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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FREQUENTLY ASKED QUESTIONS One of the newest types of life insurance is direct term life insurance. Direct life insurance is one of the most convenient ways to insure yourself or a loved one before an untimely death. Although there are many advantages to direct term life insurance, this type of life insurance policy is not for everyone. Direct term life insurance is also sometimes called DTC life insurance for “direct to consumer”. The key differentiating factor between regular life insurance and DTC is that direct life insurance is sold without an agent or intermediary between the life insurance company and the client. Typically this type of product is purchased online. What...
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Every year millions of people buy life insurance to protect their families. There are many reasons behind their decision as it is, without question, a deeply emotional purchase. Life insurance protects the ones you love by providing financial support when you die. While life insurance is a personal and emotional purchase, it returns the peace of mind knowing you have taken the necessary steps to provide financial protection after you are gone. Your loved ones will also feel relieved knowing you have made the proper arrangements for when the time comes. It takes away the financial burden from your survivors by paying off your current financial obligations. Life insurance is not about you. It...
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Pros and Cons of Direct Life Insurance NEW YORK, October 26, 2021 (Newswire.com) - iQuanti: Life insurance is a critical consideration for anyone looking to provide peace of mind and financial support for their family. But it can be complicated to choose the right life insurance option with so many types available. Luckily, by researching and considering what coverage you need, you can find the right life insurance plan for your situation. If you want a straightforward option with affordable coverage, you may want to consider direct term life insurance. Here's what you need to know about the pros and cons of a direct life insurance policy so you can decide if this type of plan is right for...
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Securian Financial recognises the capital efficiencies gained from becoming the first U.S. direct writer of life insurance to tap into the capital markets for reinsurance protection using a mortality catastrophe bond, after its $100 million La Vie Re Limited (Series 2020-1) transaction completed. The La Vie Re mortality catastrophe bond transaction now provides Securian Financial affiliate the Minnesota Life Insurance Company with a $100 million multi-year source of collateralized mortality reinsurance from the capital markets. Mortality catastrophe bonds are rare enough in the insurance-linked securities (ILS) market, with only a handful outstanding. But there has never been a...
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WASHINGTON (March 1, 2021) — The National Association of Insurance Commissioners (NAIC) released data today on life/fraternal and property/casualty insurers. The reports provide market share information and identify leading insurance writers in several key lines of business. The numbers in the reports will increase throughout the week and month as the report runs. The 2020 market share data include countrywide direct written premiums for the top 25 groups and companies as reported on the state page of the annual financial statement for insurers that report to the NAIC. The Life/Fraternal Market Share report contains cumulative market share data for life insurance, annuity considerations,...
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