Et life insurance ↝ Life insurance

Aviva-Astra form Indonesian life insurance joint venture, Reuters

LONDON/JAKARTA (Reuters) - British insurer Aviva AV.L has embarked on expansion into Indonesia through a partnership with local conglomerate PT Astra International ASII.JK to sell life assurance in a largely untapped market. Aviva is setting up a 50-50 joint venture called Astra Aviva Life to sell and distribute life products in Southeast Asia’s biggest economy, the company said on Friday. It did not disclose financial details but a source at the company said the deal would not have a material impact on the group’s balance sheet, adding that Aviva had beaten off stiff competition from other international insurers. “Every insurer wants to be in Indonesia,” said Maynard Arif, head of research...

USAA Life Insurance Company Names Chris Flint Senior Vice President and General Manager, Life and Health Insurance

Flint will be tasked with growing the life and health insurance product portfolios SAN ANTONIO, June 15, 2022 /PRNewswire/ -- USAA Life Insurance Company (USAA Life) announced today that Chris Flint has joined USAA as Senior Vice President and General Manager, Life and Health Insurance, reporting to Brandon Carter, President of USAA Life Insurance Companies. In this role, Flint will oversee the life and health insurance product portfolios, with responsibility to grow both product lines to serve more of USAA's members and bring additional value to the association. Flint brings more than two decades of experience in the financial services industry to USAA Life, and has extensive experience...

Haven Life and Kinly Partner to Make Term Life Insurance More Accessible to Black Americans

"From our very first day, Haven Life's core mission was to make life insurance more accessible and affordable for everyone. We recognize that systemic barriers still exist for Black Americans when it comes to equitable access to financial planning, banking and insurance products," said Wade Seward, Head of Distribution Strategy at Haven Life. "Our partnership with Kinly is central to our founding mission, and we remain committed to doing everything we can to break down access barriers." Available through an online application, Kinly members can apply for Haven Term and Haven Simple and, if approved, get coverage instantly. Haven Term offers up to $3 million in coverage for terms of 5, 15,...

23 Defendants Charged With Participating in $26 Million Life Insurance Fraud Scheme, USAO-NDIL, Department of Justice

You are here Justice News 23 Defendants Charged With Participating in $26 Million Life Insurance Fraud Scheme CHICAGO — A federal grand jury in Chicago has charged 23 defendants with participating in a fraud scheme through which they allegedly swindled ten life insurance carriers out of at least $26 million in fraudulent benefits. The defendants submitted fraudulent applications to obtain life insurance policies in the names of various individuals and then induced the carriers to pay death benefits by knowingly misrepresenting the identity of a different deceased person as the insured, according to an indictment unsealed today in U.S. District Court in Chicago. The fraud scheme charged...

Traffk Brings Hero Life Insurance Platform to Market

NEW YORK, May 19, 2022 (GLOBE NEWSWIRE) -- Insurtech startup Traffk has launched Hero Life Insurance, an innovative insurance solution empowering brokers and agents to compete in the digital insurance marketplace. Hero Life was born as the result of a strategic alliance with SCOR, the world’s fourth largest reinsurer, to develop alternative business lines with new digital players. Policies are underwritten by Assurity Life Insurance Company, A- (Excellent) by AM Best. This collaboration ensures Hero Life customers are backed by two of the most trusted names in the insurance industry. While life insurance sales hit their highest level in almost 40 years in 2021, nearly 70 percent of...

Vantis Life announces distribution agreement with Everdays

Company to provide life insurance products through unique digital planning platform WINDSOR, Conn., May 25, 2022 /PRNewswire/ -- Vantis Life Insurance Company, a Penn Mutual company, announces a strategic marketing agreement with Everdays, an insurtech firm providing retirement, health and end-of-life planning solutions focused on seniors that are entering or planning for retirement. As part of the agreement, Everdays will market Vantis Life insurance products through its online, digital planning platform. Vantis will provide accelerated digital approval, life insurance product underwriting, policy issue and support through Everdays' easy-to-use digital planning platform. "We're excited to...

Boston Mutual Life Insurance Company Appoints David Martin as Vice President and Chief Information Officer

New Executive to Oversee Information Technology Strategies at National Life Insurance Carrier OMAHA, Neb., May 24, 2022 /PRNewswire/ -- Boston Mutual Life Insurance Company, a national provider of insurance solutions for individuals and at the workplace, announced today the appointment of David Martin as Vice President and Chief Information Officer (CIO). Based in Omaha, Nebraska, Martin will oversee information technology (IT) initiatives and strategies for Boston Mutual as part of the company's newly integrated department, Customer Experience, Innovation, Projects & Technology (IPT) Strategic Business Center. "We are thrilled to have Dave on our team as CIO in our newly integrated...

BrokerCalls Pay Per Call Network Provides Qualified

Fort Lauderdale, May 19, 2022 (GLOBE NEWSWIRE) -- Fort Lauderdale, Florida - Fort Lauderdale, FL - BrokerCalls helps life insurance businesses achieve their sales goals by funneling pre-qualified, exclusive pay-per-call life insurance leads to insurance agents. In one of the most competitive markets, life insurance providers are turning to BrokerCalls and their pay-per-call life insurance leads so they can be the first in line to talk to motivated customers actively seeking life insurance. BrokerCalls sells live transfer leads that are completely exclusive which greatly adds to the ROI for companies using their services. As a pay-per-call model, life insurance providers buying qualified...

Inheritance tax: How to reduce the amount you pay, from giving to charity to taking out life insurance

Inheritance tax: How to reduce the amount you pay, from giving to charity to taking out life insurance More of us face falling into the inheritance tax net, so pass on as much as you can says Simon Malkiel, a private client lawyer specialising in UK tax and a partner at Howard Kennedy Inheritance tax on death is charged at 40% on anything over your tax-free allowance of £325,000 Inheritance tax is probably the UK’s most hated tax. It’s certainly not helped by the timing – just as people are grieving, the Government swoops in to take 40% of what their relatives had worked hard to leave behind. And so we resent it on principle – even though it affects fewer than 5% of us. However, it might...

What Is an Irrevocable Life Insurance Trust (ILIT)?, The Ascent

Life insurance is an important tool used in estate planning. Many people know that life insurance death benefits are not taxable, however many do not know that death benefits and cash value amounts can be included in the taxable estate. A properly managed irrevocable life insurance trust can ensure that the life insurance benefits are not included in the estate. What is an irrevocable life insurance trust (ILIT)? An irrevocable life insurance trust (ILIT, pronounced "eye-lit") is a trust that holds and controls one or more life insurance policies. The trust is the owner and the beneficiary of the life insurance policies. The grantor, who is typically the person who created and funded the...