life insurance

Iowa woman fakes neighbor’s death for life insurance: feds

Now the 37-year-old Iowa woman has been sentenced to prison, authorities said.

Now the 37-year-old Iowa woman has been sentenced to prison, authorities said.

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A woman secretly added herself to her neighbor’s life insurance policy, then faked the Iowa neighbor’s death so she could steal death benefits, authorities said.

Kimberly Nicole Hollingshed, of Muscatine, fraudulently received about $100,139 from the life insurance company in April 2022, according to a March 9 news release from the U.S. Attorney’s Office for the Southern District of Iowa.

She used that money to buy a 2014 Buick Encore, a 2008 Jeep Liberty and a 2008 Hummer H3, according to Hollingshed’s plea agreement that she signed in November.

Now the 37-year-old woman has been sentenced to 24 months in prison on a count of wire fraud, court records show.

The defense attorney representing Hollingshed did not immediately respond to a request for comment from McClatchy News on March 10.

Federal authorities said Hollingshed accessed the neighbor’s life insurance policy in February 2022, then she added an online profile without her neighbor’s permission.

“With online account access, Hollingshed made changes to the victim’s policy and added herself as a policy beneficiary,” officials said.

Once Hollingshed was listed as a beneficiary, in April, authorities said she told the life insurance company that her neighbor died and started the process to claim her death benefits.

The insurance company required a copy of the woman’s death certificate before processing the claim, according to the plea agreement.

As her neighbor hadn’t actually died, the woman provided a forged Iowa certificate of death, prosecutors said. She started with a real death certificate belonging to a 96-year-old Iowa woman who died in 2017, but changed the name, cause of death, location of death and other details, according to court records.

The insurance company processed the claim, and the money was deposited into

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Christine Cupitt wants to reframe the life insurance sector as Council of Australian Life Insurers chief

Life insurers also took “important steps” during the pandemic that were “worth revisiting”, Mr Cupitt said, pointing to commitments that COVID-19 vaccines would not affect policy terms and conditions.

But she admitted the story of life insurance’s social role had not been well-articulated in the past – a common complaint among the industry executives who led the establishment of a standalone lobby group.

She said the sector had been focused on complying with a raft of new rules and regulations, after the royal commission made 15 recommendations relating to insurance, including a ban on so-called “hawking” of insurance products and reclassification of “claims handling” as a financial service.

It had also been distracted by significant consolidation, including TAL’s acquisition of Westpac’s BT Life business and Zurich’s purchase of ANZ’s OnePath life insurance business as the major banks quit the sector.

Recruitment drive

“We’ve now got to a point where those regulatory reforms are embedded, the code [of conduct] is being implemented, a lot of M&A activity has settled down,” she said. “We have the opportunity now to work with a new government to explain the role and value of life insurance.”

To achieve that, the CALI board – co-chaired by TAL chief Brett Clark and AIA Australia chief Damien Mu – has been on a spending spree, recruiting Ms Cupitt last year and Keely O’Brien, a former adviser to former prime minister Julia Gillard, as general manager of corporate affairs.

The Australian Financial Review has confirmed former Westpac head of government affairs Michael Johnston and Financial Planning Association policy chief Ben Marshan are also joining CALI in key roles.

Ms Cupitt said her priority was to make sure Australians had sufficient insurance cover in place, after research suggested this was not the case.

She said she wanted to

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How Tech Is Breathing New Life Into Life Insurance

What You Need to Know

  • Completing post-death processes can take a life insurance beneficiary an average of about 420 hours.
  • Families need logistical support.
  • They also need emotional support.

The life insurance industry offers more than just policies: Carriers also strive to provide their customers with comfort, stability, and peace of mind.

When someone buys life insurance, they do so trusting that the insurer will be present and involved in fulfilling the promise of the policy by distributing the money responsibly.

On top of this, in our digital age, consumers expect instant, seamless services that provide comprehensive support beyond the payout.

Fortunately, several technology companies have emerged to help insurance companies embrace — and even benefit from — the digital era.

That’s critical at a time when, along with trust and stability, customers are seeking an improved experience from every product or service they purchase.

To offer an elevated customer experience, insurance companies must be willing to embrace cutting-edge technologies that will allow them to adjust to changing consumer expectations.

Streamlining Complicated Processes

By embracing emerging innovations in areas of life insurance that can easily benefit from new technologies, such as onboarding and payouts, life insurance companies can increase customer satisfaction while also optimizing their own operations.

It’s a true win-win proposition that can streamline underwriting and claims services while fostering connectivity and bolstering the data-sharing needed to provide more tailored policies.

Digital-era models of life insurance are already being used to leverage automation for more convenient registration, enabling customers to complete complex processes without becoming overwhelmed by the bureaucratic labyrinth of it all.

Insurtech companies like Lemonade were, in fact, built around customers’ modern-day expectations of once-sluggish processes such as registration and onboarding. These tech-turned-insurance companies leverage technology to allow customers to apply, get approved, and begin onboarding for

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How seniors can find the best no-exam life insurance

No-exam life insurance can provide coverage to seniors who might not otherwise qualify. 

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If you’re a senior, it’s not too late to get life insurance. Life insurance has many benefits for older adults, including covering end-of-life expenses, providing an inheritance for loved ones and giving you access to cash you can tap into while you’re alive (if you get a whole life policy).

No-exam life insurance is often best for seniors because they tend to have more health issues than younger people. Policies requiring a medical exam account for everything from your vital signs to pre-existing conditions (like heart problems or diabetes) when determining how risky you are to insure. The riskier you’re considered, the higher your premiums will be and the more likely you are to be denied a policy altogether.

No-exam life insurance is generally more expensive than other policies, but it essentially guarantees you’ll be covered. As an added perk, the approval process is simpler and faster because there are fewer steps. You might even be approved the same day you apply.

Start your search for a life insurance policy by getting a free price quote now or using the map below.

How seniors can find the best no-exam life insurance

To find the best no-exam policy for your needs, take the following steps:

1. Identify your goals

Pinpointing why you’re getting life insurance can help you zero in on the best policy. Your reasons might include:

  • Paying off outstanding debt, like a mortgage
  • Covering the cost of your funeral
  • Leaving an inheritance for your children and grandchildren

Identify what you want life insurance for so you know what type of policy to choose and how much coverage you’ll need. The more accurate your estimate, the likelier you are to ask only for the

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Is Life Insurance Taxable? Here’s Everything To Know.

As people grow older, life insurance is a topic that becomes more and more important, especially for people who have children or dependents. Life insurance is a method for helping the security of others once someone dies.

Some fast facts about life insurance includes:

  • Approximately 172 million Americans own life insurance.
  • 34% of Americans ages 18 to 24 report they own a life insurance policy.
  • 46% of Americans ages 25 to 44 have a life insurance policy.
  • 53% of Americans ages 45 to 64 have a life insurance policy.
  • 57% of Americans ages 65 and older have a life insurance policy.

With so many people holding life insurance policies, you might wonder: Is life insurance taxable? Read on to find out.

What is life insurance?

Life insurance is a contract between a policyholder and an insurance company through which the policy owner agrees to pay a designated beneficiary a sum of money in exchange for a life insurance premium upon the insured’s death.

Life insurance is an insurance product meant to provide financial security to that beneficiary after the policyholder passes away to help cover expenses such as funeral costs, outstanding debts and other living expenses. The amount of life insurance a person needs will depend on several factors, including income, debt and dependents.

Related: Busy Parents: Sign up for Life Insurance with This Speedy Provider

What makes a strong life insurance policy?

Several factors contribute to a strong life insurance policy, including:

  • Coverage amount: The policyholder should choose an adequate amount for their loved ones’ financial needs. When deciding upon coverage, the policyholder should consider the cost of living, funeral costs, outstanding debts and future expenses like college tuition.
  • Policy type: A policy should always meet the insured person’s needs. For example, if they want affordable coverage for a
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Experts Suggest Buying Multiple Life Insurance Policies

Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our partners, however, our opinions are our own. Terms apply to offers listed on this page.

  • Not only can you have multiple life insurance policies, but you can purchase multiple at once.
  • Buying 20-year coverage and 30-year coverage at the same time can help as your savings grow.
  • Adding a 20-year policy whenever you have a child means it will last until they’re an adult.

While many believe each person can only have one life insurance policy (and one death benefit) in place, this common misconception couldn’t be further from the truth. Not only can you have multiple life insurance policies on yourself or your spouse or partner, but insurance agents maintain there are instances when you should have more than one policy.

This means you can keep whatever life insurance you have and still buy more coverage if you feel you need it. Heck, you can even purchase multiple life insurance policies at once. I talked to some life insurance experts to find out when it makes sense for individuals to have several life insurance policies.

See Insider’s picks for the best life insurance companies »

Buying life insurance to supplement workplace coverage

Steve Sanders, who serves as the senior vice president of life distribution at F&G, says that workplace life insurance coverage can be a great benefit to employees. However, it shouldn’t necessarily be the only coverage workers have in place.

For starters, Sanders says the total death benefit of workplace coverage tends to be limited

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Nearly half of US consumers shop for life insurance online, undermining agents

Businessman holding and giving insurance and assurance icon including family health real estate car and financial for risk management concept.

Dilok Klaisataporn

The broad insurance industry is increasingly implementing digitalization to meet consumer expectations, as more than 40% of US consumers last year went online or used an app when scouting for life insurance products, according to a recent TransUnion (

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Bought a New Life Insurance Policy? Make Sure Your Beneficiaries Have This Information

Two parents with their young children having lunch at a picnic table on their back deck.

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Give your loved ones everything they’ll need in the event of your death.

Key points

  • Life insurance provides financial help for your loved ones after your death.
  • It’ll be up to your beneficiaries to contact the insurer to get their payout.
  • Ensure they have everything they need, including the policy number and how the policy will be paid out.

The beginning of a new year is a good time to sit down with your budget, banking information, and all the facets of your financial life. If you don’t already have “life insurance coverage review” on your list, it pays to add it. After all, life insurance is essential if you have anyone depending on your income or services you provide (such as childcare, if you’re a stay-at-home parent).

If your old life insurance plan isn’t cutting it anymore (say, because you’ve recently become a parent, or will be soon, or have started a new business venture and have a business partner depending on you), it’s time to check out your options and sign up for a new one. Part of signing up for life insurance is naming a beneficiary (or beneficiaries).

Your beneficiaries are the recipients of the death benefit for your policy. It’s important to note that you will not override life insurance beneficiary designs, so it’s vitally important that your insurance is set up to benefit the right people. Your insurance company may not find out that you’ve passed away, and so it’ll be up to your beneficiaries to notify the company. Read on for the essential information they’ll need before they make that phone call.

Death certificate

First and foremost, your beneficiaries will need a death certificate so they can show the insurer that you’ve passed on. This isn’t something you’ll be

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Insurance company won’t pay beneficiaries of Omaha man killed months after he shot a man

A lawsuit now in federal court poses a question: Is a life insurance company required to pay out proceeds in the case of a man who died in a suspected gang-related killing and who was accused of a previous killing?

A Canada-based insurance company, International Order of Foresters, has refused to pay on a $100,000 life insurance policy that was taken out on behalf of Goa Dat of Omaha. In turn, Dat’s brother, Det Dat, and his mother, Thokat Kuoth — the beneficiaries of the policy — have filed a lawsuit.

The reason for Foresters’ refusal is unclear. Brent Bloom, an attorney for Det Dat and Kuoth, could not be reached late last week.

Goa Dat had a checkered history before he was shot to death at age 24 while traveling on US Highway 77 in Lincoln on Oct. 30, 2021.

Goa Dat’s friend Mabior Mabior was convicted and sentenced to life in prison for the March 27, 2021, killing of two Sudanese men, LokLok Thok, 27, and Duop Tang Deng, 24, near 24th and Emmet Streets. Testimony at Mabior’s trial indicated that Mabior and Goa Dat were together at that location when Mabior and Thok got into an argument. Thok’s major shot during the argument, then chased down Deng and shot him to eliminate a witness.

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After Thok collapsed on the street, prosecutors said, Goa Dat walked up to Thok, stood over him and fired into his head.

Seven months passed. About 3 am Oct. 30, 2021, Dat and another man, Felix Yata, were driving on US Highway 77, between Rosa Parks Way and West A Street in south Lincoln. Someone fired into their car, hitting both Dat and Yata. Yata survived. Dat died from his wounds at the hospital a few days later.


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With rising inflation, fill the gap with life insurance, analysts say [Video]

Inflation has increased budget costs for most Americans, which should be taken into consideration when evaluating life insurance coverage.

Being underinsured means that loved ones wouldn’t be able to cover expenses incurring debt or maybe loss of the family home.

“Life insurance helps provide resources to cover in the event of an untimely death…to care for and support families,” Sandi Bragar, chief client officer and partner at Aspiriant, told Yahoo Finance Live (video above). “In this rising inflation environment, those costs have gotten a lot higher and because there’s a gap, we’re filling it with life insurance.”

Senior couple paying bills inside the house

Credit: Getty Images

The rule of thumb is to have 10 times your annual income in life insurance, according to non-profit insurance Life Happensto cover expenses beyond the funeral like housing, mortgage, childcare, health care, and education, so your family won’t go into debt.

Because the costs of food, gas, and housing have increased, consumers should evaluate their life insurance coverage to make sure it is enough, which is why, while 10 times your salary is recommended, your coverage amount should increase with the cost of living.

Some financial planners recommend a combination of term life and permanent life insurance policies. Because term life insurance expires, a permanent life insurance policy offers lifetime coverage and earns cash value that can be used during the policyholder’s lifetime in the form of a loans or withdrawals.

More Americans are tapping their permanent life insurance policies to help them weather inflation and avoid drawing on retirement accounts battered by the stock market’s volatility this year.

“You want to look at all the different types of policies that are out there and find the one that best fits your needs,” Bragar said. “One thing we like to do with clients is stack life insurance policies.

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