Life Insurance | featured news

A Long Island man suspected of faking his drowning to collect more than $400000 in life insurance was arrested Wednesday and formally charged with insurance fraud, conspiracy and filing a false report.

A South Carolina mother who told police her son killed three family members and himself has been charged with quadruple murder because she wanted their life insurance money, police said on Tuesday.

States are investigating whether some of America's largest life insurers are failing to ensure that they pay out policies on deceased customers, in a battle that could shift hundreds of millions of dollars to state coffers.

American International Group Inc is expected to name former Prudential Plc Chief Executive Mark Tucker as head of AIA, as it prepares the Asian life insurance unit for an initial public offering, a source familiar with the matter said on Sunday.

The company's situation reflects problems throughout the life insurance industry as investments suffer. Further strain could bring about a second financial crisis.