In life insurance

Life Insurance is Not for Saving - The Belle Curve

Stop buying life insurance as a savings strategy. Stop buying it as a tax-deferral vehicle for retirement savings. Stop spending thousands of dollars a month on life insurance premiums, at least until you read the rest of this post. Life insurance is not a retirement savings strategy. Why do we buy life insurance? A person should buy life insurance, generally speaking, for one reason: because there will be a financial impact on his business or family were they to die. – Jonathan Novy, Investment Advisor at Ritholtz Wealth Typically, your insurance need is high early in life, when you have many working years ahead. The insurance need declines over time, ultimately reducing to zero at...

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Wearable Technology in Life Insurance: Gadget or Gimmick?

Wearable Technology in Life Insurance: Gadget or Gimmick? New wearable tech holds great promise to revolutionize the life insurance industry The ever-growing list of opportunities to use wearable technology in the insurance industry can sound more like a 1980s infomercial than a key tool to usher the life insurance industry into the digital age. The surface benefits are clear; wearables can serve as: A non-invasive underwriting evidence source – gathering metrics to assess risk in less time than a full medical exam. A tool to improve in-force management – helping insureds maintain a healthy lifestyle and reduce lapse experience. A consumer engagement opportunity –...

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The Power of the Life Insurance Incontestability Clause

Is the Insurance Company Withholding Benefits from You? The incontestability clause in life insurance policies is one of the strongest protections for a policyholder or beneficiary. While many other legal rules for insurance seem to favor the insurance companies, this rule is soundly on the side of the consumer. Remember that life insurance is a form of contract between two parties: the insurance company, and the policyholder. Now, a conventional rule for contracts says that, if one party has given false or incomplete information that the other party relied on when making the contract, then the second party has the right to void, or cancel, the agreement later on. That party can claim that...

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Certificate IV in Life Insurance, Claims

Course overview The FNS41515 Certificate IV in Life Insurance – Claims stream is for people who already work or want to work in the life insurance industry. The Claims stream has been developed for claims assessor and case manager job roles. It includes an introduction to legislation, life insurance products and services, risk, underwriting, claims and the skills to work well with clients. Subject information Upon successful completion of this qualification, students should be able to: apply legislation, regulation and procedures to life claims job roles identify life insurance products and services and who they are suitable for understand the concepts of life risk and...

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Machine Learning Artificial Intelligence in Life Insurance

Machine learning and artificial intelligence are hot topics right now – and for good reason. Machine learning (ML) and artificial intelligence (AI) are unlocking new insights, capabilities, efficiencies, and opportunities across industries and sectors. Life insurance is no exception. Getting a grasp of what it is and how it can impact life insurance is critical to rethink challenges, spot solutions, and adapt in a changing industry. What is Artificial Intelligence? ML and AI are often used interchangeably but they are not the same thing. AI is the development of systems to replicate human intelligence (Forbes). It typically uses algorithms to decide the best course of action. Machine...

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