WASHINGTON BUREAU — The American Council of Life Insurers (ACLI) is calling for Congress make sure the new Federal Insurance Office (FIO) has enough funding to help U.S. insurers compete in the international insurance marketplace.
House budget cutters have been fighting for smaller government.
The ACLI, Washington, believes the FIO “needs to be fully staffed and funded” to do its job, ACLI General Counsel Gary Hughes said today at an insurance oversight hearing organized by the Insurance, Housing and Community Subcommittee of the House Financial Services Committee.
Despite the existence of a strong state-based insurance regulatory system in the United States, “there is a pressing and immediate need for the FIO to engage in the representation of U.S. nationa Full Article…
Nasdaq has advised Life Partners Holdings Inc. that the company must provide a plan for regaining compliance with Nasdaq filing rules by Aug. 1 or face the possible loss of its listing.
The effect of life insurance after the death of a breadwinner can be interesting to observe. I guess it would be best to first look at the situation without life insurance. A hypothetical example may also help.Jim is age 42, married and has 2 children ages 14 and 16. Jim started a little late as he wanted to prepare for his upcoming family. His wife Alicia is age 38. Jim developed terminal cancer and was quite aware that he didn’t have much longer to live. Alicia Never worked because she felt she wanted to focus on raising the children.
Jim and Alicia were doing quite well. Jim’s income was more than sufficient to live on.
Full Article…
The availability of instant term life insurance quotes on the Internet makes buying life insurance a “walk in the park”. Some companies do take the application online while others send you an agent after you get your quote. This, of course, is assuming you decide you want to see an agent.There are many advantages to doing business this way and some disadvantages as well. Beginning the process online tends to allow you to put pressure on yourself to do what you wanted to do in the first place. This is a good thing. One disadvantage is that people tend to decide on an amount of life insurance without doing sufficient detailed research.
Full Article…
Take a look at 20 pay life insurance. Most people know that you buy A href=”http://www.lifeinsurancehub.net/whole-life-insurance.html”>whole life insurance if you want to be covered for the rest of your life even if it is to age 100. The rest of your life or to age 100, they may seem to some people to be a very long time.
Did you know that you could get the same coverage but only pay for a limited period of time, say 20 years? These policies are offered with a payment period of 5 years, 10 years, 15 years and 20 years. Some carriers offer payment up until age 65.
With the 20 pay life insurance policy you pay a premium for 20 years.
Full Article…
It has become common practice to get free life insurance quotes on the Internet and to buy your life insurance right there and then in some cases. This has been going on for a while now but everyone seems to be getting involved now. As people tend to get free life insurance quotes the life insurance companies have been forced to jump on the band wagon…even the big ones. The customer really calls the shots. Some have argued that the life insurance agent will eventually become extinct. This may be so but not in the near future. If you know how much life insurance you need you can go to your computer, get your free life insurance quotes and, in some cases, apply for your insurance online.
Full Article…
Assurant Employee Benefits is creating voluntary benefits packages designed for cash-strapped school districts that may be cutting back on employer-paid group benefits.
WASHINGTON BUREAU — S. 1404, a new Senate bill, could change the flexible spending account “use it or lose it” rule.
The bill would let consumers pay taxes on any funds remaining in FSAs at the end of the year, then withdraw the funds.
Current rules require that any leftover balance in an FSA must be forfeited to the employer at the end of the plan year.
S. 1404, the Medical Flexible Spending Account Improvement Act bill, was introduced by Sens. Ben Cardin, D-Md., and Mike Enzi, R-Wyo.
The bill is the Senate counterpart to H.R. 1004, which was introduced with bipartisan support in March by Reps. Cha Full Article…