Total individual life insurance policy sales increased 11% in the first quarter, compared with first quarter 2020. This is the highest growth in the number of policies sold in a quarter since 1983. New annualized premium also experienced significant growth, up 15% from prior year, according to LIMRA’s First Quarter U.S. Individual Life Insurance Sales Survey.LIMRA: First Quarter U.S. Life Insurance Policy Sales Highest Since 1983 — https://www.limra.com/en/newsroom/news-releases/2021/limra-first-quarter-u.s.-life-insurance-policy-sales-highest-since-1983/
I don’t know who you are. I don’t know what you want. If you are looking for ransom, I can tell you I don’t have money. But what I do have are a very particular set of skills; skills I have acquired over a very long career. Skills that make me a nightmare for people like you.Bryan Mills, played by Liam Neeson in the film Taken
I had my annual wellness visit earlier this week.
5.10 168 130/84 BMI 24.14 O2 sat 98%
CHOLESTEROL 175 mg/dL
TRIGLYCERIDE 69 mg/dL
HDL 65 mg/dL
LDL CALCULATED 96 mg/dL
NON-HDL CHOLESTEROL 110 mg/dL
All of my other labs were normal too.
I have multiple relatives who have lived well into their 90’s. My maternal grandmother lived to 100. I’m going to need another source of retirement income. And for all of my friends and colleagues who never thought I would make it this far…
AST 23 U/L
ALT 7 U/L
GGT 36 U/L (12/2015)
PSA 0.7 (9/2020)
WASHINGTON, Dec. 23, 2020 — Homeless New Yorkers are targeted in a $31.7 million slip-and-fall ring … A crime ring burns and floods dozens of homes. … A sober-home mogul trades sex for drugs.
Source: Hall Of Shame Showcases $80B Pandemic Of Insurance Fraud
Since financial adviser Dean Vagnozzi was charged with fraud in a government lawsuit in July, he has been castigated by regulators for how he steered customers to Par Funding, a Philadelphia lender founded by a twice-convicted felon. With his heavy radio advertising and free steak sales dinners, Vagnozzi, 51, touted alternatives to Wall Street.
Source: How Dean Vagnozzi’s Clients Lost Bets On The Dead
Actually the title to the original article is misleading.
Don’t bet on people dying to make your profits. Unfortunately some people do just that.
Life Partners founder Brian Pardo lived well in Waco, Texas, for a time. Pardo bought four planes and a yacht along with such artifacts as replicas of an ancient Egyptian sarcophagus and a pharaoh’s throne. His business eventually sold $2.4 billion in policies to 20,000 investors.
But in 2010 the Wall Street Journal reported that Pardo’s firm was relying heavily on an assembly-line doctor who was systematically under-predicting life expectancies. Life Partners’ sellers were living a lot longer than predicted — very good for them but hard on investors paying years of premiums without collecting death benefits,https://insurancenewsnet.com/oarticle/how-clients-of-an-advisor-facing-fraud-complaint-lost-bets-on-the-dead?utm_source=feedly&utm_medium=rss&utm_campaign=how-clients-of-an-advisor-facing-fraud-complaint-lost-bets-on-the-dead#
I’ve never been a fan of the life settlement business.
Never accept one of those free steak dinner offers.
“I just didn’t think I needed it yet, and I’ve committed most of my financial resources to my business,” says Silkoff, 31, the president and co-founder of MyRoofingPal.com, an online marketplace that connects property owners with roofing contractors.
COVID-19, though, forced Silkoff to consider his mortality. “I don’t want to leave my wife in debt should something happen to me,” he says. “Also, during the slowdown, I had more time to do the research.” So Silkoff purchased a 10-year term life policy with $500,000 of coverage for about $30 a month.Life Insurance In The Age Of COVID-19 — https://insurancenewsnet.com/oarticle/life-insurance-in-the-age-of-covid-19?utm_source=feedly&utm_medium=rss&utm_campaign=life-insurance-in-the-age-of-covid-19#.X1PyadR7nb0
A life insurance policy is an act of love.
Think about it.
COVID-19 Has Many Americans Reevaluating Retirement Plans
Roughly two in five Americans (38%) say the COVID-19 pandemic has impacted their retirement plans by having to retire later than planned, now not being able to retire at all or being forced into retirement. Plus, 41% are currently reevaluating their retirement plans to assess the financial impact of COVID-19. These are among the findings revealed by a new COVID-19 Tax Survey conducted online in May 2020 by The Harris Poll on behalf of The Nationwide Retirement Institute® among U.S. adults 18+. Heightened uncertainty and complexity are driving a need for greater financial protection. Roughly half of Americans agree that the COVID-19 pandemic has made them recognize the need for annuities to protect their investments against market risk (47%) and to protect their retirement income (48%). More than half of all U.S. adults (57%) and investors (60%) also say the pandemic has made them recognize the need for life insurance.
More survey results can be found in the full article at the link above.
The heightened uncertainty and complexity have definitely affected my own retirement plans.
The massive number of people out of work have definitely affected my own thoughts and feelings about work.
Retirement = work.
As long as my health holds up and as long as there’s someone out there willing to pay me to do what I do I plan on working.
COVID-19 has had the biggest short-term effect on life insurance in two ways:
Insurers extending grace periods for paying premiums.
Placing a greater emphasis on accelerated underwriting.
Full article at the link below.
Underwriting Among Early Effects Of COVID-19 On Life Insurance
“We’ve been investing in our technological capabilities for years, and those investments really paid off when we needed to transition quickly to a 98 percent work-from-home model,” said Nationwide CEO Kirt Walker.
I’ve been working from home for nearly 14 years. Social distancing comes naturally to me at this point in time. It’s interesting to me a virus will be remembered as the Gladwell tipping point for showing the corporate world a better way of working.
98% permanent WFH!
Massachusetts Mutual Life Insurance Company (MassMutual) today announced the launch of MassMutual HealthBridge, which will provide free term life insurance to the brave and resilient frontline healthcare workers across Massachusetts and Connecticut risking their lives during the COVID-19 pandemic.
MassMutual Donates $3B Of Free Life Insurance To Healthcare Workers
Even if you’re a big insurance company hater you have to admit this is pretty awesome.