Live Insurance News

Why 99% of Term Life Policies Never Pay Out And What Farmers’ Lawsuit Tells Us

March 25, 2025March 26, 2025 Tate Ellison

Consumer Protection in Focus: The Farmers Life Insurance Lawsuit A high-stakes legal battle is brewing in California as Farmers New World Life Insurance Company faces allegations of overcharging policyholders and improperly lapsing policies. The class action lawsuit, filed on March 18, 2025, in California Superior Court for Los Angeles County, accuses Farmers of engaging in predatory practices that left many policyholders vulnerable. While the case is still in its preliminary stages, it has already sparked critical discussions about consumer rights and corporate accountability in the insurance industry. Understanding the Allegations…

Why Gen Z Is Checking Weather Maps Before Signing a Mortgage

March 25, 2025March 24, 2025 Live Insurance News

Weather Disasters and Rising Insurance Costs: A Barrier to Millennial and Gen Z Homeownership Homeownership has long been seen as a pillar of the American Dream, but for Millennials and Gen Z, that dream is becoming increasingly out of reach. It’s not just student loans or sky-high housing prices putting a dent in young buyers’ ambitions. Severe weather disasters and rising home insurance costs, fueled by climate change, are rewriting the rules of who can afford to own a slice of real estate. The Cost of Climate Change Hits Home…

How Military Families Are Winning the Financial Game

March 24, 2025March 23, 2025 Tate Ellison

Military Families Prove Financial Resilience Amid Economic Pressures Military families have quietly written one of the most compelling financial success stories of recent years. While inflation and economic uncertainty have challenged households across the nation, military families have not only endured but thrived. Recent data from the USAA Military Financial Wellbeing Index reveals an impressive 19% increase in savings and a 23% reduction in credit card balances among military members between 2019 and 2023. If these numbers make you sit up and take notice, you aren’t alone. There’s a lot…

Are Lithium-Ion Batteries Putting Homes at Risk During Natural Disasters?

March 24, 2025March 23, 2025 Marc

Understanding the Risks: Lithium-Ion Batteries in Natural Disasters Lithium-ion batteries have become indispensable to modern life, powering everything from smartphones and laptops to electric vehicles (EVs) and large-scale energy storage systems. The global demand for them is projected to grow by an estimated 30% annually until 2030. However, as their presence becomes more pervasive, so do the risks they pose in the context of natural disasters. Natural disasters such as hurricanes, floods, and wildfires can severely compromise the safety of lithium-ion batteries. When exposed to conditions like saltwater submersion or…

Pet Insurance Fraud in the US: A Growing Problem Impacting Policyholders and Pets

March 21, 2025March 21, 2025 G. Turner

Pet insurance, once a trusted safety net for unexpected vet bills, is now facing an unsettling challenge in the United States. Fraud within the industry is on the rise, and its implications stretch far beyond the perpetrators and insurers. With insurance fraud costing Americans $308.6 billion annually—that’s $932 for every single person in the US each year—we’re not talking about pocket change. Fraudulent pet insurance claims, in particular, are compounding industry challenges and hitting honest pet owners where it hurts most—in their wallets and their trust. From exaggerated claims to…

Life Insurance and Annuity Growth in Focus: Key Trends Shaping the US Insurance Market

March 21, 2025March 20, 2025 Live Insurance News

Modest Growth Expected for U.S. Life/Annuity Insurance Sector Through 2025 Despite market volatility and economic uncertainties, the U.S. life and annuity (L/A) insurance sector is projected for modest growth over the next two years. According to Best’s Market Segment Report, the industry will see a boost of approximately $48 billion in capital and surplus combined through 2024 and 2025. Additionally, net income is expected to climb to $51.1 billion in 2025, exceeding pre-pandemic levels by a significant margin. However, while the numbers signal progress, the challenges ahead are as thought-provoking…

Louisiana’s Roof Upgrade Secret That Could Cut Your Insurance Costs by Nearly a Quarter

March 20, 2025March 20, 2025 Angela Linders

Fortified Roofs in Louisiana: A 22% Cut in Home Insurance Premiums For homeowners in Louisiana, the rising cost of home insurance has been a cause for concern, especially in hurricane-prone regions. However, fortified roofs are providing a glimmer of hope. Recent findings by the Louisiana Legislative Auditor reveal that upgrading to a fortified roof can slash home insurance premiums by an average of 22%, equating to annual savings of approximately $1,250. What Are Fortified Roofs? Fortified roofs are designed to withstand severe weather conditions, particularly high winds associated with hurricanes.…