INSURANCENEWSNET MAGAZINE
In this issue..
- IUL illustrations: That was then; this is now
- Standing on the shoulders of giants — With Bryan Simms
- A man on a mission — With Foresters Financial’s Matt Berman
- Saving for college can impact your clients’ retirement
- 5 growth opportunities for the life insurance industry
SPECIAL FEATURE
A man on a mission — With Foresters Financial’s Matt Berman
Matt Berman says he’s in a unique position as president and CEO of Foresters Financial, a 150-year-old fraternal organization wi.. Read More
From The Field
The definition of insurance and why it matters for captives
The IRS declines to adhere to a coherent definition of insurance and leverages byzantine case law against taxpayers in an arbitrary and capricious manner.
Best practices for identifying compliance risks
Compliance incident management involves identifying, evaluating and mitigating incidents that might constitute breaches of laws, regulations or company policies.
Help parents of special-needs children plan for their financial future
Parents of a child with special needs are haunted by one question: “Who will take care of my child when I’m gone?”
LIFE INSURANCE NEWS
Pacific Life brings new indexed universal life product to market
Pacific Life Insurance Co. is out with a new flagship indexed universal life insurance product.
- Term vs. Perm: Which is right for your clients?
- State genetic information bans not necessary, life insurance lobbyists say
- MassMutual partnership with Insurify enables advisors to help clients comparison shop for P/C
- $80M verdict for 3 workers fired for taking ‘off the record’ time off in California
- NY lawsuit over premium financing tests oversight promised by Reg 187
ADVISOR NEWS
Avoid these estate planning mistakes
By the time you reach retirement age, you may have accumulated a 401, IRA and other investment accounts, along with insurance policies and physical properties. You'll use some of these assets to support your retirement, but the rest may end up in your estate- which is why an estate plan is so important. So, to leave a legacy for your family and those philanthropic…
- Interest rates to remain at 2-decade high until inflation further cools, Fed says
- The Fed's new interest-rate outlook may roil markets
- 95% of parents saving for college expect to cover more than half of expenses
- HSBC announces surprise retirement of chief executive
- With mixed economic signals, the Federal Reserve is likely to stand pat on rates
Annuity News
Annuity sales up 21% in the first quarter, LIMRA reports
Annuity sellers had another very strong quarter in Q1, with $113.5 billion in sales, 21% higher than the first quarter 2023. Read More
Fiduciary
‘Major changes’ required of producers under DOL fiduciary rule: analyst
It will require "major changes" from insurers on down for independent producers to get into compliance with the Department of La.. Read More
Insurance & Financial Fraud
Fraud investigator for NYC Dept. of Homeless Services charged with COVID fraud
Brooklyn resident Olabanji Otufale, 41, abused his position by accessing names, dates of birth, Social Security numbers and phot.. Read More
Beavercreek insurance agent accused of defrauding clients out of $235,000
May 1— A Beavercreek insurance agent is facing dozens of charges after she reportedly convinced clients to invest at least $.. Read More
Utah gave $40M in tax breaks to a solar company accused of fraud.
The Utah Investigative Journalism Project. "I guess you could call me a tree hugger," said Washington state resident .. Read More
Caring for older Americans’ teeth and gums is essential but Medicare generally doesn’t cover it
Getty Images. By Frank Scannapieco, University at Buffalo and Ira Lamster, Stony Brook University (The State University of New Y.. Read More
Who should get death benefits from insurance policies for Pettit's brother, who died by suicide?
Chris Pettit— 57, a longtime San Antonio probate, estate planning and personal injury lawyer— received a 50- year prison sentenc.. Read More
Public health plans in the U.S. must cover gender identity surgery
A U.S. appeals court ruled Monday that health insurance plans run by U.S. states must cover gender-reaffirming surgery for trans.. Read More
Property and Casualty News
‘Hurricane Season from Hell’ could drive up insurance costs on vulnerable coastline
The U.S. could see five to eight hurricane impacts, three to five of those major, according to the forecasting service WeatherBE.. Read More
Lincoln-area property owners may be able to get tax break for tornado damage
Lancaster County Assessor Dan Nolte encouraged owners who have storm-related property damage to file a Report of Destroyed Real .. Read More
Texas home insurance among most expensive
The Texas housing market is hot. With four of the state's metro areas featured on U.S. News& World Report's top 10, th.. Read More
Health/Employee Benefits News
Medicare and retirement planning
Budgeting for health care coverage is something we have to do– or should do if we don't. As we get older, and closer to ret.. Read More
CVS Health chops 2024 forecast as cost struggles with Medicare Advantage persist
CVS Health missed first-quarter expectations and chopped its 2024 outlook more than a dollar below Wall Street's forecast. .. Read More
The Cigna Group reports strong Q1 2024 results, raises 2024 outlook
BLOOMFIELD, Conn., May 2, 2024/ PRNewswire/-- Global health company The Cigna Group today reported strong first quarter 2024 res.. Read More