Life insurance benefits that used to be popular among employers are fading away

life insurance benefits employee worker

A recent survey showed that employees are not seeing this type of coverage in their packages as much. While life insurance benefits used to be a standard part of many employer packages for their workers, fewer companies now offer them. This, despite the fact that employees still find the benefit to be an appealing one. The number of people who purchase life policies through group contracts is growing, but employers are stepping back. A new LIMRA survey revealed that there are up to 108 million Americans who currently have life…

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Life insurance industry experienced worldwide growth last year

life insurance rules market statistics

A new Swiss Re report has shown that there was a global gain in this sector, despite only slight economic improvement. Swiss Re, the global reinsurance company, has recently released a report that has shown that the global life insurance industry had managed to gain momentum in 2014, even though the economic situation saw only the slightest growth. The total number of direct premiums that were written increased by 4.3 percent. This is particularly notable following the trend in 2013, in which the total number of direct premiums written had…

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Life insurance industry growth in Singapore flattens

life insurance rules market statistics

The results from the first quarter of this year have shown that the total weighted premiums stumbled by 1 percent. Life Insurance Association Singapore has released its data from the first quarter of 2015 and what it has shown is that the industry has experienced a flattened growth rate at the same time that its total weighted premiums fell by a small 1 percent when compared to the same quarter in 2014. When all was said and done, the total weighted life premiums in Q1 arrived at about US$488.68 million…

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Life insurance is not proving its importance to the Millennial generation

Life Insurance Statistics

September is the month that recognizes this type of coverage, but young people are not convinced. This month is Life Insurance month and while there are some demographics that have a tendency to recognize the benefit of carrying this type of coverage, for others, such as the Millennial generation, the importance of this protection is not as clear. September is seen as an important time to review the policy and ensure that it is still appropriate to current needs. Every September, the life insurance sector reminds consumers to consider their…

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Life insurance awareness in Iraq remains low

life insurance awareness in Iraq

Despite the high level of violence in the country, many Iraqi people lack knowledge about the coverage. Even though there are hundreds of Iraqi people who die every month as a result of the violence that still plagues the nation, there remains a lack of awareness regarding life insurance throughout the population. It is believed that the lack of awareness is the primary reason that people are not covering their lives. According to the state-owned Iraq Insurance Company’s general manager, Sadiq Abdul Rahman, who reports directly to the Ministry of…

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Life insurance companies actively seeking out beneficiaries

Life Insurance

The industry is recommending that policyholders take actions to help to make sure death benefits are received. The life insurance industry has been facing some hurdles across many states as many companies have not made extensive efforts to locate the beneficiaries of policies belonging to individuals who have died. Insurers are now making a number of changes as states alter their requirements to find beneficiaries. However, the industry is also recommending that policyholders take a few extra steps to help to make sure that the money that they are paying…

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Life insurance will be experiencing higher premiums for term policies

Life Insurance News

In an environment with low interest rates, the cost of the coverage is on its way up. According to the data that has been released by an online life insurance comparison agency, term policies are becoming more expensive and are slightly more difficult to find than they used to be. This news comes after a decade in which prices had been consistently plummeting to record lows. However, the latest research from IntelliQuote has shown that the premiums that are being quoted for term life insurance policies increased by an average…

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Life insurance being used by parents for their kids’ student debt

health insurance for student

The overwhelming amounts that are owed are leading to some unique protection strategies. A life insurance trend has been building over the last short while that has parents taking out policies on their children in order to protect themselves against the overwhelming student debt that they carry. Many parents co-sign on student loans, leaving them at a considerable risk if their children should die prematurely. It is becoming increasingly common for parents to protect themselves from the debts of their children’s educations by purchasing life insurance policies following their graduation…

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Life insurance policies are experiencing a lapsing trend

india flag insurance industry

Insurers in India have been seeing an increase in the number of policies that have been allowed to lapse. Recent data released by the Insurance Regulatory and Development Authority (IRDA) in India has revealed that life insurance companies are experiencing a trend with an increase in policy lapses and forfeitures throughout the last financial year. This information was revealed within the authority’s annual report for the most recent fiscal year. Equally, the Life Insurance Corporation of India (LIC) a public sector insurer, revealed that it had experienced a lapse ratio…

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Life insurance more common among Indian consumers than world average

india flag insurance industry

The government of India has announced that the country’s residents have more coverage than the global median. According to the latest data released by the government of India, residents of that country have a larger overall life insurance coverage than the global average in 2010. The Minister of State for Finance Namo Narain Meena made the announcement in a written statement. Within the announcement, Meena said that “Life insurance penetration in India was higher than the world’s average in 2010 and the combined average is higher than Brazil and Russia…

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