Variable universal life has pros and cons, experts say Sales of variable universal life insurance grew by nearly one-fourth last year, according to LIMRA. Such policies provide a death benefit, tax deferral on earnings and the opportunity to benefit from a rising stock market, experts say. But critics say the…
Americans underutilizing permanent life insurance As longevity and the cost of living continue to increase, Americans may be overlooking a key opportunity to strengthen their financial foundation. Despite the many advantages of permanent life insurance, only 22% of Americans currently own a permanent life insurance policy, a fraction of the…
Commentary: Life insurance choices can be like renting or buying a home The decision of whether to buy term or whole life insurance has parallels to the choice of whether to rent or buy a house, Christopher Hill writes. Many of the same considerations apply, including initial price, price changes…
NAIFA Legislative Forum The NAIFA Government Relations team provided their annual legislative update to attendees at NAIFA’s Career Conference and Annual Meeting. NAIFA staff explained that “grassroots will rule the policy debates in the next Congress.” Nearly half of lawmakers have less than six years of experience in Congress. Also,…
Report: First-half earnings are down for life insurance sector Life insurance earnings were down by 16.5% year-over-year in the second quarter and by 28% for the first half of 2014, ALIRT Insurance Research said in a report. Life insurers’ surplus increased by 4% during the first half, the report said….
Commentary: Agents must keep clients educated on insurance policies A May survey showed that 29% of people have bought a life insurance policy without re-examining their coverage since, while 60% of people think their benefits will never change, writes Ron Sussman of PolicyAudits.com and CPI Cos. Conducting an annual audit…
Indexed universal life appeals to middle-market clients, experts say Agents say they are finding that the flexibility of indexed universal life insurance, which offer features such as built-in riders and access to policy loans, appeals to both individuals and small businesses in the middle market. Indexed universal life’s flexibility on…
Experts: Clients can shield portfolios with indexed universal life Some advisers see indexed universal life insurance as a way to guard clients’ portfolios while providing tax-free growth and a death benefit. “The downside to using life insurance as an investment is the lack of liquidity,” said Robert Cucchiaro of Summit…
Commentary: Tech streamlines insurance process for agents, clients Technology has enhanced the insurance experience for clients and agents by making consumers more educated about life insurance, fostering communication and simplifying the application and underwriting processes, writes Liran Hirschkorn of BestLifeQuote.com. InsuranceNewsNet online/INN Blog (8/27)
Report: Term life tops in-force premium Term life insurance represented 37% of last year’s total in-force voluntary premium, Eastbridge Consulting Group said in a report. Ten percent came from universal and whole life, giving life insurance nearly half of 2013’s in-force voluntary premium. Short- and long-term disability made up 17%…
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