Survey: 57% of Americans say life insurance helps shield family finances A WellPoint survey says 57% of Americans said life insurance is an important financial safeguard for a family, and 67% of respondents reported having a life policy. Sixty-eight percent said saving for retirement is a key financial protection, and…
Adviser uses annuity trust to solve complex estate issue The discovery that a client’s estate plan was based on a universal life policy that was severely underfunded triggered a search for a solution. The client’s financial adviser ended up establishing a grantor remainder annuity trust to resolve the issues. The…
Savings are a concern for many Generation X women, survey finds Some 62% of women in the Generation X age group are concerned that they aren’t saving enough money to prepare for their needs in the future, according to a survey by Ameriprise. Two-fifths of female Generation X respondents said…
Advisers often fail to work with both spouses The relationship between a financial adviser and a client can become strained when the adviser doesn’t try to get equal input from both partners in a marriage and doesn’t understand the difference in how men and women approach investment, experts say. In…
Life-settlement industry is showing signs of growth The market for life insurance settlements, which was greatly diminished following the Great Recession, grew 20% last year, according to a survey by The Deal. The market is poised for further growth this year, analysts say. Bloomberg Businessweek (7/30)
Who most needs life insurance? Pilots, fishermen, lumberjacks, farmers and waste collectors are among those whose professions have the highest mortality rates, according to an Ireland-based insurance company. The logging industry has a fatality rate of 127.8 per 100,000 full-time workers, followed by the fishing industry with a rate of…
Commentary: Small firms’ group coverage should include owner profits Group life insurance and disability coverage often cover a small-business owner’s salary but not profits, writes Bruce Hentschel of Principal Financial Group. Such firms should seek a carrier that offers coverage for the owner’s full income, Hentschel writes. BenefitsPro.com (7/21)
Sales of indexed universal life are up, study says Sales of indexed universal life insurance made up 31% of all indexed life sales in the first three quarters of last year, up from 14% in 2010, Milliman said in a report. Chronic-illness riders have also gained in popularity during recent…
Report: Alternative capital may become a fixture for life insurers Investment firms have put money into the life insurance and annuity markets as traditional insurers have pulled back, according to a report from Conning. Such alternative-capital backing is in the “early innings,” with those investment companies likely to remain in…
Are you communicating effectively? A new joint study by LIMRA and Maddock Douglas reveals that there are 19 million “stuck shoppers” of life insurance in the U.S. “Stuck shoppers” are consumers who believe life insurance is valuable and necessary but have been derailed during the shopping process. The study uncovered…
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