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A New Boom For Life Insurance
Shifting away from the 250 year old policy transaction
by Denise Garth
When executives are looking at future business scenarios, they are often called upon to “connect the dots.” If we draw a line from A to B to C to D, what kind of future scenario emerges? In which direction are the dots pointing? Sometimes the lines are fuzzy. The dots don’t quite line up. The…
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How A Pandemic Can Uncover the Importance of Retirement Financial Planning
A lack of familiarity with planning tools contributes to financial worries among young Americans
Despite retirement worries amid the COVID-19 pandemic, familiarity with common retirement planning tools remains low. According to the latest research from the Center for a Secure Retirement® and Bankers Life, a national life and health insurance brand that focuses on the insurance needs of Americans who are near or in retirement, only about half of…
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States with the Most Improved Health During COVID-19
Many have jumped ahead of the Covid-19 curve, while others still lag behind
With states’ reopening progress being delayed due to spikes in COVID-19, WalletHub today released updated rankings for the States with the Biggest Health Improvements During COVID-19, along with accompanying videos and audio files.
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Market Growth Opportunity for Life Insurers
To be a market leader in the future, insurers need to transition their thinking from executing policy transactions to providing a life, health, wealth and wellness experience
Majesco (NASDAQ: MJCO), a global leader of cloud insurance software, today announced the release of their 4th annual primary consumer research, Rethinking Life Insurance: From a Transaction to a Life, Health, Wealth and Wellness Customer Experience, highlighting a shift from a focus on policy transactions to creating a broader life, health, wealth and wellness experience.
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Social Security Turns 85
The continuing evolution of retirement income
On Aug. 14, 1935, President Franklin D. Roosevelt signed the Social Security Act into law. Among the provisions of the law was a social insurance program designed to pay retired workers age 65 or older a continuing income after retirement.
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State of Savings
The pandemic caused notable shifts, but now with re-openings data suggests positive signs of savings recovery
Our proprietary data reveals how individuals in the U.S. have changed their savings behaviors over the course of the COVID-19 pandemic as business and travel restrictions disrupted our economy. Not surprisingly, we saw notable shifts in savings plan contributions and withdrawals in the first few months of the outbreak, as individuals experienced changes in employment…
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The Impact of the CARES Act on 401(k) Plans
Expands how workers can tap into DC Plan savings - up to $100,000
Some of the Act’s provisions have the potential to deeply impact defined contribution (DC) retirement programs by expanding how workers can tap in to their retirement savings when affected by the virus and/or crisis. For eligible workers, CARES doubles the amount that can be taken as a loan, from $50,000 to $100,000. It also creates…
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Guide to Approaching Life Insurance With Pre-Existing Conditions
And how these conditions can affect your chances of qualifying
Life insurance is an important part of sound financial planning. We all want the best for our family, and if you were to pass away, and were therefore unable to continue to support them, a life insurance policy would provide some much-needed financial security for those dependent on you.
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In COVID-19 Crisis, Older Americans Are More Resilient Than Younger Generations
Research shines on a new definition of retirement
Research shines on a new definition of retirement Research of the pandemic’s effect on the mental health of 5 generations in Canada and the U.S. conducted by Edward Jones and Age Wave ST. LOUIS, Aug. 4, 2020 /PRNewswire/ — Despite COVID-19’s severe and disproportionate impact on the health of aging adults, older Americans reported they…
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Customer Acquisition: A Paradigm Shift For Life and Health Insurers
The current public health emergency has proven that for all businesses, agility is essential, and fast change should be anticipated and expected
A Google Trends analysis shows a steady rise in searches for life insurance over the last five years. This trend peaked between January and early March 2020, coinciding with the beginning of the COVID-19 outbreak. Since March, search activity has returned to pre-pandemic levels. However, the data illustrates that today’s policyholders are increasingly capable of…
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Savings Goals and Stress Levels on the Rise
Many now believe they need to save $1.9 million for retirement
Anxiety about long-term retirement savings is up according to a new survey from Schwab Retirement Plan Services, and so is participant engagement. The nationwide survey of 1,000 currently employed 401(k) plan participants finds that saving enough for a comfortable retirement continues to be their leading source of significant financial stress.
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One-In-Four Companies Have Changed Employee Health Benefits Since COVID-19
Will working americans take notice?
Fidelity Investments® today issued new employer research finding that one-in-four (27%) organizations have changed employee health benefits since the COVID-19 pandemic began in March. Given these changes and the amplified importance of maintaining physical, mental and financial health, this year’s annual enrollment marks a critical moment when employees need to spend time understanding and evaluating…
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For U.S. Insurers, Decade of Low Interest Rates Marked by Different Impact Severity, Strategies
De-Risking as a strategy against earnings-volatility
An AM Best analysis of U.S. life/annuity companies’ investment strategies amid the past decade of low interest rates found that the number of companies considered non-interest-sensitive more than doubled those deemed interest-sensitive. However, those companies exposed significantly to interest rates have managed an average 76% of the industry’s invested assets in the last 10 years,…
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