LIMRA: Industry Associations Unite to Help Address the Life Insurance Coverage Gap in the United States
Targeted News Service (Press Releases)
WINDSOR, Connecticut,
Feb. 1, 2021:
Seven
U.S. life insurance trade associations today announced they are pooling their resources to support the efforts of life insurers and financial security professionals as they help Americans get life insurance coverage and the certainty it provides at a time of great financial insecurity for many Americans.
LL Global, the parent organization of LIMRA and LOMA, the
American Council of Life Insurers, Finseca, Life Happens,
Million Dollar Round Table (MDRT),
National Association of Insurance and
JOIN THE WEBINAR! LL Global CEO Dave Levenson and Finseca CEO Marc Cadin will discuss why these associations have joined together at 1 p.m. Wednesday, Feb. 3.
Seven U.S. life insurance trade associations today announced they are pooling their resources to support the efforts of life insurers and financial security professionals as they help Americans get life insurance coverage.
The COVID-19 epidemic highlighted the need for life insurance and illuminated the gap of uninsured and underinsured American families, a longstanding problem illustrated by LIMRA research.
There is evidence that more Americans than ever are receptive to life insurance coverage. Principal Financial Group executives reported record 2020 life insurance applications during a fourth-quarter earnings call Friday.
KXLY
January 13, 2021 4:00 AM Cameron Huddleston - Forbes Advisor
Posted:
Updated:
January 15, 2021 4:14 AM
When you apply for a life insurance policy, the insurance company will gather information about you a lot of information.
It will want to know the basics, such as your age and sex. It will want to know your occupation, your smoking habits and whether you have any risky hobbies. Most importantly, the insurer will need plenty of details about your health, the prescription drugs you take and even your family’s medical history (parents and siblings).
Insurers need this information to determine how much of a risk you are to insure that is, how likely you are to die prematurely. So it would make sense that insurers would want to know the results of any genetic tests you’ve taken, right? After all, those tests could give them insight into whether you might develop a life-threatening disease.
WKBT
January 12, 2021 8:51 AM Ed Leefeldt - Forbes Advisor
Posted:
Updated:
January 14, 2021 8:06 AM
World War II veteran Dr. Walter Scott, who risked his life landing on Omaha Beach in 1944, could have another major battle to fight, or at least his heirs will. As Scott nears the 100-year age mark, he wants to know whether the $1 million in life insurance he purchased from German insurance giant Allianz is still intact and has value.
It’s a problem that could affect many older life insurance policyholders. “Many forms of permanent life insurance issued prior to 2004 have maturing dates of 100,” explains Michael Lovendusky, a general counsel at the American Council of Life Insurers (ACLI), which represents the industry. “That’s because few people reached 100 when the policies were issued.”