Millennials' awareness of their financial situations and challenges can give them a greater openness to the benefits of life insurance than previous generations had, writes Jerry Blair of Midland National Life Insurance. The industry needs to focus on showing millennials how life insurance can help secure their futures, Blair writes….
Kentucky state lawmakers have introduced a bill that would make clear the state's Unclaimed Life Insurance Benefits Act affects all policies, rather than applying only to those sold after the law's 2012 passage. Some insurers have gone to court to challenge the law, which they say doesn't apply to policies…
Permanent life insurance has many advantages beyond the death benefit, and it "should be a bedrock of any serious financial, retirement or estate plan," writes certified public accountant Ed Slott. Its strongest features include tax-free savings and greater control over assets in the long run, Slott writes. LifeHealthPro (2/5)
Sales of whole life insurance rose in 2014, while sales results for universal life were less uniform, Eastbridge Consulting Group says. New products could have been responsible for both types of insurance representing a higher-than-usual percentage of voluntary sales, Eastbridge notes. Carriers said they expect interest-rate uncertainty to prompt more…
The number of short-term-care insurance policies sold in the first half of 2015 was up 71% year-over-year to hit 26,237, while total premium was up 54%, according to the American Association for Long-Term Care Insurance. "Agents need to seek other options to meet their client needs, and a policy that…
MetLife Announces Several Underwriting Enhancements to Help Make it Easier to Do Business! Revised Build Charts for Standard and Substandard Classifications Effective immediately, MetLife has revised our height and weight charts for the standard and substandard classifications. The current update allows many clients who may have been mildly rated for…
Study: Competition is a top challenge for life insurer profits Life insurance companies named competition and cost management as the biggest challenges they face in meeting growth and profit goals, according to a Towers Watson survey. Regulations and the economy are top concerns with regard to managing risk, the survey…
Expert: Life insurance industry could look much different in 5 years Changes in the life insurance industry that Campbell Gerrish of Winged Keel Group predicts could occur by 2020 include the widespread use of e-signatures and uniform applications, instant access to medical records and an increased focus on providing multigenerational…
Commentary: Cash-value life insurance can preserve assets for heirs Clients with high enough net worth may be better off buying a cash-value life insurance policy than stashing assets in a certificate of deposit, writes Brett Berg of Prudential Financial. Such a move can preserve money for heirs, offer a better…
Advisers’ fees increase after years of decline North American financial advisers’ charges for fee-based accounts are edging up, after declining for several years, according to PriceMetrix. In 2014, advisers charged an average of 1.02% of assets, up from 0.99% in 2013 but down from 1.2% in 2009. InvestmentNews (free registration)…
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