While Corona Kavach has a cap of ₹ 5 lakh on the sum insured, Corona Rakshak has a cap of ₹ 2.5 lakh. Photo: iStockphoto 60 lakh lives covered under covid-19 health policies, says Irdai chairman 2 min read . Updated: 18 Sep 2020, 07:20 AM IST Disha Sanghvi Insurers have sold around 28 lakh Corona Kavach policies with a total sum insured of ₹ 1.02 lakh crore and 32 lakh Rakshak policies with a total sum assured of ₹ 1.1 lakh crore since July. He was addressing the 22nd Insurance and Pensions Summit organized by the Confederation of Indian Industry (CII). Corona Kavach is a standard indemnity policy offered by all general and health insurance companies, while Corona Rakshak is a fixed-...
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How to choose the right family life insurance Updated 03 September 2020 ‘Family life insurance’ is really just another name for life insurance. It’s not a special type of insurance, but is a very good description of the main benefit of life insurance: protecting your family. That’s why people often talk about ‘family life insurance’ when referring to life cover taken out by people with children. Here we explain why this may require a bit more thought and professional advice than taking out a basic life insurance policy. What is family life insurance? When people take out family life insurance, they are trying to ensure that their children and/or partner...
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The Dos and Don’ts of Life Insurance in the UAE As a UK expat, it is likely you have spotted the excitement in the UAE life insurance sector. We at Holborn Assets report that “the Dubai life insurance sector is lifting off at a growth rate of 10% a year and is crammed with over 60 competing insurers, offering great deals.” So we’ve taken in the bigger picture, and it is looking good. But what about the details? How can you, as a UK expat, ensure you get the right life insurance deal? Here we present 5 DOs and 5 DON’Ts in the UAE life insurance sector: DO #1 – Check Out your Three Basic Options There are three main types of life insurance: Level Term – which pays out a lump sum...
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Term Life Insurance Definition The basis for term life premiums is on a person’s age, health, and life expectancy, which is set by the insurer. If the person should die within the specified policy term, the insurer will pay the face value of the policy. Should the policy expire before the policyholder’s death, there is no payout. Policyholders may be able to renew a term policy at its expiration, but their premiums will be recalculated for their age at the time of renewal. Because it offers a benefit for a restricted time and provides only a death benefit, term life is usually the least costly life insurance available. A healthy 35-year-old non-smoker can typically obtain a 20-year...
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Highlighting Sustainable Development Goal #3—Good Health and Well-Being The Inter-American Development Bank (“IDB” or “IADB”), rated Aaa/AAA (Moody’s/S&P), priced a new 10-year fixed rate Sustainable Development Bond (“SDB”) focused on SDG#3 (Good Health and Well Being) in Australian Dollar (AUD) valued in 350 million, equivalent to $226 million. Japan Post Insurance Co., Ltd. is the sole investor of the bond with Wells Fargo Securities LLC being the arranger. This issuance follows IDB’s March announcement that it would direct up to $12 billion of additional lending to support countries in their response to the COVID-19 pandemic and its consequences. The IDB will concentrate support in...
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Midland Retirement Distributors Launches Summit Navigate WEST DES MOINES, Iowa, May 26, 2020 (GLOBE NEWSWIRE) -- Investors are well aware that in planning for retirement, few guarantees exist. The challenge has always been finding an ideal balance between growing money earmarked for retirement and simultaneously protecting it from volatility inherent in the market over a span of years. To address this growing concern, Midland Retirement Distributors – a distribution business of Sammons Institutional Group – is introducing a new fixed index annuity, or FIA, called Summit Navigate. This annuity is designed as an option for those nearing retirement and layers two interest-crediting...
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There are many term insurance benefits that make it an excellent investment to secure the financial safety of your family. One of the major benefits of a term insurance plan is the affordability of premium. It is possible to get a cover of Rs. 1 crore without spending a huge amount. Term insurance premiums purely reflect the risk of covering the life of the policyholder. For Non-smokers, premiums are lesser. Insurance companies also charge lesser premiums for healthy policyholders. Women policyholders typically enjoy lesser premiums than men. All these factors make it possible for people to opt for higher covers without it breaking the bank. The tenure for a term insurance plan lasts from...
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Things to consider with fixed-term insurance You decide you need fixed term life insurance. You venture online to check out some prices. But after that, it all gets a bit confusing. There are so many numbers, with a worrying amount of commas and zeros in them. How do you know how much fixed term insurance you need? The average cost of a 25-year, £200,000 life insurance policy in the UK is £29.72 per month . However, you might need more than that. On the other hand, you could save money by shortening your term. But, is a cheaper policy worth the gamble? Factors that affect the amount of coverage you need The primary reason why people take out life insurance is to provide financial security...
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FWD offers two life insurance policies that are purchasable online and do not require financial advice. First, FWD's Direct-term life insurance policies tend to be about 15% to 20% cheaper than the market average, while offering similar coverage to other classic Direct Purchase Insurance (DPI) term life policies, with up to S$400,000 of death, terminal illness & total and permanent disability coverage (TPD). FWD also offers a traditional term life policy, which is also about 5% to 20% cheaper than those of its competitors. This policy offers death and terminal illness coverage up to S$3 million, making it a suitable option for those that prefer higher death and terminal illness coverage...
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How do we Explain Term Life Insurance? Some people who have purchased insurance or have searched for quotes online may have missed the crucial discussion over permanent versus term insurance. A wrongly picked plan can do considerable damage, more than any other investment instrument available today. The most crucial decision you should make while purchasing coverage is deciding between permanent, term or a combination of both, but how do we explain term life insurance? Here we try to explain term life insurance and the benefits associated with it. We also take a look at some of the pitfalls of enrolling in this plan. It will help you in arriving at a better decision. Beneficial Features: A...
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