Increased death benefits due to the coronavirus are likely to have a relatively small effect on life insurers, according to analysts from Moody’s Investors Service. “[T]he potential claims impact of increased death benefits will be relatively small and poses a lesser risk to life insurers than the secondary market impacts…
More young financial advisors are moving away from big wirehouses and toward independence with their own firms, says Pam Stross, CEO of TruClarity Wealth Advisors. Among the reasons she cites for this trend are a desire for personalization and increased use of technology. Financial Advisor online
One of the options to get around the Setting Every Community Up for Retirement Enhancement Act’s elimination of stretch IRAs is to buy a whole life insurance policy with required distributions, according to Steve Gibbs of Insurance and Estates. This strategy “allows for a great deal of flexibility because permanent…
InsuranceNewsNet Senior Editor John Hilton reviews the top life insurance stories of 2019. Among them were the debate over universal life insurance and the increase in sales of long-term care hybrid products. InsuranceNewsNet Magazine online
Analysts, ratings agencies and others offer predictions for the insurance industry in 2020. Among them are that low interest rates will continue to be a problem for life insurance and annuity companies and that the health insurance market should remain stable. ThinkAdvisor
People who bought life insurance policies in their 20s explain why they are glad they did. Several mentioned the peace of mind it provides, while one pointed out that he avoided higher premiums based on risk factors that showed up later in life. Business Insider
With September being Life Insurance Awareness Month, it’s a good time for agents and brokers to check with clients to see if they have the coverage they need, writes Aflac executive Wendy Herndon. She recommends three ways to broach the subject. ThinkAdvisor
The Association for Advanced Life Underwriting and GAMA International have announced plans to merge into one organization by June 2020 and adopt a new name. Commenting on the merger, NAIFA CEO Kevin Mayeux said, “NAIFA welcomes opportunities to continue working with all other groups sharing common interests on behalf of…
Life insurance applications rose 3.3% in June compared with a year ago, boosting second-quarter performance to 1.5% and offsetting a 1% decline in the first quarter, according to the MIB Life Index. The index shows growth being driven predominately by older applicants. ThinkAdvisor
Making it easier for adult children to take out life insurance policies on their parents could help them recoup money spent on caregiving, writes Life Benefits founder Tomas McFie. Creating a policy for this purpose would be profitable for insurers and help prevent financial hardship for people caring for elderly…
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