Archive for December 21st, 2009

85% Of Term Life Insurance Policies Never Result in a Death Claim

Monday, December 21st, 2009

 

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Life insurance represents a valuable fi nancial solution to the various needs of businesses and families. Over time, however, these needs change. Loans are repaid; key executives retire; estates become smaller; businesses are sold; estate taxes are reduced — or better yet, no longer exist. Or, with interest rates down, a policy may just be too expensive.

According to a leading actuarial consulting firm, 88% of all universal life and 85% of all term policies never result in a death claim. In the past, these policies were surrendered to the insurer for their cash value, or worse, allowed to lapse for nothing at all. Life settlements present a compelling alternative. By allowing policyowners to access the market value of their policies, life settlements generate significantly more than surrender value for unneeded policies. And this value can create enormous opportunities for policyowners and advisors alike.

A life settlement can be arranged on any type of life insurance policy, including term life. Face amounts as low as $100,000 are candidates, with life expectancy of 21 years or less. If you have a policy that you no longer need, or know of someone who is about to let their life insurance policy lapse, contact RiskManager@sbcglobal.net for information on how to convert that life insurance policy into cash.

 

Fleeced by a Vendor, Hospital System Starts their Own PBM

Monday, December 21st, 2009

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Does spread pricing get you down? Are you really getting 100% of the rebates? Maybe you should consider starting your own PBM – Fairview Health Systems did just that. They formed their own PBM –  ClearScript is a business of Fairview Pharmacy Services LLC, which is a wholly-owned subsidiary of  Fairview Health Services.  In their first year they saved millions of dollars for the 18,000 employees of Fairview Health Systems – www.clearscript.org.