Life insurance – Intuttitalia http://intuttitalia.com/ Fri, 20 May 2022 05:30:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://intuttitalia.com/wp-content/uploads/2021/10/icon-2-120x120.png Life insurance – Intuttitalia http://intuttitalia.com/ 32 32 Ageas acquires majority stake in Indian life insurance joint venture Ageas Federal Life https://intuttitalia.com/ageas-acquires-majority-stake-in-indian-life-insurance-joint-venture-ageas-federal-life/ Fri, 20 May 2022 05:30:00 +0000 https://intuttitalia.com/ageas-acquires-majority-stake-in-indian-life-insurance-joint-venture-ageas-federal-life/ Ageas acquires majority stake in Indian life insurance joint venture Ageas Federal Life Ageas today announces the signing of an agreement to acquire IDBI Bank’s 25% stake in the Indian life insurance joint venture Ageas Federal Life Insurance Company Ltd. (AFLIC). With this transaction, Ageas will increase its stake in the joint venture it currently […]]]>

Ageas acquires majority stake in Indian life insurance joint venture Ageas Federal Life

Ageas today announces the signing of an agreement to acquire IDBI Bank’s 25% stake in the Indian life insurance joint venture Ageas Federal Life Insurance Company Ltd. (AFLIC).

With this transaction, Ageas will increase its stake in the joint venture it currently operates with IDBI Bank and Federal Bank to 74%. The Federal Bank maintains its 26% stake in AFLIC. IDBI exits as a shareholder but remains a distribution partner. This transaction is a second step for Ageas after increasing its stake from 26% to 49% in December 2020. (read the corresponding press release)

This investment is in line with Ageas’ strategy to expand in regions where it is already present and in promising markets with low insurance penetration rates and high growth potential, such as the Indian insurance market. life insurance.

Ageas will pay IDBI Bank a total consideration of INR 5.8 billion (EUR 69 million) in cash for the 25% stake in AFLIC.

The transaction is subject to regulatory approval and is expected to close in the second half of 2022.

This investment offers Ageas a unique opportunity to take control of one of its operating entities in Asia. I would like to take this opportunity to express my gratitude to the management and employees of IDBI Bank for their contribution over the past 16 years in bringing the company to where it is today: a highly valued life insurance business. and profitable. Our ambition is to continue this success with our long-standing partner Federal Bank, and to further develop the business in what is one of the world’s largest and fastest growing economies and a high potential market. long-term.
Hans De Cuyper, CEO of Ageas

At the end of 2006, Ageas, IDBI Bank and Federal Bank established the life insurance joint venture IDBI Federal Life Insurance Company Ltd. Since then, its gross inflows have steadily grown to reach EUR 247 million in 2021. In six years, the company has been and has continued to be profitable, generating a net profit of EUR 9 million in 2021.

ageas is a listed international insurance group, with a heritage of nearly 200 years, offering individuals and businesses Life and Non-Life insurance. As one of Europe’s largest insurance companies, Ageas focuses its business in Europe and Asia through a combination of wholly-owned subsidiaries and long-term partnerships with strong financial institutions and key distributors . Ageas ranks among the market leaders in the countries where it operates. It represents a workforce of approximately 40,000 people and declared annual inflows close to 40 billion euros in 2021 (figures at 100%).


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Wyshbox Life Insurance Expands Availability to 33 States + DC https://intuttitalia.com/wyshbox-life-insurance-expands-availability-to-33-states-dc/ Tue, 17 May 2022 14:54:00 +0000 https://intuttitalia.com/wyshbox-life-insurance-expands-availability-to-33-states-dc/ Now more Americans can get hyper-personalized life insurance policies that can fulfill their afterlife dreams MILWAUKEE, May 17, 2022 /PRNewswire/ — Wyshbox, an all-digital life insurance that offers coverage as low as $9 per month* for $155,000 in life insurance, has grown from 10 US states to 33 and washington d.c.. “We are committed to […]]]>

Now more Americans can get hyper-personalized life insurance policies that can fulfill their afterlife dreams

MILWAUKEE, May 17, 2022 /PRNewswire/ — Wyshbox, an all-digital life insurance that offers coverage as low as $9 per month* for $155,000 in life insurance, has grown from 10 US states to 33 and washington d.c..

“We are committed to bringing personalized and affordable life insurance to everyone in the United States, and this upcoming expansion is very exciting as we get closer to achieving our goal,” says Wyshbox Founder and Head of Goal and vision, Alex Matjanec.

Wyshbox Life Insurance is unique in that it allows users to create “Wyshes”, which are the areas of your financial life that you would want to protect if you died unexpectedly. Users can choose wishes such as paying funeral expenses, paying off your mortgage, or even leaving future school fees for your children. There are also no medical exams*, and the subscription health questionnaire can take a few minutes to complete and get your quote.

To deliver such a unique approach to life insurance, Wyshbox has assembled a team of “Wysh Granters”, a premium concierge service who can work with your beneficiaries to help your wyshes come true.

Wyshbox is available on www.wyshbox.com as well as in the iOS and Android app store.

Wyshbox is now available in:

  • Alaska
  • Arizona
  • Arkansas
  • Delaware
  • District of Colombia
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Louisiana
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Mexico
  • North Carolina
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • West Virginia
  • Wisconsin
  • Wyoming

About Wyshbox
Wyshbox was launched in 2021 by Wysh Life and Health Insurance Company and offers customizable term life insurance plans through a fully digital process.*

Media Contact:
media@wyshbox.com

Copyright © 2022 Wysh Life and Health Insurance Company
* Disclosures to: www.wyshbox.com/ad-disclosures

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Pan-American Life Insurance Group Implements Box to Optimize Cloud Content Management https://intuttitalia.com/pan-american-life-insurance-group-implements-box-to-optimize-cloud-content-management/ Tue, 10 May 2022 16:00:00 +0000 https://intuttitalia.com/pan-american-life-insurance-group-implements-box-to-optimize-cloud-content-management/ Box, Inc. BOXthe content cloud leader, today announced that Pan-American Life Insurance Group (PALIG), a leading provider of life, accident and health insurance across the Americas, has deployed Box’s content cloud across its organization while seamlessly integrating with its best cloud applications. For more than 110 years, PALIG has earned the trust of millions of […]]]>

Box, Inc. BOXthe content cloud leader, today announced that Pan-American Life Insurance Group (PALIG), a leading provider of life, accident and health insurance across the Americas, has deployed Box’s content cloud across its organization while seamlessly integrating with its best cloud applications.

For more than 110 years, PALIG has earned the trust of millions of customers across the Americas by providing reliable financial security and peace of mind so they can protect what matters most – individuals, families, their business and their future. To support its workforce of 2,100 employees who serve millions of customers in 49 states, Latin America and the Caribbean, PALIG leverages a modern cloud technology stack with Box as its content layer to drive seamless collaboration and digital experiences for employees and customers while adhering to strict standards. security and compliance requirements.

“By leveraging Box’s thoughtful implementation approach, we were able to implement Box at record speed across our vast footprint. Their library of prebuilt integrations and flexible integration model greatly reduced our implementation risks and led to an extremely successful outcome,” said Miguel Edwards, CIO at PALIG. “Box’s robust security and data governance features were key in the decision to partner with Box and honor our commitment to policyholders, brokers and employees.

“PALIG is a leader in the insurance industry and a great example of how to leverage modern technology to dramatically improve the employee and customer experience,” said Aaron Levie, co-founder and CEO of Box. “We are thrilled to be a strategic technology partner of PALIG, powering content management and collaboration for their workforce.”

Box enables many of the world’s largest and most regulated companies to accelerate business processes, enhance workplace collaboration, and protect valuable information. With today’s announcement, PALIG joins leading global organizations that have adopted Box’s Content Cloud to create new ways of working.

ABOUT THE BOX

Box BOX is the leading content cloud that enables organizations to accelerate business processes, enhance workplace collaboration, and protect their most valuable information, all while working with an industry-leading enterprise computing stack. Founded in 2005, Box simplifies the work of leading global organizations including AstraZeneca, JLL and Morgan Stanley. Box is headquartered in Redwood City, California, and has offices in the United States, Europe, and Asia. To learn more about Box, visit http://www.box.com. To learn more about how Box helps nonprofits fulfill their missions, visit Box.org.

ABOUT PAN AMERICAN LIFE INSURANCE GROUP

Pan-American Life Insurance Group (PALIG), a leading provider of life, accident and health insurance across the Americas, providing trusted financial services since 1911. The New Orleans-based group is comprised of over of twenty member companies, employs more than 2,100 worldwide, and provides premium individual and/or group life, accident and health insurance, employee benefits and financial services in 49 states, the District of Columbia (DC), Puerto Rico, the US Virgin Islands and throughout Latin America and the Caribbean. The Group has branches and subsidiaries in Costa Rica, Colombia, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Panama and in 13 Caribbean markets including Barbados, Cayman Islands, Curaçao and Trinidad -and-Tobago. For more information, visit the Pan-American Life website at palig.comLike us on facebook @PanAmericanLifeFollow us on twitter @PanAmericanLifeand join us on LinkedIn at Pan American Life Insurance Group.

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Pan-American Life Insurance Group recognized as one of America’s Best Managed Companies https://intuttitalia.com/pan-american-life-insurance-group-recognized-as-one-of-americas-best-managed-companies/ Mon, 09 May 2022 13:00:00 +0000 https://intuttitalia.com/pan-american-life-insurance-group-recognized-as-one-of-americas-best-managed-companies/ Pan-American Life, a leading provider of life, accident and health insurance across the Americas, is proud to announce that it has been selected as one of America’s Best Managed Companies for 2022 Sponsored by Deloitte Private and The Wall Street Journal, the program recognizes outstanding U.S. private companies and the achievements of their management teams. […]]]>

Pan-American Life, a leading provider of life, accident and health insurance across the Americas, is proud to announce that it has been selected as one of America’s Best Managed Companies for 2022 Sponsored by Deloitte Private and The Wall Street Journal, the program recognizes outstanding U.S. private companies and the achievements of their management teams.

This press release is multimedia. See the full version here: https://www.businesswire.com/news/home/20220509005120/en/

Best Managed Companies in the United States (Chart: Business Wire)

The 2022 nominees are private U.S. companies that have demonstrated excellence in strategic planning and execution, a commitment to their employees, and fostering a vibrant and resilient culture and strong finances. This year’s nominees have continued to propel their businesses by prioritizing their purpose, investing in their people and demonstrating their commitment to diversity, equity and inclusion.

“We are honored to be named one of America’s Best Managed Companies, as it recognizes the dedication of our resilient team, our customer-centric focus, and our enduring financial strength under extraordinary circumstances,” said José S. Suquet, Chairman of the Board and Chief Executive Officer of Pan-American Life Insurance Group. “This remarkable achievement is a testament to how, together, we have risen to meet the challenges of the moment, to deliver on our promise to be there for our customers when they need us most.”

Applicants are assessed and selected by a panel of external judges focused on assessing the characteristics of excellence in four key areas: Strategy, Ability to Execute, Corporate Culture, and Governance/Financial Performance. They join a global ecosystem of winners from over 40 countries recognized by the Best Managed Companies program.

About Pan American Life Insurance Group

Pan-American Life Insurance Group (PALIG), a leading provider of life, accident and health insurance across the Americas, providing trusted financial services since 1911. The New Orleans-based group is comprised of over of twenty member companies, employs more than 2,100 worldwide, and provides premium individual and/or group life, accident and health insurance, employee benefits and financial services in 49 states, the District of Columbia (DC), Puerto Rico, the US Virgin Islands and throughout Latin America and the Caribbean. The Group has branches and subsidiaries in Costa Rica, Colombia, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Panama and in 13 Caribbean markets including Barbados, Cayman Islands, Curaçao and Trinidad -and-Tobago. For more information, visit the Pan-American Life website at palig.comlike us on Facebook @PanAmericanLifefollow us on Twitter @PanAmericanLifeand join us on LinkedIn at Pan American Life Insurance Group.

About the Best Managed Companies Program

The Best Managed Companies program is a mark of excellence for private companies. US delegates have incomes of at least $250 million. Hundreds of private companies around the world have competed for this designation in their respective countries through a rigorous and independent process that assesses four key criteria in their management skills and practices – strategy, execution, culture and governance/finance. Sponsors of the US program are Deloitte Private and The Wall Street Journal. For more information, visit www.usbestmanagedcompanies.com.

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How long does it take to get a life insurance payout? https://intuttitalia.com/how-long-does-it-take-to-get-a-life-insurance-payout/ Sat, 07 May 2022 14:00:03 +0000 https://intuttitalia.com/how-long-does-it-take-to-get-a-life-insurance-payout/ NEW-YORK – May 7, 2022 – ( Newswire.com ) iQuanti: No one knows when their time will come, which is why life insurance is so important. It gives you peace of mind knowing that your loved ones will be financially taken care of if something happens to you. Get integer or term life insurance quote […]]]>

NEW-YORK – May 7, 2022 – (

Newswire.com

)

iQuanti: No one knows when their time will come, which is why life insurance is so important. It gives you peace of mind knowing that your loved ones will be financially taken care of if something happens to you.

Get integer or term life insurance quote is the easy part, but what exactly happens after you die? Keep reading to find out how long it takes to get a life insurance payout.

What is a life insurance payout?

As long as you keep your policy in good standing, your life insurance company will pay a benefit to your named beneficiary when you die.

The life insurance indemnity is the sum of money paid by the insurance company to the policyholder or your dependents on your death. Your beneficiaries can use it to cover funeral expenses, pay off debts, living expenses or for other purposes.

How long does it take to get paid?

The answer depends on the type of policy you have. If you have a term life insurance policy, the benefit will be paid if you die during the term of the policy. For example, if you have a 20-year term life insurance policy and you die two years after the policy begins, the benefit will be paid to your beneficiary.

If you have a permanent life insurance policy, the benefit will be paid as long as your policy is in force. So if you die fifty years after purchasing a permanent life insurance policy, the benefit will be paid to your beneficiary.

In some cases, the benefit can be paid within 24 hours of your death, but it usually takes about 30 days for the life insurance company to process a claim and send the money to beneficiaries. If there are complications, it could take longer.

The insurance company will need to confirm that the insured is deceased and that the policy is in force. They will also have to determine who the beneficiaries are. Once the insurance company has everything they need, they will send the money to the beneficiaries.

If named as primary beneficiaries, they will receive the full amount of the death benefit. If there are secondary beneficiaries, they will receive a portion of the death benefit.

How is life insurance paid to beneficiaries?

The death benefit can be used for any purpose, but it is often used to cover final expenses, such as funeral expenses and unpaid debts. It can also be used to replace lost income.

There are four different death benefit payment options:

  1. Lump sum: A one-time, tax-free payment to the beneficiary.
  2. Payments: A series of payments made to the beneficiary over time.
  3. Annuity: A stream of payments made to the beneficiary over time, usually over several years.
  4. Life insurance contract: The death benefit is paid as a life insurance policy to the beneficiary, who can then use the policy proceeds for any purpose.

The essential

Your life insurance company will pay a death benefit to your named beneficiaries after your death. Depending on the verification process, your beneficiaries may receive payment as quickly as 24 hours after your death or it may take more than 30 days.

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How long does it take to get a life insurance payout?

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4 tips for buying an affordable life insurance policy https://intuttitalia.com/4-tips-for-buying-an-affordable-life-insurance-policy/ Fri, 06 May 2022 12:00:08 +0000 https://intuttitalia.com/4-tips-for-buying-an-affordable-life-insurance-policy/ NEW-YORK – May 6, 2022 – ( Newswire.com ) iQuanti: If you’re buying life insurance, you might be wondering how to find a life insurance policy you can afford. There are a few tips to keep in mind when looking for an affordable life insurance policy. Read on to find out what they are so […]]]>

NEW-YORK – May 6, 2022 – (

Newswire.com

)

iQuanti: If you’re buying life insurance, you might be wondering how to find a life insurance policy you can afford.

There are a few tips to keep in mind when looking for an affordable life insurance policy. Read on to find out what they are so you can find a financially manageable policy.

1. Understand your life insurance needs.

First, understand what you want from your policy in the first place. Looking for a way to leave your family and loved ones an important legacy? Are you trying to manage your family’s burial and funeral expenses? Do you need to save money while allowing for a significant death benefit?

Get an accurate picture of your financial situation, as well as your goals for your life insurance and the amount you would like to leave to your beneficiaries. These are important steps in finding a life insurance policy with manageable premium payments that will also support your family.

2. Choose a font with the offers you need.

Once you have a clear idea of ​​your insurance needs, you can research the type of policy that is best for you. If one of your main goals is to find an affordable life insurance policy, you may want to focus your search on term life insurance options.

Term life insurance policies remain in force for a predetermined length of time, usually between 10 and 30 years, and typically offer lower premium payments than other choices, such as permanent life insurance policies. However, once this policy expires, your death benefit also expires, so be careful when choosing the length of your policy.

3. Get information from life insurance providers.

Once you have chosen the policy you want, you can start looking at insurers’ offers. Research their products thoroughly and understand any exceptions or exclusions their coverages might have. You will also want to understand how their premium rates may change based on factors such as age and medical history.

Many insurers also offer more affordable and simplified versions of a similar product. For example, some companies may offer a cheaper term life insurance policy with fewer benefits or additional endorsements. By doing your research, you can find these offers and benefit from them.

4. Get life insurance as soon as possible.

If your goal is to find an affordable life insurance policy, one of the best things you can do is purchase your policy as soon as possible. Not only will you be creating your life insurance safety net earlier in life, but you’ll also be locking in a more affordable premium payment.

It’s also a good idea to lock in a premium rate before age-related health or medical issues cause your premium to increase. This way you can save money compared to buying at an older age.

An affordable insurance plan is a manageable insurance plan

You always want to look for a life insurance plan that you can afford. After all, failure to pay your life insurance payments can potentially nullify any death benefit your beneficiaries may receive.

Once you’ve found a policy you can afford, you can start making regular payments on your coverage and enjoy the security and peace of mind that a life insurance policy can provide.

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Life Insurance Corp’s $2.7 billion Indian IPO fully subscribed https://intuttitalia.com/life-insurance-corps-2-7-billion-indian-ipo-fully-subscribed/ Thu, 05 May 2022 07:00:00 +0000 https://intuttitalia.com/life-insurance-corps-2-7-billion-indian-ipo-fully-subscribed/ DUBAI: Aiming to become a global wellness hub, AMAALA has merged under The Red Sea Development Co. with its own tourism projects. “AMAALA is all about wellness, ultra-luxury hospitality and caters to a different segment to the rest of the development along the Red Sea,” said Ahmed Ghazi Darwish, Administrative Director of TRSDC and AMAALA. […]]]>

DUBAI: Aiming to become a global wellness hub, AMAALA has merged under The Red Sea Development Co. with its own tourism projects.

“AMAALA is all about wellness, ultra-luxury hospitality and caters to a different segment to the rest of the development along the Red Sea,” said Ahmed Ghazi Darwish, Administrative Director of TRSDC and AMAALA. , to Arab News on the sidelines of the Arab Travel Market. “We want to be the best wellness center in the world.”

The first phase of the ambitious project will be completed by the end of 2024, which will include SR5 billion ($1.3 billion) in signed contracts. The luxury destination has also emphasized the localization of projects, with 78% of contracts awarded to Saudi contractors. The company will develop nine resorts by the end of 2024.

Technology has been incorporated into the plans, with the aim of making The Red Sea Project and AMAALA fully functional smart cities.

“There is huge potential for digital destinations for the Red Sea and AMAALA projects, both will absolutely be smart cities,” Darwish said. “We are working on getting sensors for the environment to monitor our impact and help us get the right data. At the same time, we will rely heavily on technology for a smoother customer journey. »

While TRSDC is responsible for the development of both projects, AMAALA will focus on wellness. The sovereign wealth fund, PIF, owns 100% of the two mega-tourism projects.

Therapeutic strategy

The development is very promising in light of the 2021 Global Wellness Economy report, which forecasts an annual growth rate of 21% from 2020 to 2025. The report also highlighted that wellness travel is expected to exceed all other sectors of the whole. welfare economics.

“AMAALA’s topography is different from the rest of the Red Sea; there are mountains next to the sea and an island,” Darwish said.

“We are starting from zero for tourism, so it’s a clean slate. We want to focus on the sustainability of regenerative tourism. Beyond green practices, we want to be a regenerative tourism hotspot and have a better impact on the place than when we started.

The Red Sea Project aims to attract tourists and visitors from all over the world. But for this to happen, certain conditions must be met, including new social norms and flexible laws.

Boating on the serene blue waters of Triple Bay is among the attractions envisioned for the AMAALA Wellness Project. (Provided)

The Red Sea Project

“We are working on special economic zones for these projects, on tourism regulations to allow these destinations to succeed,” Darwish said. “It is still ongoing and we are trying to prepare it for the first phase of guests. We work hand in hand with the government, the tourist office and several agencies.

So far, AMAALA has 500 employees and plans to hire another 300 by the end of the year.

“The beauty of these projects, the most critical thing, is that we’re creating jobs, and not just in the hospitality industry, but also electricians, tour guides, ground handlers and more,” Darwish said.

Classroom in session

TRSDC also runs a program called the Elite Graduate Program which identifies talented young people and provides on-the-job learning opportunities for both projects.

A total of 110 new graduates have successfully completed the program and will soon succumb to growing demand from hiring managers and employers.

TRSDC has partnered with Prince Mugrin University to offer 120 scholarships for hospitality students ahead of the impending tourism boom in the Kingdom. The degree is accredited by the prestigious Ecole Hôtelière de Lausanne.

Ahmed Ghazi Darwich. (Provided)

“It’s an exceptional program. We have set the bar very high and students are already representing us at conferences,” Darwish said. “Besides the baccalaureate, we offer vocational training in everything from electricity to airport ground handling.”

The company has also funded an environmental stewards program to spread awareness of green practices.

“Part of it is about improving the environment, nature and habitat. The rest is about improving people’s livelihoods through better education and training,” he said. “We provide jobs and raise environmental awareness in the community.”

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Transamerica transforms annuity and life insurance solutions with the addition of Liza Tyler and Andrew DeMarco https://intuttitalia.com/transamerica-transforms-annuity-and-life-insurance-solutions-with-the-addition-of-liza-tyler-and-andrew-demarco/ Tue, 03 May 2022 14:30:00 +0000 https://intuttitalia.com/transamerica-transforms-annuity-and-life-insurance-solutions-with-the-addition-of-liza-tyler-and-andrew-demarco/ BALTIMORE, May 3, 2022 /PRNewswire/ — Transamerica announces that Lisa Tyler was appointed head of annuity solutions and Andrew DeMarco as Head of Life Solutions for the company’s Individual Solutions division. This new leadership structure is part of Transamerica’s commitment to a broad and resilient life insurance and annuity product line, driving growth within a […]]]>

BALTIMORE, May 3, 2022 /PRNewswire/ — Transamerica announces that Lisa Tyler was appointed head of annuity solutions and Andrew DeMarco as Head of Life Solutions for the company’s Individual Solutions division. This new leadership structure is part of Transamerica’s commitment to a broad and resilient life insurance and annuity product line, driving growth within a framework of risk management and capital efficiency. They will drive improvements to the customer experience, including robust digital capabilities both before and after the sale, product design, IT integration and customer-centric operations. These new positions fall under Jamie OhlPresident of Transamerica’s Individual Solutions Division, which provides individual insurance and investment solutions to clients across the United States

At Transamerica, Ms. Tyler will be responsible for the end-to-end life cycle of the entire individual annuity portfolio – from product design, competitive analysis, financial viability, pricing and risk – to product development, launch and growth management. She has experience leading teams specializing in the modernization and distribution of annuity products and investment portfolios, as well as responsive and fast-paced product reconfigurations.

“Liza is known for creating and implementing innovative strategies that will drive growth, giving us a competitive edge while strengthening our financial and operational performance,” Ms. Ohl said. “His strategic vision will deliver relevant and meaningful solutions that will meet our customers’ needs and drive growth for Transamerica.”

Lisa Tyler brings over 25 years of industry experience leading annuity and asset management teams, managing institutional businesses, modernizing solutions, expanding distribution and creation of new products. She most recently held the position of Head of Variable Annuities and Managing Director of CREF at TIAA and has held senior management positions in major companies in the sector. Ms. Tyler earned a Bachelor of Arts from the University of Minnesota. She holds Series 6, 63 and 26 securities registrations and is licensed in life and health insurance.

Andrew DeMarco strategically manage the end-to-end lifecycle of Transamerica’s entire life insurance product portfolio, which includes building a long-term product roadmap and new product development . He will focus on re-engineering and expanding the product portfolio into new market segments and will be responsible for the transformation and successful implementation of new strategies to support Transamerica’s life insurance business.

“For our life insurance solutions, Andrew is uniquely positioned to drive product innovation,” Ms. Ohl said. “He has extensive experience in successfully launching, administering and managing new products in traditional insurer and wholesaler environments. His technical skills, coupled with strong business acumen and customer focus, the make them ideal for this new role.”

Mr. DeMarco has over 18 years of experience in the life insurance industry, most recently leading life insurance strategies for Equitable. Mr. DeMarco received a Bachelor of Arts from Bowdoin College and holds Series 6, 63 and 26 and CLU title registrations® and CHFC® American College designations.

“Over the past year, Transamerica has made a number of investments in its new leadership structure, proving that we are a magnet for top talent in the financial services industry,” added Ms. Ohl.

About Transamerica
With a history that dates back more than 100 years, Transamerica is recognized as a leading provider of life insurance, retirement and investment solutions, serving millions of customers around the world. United States. Recognizing the need for health and wellness at the height of active life, Transamerica’s dedicated professionals strive to help people take the steps necessary to live better lives today so they can less worry about tomorrow. Transamerica serves nearly every customer segment, offering a wide range of quality life insurance and investment products, individual and group retirement plans, and asset management services. In 2021, Transamerica delivered on its promises to customers by paying more than $52 billion in insurance, pension and annuity claims and benefits, including reimbursement of annuity premiums paid by the client. Transamerica’s head office is located at Baltimore, Marylandwith other major operations in Cedar Rapids, Iowa and Denver, Colorado. Transamerica is part of the Aegon group of companies. Situated at the Netherlands, Aegon is a diversified financial services group focused on providing investment, protection and retirement solutions. For the whole of 2021, Aegon managed more than $1.1 trillion in income-generating investments. For more information, visit www.transamerica.com.

Media inquiries:

Media.Relations@transamerica.com

Erin Yang
(303) 383-5295

Julie Quinlan
(303) 383-5923

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Should adults over 50 buy life insurance? https://intuttitalia.com/should-adults-over-50-buy-life-insurance/ Mon, 02 May 2022 18:15:10 +0000 https://intuttitalia.com/should-adults-over-50-buy-life-insurance/ NEW YORK – May 2, 2022 – ( Newswire.com ) iQuanti: As you get older, it may seem like life insurance becomes less important. Your children may have moved away or you may have paid off your mortgage. But there are many benefits to buying life insurance if you’re over 50. For example, it can […]]]>

NEW YORK – May 2, 2022 – (

Newswire.com

)

iQuanti: As you get older, it may seem like life insurance becomes less important. Your children may have moved away or you may have paid off your mortgage. But there are many benefits to buying life insurance if you’re over 50. For example, it can help your beneficiaries pay your end-of-life expenses, pay off your debts, or even cover school fees for your children or grandchildren.

Life insurance has become an increasingly popular option for customers across the United States In the first three quarters of 2021, life insurance sales experienced a 18% increase, with record sales growth in the second and third quarters. If you are considering life insurance quote over 50read on to find out why you should consider taking out a policy for your loved ones.

1. Can help dependents replace your income

If your spouse or family depends on your income, a life insurance policy can be a great investment. Life insurance can provide a large payment to replace your income if you die so your family can continue to maintain a similar standard of living.

2. Can cover funeral expenses

Planning a funeral can be exhausting, emotionally draining and expensive. If you pass away, a life insurance policy can help your family cover your funeral and burial expenses, which can help ease the stress of grieving. Likewise, your loved ones can use the death benefit from a life insurance policy to cover other end-of-life expenses, such as medical bills and long-term care costs.

3. Can help pay off debt

When you die, the responsibility to repay your debts can be transferred to your estate. If you still have debts like car loans or a mortgage, your estate will generally be used to pay them off, leaving fewer assets for your heirs. A life insurance policy can protect you against this. It provides a guaranteed sum of money that your beneficiaries can use to pay off your debt to receive a larger portion of your estate. Plus, they can use a portion of the death benefit to pay their own debts, giving them greater financial security.

4. Can finance the education of your children or grandchildren

You generally cannot name a minor child as the beneficiary of a life insurance policy. However, you can create a trust for your children or grandchildren and designate the trust as beneficiary. A trust gives you control over the use of your death benefit. You can specify that the trust pays your spouse an allowance to use specifically for education expenses, such as tuition and textbooks, or to invest in a college savings account.

You can also have the trust keep the death benefit until your child or grandchild is an adult, and then have them pay a specific amount on a regular basis. This provides funds to use for their education without giving them the entire death benefit at once. If you choose to go this route, it is recommended that you work with a CPA or attorney for assistance and to ask any questions you may have.

The bottom line

There are many great ways to use life insurance over 50, especially for estate planning purposes. It can help your spouse and any other dependents replace your income and cover your funeral expenses. Plus, they can use it to pay off your debts and their debts, maximizing your estate. You can even designate your death benefit to fund your children’s education. You may have to pay a little more for life insurance over 50, but comparing insurers and collecting multiple quotes can help you get the coverage you need at a rate that fits your budget.

Press Release Service by

Newswire.com

Primary source:

Should adults over 50 buy life insurance?

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Change in Kingdom life as players drive industry forward https://intuttitalia.com/change-in-kingdom-life-as-players-drive-industry-forward/ Fri, 29 Apr 2022 03:24:41 +0000 https://intuttitalia.com/change-in-kingdom-life-as-players-drive-industry-forward/ The Covid-19 pandemic has revealed two profound changes in the life insurance segment – a growing positive consumer perception of insurance and insurers abandoning traditional sales channels to enter the digital space and improve delivery. As the unprecedented pandemic has strained public health services, destroyed livelihoods and businesses, changed lifestyles and hurt economies around the […]]]>

The Covid-19 pandemic has revealed two profound changes in the life insurance segment – a growing positive consumer perception of insurance and insurers abandoning traditional sales channels to enter the digital space and improve delivery.

As the unprecedented pandemic has strained public health services, destroyed livelihoods and businesses, changed lifestyles and hurt economies around the world, the life insurance industry of the Kingdom was relatively spared.

Impressive figures from the Insurance Regulator of Cambodia (IRC) speak volumes about the survival and performance of the industry, although still in a nascent stage, with premium value in 2021 reaching $293 million , an increase of 9.5% year-on-year.

General insurance market gross premium was $123 million – a 7.4% jump from 2020 – while life insurance premiums were $170, according to the IRC. million, up 11% – impressive numbers during a dark pandemic period in which many other sectors have suffered.

Changing Perceptions

Established insurers like Etiqa Life Insurance, Sovannaphum Life Assurance and GC Life Insurance have taken the right approach and expect good business after weathering the pandemic which has stunted business growth.

“The life insurance market in Cambodia has so much potential,” said Hong Vuthy, CEO of Etiqa.

The growth of the sector is driven by 18 general insurers, 14 life insurers, seven microinsurance companies and one reinsurance company, reaching approximately 16 million Cambodians.

The pandemic is forcing people to rethink ways to manage health care, increasing the recognition of life insurance, industry watchers say.

Health insurance and life cover help cushion the high costs of medical expenses, especially in private hospitals, bringing relief to the financially vulnerable.

The growing demand for life insurance is also fueled by increased public awareness.

In recent years, insurance companies in the Kingdom have consistently emphasized the importance of insurance – through extensive educational and community campaigns – which have helped spread the message that insurance cover is a security long-term health, contributing to the growth of the sector.

CEO of Sovannaphum Life, Loke Kah Meng, said, “Cambodians are now increasingly aware of the benefits of life insurance as part of financial protection for their families.

Drive product innovation

As public perceptions have changed, insurers have also quickly kept pace with the changing trend.

The landscape of the insurance industry has been changing since the onset of Covid-19, which forced insurers to review their business strategies as demand for life insurance increased.

Life insurers that have traditionally relied on labor-intensive businesses are rapidly shifting to digital platforms to continue serving their customers efficiently and remotely.

Virtual meetings, the widespread use of chatbots – a facility for digital interaction – uninterrupted services and faster processing of claims, for example, are changing the way insurance companies operate.

These movements have redefined the orientation of the industry, particularly in Cambodia, where it is considered a booming sector since less than 10% of the population is insured.

Companies focus on product innovation, deploy innovative insurance solutions to meet ever-changing customer needs, and design customer-centric products.

“We can see that Cambodian women are contributing more to the country, to society and to their families,” said Michael Tee, CEO of GC Life Insurance.

By responding to specific markets, investing heavily in digital platforms to be more efficient, and reskilling their workforce to better serve customers in a challenging environment, insurers in the Kingdom are constantly driving the industry forward.

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