Getting life insurance

Would this interpretive dance inspire you to get health insurance? See it in 360 video By November 08, 2018 02:30 PM Covered California commissioned this dance to depict how unexpected life events can leave people thankful for medical coverage. It kicked off this year’s open enrollment with a performance on Thursday, Nov. 8, 2018. Watch in this 360 video. … [Read more...] about Would this interpretive dance inspire you to get health insurance? See it in 360 video

Wall Street investment banks are planning to buy and securitize life insurance policies of older Americans.A $1 million policy might be sold for $400,000, then bundled with other policies and sold to investors, the New York Times reports.Duke law professor James Cox calls the development “bittersweet.”“The sweet part is there are investors interested in exotic products created by underwriters who make large fees and rating agencies who then get paid to confer ratings,” he told the Times. “The bitter part is it’s a return to the good old days.”The story says the plan could be good for Wall Street but bad for insurers, which set rates based on the assumption that policyholders will let their life insurance lapse before they die. If the policies are bought and securitized, insurers may lose money and pass on the loss in the form of increased premiums.One of the critics is Franklin Best Jr. managing corporate counsel and secretary of the Penn … [Read more...] about New Wall Street Idea: Buy and Securitize Life Insurance Policies of Elderly

Sometimes entrepreneurs get so caught up in the day-to-day operations of their business that they forget to look ahead to the "ifs" that the future may hold. One important "if" that everyone business owner should consider is, "What would happen to the business if one of the owners or a key employee should suddenly die?" Failure to properly plan for the death of an owner or key employee can lead to unintended consequences for the business. For example, the Company could be faced with liquidity issues if it is forced to buy out the interest of a deceased shareholder with a lump-sum payment. Another unintended consequence is the possibility that the deceased owner's spouse could become your business partner if there are no restrictions on the transfer of ownership interests in place.Obtaining a key-man life insurance policy along with implementing a buy-sell agreement (discussed below) will go a long way in avoiding these potential pitfalls. Key-man life insurance is a company-owned life … [Read more...] about Key Man Life Insurance & Purchasing a Member’s Interest

The young daughter of Heath Ledger reportedly will be the Australian actor’s sole heir.But, at least for now, she isn’t getting any of his $10 million life insurance, according to Entertainment Tonight. A lawsuit (PDF) filed in Los Angeles Superior Court says the life insurer has refused in bad faith to pay the claim, arguing that the actor’s death early this year may have been a suicide.The New York City medical examiner determined that Ledger—perhaps best-known for his role as the Joker in The Dark Knight, this summer’s Batman installment—had died of an accidental drug overdose, notes the Dish Rag, a Los Angeles Times blog. He was 28 years old when he died in January.Filed in July, the lawsuit, which was first reported on by the TMZ celebrity gossip website, was removed to federal court in August, reports the Associated Press.Matilda Rose, who is 2 years old, reportedly is not named in Ledger’s will. However, his family members have agreed to … [Read more...] about Daughter, 2, Gets Heath Ledger’s $20M Estate, But Not His $10M Life Insurance

Life insurance policies require beneficiaries to make a claim to collect the money that is due to them, and for more than a century that is the only way benefits generally got paid.But that practice is changing, due in part to the ease of using computerized technology to cross-check the names of policyholders against death databases. Now, at least three insurers have agreed to change their procedures and try to track down beneficiaries, and more are considering doing so, in response to pressure from a multistate task force led by Florida’s insurance commissioner and a separate effort in New York, the Wall Street Journal (sub. req.) reported in a front-page story Monday.Over the years, this adds up to well over $1 billion in unpaid life insurance, some contend, and insurers aren’t necessarily disputing that figure. However, companies say the percentage of unpaid policies is small.Nonetheless, says Bruce Ferguson of the American Council of Life Insurers, “We know the … [Read more...] about Some Life Insurers Agree to Seek Out Beneficiaries of Unpaid Policies, and More May Soon Do So