Economists love the idea of buying retirement income annuities about as much as the people who sell annuities do. They write many research papers about what they see as the mysterious puniness of the world’s annuity markets. Two economists — Cormac O’Dea, who’s at Yale, and David Sturrock, who’s at University College London — have come out with a working paper with an explanation of part of the gap: workers are skeptical about the idea that they’ll live a long time after retirement. Life insurance company actuaries think workers will live much longer in old age than the workers themselves do, O’Dea and Sturrock write in the working paper, which has been published, behind a paywall, on the...
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Mutual life insurance and pensions giant Royal London has found itself in the red for the first half of 2020. From a pre-tax profit of £397 million in the first six months of 2019, Royal London plummeted this year to a loss before tax of £181 million. The H1 hit was attributed to lower investment returns in the period, as well as higher liability valuations due to a reduction in discount rates used in valuing long-term business provisions. In a release, Royal London clarified: “There has not been any material adverse experience in the first half of the year as a result of the COVID-19 pandemic. A £10 million reserve for COVID-19 related claims was charged in the...
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10 Life Insurance Myths Debunked Life insurance isn’t a subject that anybody wants to think about as no on plans to pass away, even though we know it’s very important. With all the information on the internet and speaking with people we know can sometimes make it confusing. Which isn’t helped by the many common misconceptions about life insurance. The trouble with misconceptions, is that it can stop people from making important decisions about the cover they might need which could impact them or their families. At Life Insurance Cover we take off the foil hat and tackle 10 life insurance myths to give you a clearer understanding of what is correct and which is wrong when it...
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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...
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Susan McInnes to step down as Andy Curran follows old boss Andy Briggs to financial services group Phoenix Group chief executive Andy Briggs Former Aviva executive Andy Curran is to take charge of the Standard Life Assurance business at Phoenix Group as Susan McInnes steps down. Curran follows his old boss Andy Briggs, who stepped down as chief executive of UK Insurance for Aviva last year before becoming CEO at Phoenix in January. McInnes will retire as CEO of Standard Life Assurance this autumn, having taken on the role as Phoenix Group bought the business from Standard Life Aberdeen for £2.9 billion in September 2018. Having been with Phoenix fora decade, she will also step down as group...
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The UK Travel Insurance Market report by Adroit Market Research, provides a detailed analysis of the area marketplace expanding; competitive landscape; global, regional, and country-level market size; impact market players; market growth analysis; market share; opportunities analysis; product launches; recent developments; sales analysis; segmentation growth; technological innovations; and value chain optimization. This is a latest report, covering the current COVID-19 impact on the market. The pandemic of Coronavirus (COVID-19) has affected every aspect of life globally. This has brought along several changes in market conditions. The rapidly changing market scenario and initial and future...
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f you’re looking to make some serious money in a high-earning Life Insurance sales role, whilst soaking up the glorious Spanish sun, then stop what you’re doing and have a look at this! This has to be one of the most attractive opportunities on the market. This very successful life insurance brokerage has the financial backing of an incredibly established wealth management company, and as a result, they’re looking to expand and bring on experienced Life Insurance Sales Agents. Despite only working with UK-based clients, you will be working solely from the land of sunshine and Sangria - Spain! You’ll be selling life insurance to the UK market, so it is crucial that you have experience in a...
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AM Best is maintaining its market segment outlook on the United Kingdom non-life insurance market at negative. Key factors underpinning the outlook include an expectation of lower premium volumes due to the economic slowdown driven by the coronavirus (COVID-19) pandemic, as well as persistent pressure on underwriting performance from strong competition and claims inflation. The outlook also considers the ongoing political and economic uncertainty associated with Brexit and regulatory scrutiny of retail pricing practices. A new Best’s Market Segment Report, titled, "Market Segment Outlook: United Kingdom Non-Life," notes that insurers have welcomed changes to the personal injury compensation...
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A new insurance provider, backed by BHIB Insurance Brokers, has launched for freelancers working within the creative industries, allowing professionals to access general insurance, life insurance and income protection through a broker. Create Insurance, underwritten by Hiscox for general insurance and Vitality for life insurance and income protection, is aimed at those working within creative fields, such as photographers, script writers, makeup artists and camera assistants. Customers can choose from a suite of appropriate levels of cover for their equipment, work or themselves. Distinctive proposition Create Insurance is part of BHIB Insurance Brokers; the proposition was designed by...
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Life insurance for non UK residents protecting a UK asset If, once you’ve read this case study, you’d like to talk through your situation, please call 0800 644 4468 Monday to Thursday from 09.00 to 19.00 and on Friday between 09.00 and 17.00. Our process The first thing we do is pick up the phone. We speak to Underwriters at many of the UK’s leading Insurance companies. Discussing all of our client’s medical history helps us to identify the best company to apply to. This also means we avoid applying to companies who will end up being too expensive or worse, decline an application. By completing our research thoroughly, we are able to avoid wasting time and...
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