– Do you suspect a deceased loved one has a life insurance policy that you cannot locate? We can help.
The Ohio Department of Insurance’s missing life policy search service is a comprehensive search service that assists Ohio residents, and the families of deceased Ohio residents, in locating lost insurance policies purchased in the state. The search identifies the existence of any life insurance policies or annuity contracts purchased in Ohio and issued on the life of, or owned by, a deceased person.
Since its implementation in September of 2009, the missing life policy search service has had 682 valid search requests, and have matched 442 polices with their rightful owners.
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A few years ago you purchased your term life insurance policy. You pay a very inexpensive premium. You have enjoyed the security that this policy afforded you over the years. You have recently discovered that a hereditary disease will likely rear its ugly head. Even though your youngest is close to graduation you will still need your life insurance policy as you want to protect your mate in case you should die suddenly. You could try to buy some more term life insurance that would give you a few more years of protection. The problem is that you may not be able to get it because of your recently discovered health problem.
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AEGON N.V. says it plans to sell Transamerica Reinsurance to SCOR S.E. for a total of about $1.4 billion.
Transamerica Re, Charlotte, N.C., generated $102 million in net income in 2010 on $2.2 billion in gross written premiums, and SCOR, Paris, says acquiring it should make it the second biggest life reinsurer in the United States.
The price for Transamerica Re, Charlotte, N.C., would include $912 million in cash and the release of $497 million in capital, according to SCOR.
AEGON, the Hague, Netherlands, hopes to use $1.1 billion in proceeds from the deal to buy core capital securities back from the Dutch State.
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WASHINGTON BUREAU — The Federal Reserve Board is getting ready to look at whether insolvent financial firms should be resolved through the bankruptcy system, rather than through the current regulatory process.
The Fed is asking for comments about the study, which is required by a provision in the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The Fed is asking for comments while gearing up to conduct two studies relating to the question that are required by provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Members of Congress inserted the provisions because of concerns expressed by some economists, accountants and lawmakers about the possibility that the current laws and rules governing the resolution of troubled financial companies place the burden of paying for a major failure on the taxpayer, rather than on lenders, owners and managers.
The Fed is supposed to work with the administrative office of the U.S.
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— Ohio Lieutenant Governor and Department of Insurance Director Mary Taylor named Joe Garber the Department’s Chief Legal Counsel. Garber, who joined the agency on April 11, advises the Department in legal matters and recommends course of action in legal and administrative proceedings involving the agency. He directs the Office of Legal Services, and serves as a liaison with other state agencies and the Ohio Attorney General’s Office.
“It is a pleasure to have someone with Joe’s background working at the Department of Insurance,” Taylor said. “Joe’s experi
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No exam insurance can be pretty easy to get in today’s world. It used to be that most life insurance policies, especially after age 40, were obtained after a rigorous medical examination. If the policy was large enough you would need more than one examination which may include blood or urine tests. People are taking better care of themselves and as a result life insurance companies issue policies after you answer a few questions truthfully about your family history and your medical history. They issue a no exam insurance policy, sometimes right there online.
These no exam life insurance policies are really designed for the person who is very aware of their need for life insurance but really doesn’t have the time to get a medical examination done.
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– Ohio Lieutenant Governor and Department of Insurance Director Mary Taylor provided an overview of the role and objectives of the CEO Insurance Education Task Force during her opening remarks at their meeting on Thursday, March 31st.
The CEO Insurance Education Task Force meeting was hosted by Motorists Insurance Group CEO John Bishop and Westfield Group CEO James R. “Jim” Clay. Under the leadership of Taylor, the two CEOs have been heading efforts to examine current and future workforce conditions and explore opportunities to produce well-trained employees required to maintain a robust insurance industry in Ohio.
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Life Insurance Settlement. Over the years I have paid many a claim upon the death of my clients. Everything always goes smoothly for me in these cases. The carrier usually wants proof of death and they also want to be assured that the beneficiary is who s/he claims to be. When a beneficiary calls to let me know of the death of an insured I always try to make it to the funeral. I also set up an appointment to help them get paid as quickly as possible. I advise them of the requirements of the life insurance company at that point.To make certain that I don’t miss anything I confirm everything with the claims department of the company before I go on the appointment.
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