NobleOak Life Limited (NobleOak) has continued its dominance as the most awarded direct life insurer by winning the inaugural Money Magazine Consumer Finance Awards Direct Life Insurance Cover of the Year 2022. Anthony Brown, CEO of NobleOak, said, “This is the first time Money Magazine has awarded an insurer in the life insurance category. To be the first company to receive this distinction is very gratifying.” Money Magazine partnered with Plan for Life, Actuaries & Researchers who are specialists in analysis of the Australian financial services industry, to complete the independent review of products offered direct in the market. Plan for Life compared product offerings from direct...
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When it comes to buying life insurance, the options and benefits can feel overwhelming and endless. In past decades whole life policies were often referred to as the most straightforward option for life insurance. Policy Loan Basics Before we get into the benefits, let me explain some basic insurance lingo. With any whole life policy, there is a cash value that is available to access as the policy grows over time. There are many options for how this money can be used in the future. One example includes taking a loan from the insurance company and using the cash value as collateral, also known as a policy loan. With a policy loan, you are charged a set interest rate on the borrowed money,...
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HONG KONG, July 3, 2022 / PRNewswire / -- Chubb Life today announced that Gail Costa will lead the company's life insurance operations in New Zealand that were recently acquired from Cigna. Ms. Costa, who is currently Chief Executive Officer of Cigna Life New Zealand, will continue to have executive operating responsibility for the business, which will operate under the Chubb Life brand in New Zealand. On July 1, Chubb, the world's largest publicly traded property and casualty insurer, completed its acquisition of the life and non-life insurance companies that house the personal accident, supplemental health and life insurance business of Cigna in six Asia-Pacific markets, including New...
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Non-life insurers’ gross direct premium grows 23% for Q1FY23 Collective gross direct premium underwritten for non-life insurance companies grew 22.99% year-on-year to Rs 54,491.27 crore for the first quarter this fiscal from Rs 44,303.91 crore for the same period last fiscal, data from insurance regulator IRDAI showed on Friday. For the month of June, a total of 32 non-life insurers posted a growth of 20.66% y-o-y in gross direct premium underwritten at Rs 17,810.57 crore compared to Rs 14,761.05 crore for the corresponding period last fiscal. Upto the month of June, 2022, gross direct premium underwritten for 25 general insurance companies grew 22.73% y-o-y at Rs 48,860.47 crore,...
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Cover Direct Life Insurance Review – Updated 2022 Cover Direct Life Insurance Review Cover Direct also sells term life insurance that is underwritten by Canadian Premier. They offer these products through a telephone consultation or via filling out a quote form. They offer term life insurance policies with up to $1.5 million in coverage. These term policies are neither convertible nor renewable. Cover Direct offers additional critical illness insurance but no disability insurance products. Renewability lets a term life insurance policyholder re-up their current coverage without having to re-qualify. Convertibility lets a policyholder exchange their term life coverage for a whole life...
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An Australian Securities & Investments Commission (ASIC) Report, " Sale of Direct Life Insurance " (Report), has exposed systemic issues within the life insurance industry. The findings include a number of dramatic case studies which have sparked a range of recommendations. The report has a wide focus, covering direct life insurance, including term life, accidental death, trauma, total and permanent disability (TPD) and income protection insurance. This August 2018 Report is particularly relevant because it echoes the "consumer-centric" focus of the Banking Royal Commission (Royal Commission). Some level of regulatory change seems likely. ASIC reviewed 11 insurance firms which...
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Life Insurance Life insurance provides an agreed lump sum to your loved ones when you die. It is commonly used to pay off an outstanding mortgage and is frequently bought with Critical Illness Cover. Life Insurance is a cost effective way of providing financial support to those you leave behind. If you’re considering getting a quote you’ll need to know the following; How much do you have left on your mortgage? – If this is what you would like your life insurance policy to pay for, you’ll need to know how much is left to pay off and how long your mortgage term is. The type of cover you want – you can choose from decreasing life cover (which reduces the lump sum...
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These insurance plans are underwritten by AIA Singapore Private Limited (Reg. No. 201106386R) (“AIA”). All insurance applications are subject to AIA’s underwriting and acceptance. This is not a contract of insurance. The precise terms and conditions of these plans, including exclusions whereby the benefits under these plans may not be paid out, are specified in the policy contracts. You are advised to read the policy contracts. You may wish to seek advice from an AIA Financial Services Consultant before deciding to purchase this policy. Should you choose not to seek advice from a Financial Services Consultant, please consider whether the product is suitable for you, and you take...
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Return of premium option Benefits of Direct Term Life Insurance Direct term life insurance policy offers financial security and peace of mind for the distinctive time-strapped family without any hassles that can come in a way of buying insurance. Here’s a quick laydown of benefits: Convenient One of the main benefits of direct term life insurance is its convenience. Purchasing direct term insurance online means you can shop at your convenience while sitting at your home. You can find the ideal term and conditions that suit you and your family. Speed With direct term insurance, you do not have to wait for an appointment with an insurance agent. The online processing and the research...
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The most recent market research on Direct Life Insurance has recently been published. The market presents an analysis of the current industry dynamics in the Direct Life Insurance Market arena, as well as what our survey respondents believe the market will look like in 2027. The study divides the market into revenue and volume (where relevant) segments, as well as price history, in order to calculate market size and trends, as well as find gaps and opportunities. Some of the players that are in coverage of the study are AXA, MetLife, Meiji Yasuda Life Insurance Company, AIA Group Limited, WanaArtha Life, Munich Re Group, Asian Life Insurance Company, Zurich Financial Services, Prudential,...
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