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Insurance Policies

October 19, 1990
I read with interest your editorial "How to Make a Financial Killing" (Oct. 8). Gang violence is a tragedy that touches us all. Your newspaper reports almost daily on the unfortunate problem and its toll. Your editorial makes many important points. In commenting on insurance salespeople who use (and abuse) the natural fears of people living in crime-torn neighborhoods to sell low-cost policies, you observe that the public should aim its disgust at the gang problem rather than a few "brazen insurance salesmen."
April 17, 2014 | By Howard Blume
An embattled South Bay school district leader, under investigation for his high compensation, now has a new issue to deal with: insurance premiums that should have been counted as taxable income, but were not. The Centinela Valley Union High School District is being investigated by federal and state authorities for paying Supt. Jose Fernandez $674,559 last year - a figure derived from Fernandez's own calculations. Now, it turns out that he mistakenly understated his taxable earnings.
Q. I have AIDS and am thinking of selling my individual and group life insurance policies to generate money on which to live comfortably for the rest of my life. What kind of taxes will I have to pay on the money I get from these policies?-- M.W . A. As more and more people with life-threatening illnesses seek to cash in their life insurance policies to raise cash to see them through their final days, an entire industry has sprung up around these so-called viatical settlements.
April 6, 2014 | By Lisa Zamosky
Now that open enrollment under the Affordable Care Act is over for this year, healthcare consumers can begin to put their insurance policies to work. For many, it may be a challenge. A year ago, Norm Wilkinson, 61, retired after 35 years as a Teamster and signed on to a retiree health plan. He figured he'd enjoy the same comprehensive coverage he'd had for years, but soon learned that prescription drugs weren't covered. "I did not get a prescription drug plan with it, and that was the big killer," said Wilkinson, a resident of Whittier.
July 18, 1991
In response to several expensive losses from lawsuits filed against the city, Torrance has beefed up its liability protection and has voted to issue a $3-million bond to replenish the reserves depleted by those losses. The Torrance City Council on Tuesday voted to purchase a new insurance policy covering liability losses up to $5 million, with a deductible of $2 million.
July 28, 1991 | KATHY M. KRISTOF
Insurers, regulators and agents complain that unscrupulous insurance salespeople are using worries about life insurance company failures to persuade consumers to trade in their current insurance policies for new ones. These exchanges benefit insurance agents because they earn commissions on each new life insurance policy sold. And generally speaking, agents get more money for writing new business than for maintaining old business. Occasionally, consumers also benefit by switching their policies.
June 3, 1997 | (Bloomberg News)
Charles Schwab Corp. wants to sell insurance like it sells stocks, bonds and mutual funds--no frills, low commissions. Charles Schwab, chairman and founder of the San Francisco-based discount brokerage, said his company sees an opportunity because the insurance industry has a "vulnerability." Said Schwab: "Old-fashioned insurance has been done by highly compensated sales systems. We're not a part of that." Test-marketing efforts began last year with Englewood, Colo.
March 9, 2000 | From the Washington Post
Before the Civil War, the corporate ancestor of insurance giant Aetna Inc. sold policies that reimbursed slave owners for financial losses when their human chattel perished, a company spokesman said Wednesday. Aetna, prompted by a New York activist who challenged the company to reveal details from its history, is studying the sale of such policies and considering "a meaningful way to demonstrate" its commitment to diversity, said spokesman Fred Laberge.
February 11, 1989
The Travelers group of insurance companies Friday asked the California Supreme Court to overturn an order issued last week by state Insurance Commissioner Roxani Gillespie requiring it to renew about 22,000 car insurance policies in California.
October 19, 1993 | From Associated Press
Some insurance policies that consumer advocates say you might want to avoid: * Flight insurance. Dependents need protection from the economic consequences of your death from any cause, not just an air crash. That comprehensive coverage comes from a basic life insurance policy. Besides, says J. Robert Hunter, president of the National Insurance Consumer Organization, "you're more likely to slip and fall in the bathtub than die in a plane crash." * Life insurance on children.
March 6, 2014 | By Veronica Rocha
A Glendale man accused of killing his estranged boyfriend  to collect on his life insurance policy was ordered to stand trial Wednesday on murder charges. Los Angeles County Superior Court Judge Hayden Zacky ruled that sufficient evidence was presented during a three-day preliminary hearing to move forward with a trial against Hovanes Maskovian, 34, as well his brother Hachik “Kriss” Maskovian, 29, and a friend, 20-year-old Nazaret “Nick” Bayamdzhyan, the Glendale News-Press reported . “I think I am convinced as to what occurred,” Zacky said in a San Fernando courtroom.
March 5, 2014 | By Noam N. Levey
WASHINGTON - The Obama administration announced Wednesday that some Americans with health insurance policies that don't meet consumer standards set by the president's new healthcare law would be allowed to keep their plans into 2017, three years later than originally envisioned. The delay, which could put off the final cancellation of some health plans until after President Obama leaves office, may have limited practical impact. Senior administration officials, briefing reporters on condition of anonymity, said they believed that only about 1.5 million consumers nationwide currently were covered under such plans, about 500,000 of which were purchased by individuals and the rest by small businesses.
February 17, 2014 | By The Times editorial board
The sprawling 2010 Affordable Care Act has proved so hard to implement that the Obama administration has delayed or waived multiple provisions of the law in the hope of avoiding even more breakdowns and confusion. Last week the administration put off for another year the requirement that larger employers provide coverage for some or all of their workers. It's also reportedly considering a longer delay in implementing the law's minimum standards for insurance policies. Although the administration may have the right motives, its aggressive use of executive power to change deadlines and weaken requirements sets an unwelcome precedent.
January 30, 2014 | By Chad Terhune
Thousands of Anthem Blue Cross individual customers with older insurance policies untouched by Obamacare are getting some jarring news: Their premiums are going up as much as 25%. These increases, 16% on average, are slated to go into effect April 1 for up to 306,000 people - unless California regulators persuade the state's largest for-profit health insurer to back down. Amid the fury last fall over canceled health policies, consumer advocates and state officials warned people that holding onto grandfathered policies purchased before the federal healthcare law was enacted in 2010 wouldn't shield them from significant rate hikes.
December 10, 2013 | By David Lauter
WASHINGTON -- President Obama can't yet claim to have turned a corner, but he does seem to have stopped a politically damaging slide in public approval for himself and his new healthcare law, new polling data indicate. After seven months of steady decline, public approval of Obama's job performance has ticked upward, according to a new Pew Research Center  survey . The poll finds 45% of Americans approve of Obama's work and 49% disapprove. That's the highest approval and closest margin since mid-summer, when the president's ratings first turned negative.
December 1, 2013 | By Noam N. Levey and Lisa Mascaro
WASHINGTON - The Obama administration said Sunday it had met its deadline to fix the major problems that have hobbled the federal healthcare website since its disastrous debut two months ago, but officials acknowledged that further repairs were necessary. Reporting on its attempts to improve the portal, officials said that Web pages on the site now loaded in less than one second, down from eight seconds in late October. The system now operates more than 90% of the time, up from 40% during some weeks in October.
August 24, 1997
Perhaps the worst thing policyholders can say about their insurance company is that, well, it acts like an insurance company. Although it's been 3 1/2 years since the Northridge earthquake damaged wide swaths of the San Fernando Valley and the rest of Southern California, hundreds of residents continue to bicker with their insurers over claims that have either fallen through the cracks, been rejected on technicalities or intentionally ignored.
July 19, 2013 | By Donie Vanitzian
Question: I've been president of our homeowners association for several years. We have fewer than 20 units and have managed to keep our HOA dues low at around $330 a month, mainly because we don't have earthquake insurance. We've saved a lot of money because we haven't paid for earthquake insurance for more than 15 years and have been very lucky. Do we have to get it? Answer: With one earthquake, your luck may run out. However, after 15 years of savings, and in the best interests of the association, the board should have been depositing those savings in an interest-bearing bank account.
November 25, 2013 | By Steve Dilbeck
Want to know exactly how great it is to be the Dodgers these days? You can afford a $10-million insurance policy. Meet Dan Haren, insurance. And yet more evidence of how polar opposite the Guggenheim Dodgers are from the ones taken into bankruptcy by Frank McCourt. The Dodgers have agreed to terms with Haren on a one-year, $10-million deal. If he passes his physical - probably not as automatic as with most signings - he could become their fifth starter. If he pitches like he did in his last 13 games (6-3, 3.14 ERA, .224 opponents batting average)
November 21, 2013 | By Jon Healey
Defying President Obama, the board of directors for the state's new health insurance exchange, Covered California, voted unanimously Thursday not to allow the 11 insurers that are selling plans on the exchange to revive their canceled policies. Meanwhile, new statistics emerged that shed more light on the people losing their policies and the ones signing up through the exchange. The board's decision not to allow the policies was the right policy decision, no matter how much blowback it generates.
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