Penn Mutual’s Vantis continues partnership with Everdays Vantis Life Insurance Company, a wholly-owned subsidiary of The Penn Mutual Life Insurance Company, announced a new marketing and distribution partnership with insurtech platform Everdays, a firm that provides seniors over the age of 60 with health, retirement and end-of-life planning services. Everdays and Vantis Life will continue to team up on launching the comprehensive platform over the following months to market Vantis Life insurance products, provide customer support and offer various services, such as life insurance underwriting and policy issuing. Tom Harris, president of life insurance and annuities for The Penn Mutual...
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In the first quarter, clients flocked to individual life insurance products with performance that was tied to investment indexes, according to new life sales survey data from Wink. Clients also increased purchases of simple, classic whole life policies. Clients reduced purchases of traditional, middle-of-the-road universal life policies. Wink is a life and annuity market tracking firm based in Des Moines, Iowa. Its U.S. individual life survey figures reflect only the performance of non-variable, permanent life products, not of products such as term life or variable universal life. What It Means Clients seem to be going with plain vanilla products when their top fear is volatility, and with...
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An insurance broker is offering advisors and their clients a new long-term care planning tool. HCG Secure has teamed up with Guarantee Trust Life Insurance to introduce the Home Life Secure life insurance policy. The policy combines home care benefits with a whole life insurance policy. The life-home care hybrid policy can provide $10,000 to $150,000 in home care benefits. What It Means Aside from scenarios that involve clones or the arrival of hostile space aliens, just about everything that could have gone wrong in the U.S. market for stand-alone long-term care insurance went wrong between 2000 and 2015. That led to a slump in long-term care planning product development as many baby...
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TORONTO, May 12, 2022 (GLOBE NEWSWIRE) -- ECN Capital Corp. (TSX: ECN) (“ECN Capital” or the “Company”) today reported financial results for the three-month period ended March 31, 2022. For the three-month period ended March 31, 2022, ECN Capital reported Adjusted net income applicable to common shareholders from continuing operations of $14.3 million or $0.06 per share (basic) versus $13.8 million or $0.06 per share (basic) for the previous three-month period and $4.7 million or $0.02 per share (basic) for the same period last year. “I am extremely pleased with the growth and resilience of our businesses in Q1”, said Steven Hudson, CEO of ECN Capital Corp. “Triad, Source One and KG...
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If you’ve been thinking about therapy but are deterred by the fees, you’re not alone. “The cost of therapy will range significantly depending on the expert you’re seeing, whether you are from an urban or less-populated area, and whether your insurance provides coverage,” says Lynn Bufka, PhD, a licensed clinical psychologist and the associate chief of practice transformation at the American Psychological Association (APA), where she works on healthcare policy issues and improving mental health care delivery. Price can definitely be a barrier for individuals, she adds. There are no hard-and-fast rules for how much therapists may charge you. Organizations like the American Psychological...
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According to the Guttmacher Institute, Medicaid covered slightly more than 157,000 abortions nationwide in 2015, and almost all were in states that use their own funds to cover the cost. In the other 34 states—where about 7.5 million women ages 15 to 44 rely on Medicaid or CHIP—abortion isn’t covered unless it’s rape, incest, or the mother’s life is in danger. In South Dakota, abortion isn’t even covered in cases of rape or incest. Congress has also used the Hyde Amendment as a model to bar abortion access for those who get health coverage through the government as federal employees (335,000 women of reproductive age), military personnel (1.4...
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TORONTO, May 9, 2022 /CNW/ - E-L Financial Corporation Limited ("E-L Financial" or the "Company") (TSX: ELF ) (TSX: ELF.PR.F ) (TSX: ELF.PR.G ) (TSX: ELF.PR.H ) today reported a net equity value per common share of $1,773.43 as at March 31, 2022, compared to $1,884.08 as at December 31, 2021. For the first quarter ended March 31, 2022, E-L Financial reported consolidated shareholder's net loss of $236 million or $66.52 per common share compared to net income of $466 million or $127.90 per common share in 2021. Consolidated comprehensive loss for the first quarter of 2022 was $322 million or $90.52 per common share compared to comprehensive income $416 million or $114.05 per common share for...
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Thinking About Ditching Your Life Insurance Policy? Answer These 3 Questions First Many or all of the products here are from our partners that pay us a commission. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page. Find out if surrendering your life insurance policy is the right move by considering needs, wants, and costs. Key points Consider your financial needs for income replacement and estate liquidity. Think about your financial wants, such as goal funding and legacy gifting. Understand the full picture when it comes to the cost of your policy. There are many good reasons to...
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Cincinnati falls to Q1 loss on accounting shift Cincinnati Financial Corporation has reported a net loss of $273 million for the first quarter of 2022, down from a net income of $620 million for the same period last year. The loss was mainly due to the recognition of a $540 million after-tax reduction in the fair value of equity securities still held, due to accounting rules adopted effective in 2018 by the Financial Accounting Standards Board. In total, Cincinnati reported an after-tax investment loss of $526 million, down $924 million from an investment gain of $398 million in Q1 2021. This was, however, partially offset by a $25 million increase in after-tax property casualty...
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Investigators at the U.S. Government Accountability Office have come up with a list of federal tax forms and other data sources that could help government agencies track the use of offshore life insurance arrangements. The GAO developed the list in connection with a report on IRS oversight of micro-captive insurers. The report was prepared for Sen. Charles Grassley, R-Iowa, who is the highest-ranking Republican on the Senate Judiciary Committee. The GAO concluded that the data sources listed probably could not help the IRS come up with a micro-captive owner audit list. What It Means Even though the GAO thinks the data sources are inadequate for micro-captive auditors’ needs, the list in the...
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