In response to recent discussions surrounding charitable giving of life insurance policies and the prohibitions set by Section 152 of the Insurance Act (the Act), the BC Financial Services Authority (BCFSA) has released Information Bulletin number INS-20-003 on May 1, 2020 clarifying their position and interpretation on this matter. The first activity that Section 152 prohibits is advertisement as a purchaser of life insurance policies or of the benefits under the life insurance policies. BCFSA is of the view that the solicitation by bona fide charities of donations of life insurance policies or benefits is generally not prohibited under Section 152 of the Act. The second activity that...
Continue reading...
JPMorgan Chase & Co., New York, has agreed to sell Chase Insurance Group, its life insurance and annuity underwriting business, to Protective Life Corporation, Birmingham, Ala., for about $1.2 billion. Protective Life says it expects to close the sale in third quarter 2006. Chase is selling most of its insurance and annuity underwriting operations after deciding it could make more money offering straight banking services, said Charles W. Scharf, chief executive of Chase’s Retail Financial Services, which includes Chase Insurance. “We will continue to meet our customers’ insurance and annuity needs without underwriting the products,” Scharf said in a statement. A similar rationale was...
Continue reading...
The Protective Life Insurance Company offers a wide variety of life insurance products. Very popular for term life insurance, Protective Life also offers universal life insurance, indexed universal life insurance, survivorship life and whole life insurance. For most people, when they think of shopping for life insurance, the monthly premium plays a considerable part in their purchasing decision. Additionally, many consumers will perform some fashion of research on the company they choose, and that’s a good thing. Here, we hope to assist consumers in making their life insurance purchase decision by providing a review of a popular life insurer known as Protective Life Insurance. Overview of...
Continue reading...
Carriers Accordia Life/Global Atlantic Financial Group Global Atlantic Financial Group Limited, a multi-line insurance and reinsurance company, was founded at Goldman Sachs in 2004 and separated as an independent company in April of 2013. In less than a decade, Global Atlantic has established itself as an innovative insurance provider. The combined organization has over $30 billion in assets and 10 offices. Global Atlantic’s success is driven by experienced leadership, a long-term focus on policyholders, financial discipline and a culture that emphasizes teamwork, innovation and excellence. American General Life Companies (American General, United States Life) have been protecting the...
Continue reading...
OLDWICK, N.J.--( BUSINESS WIRE )--AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” of the primary life insurance subsidiaries of Protective Life Corporation (headquartered in Birmingham, AL), collectively known as Protective Life. Additionally, AM Best has affirmed the Long-Term ICR of “a-” and the existing Long-Term Issue Credit Ratings (Long-Term IR) of Protective Life Corporation. The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed list of these subsidiaries and ratings.) The ratings reflect Protective Life’s balance sheet strength, which AM Best categorizes as...
Continue reading...
This page uses JavaScript. Your browser either does not support JavaScript or you have it turned off. To see this page properly please use a JavaScript enabled browser. keeping you covered GAP/ADR Protect your purchase with Guaranteed Asset Protection (GAP) / Auto Deductible Reimbursement (ADR) coverage and drive with peace of mind. Typically your auto insurance covers the replacement value of your vehicle, however, in many cases there can be a GAP between this number and what is actually owed on your vehicle. GAP also covers your deductible on your insurance policy up to $1000.00. GAP protection covers you when you have a total loss on your vehicle and your automobile insurance does not...
Continue reading...
Why You Can Trust The Annuity Expert The Annuity Expert is a licensed annuity broker and insurance agency since 2008. We offer the largest selection of life insurance in the United States. We have been recognized as an authority of insurance by: What We Are Not We are not a publisher trying to advertise or sell your personal information to third parties. Our Purpose Our goal is to provide you with the best life insurance coverage at the cheapest cost to you. A Warning When applying for life insurance online, please be careful. If you are healthy and do not have any medical conditions, getting coverage should not be a problem. However, if you do have a condition, please contact us to help...
Continue reading...
latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/protective-life-insurance-completes-merger-of-captive-insurance-companies-60631860 content esgSubNav Protective Life Insurance completes merger of captive insurance companies Protective Life Insurance Co. has merged its special purpose financial captive insurance companies into one entity, Golden Gate Captive Insurance Co., effective Oct. 1. The companies are comprised of Golden Gate Captive Insurance, Golden Gate II Captive Insurance Co., Golden Gate III Vermont Captive Insurance Co., Golden Gate IV Vermont Captive Insurance Co. and Golden Gate V Captive Insurance Co. The move is part of...
Continue reading...
History and Structure Protective Life Insurance is perhaps the only life insurance company in the country founded by a former state governor. William Dorsey Jelks, who had served as governor of Alabama from 1901 to 1907, founded Protective Life Insurance in Birmingham soon after leaving office. By the 1920s Protective Life Insurance established an aggressive growth policy, becoming a major regional life insurance carrier in the South by the end of the decade. Over the years the company became somewhat national in scope. This culminated in the 1997 acquisition of the like-minded West Coast Life Insurance Company, which among other things became the first life insurance company to operate in...
Continue reading...
West Coast Life Insurance Company is a wholly owned subsidiary of Protective Life Corporation, a major insurance company. It was originally headquartered in San Francisco, California, but now is based in Birmingham, Alabama. West Coast Life sells whole, universal, and level premium term insurance products. It also has annuity products for individuals who want to supplement their retirement income. Protective Life Corporation has over $979 billion in life insurance policies in force including West Coast Life's book of business. Pros Explained Immediate Benefit Account: Rather than having to wait for a lump-sum check, West Coast Life offers an Immediate Benefit Account option. With the...
Continue reading...
