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"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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.)
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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.
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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
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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
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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.
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