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Too Cash Strapped for Longevity, Many Consumers also Lack Life Insurance
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Published - 05/07/2012 12:00 AM
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With age comes wisdom supposedly, but even as more Americans are living longer they are not financially prepared for their retirement years and also lack life insurance. According to the Centers for Disease Control (CDC), the average American’s life expectancy has increased to 75.7 years for men and 80.6 ...
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MetLife reaches $40 million settlement with Florida regulators
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Published - 04/25/2012 12:00 AM
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State officials have a $40 million settlement with nine Metropolitan Life insurance companies regarding the location of life and annuity beneficiaries and the reporting of unclaimed property. The settlement could result in a return of more than $9 million to some 15,000 Florida policy owners holding low-value or industrial ...
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Wrap Contracts Coming Back Strong Among Insurers
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Published - 04/12/2012 12:00 AM
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New York Life found that despite low interest rates, 50 percent of retirement-plan participants use stable value products, which are classified as principal preservation investment solutions. “Since the financial crisis of 2008, on average more than 20 percent of retirement assets have been invested in stable value investments and ...
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Insurance Agents Charged In $100 Million Fraud Scheme
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Published - 02/20/2012 11:00 PM
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The Manhattan United States Attorney and the Federal Bureau of Investigation have charged three insurance agents with a $100 million fraud scheme involving stranger-owned life insurance or STOLI. Typically, people buying a life insurance policy have some relationship to the person being insured. In contrast, with STOLI arrangements, a ...
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Long-term care insurance: The long and short of it
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Published - 02/06/2012 11:00 PM
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According to AARP, being incapacitated can get very expensive. The Washington, DC-based organization reports a private room in a nursing home costs about $74,000 a year, and a home health aide an average of $18 an hour. You say you could not begin to afford those costs? If you're ...
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VA Life Insurance Program Rated Highest in Customer Satisfaction
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Published - 11/16/2011 11:00 PM
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WASHINGTON--(BUSINESS WIRE)--The Department of Veterans Affairs’ Life Insurance Program has once again validated, through a renowned independent survey, that Veterans and their beneficiaries are very highly satisfied with the service they receive. “I am very proud of our staff and the quality of the service they provide each and ...
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Many Financial Advisors Miss Opportunity to Incorporate Life Insurance into Planning
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Published - 08/17/2011 12:00 AM
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HARTFORD, Conn., Aug 16, 2011 (BUSINESS WIRE) -- Financial advisors often miss the opportunity to speak to their clients about the important role life insurance products can play in financial planning, according to a recent survey by Saybrus Partners, Inc. Results of the survey showed that only about half of ...
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New asbestos charges point to reserve woes
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Published - 07/28/2011 12:00 AM
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NEW YORK (Reuters) - Asbestos-related diseases have been falling for a decade, but warnings from a pair of U.S. insurance giants about new claims raise questions about the industry's ability to put the scourge behind it. While medical evidence suggests fewer new cases of asbestosis and the lung cancer ...
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