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Author: William Brown
Why is SYNCIS helping students affected by life insurance gaps?Syncis Insurance Solutions, LLC (SYNCIS) recently awarded two $5,000 college scholarships through Life Happens during Life Insurance Awareness Month.These scholarships were granted as part of SYNCIS’s ongoing commitment to supporting students who have experienced the loss of a parent without life insurance coverage.The percentage of Americans with life insurance has been decreasing over the last couple of decades. Currently, less than 60% of Americans are covered by life insurance.SYNCIS has made a multi-year commitment to continue funding such scholarships through the Life Lessons Scholarship Program.Each year, SYNCIS Associates review and vote…
What information was exposed during the cyberattack?New York Life Insurance Company has fallen victim to a major data breach, exposing the personal information of thousands of its customers.The breach, attributed to a cyberattack on the MOVEit file transfer program, has impacted an estimated 40 million individuals, including clients of the insurance giant.The breach occurred between May 29 and May 30 and targeted New York Life’s third-party vendor, Pension Benefit Information (PBI). It compromised sensitive data, including Social Security numbers.The attackers, believed to be associated with the Russian group Clop, exploited a security vulnerability in the MOVEit transfer system to carry…
What is Ohio National life insurance?Ohio National is a part of Constellation Insurance Inc., which describes itself as ‘a leading insurance company serving consumers and small business owners in the United States and Latin America’. It is a big brand company, that has over 34 billion USD in assets in various companies, like AuguStar Life, AuguStar Retirement and Ohio National Seguros de Vida S.A..Ohio National life insurance offers people a life insurance policy that can vary in sizes from small life insurances to fully covered plans.Its ratings are “A” and have a stable outlook, tested by independent researchers, with a low…
What do the Regulatory Changes entail?The Insurance Regulatory and Development Authority of India (IRDAI) has recently implemented groundbreaking changes.With the introduction of new regulations, insurance companies can now offer customers a unique combination of life insurance, health insurance, and market-linked investment products within a single comprehensive policy.This move marks a significant departure from the traditional approach of purchasing separate policies for different insurance needs and aims to simplify the insurance experience for consumers.Under the revised regulations, insurance companies no longer need to seek prior approval from the regulator for launching individual and group unit-linked life and health insurance products, as…
How does the partnership benefit individuals with diabetes?During Diabetes Week 2023, Bluezone, an international innovative insurtech company, has announced a strategic partnership with Diabetes.co.uk, the largest diabetes community worldwide.With a focus on supporting and empowering individuals living with diabetes, this collaboration aims to raise awareness and offer comprehensive life insurance solutions.Bluezone’s partnership with Diabetes.co.uk marks a significant step forward in improving access to life insurance for individuals with diabetes.As the world’s largest diabetes community, Diabetes.co.uk offers a wealth of resources and peer support to those impacted by the condition.With daily news updates, information guides, and research articles, the platform provides…
Who Will Acquire Sahara India Life Insurance?India’s insurance regulator has selected SBI Life Insurance Company Limited (SBI Life) to acquire the life insurance business of Sahara India Life Insurance Co. Ltd (SILIC).SILIC is one of India’s largest life insurers. According to the insurance regulator, SBI Life will assume responsibility for the policy liabilities of two lakh policies of SILIC, backed by the assets of the policyholders.The transfer will take effect immediately. It is important to note that this is a transfer of policyholder related assets and liabilities and not a merger between two companies.The issues leading up to a merger…
Can Meanwhile Propel the Digital Asset-Dominated Life Insurance Revolution?Meanwhile, the world’s first fully digital asset-denominated life insurance provider, has secured approximately $19 million in funding through two seed rounds.The initial round was co-led by Sam Altman, CEO of OpenAI, and Lachy Groom, former head of Stripe issuing. Gradient Ventures, a venture capital firm backed by Google, took the lead in the second round. The substantial funding enables Meanwhile to obtain a license and regulation from the Bermuda Monetary Authority, a prominent global insurance regulator.Moreover, the company plans to expand its team, launch its inaugural product, and offer Bitcoin (BTC)-denominated whole life…
Who are Pan American Life Insurance Company and Encova Life Insurance Company?Encova Mutual Insurance Group and Pan American Life Insurance Group have made a joint announcement that Encova Life Insurance Company (Encova Insurance), an affiliate of the Encova Mutual Insurance Group, will be acquired by and merged into Pan American Life Insurance Company (PALIC).Encova Insurance is a super-regional carrier, ranked in the top twenty mutual insurance companies in the United States. The company is rated A (excellent) by AM Best.The Encova Group markets insurance solutions through more than 2,000 independent agencies in the Midwest, Northeast and South.Pan American Life Insurance…
What are the average Term Life Insurance Rates?Even though the exact costs of life insurance depend on your health, age and other factors, the rates that we describe will give you an idea of what you can expect to pay.For a 30-year-old male, the average cost of life insurance is $13 a month for a 20-year, $250,000 term life insurance policy. The same policy will cost $12 for a 30-year-old woman.For 40-year-olds, the average cost for a 20-year, $250,000 term life insurance policy is $19 for a man and $16 for a woman.For 50-year-olds, the average cost for a 20-year…
What is genetic testing?Genetic testing is a medical test that examines a person’s DNA to identify changes or variations in their genetic material. It provides information about an individual’s genes and chromosomes, which are the building blocks of heredity and determine various traits and characteristics.The primary purpose of genetic testing is to detect genetic disorders, inherited diseases, or the risk of developing certain conditions. It can also be used to determine whether a person carries a specific gene mutation that could be passed on to their children.Genetic testing involves collecting a sample of DNA, which can be obtained from blood,…