Ken Fisher Special to USA TODAY Published 7:43 AM EDT Mar 17, 2019 Ask someone why they’re investing for retirement, and they’ll usually give two answers: to cover post-retirement living expenses and to help provide for a spouse after they're gone. But what if "gone" comes far earlier than you expect? Term life insurance is a great – but often misunderstood – safety net. Term life insurance is a policy with a fixed end date – usually 10, 20 or 30 years out, depending on when you expect the kids to be out of the house and your nest egg to be sufficient. It is meant to ensure your family can cover funeral expenses, debt and other needs after you’re deceased. I bought a term life insurance policy after my children were born, and think it’s a smart move for most families. Those wanting lifelong coverage may find permanent life insurance more beneficial. Yet industry observers have found many folks don’t investigate life … [Read more...] about Life insurance: Here’s how companies price plans
American family whole life insurance
Are there hidden factors that you are not aware of in your financial plan that could cost you and those you care about drastic amounts of money? How frequently should you be reviewing your life insurance policy? Although life insurance is sometimes erroneously portrayed as a set-it-and-forget-it type of investment, the reality is that there are a variety of variables that can change along the way. We have all heard of the common changes in life events triggering updates in coverage needs or beneficiary changes. But what if the policy is owned by an Irrevocable Life Insurance Trust (ILIT) and managed by a third-party trustee? Life insurance owned by a trust is a unique investment asset, one that requires critical attention on a regular basis. A lack of policy diligence and structured review processes can wreak havoc on policy performance, or even trigger MEC status, which causes unexpected taxation on gains when the funds are withdrawn from a policy. An advisor in our … [Read more...] about Blog: Hidden Factors that Could Cost You Money: The Importance of a Life Insurance Policy Review
Life insurance company John Hancock made a splash recently with the news that soon all of its policies would come bundled with the option to let the company track your fitness -- via either a website and app, or through the use of a fitness tracker like an Apple Watch or Fitbit. The move underscores how fitness tracker data is an as-yet largely untapped gold mine for businesses -- particularly in industries like insurance, whose financial bottom line directly depends on the health of their customers. John Hancock isn't particularly shy about this: "The longer people live, the more money we make," as the company's CEO Brooks Tingle put it to The New York Times. The published research on Fitbits and similar devices, however, has yet to uncover a clear link between fitness tracking and fitness, to say nothing of longevity and mortality, or of insurance companies' profits. But there is some solid evidence that if the use of the devices is paired with incentives like rewards, challenges … [Read more...] about Should you hand over your Fitbit data to your insurance company?
By Washington Post | PUBLISHED: September 25, 2018 at 8:37 am | UPDATED: September 25, 2018 at 8:42 am By Christopher Ingraham | The Washington Post Life insurance company John Hancock made a splash last week with the news that soon all of its policies would come bundled with the option to let the company track your fitness – via either a website and app, or through the use of a fitness tracker like an Apple Watch or Fitbit. The move underscores how fitness tracker data is an as-yet largely untapped gold mine for businesses – particularly in industries like insurance, whose financial bottom line directly depends on the health of their customers. John Hancock isn’t particularly shy about this: “The longer people live, the more money we make,” as the company’s CEO Brooks Tingle put it to the New York Times. The published research on Fitbits and similar devices, however, has yet to uncover a clear link between fitness tracking and fitness, to say … [Read more...] about An insurance company wants you to hand over your Fitbit data so it can make more money. Should you?
/EIN News/ -- GLENMONT, N.Y., July 02, 2018 (GLOBE NEWSWIRE) -- American National Life Insurance Company of New York (American National) announces a new product, Signature Whole Life Insurance (SWL), available [July 2, 2018]. This industry leading life product provides guaranteed lifetime Death Benefit protection and the option to accumulate additional death benefit through the Paid-Up Additions Rider and the Guaranteed Insurance Rider. American National has enhanced its Whole Life solution for the market using the 2017 CSO tables. While other carriers are exiting or scaling back their participating whole life, we are lowering our premiums on Signature Whole Life Insurance to provide a more competitive product. American National believes consumers want guarantees that their death benefit will be there when they need it and that they will not have to pay more premium later in the life of the contract. Signature Whole Life Insurance is a death benefit product that helps … [Read more...] about American National Life Insurance Company of New York Introduces an Industry Leading Whole Life Policy with a PUA Rider and Guaranteed Insurance Rider –Signature Whole Life Insurance