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By: Stratus Financial Partners

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Frank Campbell

Latest from Stratus Financial Partners Blog

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When it comes to life insurance, the word “guarantee” may have different meanings. The first question that should be asked? “Is the guarantee conditional or unconditional?” Here’s why: Problem There’s hardly ever a problem when a policy has unconditional guarantees. “If you pay this premium, we will pay this death benefit to your age 120” is an example of an unconditional guarantee. In almost every problem case we review, everyone assumed the policy did indeed…
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This week’s edition of “What’s Trending in Life Insurance” covers a lawsuit against State Farm, COVID-19, and the current state of the industry. Read below to learn more: DFR reaches $230,000 settlement with State Farm The Vermont Department of Financial Regulation (DFR) recently settled a case with life insurance provider State Farm. The lawsuit, filed as a result of alleged underpayments from State Farm, accused the company of improperly managing their death benefit payout. An…
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This edition of “What’s Trending in Life Insurance” covers three stories regarding the COVID-19 pandemic, and how it’s affecting life insurance as we know it today. How the Pandemic Will Change Our Lives for the Foreseeable Future Our first article comes from the folks over at Live Insurance News. It discusses the psychological effects that COVID-19 has had on our society today, and how it’s changing the way people think about their life insurance policies.…
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“Forbes may earn a commission on sales made from partner links on this page.” It’s there, in fine print a few shades lighter than the paragraph text. I can’t single them out for that – several other national publications do the same.  We as professionals understand that these are often paid fluff pieces. The problem comes as advertising and journalism blend together, leading to confusion when people really just need objective facts.  News sources that…
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In this week’s “What’s Trending in Life Insurance” blog, we found three more articles you may find of interest. Life Insurance Ownership Drops 9% In A Decade, Study Finds Even though individual life insurance policy sales have increased, this article from Insurance News Net looks at the decline of individual ownership over the last ten years. The discrepancy seems to be a result of the drop in employer-paid coverage. This article also notes increasing interest…
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Each week, we like to do a piece on our industry, and the timeliest articles to hit the news. Continue reading below to see what our “What’s Trending in Life Insurance” column has in store: In the Midst of COVID-19, Life Insurance Companies are Turning Some People Down With interest rates continuing to fall and demand for life insurance at a sharp increase due to COVID-19, Yahoo! News reports that some providers are growing increasingly…
Fred’s attorney had no indication of whether Fred’s life insurance policy was healthy or not. According to Fred, it hadn’t been looked at in almost ten years. Familiar with how we’ve added value to other clients in the past, the attorney asked us to review the policy for Fred. Here’s what we found. Problem The policy had been designed to have a $40,000 annual premium for 12 years, then no more payments needed to reach…
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The current COVID-19 pandemic has created a noticeable spike in life insurance sales across the country. Truth is, this isn’t a new phenomenon. Life insurance policies tend to spike whenever there’s a major disaster. It happened after 9/11. It happened after Katrina. And predictably, it’s happening again. COVID-19 isn’t the only reason to have life insurance. Here’s why: Problem Every year, an estimated 800,000 people die of strokes and heart attacks. Tack on another 600,000…
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In this week’s edition of our weekly “What’s trending in life insurance” blog, we discuss some of the latest news to hit our industry. Articles from Forbes, Business Insider, and Bankrate. Topics covered include how to buy a policy, if you should buy one for your parents, and a parent’s thoughts on how she hopes her children would use her insurance proceeds. Continue reading below: How to Buy Life Insurance in 8 Steps Bankrate recently…