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Have you considered a long term care insurance policy but have not committed because you feel you would not use the insurance benefit? Some with this concern have another option that combines a long term care insurance policy with a traditional life insurance agreement to produce a long term care insurance policy that has a return of premium.

A.M. Hyers discusses more about these policies in his article Long Term Care Hybrid Policies.

The Union Mutual of Vermont Companies (UMVT) has deployed the ISCS’s flagship product, SurePower Innovation to upgrade policy administration and core business processes.

UMVT has completed an on-time, on-budget, full-suite implementation of the flexible, fully Web-based platform, SurePower Innovation to provide increased ease of doing business for policyholders and to independent agents.SurePower Innovation features software modules for real-time rating and quoting insurance coverage and provides print and electronic correspondence, issuing and managing policies, billing, and Web access for agents.ISCS Professional Services vice president Leslie Holden-Mikesell said that the use of agile project methodologies assist in meeting key milestone.UMVT aims to extend the SurePower Innovation for new and renewal business owners policies in the other New England states next month following Connecticut business owner’s policies, and with other lines of insurance in 2012.

It will no longer sell products previously offered by Friends Provident, Bupa Health Assurance or Axa.

However, the insurer will still service customers who have already applied for previous products.

The new Protect+ proposition consists of income protection (IP), critical illness (CI), life and business protection products.

Additionally, Best Doctors’ second medical opinion service and Bupa HealthLine are available as standard on IP, CI and life policies.

IP plans offer a guaranteed coverage of £15,600 per year while CI includes 14 ABI+ conditions and eight partial payments definitions.

Applications can be made either online or on paper with teleunderwriting and support helplines for advisers.

It has also included the ability to write a policy into trust online and a fracture cover which will pay out to a customer suffering one of 18 different types of fracture.

Steve Payne, managing director of protection at Friends Life, said: “We recognise the importance of building strong relationships with advisers and this is a fundamental part of our new offering to the IFA market.

“By taking the best elements of the three businesses that now make up Friends Life, we have created a powerful new proposition.”

Details of the new proposition include:

• Income Protection- guaranteed benefit of £15,600 a year- hospitalisation benefit with no exclusions- therapy and trauma benefits- waiver of premium to aid the claims process- doctors’ sick pay initiative specifically designed for NHS doctors- Fracture Cover.

• Critical Illness Cover- 14 ABI+ conditions, including cancer, heart attack, stroke and multiple sclerosis- eight partial benefit conditions paid in addition to the main benefit- child cover, including congenital conditions- advance payment up to £25,000 for heart surgery paid to the customer- premium reductions for diabetes and diabetic risks- Fracture cover – intensive care benefit for children- family income benefit option.

• Life Cover- flexible cover- optional features to give maximum flexibility to the customer- Fracture cover- family income benefit option.

• Business Protection- Covers: key partners, shareholders and for loan cover- capacity to offer £10m for life; £5m for CI and £2m for own occupation total permanent disability- capability to consider higher levels of sum assured.

That’s great news if you are wanting a Subaru, but if you are eying another model there is good news for you too. Every major auto maker has at least one model that made the list and according to , “The list of winners of the Insurance Institute for Highway Safety’s Top Safety Pick award is longer than ever this year, with vehicles in nearly every size category the Institute evaluates earning accolades. From minicars to sedans to pickups, consumers have a record number of choices among 2012 models.”

“In all, 69 cars, 38 SUVs, 5 minivans, and 3 pickups earn Top Safety Pick.

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When people are in need of money one place they often look is their whole life policy. It is their money, it’s just sitting there and it’s somewhere they can actually tap into to get a supply of income. This can seem convenient but the truth is it is not always the best option to take. Remember this is your insurance policy for the future, to support you and your family if something should happen to you. Borrowing from it may be argued as using it for the reason it was created but it’s likely not to be.

Getting money from the whole life insurance policy for example is not quick, so this does not fit its purpose if you need money in an emergency. To g Read more…

Broadspire, a Crawford Company, has gone live with the RiskTech claims management system, retiring its ARMS and SISDAT legacy systems and converting over 10m claims.

Broadspire’s legacy system was converted in 2009 and will now enable the clients with rules-based claims management system that provides ability to manage attachments including digital statements for easy accessibility, easy and flexible editing and adding codes and fields.

The clients are provided with detailed reserve worksheets that help claim professionals precisely calculate indemnity and medical expenses, said the company.

Broadspire president and CEO Ken Martino said RiskTech customizes the data capture process on a per-client basis, allowing each to receive the crucial information needed to drive a claim toward the optimum outcome.

“By consolidating our claims into one system, we can concentrate our training, development and organizational efforts on that system,” Martino said.

The system also provides easy, secure, real-time access for clients through the Dmitri Suite of RMIS services, and allows automatic policy validations that highlight inconsistencies for further accuracy.

The system also provides claim and medical notes organized for improved communication between all parties, and includes a Broadspire MyClaim portal to enable injured workers to view their indemnity payments through any computer or mobile device.

RiskTech works in conjugation with Broadspire’s e-Triage system that determines obstacles to recovery by recording claims information as data points.

It said it appreciated the coalition’s attempts to simplify the tax system but felt this was the wrong target to choose and could result in confusion for many elderly customers.

People paying into qualifying life insurance policies taken out before 1984 currently get 12.5% tax relief on their income tax.

In 1984 this was abolished for new customers, but the decision was taken to keep it for current customers as it would end on the death of individual policyholders.

The government’s proposals will now end this exemption.

Mark Edwards, head of taxation at the ABI, said: “Whilst we strongly support the government’s efforts to simplify the tax system, we are disappointed that they have chosen to end life assurance premium tax relief.

“The relief is not obsolete.

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Renters insurance should figure very prominently in your life if you are living in a rented apartment or house. Do not be misled by the impression that your landlord will be liable for any damages to your fixed assets. After all, while he might be the rightful owner of the house, you are now renting it from him and are now living in it and as such, you will be held responsible for your own assets if something were to happen to them. Thus, it is highly important that you should get renters insurance as soon as possible.

One of the main things you should do before settling for any insurance would be to go for renters insurance comparisons. Read more…