Recent harsh weather conditions combined with the weakening Rand and the labour environment have put a strain on short-term industry, leading to significant declines in insurers’ underwriting profitability over the past year, said Anton Ossip, CEO of Discovery Insure, on Tuesday. He was speaking at the inaugural Discovery Insure Financial Summit held in Sandton, Johannesburg, which focused on challenges facing the short- term insurance industry with the view to empower financial advisers on how to deal with them. These include emerging mobile and digital technologies and the impact of changing weather conditions such as last year’s hails storms which caused massive damages to property...
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At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict, this post may contain references to products from our partners. Here’s an explanation for. You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our...
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MUMBAI, May 23, 2020 /PRNewswire/ -- The Coronavirus pandemic has left everyone scrambling back to drawing boards to design and accept a new normal for families, businesses and economies. With heightened health concerns across the globe, people are increasingly recognising the importance of insurance and India is no exception. After all, this is an opportune time to relook and redesign financial portfolios, looking through the lens of three critical elements - protection, savings and wealth creation. Here's how insurance can make financial portfolio robust and ready for any unforeseen financial challenges in the future: Protection or Life Cover strengthens a long-term financial portfolio,...
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Short Term Insurance is far from a luxury, it is a necessity. It is having piece of mind, knowing that if something were to go wrong with our Home, Car, Bike or Boat, we are covered. Any type of insurance other than Life Insurance may be referred to as Short Term Insurance. This is because short term policies are only taken out during a period of necessity. For example, it is unlikely that you will be driving just one car for your entire life. A short term policy refers to the amount of time you own that specific vehicle, however long that maybe. Unlike a Life Insurance Policy which is, as the name suggests, for life. So Why Is Life Insurance Important? Here are the top 3 reasons that you...
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New product offers live cover to even those with existing health conditions ICICI Prudential Life Insurance, a private life insurer, has launched ICICI Pru Precious Life, the industry’s first term plan specifically designed for customers who find it difficult to get access to life cover due to existing health conditions. Term insurance plans provide protection against the loss of income by the family due to the demise of the earning member. Individuals who have existing health conditions such as diabetes, high blood pressure, high cholesterol, obesity or even those who have successfully recovered from cancer or any other surgeries, find it difficult to get life cover and hence are unable...
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The Zacks Life Insurance industry comprises companies that offer life insurance coverages and well as retirement benefits to individuals and groups. The products include annuities, whole and term life insurance, accidental death insurance, health insurance, Medicare supplements as well as long-term healthcare policies. The industry also includes companies that provide wealth and asset management solutions. Let us take a look at the industry’s three major themes: A rising interest rate environment is a boon for the life insurance industry. After hiking rates nine times since December 2015, the Federal Reserve lowered the rate by one quarter basis points to a range of 2%-2.25% due to slowing...
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What is term life insurance? Term life insurance offers pure insurance protection for a set amount of time, such as 10 years, 20 years, or even 30 years. Because of its affordability, this type of life insurance can provide you with ample protection, typically at a low premium. It may be possible to “customize” a life insurance policy with a variety of different riders. How does term insurance work? With a term life insurance policy, a lump sum death benefit will be paid out to the policy’s beneficiary if the insured dies while the plan is in force. There is no cash value component with this type of life insurance. Cost of term life insurance There are several factors that...
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Santam voted best amongst South African short-term insurance companies Insurance companies promise a lot of things. That they’re faster and cheaper than the next guy. Or that they’ll always be there for you. At Santam, we’ve always said that we do insurance good and proper. Insurance with no ifs, no buts and no maybes. Insurance that looks for reasons to pay you, rather than reasons not to. It’s this commitment that has led to both consumers and brokers voting us the most reliable personal insurer when it comes to paying claims and satisfying their insurance needs. Santam ranked top performing insurer The South African Customer Satisfaction Index (SAcsi) is an industry benchmark survey and...
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A Homemade Plan accepts all Long-Term Care insurance (LTC insurance). We work with many insurance companies including John Hancock, Genworth, MetLife, Long Term Care Partners, New York Life, among many others. We have years of experience working with LTC insurance companies and know what is involved with the claims process. To help make home care as easy as possible, we would be more than happy to walk you through the process of initiating and maintaining LTC insurance benefits. What is Long-Term Care Insurance LTC Insurance is an insurance policy which partially or fully covers the cost of long term care services, such as home care services, assisted living, and nursing homes. Payments...
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Disclosure: We receive advertising revenue from some partners. To that end, you should know that many advertisers pay us a referral fee if you purchase products after clicking links or calling phone numbers on our website. The following companies are our partners in Long Term Care Insurance: LTC Financial Solutions, GoldenCare, CLTC Insurance Services,, Federal Trust Life Insurance, and LTC Rider. We sometimes offer premium or additional placements on our website and in our marketing materials to our advertising partners. Partners may influence their position on our website, including the order in which they appear on a Top 10 list. For example, when company ranking is subjective (meaning...
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