Insurable Interest Canadian Insurance Blog

African-Americans view life insurance as more than a means to pay for final expenses. They are increasingly looking to life insurance as a way to transfer wealth and leave a legacy. Those were among the findings of New York Life’s Insurance Gap Survey that showed African-Americans report more financial stress than the overall population, but are also more proactive about addressing it. Half of African-Americans surveyed said planning for the future causes them a high degree of anxiety, versus 44 percent of all adults. Nearly one-third of African-Americans reported feeling financially insecure and 46 percent said they are concerned about maintaining their current level of income. Despite this level of financial stress, nearly 80 percent of African-Americans said having life insurance is a goal for them, versus 63 percent of all adults. More than 90 percent of African-Americans said they believe life insurance helps future generations succeed. “In thinking about their financial futures, African-Americans recognize the opportunity to use life insurance to protect their families and at the same time, create wealth for the black community at large,” said Eric Jackson, New York Life corporate vice president and market manager. “Our agents are consistently seeing attitudes about life insurance shift...

PARSIPPANY, N.J., March 6, 2019 /PRNewswire/ — Crump Life Insurance Services (Crump) and SelectQuote, an Overland Park, Kan. and San Francisco-based direct marketing organization, today announced the start of a multi-faceted strategic relationship that will bring much needed life insurance and retirement protection coverage to more distributors, businesses and consumers. “LIMRA data shows more than 55 percent of the population would feel adverse effects within a year with the loss of a primary wage earner’s income. We believe combining the resources of our two powerhouse organizations can help grow the number of people protected by the products we, and our intermediaries, offer through customer-focused efficient and compliant solutions,” said Crump President, Rob Carney. “The relationship begins with SelectQuote becoming a member of Crump subsidiary Tellus Brokerage Connections’ independent agency network,” said Senior Vice President and General Manager, Tellus Brokerage Connections, Jim Duff. “This affiliation supports both organizations’ long-term strategy of growth, bringing SelectQuote access to the Tellus resources, processes and products, while strengthening SelectQuote’s support of and offerings to clients,” explained Duff. “SelectQuote is excited to work closely with Crump and Tellus to enhance each other’s growth in product lines and support services,” said Tim Danker, SelectQuote CEO. “As we have...

Jacquelyn Smith had been cautious with money all her life, recalled her older brother, Marcel Trisvan. Yet upon marrying Keith Smith, the electrical engineer who always chose cars that “she knew she could get 20 years out of” became indulgent, Trisvan said. She traded up to a Mercedes-Benz. The couple purchased an Audi for Keith. And they snapped up a 50-foot yacht. “I’ve seen it. It was incredible,” Trisvan recalled. Keith Tyrone Smith, 52, now stands accused — alongside Valeria Smith, 28, his grown daughter from a previous relationship — of murdering Jacquelyn on Dec. 1 and concocting a story about a panhandler and a knife-wielding man in Baltimore. Police say the two made a run for the Mexican border, and they were apprehended Sunday in Texas. Documents and those knowledgeable about the couple indicate that Keith benefited financially from Jacquelyn during her life — and had sought to be the executor of her estate, which he said was worthless. Trisvan called his sister, who worked at Aberdeen Proving Ground, “100 percent the breadwinner” in the relationship. He believed Keith, a truck driver, had pushed the lavish lifestyle. The two had married in 2014 in Havre de Grace. He said...

Company raises $4.5 million to expand business and help middle-market customers secure their future

“In the insurance industry, fraudulent claims cost insurance companies millions of dollars per year. Within SGI, the dedicated men and women who investigate cases of suspected insurance fraud are members of an elite squad known as the Special Investigation Unit. These are their stories….” Regina, SK (Mar. 6, 2019) — The science doesn’t lie. A… Read more » The post Busted! SGI releases top five auto insurance fraud schemes appeared first on Insurance-Canada.ca.

Montreal, QC (Mar. 5, 2019) – ClaimsPro/IndemniPro is pleased to announce that it has acquired Alberta-based New West Adjusters (NWA). New West Adjusters is an independent adjusting firm that has been providing claims services to the insurance industry throughout Alberta since 2004. With a very localized presence, partnering with NWA enables ClaimsPro to add more… Read more » The post ClaimsPro Strengthens its Alberta Presence with the Acquisition of New West Adjusters appeared first on Insurance-Canada.ca.

Blockchain technology is evolving rapidly, and insurers need to find partners now: Aite Group report London, UK (Mar. 6, 2019) – Blockchain continues to gain momentum in the insurance industry as a potential solution for just about any problem. The trouble lies in identifying which problems blockchain is best suited for and how to begin… Read more » The post Blockchain in Insurance, 2019: A Market Overview appeared first on Insurance-Canada.ca.

COLUMBIA, S.C. (March 6, 2019) — Colonial Life clients can now ease their employees’ worries over student loan debt, thanks to a new partnership with FutureFuel.io. Colonial Life’s new program can aid employers in their efforts to support a debt-free future for the growing U.S. workforce saddled with student loan debt. This program is designed to reduce the life of each user’s student loan debt through education, refinancing options and making it easier for employees and their employers to contribute. Student debt now tops an estimated $1.5 trillion, and more than 25 percent of full-time workers between 23 and 53 named finances as the top cause of daily stress in a recent Colonial Life survey. “We know that student loan debt can be a major cause of stress for millions of America’s workers, so offering our customers a chance to relieve some of that burden is an easy decision for us,” said Tim Arnold, president and CEO of Colonial Life. “Working with a strong partner like FutureFuel.io allows us to engage employees and their employers in a new and exciting way that helps take control of student debt.” FutureFuel.io has different options that a client can select for what best...

Policy experts argue that the country actually falls between two pricing-policy extremes