Standard & Poors Ratings Services today said it withdrew its A long-term insurer financial strength ratings on reinsurance companies SCOR Global Life Rueckversicherung Schweiz AG and SCOR Rueckversicherung (Deutschland) AG.
The withdrawals follow the mergers of SCOR Global Life Rueckversicherung Schweiz AG into SCOR Holding Switzerland (not rated) and SCOR Rueckversicherung (Deutschland) AG into SCOR Global Life SE (A/Positive).
Whole life insurance and term life insurance are two of the most common life insurance types that people are buying. Having said that, there are other conditions that could not well be focused by these two and having that said, two other life insurance types were unveiled in the market the universal life insurance or universal insurance policy and travel life insurance.
Universal life insurance or universal insurance policy can in fact be considered as a mixture of the two common life insurance types, the entire life and term life.
Bloomberg Markets magazine published an investigative article this week accusing life insurers of duping beneficiaries by sending them a checkbook to access their insurance proceeds rather than just sending a check for the full amount of the life policy.
The magazine breathlessly reported that insurers are “secretly” investing the proceeds and making millions off the widows, orphans and fallen soldiers.
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