Absa notes Activate insurance can be tracked via the Activate app, which is available in all major app stores. It points out that customers seeking motor insurance receive a telematics-based solution which monitors driving behaviour and logs feedback via the Activate app. A rewards system offers customers up to 40% of their motor premiums in “cash-back” rewards based on good driving behaviour. “We expect a strong growth trajectory. Offering a digitally-enabled short-term insurance product will be attractive to customer segments who prefer self-service functionality and the benefits of usage-based insurance,” Naidoo says. Absa says the product was designed after extensive international...
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Pre-existing medical Conditions Life Insurance The facts about getting medical conditions life insurance People with pre-existing medical conditions are often able to obtain standard life insurance quotes for medical conditions life insurance. If your pre-existing condition is more serious, your medical conditions life insurance may have a higher premium or in some cases special terms such as ‘exclusions’. When taking out a medical conditions life insurance policy you will be required to provide insurance companies with your medical history before you can receive life insurance quotes. What does pre-existing medical conditions life insurance cost? The cost of your medical condition’s life...
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The High Court has ruled that Irish Life was entitled to refuse to pay €250,000 life insurance for murdered gangster Eamon Dunne over his failure to disclose drug and alcohol misuse and depression when taking the policy out. In a judgement Mr Justice Tony O Connor dismissed proceedings brought by Dunne's partner Georgina Saunders, after finding that the deceased was obliged to give details of his past drug and alcohol use and depression when he took out the policy with the insurer in 2008. Dunne, the judge said failed to give such details which the policy required him to do. There was nothing to lead the court to find that Dunne acted honestly when incorrect replies remained on the on line...
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A life insurance policy is a legal contract. There are a number of different parts that form the policy, some of these parts are included to protect you and some are to protect the insurance company. In the policy documents, these parts are typically called clauses and exclusions. It’s important to understand the workings of your policy so you know exactly what you need to do in order to make sure your family stays protected and provided for when you no longer can. Here we will cover clauses and exclusions you need to be aware of. For consistency’s sake, we are going to refer the following list of items as “clauses” but your policy may refer to some as “exclusions”. Not all life insurance...
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What is Life Assurance? A policy that pays out a lump sum or a monthly income to dependants in the event of your death, or in some cases upon diagnosis of a terminal or critical or serious illness. Why do you need it? The loss of a spouse or parent can leave dependants with additional issues to cope with other than the emotional. If you are inadequately insured, your dependants may be left with a dramatically reduced household income, which could affect their quality of life. Potentially there may be reduced opportunities for children such as the ability to pay for a university education or difficulties in maintaining mortgage payments on a reduced income. In the event of your death, a...
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How many people are battling financially, totally unaware that their deceased loved one had a life policy with them named as a beneficiary? FNB Life, a relatively new kid on the life insurance block, decided to find out about a year ago. Here’s how: it checks its list of policyholders with the home affairs-run National Population Registry to see if any of them have died. If so, they make contact with the beneficiary, most of whom have no idea that the policy existed. And then they phone them and give them the good news. “Of course, in many cases, they think it’s a scam,” says Lee Bromfield, CEO of FNB Life. “Luckily, we’re able to direct them to their local branch of FNB in order to verify...
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NEW YORK, April 9, 2020 /PRNewswire/ -- Haven Life , the digital life insurance agency backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual), is today launching new initiatives that help more life insurance applicants obtain the coverage they need. By working with MassMutual to introduce new medical data sets to underwriting algorithms and expanding data-powered human review, more Haven Life customers will be able to get coverage without a medical exam. "In these uncertain times, we're seeing a surge of individuals seeking financial protection for their families," said Yaron Ben-Zvi, Haven Life's CEO. "Due to limitations in medical exam availability and a...
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KUALA LUMPUR: Insurance policy holders most at risk of Covid-19 infection and have undergone tests at Health Ministry certified labs are entitled to a RM300 reimbursement per person. Policy holders who took the test on the advice of a general practitioner after March 27 can make the claim via the Covid-19 Test Fund (CTF) website, www.MyCTF.my launched yesterday. The Life Insurance Association of Malaysia (Liam), General Insurance Association of Malaysia (Piam) and Malaysian Takaful Association (MTA) have jointly pledged RM8 million for the fund in support of the ministry's efforts to conduct more Covid-19 tests for Malaysians. In a joint statement, they said the CTF would benefit at least...
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To avoid such a situation, as a buyer be aware of the ways in which insurance can be mis-sold to you while buying a policy. Note that, all agents might not want to mislead you, however, keep your eyes and ears open while buying a policy as many policyholders have been misled and mis-sold. With the COVID-19 crisis spreading fast, more and more people are being aware of healthcare costs and are looking to opt for health insurance policies for themselves as well as their families. Not only health, but people are also looking at life insurance policies to safeguard their family. Even though there are lakhs of well-intentioned brokers and agents that sell insurance in India, according to...
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Life is very unpredictable. It comes with a lot of surprises. From deaths to diseases, there are numerous surprises in life. That’s why investing in life insurance can be a nice idea. With life insurance, things like terminal conditions, death, and family upkeep won’t bother you. So, if you are planning to purchase life insurance, keep reading. This article will help you purchase the right life insurance cover. Do It When Young and Healthy It’s always better to purchase life insurance when you’re still young and healthy. And this is mainly because most insurance claims are often paid to people aged between 30 and 40 years. Depending on your financial situation, you may want to consider...
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