Life Insurance Roundup, August 2, 2016


American National Life Insurance Company of New York Introduces an Industry Leading Guaranteed Universal Life Policy with a Guaranteed Cash-Out Option – Signature Guaranteed Universal Life Insurance

With this new life product, American National proves to be a leader in the Guaranteed UL market by offering consumers a guaranteed death benefit along with flexibility and features to fit their needs.  


4 Key Ways Whole Life Insurance Differs From Term Life Insurance

Whether it’s better to buy term life or whole life is one of the most asked questions about life insurance. 


Online platform in non-life insurance puts customers first – Livemint

Mandatory e-KYC and e-insurance accounts for online businesses are welcome moves. But these should be made mandatory across other modes of business sourcing as well. 


People who have a hard time getting life insurance

Are being discussed here.  This would be that group of people who think the world’s just too darn safe so we need a little excitement to mix things up. 


China’s Anbang Insurance dragging feet on the deal on Allianz Life Insurance Korea – Pulse by Maeil Business News Korea

China’s Anbang Insurance Group which in early April pledged to buy Allianz Life Insurance Korea Co., a life insurance unit of Germany-based financial services giant Allianz Group, for a mere $3 million is raising speculation it may not see through the acquisition.  


Insurance coverage for the important things in life

All the insurance coverage you need for the important things in life is available from James W A Morris Insurance Group Inc. in Cambridge. 


Generali bags PH insurance license | Inquirer Business

GENERALI Group of Italy has obtained a license to operate a life insurance company in the Philippines, aiming to become a significant player in this market in the years ahead. 


Catch ’Em All Safely with this Pokémon Go Insurance

There is one mobile game taking the world by storm, and we have all heard something about it: Pokémon Go. The extension of this Nintendo’s franchise takes full advantage of what today’s smartphones have to offer, and uses geolocation and augmented reality to take players out of their homes and go look for all the Pokémon they can find. 


ANZ sold Kiwis dud life insurance | afr.com

ANZ Banking Group is being accused of selling life insurance to a New Zealand couple in Australia who were not eligible for coverage because they are not Australian permanent residents. 


Should You Use Life Insurance Proceeds To Pay Off The House – Forbes

This is a very popular and common question I get after the loss of a spouse.  Figuring out the answer can be complicated by various moving parts, people, and usually a few unknowns.  


Class integrates with SMSF Life Insurance Reviews

Class, the developer of Class Super, the leading cloud SMSF administration software, has announced a new integration with SMSF Life Insurance Reviews, a leading provider of life insurance compliance services for SMSF accountants and their clients. 


Life Insurance Direct Marketing Association (LIDMA) Keynote Address to Be Delivered by Ebix CEO Robin Raina

The Life Insurance Direct Marketing Association (LIDMA) has announced that its Annual Fall Meeting & Business Showcase will take place September 25 through September 27, 2016 at the Balboa Bay Resort in Newport Beach, CA with its keynote address being delivered by Ebix, Inc. ( NASDAQ :EBIX ) CEO Robin Raina. 


Man ‘fakes death’ for R3.6m life insurance payout | The Citizen

One of two women accused of fraud after trying to cash in a life insurance policy is reportedly linked to siblings arrested in a Krugersdorp triple-murder case. 


Are the Proceeds from a Medicaid Recipient’s Life Insurance Policy Subject to Estate Recovery? | ElderLawAnswers

My mom has an individual whole life insurance policy. Her current policy has a death benefit of $30,000 and no cash value. Medicaid has been paying for her care. When she passes away, will the state be able to take the proceeds from the life insurance that would be paid out to her beneficiaries? 


Average LGBT life insurance sum assured exceeds £170,000 | The Actuary, the official magazine of the Institute and Faculty of Actuaries

The average amount a life assurance policy guarantees to pay up for lesbians, gay men, bisexuals and transgender people (LGBT) now stands at £176,695, according to a survey by insurer Compass


ING Life in Korea: ING Life Labor Calls for Transparent Procedure for Sales | BusinessKorea

s the binding bid for ING Life Insurance Korea, the fifth largest life insurance firm in Korea, will start as early as within this week, its labor union urged, “Stop the rough-and-ready sales but make the sales procedure transparent.” 


Husband seeks recovery of benefits from TransAmerica Life | Southeast Texas Record

A man has filed suit against an insurance company alleging he was not paid life insurance benefits after the death of his wife. 


More scrutiny needed on commissions paid to life insurance advisers

The proposed changes to commissions for selling life insurance may just tip the system back in favour of the customer. For years paying life insurance advisers by commission was not seen as a conflict of interest, even when it incentivised bad advice and continuous changing of policies. 


Scandals in the life insurance industry – Please explain!

Media reports about life insurance (LIF) ‘reforms’ usually include comments like ‘an attempt to mend the scandal-ridden sector’ or ‘enormous’ or ‘lucrative’ upfront commissions – presented as a truism without any mitigating exploration of context or truth. 


Life Insurance Settlements Discusses the Ever Expanding “Buy-Box” – Press Release – Digital Journal

Leading Life Insurance Settlements Company Now Able to Get Offers on More Life Insurance Policies than Ever Before


Financial Advisor IQ – Index Fund Fees Targeted in New York Life Insurance Lawsuit

Lawsuits by employees alleging high fees in 401(k) plans have been on the rise, but the latest suit against New York Life Insurance solely targets an index fund, Bloomberg reports. 


IndiaFirst Life Insurance appoints Peuli Das as “Appointed Actuary”

IndiaFirst Life Insurance, a joint venture between Bank of Baroda, Andhra Bank and Legal & General (UK), announced the appointment ofPeuli Das, as Appointed Actuary, today. 


KDB’s plan to sell insurance unit stalls

KDB Life, the insurance unit of Korea Development Bank (KDB), is failing to attract domestic investors to take over the bank’s stake in the firm. 


Chinese Buyers on Acquisition Spree Eye Insurance Firms – WSJ

The latest example is a $1 billion bidding war for Singapore-based Asia Capital Reinsurance Group Pte. Ltd. All three of the leading bidders are backed by Chinese money. 


Insurers Challenge Retroactive Application of New Florida Law that Requires Comparison of Names of Accounts to Death Master File – Lexology

Insurers Challenge Retroactive Application of New Florida Law that Requires Comparison of Names of Accounts to Death Master File. 


bne IntelliNews – Russia’s central bank purges “pyramidal” insurance sector

The purge of the Central Bank of Russia (CBR) of the country’s insurance industry makes the regulator’s cleanup of the banking sector look lightweight by comparison, reducing the number of companies working the sector by 80%. 


Why buying a child insurance policy should never be postponed – The Financial Express

As a first stage of financial safety and security, a young couple generally go for an endowment policy for themselves. 


One Court Case That Could Really Hurt Obamacare Insurers – Morning Consult

There’s been a lot of bad news about rising Obamacare exchange premiums over the past few months. But things could get much worse for insurers (and consumers) if a court ruling brought by House Republicans against the administration prevails. 


‘Dream car’ bought using Auckland cancer patient’s life insurance stolen | Stuff.co.nz

An “irreplaceable” AC Cobra car – bought using a cancer sufferer’s life insurance money – has been stolen from a fortified garage in Takanini, south Auckland. 


M&A in Life Insurance: Chinese Insurers, Banks Expected to Take Pivotal Role in Domestic Life Insurance M&A | BusinessKorea

he Korea Insurance Research Institute (KIRI) said on July 24 that Chinese insurers and financial holding companies affiliated with banks are likely to become more and more aggressive in the M&A of South Korean life insurance companies and they are expected to act as capital suppliers in the South Korean life insurance industry in need of recapitalization. 


Reliance Nippon Life Insurance launches new offer and other top insurance news

Reliance Nippon Life Insurance, part of Reliance Capital, launched its new offer – ‘Increasing Money Back Plan’. 


NRA sued over non-payment of life insurance claim

A California man is suing the National Rifle Association and its partners for failing to pay on a life insurance claim in the accidental death of his relative, who named him the sole beneficiary of her policy. 


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