Results for "life insurance"

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Banks missing a trick by not selling insurance: Survey

March 5, 2012

Bankers looking to wring the most money out of existing customers might thinking about selling them some insurance. Indeed, a new study showed that banks and credit unions are missing a yawning opportunity to generate revenue by expanding wealth...

NY to issue tougher regs on death benefits: Source

February 23, 2012

Life insurers will face tighter restrictions against holding beneficiaries' funds under a directive to be made by the New York Department of Financial Services, according to a person with knowledge of the plan. Insurers will be required to issue...

Elderly couple: Rep told us to put our IRA into life settlements

February 1, 2012

A Florida law firm has filed a Finra arbitration claim against a broker-dealer, alleging that one of its former reps inappropriately had sold life settlement investments to a retired couple. Tramont Guerra & Nunez PA claims that Bradford H....

MetLife must defend lawsuit over retained asset checkbook

December 20, 2011

MetLife Inc., the largest U.S. life insurer, must defend a lawsuit by the beneficiary of a policy who claimed the insurer paid $302,000 to the wrong person. The suit was filed by Jose Herrera, who lived with his wife, Maria Diaz, until she died...

No guarantees, but life insurers look set for revival in 2012

December 19, 2011

2011 was a bad year for life insurance stocks, but analysts are optimistic about 2012 — even with low interest rates looming. Investors' concerns over low interest rates and equity market exposure helped contribute to the slump life insurers...

Policyholder who died in 1970 finally gets death benefits — and so do 8,000 others

December 6, 2011

Life insurers paid $52.6 million in death benefits after New York's banking and insurance regulator forced the companies to use government data to identify cases where they hadn't paid claims. Almost 8,000 beneficiaries received the money, according...

State crackdown could be the death of some universal life policies

November 3, 2011

State regulators have signaled a push for recalculating reserve requirements on a certain type of universal life insurance — which could lead to higher costs for policyholders as well as fewer carriers' selling the product. A group of state...

Lincoln National's universal life reserves are 'more than adequate': CEO

November 3, 2011

Amid state insurance regulators' questions on whether carriers are properly reserving against a certain type of universal life insurance, Lincoln National Corp.'s CEO today stressed the insurer has sufficient reserves for its products. State...

Ruling is Stoli setback for Principal Life

October 12, 2011

A federal court decision in Pennsylvania has notched a win for life settlement investors, deflating carriers' argument that it is permissible for an insured person to apply for a life settlement with the express intent to sell it to a third...

MetLife to take charge of up to $135M to pay death benefits

October 7, 2011

MetLife Inc., the largest U.S. life insurer, said it will take a charge of $115 million to $135 million for the third quarter to adjust reserves as it uses additional data to identify cases where it hadn't paid claims. The review involves the...

Putnam CEO calls for new regulator to oversee lifetime-income products

October 4, 2011

Bob Reynolds, chief executive of Putnam Investments, today called for the establishment of a regulatory body to approve lifetime-income products. The lifetime-income security agency would be empowered to vet the full range of income solutions...

Under-45 crowd way underinsured, survey finds

September 6, 2011

Want to reach out to an untapped audience for life insurance? Try Gen X and Gen Y. The two groups tend to underestimate the amount of coverage they need to replace their household income, according to a survey of 3,700 individuals conducted...

Second time around, life insurers braced for downturn: UBS

August 12, 2011

The trauma that life insurers went through in 2008-09 may have been painful, but it seems the lessons learned during the financial meltdown may pay off during the current market turmoil. Indeed, Andrew S. Kligerman, a life insurance analyst...

MetLife says 30 jurisdictions are auditing unpaid benefits

August 5, 2011

MetLife Inc., the largest U.S. life insurer, said more than 30 U.S. jurisdictions are auditing its practices in a review of whether the industry is holding unclaimed funds owed to policyholders, beneficiaries or states. The audits may lead to...

Sun Life guns for market share in hybrid life/LTC space

July 8, 2011

Sun Life Financial Inc.'s hybrid whole-life and long-term-care product came out just last month, but the insurer is champing at the bit to build market share in a space currently dominated by just a select few. The burgeoning linked-benefits...

Life agents accuse Aviva of 'unclean hands' in unholy Stoli mess

June 17, 2011

Six life insurance agents claim that Aviva Life and Annuity Co. had consented to the offer of insurance coverage to some 119 churchgoers in Los Angeles. Agents Kazimir Patelski, Glenda Smith-Lee, Napoleon B. Kinney, Cheralynne Bridgewater, Candice...

Surprisingly sexy: This sector is being talked up by analysts

June 9, 2011

Wall Street analysts are upbeat on life insurance stocks, citing higher asset quality and better sales numbers. Life insurers, cash-rich and displaying improved fundamentals, have bounced back from the financial crisis, but their shares are...

John Hancock to pony up $1 million to Louisiana in death benefit flap

May 24, 2011

The state of Louisiana will collect about $1 million in a settlement with John Hancock Life Insurance Co. as part of a massive investigation into the insurer's payment of death benefits. The agreement will go into effect next month, according...

Probe widens, as California examines how 10 life insurers handle dormant policies

May 24, 2011

A slate of major life insurers — the ten largest doing business in California — are under investigation for the way they handle dormant life insurance policies. California insurance commissioner Dave Jones yesterday announced a market conduct...

MetLife names Goulart as new CIO

May 2, 2011

MetLife Inc., the largest U.S. life insurer, selected Steven J. Goulart as chief investment officer to oversee a portfolio valued at more than $450 billion. Goulart, 52, replaces Steven Kandarian, who became chief executive officer of the New...

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