Life Insurance Roundup, April 26, 2016

Financial product: Southern Cross life insurance |

Southern Cross is the country’s largest health insurer by a country mile, but is has been expanding its portfolio of other insurances it sells to people.

As well as its health insurance policies, parts of the group sell travel insurance, critical care insurance, pet insurance, and now life insurance.

It’s head of product Chris Watney says it is a natural extension for the group, which is a not-for-profit owned by its members. 

Rio Olympics-bound Indian athletes to get Rs one crore life insurance for the first time – Firstpost

In a first of its kind move, the Olympics-bound Indian athletes were on Saturday presented life insurance cover worth Rs one crore even as the Indian Olympic Association roped in three sponsors in its quest for financial independence.

Edelweiss Tokio Life Insurance of financial conglomerate Edelweiss Group, which will be the principal sponsor of the Indian contingent at Rio Olympics, on Saturday offered a life Insurance cover of Rs 1 crore for each athlete representing India at the Rio Olympics. 

Manulife to insure those who are HIV-positive | Toronto Star

Working on behalf of HIV-positive women and sex workers over the last decade in Toronto, Yasmeen Persad knows full well that even the small victories matter when it comes to big corporations.

So the Toronto outreach worker was pretty pleased when Manulife Financial announced Friday that it will now accept applications for life insurance from people who are HIV-positive. 

Concord Monitor – Online form helps hunt for forgotten life-insurance policies

The New Hampshire Insurance Department has created an online form to help people look for life insurance policies that were bought in the state but forgotten about.

The Lost Life Policy Locator service was announced Friday, April 22.

“We developed this service to help those who have lost a loved one and suspect that he or she may have purchased an annuity contract or life insurance policy in the state,” said New Hampshire Insurance Commissioner Roger Sevigny. “We know that during this difficult time, tracking down a policy is often the last thing someone wants to think about.” 

Planning to take a life insurance? Few tips to keep in mind | The Financial Express

Life, with all its uncertainties, does not always follow a planned path. This is why you need to be prepared for different financial needs and financial vagaries that you may experience at different stages in life. It is thus financially prudent to plan and be prepared in advance. Here are a few tips on how to be prepared for the uncertainties that may come our way. 

Keep track of life insurance policies

Over the years, I have met with many families who have lost loved ones. We help make sure the loved one’s final wishes get carried out and their stuff gets to where it’s supposed to go.

Some people will pass away and all of their paperwork is supremely organized. They have binders containing lists of all their assets, account numbers, the institution where they are located and a contact person there. Other people aren’t as organized. 

Bangladesh embassy introduces life insurance police for maids | The National

The Bangladesh embassy has introduced an insurance policy to help dom­estic workers support their families in the event of their death or should they suffer ­major health problems.

If they should die, an insurance company will pay the family Dh42,000 and, in the case of injury, they will be granted relative financial support, according to the policy.

Other countries that send domestic workers to the UAE, such as the Philippines and Nepal, do not provide such cover and claim compensation through the courts in the event of an accident. 

Financial statements of life insurance companies faulty?

A public limited company is required to include a profit and loss account in its annual report. Public limited companies are born to do business with public money and therefore obliged to show profit or loss in their financial statements. Accounting and taxation without a profit and loss account is fundamentally wrong. Our life insurance companies are public limited companies but do not prepare a profit and loss account and do not show their profit or loss in their financial statements. This behaviour is inconsistent with both national and international accounting standards and other regulations. All life insurance companies around the world, except Bangladeshi companies, prepare profit and loss account which is the basic of accounting and taxation. What do our life insurance companies do? 

Best stocks of the day: China Life Insurance Co. Ltd. (NYSE:LFC) – News Journal

It looks like China Life Insurance Co. Ltd. (NYSE:LFC) had an excellent day at the stock market, with its price going up by -0.16%, to 12.17. This is a change of -0.25% from open which creates a gap of 0.08%. The total volume of shares traded was 383889 which puts the relative volume at 0.56 for the day. This is great news for the sector.

The stock went public on 12/17/2003 and has an average volume of 980.23. The weekly volatility is at 1.78% while the monthly volatility rests at 1.99%. 

Mortgage Matters: Down-payment options may make homeownership a reality | Life |

The most recent National Association of Realtors profile shows that 40 percent of repeat buyers and 66 percent of first-time homebuyers, are putting less than 10 percent down. Understanding all of your low-down-payment mortgage options may aid you in obtaining a mortgage while helping to save money.

Different types of mortgages can be tailored to purchase a home. If you’re looking to use a conventional loan and you made a down payment of less than 20 percent of the home’s value, you’re probably going to need mortgage insurance, commonly known as PMI. If using, for example, a government FHA loan, you’re going to need mortgage insurance, known as MIP. Confusing I know. 


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