Life Insurance Roundup, February 22, 2016

Bills would protect life insurance beneficiaries – Orlando Sentinel

Purchasing a life insurance policy is one of the most important decisions an individual can make. Many see the purchase as a one-time transaction — find the policy that fulfills your needs, sign up, pay the premiums and expect the company will be there for your family when the time comes. Sadly, that’s not how it always works.

We’ve discovered a systemic practice within the life insurance industry in which many companies are sitting on billions of dollars in overdue, unpaid life insurance benefits. Why? Their excuses are endless but it boils down to greed.

By not paying money to the named beneficiary, it remains inside company vaults earning the company millions in interest each year. 

Directive to update postal life insurance – KERALA – The Hindu

The Junior Superintendent of Posts, Kozhikode Postal Division, has requested all policy holders of the Postal Life Insurance Scheme in Kozhikode and Wayanad districts to update their policies before March 10. This is required because the Postal Life Insurance has been made online across the country. Concerned policy holders shall approach their nearest sub post office with their premium pass books to update their accounts, a press release said. 

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 82739.25, 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 9.22 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. 

Sales of some whole-life policies suspended – The Japan News

The Bank of Japan’s negative interest rate decision has started affecting the life insurance market, with sales of some products such as whole-life insurance policies being suspended following the announcement.

Life insurance companies invest a large portion of premiums collected from policy holders into Japanese government bonds. However, as long-term interest rates are at their lowest ever, it has become difficult for life insurance companies to gain sufficient investment returns. 

`Insurance agent` cheats man of Rs 1.9 lakh on the pretext of policy renewal | Mumbai NYOOOZ

A Senior Section Engineer with the Western Railways was recently cheated by a person who posed as an agent of Reliance Life Insurance. According to the police, the agent approached the complainant on the pretext of renewing his policy, and later withdrew around Rs 1.9 lakh from his account.

Umakant Thakur Umakant Kamlakant Thakur (48), a resident of Lower Parel, had purchased a Reliance Life Insurance policy. According to the plan, Reliance Fix savings, he was supposed to pay a premium of Rs 34,934 every year for a period of 15 years. In December 2015, Thakur got a call from a person who claimed he was an agent of Reliance Life Insurance. 

Allstate All-Star –

Since his first days as an electronics salesman at the former Wood River Kmart, John Standefer knew he had a knack for customer service and sales.

Two decades later, he’s taken it to the next level by running his own business.

“I knew customer service and sales is where I was strongest suited,” Standefer said. “I got my degree in marketing at SIUE in 1992 and began working for an Allstate Insurance agent. I was able to get my feet wet in the business and I enjoyed it. I knew this is what I wanted to do and an opportunity came up with Allstate in 1997 to start an agency from scratch, so I took that opportunity and ran with it. It has been a great career for me and I really enjoy it.”

Allstate Insurance has been serving customers for 85 years and of the more than 13,000 agencies nationwide, only about 20 percent achieve premier agency status. 


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