Headlining this edition of “What’s Trending in Life Insurance” is the acquisition of life insurance giant Allstate. Read more about this and other stories below:
Blackstone to buy an Allstate life insurance business for $2.8B
Making a splash in the insurance world recently has been the purchase of Allstate’s life insurance branch by investment firm Blackstone Group. They paid just over $2.8B for the acquisition.
They hope to broaden their hold on the insurance and annuities market after their work with FGL Holdings, which was bought by Fidelity National Financial last year. Allstate, on the other hand, has been seeking to get out of the life insurance sector and focus efforts more on the property and casualty side of the business.
Millennials Ponder Life Insurance During Lockdown
Life insurance has historically been purchased by individuals as they are aging or accruing more income and property. Rarely have we seen the nation’s youth make such considerations amid their fast and often transitional lives.
According to BusinessInsurance.com, the pandemic has changed that. Since lockdowns have become commonplace and safety has gone to the forefront of many American’s minds, so has life insurance’s connection to Millennials – They just aren’t sure what to do about it. In fact, they reported on the results of a Millennial Life Insurance Survey, which found that while eight in 10 millennials believe “people like me” need life insurance, less than half know how much life insurance coverage they need.
Which Types of Deaths Are Not Covered by Life Insurance?
Our final article come from Investopedia. It covers common forms of life insurance payouts, based on the cause of death of the policyholder.
While it’s a given that natural causes are covered, there are other types of rules that come into play during instances of foul play, incorrect details given to providers, and other scenarios. This article goes over each one and gives examples of when a policy may not cover the owner.
The insurance world can be difficult to navigate. Without a clear understanding of their current plan, it’s difficult to be certain that your clients have the right coverage. If you’d like to take a closer look, you’ve come to the right place. We can answer your life insurance questions and provide the clarity you need to sleep easy. To learn more about our services, visit our site or join our newsletter today. To contact us, click here.