Insurable Interest Canadian Insurance Blog

Buying a house is a big deal.  Whether you’ve done it several times or are embarking on your first foray into homeownership, finding the perfect neighborhood and getting ready to make the biggest purchase of your life is time-consuming. Fortunately, you can make shopping for a home less frustrating and more fun with a few simple tools on your smart phone.  When it comes to buying a house, it turns out there’s an app for that. Here are the ones you definitely want to download to your smartphone before you begin your journey.  1. QR and Barcode Scanner  Real estate agents are getting tech savvy, so many of them are including QR codes on listings and other handouts so you can get instant facts and figures about a property you love. There are lots of QR and Barcode scanners out there that work with your phone’s camera; Gamma Play has one that works for both Androids and iPhones.  2. Zolo  Want notifications about new listings? Need a way to search for information about that “For Sale” sign you just drove by? Zolo is available for Android and for iPhone, and it’s a great way to browse for Canadian properties while filtering for your favorite features — perfect...

A preliminary hearing for Kendra L. Dias, charged with orchestrating the slaying of her stepfather Donald Bachman nearly four years ago, was delayed Thursday for more than a month. Dias, 24, of 114 Hemlock St., Sugar Notch, is the sole person charged as investigators allege she planned the deadly shooting in front of Bachman’s house at 62 Willow St. on May 1, 2015. Bachman, 49, died from multiple gunshot wounds. The actual gunman remains unknown but Luzerne County Assistant District Attorney Jarrett Ferentino hinted others close to Dias know the killer. Ferentino called the killing an “execution-style hit.” During Thursday’s brief proceeding before District Judge Richard Cronauer, Ferentino said “there are other individuals close to Ms. Dias that are involved.” Afterward, Ferentino told reporters, “Obviously, this is a situation that involved the stepdaughter basically occasioning the murder of her stepfather. This is a family situation so individuals that are impacted or involved are certainly within her immediate family.” Ferentino declined to say if Dias is cooperating with investigators. She was charged Feb. 20 with criminal solicitation to commit homicide and criminal conspiracy to commit homicide. Outside the courtroom, Bachman’s widow and Dias’ mother, Lori Bachman, was overheard making statements to...

Wells Fargo’s program to compensate customers affected by the bank’s violation of consumer protection laws has begun, the Texas Attorney General’s office said. Texas customers, as well as customers around the country, who were affected by the bank’s practice between 2009 and 2016 of opening millions of unauthorized bank accounts in the names of unknowing customers, are able to call helplines to have their claims reviewed. The program is part of a $575 million settlement with every state in the U.S. Texas will receive $47 million of the settlement to resolve civil claims that the bank committed unfair and deceptive trade practices, the Office of the Texas Attorney General said. Customers should call the following phone numbers or go online to have their complaint reviewed for relief, which could include compensation. Unauthorized accounts: Customers who may have had an account or service opened without their consent should contact Unauthorized Accounts and Improper Retail Sales Practices at 1-844-931-2273. More information is available on the bank’s website. Renters and Life Insurance: Customers who may have had a renters or simplified term life insurance policy opened by Wells Fargo without their consent or solely for purposes of helping the employee obtain incentive pay...

From Staff and Wire Reports OneAmerica has launched two new term life insurance products designed to offer more flexibility for protection. Both OneAmerica Term and OneAmerica Premier Term offer guaranteed level premiums and death benefits over the term period, with four term options to choose from. In addition, OneAmerica Premier Term offers conversion options for permanent protection with whole life or whole life with long-term care (LTC) protection. “With these new products, we’re expanding options for people to match their life insurance coverage to their needs and their overall financial strategy,” said Chris Coudret, vice president of strategy and business development, Individual Life and Financial Services, OneAmerica. “Some people know they won’t have a need for insurance beyond the term period, while others know they’ll at least want to consider a whole life option down the road. With OneAmerica Term and Premier Term, policyholders can be sure they’re paying for the appropriate coverage for their needs.” Term insurance is an affordable way for families and business owners to cover financial commitments for a specified period of time. According to LIMRA[1], four in 10 households don’t own life insurance coverage. OneAmerica Term and OneAmerica Premier Term are available for 10-, 15-,...

-Connecticut Attorney General William Tong published Wells Fargo “redress” plan to reimburse customers who have yet to receive money after a multistate investigation into employees opening bogus accounts to increase their commissions and other infractions. Connecticut received $5.2 million as its share of a $575 million national settlement, with those funds having been deposited in the state’s General Fund. In addition to the unauthorized accounts, Wells Fargo was investigated for improperly referring customers for enrollment in life insurance policies; charging auto loan borrowers for unnecessary collateral protection insurance; failing to ensure that customers received refunds of unearned premiums on optional auto finance “guaranteed asset/auto protection” products, and incorrectly charging customers for mortgage rate lock extension fees. Wells Fargo is maintaining a website with information on eligibility for reimbursement and hotlines for customers with additional questions. Alex.Soule@scni.com; 203-842-2545; @casoulman ___ (c)2019 The Hour (Norwalk, Conn.) Visit The Hour (Norwalk, Conn.) at www.thehour.com Distributed by Tribune Content Agency, LLC. The post Wells Fargo Taking Calls On Reimbursement Eligibility appeared first on InsuranceNewsNet.

Envestnet Insurance Exchange, a new insurance network that integrates insurance solutions into the wealth management process on the Envestnet platform, now offers access to a robust line-up of six carriers. Envestnet Insurance Exchange will include Allianz Life, Brighthouse Financial, Global Atlantic Financial Group, Jackson National Life Insurance Company, Nationwide and Prudential Financial, and offer a variety of variable, structured, fixed and indexed annuities to advisors. Envestnet is actively working to onboard advisors to the pilot program and plans a broad-market release of the Insurance Exchange in June 2019. “After months of preparation, we’re proud to introduce financial solutions from a well-respected group of insurance carriers on the Envestnet Insurance Exchange,” said Bill Crager, Chief Executive of Envestnet Wealth Solutions. “We believe advisors who offer integrated advice to their clients can help them achieve better outcomes. By bringing more choices to the enterprises we work with and their advisors, we believe we are one step closer to helping them deliver complete financial wellness to their clients.” Envestnet Insurance Exchange is backed by Fiduciary Exchange, LLC (FIDx), a technology-empowered network that seamlessly integrates the brokerage, insurance and advisory ecosystems. The partnership was initially announced at the Envestnet Advisor Summit in May 2018. Since...

Today, Pacific Life Insurance Company (Pacific Life) announced two new indexed universal life insurance (IUL) products: Pacific Discovery Xelerator IUL 2 (PDX IUL 2) and Pacific Indexed Accumulator 6 (PIA 6).1 Both life insurance products continue in the tradition of providing flexible death benefit protection for individuals and businesses. PDX IUL 2 emphasizes long-term cash value potential and may be helpful for high-income clients seeking death benefit protection and supplemental retirement income potential through tax-free2 policy loans and withdrawals. PIA 6, on the other hand, focuses on higher cash surrender values in the policy’s early years and may be beneficial in certain scenarios like premium financing and corporate-sponsored life insurance plans. “These products represent our ongoing commitment to innovation in IUL,” said John O’Donnell, vice president of marketing and product development for the Life Insurance Division of Pacific Life. “Two years ago, we launched Pacific Discovery Xelerator IUL,3 the #1 selling IUL for the last two years in a row.4 Now, we’re giving clients even more choices for a greater range of policy potential.” Among the policies’ new features is an Enhanced Performance Factor Rider, which offers clients a choice among three levels of Performance Factors and their associated charges...

Health benefit manager backs renewal agreement to address cost and complexities of industries

Experts suggest that the platform used by several Canadian insurers has helped cut medication and disability costs

Despite lagging other countries in launches, Canada sees medical sales being dominated by new medicines