MetLife, Inc. (NYSE: MET) announced today that it has completed its acquisition of American Life Insurance Company (Alico) from American International Group, Inc. (AIG) for $16.2 billion.

What is the average monthly cost for life insurance?

$26 a month
The average cost of life insurance is $26 a month. This is based on data provided by Quotacy for a 40-year-old buying a 20-year term life policy, which is the most common term length sold. But life insurance rates can vary dramatically among applicants, insurers and policy types.

What happens if my life insurance company becomes…?

There have been 4 instances in history where Assuris has been involved with insolvencies; Les Coopérants (1992), Sovereign Life (1993), Confederation Life (1994) and Union of Canada Life (2012). In the case of Sovereign Life, 96% were protected with 100% of original benefits, with the remaining 4% receiving at minimum 90% of their benefits.

When was the last time an insurance company went out of business?

U.S. insurance company insolvencies peaked in the early 1990s, with more than 50 companies becoming insolvent in 1992 alone, according to a study by the Society of Actuaries and Canadian Institute of Actuaries. In recent years, that number has been less than 10 annually.

When did Confederation Life Insurance go into liquidation?

Confederation Life was forced into liquidation in 1994, due to not having enough assets to cover policy holders and creditors. At the time, the company had 260,000 individual policyholders in Canada and another 1.5 million people were members of a group insurance plan.

When did sovereign life insurance company take over?

Sovereign Life (1993): On December 21, 1992, the Superintendent of Financial Institutions took control of The Sovereign Life Insurance Company and the court granted a winding-up order.