No one who comes of age and lands a job can escape the inevitable – that is an insurance sales agent who comes knocking. Looking back, I am ashamed to admit that many of my not-so-proud moments came from evading unplanned encounters with relatives and acquaintances who decided to try their hand at selling life insurance. What can I say? I was young, not savvy with small talk, have yet to learn to say no, and truthfully, my income could barely cover the bills. Now I’d like to think I know better and even go out of my way to set planned meetings with insurance specialists to protect my daughters’ financial future. If I knew then what I know now, I would have managed those “ambush” meetings better, and might have come away with sound investments too. NO MAGIC AGE Is there a right age to buy life insurance? According to Melvin Esteban, wealth management executive with Insular Life Assurance Co. Ltd., there is no magic age or line in the sand when one has to … [Read more...] about News Is there a right age to buy life insurance?
20 year term life insurance
Claude A, Accum, President of Sun Life Financial Asia, a Canada-based financial services company, views Asia as having a bright outlook for the insurance industry and believes that accessing the best brains from the companies he leads in the region paves the way to achieving growth. Asia’s increasing GDP and population growth have favoured Sun Life Financial Asia’s business in the region, with the company’s policy of investing in local career paths, such as by hiring local CEOs, proving effective in strengthening its customer base, according to a top foreign insurance executive. Claude A. Accum, President of Sun Life Financial Asia, a Canada-based financial service company, said that two thirds of Sun Life Financial’s customer base was expected to be outside Canada, with a large portion expected to be in Asia in the next five years. “A quarter of Sun Life Financial’s income can come from Asia,” said Claude, who was appointed as President … [Read more...] about Driving insurance growth in Asia by hiring local CEOs
SINGAPORE - Temasek Holdings warned of increased near-term downside risks even as buoyant stock markets lifted its portfolio to a 12.19 per cent one-year return for the financial year ended March 31, 2018. The Singapore government-owned investment firm's net portfolio value grew to a record $308 billion, up from $275 billion a year ago, according to its annual report released on Tuesday (July 10). A year ago, the portfolio returned 13 per cent. The latest results came as key listed holdings posted strong gains over the year; market capitalisation grew 44 per cent for DBS Group Holdings, 91 per cent for Ping An Insurance and 73 per cent for Alibaba Group Holding. Annualised returns over 20 years was 7 per cent, up from 6 per cent a year ago. Dividend income was $9 billion for the year. Net profit improved to $21 billion from $14 billion a year earlier, Temasek said. During the year under review, Temasek invested $29 billion and divested $16 billion. That reversed the net divestment … [Read more...] about Temasek posts record portfolio of $308b but warns of higher near-term risks
Just like people in Japan continue to outlive those in other countries, their pets are falling in line with longer life expectancies, thanks to advances in medical science. But as owners increasingly worry about soaring medical bills, they are taking out private pet insurance to lessen the burden. The market, which covers pets such as cats and dogs, has seen annual growth of nearly 20 percent and was worth about 49 billion yen ($450 million) as of the end of March last year, according to a private survey. The life expectancy of pets has risen partly because veterinary hospitals are taking care of a growing number of injured or sick pets. Faced with the prospect of shouldering huge medical bills, many pet owners have opted to take out insurance policies. The Japan Pet Food Association has estimated the population of domestic pet dogs at 8.92 million and pet cats at 9.52 million in 2017. While the number for felines has been unchanged in recent years, the figure for dogs has declined. … [Read more...] about Pet insurance market in Japan expanding due to rising vet bills
SINGAPORE - Another piece of the jigsaw to prepare Singapore for its ageing population, a national long-term care insurance to provide financial aid to those afflicted with severe disability, will be launched in 2020. Called CareShield Life, the government-run scheme will be compulsory, automatically getting everyone who is between the ages of 30 and 40 in 2020 to start paying premiums. Future cohorts will join at the age of 30. For them, the scheme replaces the optional ElderShield, offered by private insurers. CareShield's scope of coverage is also wider. Premiums start at $206 a year for men and $253 a year for women at the age of 30. They will make 38 payments till the age of 67. Should disability strike and a policyholder require care, he will receive a payout of at least $600 a month, for as long as care is needed. In contrast, the ElderShield scheme pays $400 a month for up to six years, but with lower premiums paid over a shorter period. People over 40 years old in 2020 … [Read more...] about New mandatory CareShield Life replaces ElderShield in 2020, will offer wider coverage for severely disabled