Life Insurance Policy Locator finds millions for Delaware users Delaware’s Department of Insurance released new data this week about local use of the Life Insurance Policy Locator. Delaware made the Life Insurance Policy Locator available in November of 2016. And since then Insurance Commissioner Trinidad Navarro says it has found millions dollars for beneficiaries, “This is a tool that can be used by people when someone passes; it’s free. And we’ve had tremendous success with this program; it has been almost four years now and during that time period we’ve recovered over $3.5 million for people who otherwise may not have had an opportunity or a mechanism to find policies that benefited...
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KANSAS CITY, Mo., July 8, 2020 /PRNewswire-PRWeb/ -- The class action was filed in June 2016, in the Western District of Missouri by Michael Vogt and other individuals who owned universal life insurance policy form 94030 issued by State Farm. The lawsuit alleged that State Farm breached the terms of the policies by overcharging policyholders through cost of insurance provisions causing policies to lose value and in many cases lapse, leaving many without life insurance. Trial commenced June 1, 2018 and the jury awarded $34.3 million to approximately 24,000 Missouri policyholders. State Farm appealed to the Eighth Circuit asserting various errors and Vogt cross appealed. Vogt prevailed on all...
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KANSAS CITY, Mo. (PRWEB) July 08, 2020 The class action was filed in June 2016, in the Western District of Missouri by Michael Vogt and other individuals who owned universal life insurance policy form 94030 issued by State Farm. The lawsuit alleged that State Farm breached the terms of the policies by overcharging policyholders through cost of insurance provisions causing policies to lose value and in many cases lapse, leaving many without life insurance. Trial commenced June 1, 2018 and the jury awarded $34.3 million to approximately 24,000 Missouri policyholders. State Farm appealed to the Eighth Circuit asserting various errors and Vogt cross appealed. Vogt prevailed on all issues. “We’...
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Sompo Himawari Uses Omniscience Artificial Intelligence as Part of new Consumer Service Omniscience today disclosed that Sompo Himawari Life Insurance Company has adopted Omniscience artificial intelligence (AI) technology as part of a new consumer service. This Omniscience technology is an important onramp for Computational Insurance™. "An entirely new business model is needed for the insurance industry which faces challenges and stresses from more directions than ever before," said Pallavi Ramnarain, Omniscience Vice President of Business Development & Strategy. "The ability to use, verify, and manipulate every piece of information digitally is an important element of Computational...
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The report on the Universal Life Insurance market provides a bird’s eye view of the current proceeding within the Universal Life Insurance market. Further, the report also takes into account the impact of the novel COVID-19 pandemic on the Universal Life Insurance market and offers a clear assessment of the projected market fluctuations during the forecast period. The different factors that are likely to impact the overall dynamics of the Universal Life Insurance market over the forecast period (2020-2026) including the current trends, growth opportunities, restraining factors, and more are discussed in detail in the market study. Universal Life Insurance Market report provides in-depth...
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Insuritas Partners with Haven Life to Accelerate Life Insurance Sales through Financial Institutions EAST WINDSOR, CT / ACCESSWIRE / July 9, 2020 / Insuritas today announces a partnership with Haven Life, the customer-centric life insurance agency backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual), to bring 100% no medical exam term life insurance to Insuritas' market of over 10 million users nationwide. Through this new partnership, banks and credit unions on the Insuritas platform will be able to connect their depositors to a leading, entirely digital life insurance solution. 'We believe that by leveraging proprietary data and trusted, long-standing...
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It is always better to estimate a sum which ensures you do not leave behind any financial obligation for your loved ones. (iStockphoto) How much life insurance do you need? 2 min read . Updated: 09 Jul 2020, 06:00 PM IST Avneet Kaur Do not go by any thumb rules to calculate your life insurance cover Here are two common methods to calculate your life insurance needs Here we will discuss two common methods to calculate life insurance cover to ensure the same standard of living for your dependents. You can sit with a pen and paper to do the calculations. Multiply your annual income by the number of years you would want to provide for the financial needs of your family. You can subtract the...
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PALO ALTO, Calif.--( BUSINESS WIRE )--Omniscience today disclosed that Sompo Himawari Life Insurance Company has adopted Omniscience artificial intelligence (AI) technology as part of a new consumer service. This Omniscience technology is an important onramp for Computational Insurance™. “An entirely new business model is needed for the insurance industry which faces challenges and stresses from more directions than ever before,” said Pallavi Ramnarain, Omniscience Vice President of Business Development & Strategy. “The ability to use, verify, and manipulate every piece of information digitally is an important element of Computational Insurance.” The Omniscience AI being used by the...
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There’s certainly been plenty of volatility and uncertainty the past few months, but one aspect of your financial picture has probably remained stable: your need for insurance. And since National Insurance Awareness Day is observed on June 28, now is a good time to review your overall insurance coverage to determine if you and your loved ones are well-protected. You might be surprised at the lack of protection among your fellow citizens. Less than 60 percent of Americans have life insurance, and just about half of those with insurance are underinsured, according to LIMRA, a research organization. Of course, you might think the reason so many people don’t have insurance is because they don’t...
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Ryan Skinner, the Founder and Co-owner of Summit Financial Partners, a firm offering services that include retirement planning, life insurance, and long-term disability, as well as author of Taking Stock: Protect Your Wealth and Create Reliable Income for a Happy and Secure Retirement again joins Enterprise Radio. Many business owners do not have a plan for how their business will continue beyond their active leadership and control. Talk about the importance of business succession planning. Business succession can be a very costly process – how do you recommend that business owners plan and prepare for this endeavor? How should business owners bring this topic up with the relevant parties,...
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