Tag: life insurance types

Do children need life insurance?

There is a serious debate underway regarding whether or not it is appropriate or necessary to buy life insurance policies for children, and if there is any benefit to the purchase. Those who would buy life coverage for their children do so because they feel that they are helpful financial tools that play an important role as a part of a larger savings and investment portfolio. However, others would say that for the majority of families, buying a life insurance policy for someone that young is typically wasteful, since it…

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Missouri insurance department implements new program to locate deceased relatives’ life insurance policy

Julie Campbell

The insurance department in Missouri has just developed a new program that will assist beneficiaries in being able to track down any life insurance policy that is held by the deceased person. The insurance department has said that it isn’t at all uncommon for people to know that a family member has life insurance coverage, but not actually know which insurer sold the policy. Using this new program in Missouri, people who are searching for a life insurance policy for a dead relative will be able to give the information…

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Funeral insurance can help in a very difficult time

S.Vagus

Many people consider funeral insurance, also referred to as burial insurance, to be much more expense than they will ever be worth, however, in a time when employment is unsecure, income is low, and savings have already withered to compensate for struggles during the global economic crisis, this protection can provide much needed assistance at a difficult time when no other help is available. Budgets in counties and states are rapidly shrinking, and while low-income individuals who could once turn to them for assistance if they found themselves facing the…

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Americans with life insurance feel their beneficiaries are capable of making a claim

Marc

The results of a survey by Nationwide Financial Services, Inc. has shown that 70 percent of policyholders of life insurance feel confident that the beneficiaries of the coverage would be capable of filing the claim when the time comes, and that the majority of those policyholders have made an effort to assist in the necessary preparation. The survey’s outcomes were released for Life Insurance Awareness Month, which is September. According to Nationwide Financial’s senior vice president of Individual Protection, Peter Golato, families can obtain financial security and stability from life…

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Insurers remind consumers of Life Insurance Awareness Month in September

Julie Campbell

September is Life Insurance Awareness Month, and insurers such as Northwestern Mutual, which has been named the Fortune magazine “World’s Most Admired” life insurance company for 2011, is witnessing a growth in the interest consumers have for their long term protection, as the insurer reminds people across the United States about the importance of life insurance to planning financial security. According to the vice president of life products at Northwestern Mutual, Dave Simbro, “Life Insurance Awareness Month is a great reminder for everyone to consider their life insurance needs”. He…

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Nationwide answers probing questions in Florida

H. Cutner

Representatives from Nationwide Mutual Insurance where called upon by Florida officials to testify on how insurers handle life insurance payouts in the state. Several of the state’s insurance companies have been the target of controversy lately after being accused by regulators of holding back payouts. Allegedly, these companies withhold funds despite having full knowledge that a policyholder has passed away. According to regulators, these funds may be being held in safekeeping until they are designated as unclaimed, at which point the insurer is no longer liable for payouts. Nationwide assured…

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