Mention life assurance and people tend to think about life insurance policies benefiting a family in the event of the death of – usually – the main breadwinners. With such policies, the premiums have been paid out of general household income – significantly, income upon which they’ve already had to pay tax and national insurance. For business owners though, there is an option available which provides the same benefits of cover – but with the premiums paid by their company. A relevant life policy, also known as relevant life cover, is therefore a tax efficient way of putting life cover in place for company owners or directors. Life assurance: what is relevant life insurance? Relevant life...
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Fitch assigns 'A-' Insurer Financial Strength rating with stable outlook to the operating insurance subsidiaries of Ohio National Financial Services Fitch views Ohio National’s risk-adjusted capitalization as strong Stable outlook reflects Fitch’s view the company is well positioned in a challenging external environment CINCINNATI, July 29, 2020 (GLOBE NEWSWIRE) -- Ohio National Financial Services announced today that Fitch Ratings has assigned ratings for the financial strength of The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation at ‘A-‘ with stable outlook. The ‘A-’ rating is Fitch’s seventh-highest rating on a 21-part scale. According to Fitch,...
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Kenya Life Insurance: Key trends and Opportunities to 2023 is latest research study released by HTF MI evaluating the market, highlighting opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support. The influencing Factors of growth and regulations with respect to the usage of the information, availability of highly reliable products in the market, and increase in operational efficiency of Kenya Life Insurance: Key trends and Opportunities to 2023 study provides information on market trends and development, drivers, capacities, technologies, and on the changing dynamics of Kenya Life Insurance: Key trends and Opportunities to 2023 Market . As per...
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Apollo Announces Further Expansion of its Insurance Asset Management Business Athene and other transactions along with internal growth to add nearly $80B in pro-forma insurance assets NEW YORK, June 18, 2020 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo” or the “Firm”) today announced expansion of its insurance asset management business, as Athene Holding Ltd. (NYSE: ATH) (“Athene”) has entered into a fixed annuity block reinsurance transaction with Jackson National Life Insurance Company (“Jackson”), a subsidiary of Prudential plc (LSE: PRU), with the support of Athene Co-Invest Reinsurance Affiliate (“ACRA”). Under...
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Protecting your loved ones is very important; that’s why it’s best we help you to protect what matters, when it matters! We can source the best products for you to help you make an informed choice. Life Insurance is the most basic form of cover you can buy as it guarantees to pay a certain amount if you die within a certain period. As the cover is in its simplest form, it is generally the cheapest way to buy your cover. Life insurance can protect your family from the financial implications of a personal tragedy and is particularly important if you have young children or dependents. The policies are referred to as Term Insurance, because the cover lasts for a certain term of years. The...
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Life Insurance Loading is the term used to describe the increase in cost of a life insurance policy due to the perceived extra risk involved. A loading may be applied for someone with a pre existing medical condition, a hazardous pastime or a dangerous occupation. How it works When the life insurance company receives your application, they assess the information it contains. On the basis of this, they decide whether they require any further information. For instance, medical details may be obtained from your doctor and a medical examination may be required. With all this information, the insurance company underwriter is then in a position to calculate if there is any increased risk of a...
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A Term life insurance plan is the most basic form of life insurance and is usually the cheapest way to insure your life. It covers you for a fixed period and pays out a one off lump sum if you die during the policy term. With some term insurance policies you can add additional options, for instance critical illness cover. If you do add on critical illness cover, the plan will pay out once on diagnosis of a qualifying critical illness or if you die during the term of the policy. This type of plan is designed for those who want to leave a lump sum in the event of their death within a specified time period whilst keeping the cost to a minimum. Term assurance can protect your family from the...
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There is a common misconception between the terms ‘life assurance’ and ‘life insurance’, with many people thinking they are synonymous. However, there is a distinct difference between the two. Assurance is something with is ‘assured’ to happen; i.e. in this case; your death. Therefore, a life assurance policy pays out ‘when’ you die, not ‘if’ you die. Life assurance policies usually have some investment element to them so that they build in value over time. Because of this, it is usually more expensive than a life insurance policy. Life insurance, on the other hand, is based on something which might happen (again, your death); but during a specific time period. Life insurance policies are...
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We’ve partnered with AIA Australia because we believe in providing the right life insurance cover for the right circumstances. Looking for information on coronavirus (COVID-19)? This information has been prepared without considering your personal objectives, financial situation or needs. Before acting on it, please consider its appropriateness to your circumstances. Refer to the relevant Product Disclosure Statement and Financial Services Guide for full benefit details, terms, conditions and exclusions. Life Insurance policies are issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA). CMLA is a wholly owned but non-guaranteed subsidiary of the...
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In the once quiet and stable life insurance sector, the transformation of business practices and customer expectations is now well underway. In a marketplace where customers expect detailed insight and a highly personalised service, the models and procedures of the past are now severely lacking. By modernising, particularly through digital services, insurers currently have an opportunity to differentiate themselves in a crowded market. According to Deloitte’s 2017 Insurance Outlook report, operators in the life insurance and annuity sector have a significant growth opportunity by making products that are more straightforward and relevant to individuals’ needs. For a product like life...
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