Headlines about "Death benefits, incl. life insurance"
Gathered from the web by the editors at BenefitsLink.com.
[Guidance Overview] HEART Act Changes Retirement Plan Rules for Military Reservists
Excerpt: "In June, the Heroes Earnings Assistance and Relief Tax ('HEART') Act became law. The Act makes a number of significant changes to the treatment of military reservists under employee benefit plans. This article summarizes those changes as they apply to qualified defined benefit and defined contribution plans, Section 403(b) plans, and Section 457(b) plans." (Spencer Fane Britt & Browne LLP)
[Guidance Overview] Retirement Provisions in the HEART Act May Affect Multiemployer Plans (PDF)
2 pages. (The Segal Group, Inc.)
[Opinion] Two Interesting But Different Cases - Both Related to Broad Impact ERISA Has Across the Workplace
Excerpt: "[I]n this first one, you find the story of the Third Circuit concluding that certain death benefits were not pension, but instead welfare, benefits, which did not vest and could be revoked, despite long time practice and the reliance of employees on the benefit as part of retirement planning. . . . In the second story, you see the potential reach of ERISA in an attempt, ultimately rejected by the court, to have it reach and protect what was otherwise allegedly illegal conduct in providing fringe benefits . . . ." (Stephen Rosenberg of The McCormack Firm, LLC)
[Guidance Overview] 3rd Circuit Appeals Court Rules Death Benefits Not Protected Under ERISA
Excerpt: "Former employees of AT&T Corp. and Lucent Technologies who claimed they were cheated out of death benefits have lost their bid to revive an ERISA suit now that the 3rd U.S. Circuit Court of Appeals has ruled that the benefits were unvested and therefore could be terminated by Lucent." (South Florida Personal Injury Lawyers)
[Opinion] On Estoppel and Equitable Remedies Under ERISA: It Should Be a Two-Way Street
Excerpt: "I've complained at times in the past that too many federal Circuit and District courts view ERISA's equitable remedies as a one way street. Plan fiduciaries chasing subrogation or overpayment claims have free rein to recover money from plan participants under the guise of 'appropriate equitable relief.' Yet those some courts often deny the participants any monetary recovery for violations of ERISA because recovery of money supposedly falls outside the scope of 'appropriate equitable relief.'" (Brian S. King's ERISA Law Blog)
[Guidance Overview] Feuer on a Curious ERISA Case Before the Supreme Court
Excerpt: "Friend of the blog and prominent ERISA practitioner, Albert Feuer, has penned an indispensable commentary for anyone who is following the ERISA Supreme Court case of Kennedy v. Plan Administrator for Dupont Savings and Invest Plan. Kennedy is set to be argued in front of the Supreme Court this October." (Workplace Prof Blog)
ConAgra Gets Initial OK for In-House Insurance Benefits Plan
Excerpt: "ConAgra Foods Inc. has received tentative approval from the Labor Department to fund employee benefit risks through its Arizona-based captive insurance company. The . . . food manufacturer wants to use its captive, Risk Resources Ltd., to reinsure life insurance and accidental death and dismemberment policies covering about 22,800 employees written by Prudential Insurance Co. of America." (Workforce Management; free registration required)
[Guidance Overview] Determining the Burden of Proof Under Accidental Death Policies
Excerpt: "The nuances that attend defining the complex of circumstances which may be deemed 'accidental' have served as a staple defense in the denial of claims under accidental death insurance policies. Though the fact patterns of these cases are frequently interesting (at least compared to our standard fare as readers of ERISA cases), Hancock v. Metro. Life Ins. Co presents the issue with more intrigue than most." (Health Plan Law blog by Attorney Roy F. Harmon III)
Plan Changes for Sponsors in Benefits Offered to Returning National Guard Service Members and Their Beneficiaries
Excerpt: "The Heroes Earning Assistance and Relief Tax (HEART) Act of 2008 includes a broad package of mandated benefits changes including substantive shifts in how employers determine death benefits for service members. The death benefit changes were contained in the Honoring Existing Retirement Obligations for Every Service Member (HEROES) Act that was part of the larger bill." (PLANSPONSOR.com; free registration required)
[Opinion] Health Plans get Judicial Support and Bad Press - Again
Excerpt: "In a nutshell, the media, attorneys, politicians and the insureds see Plans recovering all of the money they are entitled to according to the Plan Document, but the Plan Participants cannot recover all of the money they would be entitled to if they were to receive benefits in accordance with the Plan Document." (Passion for Subro)
Retirement Plans and Insurance Policies Offer Quick Money with Real Disadvantages
Excerpt: "While tapping these funds may seem like a convenient way to address an immediate need, such as a looming medical or tuition bill, financial advisers urge caution. They say that consumers should carefully weigh the ramifications -- the possibility of a big tax bill and far less savings in retirement, for example -- before dipping into a 401(k), Individual Retirement Account or life-insurance policy." (The Wall Street Journal)
Pensioners Battle Qwest Over Insurance Benefit
Excerpt: "Seven retirees led by Edward J. Kerber of Warrenton, near Astoria, sued Qwest in March 2007 saying the company violated pension law by reducing payouts from the life insurance program. Those retirees want a federal judge in Denver, where Qwest is headquartered, to include all retirees in their case, including about 11,300 in Oregon and Washington." (Oregon Live LLC)
[Guidance Overview] Amending Split-Dollar Life Insurance Arrangements May Avoid Section 409A Treatment (PDF)
Page 1 of 5 pages. Excerpt: "If an SDA is subject to Code Section 409A, the next and more difficult step is determining what amendments are required to comply with Section 409A. Generally, the amended SDA should limit distributions to those events permitted under Section 409A (termination of employment, death, disability, change in control, hardship or stated time)." (Miller & Chevalier Chartered)
Court Denies Interest on Benefit Paid 12 Years After Death
Excerpt: "The U.S. District Court for the District of Delaware has denied a request by a deceased pension plan participant's ex-wife for interest on surviving spouse benefits paid to her 12 years after her ex-husband's death." (PLANSPONSOR.com; free registration required)
On Intoxication and Accidental Death and Dismemberment Policies
Excerpt: "There are a few things of interest about the [First Circuit opinion on Stamp v. MetLife] that warrant further reading. In the first instance, the case lays out the proper manner by which a court should consider an administrator's review of this particular type of scenario, and what type of discretion is granted to that review." (Stephen Rosenberg of The McCormack Firm, LLC)
DUI Death as Accident Issue Divides Appellate Court
Excerpt: "A sharply divided federal appellate court has upheld a lower court ruling that the widow of a life insurance plan participant killed in a 2002 car accident did not deserve a benefit payout because the alcohol-related crash was not considered an accident." (PLANSPONSOR.com; free registration required)
[Official Guidance] Text of IRS Rev. Rul. 2008-42: Premiums Paid by S Corporation on Employer-Owned Life Insurance Contract (PDF)
Excerpt: "HOLDINGS: (1) Premiums paid by an S corporation on an employer-owned life insurance contract, of which the S corporation is directly or indirectly a beneficiary, do not reduce the S corporation's [accumulated adjustments account, or 'AAA']. (2) The benefits received by reason of the death of the insured from an employer-owned life insurance contract that meets an exception under § 101(j)(2) do not increase the S corporation's AAA." (Internal Revenue Service)
[Guidance Overview] Supreme Court Declines To Hear Amschwand
Excerpt: "The Supreme Court has denied cert in Amschwand v. Spherion - the Fifth Circuit decision which denies death benefits as an impermissible attempt to collect money damages." (Health Plan Law blog by Attorney Roy F. Harmon III)
[Guidance Overview] New Reporting Requirements for Employers with Corporate Owned Life Insurance (PDF)
Page 8 of 8 pages. Excerpt: "Taxpayers who hold employer-owned life insurance contracts that are subject to the requirements of Section 101(j) are required to file Form 8925 with their income tax return for each tax year ending after November 13, 2007." (The Cochlan Group)
[Guidance Overview] Focus on Employee Benefits, June 19, 2008 (PDF)
6 pages. The newsletter includes items on: ERISA Litigation: Supreme Court Ruling in MetLife v. Glenn; Exec Comp Corner: Proposed Legislation Would Tax Foreign Deferred Compensation Arrangements; Income, Reporting and Employment Tax Rules for Post-Death Exercises of Nonqualified Stock Options; Offsetting Pensions of Rehired Employees; and, Vested Retiree Health Benefits. (Miller & Chevalier Chartered)
[Guidance Overview] A Discussion of Amschwand v Spherion Corp.
Excerpt: "In Amschwand v Spherion Corp., 505 F.3d 342, 41 EBC 2697 (5th Cir. 2007), Mr. A was on medical leave for terminal cancer and still covered by Spherion's life insurance plan. At the end of the year, Spherion changed to a new insurance carrier and was supposed to list Mr. A as one of the carryovers to the new policy -- but didn't." (Pension & Benefits Blog)
Companies Promise CEOs Lavish Posthumous Paydays
Excerpt: "Dozens of . . . companies offer lush death-benefit packages to their top executives, according to a Wall Street Journal review of federal filings. Many companies accelerate unvested stock awards after a death, which by itself can amount to tens of millions of dollars. Some promise giant posthumous severance payouts, supercharged pensions or even a continuation of executives' salaries or bonuses for years after they're dead." (The Wall Street Journal)
Asset Allocation and Location over the Life Cycle with Survival-Contingent Payouts
Excerpt: "This paper shows how lifelong survival-contingent payouts can enhance investor wellbeing in the context of a portfolio choice model which integrates uninsurable labor income and asymmetric mortality expectations." (National Bureau of Economic Research; paid subscription or individual purchase required to retrieve fulltext)
Solicitor General Recommends High Court Review of ERISA Remedies Case
Excerpt: "U.S. Solicitor General Paul Clement on May 23 urged the U.S. Supreme Court to grant certiorari in Amschwand v. Spherion Corp. in order to address 'equitable relief' under ERISA Section 502(a)(3)." (The ERISA Industry Committee)
In Germany, Survivor Pension Benefits May Be Extended to Same-Sex Partners
Excerpt: "An April 2008 ruling by the European Court of Justice will require German courts to determine whether a registered same-sex partnership and a marriage should be considered equivalent and, thus, whether surviving partners should be entitled to the same kinds of survivor benefits. The court's decision may have consequences for occupational and public pension plans both in European Union countries in which same-sex marriage and legal partnerships are recognized and in countries in which they are not." (Watson Wyatt Worldwide)
[Guidance Overview] Peru Grants Survivor Pensions to Common-Law Partners
Excerpt: "A recent court ruling in Peru gives common-law partners the right to receive a survivor pension under the public pay-as-you-go system." (Watson Wyatt Worldwide)
ERISA Equitable Relief Case Recommended to Supreme Court
Excerpt: "U.S. Solicitor General Paul D. Clement is recommending the Supreme Court hear a case involving a test of Employee Retirement Income Security Act (ERISA) Section 502(a)(3), which allows beneficiaries to sue 'to enjoin any act or practice which violates' ERISA or 'to obtain other appropriate equitable relief to redress such violations.'" (PLANSPONSOR.com; free registration required)
[Guidance Overview] ERISA Preemption of State Bars on Discretionary Clauses in Health and Life Insurance Policies (PDF)
At page 5. Excerpt: "For years, discretionary clauses have been challenged by ERISA plaintiffs and consumer groups. State insurance regulators entered the fray in 2002, and appear to be succeeding in setting aside these clauses for insured plans. Significantly, the usual ERISA preemption defense appears to be giving way to a wave of state insurance regulation preventing insured ERISA plans from giving Firestone discretion to fiduciaries of insured plans. This article examines some recent case law on the preemption issue . . . ." (Proskauer Rose LLP)
[Opinion] A Reconsideration of Tax Expenditure Analysis (PDF)
87 pages. Excerpt: "This document, prepared by the staff of the Joint Committee on Taxation . . . reconsiders the utility of the JCT Staff's current implementation of tax expenditure analysis. . . . Driven off track by seemingly endless debates about what should and should not be included in the 'normal' tax base, tax expenditure analysis today does not advance either of the two goals that inspired its original proponents: clarifying the aggregate size and application of government expenditures, and improving the Internal Revenue Code." (U.S. Congress, Joint Committee on Taxation)
[Guidance Overview] CRS Report for Congress: Survivor Benefits for Families of Civilian Federal Employees and Retirees (PDF)
6 pages. Excerpt: "Federal employees with permanent appointments are eligible for retirement and disability benefits under either the Civil Service Retirement System (CSRS) or the Federal Employees Retirement System (FERS). . . . Both FERS and CSRS provide survivor benefits for spouses and dependent children of employees and retirees. . . . The federal government pays compensation to dependent survivors of federal civilian employees who are killed while performing their duties; however, a survivor eligible for both an annuity under CSRS or FERS and for survivor compensation cannot receive both." (Congressional Research Service, U.S. Library of Congress)
[Guidance Overview] ERISA Does Not Preempt Michigan's Restriction
Excerpt: "The ERISA preemption doctrine can perhaps be best understood as a triangle. The first side is the premise that federal law trumps state law in the area of benefits. The second side provides an exception for insurance, where states are free to regulate. The third side provides a clarification that self-insured benefits are not insurance. Most ERISA preemption litigation occurs at the intersection of the first two sides of the triangle. Case in point: a recent Michigan case that tested the legality of some administrative rules that took effect in June 2007." (infinisource)
AK Steel Appeals Surviving Spouses' Benefit Ruling
Excerpt: "AK Steel has appealed a ruling by a federal judge in Ohio that the company erroneously cut the pension benefits due to widows and widowers of AK Steel retirees." (PLANSPONSOR.com; free registration required)
[Guidance Overview] Retirement and Survivor Annuities for Former Spouses of Federal Employees (PDF)
6 pages. Excerpt: "A former spouse of a federal employee may be entitled to a share of the employee's retirement annuity under the Civil Service Retirement System (CSRS) or the Federal Employees' Retirement System (FERS) if this has been authorized by a state court decree of divorce, annulment, or legal separation. An employee also may voluntarily elect a survivor annuity for a former spouse. A state court can award a former spouse a share of the employee's retirement annuity, a survivor annuity, or both. A court also can award a former spouse of a federal employee a portion of the employee's Thrift Savings Plan (TSP) account balance as part of a divorce settlement." (Congressional Research Service via BenefitsLink.com)
Participant's Former Stepdaughter Should Get 401(k) Distribution, Says Federal Judge
Excerpt: "U.S. District Judge John R. Tunheim of the U.S District Court for the District of Minnesota issued the ruling that rejected claims the participant's beneficiary designation should not be honored because the participant was incompetent at the time.Tunheim ruled that stepdaughter Tracy Marks did not exert improper influence over James Marier when he executed the beneficiary designation naming Marks in 2001 and 2002.' (PLANSPONSOR.com; free registration required)
[Guidance Overview] IRS Clarifies Grandfathering Rules for Split Dollar Life Insurance Contracts (PDF)
2 pages. Excerpt: "In Notice 2008-42, to be published on April 14, 2008, the Internal Revenue Service clarified the interaction of three grandfathering rules as applied to split dollar life insurance contracts. . . . In the Notice, the Service concluded that, because the grandfathering rules under sections 101(j) and 264(f) are tied to changes in the 'contract,' a change in the split dollar arrangement that does not modify the terms of the underlying insurance contract is not a material change for purposes of those rules. Such a change could vitiate grandfathering under the split dollar regulations, but not under the two statutory provisions." (Sutherland Asbill & Brennan LLP)
Chrysler Cuts White-Collar Retiree Life Insurance
Excerpt: "Chrysler LLC's white collar retirees are losing free life insurance benefits but are eligible for an up to a $4,000 one-time pension boost, according to a letter retirees should receive this week. Previously retirees were covered by a $50,000 life insurance policy at no charge to them. Now, Chrysler will allow workers to buy into a voluntary plan through MetLife at a reduced, group rate. Eliminating life insurance is the latest is a series of cost-cutting moves for Chrysler under private ownership by Cerberus Capital Management LP." (The Detroit News)
[Guidance Overview] Modification to Terms of Split-Dollar Life Insurance Arrangements Is Not a Material Change to Underlying Life Insurance Contract
Excerpt: "IRS guidance provides that a modification of a split-dollar life insurance arrangement that does not affect the life insurance contract underlying the arrangement is not a material change in the life insurance contract that would cause it to lose its 'grandfathered' status and become subject to recently enacted tax rules provided in Code Sec. 101(j) and Code Sec. 264(f)." (CCH Incorporated)
[Official Guidance] IRS Notice 2008-42: Modifications of Split-Dollar Life Insurance Arrangement Entailing No Change to Underlying Life Insurance Contract (PDF)
4 pages. Excerpt: "This notice provides guidance regarding the application of §§ 101(j) and 264(f) of the Internal Revenue Code (Code) to life insurance contracts that are subject to split-dollar life insurance arrangements. Specifically, this notice provides that a modification of a split-dollar life insurance arrangement that does not entail any change to the life insurance contract underlying the arrangement will not be treated as a material change in the life insurance contract for purposes of §§ 101(j) and 264(f)." (Internal Revenue Service)
[Guidance Overview] IRS Guidance on 2008 Law Changes
Excerpt: "The IRS has released guidance on several law changes going into effect in 2008. Of interest to defined contribution practitioners, Notice 2008-30 discusses distributions of gap period income for 402(g) corrections, rollovers of pretax plan accounts to Roth IRAs, and qualified optional survivor annuities." (SunGard Corbel LLC)
[Guidance Overview] Married for One Year Language in Plan Document Defeats Claim for Benefits
Excerpt: "Common language contained somewhere in most qualified plan documents is the definition of spouse. Within that definition can be the requirement that a participant must be married for a period of one year before the spouse is recognized by the plan as the participant's spouse. In a recent case from the 5th Circuit Court of Appeals, the interpretation of married for one year was central to the outcome of the claim for benefits." (Pension Protection Act Blog)
[Guidance Overview] Surviving Spouse Plan Requirements Cannot be Changed by Oral Representation
Excerpt: "The 5th U.S. Circuit Court of Appeals affirmed a lower court ruling that a pension plan administrator was correct in denying surviving spouse benefits to a widow not legally married to the deceased participant at the time of his retirement." (PLANSPONSOR.com; free registration required)
[Opinion] Allocating the Costs of Life's Misfortunes - The Economics at Work Behind Health Insurance Policy Exclusions
Excerpt: "When insurance carriers do not pay claims, the costs must be allocated among other payers. In some cases, the financial burden will fall entirely on the plan participant. In others, and I think more often the case, the costs of non-payment will fall on a broader group. For example, if a carrier does not pay benefits and the insured has limited means, who pays the health care providers for services rendered?" (Health Plan Law blog by Attorney Roy F. Harmon III)
[Guidance Overview] IRS Guidance on PPA Provisions Relating to Distributions, Spousal Annuities, 'Gap Earnings'
Excerpt: "[Notice 2008-30] provides guidance on qualified optional survivor annuities (QOSAs) and on amending retirement plans to require that distribution of excess deferrals includes earnings from the end of the taxable year to the date of distribution (referred to as 'gap-period' earnings)." (Wolters Kluwer)
[Guidance Overview] IRS Issues Guidance on Rollovers to Roth IRAs, Optional Survivor Annuity Rules
Excerpt: "The IRS has issued guidance, in question-and-answer format, on the provisions of the Pension Protection Act of 2006 (PPA, P.L. 109-280) which relate to distributions after December 31, 2007." (Wolters Kluwer)
[Guidance Overview] Supreme Court Considers Another Case on ERISA Remedies
Excerpt: "Last week, the Supreme Court signaled that it may now address the issue of what constitutes 'equitable relief' under ERISA Section 502(a)(3). The case under consideration is Amschwand v. Spherion Corp., 505 F.3d 342 (5th Cir. 2007)." (Washington Labor, Employment & Employee Benefits Law Blog)
Employers Can Be Liable for Suicides, According to the House of Lords, the United Kingdom's Highest Court
Excerpt: "The House of Lords, the United Kingdom's highest court, has ruled that the widow of a man who committed suicide six years after a workplace accident should be compensated by her husband's former employer. In a landmark ruling, the Law Lords said that Luton, England-based IBC Vehicles Ltd. owed a duty of care to Thomas Corr who suffered a serious head injury while employed by the company and killed himself six years later." (Business Insurance)
[Guidance Overview] Fifth Circuit Says AD&D Plans Exist, Therefore They Are ERISA Plans
Excerpt: "To be ERISA-qualified, a plan must: (1) exist; 5th Circuit Court of Appeals, Per Curium, Read v. Sun Life Assurance, No. 07-10945, March 7, 2008." (Pension Protection Act Blog)
[Guidance Overview] District Court Rules that State's Prohibition of 'Discretionary Clauses' Not Preempted by ERISA (PDF)
2 pages. Excerpt: "On February 29, 2008, a federal judge in Michigan held that ERISA does not preempt regulations issued by the Michigan Office of Financial and Insurance Services ('OFIS') that prohibit insurers from utilizing 'discretionary clauses' in their insurance policies after June 1, 2007. American Council of Life Insurers v. Watters, W.D. Mich., No. 1:07-cv-631." (Sutherland Asbill & Brennan LLP)
[Guidance Overview] Supreme Court Agrees to Hear Case on ERISA's Anti-Alienation Provision (PDF)
2 pages. Excerpt: "The U.S. Supreme Court has agreed to review the question of whether a qualified domestic relations order (QDRO) is the only valid way under ERISA that a former spouse can waive his or her right to receive a death benefit from an employee pension benefit plan. Kennedy v. DuPont Plan Administrator (07-636)" (Sutherland Asbill & Brennan LLP)
Supreme Court Lets Stand Rollover Exemption from Joint and Survivor Rules Decision
Excerpt: "The U.S. Supreme Court declined to review a case in which the 3rd U.S. Circuit Court of Appeals determined a Profit Sharing Plan was not subject to spousal consent requirements of the Employee Retirement Income Security Act (ERISA) just because it was made up of assets from other plans containing qualified joint & survivor annuity requirements." (PLANSPONSOR.com; free registration required)
Employee Benefits Menu Boosted by Mix of Voluntary Options
Excerpt: "More U.S. employers are offering voluntary benefits to their employees for two main reasons: the growing cost of health care, which has led employers to shift costs to voluntary benefits, and the desire to attract and retain employees, experts say." (Workforce Management)
As Paid Benefits Shrink, Businesses Boost Menu of Voluntary Offerings
Excerpt: "Companies rolling out a bevy of benefits, including pet insurance and cheap PCs." (Financial Week)
[Guidance Overview] IRS Issues Form to Report Employer-Owned Life Insurance (PDF)
Excerpt: "For each tax year ending on or after November 14, 2007, every policyholder owning one or more 'employer-owned life insurance contracts' issued after August 17, 2006, must attach Form 8925 to its income tax return." (Sutherland Asbill and Brennan)
Overview: High Court To Take Up Disability Case About Standard of Review
Excerpt: "As MetLife noted in one of its briefs, even 'the [plan participant] concedes that there is a conflict among the circuits over whether the fact that an ERISA administrator is also a plan funder creates a conflict of interest.' . . . 'This is no small matter,' the brief said, noting that MetLife alone processes more than 290,000 disability claims a year, and 'desperately needs a resolution of this issue so that it knows how properly to manage its massive benefits business.'" (National Underwriter)
[Guidance Overview] Who is Entitled to Survivor Benefits from ERISA Plans?
Excerpt: "ERISA pension plans must incorporate the only two ERISA required beneficiary designations, QDROs and spousal survivor benefit designations. Neither statutory designation applies to an ERISA plan that is not a pension plan, such as a life insurance or disability plan. Thus, neither statutory designation may supersede a beneficiary designation made pursuant to the explicit terms of an ERISA life insurance or disability plan." (Social Science Research Network)
Overview: Spouse Beneficiary Rules
Excerpt: "Under the original and final required minimum distribution regulations, the surviving spouse has always had special opportunities. The surviving spouse of a deceased participant may roll the funds into his or her own IRA or to a qualified plan, if the qualified plan accepts rollovers." (McKay Hochman Co., Inc.)
Court Affirms Denial of AD&D Benefits Due to Participant Drug Use
Excerpt: "The U.S. District Court for the Eastern District of Michigan has affirmed an accidental death and dismemberment (AD&D) plan administrator's decision to deny benefits to the spouse of a woman killed in a car accident who was found to have illegal drugs in her system." (PLANSPONSOR.com; free registration required)
Group Life Benefits Waiting Period Could Not Be Imposed Retroactively As Clerical Error
Excerpt: "From Spencer's Benefits Reports: An insurance company could not deny a beneficiary's claim for group term life insurance benefits under a 180-day waiting period provision that was not included in either the plan document or the summary plan description (SPD). This was the ruling of the Fourth Circuit U.S. Court of Appeals in Blackshear v. Reliance Standard Life Insurance Company (No. 06-2126)." (Wolters Kluwer Financial Services)
Tougher COLI Restrictions Explored
Excerpt: "Corporate-owned life insurance would face new restrictions under a bill sitting in a House subcommittee." (Investment News; free registration required)
Many Advisers and Employers Give Group Life and Other Ancillary Products Short Shrift
Excerpt: "Employers and advisers don't always take a proactive approach to educating employees about their life insurance needs and providing meaningful entry points to increase their coverage, experts observe. Although health plans have claims data to rely on to know when and how to target new parents, life insurers have it a little tougher. However, says, Gemus, 'To the point an employer is willing to share demographic information with us, we can reach out to employees as these types of life events are happening.'" (Employee Benefit Advisor; free registration required)
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