Life insurance types news

There are around 50 million Hispanic Americans, constituting around 16% of the total American population. And thus, the financial advisors targeting the Hispanic community for selling life insurances have certainly a reason or two to feel encouraged. American Hispanics still prefer to live in large families and deeply value protecting their family members. Moreover, their median age being 27 years makes as great customers for life insurance policies.

Recent research conducted into the Obamacare reforms such as that about half the people using health insurance are going to get financial aid for regular premium payments. Those who need to buy their policy will belong to this cross-section of American population in the coming times. However, consumers earning substantial amounts cannot hope for such leniency for continuing with their coverage.

On 10^th July, 2013, the Governor of New York, Andrew M Cuomo revealed that an investigation conducted by the Department of Financial Services shows $1.1 billion in the form of unpaid life insurance benefits to consumers.

As the trend in insurance premium payment continues to grow across the industry, the total new annualized premium for individual life insurance improved by 7% in 2013 first quarter. Despite the fact that the total individual life insurance policy fell by 5% in the first quarter, annual premium payments witnessed a growth that is expected to boost the revenues in the financial quarters to follow. However, the individual policy count, which was seeing a slight growth over the past two years, significantly fell by 5% in 2013 Q1. All the product lines in the life insurance segment have experienced a decline in policy count except term life insurance.

The past 4 years have been dreadful for more than 10 million multi-employer retirement pension plan holders. Recession and economic downturn has caused them significant loss while the projection for some plans running through insolvency is expected to further put stress on Pension Benefit Guaranty Corp. Despite of the fact that there are still several plans to recover, the question arises is a multi-employer retirement pension plan worth saving.

U.S. President, Barrack Obama, is gathering support for his new health care law, alleging that the law has delivered a myriad of benefits and will now allow the consumers without insurance an opportunity reap the benefits. Quoting Obama’s words, “The law is here to stay.” He remarked on the matter this Friday at the White House on an event organized to inspire young people for signing up for “health insurance exchanges” that are scheduled to unlock this fall.

A recent survey revealed staggering findings that over 90% Americans are clueless regarding the opening of new medical insurance exchange. In accordance with Obama Administration’s Affordable Care Act, October 1 is the tentative date when both telephonic and online enrollments start with insurance exchange. The aim of the new exchange is to give buyers a chance to compare the different available policies and buy as needed. Coverage begins January 1, the next year.

Recent healthcare overhaul under the directive from the present Barack Obama Government is all set to raise the medical insurance premiums for the Americans. The insurance companies from now on have to pay approximately 32% more on individual policies and this in turn increases the present premium amounts. Those who are uninsured and others, who purchase policies directly from the medical insurance companies, need to pay attention to this crucial news, which can affect their budget in the coming times. However, those covered under employer plans have nothing to worry just yet.

According to a recent market research, the annualized premium for total individual life insurance in 2012 grew by approximately 6%, which continued with the steady growth in sales for three consecutive years now. The report is based on fourth quarter of 2012, presenting the current picture of individual life insurance sales in the market.

According to a new market report published today, during the period 2007-2011, life insurance ruled the industry with respect to Gross Written Premium, leaving behind others in the U.S. insurance industry. However, during the period, the Total Written Premium value shrank at a Compound Annual Growth rate of 0.7% in the life insurance segment. The report analyzes and reviews the historical data of the life insurance segment as compared to others in the U.S insurance industry, examining the prospects across 2016.