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Life insurance sales increase due to coronavirus pandemic

October 14, 2020

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Life insurance is enjoying something of a renaissance as a result of the coronavirus pandemic.

Consumers, especially younger adults, have been buying insurance in elevated numbers since the spring, when thousands of Americans began getting ill and dying from Covid-19.

That result is logical, experts said, given the core use of life insurance: as a financial backstop in the event of death.

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For example, what if the breadwinner of a family dies unexpectedly from Covid-19? Insurance is meant to plug that immediate gap in household income.

“It’s forced the idea of financial protection and mortality to the top of mind for consumers in a way very few

Your next home insurance rate increase is going to be a whopper

October 10, 2020

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South Florida homeowners are about to get hit with insurance rate increases unlike any other we’ve ever experienced.

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We’re talking as much as 30% to 40% over what you are paying now and price hikes of $1,000 or more for your next year of coverage.

Insurers have been warning for years that these increases would hit us hard. And now they’re here, thanks to years of rising claims abuses, court-clogging litigation, spiraling costs from hurricanes Irma and Michael, and one of the most active seasons in memory for severe and destructive weather.

When Weston resident Ruth Bettini opened her insurance renewal notice in September, “I almost died of shock,” she said. The annual premium to insure her $550,000 house with Orlando-based St. Johns Insurance Co. had increased by 28% — from $4,647 last year to $5,946 for the term beginning Oct. 1. That’s $108.25 more per month.

She

Why The New Accredited Investor Definition Won’t Increase Access To Hedge Funds

October 9, 2020

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The Securities and Exchange Commission recently changed its official definition for what an accredited investor is, has been in discussion for years. On paper, that means more investors have access to hedge funds and other private funds and startups. However, that may not necessarily be a good thing for investors, and smaller hedge funds may not benefit either.

Senate Banking Hearing On Securities, Insurance And Investment — James Angel, associate professor at the McDonough School of Business at Georgetown University, from … [+] left, Thomas Peterffy, chief executive officer of Interactive Brokers Group Inc., Manoj Narang, chief executive officer of Tradeworx Inc., Kevin Cronin, global head of equity trading at Invesco Ltd, and Steve Luparello, vice chairman of the Financial Industry Regulatory Authority (FINRA), swear in for a Senate Banking hearing in Washington, D.C., U.S., on Wednesday, Dec. 8, 2010. Senators Jack Reed of Rhode Island and Carl Levin of Michigan, both Democrats, called the joint subcommittee hearing to

5 ways freelancers can increase cash flow while their income is down

October 8, 2020

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Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.

Many freelancers have taken a financial hit since the start of the pandemic, and most government relief has run out.
If you need to increase your cash flow to save or pay bills, financial planner Ben Henry-Moreland recommends looking first at your spending to see where you can cut back.
Then, look into any government programs that are still available, such as the EIDL, and consider reducing your health insurance costs if you’re able.
You can also reach out to your network to get more work, and reduce your quarterly tax payments to the IRS if your income has gone down.
Get Personal Finance Insider’s free guide to financial planners

D.C. residents to see small increase in health insurance marketplace rates

October 5, 2020

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Rates for individual coverage will increase overall by 0.2 percent and rates for small-group coverage, such as small businesses, will decrease by 0.5 percent, according to the D.C. Department of Insurance, Securities and Banking, which reviews and approves rates for the online marketplace.

The 2021 rates are a “big win for D.C. residents in making health care more affordable and accessible,” said William Borden, a professor of medicine and health policy at George Washington University. He pointed to how people have struggled to keep up with rising health insurance premiums, even before the novel coronavirus took hold.

“Having health insurance is clearly associated with better health outcomes, and so if there was going to be a sharp increase in insurance premiums that really could be devastating, especially as individuals, small businesses are already struggling financially,” Borden said.

Insurers initially asked for rate increases as high as 30 percent, but most

Top Factors That Increase Car Insurance Costs

October 5, 2020

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Press release content from Accesswire. The AP news staff was not involved in its creation.

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LOS ANGELES, CA / ACCESSWIRE / October 5, 2020 / Compare-autoinsurance.org ( https://compare-autoinsurance.org ) has launched a new blog post that presents several factors that affect the premiums and how to keep costs under control.

For more info and free car insurance quotes, visit https://compare-autoinsurance.org/why-do-you-pay-so-much-on-car-insurance-premiums

Car insurance rates have a tendency to rise over time. Besides that, there are several factors that affect the costs of car insurance like higher costs of medical bills, increased prices of newer vehicles, and others.

The most common factors that affect the price of car insurance are the following:

Address. The location where a driver is living has a major impact on the price of insurance. Different areas have different insurance rates that are influenced by theft rates, vandalism, traffic congestion, hailstorms, and others. Drivers

Does My Insurance Premium Increase if I Live in a Haunted House?

October 2, 2020

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Haunted houses are a celebrated part of American folklore. In Massachusetts sits Lizzie Borden’s home, a surviving testament to the little girl who supposedly slaughtered her parents with an ax in the dark of night. In New York’s Greenwich Village, 22 different ghosts haunt the “House of Death,” including famed author Mark Twain. Even the White House itself is rumored to be haunted.

tall grass in front of a house: Low Angle View Of Building Against Cloudy Sky

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Low Angle View Of Building Against Cloudy Sky

Americans love their horror stories, devouring Hollywood retellings of real-life ghost stories like American Horror Story: Murder House, The Haunting of Hill House and The Conjuring.

However, it’s a bit of a different matter when it happens to you.

Haunted houses are a subject that sparks much passionate debate among believers and non-believers, but a haunted house could have serious implications for your homeowners insurance. Here’s why.

[ Read: The Best Homeowners Insurance Companies

On CNN, TenHaken says with valuing personal freedoms ‘comes an increase in cases’

October 1, 2020

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Sioux Falls Mayor Paul TenHaken speaks with CNN anchor John King on Tuesday (Photo: screenshot)

Sioux Falls Mayor Paul TenHaken appeared on CNN Tuesday afternoon, speaking about the recent spike in cases and hospitalizations in the city as well as South Dakota.

CNN anchor John King introduced TenHaken after discussing South Dakota’s record-setting COVID-19 numbers, including the highest positivity rate in the country, and asked the mayor why cases were on the rise.

More: Recovered coronavirus patients outnumber new infections amid more deaths

“It’s a little bit of everything,” TenHaken said, noting that schools and colleges are open, and the state has been holding in-person events.

“We are a state that values personal freedoms, and values liberties,” TenHaken said, “and because of that we haven’t had a lot of restrictions, we haven’t had a lot of lockdowns, we haven’t had a lot of government mandates. And with that comes

U.S. Private Payrolls Increase More Than Expected in September | Investing News

September 30, 2020

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WASHINGTON (Reuters) – U.S. private employers stepped up hiring in September, but diminishing government financial assistance and a resurgence in new COVID-19 cases in some parts of the country could slow the labor market’s recovery from the pandemic.

Private payrolls increased by 749,000 jobs this month, the ADP National Employment Report showed on Wednesday. Data for August was revised up to show 481,000 jobs added instead of the initially reported 428,000. Economists polled by Reuters had forecast private payrolls would rise by 650,000 in September.

The ADP report is jointly developed with Moody’s Analytics. Though it has fallen short of the government’s private payrolls count since May because of methodology differences, it is still watched for clues on the labor market’s health.

The ADP report is based on active and paid employees on company payrolls. The Labor Department’s Bureau of Labor Statistics (BLS) counts workers as employed if they received

Factors and Events That Increase Car Insurance Costs

September 26, 2020

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LOS ANGELES, CA / ACCESSWIRE / September 26, 2020 / Compare-autoinsurance.org (https://compare-autoinsurance.org) has launched a new blog post that presents some unexpected factors that affect the costs of car insurance and what drivers can do to pay less on their premiums.

For more info and free car insurance quotes, visit https://compare-autoinsurance.org/why-did-the-price-of-car-insurance-went-up-and-what-drivers-can-do-to-take-control.

It can be frustrating for drivers who have no claims to get a car insurance renewal and see the price go up for no apparent reason. There are many factors that can make the price of car insurance increase. Some factors are related to the things that revolve entirely around the policyholders’ situation, the elements within their control. Other factors are beyond the policyholder’s control.

Some of the most common factors that can lead to an increase in insurance are the following:

Claims history and driving record.
History of convictions or driving violations.
Change of ZIP code.