Life Insurance Roundup, May 10, 2016

Max Life Insurance pays 96.23% claims – Times of India

Max Life Insurance has said it has achieved “a milestone” claims paid ratio of 96.23% in 2015-16. The outstanding claims ratio stood at 0.04% as on March 31, which means that only four claims were pending out of the total 9,244 claims received during the year. 

Life insurance is a do-it-all tool for the wealthy – The Globe and Mail

For most of us, a doctor’s visit and a lifetime of affordable premiums give our loved ones some financial security upon a parent’s or spouse’s death. For high-net-worth people, more complicated finances and a riskier lifestyle can make life insurance more complex. 

After slow start, life insurance takes off, Business, Phnom Penh Post

Life insurance is experiencing explosive growth, leading the pack among all insurance products by year-on-year premium growth during the first quarter of 2016, according to the latest industry figures. 

Life insurance companies deny coverage to those with cancer genes like BRCA | Genetic Literacy Project

Many women who’ve been diagnosed with breast cancer get tested for cancer genes like BRCA 1and 2. Even after those tests, women can still get healthcare because of Federal legislation barring health insurers from discriminating on a genetic basis. However, the same can not be said of life insurance and men and women who have taken genetic tests for a variety of reasons are being denied coverage. 

Why is life insurance the most important financial product you will ever buy?

You may think that life insurance is not important for you and that your savings and investments alone will take care of your family’s future requirements. But just consider this: if you fill up Eden Gardens stadium with 60,000 people, around 420 of them will die in this year alone. Of this, some 130 people would be in the age group of 15-60 years. Now, what will happen if you are one of those unlucky ones? Who would take care of your aged parents or your spouse and children in your absence? 

Permanent life insurance: offering benefits at any age | | The Sabetha Herald

With life expectancies expected to rise, many Americans can expect to live 20 to 30 years in retirement. For many people, the perception of retirement may lead to thoughts of pursuing passions and accomplishing long-standing goals, such as exotic travel or new business pursuits. 

Manulife to cut down on insurance application medical tests – The Globe and Mail

Applying for life insurance is about to get a little less invasive at Manulife Financial Corp. The Toronto-based insurer is doing away with drawing blood, testing urine and collecting other biometric data for term life insurance policies of up to $1-million, purchased by new customers from ages 18 to 40. 

Ron Bliss: Life insurance can be better than pension reduction for spouses |

We ran into a situation this week where one of our clients reduced his pension by 30 percent to allow that pension to be transferred to his wife upon his death. 

Anbang Said to Face Inspection by China’s Insurance Regulator – Bloomberg

China’s insurance regulator is planning to send inspectors to Anbang Insurance Group Co., a person with knowledge of the matter said, after the watchdog stepped up scrutiny of insurers’ investments in real estate and unlisted equities. 

Australia’s insurance growth to decrease | Money Management

While the global insurance industry has improved over the last 12 months with Asia being a huge driver, Australia is set to slip in growth ranks, according to Munich RE. 


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