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With springtime comes spring cleaning. We may take the time to deep clean the house and clear out the garage, however most of us don't take the time to perform the same spring cleaning for our financial affairs.
When was the last time you reviewed your insurance policies and "cleaned them" - in other words took a look at them and made sure that they were in order and still providing the coverage that you need. Do you need more of a certain coverage and less of another? Have you had major life events such as a new child, gotten a new job or house? Do you have...Read More
Life insurance is an integral part of an overall financial plan WHEN you have a need for life insurance. The key here is the word "when". Some people just don't have a need for a life insurance. If you have a need for life insurance, you should have it.
Here are the two most common issues that I've seen in consumers life insurance portfolios:
1) They don't have the right amount of life insurance.
There are many different methods to calculate life insurance, however, the bottom line is your...Read More
Multiple life insurance companies have reached multi-state settlements regarding an industry-wide practice of companies failing to pay death benefits to the beneficiaries of life insurance policies, despite having access to federal records indicating that policyholders had died, or direct confirmation from relatives of the deceased.
Instead, some companies would continue collecting premium payments from the deceased by drawing down the policies' cash reserves. Once the cash reserves were depleted, the company would cancel the policy. This was led by Controller John Chiang...Read More
UP Executive Director Amy Bach will be moderating a panel of experts on water damage claims during the First Party Claims Conference in Rhode Island in October. This unique conference brings together experts from both the policyholder and insurer side and is a great place to get continuing education and network with colleagues. "Water Losses Damage and Coverage Issues" will feature speakers Alan J. Pierce, Esq., Daniel C. MacRitchie, P.E., Ronald J. Papa, SPPA and Jodie Papa. Click here for more information and to...Read More