Viet Nam’s insurance industry achieved high year-on-year growth of 24 per cent in 2018, the fifth consecutive year the industry posted annual growth of more than 20 per cent. According to the Insurance Association of Vietnam (IAV), total revenue of the country’s insurance companies this year is expected to reach VND133 trillion (US$5.68 billion), higher than the industry’s annual target of VND129.24 trillion set early this year. Of the total, life insurers contributed VND87 trillion in revenue, up 33.8 per cent year-on-year, while non-life insurers made up VND45 trillion, up 12 per cent. The financial status of local insurers has also continued to improve this year, with total assets surging by 21 per cent year-on-year to VND384 trillion, VND302 trillion of which came from life insurers. Insurance companies re-invested VND319 trillion into the economy, marking a one-year rise of 29 per cent, in addition to paying out VND36 trillion to customers. “Viet … [Read more...] about Strong year for insurance industry
20 year life insurance rates
Life insurance provides a financial safety net for families. Sounds simple, but decisions over whether and how much to buy can get complicated, and mistakes can be costly. Here are common mistakes financial planners see: BUYING TOO MUCH OR NOT ENOUGH Not everyone needs life insurance. "If there's no one else depending on your income, you probably don't need much or any at all," says Alyssa Lum, certified financial planner and founder of Luminate Financial Planning in Sterling, Virginia. But those with young children will need a lot. For breadwinners, a rule of thumb is at least seven times your annual salary, plus money to pay off debt and fund college. "Those dollars really add up," Lum says. Stay-at-home parents don't need as much, but should have some coverage, says Greg Klingler, a certified financial planner and director of wealth management for the Government Employees' Benefits Association. Buy enough to cover child care and other services that the stay-at-home parent provides. … [Read more...] about Don’t make these big life insurance blunders
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 Is there a right age to buy life insurance?
Breaking News Emails Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings. SUBSCRIBE 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 is becoming more widespread in the United States. Policyholders score premium discounts for hitting exercise targets tracked on wearable devices such as a Fitbit or Apple Watch and get gift … [Read more...] about Major life insurer says all customers can opt-in to wear health trackers
Sections SEARCH Skip to content Skip to site index Subscribe Log In Subscribe Log In Today’s Paper Advertisement Supported by Wealth Matters ByPaul Sullivan Sept. 19, 2018 Brian and Carla Restid, a couple in their mid-60s, bought life insurance four years ago to protect their lifestyle in retirement. A year later, they upgraded to a pilot program offered by the insurer to get fitter, healthier and more energized. In exchange for working to improve their well-being and providing details about the process, they have saved $700 so far in premiums. “It provided a way for me to be accountable to myself,” said Mrs. Restid, 67, who has an autoimmune disease that has slowed her down. “It provided me a way to get going and keep going. I was exercising before, but it wasn’t at the forefront of my mind. This set me on a life-changing program.” Starting on Wednesday, the program they joined, known as … [Read more...] about Life Insurance Offering More Incentive to Live Longer