Readers ask: Who Bought Home Beneficial Life Insurance Company?

American General Corp. announced on Monday an agreement to pay $665 million, or $39 a share, for Home Beneficial Corp., in the latest sign of life-insurance industry consolidation.

Who took over Home Beneficial life insurance Company?

The American General Corporation said yesterday that it had completed its $665 million acquisition of the Home Beneficial Corporation, the holding company of Home Beneficial Life Insurance Company.

Who owns Beneficial Life?

Beneficial Financial was founded in 1905 and is owned by Mormon Church-affiliated Deseret Management Corporation.

What happened to Beneficial Life insurance Company?

SALT LAKE CITY — One of Utah’s best-known life insurance companies delivered bad news to employees Tuesday: Over the next few decades, Beneficial Life plans to slowly get out of the life insurance business, and that means deep job cuts over the next few months.

Who bought out American General life insurance Company?

American International Group Inc. reached an agreement to acquire American General Corp., officially trumping an earlier bid by Britain’s Prudential PLC and tilting the operations of AIG, a property-casualty powerhouse, more toward the life-insurance and retirement-savings business.

Does variable life insurance have a cash value?

Variable life insurance is a permanent life insurance policy with an investment component. The policy has a cash-value account, which is invested in a number of sub-accounts available in the policy.

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Who are beneficiaries?

A beneficiary is the person or entity you name in a life insurance policy to receive the death benefit. You can name: One person. Two or more people.

Is Conseco insurance out of business?

US insurance and finance company Conseco Inc became the third largest bankruptcy in US history last night after filing for protection from its creditors.

Who will buy AIG Life Retirement?

American International Group jumps after it agrees to sell a stake in its life and retirement business to asset management giant Blackstone. American International Group (AIG) – Get American International Group, Inc.

Where was AIG founded?

American General Life Insurance Company was established in 1960. As American General expanded its national presence and added new financial products and services over the years, the company was acquired by American International Group (AIG) in 2001.

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