PHILADELPHIA, Aug. 21, 2019 /PRNewswire/ -- Jeffrey H. Penneys, a personal injury lawyer and owner of Philadelphia -based Law Offices of Jeffrey H. Penneys, P.C., recently secured a $300,000 insurance settlement on behalf of a client who suffered severe traumatic injuries in a pit bull attack. The victim, a 32-year-old female, came to the rescue of her own dog when the pit bull escaped its yard unleashed. The settlement is noteworthy because insurance companies will frequently defend against such claims by alleging that the victim "assumed the risk" of being injured by intervening in a dog-on-dog altercation. In this case, attorney Jeffrey Penneys was able to convince the pit bull owner's...
Continue reading...
FAQ - Life Settlement What is a life settlement? A senior life settlement is the sale of an unwanted, underperforming or obsolete life insurance contract by an elderly individual to a third party for an amount less than the face value, but in excess of the cash surrender value. Life settlements were created out of the need for seniors to attain access to the death benefit while still living. With a life settlement, the insured has a medically determined life expectancy of at least three years or longer. How long have life settlements been around? The Supreme Court case of Grigsby v. Russell (1911) established a life insurance policy as transferable property that contains specific legal...
Continue reading...
If you live in the state of Texas you may want to review your life insurance policy and read all the terms associated with it. According to a recent survey conducted by the Texas Department of Insurance (TDI) several life insurance companies place beneficiary payments into a Retained Asset Account (RAA) instead of directly paying the beneficiary. In a survey of 160 life insurance companies the TDI found that around 71 of the companies offered RAA’s and over half of them use the accounts as the default policy settlement option. At the time the survey was conducted there were more than 51 thousand Retained Asset Accounts totaling over two billion dollars. Retained Asset Accounts (RAA’s) are...
Continue reading...
trending Market Intelligence /marketintelligence/en/news-insights/trending/dkdhxi331hvmsdukfgayuw2 content HCC Life Insurance facing $5 million settlement with regulators: sources HCC Life Insurance Co. is nearing a $5 million settlement with state regulators following an investigation into the company's sales of short-term health insurance plans, according to sources familiar with the matter. Approximately 42 states took part in an investigation of HCC's practices related to marketing and issues in the sales of short-term health insurance plans. Under the terms of the agreement, which has yet to be finalized, each state that signed on would receive a portion of the $5 million. To be...
Continue reading...
NOTE TO THE EDITOR: The Armenian National Committee of America (ANCA) has issued the following statement regarding the recently announced settlement of the New York Life Insurance case dealing with the return of Armenian Genocide-era assets. STATEMENT BY THE ARMENIAN NATIONAL COMMITTEE OF AMERICA (ANCA) The Armenian National Committee of America (ANCA) applauds the efforts of Martin Marootian and the plaintiffs for leading the campaign to hold New York Life accountable – even if only in small measure — for failing to meet its obligations toward the policyholders who perished in the Armenian Genocide. This case and its outcome mark a significant milestone for the Armenian nation in...
Continue reading...
Public Transportation to Life Insurance Settlement Analyst, 2063 Nostrand Ave in Brooklyn Wondering how to get to Life Insurance Settlement Analyst, 2063 Nostrand Ave in Brooklyn, United States? Moovit helps you find the best way to get to Life Insurance Settlement Analyst, 2063 Nostrand Ave with step-by-step directions from the nearest public transit station. Moovit provides free maps and live directions to help you navigate through your city. View schedules, routes, timetables, and find out how long does it take to get to Life Insurance Settlement Analyst, 2063 Nostrand Ave in real time. Looking for the nearest stop or station to Life Insurance Settlement Analyst, 2063 Nostrand Ave? Check...
Continue reading...
Have a life insurance policy that you don't want anymore? Don't cancel it, sell it! Life Settlement or Viatical Settlement allows for the owner of a life insurance policy to sell their policy, generally for between 50% and 80% of the death benefit. (Thanks, Dawn for the question about Life Settlement companies) Because they offer far more than the cash value of whole life and universal life policies, there are significant financial benefits to choosing a settlement over simply cancelling and cashing out a policy. They are also extremely helpful when an individual has a non-optimal life insurance policy and wishes to lower their premium costs by purchasing life insurance that is more...
Continue reading...
Life Settlements Create Opportunity for American Families to Address Financial Security Challenges, Says Former U.S. Senator Ben Nelson at 23rd Annual Fall Life Settlement Conference ORLANDO, Fla., Oct. 17, 2017 (GLOBE NEWSWIRE) -- Many American families today are facing financial security challenges and need to know their life insurance policies may be able to be monetized to help them address those financial needs, according to E. Benjamin Nelson, a former two-term U.S. Senator from Nebraska. Annual Fall Life Settlement & Compliance Conference, which was held October 15 at the Sandpearl Resort in Clearwater Beach, Fla. The theme for this year’s Fall Conference was “Charting the Course...
Continue reading...
Is claim settlement by insurers a worry? 5 min read . Updated: 17 Jan 2018, 12:12 PM IST Deepti Bhaskaran Life insurers have to pay all claims arising 3 years after policy issue. But a third of the claims are filed before this, and insurers' claim settlement record remains a concern In 2015 the rules for settling death claims for the life insurance industry changed significantly. As per the Insurance Laws (Amendment) Act, 2015, life insurance companies have to compulsorily pay all claims made 3 years after the commencement of a policy. Earlier, insurers had a 2-year window to investigate and deny early claims. However, insurers could deny a claim even after that—in case of fraud and...
Continue reading...
Perhaps you are starting to think about retirement and are needing some extra funds to replace the monthly income you have been accustomed to for years. Or maybe your insurance policy is no longer affordable and you need to get it off your hands. While you may be confused and worried in your specific situation, there is an option for you — life insurance settlement. Did you know you can sell a life insurance policy? Yes, this is true. This is an option for you if your monthly insurance premiums are no longer affordable for you, you are wanting to fund your retirement plans, or you’re simply looking to switch to a different insurance policy. Whatever the case is, selling an insurance policy...
Continue reading...
