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?
Life insurance products
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
Philam Life launches insurance product with guaranteed payout (philstar.com) - September 1, 2018 - 2:12pm MANILA, Philippines — Philam Life, the premier insurance company in the Philippines, launches Income Assure 7, a single-pay plan that guarantees payouts of 3.5 percent of initial investment every year for seven years, ensuring a 24.5 percent total return. Assuming that no claims were made, customers receive their initial investment back at the end of the plan. Income Assure 7, the company's limited offer product, is designed to provide customers with a sense of security that their money is earning—and peace of mind that they will not experience any loss. “Our customers remain central to everything we do. In designing products, we make sure that these are created to address their needs, providing them with a financial solution that will help them live better,” says Leo Tan, Philam Life … [Read more...] about Philam Life launches insurance product with guaranteed payout
SINGAPORE: The life insurance industry reported a 20 per cent on-year increase in new business premiums for the first half of this year to reach a total of S$2.02 billion.This follows a record year in 2017, which was the first year the industry crossed the S$4 billion dollar mark in total weighted new business premiums.Speaking to the media, President of the Life Insurance Association (LIA) Singapore Mr Patrick Teow said, “This year’s midpoint is already much higher than last year’s midpoint, so if momentum continues, we will cross $4 billion for sure.”The LIA announced the industry results on Monday (13 Aug).Compared to a year ago, the year-to-date total sum assured, which includes individual life and health insurance rose 19 per cent to S$66.3 billion in June 2018 from S$55.9 billion in June 2017, pointing to an increase in protection.“We are happy that protection for people is increasing and that tells us that people are taking a serious … [Read more...] about Life insurance industry new premiums grow 20% in first half of 2018
Customers will get life coverage of 150 per cent of a single premium paid and an opportunity to gain higher investment returns by investing in mutual funds with an automatic fund re-balancing programme to maintain any desired investment targets free of charge. Tan Hak Leh, chief executive officer of AIA Thailand, said: “AIA has been committed to supporting Thais for life protection and financial stability by offering life insurance products together with long-term financial planning through bancassurance where a wider group of target customers can be reached. "AIA Thailand and Krungsri have been long-standing partners. The bank’s research found that the majority of customers want to not only ensure life protection, but also maximise their investment returns for the future. Therefore, we have jointly developed the Krungsri Unit Linked insurance solution to serve their needs of life protection and leading funds that provide them with an opportunity to get higher … [Read more...] about Krungsri launches life insurance