Do Single People Need Life Insurance?

(Kimberly Palmer)- If you’re married with children, then you probably know you should have life insurance to protect your dependents in the event of your death. But do single people without those same dependents also need to insure themselves? According to USAA Life Insurance, the number of single people buying life insurance has increased 10 percent compared to a year earlier. The biggest growth was among twenty-somethings, which experienced a 24 percent increase in life insurance purchases.

The increase appears to be driven in part by the economy. During economic downturns, people across the board tend to buy less insurance, simply because they can’t afford it. In fact, life insurance ownership in general is at a fifty-year low right now, a dip that industry experts attribute to the economy. So part of the increase in life insurance purchases, which is happening across multiple demographic groups, can be attributed to the economic recovery following the most recent recession. Read more here…

Meet a one-stop shopping risk management store

(NorthJersey.com)- Looking for a home insurance policy but don’t know where to begin? Trying to find the best rates on car insurance, but don’t know what company to trust? Worried that something might happen to you, and you want a life insurance policy that will take care of your family, just in case? Let State Farm Insurance Agent Derek Vannelli handle it from his office, located at 1516 Route 23 North in Butler.

"We do all personal insurances; auto, home, and life are the three main ones," he said. Vannelli, who has been with State Farm for the past 18 years and working "in the field" for the past five-and-a-half years, said that it is the "personal touch" that brings people into his office and keeps them coming back. Read more here…

Life Insurance Missing Piece of Financial Portfolios: Survey

(AdvisorOne)- Slightly less than half of U.S. adults who have a financial advisor and a financial plan have ever discussed adding life insurance to their plans, according to a survey released Tuesday by Saybrus Partners, a life insurance partnership firm in Hartford, Conn.

Fifteen percent of respondents who said they had discussed life insurance with their advisors did so more than 10 years ago, while 40% have discussed it within the past year, Saybrus said in a statement.

However, even with discussions about life insurance becoming more common, as likely as not these do not include a review of existing policies concerning issues such as performance, affordability and potential policy lapse. Forty-seven percent of respondents with life insurance and a financial advisor have never reviewed their existing policy with them. Read more here…

Don't gamble with your golden years

(Journal & Topics Newspapers Online)- Will you have enough money for retirement? That question may keep you up at night. Or you may avoid thinking about it altogether.

"What scares me for this country, especially for the baby boomer generation, is that many people will have to rely on their investment smarts in managing retirement funds," says economist Steven Weisbart of the Insurance Information Institute. "Many have no training, or interest, in managing money."

One possible solution? Annuities - contracts sold by life insurance companies that offer a guaranteed stream of income for those golden years.

Fixed savings annuities, also known as deferred annuities, have guaranteed interest rates and tax-deferred benefits. And immediate income annuities offer guaranteed income for life. Most important, they both promise peace of mind. Both are popular during market downturns. At USAA Life Insurance Co., one of five life insurers that is AAA rated, total annuity sales grew 26 percent from 2008 to 2009. And the company says it anticipates annuity growth will increase as baby boomers get further into retirement. Read more here…

New York Life Term Life Insurance Quotes Today – Current Rates On Coverage For Senior With Prior Health Conditions

(US Life Daily)- For those with life insurance policies, such as current life insurance, they may be contemplating switching insurance or dropping coverage altogether. Life insurance is a very useful tool to help prepare and cover loved ones left behind in the event of ...(Read more here)

New York Life Term Insurance Coverage For Seniors With No Physical Exam

(US Life Daily)- Among the various types of life insurance available to Americans, term life insurance continues to be a popular choice. This type of coverage is often seen as flexible and cheaper than other forms of permanent life insurance such as universal and whole life. Read more here…

‘Group life insurance now unattractive because of rate cutting

(Business Day)- Anthony Aletor, group managing director, Capital Express Assurance Limited, a top flight operator who has invested to develop the nation’s life insurance market. This aspect of the business had been frustrated by issues such as cultural barriers; low disposable income and high level ignorance. In this interview with Modestus Anaesoronye, he shares his thought on developments in the industry, market challenges and benefits of annuity. Excerpts: (Read more here...)