Ryan Pinney of Pinney Insurance Center to Speak in Support of Senate Bill SB281

Ryan Pinney of Pinney Insurance Center speaks to the California State Assembly in support of passing Senate Bill SB281. The bill authorizes an accessible accelerated death benefit on life insurance policies.
By: Pinney Insurance
ROSEVILLE, Calif. - Aug. 6, 2013 - PRLog -- Ryan Pinney of Pinney Insurance Center, Inc. to Speak to California State Assembly in Support of Senate Bill SB281

ROSEVILLE, Calif.—Ryan Pinney, Vice President of Brokerage Sales for Pinney Insurance Center, Inc., will be speaking in front of the Assembly Insurance Committee on the morning of Wednesday, August 7, 2013 in support for the passing of Senate Bill SB281.

The bill authorizes the attachment of “accelerated death benefits” to life insurance policies purchased in the state of California. The feature, if passed, will allow policyholders diagnosed with chronic illness the opportunity to access the death benefit of their life insurance policy in advance of death.

“Individual consumers who own these policies will be able to access a portion or even all of their death benefits prior to death to take care of final expenses, pay for medical bills, or maintain their standard of living,” Pinney said when asked about the importance of this product. “It allows them to access money when they need it most, for example, when the insured develops specified catastrophic conditions, such as a life-threatening medical condition or long-term chronic illness.”

The products will come with certain restrictions, such as a fixed benefit payment amount as well as specific qualification standards that must be met by the insured.  There are no restrictions on what the accelerated death benefit funds may be used for including long-term care, medical costs, and everyday living expenses.

“People are looking to get more and more for their dollar these days, and basically what this does is it makes life insurance more flexible,” added Pinney. “Having that additional financial security, that double duty, it allows for dollars they’re already spending for life insurance to do even more.”

If California passes this bill, it will become the 43rd state to allow the accelerated death benefit option.


About Pinney Insurance Center, Inc.
Pinney Insurance Center, based in Roseville, California, is a leading provider of products, tools and services that focus on the life insurance and financial services markets. Pinney Insurance, through their Pinney Platform Solutions models, offer financial professionals results-orientated tools and services that bridge the gaps keeping organizations and individuals from effectively and efficiently offering insurance products.

About Ryan Pinney
Ryan Pinney, VP Sales & Marketing for Pinney Insurance Center, Inc., is an author, speaker, and regular contributor to financial publications.  As an advocate of personal financial growth, education, and consumer protection, he is a member of the National Association of Insurance and Financial Advisors (NAIFA) and is a 5-time Top of the Table qualifying member of the Million Dollar Round Table (MDRT).  He currently serves as the Immediate Past President of NAIFA Northern California and as a member of the MDRT Member Communications Committee and NAIFA California’s Social Media Task Force.  He believes that insurance agents should be ethical and work toward solutions based on our clients’ needs and that the financial industry should change for the better, and that change starts with him.

Nick Houser
Pinney Insurance Center, Inc.
Email:***@pinneyinsurance.com Email Verified
Tags:Life Insurance, California State Assembly, Senate Bill SB281, Death Benefit
Industry:Insurance, Financial
Location:Roseville - California - United States
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