Calming down jittery consumers (report on annual meeting of the Life Insurance Marketing and Research Association)

Article Abstract:

The Life Insurance Marketing and Research Association, meeting in Chicago, emphasized the need to strengthen the life insurance industry financially in order to counteract the confidence crisis. On the positive side, the meeting showed that aging yuppies had a pressing need for services that the life insurance industry could provide. Also European life insurance companies are eager to invest in U.S. firms, which presents an opportunity for firms that are undercapitalized.

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LifeUSA

Article Abstract:

A policy holder who becomes disabled after choosing a lifetime income provision under LifeUSA's new Idea Annuity receives an additional 30-60% of monthly benefits. Disability, under the policy, means inability to perform some combination of nine basic activities of daily living. These activities include bathing, cutting toenails, climbing stairs, dressing, eating, medicating or administering prescribed medication and moving unassisted for a quarter-mile.

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Celtic Life

Article Abstract:

Policy holders must pay $1,300 or $1,600 in out-of-pocket hospitalization expenses and a $300 or $600 deductible under Celtic Life Insurance Co's Small Group Preferred Provider Organization (PPO) plan. Policy benefits are reduced for expenses in non-PPOs. The plan is available for groups or from three to 25 members. Costs, restrictions and benefit limitations are outlined.

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