WASHINGTON BUREAU — The U.S. Securities and Exchange Commission (SEC) is giving the variable annuity summary prospectus “very serious consideration,” but it is declining to commit itself to acting on the issue this year.
Susan Nash, an SEC associate director, discussed the prospectus issue here during a regulatory conference organized by the Insured Retirement Institute, Washington.
Nash said it will be difficult to determine whether the issue will appear on the SEC’s agenda this year.
A full summary prospectus typically ranges from 100 pages to 300 pages in length.
Also at the conference, the IRI unveiled a report on a summary prospectus survey it commissioned.
The survey team found that 94% of the consumers who participated said they would prefer to receive a shorter, printed summary prospectus instead of a full prospectus if details were available online or upon request. This Full Article…
Term mortgage insurance is simply a life insurance policy which you can use to pay off the balance owed to your bank or mortgage company in the event of your premature demise. In today’s world term mortgage insurance is something you must own. You have searched for a long time. You have just had it with viewing houses with your real estate agent. The telephone rings, it is your agent again. She is overly enthusiastic; she believes that she has found that perfect house you have carefully described to her. You are hesitant but you pull yourself slowly out of your favorite couch, take a shower, and get dressed.
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SAN ANTONIO — Mel Schlesinger, the incoming president of the National Association of Health Underwriters (NAHU), would like to be a president of NAHU who helps NAHU members adapt to whatever the new benefits word will look like.
Schlesinger, a self-employed Winston-Salem, N.C., sales coach, is taking over as head of NAHU, Arlington, Va., Wednesday. He himself began to prepare for changes in the health care system in 1991, by selling his group health business and focusing on the voluntary dental market.
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Life insurer AIG announced late Tuesday that it sold all of the holdings held in MetLife Inc., which helped it pay down its debt owed to the Treasury Department. The company also used a portion of money received from selling the American Life Insurance Company (Alico) to MetLife Inc. to pay $6.9 billion, which brought it closer to finishing its payments.
AIG Repays $6.9 Billion
After announcing last week that it would repay some money owed to the Treasury Department after selling its holdings in MetLife for $9.6 billion, it used $6.6 billion of the money from the sale to repay its debt, along with another $300 million that came from the $15.5 billion sale of the Alico to MetLife.
This payment helped reduce the more than $18 billion preferred equity stake that the Treasury holds in the company.
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If you are searching for the best term life insurance rates available you are in the right place. The companies that I do business with make it their responsibility to seek the best rates for you. Some of these businesses have been around for a long time and they know their stuff. Think about it, that is what keeps them in business isn’t it?
I don’t know if you are aware of this, but there about 2000 life insurance companies on the face of this earth all jockeying for position. Each and every company trying their best to create term policies with the lowest term life insurance rates.
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H.R. 1249, a bill that includes a provision banning tax strategy patents, has passed 304-117 in the House.
Members of the Senate voted 95-5 to pass S. 23, a bill containing a similar patent law provision, in March. To get a bill signed into law, lawmakers now must find a way to reconcile the differences between the two bills, or else to get the House to pass the Senate bill or the House to pass the Senate bill.
H.R. 1249, a bill introduced by Rep.
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Do you have any idea what elderly life insurance is? What most people don’t understand is that elderly people need life insurance as well and the reason is because they still need to insure the future of their family and the people they love. What elderly life insurance consists of is a life insurance policy to cover the costs of left over debts and funeral costs. What most people don’t understand about this is why an elderly person would even buy it when it will probably be about the same in price but in reality it isn’t. The r Full Article…
— Ohio Lieutenant Governor and Department of Insurance Director Mary Taylor announced the Department’s Ohio Senior Health Insurance Information Program (OSHIIP) is hosting a “Welcome to Medicare” event on Tuesday, June 14 starting at 6 p.m. at the Muskingum County Center for Seniors. The facility is located at 200 Sunrise Center, Zanesville, Ohio.
“This event is a great opportunity for new beneficiaries to talk face-to-face with our staff about Medicare benefits,” Taylor said. “We will be
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