MassMutual Expands Covid-19 Free Life Insurance Program Nationwide
To support those frontline health-care workers affected by the coronavirus, Massachusetts Mutual Life Insurance Company (MassMutual) has announced the nationwide expansion of its HealthBridge program, which provides eligible health-care workers at licensed health-care facilities with free three-year term life insurance policies. These guaranteed-issue policies will be paid to trusts in the name of designated beneficiaries for up to $25,000 in the event of a policyholder’s death.
Previously, HealthBridge was only available in MassMutual’s home states, as well as those hardest hit by the pandemic. It will now be available to health-care workers nationwide.
MassMutual is headquartered in Springfield, Mass.
Real Intelligence Launches Risk Management Projection App
Real Intelligence LLC, a financial technology and service company headquartered in Fairfield, Conn., has launched an app called Dynamic Map that allows wealth managers to reduce their clients’ investment risk.
Jeff Mount, the company’s founder and CEO, says risk management means being able to adapt to unexpected crises like the current Covid-19 pandemic. The new app can project the effect of a range of possible risks on a client’s portfolio.
Dynamic Map acts as an intuitive financial calculator, enabling strategic decision-making by immediately displaying the consequences of investment decisions. Although the app is not a full financial plan, it executes complex calculations and delivers the result in a manner that is easily understood.
The app is currently available on the iPad and Samsung (Android) tablets. A mobile app is scheduled for release on August 7 and will be available in the Apple app store and the Google Play Store.
Palladiem Introduces Two New Direct Indexes
Palladiem LLC, an investment management firm headquartered in Wayne, Pa., has launched two new direct indexes in partnership with IDX Insights in Scottsdale, Ariz. One is the Risk Managed Gold Index (GRIN). The other is the Crypto Opportunity Index (COIN). These are available as separately managed portfolios.
The strategies are designed to provide diversification away from equities and bonds and also to blunt the downside risk of holding gold and cryptocurrencies in long-only positions.
Seton Hall Debuts Fintech Major For Undergrads
The Department of Finance at the Stillman School of Business at Seton Hall University in South Orange, N.J., has launched a finance and technology major for undergraduates.
Students studying finance now have three areas from which to select their major: finance; mathematical finance; and finance and technology, often referred to as “fintech.”
The curriculum includes 24 credits with courses such as Technology of Finance; Financial Strategy; Business Intelligence; Business Applications of Machine Learning; Financial Modeling; Business Information Modeling; Portfolio Analysis; Introduction to Programming; Advanced Software Tools; and Corporate Risk Management.
For further information on the program, visit www.shu.edu.
Wealthspire Unveils Outsourced CIO Services For RIA
Wealthspire Advisors has launched a CIO service for RIAs serving sophisticated clients.
The “outsourced CIO” service will allow smaller advisor firms to engage Wealthspire Advisors for customized investment services, including due diligence, investment product selection and other forms of case support, the company said.
Clients of the service will receive a customized suite of research support based on their goals and needs. They will also have access to key tools, including routinely updated model portfolios, capital market assumptions, manager due diligence, and case support for large clients and prospects.
Clients will also have the support of investment team members with specialized expertise in equities, fixed income, alternative strategies and the legal structure of investment vehicles (whether they are funds, separately managed accounts, etc.). There will also be investment commentaries, reports and time-sensitive market updates and content.
Wealthspire, headquartered in New York City, is an independent registered investment advisor with 12 offices in eight states throughout the East Coast and Midwest.
HealthSavings Partners With eHealth To Serve Medicare Customers
HealthSavings Administrators, a health savings account (HSA) provider based in Richmond, Va., has partnered with eHealth Inc., an online health insurance marketplace serving the needs of Medicare-eligible consumers nationwide.
Through the partnership, HealthSavings members qualifying for Medicare will have easy access to plan comparison tools and telephone support from eHealth’s licensed Medicare agents while shopping from a broad selection of leading, brand-name Medicare Advantage, Medicare Supplement and Medicare Part D prescription drug plans, the companies said.
eHealth is headquartered in Santa Clara, Calif.