LIC E-News

 View Only

Campaign Shines a Light on Consumer Misconceptions, and other industry news from LIC [The LICCONNECT version of the Bullet E-News]

  • 1.  Campaign Shines a Light on Consumer Misconceptions, and other industry news from LIC [The LICCONNECT version of the Bullet E-News]

    Posted 08-28-2022 08:50
    Edited by Audrey Wittenburg 08-28-2022 08:50
    News and events round-up from the Life Insurers Council
    August 26, 2022


    "Help Protect Our Families" Campaign Shines a Light on Consumer Misconceptions 
     

    For September, Life Insurance Awareness Month, the Help Protect Our Families Campaign is highlighting consumer misconceptions about life insurance. According to the 2022 Insurance Barometer Study, the top reason people give for not owning life insurance is that it is too expensive. Yet three quarters of Americans think it's three times more expensive than it
    actually is. Visit the campaign website for resources to help raise awareness and help middle-income Americans better understand life insurance.

    This month's LinkedIn LIVE Event will be September 21, 2022 at 1:00 p.m. EDT: Helping American Families Protect Their Financial Future. LIMRA/LOMA CEO David Levenson and two industry leaders will discuss how companies are engaging and educating the underserved markets and how the industry is addressing the growing life insurance coverage gap.

    HELP PROTECT OUR FAMILIES CAMPAIGN WEBSITE

    NFLIC Selected Among Best Companies To Work for in Fort Worth

    National Farm Life Insurance Company was honored as one of the 45 best companies to work for in Fort Worth, TX. Fort Worth Inc., the region's premier business magazine, prepares this annual ranking with help from the Workforce Research Group. NFLIC was recognized for its strong values, emphasis on loyalty, and generous benefits, which include a 25% 401(k) match.

    READ THE ARTICLE


    Australian Funeral Planning Platform Discusses Battle for Prepaid Funeral Market Share 

    In a recent press release, eziFunerals, Australia's leading funeral planning platform, discusses unanticipated new low-cost online funeral disruptors driving funeral costs down.

    READ THE PRESS RELEASE


    Compliance & Financial Crimes Conference Coming Up September 7-9

    The LIMRA LOMA Compliance and Financial Crimes Conference is coming up September 7-9, 2022, in Indianapolis, Indiana. In addition to peer-to-peer roundtable discussions, attendees will hear from industry experts on how to beat multi-factor authentication, new business fraud risk, compliance in the hybrid world, anti-fraud training, and more. CPE credits available.

    INFO & REGISTRATION


    Wilmsen Hired As ELCO Mutual VP of Business Development 

    ELCO Mutual announced the addition of Fred Wilmsen, RHU, ChHC, as Vice President of Business Development.

    READ THE PRESS RELEASE


    American National One of Fastest Growing Annuity Companies 

    The latest list of fastest-growing annuity issuers by Life Annuity Specialist highlights American National Insurance Company, which was in the top 5 in nearly all regions of the United States, where sales doubled or even tripled, according to data from S&P Capital IQ Pro. The article identifies the top 5 in each region, with 2021 premiums and percentage change from last year. 

    READ THE ARTICLE (SUBSCRIPTION REQUIRED)


    Crestline Announces Launch of CL Life

    Crestline Investors, Inc., a credit focused institutional asset manager, announced its entrance into the direct annuity insurance market with the acquisition of a life insurance company established in 1978 and licensed in multiple states, which will now operate as CL Life and Annuity Insurance Company, a provider of insurance products designed for retirement assets that seeks to offer policyholders stable growth, tax deferral and income planning. CL Life is one of LIC's newest members.

    READ THE PRESS RELEASE


     

    LIC Preneed Forum Offers Insurance Company Group Discount 

    Groups of three or more from the same insurance company or fraternal can take advantage of 50% off after the first two registrations for the LIC Preneed Forum hosted by Homesteaders Life in Des Moines, IA, November 16-17, 2022. 

    INFORMATION & REGISTRATION


    Liberty Bankers Increases Lump Sum Benefit for Critical Illness Product 

    Liberty Bankers Insurance Group, a nationally recognized provider of life, health, and financial products, announced its critical illness product has increased the maximum lump sum benefit from $30,000 to $70,000. This increased benefit is available through the company's independent agent distribution channel in twenty states.

    READ THE PRESS RELEASE


    Ibexis Life Launches Innovative Fixed Annuity

    Ibexis Life & Annuity Insurance Company has launched its MYGA Plus™ fixed annuity, which provides a choice between two fixed rates that are each guaranteed for the initial duration of the product. One option is to earn a traditional guaranteed fixed rate that pays a competitive fixed interest every day. The second option is to allocate to the "Plus Bucket," an indexed linked option that pays a higher fixed rate every year if the S&P 500 Index increases. If the index increases that year (no matter how much), the client earns the full guaranteed fixed rate for this option. (Ibexis Life is the former Sunset Life, a subsidiary Kansas City Life sold to Bona Holdings last year.)

    READ THE PRESS RELEASE


    Security National Reports Financial Results for June 30, 2022

    Security National Financial Corporation announced financial results for the quarter ended June 30, 2022. Pretax earnings decreases were attributed to this year's rising interest rates, declines in the stock markets, tight labor markets, and inflationary pressures.

    READ THE PRESS RELEASE


    Upcoming LIC Events

    LIC's calendar of events for 2022 is posted here. Here's what's coming this fall: 

    LIC Operations Committee Meeting
    Hosted by Security National Life, Salt Lake City
    September 20-22, 2022

    LIC Technology Committee Meeting
    Hosted by 1891 Financial Life, Schaumburg
    October 3-5, 2022

    LIC Human Resources Committee Meeting
    Hosted by Catholic Order of Foresters, Naperville, IL
    October 5-7, 2022

    LIC Annuity Committee Meeting
    Hosted by AAM Insurance Investment Management, Chicago, IL
    October 18-20, 2022

    LIC Investment & Capital Management Committee Meeting
    Hosted by Parkway Advisors, Abilene, TX
    October 26-27, 2022

    LIC Laws & Legislation Committee Meeting
    Hosted by Locke Lord, Atlanta, GA
    November 2-3, 2022 

    LIC ERM Committee Conference Call
    November 10, 2022, 2-3:30 PM ET

    LIC Preneed Forum
    Hosted by Homesteaders Life, Des Moines, IA
    Nov. 16-17, 2022

    Save the Dates...

    LIC Winter CEO Forum
    Wyndham Grand at Harbourside Place, Jupiter, FL
    January 31-February 1, 2023

    LIC2023 Annual Conference 
    Wyndham Grand at Harbourside Place, Jupiter, FL
    February 1-3, 2023
    ​​​​​

    LIC EVENTS PAGE


    LIC 2022 Premier Sponsors

    LIC's Premier Sponsors provide support to all LIC events throughout 2022.

    Parkway Advisors
    Parkway Advisors is focused on being the best most respected provider of service in the insurance industry. Parkway offers asset management, consulting, and statutory investment reporting services that are customizes to the needs of each insurance client. Through Parkway's emphasis on personal service, custom solutions, and strong communication, our clients have enjoyed historically strong performance success, especially during the financial crisis and the low interest environment that has followed. www.parkwayadvisors.com

    iPipeline
    iPipeline is a leading provider of low code, cloud-based software solutions for the life insurance and financial services industry. Through our SSG Digital, end-to-end platform, we provide process automation and seamless integration between every participant in our ecosystem including carriers, agents, general agencies, advisors, broker-dealers, RIAs, banks, securities/mutual fund firms, and their consumers on a global basis. Our innovative solutions include pre-sales support, new business and underwriting, policy administration, point-of-sale execution of applications, post-sale support, data analysis, reporting, user-driven configuration, consumer delivery and self-service, and agency and firm management. www.ipipeline.com

    Trilogy Actuarial Solutions
    Let Us Be Your In-House Actuaries. We are a trio of actuaries with a combined 45 years of experience providing exceptional service to insurance companies, fraternal benefit societies, and marketing organizations. We can support your existing actuarial staff or serve as your entire in-house actuarial department. We understand the value of a dedicated in-house team and we will endeavor to replicate this experience for you. Our goal is to seamlessly integrate into your organization and culture. www.trilogyactuarial.com


    thinktum
    thinktum is a technology company with a strong commitment to innovation, leadership and a responsibility to give back to the communities in which we serve. thinktum's dimmpl platform offers modular InsurTech systems that support true end to end functionality via multiple distribution models. Whether it be face-to-face or non-face-to-face, affiliate or direct-to-consumer, dimmpl supports you from early prospecting straight through to policy delivery. www.thinktum.com


    Equisoft
    Equisoft is a business-first technology company dedicated to helping insurance and wealth management organizations reach their goals. Specialized expertise: Over 25 years of experience helping small and mid-sized life insurers & fraternals solve their biggest challenges through digital transformation. www.equisoft.com

     

    SEE ALL LIC SPONSORSHIP OPPORTUNITIES


    About The LIC Bullet

    The Bullet is the official e-newsletter of the Life Insurers Council, which has been providing networking and practical business solutions for life insurers since 1910. As a council of LOMA, LIC serves the unique needs of small-to-midsize member companies, offering a personal network of peers with practical solutions to shared challenges. The Bullet delivers immediate and relevant industry news and editorial.

    LIC E-News Online Community: As a networking organization, we welcome dialogue and input from our readers – therefore we are transitioning the Bullet to its new home in the LIC E-News online community at LICConnect. All Bullet subscribers have access to this forum, and others can request access by contacting lic@loma.org.
     

    Copyright © 2022, All rights reserved.



    ------------------------------
    Audrey Wittenburg ALMI, ACS
    Associate Director
    LIC
    Silver Spring MD
    (703) 975-5626
    ------------------------------