TORONTO, Sept. 15, 2020 /CNW/ - Canadians received a record $103 billion in benefits from life and health insurers last year, up 60 per cent from a decade earlier. These benefits include $53.3 billion in retirement annuity payments, $38.1 billion in health benefits for prescription drugs and supplementary health services like dental care and physiotherapy, as well as $12.1 billion in life insurance benefits. "Life and health insurance benefits help make life more affordable and secure for nearly four out of every five Canadians," Stephen Frank, President and CEO of CLHIA said. "The benefits insurers allow Canadians to access prescription medicines, live more comfortably in retirement, or...
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Deep Impact AI is already helping to sharpen statistical calculations of the risk involved in a product, and can help with the premium pricing. But this is something that good, old-fashioned human actuaries, working with historical statistics, have been doing for years. The real impact of AI over the next few years is more likely to lie elsewhere. One of the first places where AI’s impact on travel insurance is being felt is in the automation of claims. Any provider of travel insurance has a vested interest in building up a loyal customer base. An essential part of creating this loyalty is the ability to provide a rapid decision and payout when claims come in, improving customer...
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The research reports on Philippines Life Insurance Market report gives detailed overview of factors that affect global business scope. Philippines Life Insurance Market report shows the latest market insights with upcoming trends and breakdowns of products and services. This report provides statistics on the market situation, size, regions and growth factors. Philippines Life Insurance Market report contains emerging players analyze data including competitive situations, sales, revenue and market share of top manufacturers. Top Companies mentioned- Sun Life of Canada ( Philippines ) Inc. Philippine AXA Life Insurance Corp. BPI Philam Life Assurance Corp. Inc. Philippine American Life &...
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With growing economic uncertainty during the COVID-19 pandemic, the financial landscape is shifting every day. Whether it's dealing with sudden unemployment, ballooning debt, or expenses related to working from home, BNN Bloomberg wants to help Canadians navigate these uncharted waters. retirement That’s why we created Ask BNN Bloomberg, where you can have your personal finance questions answered by industry professionals. Email or send your questions via video to askbnnbloomberg@bellmedia.ca, and we will aim to answer them weekly. Questions and answers have been edited for clarity. Last names will not be used. Do I have to return to work if my employer reopens? I was laid off from my job...
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AIG Life & Retirement expands distribution network with Annexus AIG Life & Retirement, a division of AIG and a provider of annuities, has announced a new relationship with Annexus. The relationship is part of AIG’s continuing strategy to expand its distribution network and further diversify a broad lineup of retirement income solutions. AIG Life & Retirement and Annexus will bring consumers X5 Advantage, an index annuity issued by AIG member company American General Life Insurance Company and provided through a network of Annexus-contracted independent distribution companies. X5 Advantage offers exclusive indices developed by premier asset managers PIMCO and Morgan...
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One possible clue about how the U.S. annuity market could look in 20 years is that life insurers created the modern U.S. annuity market in the decade in the decade after the catastrophic 1918 influenza pandemic. People with an interest in the topic can see how newspapers of the era covered the topic by searching through electronic newspaper archives, such as the archive. The consumers and life insurers in the U.S. insurance market in late 1918 had just gotten through World War I, faced the prospect of the country having to pay off mountains of war bonds, in were in the middle of the flu pandemic, which would kill about 600,000 Americans over three years, or 0.6% of the U.S. population, and...
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NEW YORK--( BUSINESS WIRE )--New York Life today announced that it has partnered with Cigna to launch, through their foundations, the Brave of Heart Fund. The Fund will provide financial and emotional support to the families of healthcare workers and volunteers nationwide – including doctors, nurses, technicians, orderlies, cafeteria workers, custodians, and others – who lose their lives to COVID-19. The Fund is launching with initial contributions of $25 million each from the New York Life Foundation and Cigna Foundation. To further support the Fund, the New York Life Foundation will also provide a dollar-for-dollar match on the first $25 million in individual donations received, and Cigna...
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MILWAUKEE, April 8, 2020 /PRNewswire/ -- Even before the COVID-19 outbreak led to a spike in unemployment and declines in the stock market and broader economy, 33% of Americans were already within three missed paychecks of having to either borrow money or skip bills. These are the first set of findings from the 2020 Planning...
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Friday, January 3, 2020 Flynn Foster, president and CEO of Guaranty Corporation, has been named the 2020 board chair of the Baton Rouge Area Chamber, the organization announced this morning. He will preside over the board as BRAC crafts its next five-year regional strategy. In a prepared statement, BRAC President and CEO Adam Knapp says Foster’s “energy and breadth of understanding will be an asset” as the chamber charts its future direction, noting Foster has served on almost all of BRAC’s organizations and committees in the past. “More than eight hundred thousand of us call the Baton Rouge metro home,” Foster says in a prepared statement. “Taking care of our home and making it a better...
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COMMENTARY: Minimum wage hike would aid American Dream I’m a CEO with a GED, and I have walked in the shoes of a minimum-wage worker. I know from experience that it’s a tougher road today. The minimum wage buys fewer necessities now than it did when I needed it to survive. And as a successful capitalist, it pains me to see that the American Dream, which so inspired me, is increasingly out of reach. As a young boy, I knew all too well the despair of empty pockets. I learned to be resourceful, making money by selling my most precious possessions. The sound of change in my pocket gave me hope. From ages 15 to 18, I was homeless. I did what I had to do to survive and put money in my pocket. I...
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