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  • Too Cash Strapped for Longevity, Many Consumers also Lack Life Insurance
    With age comes wisdom supposedly, but even as more Americans are living longer they are not financially prepared for their retirement years and also lack life insurance. According to the Centers for Disease Control (CDC), the average American’s life expectancy has increased to 75.7 years for men and 80.6 ...

  • MetLife reaches $40 million settlement with Florida regulators
    State officials have a $40 million settlement with nine Metropolitan Life insurance companies regarding the location of life and annuity beneficiaries and the reporting of unclaimed property. The settlement could result in a return of more than $9 million to some 15,000 Florida policy owners holding low-value or industrial ...

  • Wrap Contracts Coming Back Strong Among Insurers
    New York Life found that despite low interest rates, 50 percent of retirement-plan participants use stable value products, which are classified as principal preservation investment solutions. “Since the financial crisis of 2008, on average more than 20 percent of retirement assets have been invested in stable value investments and ...

  • Insurance Agents Charged In $100 Million Fraud Scheme
    The Manhattan United States Attorney and the Federal Bureau of Investigation have charged three insurance agents with a $100 million fraud scheme involving stranger-owned life insurance or STOLI. Typically, people buying a life insurance policy have some relationship to the person being insured. In contrast, with STOLI arrangements, a ...

  • Long-term care insurance: The long and short of it
    According to AARP, being incapacitated can get very expensive. The Washington, DC-based organization reports a private room in a nursing home costs about $74,000 a year, and a home health aide an average of $18 an hour. You say you could not begin to afford those costs? If you're ...