Term insurance products are gaining traction as households are being proactive about financial planning due to heightened anxieties around unemployment and untimely death of the family breadwinner in the time of Covid-19 crisis, a survey said. The Max Life India Protection Quotient (IPQ) - Express survey also noted that job security, medical security, and financial security of the family in the absence of a breadwinner are more important to people now than before the Covid-19 era. According to the survey, term insurance is the most preferred life insurance category during Covid-19 and 83 per cent respondents believe that the situation demands one to be more proactive about financial...
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I'm worried about redundancy: Can I apply for unemployment insurance even though I'm on furlough? I've been on furlough since March and it's been extended to October - but I am worried my employer will make me redundant at that point. I have all the normal types of insurance - life, car and home etc., but I don't have anything that will protect my finances if I get made redundant or fall sick. Can I apply for unemployment insurance even though I'm on furlough, or is it too late? And is there insurance to protect my finances if I fall ill with the virus? David Vickery, insurance adviser from Cavendish Online, said: This is a great question and something that has been raised by numerous...
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Working on digital engagement with customers Private sector IndiaFirst Life Insurance Company is confident of a revival in sales and is working out new ways to reach out to customers digitally in the wake of the pandemic.. “Things are limping back to normalcy and unless there is a big second wave of Covid, we will see this continue as a trend. I don’t expect a dramatic improvement,” said Rushabh Gandhi, Deputy CEO, IndiaFirst Life Insurance, adding that people are more keen on buying insurance due to worries about the pandemic. The insurer saw a spurt in sales of non-participating or guaranteed and protection plans in April and May and said that in June, the sales were getting back to...
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Do you need life insurance? Do you need life insurance? Nobody likes thinking about their own death. But if you have a partner, children or any other relatives that depend on you, you may find that a life insurance policy will help you provide for your family even when you do eventually pass away. This is because life insurance can pay your dependants money as a lump sum or as regular payments if you die. This way, they’ll still have the money to pay the mortgage and other living expenses. However, that said, life insurance isn’t compulsory and it’s not something that suits everyone. To help you decide whether you need life insurance, we’ve put together this guide on...
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UBS, Swiss Re to partner on life insurance offering for mortgage clients Multinational investment bank UBS is joining forces with global reinsurer Swiss Re to launch a life insurance offering for property owners in Switzerland. The offering will allow UBS mortgage clients to insure against disability up to $640,000 and against death up to around $1 million. UBS supposedly wants to bake Iptiq, Swiss Re’s insurtech subsidiary, into its domestic mortgage lending business and leverage its data-backed product engine, on which it’s possible to design tailored solutions for business clients. This move is said to be an attempt to digitise production and distribution via platforms, in a...
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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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Brokers in Non-Life Insurance Market 2020 Global Industry research report provides a detailed Global Brokers in Non-Life Insurance Industry overview along with the analysis of industry’s gross margin, cost structure, consumption value, and sale price. The leading companies of the Global Brokers in Non-Life Insurance Market, manufacturers, and distributors are profiled in the report along with the latest Industry development current and future trends. Based on the Brokers in Non-Life Insurance industrial chain, this report mainly elaborates the definition, types, applications and major players of Brokers in Non-Life Insurance market in details. Deep analysis about market status (2015-...
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OLDWICK, N.J.--( BUSINESS WIRE )--AM Best has maintained the under review with negative implications status for the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of Universal Life Insurance Company (San Juan, PR) (Universal Life) following a reinsurance arbitration award. This Credit Rating (rating) action reflects a continuation of the under review with negative implications status that was assigned on April 15, 2020, and was predicated on Universal Life raising capital to provide ample liquidity for its fixed-annuity business currently reinsured by Private Bankers Life & Annuity Co., Ltd. (PBLA). This under review status is based on the...
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Advanced report on ' Life Insurance Policy Administration Systems Software market' Added by Market Study Report, LLC, offers details on current and future growth trends pertaining to the business besides information on myriad regions across the geographical landscape of the ' Life Insurance Policy Administration Systems Software market'. The report also expands on comprehensive details regarding the supply and demand analysis, participation by major industry players and market share growth statistics of the business sphere. The Life Insurance Policy Administration Systems Software market report comprises of a complete analysis of this business landscape. According to the research, the Life...
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LONDON–(BUSINESS WIRE)–AM Best is maintaining its market segment outlook on the German life insurance market at negative. Key supporting factors include the narrowing of margins between investment income and average minimum guarantees due to lower investment yields, the slow runoff of back books of business and the negative impact on earnings from the need to increase contributions to the Zinszusatzreserve. A new Best’s Market Segment Report, titled, “Market Segment Outlook: Germany Life,” notes that these negative factors are partly moderated by the proactive response to the low interest rate environment, with insurers reducing guarantees and increasing the proportion of hybrid...
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