http://www.gloriaferris.net/2006/10/and-so-i-opined/ one woman’s view from a place by the zoo in the city Wed, 25 Jan 2012 07:37:06 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.gloriaferris.net/2006/10/and-so-i-opined/comment-page-1/#comment-168 Tim Ferris Thu, 05 Oct 2006 17:26:49 +0000 http://www.gloriaferris.net/2006/10/and-so-i-opined/#comment-168 A recent issue of InvestmentNews (a Crain's publication) defined the middle class/middle market as being households with annual income between $35,000 and $88,000. The point of the article was that insurance companies are refocusing on the middle market because they have no savings, no equity, lots of debt, and need insurance to create an estate. The companies mentioned--New York Life, Guardian, and Hartford, I think--are making the products cheaper using new mortality assumptions to make it possible for more people to buy more benefit. It's like being back in the old days of selling life insurance. Guardian's product is Whole Life Paid Up at 121--hitherto, similar products were paid up in 20 years, then at ages 65 and 70, then at ages 85 and 88, and then at ages 96 and 100. A recent issue of InvestmentNews (a Crain’s publication) defined the middle class/middle market as being households with annual income between $35,000 and $88,000. The point of the article was that insurance companies are refocusing on the middle market because they have no savings, no equity, lots of debt, and need insurance to create an estate. The companies mentioned–New York Life, Guardian, and Hartford, I think–are making the products cheaper using new mortality assumptions to make it possible for more people to buy more benefit. It’s like being back in the old days of selling life insurance. Guardian’s product is Whole Life Paid Up at 121–hitherto, similar products were paid up in 20 years, then at ages 65 and 70, then at ages 85 and 88, and then at ages 96 and 100.

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