One of the most frequently asked questions we have been recieving is: "Has Covid-19 impacted on Life Insurance and the application process?" Ultimately, Covid-19 has impacted on all of our lives in one way or another, so it should come as no suprise that it has affected the Life Insurance application process too. To help clarify the situation, we have broken the areas that have been affected into 'New customers ...
The new Simple Life Insurance product will help advisers make sure that more customers are protected financially irrespective of their budget, says Aviva Aviva introduces Simple Life Insurance product. (Credit: Raysonho @ Open Grid Scheduler / Grid Engine / Wikipedia.org) British insurance company Aviva has introduced Simple Life Insurance, a new cover to complement its Life Insurance+ policy. The insurer claimed that the new life insurance product will help advisers make sure that more customers are protected financially irrespective of their budget. The new product targets clients who do not find time or the desire or finances to buy a comprehensive life insurance cover. According to...
When it comes to living your brand, Sammy Rubin of the three-year-old insurtech startup Yulife is something of a gold standard. After building an insurance exchange with his late father straight out of university and establishing a life insurance brand for Vitality, a burned out Rubin returned from a six-month sabbatical in the USA in 2016 – where he learnt yoga, changed his diet, and met his wife, who was running a wellness centre in Arizona at the time – determined to build a digital life insurance product that would reward lifestyle changes like the ones he had recently committed to. Taking out life insurance, typically, is not the sort of purchasing decision that people make with any...
WHITE PLAINS, N.Y., June 23, 2020 /PRNewswire/ -- Amalgamated Life Insurance Company ( www.amalgamatedbenefits.com ), a leading provider of comprehensive insurance solutions, announced that it and its affiliated companies, have completed a rebranding initiative designed to better reflect the "Amalgamated Family of Companies" and leverage the brand equity in the flagship company's name, "Amalgamated." Under the umbrella of the Amalgamated Family of Companies, which will use the tagline, From Insurance & Benefit Administration to Care Management, the rebrand resulted in name changes and new taglines assigned to certain family member companies. They are as follows: the third party...
QUEBEC CITY, June 22, 2020 /CNW Telbec/ - SSQ Insurance proudly expands its product offering to include new simplified and guaranteed issue life insurance products and in doing so, is positioning itself quite favourably in this promising and fast-growing sector. The three new life insurance options provided by SSQ Insurance let customers apply for and get coverage in under 60 minutes – a process that is 100% electronic. "The launch of these products is part of our strategy to continually innovate our digital offering in line with market needs. In a competitive environment where insurers are quickly going digital, we want to make our advisors' work easier by providing them with products...
Haven Life partners with Benefitfocus to provide new insurance solution Customer-centric life insurance agency Haven Life has partnered with tech platform Benefitfocus in order to provide individuals with Salary Protection, a new term life insurance policy that pays an employee’s beneficiary an amount equal to the policyholder’s paycheck every month for up to 15 years after initial purchase. Salary Protection claims to provide more robust coverage amounts than other group life insurance policies, which generally pay out only 1 or 2 times the employee’s annual salary. “At Haven Life, we’re focused on making life insurance not only more simple, but also more...
As your life changes, so might your life insurance needs. If your family has grown, you may need to add more coverage or beneficiaries to your policy. Approaching retirement age? You might want to use your policy for cashflow. However, changing your policy to shop around for a cheaper rate can be more trouble than it’s worth – plus, you could end up paying more with a new policy. How to switch life insurance policies Switching out your life insurance policy from term-life to whole life or vice-versa is actually a lot more straight-forward than most people would assume. Here are the steps to take to switch your policy If you lifestyle has changed — the addition of more children,...
HOW TO CHOOSE LIFE COVER FOR YOUR BOND Applying for a home loan is an exciting time in any person’s life. Preoccupied with your new beginnings, the last thing that comes to mind is what will happen in the event of your untimely death. But, while you might not be thinking about it, the financial institution with whom you’re dealing certainly will be. Life cover is the assurance most financial institutions require in order to grant you a home loan. As unpleasant as it might sound, the institutions need to be sure that the loan amount will be repaid even in the unfortunate event of your death during your lending term. For those who are the primary income providers in their...
The Insurance Regulatory and Development Authority of India (IRDAI) has instructed insurance to make some changes to the unit-linked insurance plans (ULIPs) and traditional life insurance policies. These new Life insurance policy guidelines from the IRDAI will be implemented from 1st February so it is important to be informed and updated about the changes. The insurers are being instructed to make changes in the ULIPs and traditional insurance plans. According to the new guidelines, the revival period for ULIP plans has been increased from two to three years, the withdrawal limit for your insurance plan has been increased, there is a reduction in the sum assured for buying ULIPs to 7 times...
Advanced technology has already become an integral part of the insurance industry. Nowadays, one can easily compare the life insurance quotes by clicking a button. Not only this, managing coverage or checking the policy status can be easily done via mobile app. These days, paper insurance has mostly become a thing of the past. Insurance technology is likely to mature even more in the coming years. While there are many insurance technology trends are emerging, we can see them becoming more popular throughout the insurance industry. Insurance companies looking for a competitive advantage can consider following one or more of these insurance technology trends. There are many insurance...