Insurance companies ↝ Life insurance

Stunned, shocked': insurance company stopped pay-outs to woman with cancer, Australia news, The Guardian

One of Australia’s biggest life insurance companies abruptly stopped insurance pay-outs to a woman with cervical cancer because it discovered she had sought help for mental health years before her diagnosis. TAL Life Limited began investigating the woman’s medical history because she’d taken out income protection insurance four months before her cancer diagnosis in December 2013, and after finding she’d sought help for mental health between 2007 and 2009, avoided her contract of insurance claiming she had failed to disclose a prior history of depression. It stopped paying her $5,000 a month, which it had done between January 2014 and May 2014, and told her it wouldn’t have offered her cover...

Why Do Insurance Companies Advertise So Much?

Why Do Insurance Companies Advertise So Much? How many insurance ad campaigns can you name off the top of your head? Probably a lot. Most of these campaigns are zany, full of jingles and catchphrases. They tend to be the kind of ads that stick in your head. Now think about insurance companies. Do you know which brands supply each of your policies? How much is the deductible in your health plan? Everyone should know the answers to these questions. Yet according to a 2016 survey by PolicyGenius, half the country still can’t define a deductible. Insurance is a competitive space, which is why companies create talking ducks to get our attention and cut through the clutter. But a desire to...

The benefits of captive insurance companies

The benefits of captive insurance companies BY ROBERT E. BERTUCELLI, CPA For many years, large corporations in this country have enjoyed many benefits from operating their own captive insurance companies. Most were established to provide coverage where insurance was unavailable or unreasonably priced. These insurance subsidiaries or affiliates were often domiciled offshore, especially in Bermuda or the Cayman Islands. The risk management benefits of these captives were primary, but their tax advantages were also important. In recent years, smaller, closely held businesses have also learned that the captive insurance entities can provide them significant benefits. These include the...

Booker T Washington Insurance Company, Inc.: Policyholder Information

Policyholder Information Company Overview Founded in 1923 and incorporated in 1931, Booker T. Washington Insurance Company, Inc., was one of the 10 largest African American owned life insurance companies in the country. The company is located in Birmingham, Alabama; is licensed in two states; and offers life, accident, and health coverage. The company was ordered into Rehabilitation on February 22, 2006. Its wholly owned subsidiary, Universal Life Insurance Company, was ordered into Rehabilitation on April 24, 2009. Booker T. Washington Insurance Company also owns several non-insurance subsidiaries. The Rehabilitator of Booker T. Washington and Universal Life entered into coinsurance/...

Can Insurance Companies Incentivize Their Customers to Be Healthier?

Behavioral economists know well the power of instant gratification and overoptimism that too often lead to poor decisions — like reaching for an extra slice of cake or putting off the dreaded morning run. The behavioral biases play out in a simple paradox: People overconsume health care but underconsume prevention, and insurers or taxpayers are left with the bill. The same plays out with many lines of insurance, where the immediate benefits of poor choices outweigh the often hidden cost of dealing with their consequences, such as reckless driving or failing to flood-proof infrastructure in highly exposed communities. Of all industries, insurance has a unique opportunity to align its...

Insurance companies - De Nederlandsche Bank

Insurance companies The insurance policy Insurance is an agreement you and the insurer each enter into. The policy is your proof that the agreement has been made. It summarises the risks you are insured against, and refers to the policy conditions. These are the conditions that your insurer has imposed by on the policy. It is important to read the policy conditions before concluding the insurance agreement. If you have questions, you should contact the insurer or intermediary. For more complex products, there is a 'key features document' explaining the product’s properties in more detail. The AFM supervises the accuracy of key features documents. When taking out an insurance policy, you...