Life Insurance Roundup, May 25, 2016


Does PTSD affect your ability to get life insurance?

An Army veteran and his wife said they were “shocked and saddened” when they learned he was denied life insurance because of his history of post-traumatic stress and depression. 


ANZ mulls sale of life insurance unit: sources – Taipei Times

Australia and New Zealand Banking Group Ltd (ANZ) is exploring plans to sell part or all of its life insurance and pension product development unit, valued at up to US$4 billion in total, in line with its broader strategy of raising funds to boost capital, people familiar with the matter said. 


A.M. Best Upgrades Ratings of AmFirst Insurance Company and Monitor Life Insurance Company of New York | Business Wire

Best has upgraded the financial strength rating (FSR) to A- (Excellent) from B++ (Good) and the issuer credit ratings (ICR) to “a-” from “bbb+” of AmFirst Insurance Company (AmFirst) (Oklahoma City, OK) and its wholly owned subsidiary, Monitor Life Insurance Company of New York (Monitor Life) (Utica, NY). The outlook for each rating is stable. Additionally, A.M. Best has also assigned the FSR of B++ (Good) and the ICR of “bbb+” to TPM Life Insurance Company (TPM) (Lancaster, PA), a wholly owned subsidiary of AmFirst. The outlook assigned to each rating is stable. 


Term life or whole-life insurance, how to differentiate among the two?

Term Life Insurance comprises insurance protection, including pre-determined sum (sum assured) upon the death of the insured within the period of coverage. Unless renewed, coverage will expire with policy expiration. 


Hanwha introduces variable life insurance policy

Hanwha Life said Monday that it has introduced a variable life insurance policy guaranteeing up to 130 percent of the premiums no matter how much it loses with its investments, providing stable income to policyholders after they retire. 


Cardinal deal may spark AA expansion – Independent.ie

Irish private equity firm Cardinal Capital is reported to be in talks to take over the car insurance and breakdown services firm in a deal that is likely to be worth north of €150m. 


Financial consultant who defrauded Ontario widow ordered to pay $300K | National Post

A financial services consultant who befriended his handyman’s widow, defrauded her out of life insurance money and gambled it all away on risky investments in a few weeks must now pay it all back, and more, according to an Ontario judge. 


Meiji Yasuda Life Insurance Co buys $5 Million stake in CVS Health Corp (CVS) – Market Digest

Meiji Yasuda Life Insurance Co scooped up 2,470 additional shares in CVS Health Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 48,707 shares of CVS Health Corp which is valued at $5 Million.CVS Health Corp makes up approximately 0.80% of Meiji Yasuda Life Insurance Co’s portfolio. 


Tobacco, marijuana exactly the same when it comes to insurance premiums – The Globe and Mail

Is eating a pot brownie each day to help with your chronic pain as bad for you as regularly lighting up a cigarette? Canadian life insurers say the two activities pose the same risk and demand the same higher premiums from clients. 


Security Mutual Life Introduces a New Version of Its Social Security Evaluator Software

Security Mutual Life Insurance Company of New York announced the release of an improved version of its Social Security Evaluator software. The new version of the software incorporates an income tax feature, enabling the client to consider projected income tax exposures regarding his or her social security benefits. This new version requires only a few inputs. 

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