Life Insurance

Life insurance refers to a specified amount of capital—the death benefit—that is paid to beneficiaries upon the death of the policyholder. There are many different forms of life insurance including term life, whole life and universal life. Term life is arguably the most basic form of life insurance and is intended to provide financial protection through income replacement in the event of the premature death of the policyholder. There are also many different uses of life insurance such as income replacement, estate planning and tax planning.

MetLife Puts a Stop to New Long Term Care Sales

MetLife is reportedly discontinuing the sale of long term care insurance beginning January 1, 2011. The largest U.S. life insurance company cites "financial challenges" facing the industry in the current environment. According to a recent Bloomberg article:

Variable Annuity Sales at Jackson National Rise 57 Percent

Variable annuity sales are, to say the least, strong at Jackson National Life Insurance Company .
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Allianz Reports Strong Revenue Growth Coupled with Earnings Challenges Due to Low Interest Rates

Allianz Life Insurance Company of North America reported strong revenue growth for the third quarter of 2010. Fixed indexed annuity sales increased 36 percent and totaled $1.9 billion. Variable annuity sales quadrupled to $800 million. Allianz attributes the revenue growth to more risk averse consumers in the wake of the financial crisis.

What to Make of MetLife's Exit from the Long Term Care Market

MetLife’s recent decision to exit the U.S. long-term care market can be seen as a relatively minor decision by the largest U.S. life insurance company to pull-out of a small, slow-growth market and forgo what is a very small part of their overall business.


Saybrus Partners Lands Wells Fargo Advisors as Client

Life insurance consultancy Saybrus Partners recently landed Wells Fargo Advisors as a new client. Saybrus is a relatively new venture that was formed with backing from the Phoenix Companies.