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?
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The Boston-based insurer announced Thursday that it would immediately begin moving life insurance policies to a "behavior change platform that rewards customers for the everyday steps they take to live longer, healthier lives." Policyholders will be asked to sign up online for fitness and nutritional advice, or may get premium discounts for using devices such as Fitbit or Apple Watch to monitor daily activities. "For centuries, the insurance model has primarily provided financial protection for families after death, without enhancing the very quality it hinges on: life," said Marianne Harrison, John Hancock president and chief executive. "We fundamentally believe life insurers should care about how long and well their customers live. With this decision, we are proud to become the only US life insurance company to fully embrace behavioral-based wellness and leave the old way of doing business behind." One of the largest US life insurers, John Hancock said the new offering is aimed … [Read more...] about Big life insurer shifts to activity tracking in health push
Business John Hancock, one of the oldest and largest North American life insurers, will stop underwriting traditional life insurance and instead sell only interactive policies that track fitness and health data through wearable devices and smartphones, the company said on Wednesday. 19 Sep 2018 10:15PM Bookmark REUTERS: John Hancock, one of the oldest and largest North American life insurers, will stop underwriting traditional life insurance and instead sell only interactive policies that track fitness and health data through wearable devices and smartphones, the company said on Wednesday.The move by the 156-year-old insurer, owned by Canada's Manulife Financial Corp , marks a major shift for the company, which unveiled its first interactive life insurance policy in 2015. It is now applying the model across all of its life coverage.Interactive life insurance, pioneered by John Hancock's partner the Vitality Group, is already well-established in South Africa and Britain and … [Read more...] about Strap on the Fitbit: John Hancock to sell only interactive life insurance
China DigestEconomics and Policy from China's Newspapers According to the latest data, premium income for personal insurance was 1.63 billion yuan, an 8.5% decrease from a year earlier By Asia Times staff August 21, 2018 5:47 AM (UTC+8) Share Tweet Linkedin Print Email Share 0 Comment 0 Over the first half of 2018, the insurance industry recorded an original insurance premium income of 2,236.94 billion yuan, a decrease of 3.33% from a year earlier, Yicai.com reported. Of that amount, the premium income for personal insurance was 1.63 billion yuan, an 8.5% decrease from a year earlier, according to the latest data released by the China Banking and Insurance Regulatory Commission. It is worth noting that the life insurance business has declined significantly. Among the three major types of personal insurance, except for life insurance which saw a year-on-year decrease of 12.15% in premium income, both health insurance and accidental injury insurance have witnessed a … [Read more...] about Life insurance business declines significantly in 2018
MANILA - FWD Life Insurance said Wednesday its total premium income grew 50 percent in 2017, outpacing the industry. The Pan-Asian insurer which offers, among others, coverage specific to terrorist attacks and cancer, booked P4.55 billion in premium income last year. Year-on-year growth exceeded the industry's 11 percent during the same period, the company said in a statement. FWD said it had 100,000 customers in the Philippines at the end of last year, with market share of 3.5 percent based on weighted new business premiums. Total assets grew 59 percent to P9.79 while total investments grew 73 percent to P8.83 billion in 2017. "Our progress over the past three years and 2017 market outperformance continues to validate our challenger brand mindset and our vision to change the way people feel about insurance," said FWD Life Insurance Philippines president and CEO Peter Grimes. … [Read more...] about News FWD Life Insurance outpaces industry growth