Life Insurance Roundup, June 13, 2016

Watch out for document fraud

Whenever we read news on fraud or forgery, or watch a show depicting crime, we usually tend to ignore it, believing it can never happen to us. We probably believe we are insulated. But are we really? Can nothing really happen to us? Can we never fall prey to fraud? Let’s check out some instances. 

Will You Outlive Your Life Insurance? – Forbes

Recently, class action lawsuits were filed against several life insurance companies, including Transamerica, for raising the “cost of insurance” (COI) inside of their universal life policies. What does that mean to you if you own a life insurance policy? 

Should The San Bernardino Shooter’s Family Get His Life Insurance? – The Alternative Daily

On December 12, 2015, Syed Rizwan Farook and his wife Tashfeen Malik opened fire at a holiday party in San Bernardino, California. Fourteen people were killed and 22 seriously injured in what was the most catastrophic terrorist attack in the US since September 11, 2001. 

Readers’ Corner: Life Insurance | Business Standard News

What is the timeline for restarting a lapsed policy? If it cannot be restarted, could I ask the company to pay me the premium after deducting charges? 

DOL fiduciary rule can also be applied to insurance

What’s the best type of life insurance? That question has been been debated for decades. In the 1980s, universal life products were considered the best. In the 1990s, it was variable universal life products, and in the 2000s, it was guaranteed universal life products. Now, indexed universal life and whole life products are most often recommended. So, which is it? None of the above actually. 

IRDA approves a slew of new products | Business Line

Insurance regulator IRDA has ramped up new product clearances, signalling its commitment to improve life insurance penetration in the country. 

5 non-life insurers eye merger – The Standard

Five non-life insurance companies plan a big merger before the end of 2016 to meet the minimum capital stock of P550 million, an industry source said over the weekend.  

The 3 Biggest Financial Mistakes Newlyweds Make — The Motley Fool

There’s a reason the first year of marriage is known as the honeymoon phase. For many newlyweds, it’s a time to enjoy each other’s company before life’s more serious responsibilities kick in. And while you may be inclined to postpone most major decisions in favor of enjoying a year of post-wedding bliss, you can start your marriage right by avoiding these three major mistakes. 


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