Life Insurance News Articles

Even the most powerful man in the world can benefit from insurance, though Barack Obama's latest policy was particularly unusual.

While visiting Australia, the US President received a £6.40 gift from the Chief Minister of the Northern Territory: a crocodile insurance policy. In the unlikely event that Obama was attacked and eaten by a crocodile, the policy would have paid out around $30,000 to his wife and children. Fortunately that didn't happen and the policy Full Story

A British man has been arrested for allegedly faking his own death in a life insurance scam. Hugo Sanchez's claim fell apart when police reportedly found his fingerprints on his own death certificate.

Sanchez's wife reported his death in 2005, supposedly as the result of a heart attack while on holiday in Ecuador; the story was that as he had been born in the country, she chose to bury him there.

Sanchez had several life insurance policies, one of which paid out Full Story

The Co-operative is to stop selling life insurance, blaming the move on increased regulation.

The group, which has been selling the product since the 19th century, has an estimated two million policyholders. It's looking to sell those policies to a new provider, with Royal London reported to be the main bidder.

The Co-op will continue to offer other insurance products and run banking services. However, it will no longer offer financial advice and has done a deal with AXA Full Story

An African multinational mobile phone provider has launched a service that lets people in Ghana without bank accounts buy life insurance using their mobile phone.

The service doesn't simply involve setting up the deal, which can be done by a text-message menu system or by phoning a call center. Instead the premiums for the policy are charged to the mobile phone account itself.

Full Story

A price comparison site says seven percent of people spend more on coffee than on life insurance. It's a creative way of highlighting an issue, though not necessarily representative.

According to Confused.com life insurance, only 40% of adults have life cover, while 30% specifically say they consider it too expensive. Confused.com noted that life cover can start at 17p a day which Full Story

Almost half of mortgage-holders do not have a life insurance policy to cover their contributions in the event of their death. It appears to be the result of tightened wallets, but may be a false economy.

Sainsbury's Life Insurance estimates that 7.1 million people are in such a position. Between them they owe a total of £320 billion, a figure that's up 47% since 2006. One possible Full Story

Giving up smoking certainly saves money on buying cigarettes, but the potential savings are even greater when it comes to insurance, one company claims.

Moneysupermarket.com calculated the potential savings to mark the third anniversary of the ban on smoking in indoor public places. It found that a typical 30 year old man would have saved more £10,000 having quit smoking at that point: £4,190 Full Story

The Post Office over 50s life insurance policy is now available with instant cover over the counter at all UK Post Office branches without needing to wait for an application to be processed.

The Over 50s Life Cover plan is guaranteed for all UK residents aged between 50 and 80 with no medical questions or checks required. Customers are able to choose how much cover they want with Full Story

The Post Office has scooped the 'Best Life Insurance Provider' award at the Your Money Direct Awards for 2008. The 'Best Online Life Insurance Provider' award went to Liverpool Victoria.

The awards, which are run by Your Money Magazine annually, aim to recognise and reward excellence in both online and direct financial services provision.

The Post Office launched Full Story

A recent survey commissioned by Legal and General life insurance has revealed that Brit's could be neglecting to protect themselves financially because they over-estimate the cost of life cover.

Legal & General is concerned that people might avoid taking out protection because consider it is too expensive. The survey showed that 65% of thosed polled over-estimated the cost of a Full Story