $79,935 for Nursing Homes?

Posted in Life Insurance

December 8th, 2009
3 Comments

Like everything else these days, aging has high costs associated with it. If you are fortunate enough to have the money to afford the average annual nursing home expenses of nearly $80,000, or make so little money that your state or local government will pay for the expenditure, consider yourself lucky. If you are part of the middle class, that financial burden will fall upon you as half of all people in assisted living must pay for these costs out of pocket. Only when an individual exhausts their own resources will the government kick in to pay the rest.

New Report Shows Life Insurance Sales Have Surged

Posted in Life Insurance

December 1st, 2009
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Data recently released by the Life Insurance and Market Research Association (now known as LIMRA) shows that individual whole life insurance surged in 2009′s third quarter. According to the association, the increase in life insurance sales was by 12 percent.

Other Stats from the Report

The report also showed that mutual companies, which represent two-thirds of whole life sales, grew 14 percent in the quarter. However, according to the report, the surge in whole life insurance sales does not help total individual sales, which have fallen 11 percent in the third quarter.

MEC: Modified Endowment Contract Resource Center

Posted in Life Insurance

November 30th, 2009
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For those who have excess funds even after maximizing other retirement investment vehicles, a modified endowment contract can make sense. The process however, is highly complicated.

Good News for Life Insurance Policyholders

Posted in Life Insurance

November 17th, 2009
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Life Insurance for Mortgage Protection

Regardless of what name it goes by, one of the major selling points of life insurance is called “mortgage protection.” Primarily, your life insurance policy exists to pay off the value of your home in case of your untimely death. For those who have this type of protection set up, the standard interest rate that life insurance companies normally charge is around 10%. Since the decline in home values and the overall lowered interest rates, chances are that those previously contracted for this type of coverage are paying too much for their life insurance premiums. While the economy may be down, this is at least one positive that has come from it. Many life insurance policyholders will simply have to switch insurance providers in order to enjoy lower rates due to decreases in their home’s value.