Six life insurance companies operating in the US have been fined by the New York Department of Financial Services (NYDFS) for improperly letting their customers switch their existing annuities to another type that generated less income. The NYDFS said that the decision is part of an industrywide investigation into practices involving insurers’ recommendations to replace a type of annuity with another. Last year, the regulator issued a new rule which required that the recommendations for buying life insurance and annuities be in a consumer’s “best interest” and that it should “appropriately address” the consumer’s insurance needs and financial...
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How financially independent are you? We all play to our strengths and leave the jobs we don’t like to our partners – whether it’s over the household chores or the household finances! You might manage the bills, while your partner handles the insurance policies, you deal with the kids’ savings accounts, your partner’s in control of your shared savings, you might save for the family holiday and they save for old age? But had you ever considered that by shying away from some areas, you are not doing yourself any favours? You could be leaving yourself unnecessarily financially vulnerable. Financially Fabulous carried out a survey earlier this year on money as a...
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(Reuters) - Six U.S. life insurers have agreed to pay a total of $1.83 million for improperly causing customers to switch their existing annuities to a different type that generated less income, New York State’s financial regulator said on Tuesday. The action is part of an industrywide investigation into some practices related to insurers’ recommendations to replace a specific type of annuity with another, the New York Department of Financial Services (NYDFS) said. The insurers will collectively return a total of $1.15 million to New York customers and pay $673,000 in penalties, the regulator said. At issue is a regulation that NYDFS issued last year requiring that...
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Specialist defined benefit (DB) pension insurer Rothesay Life plans to raise £500m (€561m) from its shareholders to fund a bumper period for new transactions, it announced yesterday. The insurance group said it expected to write more than £10bn of new business during 2019, having “several significant bulk annuity transactions” in the pipeline. It completed £3.7bn of bulk annuity business since the start of July, bringing its total new business volume for 2019 so far to £4.4bn. If it hits this target, it would mark a record year for new business for Rothesay Life. “Balance sheet strength combined with substantial new equity capital being contributed by our shareholders will help Rothesay...
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Accenture (NYSE: ACN) has been positioned as a Leader in Gartner’s “Magic Quadrant for Life Insurance Policy Administration Systems, North America*” report for its Accenture Life Insurance and Annuity Platform (ALIP). The report evaluated 12 different software vendors on 15 criteria and placed Accenture in the Leaders quadrant. According to the report, “Scalable, core systems that support continuous change are an essential foundation on which to assemble a digital business technology platform.” “Accenture invests heavily in innovation, talent and partnerships to help our clients excel in a digital market and optimize business outcomes at scale,”...
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Life Insurance UK Tern or Life Insurance — despite all the comparison sites - we believe people need to get qualified advice about their Term life insurance rather than just take out policies based on price alone — yes it may be the cheapest — but does it actually provide you with the life insurance coverage you thought it did? Whether you're looking to provide a financial safety net for your loved ones, moving house or a first time buyer looking to arrange your mortgage life insurance - or simply wanting to add some cover to what you've already got - you'll want to make sure you choose the right type of term life insurance cover and get a great deal too. When it comes to...
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Global Indexed and Whole Juvenile Life Insurance Market Size, Status and Forecast 2019-2025 presents the fastest developing industry chain structure, growth opportunities, development status of the market. The Indexed and Whole Juvenile Life Insurance market report analysis includes market size, upstream situation, market segmentation, price & cost and industry environment, latest trends, revenue analysis, and industry players. In addition, the report outlines the factors driving industry growth and the description of market channels. The large scale adoption of Indexed and Whole Juvenile Life Insurance is fueling the rapid expansion of the industry. The report then explores different...
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ActiveQuote Global Reach, Dunleavey Drive Cardiff South Wales CF11 0SN 0800 862 0373 Health insurance for skin cancer Did you know that the 10 hottest years in the UK since 1884 have all happened since 2002? If you’ve been basking in the recent sunshine, you might have spotted the new Met Office analysis revealing the surprising timeline - as well as sizzling in the sun as temperatures last month reached a record-breaking 38.7 °C! But with the headlines come the annual health warnings about sun exposure and the risks of skin cancer. So, how likely are you to get it, and what can you do if you get a diagnosis? According to the NHS, skin cancer is one of the most common cancers in the world...
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Private Life Insurance Policy Quotes Find the best life insurance deal using our easy quote evaluation form. We provide an experienced and easy to use website to compare the very best UK life insurance carriers. Finding a life insurance policy that matches your own needs and budget can be daunting task. We provide a simple to operate service to assist you to narrow down the best choice from reputable businesses like AXA, Aviva, Halifax, Prudential, Tesco, Standard Life, Pheonix, Pearl, Royal London, Windsor Life Insurance and many other top quality private life insurers. By filling out our quote evaluation form, we could be able to provide you with up to 40% savings with your policy...
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