1. Insurance through an adviser is flexible and tailored to you When you buy a policy through a financial adviser you’re buying the policy as an individual. This can enable the product to be tailored to your personal needs and circumstances through both the financial advice process (which includes a detailed needs analysis), as well as an insurance process called underwriting. Combined, this ensures the amount you pay and the cover you have is just right for you. 2. Insurance bought direct from an insurance company has some limited flexibility Buying insurance direct through an insurance company (generally online) has a degree of flexibility to respond to your needs. This can be effective...
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LIDMA is the only association dedicated to supporting direct marketers, insurance companies, financial institutions, technology providers and exam companies active in the direct sale of life insurance products to consumers. LIDMA membership includes many of the industry's leading producers, carriers, business partners, exam companies and direct marketers. Buckenmeyer has helped protect families with life insurance for more than 25 years working with some of the top Direct Marketers in the industry and brings incredible industry knowledge to our community from her carrier experience. In 2001, Nicole obtained her Chartered Life Underwriter certification through the American College. Nearly...
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Should you go for direct-to-consumer insurance plans? Direct-to-consumer or direct insurance plans are those types of insurance policies that you can buy directly from an insurer, typically online, without visiting any agent or intermediary. In direct insurance plans, policyholders can visit the website of the insurance company and transact online to buy the intended product. In this digital era, all insurance firms have built their portals to interact with potential buyers and regular customers. Buyers can deal with the firms directly when it comes to buying a plan or raising a claim. This eliminates the delay in the processes so involved. However, buying a policy through a third-party...
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Agents can’t pocket commissions on direct sales: Irdai Direct sale is picking up and the latest notification by the Insurance Regulatory and Development Authority of India (Irdai) refers to handling of commissions embedded in insurance products that are sold directly rather than through an intermediary. In a circular issued on 25 January, the regulator observed that insurance companies were paying commissions embedded in insurance products to intermediaries even when the sale was direct and not routed through them. The circular, accordingly, advised insurers to refrain from this practice. “The Authority hereby advises the insurers not to book new or renew the business directly received from...
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The recent report on “Global Direct Life Insurance Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026” offered by Credible Markets, comprises of a comprehensive investigation into the geographical landscape, industry size along with the revenue estimation of the business. Additionally, the report also highlights the challenges impeding market growth and expansion strategies employed by leading companies in the “Direct Life Insurance Market”. Impact of Covid-19 in Direct Life Insurance Market: The utility-owned segment is mainly being driven by increasing financial incentives and regulatory supports from the governments globally. The current...
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A Google Trends analysis shows a steady rise in searches for life insurance over the last five years. This trend peaked between January and early March 2020, coinciding with the beginning of the COVID-19 outbreak. Since March, search activity has returned to pre-pandemic levels. However, the data illustrates that today’s policyholders are increasingly capable of making decisions about the purchase of life and health insurance by themselves. Within the uncertainty coronavirus has created and as the perception of life insurance value increases – it makes strategic sense for firms to prioritize their omnichannel presence. The life insurance industry has long held the axiom – insurance is...
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The report “Permanent Life Insurance Market Research Report 2015-2026” provides an in-depth analysis of the global Permanent Life Insurance market across top key companies, products, and Applications. The research report provides an inclusive analysis of major industry drivers, restraints, and their impact on market growth during the forecast period. The Permanent Life Insurance Market Report covers the manufacturer’s data, pricing, revenue, gross profit, business distribution, demand, market size & growth forecast, etc. This information helps the consumer know about the competitors better. This Permanent Life Insurance Market report also covers all the regions and...
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This research report studies and gauges through the current market forces that replicate growth trajectory and holistic growth trends. Aligning with changing market scenario in the wake of COVID-19 outbreak , this in-depth research offering shares a clear perspective of resultant output that tend to directly impact the overall growth trajectory of the Straight Life Insurance market. This thoroughly compiled research output shares relevant details on overall industry production chain amidst the COVID-19 pandemic. Besides assessing details pertaining to production, distribution and sales value chain, this detailed research output on the Straight Life Insurance market specifically highlights...
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Perhaps the easiest way to understand direct term life insurance is to use its other name – DTC, or direct-to-consumer. As that phrase suggests, we’re talking about term life insurance that you purchase directly from a life insurance agency or company – usually online – without going through an agent or another kind of intermediary. Before we go further, here’s a quick explanation of term life insurance, direct or not: “Term” is a kind of life insurance which gives you a certain amount of coverage for a fixed period of time, typically 10, 15, 20 or 30 year. It’s a simple, affordable type of life insurance that helps you protect your loved ones during the years they need it most. ( For a...
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Direct Line Group launches life insurance in partnership with AIG The Direct Line Group has announced the launch of a new life insurance proposition on its Direct Line and Churchill brands, as part of a five-year partnership with AIG, aiming to get customers insured in less than 10 minutes online or over the phone. Under the arrangement, AIG will provide life insurance, with critical illness as an option. The Direct Line Group has said that the new partnership offers flexibility to build and deliver future products which are tailor-made to meet customers’ needs, with technology that enables most customers to get a quote and instant cover without the need to provide further medical...
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