While life insurance had a slow start this fiscal year due to the pandemic, the demand has seen a pickup on the back of an increase in the need for life insurance among customers. We expect the industry to be able to achieve a flat to slightly positive growth for the entire year if the current trends sustain. The ongoing pandemic has increased the awareness about insurance coverage and the need for protection. Suresh Badami, executive director at HDFC Life, in an interview tells Chirag Madia that the company is planning to launch new product in the protection segment. Edited excerpts: In this financial year till now, the life insurance industry has seen sharp de-growth. How long will it...
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You are here A COUNCIL set up to review the MediShield Life insurance plan has proposed a number of enhancements to ensure that a greater proportion of subsidised bills are covered. Premiums, however, are set to rise; this will be the first adjustment since the scheme's launch in 2015. Over the past four years, MediShield Life paid out S$3.5 billion for 2.3 million claims. Payouts have risen by close to 40 per cent and the number of claimants by almost 30 per cent. Fifteen per cent of the payouts were for around 350,000 claims from those previously uninsured in the past four years. Market observers say policyholders of private Integrated Shield plans (IPs) - which complement MediShield Life...
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Dental Insurance Savings from enrolling in a dental benefits plan will depend on various factors, including the cost of the plan, how often participants visit the dentist and the cost of services rendered. Based on internal analysis by MetLife. Negotiated fees refers to the fees that in-network dentists have agreed to accept as payment in full for covered services, subject to any copayments, deductibles, cost sharing and benefit maximums. Negotiated fees are subject to change. Savings from enrolling in a dental benefits plan featuring the MetLife Preferred Dentist Program will depend on various factors, including the cost of the plan, how often participants visit the dentist and the cost...
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Through no fault of their own, Europe’s life insurance companies and their customers find themselves in uncharted territory. They are likely to be stuck there for years. Negative interest rates in many of the continent’s biggest economies—among them France, Germany, and Switzerland—have rendered the savings and retirement vehicles that millions have looked to for decades nonfunctional. Handwringing in the halls of insurance headquarters has begun, but although the model is clearly broken, the search for solutions has yet to gather speed. Less Than Zero The prospect of negative interest rates has been of academic concern to Europe’s economists and financiers for a while. Now the reality is...
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In this report, the global Life Insurance Policy Administration Systems market is valued at USD XX million in 2019 and is projected to reach USD XX million by the end of 2025, growing at a CAGR of XX% during the period 2019 to 2025. For top companies in United States, European Union and China, this report investigates and analyzes the production, value, price, market share and growth rate for the top manufacturers, key data from 2019 to 2025. The Life Insurance Policy Administration Systems market report firstly introduced the basics: definitions, classifications, applications and market overview; product specifications; manufacturing processes; cost structures, raw materials and so on....
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Lost your job? Here is how to manages your finances while you look for work The Covid-19 era has brought with it a lot of change, especially in the economic sector. Many industries have not been able to operate fully and as a result, lots of people have lost their jobs. This may lead many to consider a career change, in a bid to keep their finances in order. Finance planner, Paul Roelofse, says that when changing jobs, people do need to consider the opportunities that may be around, especially in the time of Covid-19. There are many things that need to be considered if you have lost your job and are looking for work or ways to keep afloat. Here is what Roelofse recommends. The first...
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In Max Life Flexi Wealth Plus Plan, one can personalize their unit-linked insurance plan (ULIP) based on individual risk appetites and convenience. Ulips Mortality Charges: Max Life Insurance Company has announced the launch of Max Life Flexi Wealth Plus, a unit-linked non-participating individual life insurance plan. The plan combines protection and savings into a simple and flexible solution. In Max Life Flexi Wealth Plus Plan, one can personalize their unit-linked insurance plan (ULIP) based on individual risk appetites and convenience. One can also design their premium payment and portfolio in line with individual demands, context, and moments in life. Under Max Life Flexi Wealth Plus...
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Making a decision to buy life insurance brings to mind a number of questions: When is the right time to buy? How much coverage do I need? Whole life or term, which is right for me and my family? You want to be sure you make the right choice. Whether you choose group Term, Whole life, or a combination of the two – all life insurance is designed to provide future protection for your family. To help you decide what best fits your needs, we’ve given you a topline of term and whole life insurance to get you started. Term life insurance (often called pure life insurance) provides life insurance for a specific amount of time or term. If you die during this term, your beneficiary/beneficiaries...
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Top 10 Investment Plans for Millennials As a millennial, you are just starting your career. This is a great time, to begin with, your investments as all investments done early on in life reap higher benefits. Most millennials are single and free of familial responsibilities. As a result, fixing the money is easier as they don’t have to worry about providing for a family just yet. This apart, many investments such as insurance, are available at lower costs to people who are young and healthy. Take a look at this article to know more about the top 10 investment plans for millennials in 2020. The top 10 investment plans for millennials in 2020 Here are the best options for youngsters...
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Does HDFC Life Insurance’s (NSE:HDFCLIFE) Share Price Gain of 60% Match Its Business Performance? If you want to compound wealth in the stock market, you can do so by buying an index fund. But investors can boost returns by picking market-beating companies to own shares in. To wit, the HDFC Life Insurance Company Limited ( NSE:HDFCLIFE ) share price is 60% higher than it was a year ago, much better than the market return of around 4.7% (not including dividends) in the same period. So that should have shareholders smiling. HDFC Life Insurance hasn’t been listed for long, so it’s still not clear if it is a long term winner. In his essay The Superinvestors of Graham-and-...
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