Coronavirus has Canadians flocking online for deals on financial products Retailers have been tracking our spending habits for years, and insurance companies are now following suit. Clients who agreed to be tracked while they drive or exercise are being given low premiums. Erica Alini explores whether you should sign up for these programs. It took EQ Bank nearly two years to grow from $2 billion to $3 billion in deposits. But just in the past three months, the online platform of Equitable Bank soared past the $4-billion mark. About 60 per cent of that increase was due to the novel coronavirus pandemic, estimates Mahima Poddar, senior vice president of strategy and digital banking at...
Continue reading...
You probably heard from an insurance agent that you need to buy life insurance for your child. Getting life insurance for your kids has advantages and disadvantages. Buying life insurance for children has become a debated issue in financial circles. Those who are for it assure parents and grandparents that thinking of coverage is a wise thing to do. They say that it improves children’s insurability and the chance to buy more such insurances in future. And, of course, it’s a nice move to save the family’s budget if any unfortunate incident happens to the child. However, financial advisors who are against it insist that the value of such documents is often overstated. They think that it’s...
Continue reading...
MIAMI (PRWEB) August 09, 2020 “Hoodlum (1997)” and “School Daze (1988)” actor Laurence Fishburne has made a name for himself by time and time again presenting award-winning performances. Fishburne is not only known for his acting abilities, but also his time spent as a director, producer, and screenwriter. Lately, the action film star has been bestowing his skillset as host to TV’s “In Depth” with Laurence Fishburne. The educational show covers a wide array of topics that impact people across the nation. An upcoming episode will examine the importance of life insurance with industry experts. Most people spend more time thinking about and planning vacations and retirements but do not always...
Continue reading...
PayAngel Money Transfer has partnered with Allianz Life Insurance Ghana to introduce a new revolutionary remittance product, the RemitCare Plan, to the Ghanaian market. The product will enable Ghanaians living abroad to provide life insurance cover for beneficiaries back home at no extra cost when they use the PayAngel platform as their preferred remittance channel. The RemitCare Plan is a life insurance solution that aims to provide financial support to the insured in the event of hospitalisation, and in the unfortunate event of death, to the named beneficiary. The product will be accessible to eligible beneficiaries who receive money through PayAngel. Jones Amegbor, CEO of Payinc Group...
Continue reading...
Presented by Jason May Insurance Agency— Just because an adult family member isn’t working outside the home doesn’t mean they should skip life insurance coverage. Q: My spouse and I have decided that one of us will take a few years off of full-time employment when we have children. We know that the working spouse definitely needs life insurance. But as for getting life insurance on your spouse who doesn’t work: Is it worth it? Generally, when people start to think about how much life insurance they need, they use an income-based rule of thumb, such as multiplying their annual income by 10. That often means they don’t think a stay at home mom or dad needs life insurance because there’s no...
Continue reading...
U.S. residents under age 45 spent July shopping for life insurance as if it were a hot new phone, or hand sanitizer. Consumers in that age group filed close to 20% more life applications last month than they did in July 2019, according to MIB Group. The under-45 group has been the strongest-performing age group since February, after years of being the weakest-performing age group. MIB’s overall life application activity index was 14.1% higher in July than in July 2019. Here are actual the MIB activity numbers for each age group for July: MIB is a Braintree, Massachusetts-based life and health underwriting data consortium. MIB analysts base MIB’s life insurance application activity index on...
Continue reading...
TUCSON, Ariz., Aug. 10, 2020 /PRNewswire/ -- Whether or not Americans want to talk about the D-word, the Covid-19 pandemic is bringing Death to their doorsteps. Stories of bereft families, like the plight of three orphans in suburban Maryland who lost Mom and Dad in a matter of days, move the threat forward. Often for the first time in their lives, people are weighing the value of life insurance. In 2020, only 54% of U.S. adults are covered by life insurance, down from 63% nine years ago (LIMRA-Life Insurance Marketing and Research Association). Life insurance coverage peaked in 2001 to over 40 million individual policies, up from almost 32 million in 1998. Policy purchases have hovered...
Continue reading...
Imagine going out and searching for rhinos each day. One day, you come across a rhino and her calf. It’s the mother’s first calf since she was been introduced to your area, a sign that she’s healthy, happy and thriving. You regularly spot the mother and calf next to a small acacia tree. Each time, you record the time and location, if they were feeding, or with any other rhinos. As weeks pass by, it’s a joy to spend time watching the calf play, learn and grow. One day you get a call over the radio: poachers have got into the park, they’ve already got to a rhino and now they’re trying to escape. The poached rhino was found by the small acacia tree. It’s your job now to track the poaching gang...
Continue reading...
Term plans score over savings-linked insurance during COVID-19 times In an even more encouraging trend in the life insurance segment, customers are no longer treating insurance simply as an investment product The sudden outbreak of coronavirus and uncertainty surrounding the pandemic has triggered much-needed change in mindset towards insurance. It is no longer seen as a tax-saving instrument that you hurriedly purchase closer to the end of the financial year. People are buying it for the real purpose, that is, having financial protection in the event of hospitalisation or in the worst case, death. The demand for health and life insurance policies has grown in the last few months. In an...
Continue reading...
It’s 3 a.m. and I can’t stop thinking that I need more permanent life insurance. Specifically, cash value whole life insurance. And now I can’t get back to sleep. No, I didn’t just get a bad medical diagnosis. In fact, I just took more than a minute off my recent best time for a 5 km run. All in all, I am in pretty good health for a man my shape. My Term 20 life insurance policy still has another eight years before it renews, and I already have both a whole life policy and a universal life policy. So there isn’t any immediate urgency, and I don’t really need to be thinking these thoughts at 3 a.m. But here we are. Unable to sleep, thinking over and over about how I really need more cash...
Continue reading...
