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The Life Insurance and Annuities Committee will vote on language proposed by the American Council of Life Insurers to shore up Actuarial Guideline 49 and bring IUL illustrations more in line with actual returns. A consumer advocate is urging the committee to substitute tougher language.
The class action was filed in June 2016, in the Western District of Missouri by Michael Vogt and other individuals who owned universal life insurance policy form 94030 issued by State Farm. The lawsuit alleged that State Farm breached the terms of the policies by overcharging policyholders through cost of insurance provisions causing policies to lose value...
The post Court Affirms $34.3M Jury Verdict Against State Farm Life Insurance appeared first on InsuranceNewsNet.
NEW YORK& HAMILTON, Bermuda---- KKR& Co. Inc. and Global Atlantic Financial Group Limited today announced the signing of a strategic transaction where KKR will acquire all of the outstanding shares of Global Atlantic, a leading retirement and life insurance company. Global Atlantic serves more than two million policyholders through its retirement and life...
Prudential Financial is pulling a popular guaranteed universal life product from the market and one industry analyst expects many more products to join it on the sidelines. The problem is ultra-low interest rates make it difficult to support guaranteed universal life designs.
The post Prudential Tips ‘First Domino’ By Suspending GUL Product: Analyst appeared first on InsuranceNewsNet.
-Foresters Financial™ today announces it is now one of very few industry players to offer standalone Children's Whole Life Insurance, with the launch of BrightFuture, its first product designed specifically for those currently under the age of 18 1. Available from July 5, 2020, a single BrightFuture application can be used to apply for coverage for up to six...
The post Foresters Financial Launches Children’s Whole Life Insurance appeared first on InsuranceNewsNet.