Rahima Moosa Hospital (Rafik Sarlie via Flickr) For the privileged South Africans who have private health insurance, the National Health Insurance Bill is a profound shock. The need for a better healthcare system for all South Africans is nowhere in dispute, but the idea that members of the private system will have no choice but to be served by the dysfunctional public system is, well, heartstopping. But is that what the new system will require? If so, could the Constitution come to their aid? Lawyers are already debating both those points. Leaving aside the issue of the effectiveness of SA’s existing public healthcare, the debate about a single national health insurance system rests on...
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Life insurance firms may again sell health plans for hospitalisation 3 min read . Updated: 26 Feb 2020, 01:41 PM IST Disha Sanghvi Indemnity-based health plans protect you against unexpected medical expenses by reimbursing the actual expense incurred on hospitalisation Irdai had first allowed life insurers to sell individual and group indemnity-based health plans in 2013 “As of now, Irdai has only asked for a committee to be constituted. The reason why they’re doing this is because life and health policies are sold by a similar kind of advisory. They are both heavily advise-based products and though Irdai is saying health segment is growing at 20% CAGR, penetration is still quite low in...
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Many of us do not realise the true value of insurance until an unforeseen event or accident happens. When that day comes, we are quick to ask if there was insurance in place. It is not a grudge purchase, but an absolute necessity. It is therefore vital you ensure that your insurance policy is valid and that your claim will be paid as expected. Henk Meintjes, head of risk product development at Liberty, says: “When you consider that Liberty paid out R4.46-billion in 2017, the need for long-term insurance cover becomes clear. This is money that our clients and their families need to manage their finances through these difficult times.” Life and health insurance helps you and your family make...
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Would you do away with life insurance? Do you think it’s OK to NOT have life insurance? If you do, you are probably one of the 0.001% of the populace who thinks so. Jokes apart, there are no two ways about the fact that life insurance is a must-have financial product for everyone. Life Insurance provides a lump sum benefit payable upon your death, to your next of kin. Most life insurance policies are term life insurance policies as the contract is only renewable for a certain term. Typically, all term life insurance policies have the age limit of 65 years, beyond which, the policy can no longer be renewed. Beneficiaries of life insurance policies are normally your dependants. Life insurance...
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North American Company for Life and Health Insurance Announces Protection Builder Indexed Universal Life Product Latest addition to strong product line offers lifetime guaranteed death benefit coverage plus cash value potential WEST DES MOINES, Iowa, Nov. 18, 2019 (GLOBE NEWSWIRE) -- North American Company for Life and Health Insurance Financial Group, Inc. (SFG) and one of America’s leading insurance companies, today announced the launch of its Protection Builder Indexed Universal Life (IUL) insurance product. The product combines guaranteed death benefit protection ; cash value growth potential; an accelerated death benefit endorsement for a qualifying critical, chronic, or terminal...
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In today’s world, nobody can ignore the importance of life insurance as it gives financial security to your family in case of an unfortunate event along with various options which allows your money to grow with time. But the skyrocketing price of health care has made a health insurance policy as important as a life insurance policy. The increasing health issues and unhealthy lifestyle are pushing people towards diseases and illness, and burning a deep hole in their pocket. But the real hassle arises when people have to buy health insurance plan and a life insurance plan. It becomes a cumbersome process for most of the people and managing both the policies. you can buy Term Plan and Health...
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from left) Vibha Padalkar of HDFC Life Insurance, Shreeraj Deshpande of Future Generali India Insurance, Abhishek Bondia of and Aalok Bhanof Max Life Insurance Are life insurers equipped to sell indemnity health plans? 4 min read . Updated: 02 Mar 2020, 10:46 PM IST Disha Sanghvi Statistics reveal that insurance covers a mere 5% of the overall health expenditure in India Health indemnity individual plans which help decrease the burden have the scope to grow at a faster pace Vibha Padalkar, MD and CEO, HDFC Life Insurance It is an obvious opportunity waiting to be leveraged Statistics reveal that insurance covers a mere 5% of the overall health expenditure in India. Out-of-pocket spends...
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COVID-19: Statement from the life and health insurance industry TORONTO, March 13, 2020 (GLOBE NEWSWIRE) -- Canada’s life and health insurers empathize with and are supporting employers, governments and individual Canadians who are taking steps to protect themselves and contain and control the spread of the COVID-19 coronavirus. Our member companies provide important products and services that can help those who may be affected. Travel insurance helps individuals who have to cancel trips, or receive medical care outside Canada due to unforeseen events. Extended health coverage helps people afford prescription medications, and short-term disability coverage can help employers provide partial...
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COVID-19 impact on life and health insurance Moore School professor Robert Hartwig discusses the pandemic's likely impact on life and health insurance products Posted on: March 17, 2020; Updated on: March 17, 2020 As the coronavirus threatens health and upends daily life throughout the world, UofSC Today is turning to our faculty to help us make sense of it all. While no one can predict exactly what will happen in the coming weeks and months, our faculty can help us ask the right questions and put important context around emerging events. Robert Hartwig is a clinical associate professor of finance in the university’s Moore School of Business and co-director of the school’s Risk and...
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Employee Group Benefits About Employee Group Medical Insurance With the ever-changing medical insurance marketplace, our Benefits Division will stay on top of insurance plans and trends to offer the best options available. Mindful of PPO networks, products, and pricing, we will research and analyze these options and prepare a custom designed proposal specifically for the client or prospective client based upon their needs and selected criteria. Two or more unrelated employees are needed to qualify for this benefit. Our Benefit Administration Services philosophy is to let our clients focus on primary business initiatives and not to worry about the cost, compatibility, and compliance...
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