Life Insurance Roundup, February 29, 2016


Consumers deserve life insurance benefits

In 2007, Florida became aware of a common and appalling practice by many life insurers. Life insurers were using the Social Security Administrator’s Death Master File to determine whether they could stop payment on annuities, but not to determine whether their life insurance policyholders had died and benefits were owed to a beneficiary. 


Use Telenor’s free life insurance to increase your coverage | Business Standard Mobile Website

Mobile operator Telenor claims that it has become the largest micro insurance policy provider in India. It achieved this by offering free life insurance to its mobile customers. At present, 17 million (1.7 crore) customers have enrolled for the offer since it started in October last year and nearly eight million were insured in January alone. 


Regulator to enforce life insurance on boat operations in Lagos | BusinessDay : News you can trust

Regulator to enforce life insurance on boat operations in Lagos

as LASWA initiates new safety measures Operators of commercial boats in Lagos State, Nigeria’s economic hub, will have to mandatory take insurance policy for passengers on board their vessels. 


Man claims Met Life refused payout on life insurance policy | West Virginia Record

The son of a deceased woman is suing a national insurance company, alleging the company is refusing to pay life insurance benefits.

John Pyatt, as administrator of the estate of Martha Francis Moles, filed a lawsuit on Feb. 11 in Fayette Circuit Court against Metropolitan Life Insurance Company claiming breech of contract.

According to the suit, Moles maintained a policy with the insurance company and upon her death he submitted a claim for benefits as administrator of her estate. Pyatt claims the company has refused to provide benefits under the policy.

Pyatt is seeking compensatory and statutory damages. He is represented by Greg A. Hewitt of Hewitt & Salvatore, pllc. 


Top Stocks of the day: China Life Insurance Co. Ltd. (NYSE:LFC) – News Journal

Amid the topmost stocks in today’s market is China Life Insurance Co. Ltd. (NYSE:LFC). China Life Insurance Co. Ltd. had a market cap of 79664.15, indicating that it has a good hold on the market value of the shares outstanding. The current market cap of China Life Insurance Co. Ltd. exhibits the basic determinant of asset allocation and risk-return parameters for its stocks.

The P/E of China Life Insurance Co. Ltd. is currently valued at 9.06 allowing its investors to analyze the company’s stock valuation and its shares relative to the income of the company that it makes. With the constructive P/E value of China Life Insurance Co. Ltd., the investors are able to forecast the positive earnings growth of the company. 


Randy Veach Elected President, Chairman of Southern FB Life Insurance Company | Arkansas Business News | ArkansasBusiness.com

Randy Veach of Manila has been selected as president and chairman of the board of Southern Farm Bureau Life Insurance Company.

In his eighth year as president of the Arkansas Farm Bureau, Veach has served on the SFBLIC board for the past 13 years.

Southern Farm Bureau Life Insurance Company provides life insurance products in 11 states and is headquartered in Jackson, Mississippi.

Veach is the first Arkansan to serve as chairman of SFBLIC. He also serves as a board member of the American Farm Bureau, the nation’s largest farm advocacy organization. 


Watertown Daily Times | An insurance penalty from postpartum depression

In January, a government-appointed panel recommended that all pregnant women and new mothers be screened for depression. Public health advocates rejoiced, as did untold numbers of women who had not known that maternal mental illness even existed before it hit them like a freight train.

But the panel did not mention one possible consequence of a diagnosis: Life and disability insurance providers have sometimes penalized women with these mental illnesses by charging them more money, excluding mental illness from coverage or declining to cover them at all. And it’s perfectly legal. 


Legislators seek insurance law change for children in wake of deadly earthquake – The China Post

Legislators are seeking to revise the insurance law in the wake of the Feb. 6 deadly earthquake that left many underage victims’ life insurance policies meaningless, the United Evening News reported on Saturday.

About one third of the 117 killed in the quake were under 12, but the law prevents insurance carriers from paying out compensations to beneficiaries of life insurance polices if the insured was under 15.

The insurance companies only have to pay back the premiums, plus interest, as required by a law designed to prevent parents from taking advantage of their children’s life insurance policies.

But legislators have admitted that the law was introduced without foreseeing the consequences of natural disasters.  


Mark Sievers’ bond $4.43 million; children placed in residence

A prosecutor said Saturday his office is concerned the husband of a slain doctor could try to post bond by using life insurance policies that are under his wife’s name and total at least $4.43 million.

Assistant State Attorney Hamid Hunter asked Judge John Duryea to set a bond for Mark Sievers, 47, in the same amount as the policies during a court hearing Saturday. The judge granted the request. 


Sources Claim Allianz Looking for Buyers for Its South Korean Insurance Unit : Business : Lawyer Herald

Allianz, the largest insurer in Europe, has just announced that it will be selling its South Korean life insurance business. Sources with a direct knowledge on the matter have shared that this decision comes as part of the company’s global overhaul in a difficult low-interest rate environment.

Sources of the Wall Street Journal have reported that the South Korean asset is drawing in the interest of Chinese big names, much like those of Fosun International and Anbang Insurance Group. The sources share that these two companies are considering bidding for the insurance business. The asset, according to the source, is worth around $500 million. Reuters has also reported that a US-based insurer, Prudential Financial, and other domestic financial institutions in South Korea have also considering making a bid. 


Health Insurance Roundup, February 29, 2016


Hitting The Curve: How To Make High Deductible Health Insurance Plans Affordable – Forbes

In the movie, “Moneyball,” Brad Pitt sits with his baseball scouts during one particular scene discussing potential players for the next season. When a specific scout is asked which prospect he likes best, he replies, “I like Perez. He’s got a classy swing, it’s a real clean stroke.” To which a second scout quips, “He can’t hit the curveball.”

It reminds me of an old baseball adage about young batters who never make it to the big leagues. “They can’t hit the curveball.”

Health consumers have made it to The Show, and are in charge, buying health insurance on their own, more than ever before. Insurance deductibles are big and getting bigger. There is a lot of choice, not only between the number of plans available, but also choosing between a private exchange or the government exchanges, or buying directly from an insurance carrier. 


How to Pick the Best Health Insurance Plan – 5 Easy Tips

Picking a health insurance plan can be a daunting task. And yet, as more and more people switch from employer-purchased health insurance to individually-purchased health insurance, it becomes even more important to become an informed consumer. So, just how do you pick a health insurance plan? Here are 5 quick tips to help. 


South Carolina man sentenced in fake health insurance case | WSOC-TV

A South Carolina man who helped sell fraudulent health insurance policies to over 17,000 victims nationwide has been sentenced to 82 months in prison.

According to the U.S. attorney’s office in Nashville, the fraudulent plans were marketed by a Springfield company called Smart Data Solutions.

That company and related entities were liquidated by the state in 2010 after a Davidson County court found they were acting as an unlicensed insurance company and posed a significant hazard to the public.

William Worthy II of Isle of Palms, South Carolina, admitted to participating in the scheme with co-conspirators. Together they embezzled more than $5.4 million for their personal use.

Worthy accepted responsibility for more than $7.3 million of losses from the fraud. 


PML-N extends health insurance plan to AJK

Prime Minister Nawaz Sharif on Thursday said he regarded serving the masses a sacred duty and the objective of his government was only to ensure welfare of the people.

Addressing the launch of PM’s National Health Programme in Azad Kashmir, the prime minister said the scheme was a dream come true, as provision of quality healthcare to those who cannot afford it was part of his party’s manifesto. The prime minister said the programme has initially been implemented in 23 districts of Pakistan and would be extended to other areas in phases. “We believe politics is meant only to serve the masses, and we are doing it as a sacred duty,” the prime minister said, adding that a lot of work was done before the health insurance scheme saw the light of the day and was launched initially in Islamabad on December 31 last year. 


AP Poll Shows People Don’t Like Bernie Sanders’s Health Care Plan – The Atlantic

The AP recently asked 1,033 adults what they thought of “Medicare for All,” a cornerstone of Bernie Sanders’s presidential campaign.

When asked their view of “single-payer” health care—what such a system is often called—the respondents seemed to like it. “A slim plurality of 39 percent supports replacing the private health insurance system with a single government-run, taxpayer-funded plan that would cover medical, dental, vision and long-term care, with 33 percent opposed,” the AP’s Ricardo Alonso-Zaldivar and Emily Swanson write. Just 26 percent, meanwhile, support the existing Obamacare law. 


457 visa questions – documents and health insurance

I have a couple questions about the 457 visa. I’m waiting on approval from my workplace at the moment but just want to get started on my visa application so I’m ready to go.

I know I need to create an immi account and fill in the visa application form. I also know that I have to provide some references (I am able to provide 2 of my 3 references over the last 3 years), my resume, copy of my passport and my marriage certificate so I can include my husband on my application.

Is there anything else I need to provide? Do I need to certify these documents? Do I need police/health checks? Is it an issue that I can’t get all the references (I can provide copies of my contract for the time I was at the job I can’t get a reference for)? 


Rubio attacks Trump for vague health care plan | Business Insurance

Florida Sen. Marco Rubio challenged Donald Trump at a Republican presidential debate Thursday to give more details about what he would put in place of the Affordable Care Act, but the front-running businessman said only that he would allow people to buy health insurance across state lines.

“What is your plan on health care? You don’t have a plan,” said Sen. Rubio, who advocated allowing employers to give their workers tax-free funds to buy health savings accounts or private insurance. Others would be able to buy coverage with a refundable tax credit, Sen. Rubio said. 


Trump blasted for lack of detail on health insurance plan

The Republican debate that aired on CNN Thursday night saw every major candidate present the same plan for the health insurance market, but one got flack for a lack of follow-up.

All five major GOP presidential candidates were asked during the Houston meeting what they would do to improve the nation’s healthcare system. Each candidate has promised to repeal and replace the Affordable Care Act, and debate moderator Dana Bash prompted expansion on the topic. 


Look who’s talking about healthcare policy

For most of the umpteen 2016 Presidential primary debates, there was virtual silence on the subject of the Affordable Care Act. There were a few mentions on the Democratic side, but on the Republican side … crickets. This was particularly stunning given that “Obamacare” had spent nearly six years beingthe single most despised policy of President Obama by the Republican Party, so hated by the GOP that they voted to repeal it over 60 times. And yet, when it came time for the GOP debates … there was little mention of the law.

Well that was then; this is now. Discussion of the ACA, and where to go next with healthcare policy in America, has heated up tremendously on the Democratic side of the aisle, as Hillary Clinton and Bernie Sanders slug it out over whether we should stay the course by improving and expanding the ACA to achieve universal coverage, or shift to comprehensive Single Payer healthcare for everyone. 


Illinois officials say more than 1 million state residents have health insurance through programs launched by President Barack Obama’s health care law

Officials say more than 1 million Illinois residents have health insurance through programs launched by President Barack Obama’s health care law.

The number includes more than 388,000 Illinoisans who signed up during the recent marketplace enrollment period and more than 626,000 covered under the Medicaid expansion. It’s the first time the figure has topped a million.

Earlier this month, results from a federal survey showed Illinois among eight states with statistically significant coverage gains under the law. The uninsured rate among Illinois adults ages 18-64 fell from 17.8 percent to 10.6 percent between 2013 and 2015. 


thebahamasweekly.com – National Health Insurance San Salvador and Eleuthera Town Hall Meetings

The National Health Insurance Secretariat will hold town hall meetings across the Islands of San Salvador and Eleuthera throughout next week.

Ms. Damara Dillett, NHI Legal Counsel will facilitate the presentations at Rock Sound, Governor’s Harbour, Spanish Wells and Harbour Island, from February 29th through to March 2nd. The presentations are designed to inform the general public about the benefits and phases of NHI Bahamas, along with ongoing health care system strengthening. 


Car Insurance Roundup, February 29, 2016


Avast! The Admiral of car insurance has regenerated as a woman | Television & radio | The Guardian

Bad news if you’re the kind of traditionalist who thinks of the Admiral as a salty old seadog handing out no-claims bonuses hither and thither. Because, like the Time Lord of the insurance industry that he is, the Admiral is enjoying a revolutionary regeneration. It’s a biggie, for at last the Admiral is a woman. And what a woman she is, untouched by the universal fear of the first day in a new job that renders even the bravest employee too scared to go to the toilet in case their door pass doesn’t work on the way back. 


Car insurance premiums could rise as emergency fees imposed | The National

The cost of car insurance premiums could rise as a result of the introduction of ambulance services fees.

Starting on Sunday, fees will be charged to the insurance provider of the driver who causes an accident in Dubai resulting in an ambulance having to be called.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and chairman of the Dubai Executive Council, on January 27 issued a resolution on fees for ambulance services provided at the sites of traffic accidents.

According to a statement issued by Dubai Media Office, a Dh6,770 fee will be charged by Dubai Police and Dubai Corporation for Ambulance Services, for emergency and evacuation services in a traffic accident.

Mustafa Vazayil, managing ­director of insurance brokerage company Gargash Insurance, said any increase in motor insurance premiums was unlikely to take effect immediately.

“We are expecting an increase on premium rates,” he said. 


Majority of car insurance payouts are for whiplash-related injuries, it has been claimed – Irish Mirror Online

The majority of all car insurance payouts are for whiplash-related injuries, it has been claimed.

Irish Insurance Federation chief Kevin Thompson said the average payout was €15,000 which is driving up the cost of motor premiums nationwide.

He added legal costs were another serious issue for the industry as they account for 60% of all payouts when the case goes to court.

Mr Thompson said: “I’m not saying the courts are an easy touch when it comes to whiplash claims but as a society we need to decide what is the level of compensation that we want to give people.

“If we want to have reasonable awards for people in accidents then they should be compensated at a reasonable level.” 


Should you always file an insurance claim after a car crash? | News, Weather, Sports, Breaking News | KOMO

When you get into a car crash or your car is damaged by someone else, the first reaction for most people is to call their insurance company. But it turns out that’s not always a good idea.

It might seem counterintuitive, especially since most of us are required to pay hundreds of dollars a year for car insurance, but sometimes filing a claim can cost you more in the long run.

For most car owners, insurance is something you pay but hope you’ll never need. If there’s a crash with extensive damage, of course you should make the call. But what if repair costs are relatively low — say, a few thousand dollars? 


Check out our N Charlotte Toyota tips for new car owners | WSOC-TV

Are you the proud new owner of a N Charlotte Toyota? Congratulations! The hardest part – shopping for and buying the car – is over! Now you can sit back and relax behind the wheel of your new ride. However, just because the hardest part is over doesn’t mean that your work is entirely done. There are certain things you should do as a new N Charlotte Toyota owner to keep your ride in top-notch condition, and we’re here to discuss them!  


Google products you didn’t know existed – Tech Insider

Google just shut down its “Compare” tool that let you get price quotes about car insurance or mortgages.

But fear not! There are still a bunch of other random, often hidden, but really useful Google products that you probably didn’t know about that you can still enjoy.

With more than 60,000 employees, Google has the resources to build nifty services to supplement its search engine and other big businesses.

From secret timers to font libraries, here are some of the other coolest, lesser-known things that Google has on tap: 


The flaws in ‘Republicare’ are something we can all get behind – Dave Ross | MyNorthwest.com

At Thursday’s debate, we finally got the outline of a Republican replacement for Obamacare.

Marco Rubio said your company would give you what amounts to healthcare bucks.

“And you can use that money only for healthcare, but you can use it to fund healthcare any way you want; or, a private plan from any company in any state in the country,” he explained. “And if you don’t have that you would have a refundable tax credit.” 


Frank Algiere: If you want to drive, you should obey the laws – Opinion – providencejournal.com – Providence, RI

With reference to “Undocumented seek the right to drive legally” (news, Feb. 25), I think we are losing sight of the forest because there are too many trees in the way.

First of all, driving in this country is a privilege, not a right. If you abuse that privilege by driving drunk or irresponsibly then the government takes that privilege away.

Secondly, let’s call a spade a spade. An “undocumented” alien is an illegal alien. If you would like to be extended the privilege to drive in Rhode Island or any other state in the union, then you should become an American citizen and apply for a license. 


Stay brain fit | Business Standard News

The bank account number. The net banking password. The personal identification, or PIN, number to access the ATM. The personal email user name and password. The office email user name and password. The user name to recharge the cable subscription. The password to pay the property tax. Or, the phone bill. Or, the electricity bill. The date the car insurance expires. The date the life insurance premium is due.

The lives we lead today are governed by a maze of numbers, codes and passwords, many of which only we know or have access to. Now, imagine one day the memory begins to fail. The numbers begin to slip out. And the passwords become elusive. It’s a terrifying thought. 


Life Insurance Roundup, February 26, 2016


MetLife, known for life insurance, may part with its agents – US News

MetLife is in talks to part ways with the life insurance agents who long defined one of the world’s biggest life insurance companies.

The unit that the company is in talk to sell, known as MetLife Premier Client Group, has 4,000 agents who sell a number of policies, including life insurance, to individuals and small businesses, according to a Securities and Exchange Commission filing. The New York company also sells insurance in other ways, including through independent agents and brokerage agencies. It has a total of 69,000 employees. 


Re-evaluating Your Life Insurance Needs – NerdWallet

Buying life insurance gives you the security of knowing your family could carry on financially if you died. But be careful not to let that peace of mind lull you into a sense of complacency forever. As your financial life changes, so will your insurance needs.

After you buy a life insurance policy, it’s a good idea to re-evaluate your coverage every few years, especially after major life changes, such as marriage, divorce or having children.

Here are some of the changes you could make after reviewing your need for life insurance. 


Axa Full-Year Profit Rises 12% on Life-Insurance Premiums – Bloomberg Business

Axa SA, France’s largest insurer, said 2015 profit rose 12 percent, helped by higher life-insurance sales in Europe and Asia. The shares rose.
Net income climbed to 5.62 billion euros ($6.2 billion) from 5.02 billion euros a year earlier, the Paris-based company said in a statement on Thursday. That beat the 5.39 billion-euro average estimate of eight analysts surveyed by Bloomberg. The shares rose as much as 4.1 percent in Paris and were trading at 20.1 euros at 09:35 a.m.
Axa, led by Chief Executive Officer Henri de Castries, has grown in emerging markets from China to Colombia over the past five years. Earnings at the life and savings division, the company’s largest, rose 12 percent to 3.5 billion euros, helped by higher sales of health-protection policies. The insurer plans to pay a 1.10-euro dividend per share, up 16 percent from the previous year. 


Senate passes Lizbeth Benacquisto bill to reform life insurance payouts – Florida Politics

A bill that would require insurers to take a more proactive stance on paying out life insurance benefits cleared the Senate Wednesday with a unanimous vote.

SB 966, sponsored by Fort Myers Republican Sen. Lizbeth Benacquisto, would require insurers to compare their policy rolls with the Social Security Administration’s Death Master File and payout benefits. Current law allows insurers to wait until beneficiaries contact them before verifying deaths and doling out benefits.

“In this country many people buy life insurance to protect loved ones, should they pass away unexpectedly. Losing a loved one can be very difficult, and life insurance policies can help pull families through tough times. Many life insurance companies have held onto policy benefits until they are contacted by a beneficiary. If never contacted, the company never pays the benefit,” Benacquisto said. “I think they should be proactive about making sure the benefit is paid when one of their policy holders has passed. In these difficult times, taking steps to help return unclaimed accounts to consumers could help millions of families.” 


How to re-evaluate your life insurance needs – CSMonitor.com

Buying life insurance gives you the security of knowing your family could carry on financially if you died. But be careful not to let that peace of mind lull you into a sense of complacency forever. As your financial life changes, so will your insurance needs.

After you buy a life insurance policy, it’s a good idea to re-evaluate your coverage every few years, especially after major life changes, such as marriage, divorce or having children.

Here are some of the changes you could make after reviewing your need for life insurance. 


Budget 2016: An opportunity to transform life insurance industry

Union Budget 2016 can transform the life insurance industry in the country. Life insurance Companies have played a major role in the development of the country. Life Insurance sector has supported the Government’s various developmental activities, be it in providing capital for infrastructure projects or through the implementation of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). There is a need for providing more impetus to life insurance companies for enhancing life insurance penetration in the country, especially when we do not have a social security system in place. To boost the number of people who will buy PMJJBY, the Government should look into increasing the death benefit beyond Rs. 2 Lakh. A benefit of Rs. 5 Lakh will get more people interested in buying the product. Appropriate safeguards and pulling needs to be in place to make this scheme sustainable. 


House Democrats advance unclaimed life insurance bill | State News | bgdailynews.com

Kentucky House Democrats advanced a bill to strengthen the reach of a life insurance law that suffered a setback when Republican Gov. Matt Bevin’s administration dropped its defense of the statute in a court case.

Supporters said Wednesday the bill could help people collect benefits owed them from life insurance policies they didn’t even know existed by requiring insurers to make “good faith efforts” to locate them.

The measure cleared the House Banking and Insurance Committee with solid support from Democrats. A couple of Republican members voted for it, but most GOP lawmakers abstained from voting.

The legislation seeks to amend the state’s 2012 Unclaimed Life Insurance Benefits Act to clarify that it applies to life insurance policies written before the law took effect.  


Birla Sun Life Insurance’s new TVC takes forward the ‘Khud Ko Kar Buland’ philosophy

Birla Sun Life Insurance (BSLI) has launched the second leg of their campaign under the ‘Khud Ko Kar Buland’ core brand philosophy. The ad conceptualised by Taproot Dentsu India narrates the story of a man and his endearing relationship with his boss. It highlights the message of how to face challenges life throws at you and never to accept defeat. 


Why life insurers reject accident claims citing breach of law | Business Standard News

Nilesh Sathe, member-life, Insurance Regulatory Development Authority of India (Irdai), at a recent seminar on claims management, voiced a concern that would bother many policyholders – the lack of uniformity in the way life and non-life insurance companies handle accident claims. In the past, there have been cases where life insurance companies have rejected accident claims because the victim died while crossing railway tracks citing breach of law and such cases have gone to court. But a general insurance company would pay the claim of this nature. “This dichotomy in the way life and general insurers look at accident claims was causing confusion to policyholders, Sathe said. 


Health Insurance Roundup, February 26, 2016


Is Your Company Using Health Insurance Premiums To Stigmatize Fat Employees? – Forbes

Many companies spend lots of money providing health insurance coverage to their employees. And the costs of that coverage continue to rise, in part because the girth of the American public is also rising. Overweight and obese employees cost companies money, through increased sick leave, disability claims and, of course, healthcare expenses. As a result, some companies levy additional insurance premiums for overweight and obese employees, both to encourage them to lose weight and also to cover the greater expected costs of their benefits. Are such premium hikes fair? Do they unduly stigmatize obese employees?

Consider two companies. One raises health insurance premiums for obese employees; the second offers a discount on health insurance premiums for employees who are not obese. Is the second company’s policy fairer? 


NATIONAL HEALTH INSURANCE: Details on NHI expected shortly | Health | BDlive

THE Treasury will “shortly” release further details on its financing proposals for the National Health Insurance (NHI), the government’s ambitious plan to reform healthcare, it announced on Wednesday.

Health Minister Aaron Motsoaledi released a White Paper on NHI in December but the policy contained only the broadest brush strokes on the financing aspects of the plan.

Finance Minister Pravin Gordhan emphasised the government would not embark on any policy initiatives it could not afford. “There is no intention to delay NHI but we will only do things we can afford to do, whether it is NHI, nuclear or any other projects,” he said ahead of his budget speech. 


Health Beat: Let’s Reconsider That ‘Public Option’ For Health Insurance – Civil Beat News

With the onset of the Affordable Care Act, everyone was mandated to have health care coverage or pay a penalty. As a result, 17.6 million more people have health insurance.

You can’t turn on the television without hearing Republican criticism of Obamacare, and yet no one has a plan that seems to be any better.

Maybe one improvement would be to reconsider the “public option” that was taken out of the ACA before it was passed. It would have created a Medicare-like health insurance policy that most U.S. residents could purchase as an alternative to buying policies from private health insurers. 


Local agents say insurers cutting down health insurance commissions | News – Home

Independent insurance agents in the El Paso region are getting a new notice: They won’t get a commission anymore for selling certain health insurance plans. ABC-7 spoke to one such agent concerned about the impact to his business and customers.

Richard Madrigal has been in the insurance business for more than 40 years.

“The last couple or three years with this Obamacare, the changes have been humongous,” Madrigal said. “You have to be abreast of it. If not, you’re going to miss everything that’s going on.”

Madrigal said he’s kept up with the latest, but a change announced on Tuesday could force him out of the personal health insurance business entirely.

“They emailed us from Blue Cross/Blue Shield at 2:16 p.m., that they were cutting commissions on the agents on any individual under the age of 65 on a medical policy,” Madrigal said. “Whether it was marketplace or off market, effective April 1, no longer were we going to receive commissions.” 


Tax season complicated by new health insurance forms; Deadline March 31 to get forms; April 18 is tax filing deadline

Employers and health insurance companies must supply millions of Oregonians with two new tax forms this year, and — to further complicate the matter — they can wait to send the forms out until about two and a half weeks before the 2016 income tax filing deadline.

“The whole health plan and everything has just been a pain the rear,” said Rickie Joen, a licensed tax consultant with Freedom Tax Services Inc. in Bend. “I would love for it to go away for the tax purposes.”

The new forms are the 1095-B, which health insurance carriers and small businesses will send to people they provided coverage for, and the 1095-C, which businesses with 50 or more employees will send to those who they provided health insurance coverage to in 2015. The IRS announced in December 2015 it would extend the deadline for employers and carriers to get those new forms in the mail, from Feb. 1 to March 31. The tax filing deadline is April 18. 


Are Health Insurance Costs a Tax Write-Off?

Tax season is in full swing. As a business owner, it is smart to evaluate all tax write-importanceofemployeebenefits-1.jpgoffs, deductions, and credits available. So, what about health insurance? Can health insurance costs be a tax write-off? In some cases, yes. In this article, we’ll summarize tax advantages for various small business health insurance scenarios.

Health Insurance Tax Deductions for Businesses

When your business offers a formal health benefit plan, or formal contribution to employees’ healthcare costs, the expense can generally be written off as a business deduction.

Common types of benefit plans and contributions that are tax-deductible to the business: 


Health Insurance in Africa? There Should Be an App for That

Right now health insurance in Africa constitutes a tale of two continents. The very affluent can take advantage of private insurance with top-tier doctors and hospitals. However, many families rely on crowded state-run facilities, with long wait times and not always the best of care or they have to pay out of pocket for medical services. The current situation leaves a huge gap in the middle. In order to make a difference different parties need to unite and start utilizing technological advances that exist in today’s marketplace.

The market for healthcare in Africa is worth some $35 billion, according to McKinsey. About half of Africa’s health expenditure is estimated to come from out-of-pocket payments. With patients paying over the counter, a sudden health crisis can cause severe financial hardship for families. And the cash economy can allow counterfeit medicines and unlicensed dispensaries to flourish. 


Swiss 2016 health insurance refunds. Do you live in one of the lucky cantons?

Last week Switzerland’s federal administration published this year’s health insurance refunds. The largest sums were awarded to the residents of Geneva and Vaud. 


Medicare for all? | The Health Insurance Guys | napavalleyregister.com

Dear Tom and Alan:

I was watching the Democratic debates last night from Wisconsin (Feb. 11).

Bernie Sanders was promoting his idea of “Medicare for all,” while Hillary Clinton was saying “we’re not England or France” and that his idea wouldn’t work here.

Bernie is promising big annual savings for the middle class, Hillary wants to expand Obamacare. Any thoughts?

Citizen X 


Landry pushes report on retiree health insurance – The Andover Townsman: Local News

Two members of the Board of Selectmen lashed out at colleague Bob Landry last week, calling him “rude” for wanting the board to consider a report he wrote on retiree health insurance in advance of the release of a subcommittee’s report on the same subject.
Landry, a health insurance specialist, said he was tired of the delays that have beset the so-called OPEB subcommittee. OPEB stands for Other Post-Employment Benefits and refers primarily to retiree health insurance costs. The subcommittee was appointed last year to come up with recommendations on how to resolve what some have called a pending crisis.
“I’d like to ask that OPEB reform be added to our agenda for the first meeting we have in March,” Landry said at the board’s Feb. 16 meeting, hoping that the board would take up the report he has written on the subject.
But Selectman Paul Salafia took exception to Landry’s request. 


Car Insurance Roundup, February 26, 2016


Cheapest Car Insurance in Georgia – NerdWallet

Finding cheap car insurance in Georgia can be quite a challenge. Insurance costs can vary wildly depending on your age, gender, credit history, driving record, where you live and other factors. Prices can differ dramatically from one insurer to the next for seemingly no reason at all, which is why shopping around and comparing quotes is worth your time.

To help drivers find cheap car insurance in Georgia, NerdWallet researched the two cheapest car insurance options in the state for the following categories: 


Car insurance policy: Tick the right boxes | The Indian Express

It’s raining new car launches this year. However, while driving home the new car people often pay little attention to the car insurance they opt for. While it comes at a miniscule cost compared to the car’s price, the features of the policy one opts would be of immense value in the years to come. Gone are the days when car repair bills would cause a dent on one’s pockets as the standard motor insurance policy would be limited to damage caused to the vehicle, within the limits of depreciated value of the vehicle, apart from the third party damage.


U.S. Census Bureau Daily Feature for February 26: Car Insurance — WASHINGTON, Feb. 26, 2016 /PRNewswire-USNewswire/ —

Car insurance is both required and a major item in the budget of many households. The idea of insuring cars against accidents began this month in 1898 when the Traveler’s Insurance Company issued a policy to Dr. Truman Martin of Buffalo. His policy cost $12.25 and gave him $5,000 in coverage. Martin was chiefly concerned about accidents between his automobile — one of fewer than 4,000 in the entire country at the time — and horses, which numbered about 18 million on farms alone. Now, cars and trucks vastly outnumber horses. There are nearly 14,000 property and casualty insurance firms in the U.S., and over $109 billion worth of insurable automotive assets are manufactured annually. You can find more facts about America from the U.S. Census Bureau online at http://www.census.gov. 


Romania’s financial regulator finds problems with car insurance premiums

Romania’s Financial Supervisory Authority (ASF) has found several irregularities in the way local insurers have been calculating their premiums for the mandatory car insurance – RCA.

The institution has given these companies 30 days to fix the problems. The insurers include Generali, Groupama, Allianz-Tiriac, Asirom, Omniasig, Uniqa, and Euroins.

They need to analyze the methods used in calculating their tariffs and justify them. The companies should then notify the Financial Supervisory Authority on their new tariffs. 


Essential Car Insurance For Auto Body Repairs – TheStreet

If you’ve dented your bumper, developed deep paint scratches or otherwise damaged your car, you may be surprised to discover that the cost to repair auto body mishaps can range between $50 to $1,500, and more.
Cars today are lighter, safer and get much better gas mileage. However, newer manufacturing technology also makes auto body repairs a lot more expensive.
Review five common scenarios that lead to auto body repairs and understand the auto insurance coverage you should have in place before they happen. 


Peterborough-based car insurance broker creates 16 jobs – Rutland and Stamford Mercury

Sixteen jobs are being created at a Peterborough firm.

Online car insurance broker Coverbox, which has its head office in Thorpe Park, is recruiting the extra staff as part of its 2016 growth and development plan.

Andrew Bennett, chief executive of the firm which employs 48 people, said: “We have invested a great deal of time and effort in developing and deploying technology which will cut the price of insurance to drivers, and bring down the cost of providing insurance and managing claims in the industry,

“In parallel, we have worked hard to grow the business, with significant expansion of the number of policies sold – and we are establishing a presence in a sector of the car insurance market which is forecast to grow strongly. 


Why it isn’t always wise to file a car insurance claim

It’s generally assumed that insurance rates will go up after you have an accident and file a claim, but by how much? More than you might think, according to a report by insuranceQuotes.com.

The survey found the average driver will face a 44% rate hike after a single claim of over $2,000.

The biggest increase would come if you happen to live in California. There, a driver making a first claim would face an average increase of 78%. Massachusetts and Wisconsin are nearly as expensive, with average rate hikes of 67% and 54% respectively.

On the other hand, claims are less expensive for drivers in Maryland, Michigan, and Oklahoma, who see their rates rise between 22% and 25%. 


Saving On Car Insurance – A New Guide Gives Important Insight! | news.sys-con.com

Saving money on auto insurance is a main concern for many drivers. Everybody wants to pay less on premiums, but few know how to achieve the desired effects. In some states, auto insurance can be very expensive. Knowing the tips presented in the newly released guide can help many drivers achieve the best financial security for their cars.
Information can help you save money
Unfortunately, many drivers do not know enough about auto insurance. Few customers know exactly what determines premiums and what are their options. A minority are aware of the required minimum vehicle coverage in their areas. Learning about car insurance can open a lot of opportunities for finding cheaper coverage. 


ASA Announces First Car Insurance Policy for Lyft Drivers in California Paves the Way – EIN News

Dave Jones, California insurance commissioner, approved the first policy for Lyft drivers with a passenger in the vehicle. The policy covers drivers who work for Lyft and are carrying a passenger in their vehicle. The decision could pave the way for other states to follow suit and increase the options of coverage for those who drive for companies like Uber and Lyft.

The policy specifically covers a driver who has accepted a passenger or picked them up, which was a period only covered by the company before. Drivers in California must have coverage at all times when they are working for app-based ride booking companies like Lyft and Uber. California law, like many other states, requires the driver to be insured but doesn’t state who must pay for the insurance. It can be provided by the driver or the company or by both. 


Everything You Need to Know About Short-Term Auto Insurance – Quoted

Short-term auto insurance covers drivers in special situations. Even regular auto insurance policyholders might sometimes need additional short-term auto insurance, depending on the circumstances.

Short-Term Auto Insurance: What It Is and When You Need It

Short-term auto insurance, also called temporary car insurance, is coverage that lasts between one and 28 days, depending on your needs. There are subcategories of short-term insurance, too, including rental car insurance and non-owners insurance. 


California Auto Insurance Is the Worst After an Accident Claim, Report Says | L.A. Weekly

If you think insurance companies ream you after a car accident, you’re right.

It’s a head-scratcher: You pay, what, a hundred bucks and change each month for auto coverage, basically for nothing, and the minute you get in a collision you pay again.

In fact, California is the worst state in the nation for post-accident premium increases, according to a new report from website insuranceQuotes and data partner Quadrant Information Services.

The average premium increase after a claim in which you’re at fault is a nation-leading 78 percent in the Golden State, the report found.

“We set out to answer these questions, ‘How much do auto insurance premiums go up after just one $2,000 claim, and which states see the biggest rate hikes in 2016,'” an insuranceQuotes spokeswoman told us. “California drivers see a whopping 78 percent increase in their rates after one claim — the highest rate increase in the country.” 


Life Insurance Roundup, February 25, 2016


Pattie Lovett-Reid: You might need this even more than life insurance – BNN News

We often talk about the importance of life insurance, but some would suggest disability insurance that protects you financially against an accident or life-threatening disease is even more important.

An often quoted statistic highlights that a typical 30-year-old has a four times greater chance of becoming disabled than he does of dying before the age of 65. And it is estimated that one in six will be disabled for three months or more before the age of 50.

If you think about it, we likely all know someone who has been impacted in this way. Disability insurance can often be overlooked due to the “probability factor” — something isn’t going to happen to me. But the reality is it could happen to you when you least expect it. Being off work due to a disability can have a huge impact on both your emotional and financial well-being. 


A.M. BestTV: Life Insurance Settlement Industry Explores New Markets – Yahoo Finance

This A.M.BestTV episode spotlights the recent Life Insurance Settlement Association’s (LISA) Institutional Investor Conference, held in New York, NY, where executives said they have seen a growing interest from institutional investors in the life settlement market. Click on http://www.ambest.com/v.asp?v=lisa216 to view the entire program.

The industry is finding new growth as institutional investors and insurers look to retiring life insurance policyholders and other markets.

“The current market has changed a lot, as it is a much more highly regulated market today,” said Darwin Bayston, chief executive officer, LISA. “There are regulations in 42 states, regulations that provide consumer disclosures in six states and LISA members have to file an ethics statement stating that they have abided by rules, regulations and laws every year … so it is a much safer market today for consumers to sell their life insurance policies.” 


House Democrats advance unclaimed life insurance bill | Lexington Herald-Leader

Kentucky House Democrats advanced a bill to strengthen the reach of a life insurance law that suffered a setback when Republican Gov. Matt Bevin’s administration dropped its defense of the statute in a court case.

Supporters said Wednesday the bill could help people collect benefits owed them from life insurance policies they didn’t even know existed by requiring insurers to make “good faith efforts” to locate them.

The measure cleared the House Banking and Insurance Committee with solid support from Democrats. A couple of Republican members voted for it, but most GOP lawmakers abstained from voting.

The legislation seeks to amend the state’s 2012 Unclaimed Life Insurance Benefits Act to clarify that it applies to life insurance policies written before the law took effect. 


Union Budget 2016: Salaried class demands separate deduction limit for life insurance products | Zee News

With just less than a week remaining for the Finance Minister to present the Union Budget for 2016, the common man has started building up expectations from the Narendra Modi-led NDA government at the Centre.

Union Budget 2016: Salaried class demands separate deduction limit for life insurance products Section 80C allows deduction up to Rs 1.5 lakh in respect of payment of premium under life insurance policies and for other specified payments. 


Life insurance association contributes to society through education

The Korea Life Insurance Association is running a string of educational programs for young people.

One is an insurance class in which educators visit elementary, middle and high schools across the nation. According to the Life Insurance Social Contribution Committee, the educators teach students about financial insurance through easy texts and board games.

The committee said some 24,000 students at 111 schools across the country have joined the classes and the number will increase to 30,000 students this year.

There will also be a nationwide musical tour to interest students in insurance. It will include two musicals ― “Captain Guardian” for elementary school students and “Daddy Long Legs” for middle and high school students. The musicals will be staged 180 times this year. Last September, “Daddy Long Legs” won an award presented by the governor of the Financial Supervisory Service. 


Legal and General refused £130k life cover claim of woman who is dying | This is Money

Violeta Beaver has less than six months left to live.

This is written down in black and white in a letter from her cancer specialist.

Yet insurance giant Legal & General claimed it knew different, as its medical experts — who had never met Violeta — said she might live longer.

And until the company was satisfied the 63‑year-old would not survive for longer than 12 months, it would not pay out the £130,000 she was owed under the terminal illness clause of her life insurance policy. 


Insurance scheme for poor haunted by flood of claims | business | Hindustan Times

More than 30% life insurance claims in a social security cover that Prime Minister Narendra Modi launched in 2015 were made within the first 30 days of a person joining the scheme, industry data show.
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), an insurance cover for less than Rs 1 a day, collected premium of about Rs 970 crore till the first week of January while more than Rs 190 crore was paid in claims, which means an outflow of 19.6%.
It was launched in May 2015.
Sources said revised data reflect a larger claim ratio, likely to be significantly higher than 19.6%.
This is a worrying sign since less than 1% claims comes within the first month for regular life insurance policies.
The finance ministry at a meeting asked insurers to present more data and facts to help assess the claim pattern, sources said. 


Seeking Life Safety With Life Insurance Wellesley – Press Release – Digital Journal

With life being so uncertain and cruel at times one hardly knows what one will come to face just round the corner. One cannot be certain of life, but one can be certain of one thing and that is the life that the person’s family members will be living after them. With a life insurance Wellesley coverage, it is easy for anyone to safeguard the future of their loved ones. Parents can make the future of their children safe with a life insurance policy. It can fund a child’s education or be the sustenance for parents and partners left behind. Remsen Insurance Agency Inc., is one family owned and operated agency that helps find the best life insurance Wellesley. 


Telenor users get free life insurance cover, first cheque issued in Gujarat | DeshGujarat

Telenor India has launched ‘Telenor Suraksha’, free insurance cover for all its over 2.8 million users, 1.3 million of which have already got insured. Scheme is open for potential Telenor customers. Telenor settled the first insurance claim for Gujarat circle recently for a customer in Surat city.

Across six circles, 18.2 million users have enrolled for insurance under Telenor Suraksha and 9.8 million customers are already insured.

Telenor users can avail this service by calling customer service centres or dial the self-help menu *121# or opt-in for it by approaching any of the 48000 point of sale or 320 Retail Stores. For every recharge done by the customer, a 100X insurance cover will be provided to him up to a maximum of Rs 50,000. For customers availing this offer, there is no separate documentation required.

Industry estimates show that currently less than 4% of India’s population has an insurance cover of any type. The primary reasons for the low penetration are issues like lack of awareness, cumbersome enrolment process, cost of insurance and lack of trust. Lack of distribution network has also restricted insurance products becoming popular and pervasive. 


Comarch implement comprehensive Life solution for Swiss Re

‘We needed a solution that brings us closer to our clients in an efficient manner. It’s essential that it is easy for our clients to manage their contracts, and that their employees can stay up-to-date on their policies and manage their investment on their own. In addition, we needed a solution to streamline internal processes, help us become more efficient and support future growth. The Comarch system offered an A to Z solution that fitted our needs’, says Theo Iaponas, Head of Corporate Clients business at Swiss Life Luxembourg.

The solution covers all life and pension insurance processes end-to-end, including new business processes, contracts and claims management, as well as management of their clients and insureds. It handles all types of contracts like defined contributions or defined benefits, various financial vehicles including unit-linked, and different methods of payouts like annuities and programmed withdrawals. Besides, the solution includes a self-service online portal for all group life insurance participants who can manage their coverage and investments without the need of contacting the insurer’s customer center. 


Allianz seeks buyers for South Korean insurance unit: sources | Reuters

Europe’s largest insurer Allianz (ALVG.DE) has put its South Korean life insurance business on the block as part of a global overhaul in a tough low-interest rate environment, sources with direct knowledge of the matter said.

The South Korean asset is attracting interest from Chinese names such as Anbang Insurance Group and Fosun International (0656.HK) who are considering bidding, said the sources. One of the people said the asset is valued at $500 million.

U.S. insurer Prudential Financial (PRU.N) and domestic South Korean financial institutions are also examining making a bid, one of the sources said. The sources declined to be named because the talks are confidential.

An Allianz spokesman declined to comment on whether the Korean operations are up for sale. Fosun and Anbang declined to comment. Prudential Financial did not offer an immediate comment. 


Health Insurance Roundup, February 25, 2016

Health insurance: the real problem—-commentary

Asking everyday Americans to navigate health insurance is like asking passengers to fly the plane. Without proper education and access to information, it’s nearly impossible to avoid turbulence along the way. 


5 things: Portsmouth ex-worker health insurance; Oceanfront employee parking permits; Norfolk treasurer’s trial | Local News | pilotonline.com

Johanna Somers writes that the city paid toward health insurance for some former employees for seven years. 


Michigan Legislature votes to continue health insurance tax – Washington Times

Michigan’s tax on health insurance would continue into 2020 under legislation approved Wednesday by the Legislature, the latest in a long-running series of moves to guarantee that the state still qualifies for federal Medicaid funding.

The final votes in the Republican-led Senate and House came despite objections from the politically influential state Chamber of Commerce, which has called the bill a “giant tax hike.” GOP Gov. Rick Snyder is expected to sign the measure, which he advocated last year partly as a way to lessen pressures in the state’s general fund when money is shifted to road spending in coming years. 


Wise-up Wednesday from Zane Benefits: How much will individual health insurance reimbursement cost your dental practice? – DentistryIQ

Researching health benefits for dental practices often starts with group health insurance quotes, reviewing different carriers, coverage levels, and costs. But if you’re in sticker shock or a group policy simply is not a good fit, what are your options? Here’s a savvy approach many smaller dental practices are taking—don’t offer group health insurance coverage. Rather, offer a formal benefit program to reimburse employees for individual health insurance policies. 


Indian expats in the UAE can get health insurance for families back home – Healthcare – ArabianBusiness.com

Indian residents in the UAE can now provide health insurance for their families back home, reported The National newspaper.
This is due to a collaboration between the UAE’s Aster DM Healthcare and RAK Insurance which offers policies costing between $61 (AED 225) and $1,034 (AED 3,800) a year for a primary member. The policies cover care at 5,500 hospitals in India.
The primary member can add a spouse, children, parents and in-laws who reside in India. While the cut-off age to add family members is 70 years, the plan can be renewed until a member is 75 years. 


Bill sets minimum commission for health insurance agents | www.ajc.com

Insurance agents who sell group health policies would be guaranteed a minimum 5 percent commission under legislation the Georgia House approved Wednesday.

House Bill 838, by Rep. Shaw Blackmon, R-Bonaire, sets the premium commissions for agents who sell group health policies as well as a 4 percent minimum commission for individual health benefit plans.

“We’re noticing that some of the carriers are in fact eliminating the premium part that they’re sending to their local agents,” Blackmon said. “We’re creating a floor.” 


Health insurance savings boost Norwood budget – News – Norwood Bulletin – Norwood, MA

Changes to the Group Insurance Commission have resulted in budget savings for Norwood, as fewer employees are taking the health insurance.
“Because the Group Insurance Commission changed some coverage last July, a bunch of people migrated and took their spouse’s insurance,” Town Clerk & Accountant Tom McQuaid said at the Feb. 22 Budget Balancing Committee meeting.
According to an estimate by Assistant Town Manager Bernie Cooper, this should save the town $500,000 in budget costs during the current fiscal year. Selectman Bill Plasko initially suggested that this money be used to fund a $150,000 building study, with the remainder split between the schools and general government departments. 


Health insurance policy to remain the same – Daily Times Chronicle: Burlington

After mulling the matter for months, the Board of Selectmen voted against a motion to change the current health insurance policy for elected officials. The official vote was 1-4-0; Chair Mike Runyan was the only member to vote in favor.
With Town Meeting passing a resolution to discontinue health insurance benefits for part-time elected officials in an effort to save money, the Selectmen had a very important and impactful decision to make last night regarding whether or not they wanted to move forward with the policy as currently constituted. The Selectmen are the only governing body able to take action on the health insurance matter, per state law. 


Health Insurance Premium Tax Credit Income Limits – What are They?

The health insurance premium tax credits can make individual health insurance more affordable for many Americans. You are eligible for a tax credit if your earnings fall between certain income limits and you are not offered qualified, affordable coverage through an employer or government program. In this article, we’ll take a look at the health insurance premium tax credit income limits in 2016. 


Medicaid is choice for most health insurance enrollees in NY | Newsday

More than 2.8 million New Yorkers have signed up for health insurance on the state’s exchange, more than two-thirds of them on Medicaid, according to the state Department of Health.

As of Jan. 31, the end of the 2016 sign-up period, total enrollment was 2,833,823, the health department said in a news release on Tuesday. 


Local CPAs helping clients navigate health care rules | The Herald Journal | news.hjnews.com

A 2015 WalletHub study ranked Utah 15th highest among all states on the percentage of residents who do not have health care (about 12.5 percent).

Those uninsured residents are facing new challenges during tax filing season this year because they are paying a penalty for not having it under the federal Affordable Care Act, more commonly known as Obamacare.

“The complexity of picking an insurance (product) as well as reporting it on their taxes make it difficult for people to comply with that,” said Troy Martin, a certified public accountant and shareholder for Cook Martin Poulson PC in Logan.

With health insurance expenses ranging based on number of family members and income level, many may not feel the need to fork over money for health insurance, but they pay a penalty for it later, said Bob Thomas, a tax partner at Jones Simkins in Logan. 


You Never Knew Your Insurance Covered These Things • Mirror Daily

Dental care is the most sought out insurance option. And US citizens tend to think that an average insurance covers basic survival needs while the fanciest ones include dental. But people tend to ignore other benefits like chiropractic services, massage therapy, acupuncture, and hair prosthetics and even gender reassignment surgery. You never knew your insurance covered these things.

The costs of medical care and services in the United States are through the roof. But Americans tend to complain about the medical system and the insurance policies before even studying them more carefully.

For example, there are a lot of future mothers in the US that don’t know that they could get their child screened for autism at the tests are covered by their insurances. 


Clairfield man fights for health insurance | LaFollettePress.com

On a February morning in 2010, Bruce Parks, of Clairfield, had a massive heart attack that nearly killed him. Out of work and unable to pay his bills, Parks lost the home he loved. 


Car Insurance Roundup, February 25, 2016


Car Insurance For Divorced Parents Of Teen Drivers – Forbes

From juggling carpool schedules to keeping track of belongings and homework, many of life’s details require extra coordination when kids go back and forth between two households.

If your kids drive, getting the right car insurance coverage is one task you don’t want to get lost in the shuffle. Here’s what you need to know as a divorced parent about car insurance for teens. 


NM auto-insurance rates relatively low | Albuquerque Journal

Even though car insurance rates are expected to rise about 3 percent this year nationwide, the amount New Mexicans currently pay is relatively low compared to many other states.

New Mexico is ranked No. 28 for the average premium cost on a full-coverage policy, according to a 2015 Insure.com study. Drivers shell out an average of $1,237, compared to the national average of $1,311 a year. The study averaged rates for the 20 best-selling vehicles in the U.S.

New Mexico ranks even better when it comes to how much premiums go up after an insured person files a claim, according to a report just released by InsuranceQuotes.com. 


Shop Around For Car Insurance By Comparing Free Online Auto Insurance Quotes! | Virtual-Strategy Magazine

How to get multiple auto insurance quotes?

http://bestauto-insurance.us/ is a professional brokerage website that has important contacts in the insurance world. Clients can compare quotes on the website by following two simple steps:

Enter the ZIP code. Location is always important when shopping for auto insurance. The ZIP code allows brokers to track plans that are available in the client’s area. The area also determines car insurance costs.

Complete an online quote form. The online quote form has to be completed with information about the vehicle that needs coverage. The applicant also has to answer a few yes/no questions. All of these details will help brokers properly adjust rates for each customer.

Clients can also customize their searches by selecting what type of car insurance they want and how much benefits it should carry. 


Get a Car Insurance Dedham to Ward Off Bills in the Event of an Accident – Press Release – Digital Journal

For all car owners who think that getting a car insurance Dedham is a wastage of time and money, need to think twice. For many years, this has been an accepted notion because the importance of an auto insurance has never been properly highlighted. With the coming of Remsen Insurance Agency Inc., in the scene, the entire picture has changed. More and more car owners have started realizing why it is mandatory to secure a car insurance Dedham at the very instance one brings a car home. In the opinion of the experts working with Remsen Insurance Agency, a car insurance is a must as much as a life insurance Wellesley is. 


Important Tips That Will Help Drivers Get The Best Car Insurance Quotes! | news.sys-con.com

To find the best car insurance quotes a driver must have a low insurability risk and use professional brokerage websites that have important contacts in the industry. all agencies will determine costs based on the insurability risks of a driver. Quotes use the same principle to estimate prices.
Getting a quote is the only way to find exactly how much a policy would cost. Drivers can now get multiple quotes online, on a single brokerage website. Comparing plans is a lot easier now as a single website can show offers from multiple competitors. Clients can compare quotes for free and without having to register anywhere. 


Erb and Erb now offers insurance coverage for Uber drivers – Kitchener-Waterloo – CBC News

A local broker is offering a new insurance policy for anyone operating as an Uber driver, even though the ride-sharing service and others like it remain illegal in Waterloo Region.

Kitchener-based Erb and Erb Insurance Brokers began selling the insurance, developed by Aviva Canada, on Feb. 1 for anyone carrying passengers for a fee.

That means Uber drivers will at least be able to operate with insurance, as they wait for the region to regulate ride-hailing services.

“The last thing you want to do in get into a car with someone who doesn’t have that coverage,” Michael Brattman told Craig Norris, host of CBC Radio’s The Morning Edition, on Wednesday. 


Why Millennials Aren’t Buying Insurance—And Why They Should – Times of San Diego

Do you remember the classic film Ferris Bueller’s Day Off? We all cringe when Cameron famously “goes berserk” and kicks his parents’ Ferrari into the ravine. When I saw the film for the first time, there’s no doubt it made me think about how much trouble I’d be in if my parents’ shiny car had been damaged. 


The Most Expensive 2016 Cars To Insure – Forbes

It doesn’t take an actuary to figure out why expensive and exhilarating rides like the Dodge Viper and Nissan GT-R are among the costliest cars to cover. “The Viper is a car you buy because you love to drive fast,” says Penny Gusner, consumer analyst for Insure.com. “That’s reflected in the rates.”

While the most expensive models generally tend to be assessed higher car insurance rates than cheaper ones because of higher repair costs, the Viper is ironically the least-costly car on the list with a sticker price of “only” $97,995. Aside from a car’s MSRP, insurance companies further base their rates on claims histories, including how much damage a given model incurs in a typical crash, the extent of injuries (and fatalities) suffered by occupants and other parties, the cost of damage to other vehicles and property and which models are more or less likely to be stolen. All together those points are the very definition of the sports cars and high-powered luxury cars that dominate the list of cars suffering the highest insurance rates. 


Take a Defensive Driving Class if You Live In These States

Lower gas prices last year encouraged more Americans to hit the road, which led to more accidents and claims, and consequently, insurance companies raising rates in response to the increase in claims frequency. If your insurer raised your rates recently, there’s a little known discount that can help reduce the impact if you live in certain states. What most drivers do not know is, some states actually require insurers to give discounts to any driver who completes a defensive driving class. Why does it make sense to take it? Because you can find a defensive driving class for as low as $20 – $25, which leads to at least a 5% discount that applies to 2 – 3 years of coverage. Well worth the cost. 


The Extraordinary Rising Costs of Driving Drunk | The Fiscal Times

As if you need another reason not to drink and drive.

People who are charged with drinking under the influence can expect their car insurance rates to skyrocket.

An adult who receives a citation for a DUI can expect their car insurance to shoot up by more than $813 annually, according to a NerdWallet report. Teenagers face a much costlier consequence – their individual car insurance rate can spike by more than $2,398 a year. 


Cars that get the most speeding tickets – MarketWatch

Cars don’t speed, people do. Last year, the Subaru WRX earned the dubious title of “most ticketed” car, but those lead foots may have slowed down, because that make and model dropped to No. 12 in a recent data analysis. This year, a stylish sedan sits at the top of the list of cars with the most tickets compiled by Insurance.com, a car insurance comparison site. The most frequently ticketed vehicles include a variety of economy and luxury cars, the cars with the lowest percentage of tickets are generally more expensive vehicles. Insurance.com reviewed insurance claim and traffic violation data from 331 models and more than 323,000 recent customers. Rankings were calculated on models for which more than 250 quotes were sought to ensure a significant sample size. 


Life Insurance Roundup, February 24, 2016


32 states deny workers life insurance cover – Punch Newspapers

Thirty two states of the federation out of the 36 and the Federal Capital Territory have yet to procure compulsory Group Life Insurance Policy for their workers, investigation has revealed.

Data obtained from the National Pension Commission on Friday showed that most of the states had also not implemented the Contributory Pension Scheme for their workers as of the second quarter of last year.

The four states that have fully complied with the compulsory insurance cover for their workers are Lagos, Niger, Osun and Rivers.

The four states, according to PenCom statistics, are also implementing the CPS for their workers and fully funding the pension scheme.

PenCom disclosed in its update on the implementation of the scheme by the state governments that the four states made some progress in the level of implementation of the CPS as of the end of the second quarter of last year. 


Government mulling 49% FDI in insurance sector via automatic route – The Economic Times

Government is considering a proposal to permit 49 per cent FDI through automatic approval route in the insurance sector with a view to attracting more overseas inflows.

Currently, FDI up to 26 per cent is permitted through automatic approval route. For FDI up to 49 per cent, the approval of Foreign Investment Promotion Board is required.

According to sources, the government could announce this decision in the forthcoming Budget as the move would help in improving. 


National Western Life Insurance Company (NASDAQ:NWLI)’s Opens At 211.43 – Vanguard Tribune

In today’s session, National Western Life Insurance Company (NASDAQ:NWLI)’s stock opened at 211.43 and was trading at 208.00 at the time of writing. In same session, the stock hit a high of 214.49 and low of 204.15. This indicates that the market capitalization of National Western Life Group, In, a NMS listed firm, stands at 756.29M. The average daily volume in last three months was recorded at 6416.

Sell-side experts have released their estimates for stock price and earnings of the company. As per the Zacks poll, the price target on National Western Life Group, In is set at N/A. The firm’s EPS in the last year was 25.99, and for this year, it is predicted to come at N/A. Also, the estimate for the next fiscal is projected at N/A. Additionally, the EPS for next quarter is expected to come at 0.00.

When explored on the technical front, it is known that the latest stock price is -5.70% away from 50-Day MA/Moving Average of 220.58. Also, it is known that the latest price of National Western Life Insurance Company (NASDAQ:NWLI)’s stock is -22.68%, and +7.65% away from one-year low and high of 193.22 and 269.00, respectively. 


Allianz is the world’s most valuable insurance brand 2016 – Ventures Africa

One of the world’s leading independent brand valuation and strategy consultancy, Brand Finance released its annual Brand finance Global 500 report for 2016. According to the report, Allianz tops the list of insurance companies in the world for the third year in a row.

“This excellent ranking shows that our flagship brand strategy as well as our clear focus on the customer and on digitalization are building trust and resonating with our clients around the globe. We would like to thank them for their growing loyalty,” Christian Deuringer, Head of Global Brand Management at Allianz, said.

According to the report Allianz is the only insurance brand to rank among the world’s 50 strongest brands in 2016. The current brand value of Allianz is $ 20,264 from $20,937 in 2015 putting the company at 43rd position up from 44th place last year. 


Spending on others can draw you tax benefits

Income tax laws provide you various benefits in terms of money spent or invested. Primarily, these benefits are available for the money spent on fulfilling your own needs. But they can be extended to the money you spend on your family members.
Here are tax benefits you can avail of when you spend on parents, spouse, siblings and children. 


Premium on insuring home, household property to be tax deductible | Business Standard News

Allowing deduction of premium paid by individuals on insuring their properties and clarity on legal position on non-taxability of technical reserves form part of the wishlist of the non-life insurance industry, said a top official of the industry body.

With the foreign direct investment (FDI) in insurance sector hiked to 49 percent and the sectoral regulator coming out with regulations in sync with the amended laws, the budget wishlist for the insurers has come down.

“In order to increase penetration of property insurance and to reduce the government’s outgo towards compensation, the premium paid towards insuring them against natural perils should be tax deductible,” R. Chandrasekaran, secretary general, General Insurance Counil of India, told IANS on Sunday. 


Budget 2016 may unveil health insurance scheme for senior citizens – The Economic Times

Government is working on a cashless health insurance scheme for senior citizens which may be announced in the upcoming Union Budget 2016-17.

Around Rs 10,000 crore – lying unclaimed in banks and insurance companies, EPFO and small savings schemes — would be utilised for providing the health insurance cover to the elderly, sources said. 


Illinois Plaintiff Sues Insurance Carrier Over Denial of Benefits

A Long term denied disability lawsuit has been filed in the Southern District of Illinois by a woman who claims her LTD provider abruptly stopped her long-term disability benefits without just cause.

The plaintiff in the Wrongly Denied Disability Claims lawsuit is Kathy L. Moore. According to the Madison County Record (2/3/16), Moore had been employed at Global Brass & Copper Inc., located in East Alton as a metals inspector and packer. As a full-time employee, Moore was covered for long-term disability benefits under the group insurance plan her employer carried with Life Insurance Company of North America.

According to the lawsuit, Moore was forced to stop work at some point prior to December 2011 due to various health issues including, but not limited to, hypertension, diabetes, multiple abdominal surgeries and an overall regressive, degenerative state of health.

Moore began receiving long-term disability benefits December 15, 2011 and collected them for a period of two years.