In his over two-decade racing career, Formula 1 legend Michael Schumacher was never involved in an accident that would have forced him off the circuit. However, last year when skiing in the French Alps, Schumacher met with an accident that left him in coma, from which he is still recovering. That, in a nutshell, is the unexpected nature of accidents. Many a times, the impact of the accident could leave one in a state much worse than death. Most people tend to have life or health insurance of some form, but they forget to anticipate the risks associated with accidents. While health and life policies do address the risk of illness and death, even they do not take into account the situation...
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Mental health has become an increasing concern for people around the world because of the COVID-19 pandemic. The coronavirus has disrupted normality as we know it, causing mass uncertainty which, for some, is a potent cause of distress and anxiety. But the global pandemic is only highlighting and exacerbating an issue that has been top of mind for many organisations, including insurers, for some time. It’s in everyone’s best interest – individuals, insurers, governments and communities - when people are as physically and mentally healthy as possible. “First and foremost, we need to raise the prominence of the role that insurance can play in helping consumers deal...
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Breeze announced on Tuesday it has teamed up with Assurity Life to launch an API-driven disability insurance product with a digital application and underwriting process. Through the new service, individuals may request a personalized disability insurance quote and complete a secure application process online in 10-15 minutes. By using existing data from health records and other sources, Breeze allows eligible applicants to skip the medical exam often required by manual underwriting. “Policies from the Omaha -based company are issued by underwriting partner Assurity Life, which is rated ‘excellent’ by AM Best for financial strength. Coverage is available in 49 states and...
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This well versed report is thoughtfully crafted to arm report readers with convincing market insights on the mettle of all aforementioned factors that propel relentless growth despite significant bottlenecks in the Life, Pension, Health & Disability Insurance Market. This recent research compilation on the Life, Pension, Health & Disability Insurance market presents a deep analytical review and a concise presentation of ongoing market trends that collectively inculcate a strong influence on the growth trajectory of the aforementioned Life, Pension, Health & Disability Insurance market. This study covers following key players: Anadolu Hayat Emeklilik Assicurazioni Generali...
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Western Union Partners with AXA to Offer Insurance Services Through Its Global Payments Platform Today, Western Union (NYSE: WU), a global leader in cross-border, cross-currency money movement and payments, announced a new strategic partnership with AXA to leverage Western Union’s global omni-channel platform to deliver affordable life and disability insurance offerings to consumers in France, sending money via www.westernunion.com to 10 African countries. The partnership will initially be a pilot program which Western Union and AXA hope to grow and scale over time. The initiative highlights the broader potential opportunities of Western Union’s strategy to leverage its unmatched global...
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And even if you don’t need to be hospitalized, if you do experience symptoms and test positive, you might have to stay quarantined for enough time that you’d lose income. These risks highlight the need for everyone, regardless of their age or current state of health, to have some form of disability insurance coverage. You might think you don’t need disability insurance, especially if you’re young and in good health. Hopefully, you’re right. Unfortunately, though, becoming disabled can happen to anyone at any time. This isn’t specific to coronavirus either; it has always been true. The Americans with Disabilities Act has detailed specifics on what a disability is, but the most basic...
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Look beyond the price of group disability insurance Group disability insurance in South Africa is highly commoditised, with decisions driven largely by price in many cases. While premiums for this highly-valued employee benefit have increased over the last two years, Regard Budler, Managing Executive: Momentum Corporate Client Solutions, says that to unlock the real value of group disability benefits, employers and their financial advisers need to look beyond price. Over the last few years many claimants are tending to stay on disability longer, choosing the relative security of a generous disability benefit over what they perceive as a less secure return to work in a stagnating economy....
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There are plenty of ways to protect your family and disability insurance should be one of them. While it’s common to think about getting life insurance in case you pass away suddenly, disability insurance is important in case you can’t work. Think about it: what will happen if your family relied on your paycheck to make ends meet? It’s a scary thought, but luckily getting disability insurance is pretty quick and affordable. That is, if you go with a company like Breeze, which enables you to get a free, personalized quote and apply completely online. Keep reading to find out what Breeze offers, how much you may pay and whether it’s the right choice for you. About...
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Does your T4 say you made more than you thought you did? Perhaps you didn’t consider your taxable benefits. Find out what is and isn’t taxable. Have you received your T4 slip for the previous tax year? You may be wondering why the employment income reported in Box 14 is higher than the salary or wages you earned for the year. That's because your employer must report premiums* it pays for certain group benefits and the value of some perks as a taxable benefit, and you must pay taxes on those amounts. (*Premiums refer to monthly or annual fees.) Tax benefits give you the opportunity to reduce your tax bill. They often come in the form of deductions and credits. A tax deduction lowers your...
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Financial planning is not a science. As much as human behavior invokes the need to “figure it out”, and always identify cause and effect, sometimes there are aspects of our lives that are not black and white. Think of health, why do some people get sick while others stay healthy? Having acknowledged the presence of unpredictability, there are responsible choices along the way which can increase the probability of success in all matters. In the world of finance, one could identify three ultimate threats to an individual. A person can live too long, die too early, or become disabled. At first glance, this statement has little to do with economics. However, if you live too long, how can you...
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