Article Abstract:
Life insurance policies that were sold in the 1980s based on the assumption of perpetually high interest rates are causing a legal and public relations crisis at some companies. Policies that might have been paid off in as little as 5 years are now stretched out to as much 20 years, and policyholders are suing over the 'vanishing' premiums. To mitigate the problem, companies are mailing notices and even sending agents out personally, but the use of in-force illustrations could have prevented the problem.
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Article Abstract:
Life insurance companies have found that selling insurance products in the workplace opens up a new set of marketing opportunities. Insurance sales made in companies appeal to workers who prefer to make such decisions at the office, and many companies use the sales as a means of reducing costs as insurance companies usually offer discounts on such sales. Supplemental indemnity coverage is the most popular product, followed by specialty coverage such as dental and vision care coverage.
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Article Abstract:
Most life insurance companies that offer electronic ordering services need to improve those services. Most services require callers to communicate with a computer rather than a person. The systems are easy to use, but most do not ask the caller for enough information to make an insurance underwriting decision. The worst part of the services is the follow-up. Though many companies promise applications, detailed illustrations and other information, few deliver on those promises.
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