Term Insurance

(NAPSI)-Many consumers are finding they can drive down the cost of car insurance-and the time it takes to select the right policy-by contacting an independent insurance agent or broker. Because they represent many different insurance companies, independent agents have the flexibility to review rates and coverage from competing carriers and get you the best deal. Plus, they can offer affordable protection for your home, business and other assets. So rather than spending hours gathering quotes from various companies, you can get it done with one simple call or visit to your independent agent or broker. If you're thinking of contacting an independent agent, here are a few things to consider: • What's your lifestyle? Many factors determine auto insurance rates, not just vehicle year, make and model.

Time to Reprice Your Life Insurance

If only everything you had to buy were like life insurance. Comparison-shopping for policies is easy, and prices have been going down for more than a decade. For example, a healthy 40-year-old man paid at least $995 per year for a $500,000 term-insurance policy with a 20-year rate guarantee in 1994. Now, the same policy would cost him as little as $355. And you don't have to be in the best of health to find good deals. Until recently, it was nearly impossible to buy life insurance if you had been diagnosed with cancer. Several years after completing treatment you might have been able to find a policy, but you would probably have had to pay two to three times as much as a healthy individual. Today, however, some patients who have had breast or prostate cancer, as well as diabetes and coronary-artery disease, are eligible for policies at standard rates.

AIG Auto Insurance Launches GPS Based Teen Driver Pilot Program

AIG Auto Insurance today announced the AIG Teen GPS Program for auto insurance policyholders with teen drivers. According to the National Highway Safety Administration (www.nhtsa.gov), auto accidents are the leading cause of death for 16 to 20 year-olds, with roughly 6,000 young lives lost annually. The program will initially be piloted in Arizona, Illinois, New Jersey, Pennsylvania, South Carolina and Washington, and uses GPS technology to allow parents of teen drivers to monitor the location of the teen's car and driving.

After installing a small GPS unit, which is easily set up in 20 minutes, parents can instantly determine the exact location of the teen's car via the Web or any phone. Additionally, the AIG Teen GPS Program will automatically send the parent an e-email and/or text message if the teen's car exceeds pre-defined speed limits or is driven too far from a pre-defined location (home, school, work, etc.).

Learn About Life Insurance; Part 3: What are the principal types ...

There are two major types of life insurance—term and whole life. Whole life is sometimes called permanent life insurance, and it encompasses several subcategories, including traditional whole life, universal life, variable life and variable universal life. In 2003, about 6.4 million individual life insurance policies bought were term and about 7.1 million were whole life.Life insurance products for groups are different from life insurance sold to individuals. The information below focuses on life insurance sold to individuals.TermTerm Insurance is the simplest form of life insurance. It pays only if death occurs during the term of the policy, which is usually from one to 30 years. Most term policies have no other benefit provisions.There are two basic types of term life insurance policies—level term and decreasing term.Level term means that the death benefit stays the same throughout the duration of the policy.

ING Introduces ROP Term Life Insurance

MINNEAPOLIS, March 14 /PRNewswire-FirstCall/ -- ING has introduced ING Return of Premium Term life insurance. Issued by ReliaStar Life Insurance Company, ING Return of Premium Term offers individuals valuable death-benefit protection from term life insurance with the ability to get all of their premiums back at the end of the policy's term (excluding flat extras). "This type of term insurance appeals to people who are concerned about buying a product they think they may never need," said Jim Gelder, president of ING Life Distribution. "At the end of the level term period, they get back what they've paid for the policy. For many people, it is like buying a home versus renting an apartment." Like traditional term life insurance, return of premium term life insurance offers a fixed death benefit with a level policy premium for a pre- determined period of time, typically 15, 20 or 30 years.

FSB targets life assurers' funds for closer scrutiny

The life assurance industry is slowly having its wings clipped in order to give retirement fund members greater protection. Historically, the life assurance industry has been given virtually total freedom of movement to do as it wants with any retirement funds it manages under a policy. These funds include everything from retirement annuity (RA) funds, preservation funds for individuals, through to umbrella funds and employer-sponsored funds where the assets are invested through a life assurance policy. These funds are known as underwritten funds. The funds were subject to far less regulation and regulator oversight because it was considered that the Long Term Insurance Act provided sufficient security for members. The life assurance industry is based on the risk assurance principle of a benefit being promised in return for a premium.

CalPERS opens enrollment to long-term care plan

For the next three months, public employees can apply for long-term care coverage offered by the California Public Employees' Retirement System.

Long-term care insurance helps consumers offset a large share of the costs. CalPERS' nonprofit program offers policyholders a choice of maximum daily benefits ranging from $140 to $250, with or without inflation protection.

Long Term Insurance: Many Customers Unreasonably Denied Claims

New York, NY: Reaction to a New York Times article (March 26, 2007) highlighting problems with the long term insurance has been widespread, with people across the US condemning the actions of companies like Conseco. From Hillary Rodham Clinton asking the Government Accountability Office (GAO) to look into the matter, to individuals filing lawsuits against dishonest long-term insurers, people are taking action against companies that take advantage of seniors. The article gave numerous examples of the ways in which long term insurance companies deny seniors' claims, leaving the seniors without a way to pay for their long term care, even if they have no way of looking after themselves. In some cases, families of the seniors wind up paying thousands of dollars to ensure that their loved ones are cared for, even though the seniors have faithfully paid into a long term insurance policy.

Hamlin Signing Buys Insurance At Free Safety

IRVING, Texas - Trying to plan for tomorrow yet cover themselves today, the Cowboys purchased a one-year term insurance policy at free safety on Friday by signing free-agent safety Ken Hamlin.

The Cowboys basically got their cake, and can eat it, too, thanks to this shrewd deal.

That they signed Hamlin ensures they will have at least one veteran to play free safety alongside strong safety Roy Williams, and most importantly a four-year veteran Cowboys owner Jerry Jones and new head coach Wade Phillips trust can get their defense lined up properly.

But since the deal is only for one year, and a total package of just $2.5 million - that includes minimal signing bonus, base salary and incentives - the Cowboys have not backed themselves into a competitive corner. Hamlin's signing - at least his contract - does not preclude Patrick Watkins, last year's nine-game rookie starter, from competing to regain his starting job.

Penn Mutual Introduces Guaranteed Term 10-15-20 Life Insurance

Business Editors/Insurance Writers HORSHAM, Pa.--(BUSINESS WIRE)--March 22, 2007--The Penn Mutual Life Insurance Company (Penn Mutual), the country's second-oldest mutual life insurer, recently added Guaranteed Term 10-15-20 to its competitive line of life insurance and annuity products. Introduced to help consumers meet their immediate needs for financial protection and security with term insurance, the policy also provides them with options for permanent coverage in the future. All guarantees are based upon the claims-paying ability of the issuer. The fixed, or level, annual premium can make obtaining high levels of coverage surprisingly affordable. This makes it ideal for young families or new businesses with limited resources who need a certain amount of life insurance protection, but may feel put off by the cost.

Q4 2006 Conseco, Inc. Earnings Conference Call - Final

OPERATOR: Thank you for holding, and welcome to the Conseco teleconference. We will begin an address by Dan Murphy, Conseco's Senior Vice President of Investor Relations. During the presentation, all teleconference participants will be in listen-only mode. A question-and-answer session will follow the presentation. [OPERATOR INSTRUCTIONS] Thank you for your attention and here is Dan Murphy. DAN MURPHY, SVP, IR, CONSECO, INC.: Good morning, and thanks for joining us on Conseco's fourth quarter earnings conference call. I'm pleased to have several key Conseco executives on the call with me today, including Jim Prieur, Conseco's CEO; Gene Bullis, Chief Financial Officer; Mike Dubes, President of Conseco Insurance Group; Scott Perry, President of Bankers Life; Greg Barstead, President of Colonial Penn Life; and John Wells, Senior Vice President of Long Term Care.

SBA not allowed to forgive loans

The Answer Spot is a weekly feature that addresses your post-Hurricane Katrina questions. To submit a question, e-mail it to insurance@timespicayune.com.

In this example, the SBA would act in accordance with terms in the mortgage agreement signed with the borrower. Generally, under the mortgage agreement, the loan is due and payable when the property is sold or transferred.

Teens Get Needed Access To Care With State Health Insurance

When given health insurance through the state children's health insurance program (SCHIP), teens see their doctors more often, racial disparities are eliminated and more preventive care is received. This often-overlooked age group also received more counseling from their health care providers about guns, smoking, drugs, alcohol and sexuality - all issues that impact their long-term health.

"Adolescents have the worst access to health care among children," said Jonathan Klein, M.D., M.P.H., associate professor of Adolescent Medicine at the University of Rochester Medical Center and author of a paper on the subject in this month's Pediatrics. "But when given access through the state children's health insurance program, or SCHIPs, they receive the preventive care that helps them grow into healthy adults."

The study surveyed about 1,000 adolescents and their parents shortly after enrollment in New York's SCHIP program, Child Health Plus, and again a year later.

Go with straight term over universal life insurance

Dear Bruce: I read your column every week, and I am impressed by your knowledge. That is why I would like to get your feedback on universal life insurance. I met with representatives from a financial institution, and they were pitching this type of insurance policy for $600 a month. The $500,000 policy has investment options, I can withdraw money without getting taxed until my death and my family gets the insurance money plus whatever value on the investments (tax-free). I am 46 years old — is this a good investment for me? Or should I get a term-life policy for $500,000 with premiums of $50 a month, and invest the $550 ($600 minus $50) in my 401(k) or annuities? I was thinking of refinancing my current fixed-loan mortgage to an interest-only loan and withdrawing some cash to buy another house.

Barack Obama Renews His Call for Investigation into Long-Term Care ...

MASON CITY, Iowa--(BUSINESS WIRE)--April 5, 2007--During a community meeting on Health Care in Mason City, Iowa this morning, Barack Obama renewed his call for an investigation into the abuses in the long-term care business. "Today I am renewing my call for an investigation into the fraud that is running rampant in the long-term care business," said Barack Obama. "We're going to end it because it's about time Washington stood up to insurance companies so that families and seniors across the country can get the care they deserve." The community meeting on Health Care this morning was Obama's second in what will be a series of similar gatherings across the country where he will listen to providers, consumers, and experts about their experiences with the Health Care system. On March 29, Obama wrote a letter to the head of the Government Accountability Office calling for an investigation into long-term care following a report in the New York Times of a high number of claims being denied, and practices that make it "difficult - if not impossible - for policyholders to get paid." (complete letter enclosed below) April 5, 2007 The Honorable David M.