Wednesday, September 30th, 2009
A recent front page New York Times article, from September 6, 2009, highlighted an emerging trend by Wall Street bankers towards large scale securitizing of life settlements of life insurance policies.
The effect on average customers for life insurance of this new business model by Wall Street will likely be to increase the cost of life insurance. (more…)
Tuesday, September 29th, 2009
Principal Financial Group announced it will now offer true own occupation definition of disability insurance policies to physicians. It is not yet approved in all states.
Own occupation definition of disability states that if due to sickness or injury you cannot work in your occupation (or your dental or medical specialty), a benefit will be paid regardless of income earned in another medical specialty or occupation. This is the most liberal definition of disability.
Principal will continue to offer transitional occupation definition of disability as an option. Transitional occupation also covers you in your medical specialty. If you choose to work in another medical specialty or occupation, the benefits would be reduced if the income received elsewhere exceeds your pre-disability income.
Information posted by Jamie K. Fleischner, President of Set for Life Insurance by KF Financial, Inc. headquartered n Greenwood Village, CO.
Tuesday, September 29th, 2009
The financial crisis has had a large impact on the life insurance industry in particular. However, they are well position to withstand the crisis now and for years to come. This is an article that was recently published by the American Council of Life Insurers addressing this issue.
America has been battered by a financial crisis. Like all financial service providers, America’s life insurance companies are feeling the effects of a tight credit market and declining stock and bond values. But the life insurance industry remains well-positioned to withstand the crisis and continue its proud tradition of honoring its obligations to policyholders. The life insurance industry holds about three times the minimum capital required by law to remain solvent and operational. (more…)
Tuesday, September 22nd, 2009
Monday, September 21st, 2009
Chris Noth Life Insurance Video
Chris Noth, an accomplished actor who is probably best known for his leading roles on Sex and the City and Law & Order, grew up in a life insurance family. Both his father and grandfather were agents for Prudential. Sadly, that’s not where Chris’ connection to the industry ends. His father died in an automobile accident when Chris was nine years old, leaving his mother to raise three boys on her own.
To support her family, Chris’ mother, a broadcast journalist, continued to work following her husband’s death. Fortunately, she was also able to rely on her husband’s life insurance coverage. The insurance helped maintain the family’s standard of living and was particularly important when Chris’ mother was in between jobs and not bringing home a paycheck. Insurance proceeds also helped put Chris and his brothers through college.
“I know from experience that life insurance can be the bedrock of your family’s financial security,” said Mr. Noth. “I’m very excited for the opportunity to use my story to deliver this important message to the American people. Life insurance is not a subject that people like to talk about, but it needs to be talked about.”