A Lot of Insurance Quotes

Sino life insurance Co. is expecting to grow into an insurance group that will operates property insurance, pension insurance and insurance sales units in addition to life insurance before launching an overall listing.

Sino Life Insurance, incorporated in March 2003, had CNY 56.6 billion total assets and CNY 50.679 billion liabilities as at November 30, 2011. It obtained CNY 22.21 billion premiums in the first 11 months of 2011, representing a year-on-year increase of 59.6%. Meanwhile, net profit totaled CNY 302 million.

The Shenzhen-headquartered life insurer takes it the top priority to build an insurance group, modeling on Ping An Insurance (Group) Company of China Limited, said a source.

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I just spoke to a 68 year old gentleman who was looking for a 30 year term life insurance policy.  At his age, there arent any companies that would issue a term policy for 30 years, so we looked at a 20 year term policy with a $1,000,000 death benefit.  If approved at Preferred Plus, the most favorable health class, his annual premium would be approximately $16,000 a year.  The policy would take him to age 88, at which time it would be very difficult to secure a new policy.

I know, there really isnt a product know by this name.  However, if it walks like a duck, etc., etc., it is a duck.  A Universal Life Insurance policy with lapse-protection is a policy that lasts a lifetime (until age 121, in most cases).  These policies wont typically accumulate cash-value, like a whole life policy or universal life policy (without the lapse protection).  Even when the cash value dips to zero, something that would be cause for alarm in a standard universal life policy, the death benefit and premiums are still guaranteed (provided the premiums are paid in a timely fashion).  Lets recap guaranteed level premiums, guaranteed death benefit, no cash value sounds like a term life insurance policy to me.

We quoted one of these policies for this gentleman and, if approved at the best health class, his premium would be $21,000 annually for a $1,000,000 death benefit.  Would this make sense for this gentleman?  If he could predict that he would die before age 88, the term policy would be the best choice, but being that he cant, it would make sense to me for him to go with the policy that will pay the death benefit, regardless of how long he lives.

It seems that Im not the only person with this idea.  Several life insurance companies have ditched their term policies and replaced them with, you guessed it, guaranteed universal life policies with fixed-year guarantees 10, 20 and 30 years.  So now these universal life insurance policies are looking exactly like the term policies they replaced.  And, theres no downside to the consumer.  These policies perform life a term policy and are even priced to be competitive with term policies from other companies.

For term life insurance quotes or universal life insurance quotes, click the Start your Instant Quote button at the top of this page.

California enacted a death-benefit law this week that will place new requirements on life insurance companies. In response to complaints that insurers routinely failed to contact or pay death settlements after policyholders died, the government has moved to increase protections for beneficiaries.

Over the past year, California state officials have looked into the activity of life insurance companies after discovering that many were failing to alert beneficiaries of settlement payouts owed—and in some cases, even choosing not to attempt to find them.

Instead, the companies were storing death benefits in so-called retained asset accounts (RAAs) that accrued interest over time.

Companies in California were required to either pay beneficiaries within a three-year period or turn the funds over to the states comptrollers office. H

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Continuing this list of reasons to own permanent life insurance:

• To replace the value of a home in a reverse mortgage:  Many consumers may want to tap into the equity of their homes by using reverse mortgages without eroding their familys inheritance.  Funds from the proceeds of a life insurance policy can replace the equity taken out of the home via the reverse mortgage.

• To own an asset that is not a factor in determining eligibility for financial aid:  As a general rule cash value from life insurance policies are not considered an asset when determining eligibility for financial aid for college.

• To replace a charitable gift:  If you wish to leave certain assets to charity upon your death, proceeds from a life insurance policy can replace the donated assets that would have been inherited, such as taxable retirement accounts.

• To provide life insurance to unhealthy individuals owning term life insurance that is set to expire:  Uninsurable or unhealthy term policyholders can convert their term life policy to a permanent policy (in most cases) within the same health class they qualified for when acquiring their term policy.

• To replace a trust that terminates at the death of a beneficiary:  Certain trusts terminate at the death of the beneficiary.  Using trust assets to purchase life insurance during the beneficiarys lifetime means a person can continue ones legacy to his/her heirs.

While permanent life insurance is the policy of choice for many reasons, the majority of people will benefit from a term life insurance policy.  To get an idea of the cost difference between term and permanent insurance, you can get term life insurance quotes or universal life insurance quotes at LifeInsure.com.

SSQ Financial Group has acquired AXA Life Insurance from Intact Insurance for $300 million.  With the support of its majority shareholder, Fonds de solidarité FTQ (FSTQ), the newly-formed SSQ Insurance Company Inc. will become an entity of SSQ Financial Group.

AXA Life Insurance, a subsidiary of AXA Canada, was acquired by Intact Financial Corporation as part of the $2.6 billion acquisition of AXA Canada.  AXA Life Insurance, which has approximately 250 employees, offers health and life insurance products through a vast network of agents. In 2010, AXA Life Insurance premiums amounted to $169 million.

[The] announcement reflects our strategic priorities which are to accelerate our growth and diversify our activities through acquisitions. We are p

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