Q. We had a new baby two months ago, and I keep getting offers in the mail for life insurance for us and for our baby. How do these companies know we had a baby, and how can we decide if the policies are good ones?— New dadA. Big brother really is watching.Before your baby was born, you probably did some research for the baby.Each trimester offers an opportunity for insurance marketers to target new parents who are online looking for information or shopping for the baby, said Betty Thomas, a chartered financial consultant and certified financial planner with Lassus Wherley, a subsidiary of Peapack-Gladstone Bank, in New Providence. “Needless to say, if you searched for anything online, the websites could have been tracked and any information gathered became an opportunity for insurance marketers to find you,” Thomas said. “If you bought baby items online, such as newborn supplies, the information provided on websites is a wealth of information to insurance … [Read more...] about How do life insurance companies know I had a baby?
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BINGHAMTON, N.Y. — Security Mutual Life Insurance Company of New York announced it has named John W. Jonassen as senior VP, chief underwriter, and Mark J. Melville as second VP of project and IT risk management. Jonassen will oversee Security Mutual’s underwriting and new business functions. Jonassen previously was VP of strategy and underwriting operations at EMSI Insurance. He began his career as an underwriting consultant for The Hartford Life Insurance Company, going on to serve as a senior underwriting consultant with Crump Life Insurance Services, followed by serving as chief underwriter for Diversified Brokerage Services, Inc. A graduate of Minnesota State University, Jonassen received a bachelor’s degree in business administration with emphasis on finance. Melville will be responsible for designing and documenting Security Mutual’s project and product portfolio management processes, as well as for project management of the company’s IT audits and … [Read more...] about Security Mutual Life Insurance appoints Jonassen and Melville as new officers
BINGHAMTON, N.Y. — Security Mutual Life Insurance Company of New York announced it has appointed Ernest J. Guerriero as VP of marketing and Timothy J. Williams as second VP of reinsurance. Guerriero will be directing marketing operations for Security Mutual’s individual life insurance and annuity products, and will also be involved in product development and agent education, according to a company news release. He has more than 20 years of experience in the life-insurance industry. He previously worked for Guardian Life Insurance Company, National Life Group, the MONY Group, and the CUNA Mutual Group. He was also the technical education director for the American Retirement Association in Arlington, Virginia. Williams will direct the operations of Security Mutual’s reinsurance department. His more than 25 years of experience in the life-insurance industry has included providing guidance on complex reinsurance cases, developing quality assurance controls, performing … [Read more...] about Security Mutual Life Insurance names two new officers
FRANKFORT, Ky. – Investors Heritage Life Insurance Company will create 75 full-time jobs at its Frankfort headquarters, doubling its Kentucky workforce throughout the next five years with a $1 million investment, Gov. Matt Bevin announced Wednesday. “Investors Heritage Life Insurance has made its home in Frankfort for nearly six decades, and it has become a highly respected name in the industry during that time,” Gov. Bevin said. “We take pride that the company’s roots are in the commonwealth, and we appreciate the decision to further invest right here in Kentucky. We continue to see homegrown companies decide to expand their operations in the commonwealth because of our pro-business and pro-growth policies. Congratulations to Investors Heritage and the Frankfort community on this new opportunity.” The company’s investment and job creation follow a merger in March of its holding company, Investors Heritage Capital Corp., and an affiliate … [Read more...] about Life insurance company to add 75 jobs in Frankfort
CHICAGO, Sept. 25, 2018 (GLOBE NEWSWIRE) -- Midland National® Life Insurance Company announced the release of a new Premium Deposit Agreement (Agreement) feature for most single life Indexed Universal Life products. The new feature allows the policyowner to submit a lump sum and creates a Premium Deposit Account (PDA) for the purpose of automatically funding future annual premium payments to a policy. This provides many potential benefits including worry-free premium payments, opportunity for growth, and helping avoid creating a Modified Endowment Contract (MEC)1. /EIN News/ -- The PDA will automatically pay the policyowner’s annual premium payments, so they don’t have to worry about making future payments (as long as there are sufficient funds in the PDA). A competitive interest rate of 3.25% (subject to change in the future) is applied to the funds taken from the PDA before it’s used to pay the premium. Therefore, more money is put into the life insurance … [Read more...] about Midland National Life Insurance Company Introduces New Premium Deposit Agreement for Single Life Indexed Universal Life Insurance Products