State Farm Life Insurance Company, State Farm Life and Accident Assurance Company and State Farm International Life Insurance Company Ltd. announced an increase in the total dividend payout for 2010. The companies expect to pay to their life insurance policyholders an estimated $653 million in dividend payments on 3.5 million participating policies, a 3 percent increase over the total dividend payout for 2009. “The State Farm Life affiliates maintain a long-term focus to manage our business for the benefit of our policyholders. We believe all...  Lire la suite

In 2008, over 100 families and individuals a day were helped at the most difficult times in their lives by claiming on their life or critical illness (CI) insurance policies, according to data published today by the ABI.  The average claim was £52,000, double the average UK annual salary. The number of CI insurance claims being paid has risen significantly. In 2008, 90% of CI claims were paid, up from 80% in 2005. This is a result of the success of the ABI Code of Practice on CI Insurance that has led to less claims being declined due to non-disclosure...  Lire la suite

UK consumers are confused about what insurance cover they think they have compared with what they are actually covered for, according to Swiss Re’s latest edition of its flagship Insurance Report. Swiss Re is prompting UK life insurers to keep product definitions simple and to improve the transparency of what they offer. The financial crisis has led to an increased financial awareness among consumers in the UK. Swiss Re thinks the industry should seize the opportunity to empower consumers with the information they need to move from better awareness...  Lire la suite

Aviva has today lifted restrictions on withdrawals from its unit-linked UK property fund. Aviva introduced restrictions on surrenders, switches and transfers from the Aviva Unit-Linked Property Fund (Life and Pensions) on 22 January 2009 following a difficult period in the UK commercial property market between 2007 and 2009. The restrictions applied to investors in life bonds and pensions, and requests to move money out of the fund could be deferred for up to a maximum of six months. * (See note to editors). Customers will now be able to surrender,...  Lire la suite

Nine out of ten businesses offer life assurance as part of their benefits package, yet over half of workers don’t think it is provided to them as an employee benefit, according to research by Aon Consulting, the leading employee risk and benefits management firm. Aon is urging employers to ensure that workers value this important benefit, and to review their rates to ensure they are getting the best value cover. The research found that 95%* of companies offer some level of group life assurance to their employees. Of this 95%, 69% of companies...  Lire la suite