Moving Past the COVID Chaos: Tips for Your Insurance, Finances, and Business - June 28, 2020

June 28, 2020
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News. Insights. Analysis. Inspiration.

Today's Key Question:

Are you the executor of an estate, or the beneficiary of a life insurance policy or annuity?  A recent court decision has bearing on whose responsibility it is to inform the carrier when the insured or annuitant dies. See the article below from JD Supra.

 

 "Risk Tolerance Lessons from COVID-19"

From Advisor Perspectives:

* The COVID-19 pandemic and accompanying market volatility left some investors panicked and others bewildered. Advisors are getting more calls to discuss portfolio risks and client decisions. This tumultuous environment illustrates why a risk tolerance assessment exercise inspires confidence in clients.

 

 

"Coronavirus Lawsuits Are Coming, Consider These Actions For Asset Protection"

From Wealth Advisor:

* There may come a time when lawsuits are filed against businesses by individuals who contract coronavirus at their establishments. What can business owners do to protect themselves and their families from these kinds of lawsuits? Here are some possible actions to consider:

 

 

"4.3 million homeowners missed their mortgage payments last month"

From CNN:

* The next step following serious non-payment is typically foreclosure. But moratoriums on foreclosure and the forbearance programs, which keep homes from being foreclosed on while homeowners are in the program, mean that foreclosure levels are at record lows -- for now. The share of homeowners in active foreclosure is the lowest it's been since Black Knight began tracking 20 years ago.

 

 

"Companies Should Know When Their Customers Die: Court Rendered Judgment For An Estate Who Was Sued By An Annuity Company For Overpayments"

From JD Supra:

* Principal had an equal opportunity to discover Emily’s death. Principal had internal procedures in place to discover this very type of information. Angela Essick, Principal’s corporate representative, testified that between 2001 and the present, Principal utilized a third-party company and the Social Security Master Index to provide it with a list of names and social security numbers of the deceased on a quarterly basis. Principal would compare these names and social security numbers with those of its annuitants. Principal failed to discover Emily’s death through these channels because it never obtained Emily’s social security number. Principal cannot rely on its internal oversight to claim it did not have an equal opportunity to discover Emily’s death.

Here's a short video from Steve on how you can purchase insurance in these changing times....Watch Here