Requiring Approval of All Insureds and Mortgagees To Assign Policy Upheld by Florida Court

    The Florida Court of Appeal upheld an assignment of benefits provision that required signatures of all insureds and mortgagees. Restoration 1 of Port St. Lucie v. Ark Royal Ins. Co., 2018 Fla. App. LEXIS 12633 (Fla. Ct. App. Sept. 5, 2018).      Ark Royal issued a homeowner’s policy to the insureds. The policy stated that “[n]o assignment of claim benefits, regardless of whether made before a loss or after a loss, shall be valid without the written consent…

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What Are Hurricane Deductables for Florida

Courtesy of iii.org After Hurricane Andrew in 1992, insurers realized that losses from hurricanes could be much higher than they had previously thought. Hurricane Katrina, in 2005, which cost insurers more than $41 billion at the time, confirmed their fears. After these extraordinary losses, reinsurance companies, insurers that share the cost of claims with primary companies, such as homeowners insurers, said that they could not assume so much risk and that primary companies must reduce their potential losses. During the…

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Halloween (the movie) & Minimizing Risk

The latest remake of the 1978 original “Halloween” horror flick surprised a few people with its opening weekend sales of $77 million! This was more than double the formerly highest grossing “Halloween” movie ($26 million its opening weekend in 2007). Looking at these large dollar figures, it seems that people like to get scared more in a group (such as in a theatre) than at home. What’s the appeal? When things go wrong…when things get scary…there is comfort in numbers.…

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Here’s Why We Need to Prepare For Retirement Differently

Talking about retirement planning in Singapore is definitely tricky, especially for those in their 20s, 30s or 40s. On one hand, it’s quite tough to expect anyone to really foresee what their life is going to be like 20-30 years down the road. On the other hand, you have other life goals to consider and plan for, such as getting married, planning for your child’s future education, buying a home, a car or even a long dream holiday. When it…

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Monumental Life Insurance Company Review [Now Transamerica]

*Important Note: In 2014, Monumental Life insurance Company changed its name to Transamerica Premier Life Insurance Company. If you still have a policy with the name Monumental Life Insurance Company, you should have received some notifications in the mail. According to the to the press release, “It’s the same company, just with a different name, so your policy or certificate number will not change.” If you would like to learn more about Transamerica, you can check out our review of the…

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How E-Cigarettes Affect Life Insurance Rates – LifeInsure.com

Finding life insurance policies can be difficult if you have pre-existing health conditions or if you are a smoker. Even those who occasionally smoke or use e-cigarettes can regularly experience 2 to 5 times higher life insurance rates than non-smokers. Thankfully, there are life insurance companies that provide affordable life insurance rates for e-cig smokers and vapers. Before we dive into the details of life insurance rates for e-cig smokers and where to find the best rates, let’s some time…

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Got Life?

Those of us in the life insurance business know that life insurance is so basic and foundational that we must never stop asking this one question. In fact, life insurance is so fundamental to our country’s economic health that the U.S. tax code encourages its purchase. That’s a powerful endorsement of the value we bring families. Every lawyer designing a client’s last will and testament, a family trust, a business owner’s transfer plan or a charitable giving strategy, and every…

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PTSD Life Insurance: What to Do?

What Is PTSD? PTSD, you may know, is a mental disorder. It stands for post-traumatic stress disorder which a patient suffers from out of catastrophic experiences that threaten life. Traumatic experiences may arise out of any huge fear by natural disasters, witnessing crimes or even from undesired personal experiences. Though not most people experience PTSD, available statistics can be very frightening. PTSDUnited.org that spreads awareness about the disorder, says an approximate 70% or 223.4 million of the US people have…

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Can I Get Life or Disability Insurance If I’m Overweight?

When you apply for disability insurance, they discern your risk of having a claim. If you are considered overweight, you may receive a rating, an additional premium assessed to your policy. Here is a scale showing the height weight chart. keep in mind that companies vary slightly but this is a good guideline.   Height/Weight Chart MALE Height PreferredPlus Pref NT & Pref T StandardPlus StdNT StdT Feet In Low High Low High Low High 4 8 83 126 82…

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Increase Your Savings with Life Insurance Direct Refer A Friend

About the life insurance referral program Help your friends protect their financial futures and get rewarded while doing it. Refer a friend to Life Insurance Direct and collect up to $100 per friend that successfully signs up. Even if you’re not a customer yet, but have requested a life insurance quote, you can still use your life insurance promotion code, valid for 90 days, to refer other friends. If you decide to apply within the 90 -day period and some…

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