Critical Illness Global Market Issues. IAA Health Section Critical Illness Topic Team Presented by Sue Elliott (chair) and Neil Hilary 1 June 2006
|
|
- Kristina Wilkins
- 5 years ago
- Views:
Transcription
1
2 Critical Illness Global Market Issues IAA Health Section Critical Illness Topic Team Presented by Sue Elliott (chair) and Neil Hilary 1 June 2006
3 Introduction Emerging themes/issues: Standardized definitions Guaranteed vs reviewable premium rates External influences Claim delays Capital and solvency issues Product innovation Discussion SUMMARY
4 Introduction
5 Purpose of Topic Teams Create an international community of actuaries (and others) who seek to gather, discuss and disseminate information to our members (not limited to actuaries) Communications tools Online Journal, website, periodic colliquia and meetings
6 Critical Illness Topic Team Members Sue Elliott United Kingdom (chair) Andres Webersinke Asia Pacific Richard Houde Canada Avi Bar Or Israel Jaime Jean Mexico Peter Davies New Zealand Audrey Kudryavtsev Russia Peter Temple South Africa Darrell Spell United States Hank George* United States (underwriter) * resigned, but provided some initial input Source: SoA CI Seminar, September 2005, Baltimore
7 Critical Illness Emerging themes/issues
8 Critical Illness Standardized definitions
9 Standardized definitions Asia Pacific standardization in some markets such as Taiwan, Singapore and Malaysia (stricter than UK) Australia u/k Canada under debate Ireland tend to follow the ABI South Africa differing severity level definitions United Kingdom ABI model wordings (just updated) United States not at present
10 Guaranteed vs reviewable premiums
11 Guaranteed vs reviewable - stakeholders Policyholder: - likes certainty Intermediary: - fixed premiums are easy to explain - distrust of insurers and reviewable premiums Insurer: - face market demand and strong competition - history of problems with reviewable premiums (ie implicit guarantees) - pass guarantee risk to reinsurer Reinsurer: - client demand for premium guarantees - strong competition & market capacity - can diversify the risk across products, companies & territories Regulator: - concerned about risk assessment and adequate capital
12 Reviewable critical illness Advantages: Generally lower premiums (affordability) Offers consumer choice Changes in an individual's medical condition do not affect their premium when reviewed For innovative product design reviewable may be the only option that insurers/reinsurers will support Disadvantages: How reviewable is reviewable (ie implicit guarantees)? Commercial pressures Policyholder reasonable expectations (PRE) Treating Customers Fairly (TCF) Review clauses lack of clarity & transparency (ABI consultation on reviewable premiums )
13 Guaranteed critical illness Advantages: Peace of mind and certainty (that rates won't change) Easy to explain at point of sale Disadvantages: Reducing reinsurance capacity & support Potential impact of medical advances Robustness of definitions against medical advances Reserving & capital implications
14 Issues to consider Appropriate allowance in pricing & reserving for guarantees to policyholders: - extent of guarantee full, partial, none? - are current guarantee loadings enough? - will appropriate guarantee loadings make the coverage unaffordable? Deterioration in underlying morbidity experience Definitions are virtually guaranteed Allowance for potential impact of medical advances (for all major conditions) Allowance for changing consumer attitudes & expectations: - PRE - legal challenges - increasing consumer awareness
15 Assessment of risk level and volatility Key sources of pricing error: - credibility of data - appropriateness of data - effect of trends - effect of shocks Robustness of definitions: - against medical advances - against social change
16 Methodology Theory - increase loading for longer outstanding guarantee period Society of Actuaries (Ireland) CI Guarantees Working Party - margin = x% + y% pa - where x = 35 to 50% - where y = 1 to 3% pa Practical - use single z% loading across whole portfolio
17 Typical guarantee loadings Company Product type Flat margin (x% ) Additional allowance for future trends (y% ) 1 Stand alone 10% 1.5% pa 2 Acclerated 20% 1% pa 2 Stand alone 30% 2% pa 3 Acclerated 40% 2% pa 4 Stand alone 45% rates x (1.02)^10 5 Both 35% 1.5% pa 6 Stand alone 50% none 7 Acclerated 40% none 8 Acclerated 30%.75% pa 8 Stand alone 40% 1% pa Source: UK IoA Appointed Actuary Survey
18 Typical valuation margins Critical Illness Income Protection Expected Conventional Conventional Expected Conventional Conventional Margin - guaranteed - reviewable Unit linked Margin - guaranteed - reviewable Unit linked 0 to 14% to 10% 2 1 most 15 to 24% to 20% to 34% to 30% % % Average 35% 22% 23% Average (est) 20% 15% 10% Trend? Trend? Source: UK IoA Appointed Actuary Survey
19 Summary Reviewable vs guaranteed CI advantages & disadvantages of both Reviewable (review clause) impact of ABI consultation on reviewable premiums? Guaranteed (medical advances & legal challenges) impact of ABI CI Statement of Best Practice consultation? Either option price and reserve appropriately for the risk covered
20 Critical Illness External influences
21 External influences Potential financial implications of medical advances (eg improved diagnostic techniques) Robustness of definitions against legal challenges Increase in consumer awareness Changing stance of the Obmudsman/external claims adjudicator
22 Medical advances/improved diagnostic techniques Cancer greater prevalence of screening to aid in early detection of cancer (eg breast & prostate) Heart attack impact of troponins Multiple sclerosis impact of new diagnostic techniques (eg interferon beta & MRI scans)
23 Robustness of definitions against legal challenges Medical definition vs insurance definition Impact of changing view of Financial Services Ombudsman Scheme: Philosophy: - they operate on a fair & reasonable basis - they put a lot of emphasis on what the person thought they were buying and their general knowledge of the contract - it does not suffice to simply refer to the key features document Current concerns: - appears that cases that once would have been rejected by the FOS are now being accepted - 40% of cases are being decided in favour of the consumer - not reflected in the original pricing ABI CI Statement of Best Practice recent consultation (eg clarity, futureproofing)
24 Changing consumer attitudes and expectations Policyholder reasonable expectations (PRE) Increased financial understanding Increased awareness about their rights Consumer activity in uncertain economic times Reduction in house sales will directly impact on mortgage related CI Increasing non-disclosure
25 Reinsurance drivers Reinsurers have a major impact on the protection market Availability of reinsurance withdrew support for guaranteed CI but now re-entered Capital scarcity Influence of the rating agencies Risk management Parental constraints Ceding offices concerned about the financial stability of their reinsurer and counterparty risk
26 Critical Illness Claim delays
27 Claim delays Institute of actuaries experience to date Offices were asked to supply four dates: - date of diagnosis - date of notification - date of admission - date of settlement Various combinations were received Admissions generally very close to settlement Large delays between diagnosis and notification and between notification and settlement Introduced an IBNS factor (ie incurred but not settled) around 15%
28 Critical Illness Capital and solvency issues
29 Capital UK current issues Individual capital assessment ICA Definition a self-assessment of capital requirements: - firms required to identify risk - firms required to undertake stress and scenario tests to gain a comprehensive view of the risks being run by the firm in extreme, but foreseeable circumstances - such that no significant risk that liabilities cannot be met as the fall due
30 Capital UK current issues (2) ICA initial feedback: - ICA calculations require a lot of work and preparation - ICA's may offer an opportunity for term books, but may lead to capital increases for other protection books (especially guaranteed CI) - a worsening of reinsurance capacity/terms can exacerbate the squeeze on capital - a holistic and thorough approach to the ICA brings many risk management benefits - further work will be required to integrate the ICA fully
31 Solvency current issues Solvency I Purpose: - adoption of two Directives of life and non-life to reinforce safeguards to policyholders by strengthening the solvency margin requirement for the healthcare business written in the Class IV fund Business affected: - stand alone critical illness (CI) - accelerated CI (health component) - income protection (IP) - long-term care (LTC) Calculation: - 4% of reserves plus GI style calculation, which is the higher of solvency margin calculated on the premium basis and the claims basis - reduced to 1/3 if five necessary conditions are met guaranteed business does not meet all the conditions Solvency II: - a more wide-ranging review
32 Critical Illness Product innovation around the globe
33 Global CI product innovation Payout other than a lump sum (eg monthly to match mortgage payout) Benefits based on severity: - introduced in South Africa (typically 4 to 8 severity levels) - US partial payments (eg CABG, angioplasty, carcinoma insitu) Multiple payments: - partial payments - each condition is paid out once with an overall limit - fixed number of payments on each occurrence or recurrence of a condition Unbundled products: - South Africa basic to comprehensive design - US choice of cancer or heart (covering heart attack, stroke, bypass, angioplasty) Source: SoA CI Seminar, September 2005, Baltimore
34 Global CI product innovation (2) Waiver of premium Buy back option: - on accelerated policies only - reinstate sum assured following payment of a CI payment - very common in Australia Optional benefits: - rehabilitation expense reimbursement - overseas assistance benefit - children education benefit - assisting with choosing doctors and facilities Products targeted at certain groups: - juvenile products - newborn coverage - female CI products (popular in much of Asia) female diseases, pregnancy complications, congenital anomalies Source: SoA CI Seminar, September 2005, Baltimore
35 Global CI product innovation (3) Integrated products: - CI and medical insurance - medical reimbursement for costs exceeding lump sum - CI and disability insurance - reduced lump sum with income payable on continued disability Medical advances and reviewable definitions Source: SoA CI Seminar, September 2005, Baltimore
36 Discussion
Critical illness insurance
Critical illness insurance Critical illness insurance, otherwise known as critical illness cover or a dread disease policy, is an insurance product in which the insurer is contracted to typically make
More informationArticle from. Product Matters. March 2017 Issue 106
Article from Product Matters March 2017 Issue 106 Critical Illness Insurance in Canada By Vera Ljucovic Critical Illness insurance goes by many names: Dread Disease in some locales, Chronic Care, Trauma
More informationSERIOUS ILLNESS COVER
SERIOUS ILLNESS COVER WHAT IS SERIOUS ILLNESS COVER? Our award-winning Serious Illness Cover provides protection against the financial impact that a serious illness can have on people s lives. We pay out
More informationFOR ADVISERS SERIOUS ILLNESS COVER ADVISER GUIDE
FOR ADVISERS SERIOUS ILLNESS COVER ADVISER GUIDE COVER THAT S UP TO 3 TIMES MORE LIKELY TO PAYOUT COMPARED TO A TYPICAL CRITICAL ILLNESS POLICY 1 LIKELINESS TO CLAIM BEFORE 65 RELATIVE LIKELIHOOD OF CLAIM
More informationCUSTOMER GUIDE PROGRESSIVE CARE
CUSTOMER GUIDE PROGRESSIVE CARE PROGRESSIVE CARE Trauma Insurance A different take on Trauma Insurance to cover you for serious illness or injury. TOTALCAREMAX PROGRESSIVE CARE FROM SOVEREIGN A different
More information35 Years of CI. Pacific Life Re Re:think. Introduction. August September 2018
35 Years of CI Pacific Life Re Re:think August 2018 September 2018 Introduction This year marks 35 years since the first Critical Illness (CI) insurance policy was launched. It was the inspiration of a
More informationCritical Illness Insurance: An Introduction to Pricing. Chris Jewson Head of Protection Pricing, UK & Ireland
Critical Illness Insurance: An Introduction to Pricing Chris Jewson Head of Protection Pricing, UK & Ireland 22 October 2015 Agenda The Evolution of Critical Illness Pricing Setting The Long-Term Trend
More informationCritical Illness Experience Trends
Critical Illness Experience Trends Dave Grimshaw Chairman, CMI Critical Illness Committee and Neil Robjohns Chairman, IoA Critical Illness Trends Working Party CMI Critical Illness The first quadrennium
More informationContinuing Education for Advisors
Continuing Education for Advisors knowledge continuing training educate online awareness participate Long term care insurance An overview Learning objectives By the end of this course you will be able
More informationADVISER INFORMATION PROGRESSIVE CARE PROGRESSIVE. TotalCareMax. Extra information around how the product works.
ADVISER INFORMATION PROGRESSIVE CARE TotalCareMax Extra information around how the product works. AN INNOVATIVE APPROACH TO INSURANCE Insurance that makes sense Sovereign s Progressive Care is a severity-related
More informationCritical illness insurance rates: are they changing over time and how?
Critical illness insurance rates: are they changing over time and how? Dr George Streftaris & Dr Erengul Dodd Work with Chunxiao Xie. 21 May 2018 www.actuaries.org.uk/arc Modelling, Measurement and Management
More informationCLAIMS EXPERIENCE 2017
CLAIMS EXPERIENCE 2017 TOTAL ALLOCATIONS TO MEMBERS LOOKING AFTER OUR OWN The backbone of PPS is its members and protecting them in their time of need is paramount. R3.7 billion R25 bn cumulatively allocated
More informationPeace. Mind. VivoLife. Why is it good for me? Live with. Flexible payment terms. A lifetime of protection.
Live with Peace of Mind VivoLife Flexible payment terms. A lifetime of protection. Your comprehensive coverage for life. VivoLife gives you the flexibility to choose from 3 levels of protection¹ for you
More informationCUSTOMER GUIDE PROGRESSIVE CARE
CUSTOMER GUIDE PROGRESSIVE CARE Trauma Insurance An innovative way of covering you for serious illness or injury. TOTALCAREMAX FROM SOVEREIGN A different way of looking at trauma insurance It s unfortunately
More informationProduct innovations in Critical Illness. Chris Reynolds - Head of Life Solutions Actuarial 12 th Geneva Association Health and Ageing Conference
Product innovations in Critical Illness Chris Reynolds - Head of Life Solutions Actuarial 12 th Geneva Association Health and Ageing Conference 3 Disclaimer The following presentation is for general information,
More informationTroy University Long-Term Care Insurance Plan
LTCi Plan Overview Troy University Troy University is pleased to offer Long-Term Care Insurance (LTCi) from LifeSecure: the leader in worksite longterm care insurance. People of any age could have an extended
More informationHumana Critical Illness and Cancer
Consider coverage that helps protect you, your family, and your assets in the event of a critical illness. It offers specialized benefits to supplement other health insurance when you and your family may
More informationCRITICAL ILLNESS INSURANCE
CRITICAL ILLNESS INSURANCE EMPIRE LIFE CI PROTECT & CI PROTECT PLUS PRODUCT GUIDE Protecting your way of life Insurance & Investments Simple. Fast. Easy. Suffering a serious illness can be devastating
More informationINDIVIDUAL LIFE & HEALTH PRODUCTS
INDIVIDUAL LIFE & HEALTH PRODUCTS life & health FOR ADVISOR USE ONLY AT A GLANCE ABOUT EQUITABLE LIFE OF CANADA Equitable Life is one of Canada s largest mutual life insurance companies. For generations
More informationAssurity at Work. Assurity at Work. Product Portfolio
Assurity at Work Assurity at Work Product Portfolio Assurity Life Insurance Company Assurity 2014 Statutory Financial Results $2.46 billion in total assets under management $330.8 million in total surplus
More informationCigna Supplemental Solutions Insured by Loyal American Life Insurance Company BENEFITS TO HELP YOU STAY 100% YOU
Cigna Supplemental Solutions Insured by Loyal American Life Insurance Company Flexible Choice CANCER and HEART ATTACK & STROKE Insurance Policies for MISSOURI BENEFITS TO HELP YOU STAY YOU LUMP SUM BENEFITS
More informationYour Health is Critical Are You Protected?
Your Health is Critical Are You Protected? By Jim Dehoney Since its development in the early 1980s by South African physician Dr. Marius Barnard (brother of famed pioneer heart transplant physician Dr.
More informationNew Opportunities for Growth
New Opportunities for Growth Life and Supplemental Insurance Products 1 Critical Illness Cash Plan 2 Critical Illness Cash Plan Uncertainty can threaten from out of the blue! The mean lifetime cost of
More informationFor the employees of: Atos IT Solutions & Services, Inc.
Critical Illness Insurance A limited benefit policy Enrollment at a Glance An affordable way to help protect against the financial stress of a serious illness For the employees of: Atos IT Solutions &
More informationWe believe there s a better way to do life insurance
FMI Individual We believe there s a better way to do life insurance FMI Individual is the only product in the market that includes a suite of income benefits to replace 100% of your income in the Life
More informationAssurant Employee Benefits Enrollment meeting for: Jerseyville Hospital New Hire Enrollment Period 1 st of the month after 60 days
Assurant Employee Benefits Enrollment meeting for: Jerseyville Hospital New Hire Enrollment Period 1 st of the month after 60 days Basic Life Voluntary Life Insurance Voluntary Life and AD&D - Age Reduction:
More informationBMO Life Assurance Company
BMO Life Assurance Company Product Overview November 2, 2015 PN0001E (formerly PN0022E) (2015/11/02) Product Overview: Universal Life Plans Market leading universal life insurance. Plans for various estate
More informationIAA Presidents Forum. Update on. Enterprise Risk Management (ERM) Paris, 28 May 2006
IAA Presidents Forum Update on Enterprise Risk Management (ERM) Paris, 28 May 2006 Outline of Agenda 1. IAA Presidents Forum in Rio 2005 identified Risk Management as a key area of focus for the IAA 2.
More informationCritical Illness Insurance
GROUP INSURANCE The ideal complement to your group insurance Critical Illness Insurance A partner you can trust. Critical Illness Insurance PEACE OF MIND WITHIN YOUR REACH Today, progress in medicine and
More informationProduct Summary. Life Cover. December Complimentary Final Family Expenses. Why consider Life Cover? Family Protection
Product Summary December 2017 This is a summary of the main features and terms of the AIA Australia Priority Protection product. For full details, please refer to the AIA Australia Priority Protection
More informationTERM INSURANCE. term FOR ADVISOR USE ONLY
TERM INSURANCE term FOR ADVISOR USE ONLY ABOUT EQUITABLE LIFE OF CANADA Equitable Life is one of Canada s largest mutual life insurance companies. For generations we ve provided policyholders with sound
More informationRisk Business Capital Taskforce. Part 2 Risk Margins Actuarial Standards: 2.04 Solvency Standard & 3.04 Capital Adequacy Standard
Part 2 Risk Margins Actuarial Standards: 2.04 Solvency Standard & 3.04 Capital Adequacy Standard Prepared by Risk Business Capital Taskforce Presented to the Institute of Actuaries of Australia 4 th Financial
More informationEffectiveness of Natural Hedge and Reaction to Longevity Society
Effectiveness of Natural Hedge and Reaction to Longevity Society Fubon Life Chang Cheng-Wei, FSA 09/22/2017 Agenda Methods of hedging longevity risk Effectiveness of natural hedge inter-products Effectiveness
More informationA NEW TYPE OF INSURANCE
Progressive Care Customer guide A NEW TYPE OF INSURANCE Progressive Care Life. Take charge. sovereign.co.nz PROGRESSIVE CARE FROM SOVEREIGN Progressive Care offers you a different way of looking at insurance.
More informationCanadian Institute of Actuaries Institut Canadien des Actuaires MEMORANDUM
Canadian Institute of Actuaries Institut Canadien des Actuaires MEMORANDUM TO: FROM: All Life Insurance Practitioners Simon Curtis, Chairperson Committee on Life Insurance Financial Reporting DATE: October
More informationYOUR GUIDE TO EQUILIVING
Equitable Life is the largest federally regulated mutual life insurance company in Canada. For generations we ve provided policyholders with sound financial protection, and we look forward to continuing
More informationHumana Critical Illness/Cancer
Humana Critical Illness/Cancer Critical illness/cancer voluntary coverages pay benefits however you want With our critical illness and cancer plans, you'll receive a benefit after a serious illness or
More informationWelcome to YouDecide YOUR VOLUNTARY BENEFITS PROGRAM
Welcome to YouDecide YOUR VOLUNTARY BENEFITS PROGRAM Welcome to your voluntary benefits program. If you have a question or need assistance, you can speak with a YouDecide advisor by calling 1-800-598-0254
More informationCanadian Individual Critical Illness Insurance Morbidity Experience Study
Morbidity Study Canadian Individual Critical Illness Insurance Morbidity Experience Study Including Policy Anniversaries Between 2003 and 2011 Using Expected Incidence Rate Tables 2008 CANCI Individual
More informationIssue Date: 1 October Zurich FutureWise. Product Disclosure Statement
Issue Date: 1 October 2016 Zurich FutureWise Product Disclosure Statement Contents The importance of insurance 1 Zurich FutureWise summary 2 Types of insurance available 2 Understanding your Zurich FutureWise
More informationCRITICAL ILLNESS INSURANCE. Transition. Made for you!
CRITICAL ILLNESS INSURANCE Transition Made for you! Critical illness insurance first originated in South Africa in the early 1980s. It was designed by a renowned heart surgeon, Marius Barnard, who based
More informationCompass Critical Illness Insurance Enrollment at a glance An affordable way to help protect against the financial stress of a serious illness.
Compass Critical Illness Insurance Enrollment at a glance An affordable way to help protect against the financial stress of a serious illness. For the employees of: Scientific Games Corporation Do you
More informationCurrent Estimates of Expected Cash flows Under IFRS X
Current Estimates of Expected Cash flows Under IFRS X Scope Q1 A1 Q2 A2 What is the scope of this International Actuarial Note (IAN)? This IAN provides information concerning the estimates of future cash
More informationAsia Care Plus. Thailand. International health insurance for individuals and families
Asia Care Plus Thailand International health insurance for individuals and families Asia Care Plus Overview Essential international health insurance plans Essential coverage for costly unexpected future
More informationBREAKING DOWN THE BARRIERS TO PROTECTION SALES 2017 PROTECTION CLAIMS
BREAKING DOWN THE BARRIERS TO PROTECTION SALES 2017 PROTECTION CLAIMS Martin Duffy ACII, DLDU & DLDC (AMS) Chartered Insurer Head of Underwriting & Protection Claims PENSIONS INVESTMENTS LIFE HEALTH BARRIERS
More informationRisk Appetite. What is risk appetite?
Risk Appetite Presented by Mike Claffey 30 March 2011 What is risk appetite? Risk appetite is the degree of risk that an organisation is willing to accept in order to achieve its objectives, both in terms
More informationNote You and your relates to the policy owner. For a single-life policy, the life insured will also be the policy owner.
DIRECT- ManuAssure Life Product Summary Details of product provider Manulife (Singapore) Pte. Ltd. (we, our, us) (registration number 198002116D) is the product provider and underwriter for this policy.
More informationFor the employees of: Keller Independent School District
Compass Critical Illness Insurance A limited benefit policy Benefits at a Glance An affordable way to help protect against the financial stress of a serious illness. For the employees of: Keller Independent
More informationQoL Flex Term Protection tailored to your needs 18 Term Periods and built-in Living Benefits
QoL QoL Flex Term Protection tailored to your needs 18 Term Periods and built-in Living Benefits AGLC110245 REV0118 PAGE 1 of 8 QoL Flex Term Life insurance that s available while you are still living
More informationVoluntary Worksite Products. Darrell D. Spell Tampa, FL
Voluntary Worksite Products Darrell D. Spell Tampa, FL Important Notice The information in this presentation is general in nature. It is not intended to represent the actions or assumptions of a specific
More informationProducts. Daniel Stone FASSA/FFA RGA Reinsurance Company of South Africa RGA Technical Seminar: Peering over our Borders June 2009
Products Daniel Stone FASSA/FFA RGA Reinsurance Company of South Africa RGA Technical Seminar: Peering over our Borders June 2009 The security of experience. The power of innovation. www.rgare.com Agenda
More informationCanadian Institute of Actuaries Institut Canadien des Actuaires MEMORANDUM
Canadian Institute of Actuaries Institut Canadien des Actuaires MEMORANDUM TO: All Life Insurance Practitioners FROM: Jacques Tremblay, Chairperson Committee on Life Insurance Financial Reporting DATE:
More informationMinimize the financial impact of a serious illness. Take control today with critical illness insurance.
What would happen if you were suddenly Minimize the financial impact of a serious illness. Take control today with critical illness insurance. What is critical illness insurance? How is critical illness
More informationAbout PA Group. Our Mission
Global Health Plans About PA Group PA Group was founded in 2005 by two former General Electric executives with a passion for helping people prepare for the future. Since its inception, PA Group has successfully
More informationCritical Illness. Standard Life and Accident Insurance Company INSURANCE SLA-CIBR10/11
Critical Illness INSURANCE Standard Life and Accident Insurance Company SLA-CIBR10/11 Critical Illnesses happen more often In the United States: About Every 34 Seconds Someone Suffers a Heart Attack. 1
More informationA plan that keeps pace with your life journey
PROTECTION / SAVINGS AIA FAMILY FIRST SECURE A plan that keeps pace with your life journey AIA Family First Secure evolves with your changing needs aia.com.sg 01 PROTECTION / SAVINGS AIA FAMILY FIRST SECURE
More informationIssue Date: 15 May Zurich Active. Product Disclosure Statement including policy conditions
Issue Date: 15 May 2017 Zurich Active Product Disclosure Statement including policy conditions This PDS This PDS contains information about the Zurich Active policies, as well as the policy conditions.
More informationOffered to employees of NextEra Energy, Inc.
Critical Illness Insurance A limited benefit policy Benefits at a Glance An affordable way to help protect against the financial stress of a serious illness. Offered to employees of NextEra Energy, Inc.
More informationFutureWise. Macquarie Life. Smart insurance solutions made simple. Macquarie Life
Macquarie Life FutureWise Macquarie Life Smart insurance solutions made simple Product Disclosure Statement issued jointly by: Macquarie Life Limited ABN 56 003 963 773 AFSL 237 497 and Macquarie Investment
More informationCritical Illness Insurance A limited benefit policy
Critical Illness Insurance A limited benefit policy Benefits at a Glance An affordable way to help protect against the financial stress of a serious illness. For the employees of: Coastal Bend Employee
More informationPENSIONS INVESTMENTS LIFE INSURANCE. Group Risk Benefits. Shane O Farrell BAFS, FSAI, QFA Head of Products and Pricing Irish Life Corporate Business
PENSIONS INVESTMENTS LIFE INSURANCE Group Risk Benefits Shane O Farrell BAFS, FSAI, QFA Head of Products and Pricing Irish Life Corporate Business CONTENTS Introduction - who I am and where do I come from?
More informationA CONSUMER S GUIDE. Breathe Easier. Worry Less. Products issued by National Life Insurance Company
Term Portfolio A CONSUMER S GUIDE Breathe Easier. Worry Less. Products issued by National Life Insurance Company National Life Group is a trade name of National Life Insurance Company and its affiliates.
More informationACCELERATED PROTECTION Policy Document. Issue Date: 10 August 2009
ACCELERATED PROTECTION Policy Document Issue Date: 10 August 2009 TOWER Australia Limited ABN 70 050 109 450 AFSL 237 848 TOWER Australian Superannuation Limited ABN 69 003 059 407 AFSL 237 851 TOWER Superannuation
More informationINSURANCE. OneCare Protection for life Understanding Trauma Cover
INSURANCE OneCare Protection for life Understanding Trauma Cover Trauma Cover With a flexible, innovative and customer focused range of benefits, features and additional options, OnePath Life s OneCare
More informationBRIDGING THE PROTECTION GAP IN SINGAPORE FAQs for public Protection Gap Study 2017
BRIDGING THE PROTECTION GAP IN SINGAPORE FAQs for public Protection Gap Study 2017 Updated as at April 26, 2018 GENERAL 1. Why is bridging the protection gap important and what are the repercussions of
More informationFutureWise. Macquarie Life. Smart insurance solutions made simple. Macquarie Life
Macquarie Life FutureWise Macquarie Life Smart insurance solutions made simple Product Disclosure Statement issued jointly by: Macquarie Life Limited ABN 56 003 963 773 AFSL 237 497 and Macquarie Investment
More informationEquitable Life Assurance Society
Equitable Life Assurance Society Annual PRA Insurance Returns for the year ended 31 December 2015 IPRU(INS) Appendices 9.1, 9.3, 9.4, 9.4A, 9.6 Balance Sheet and Profit and Loss Account Contents Form
More informationTrauma Cover. Assurance Extra. Trauma Cover overview
Assurance Extra Trauma Cover What is Trauma Cover? Trauma Cover is an insurance that pays you a lump sum amount if you suffer from a defined serious illness or condition. Trauma Cover overview Minimum
More informationReport on. Hong Kong Assured Lives Critical Illness. Experience Study
Report on Hong Kong Assured Lives Critical Illness Experience Study 2005 2009 Actuarial Society of Hong Kong Experience Committee Table of Contents 1. Introduction... 3 2. Data... 4 2.1 Overview of Data
More informationWhen it s hard to get the help you need, we ll make it easy.
PROTECTION AIA PRIME CRITICAL COVER When it s hard to get the help you need, we ll make it easy. AIA Prime Critical Cover gives you easy access to critical illness protection with coverage up to age 100.
More informationLIFESTYLE PROTECTOR LIVING LIFESTYLE
LIVING LIFESTYLE Top five reasons to have Living Lifestyle 1 Living Lifestyle is a market-leading benefit on the Lifestyle Protector product It provides comprehensive coverage and financial security for
More informationInnovative Critical Illness coverage for today s market (Product 101)
Innovative Critical Illness coverage for today s market (Product 101) Christin Kuretich Senior Director, Product & Innovation Trustmark Rachel Montalbano Regional Sales Director, Gulf Coast Trustmark A
More informationMortality and Morbidity Gaps, Aging Society and Implications on Product Development. July 2012
Mortality and Morbidity Gaps, Aging Society and Implications on Product Development July 2012 Executive Summary There has never been a better time for us to discuss our customers' protection needs, address
More informationEMPIRE LIFE CI PROTECT PLUSTM
EMPIRE LIFE CI PROTECT PLUSTM Comprehensive critical illness insurance to protect your way of life Insurance & Investments Simple. Fast. Easy. Why critical illness protection? Chances are you know someone,
More informationLegal & General Critical Illness Cover
1 Contents Critical Illness Cover Page 3 What is a critical illness? Page 4 Could it happen to me? Page 5 How can Critical Illness Cover help? Page 6-7 Legal & General Nurse Support Services Page 8-9 Legal
More informationCompass Critical Illness Insurance A limited benefit policy
Compass Critical Illness Insurance A limited benefit policy Benefits at a Glance An affordable way to help protect against the financial stress of a serious illness. For the employees of: Linebarger Goggan
More informationInsurance data sources and data needs: Private-sector perspectives. Raymond Yeung, Swiss Re OECD-Asia Regional Seminar, September 23-24, Kuala Lumpur
Insurance data sources and data needs: Private-sector perspectives Raymond Yeung, Swiss Re OECD-Asia Regional Seminar, September 23-24, Kuala Lumpur Agenda About Swiss Re's sigma Applications of insurance
More informationForesters Strong Foundation Simplified Issue Term Insurance
Special offer extended by popular demand Foresters Strong Foundation Simplified Issue Term Insurance Now available up to $350,000 Available through to age 55 No exams, no fluids, no APS, no routine PHIs
More informationTOTAL PERMANENT DISABLEMENT
Life TotalCareMax Total Permanent Disablement TOTAL PERMANENT DISABLEMENT TotalCareMax Life. Take charge. sovereign.co.nz HOW TOTALCAREMAX TOTAL PERMANENT DISABLEMENT COVER CAN HELP YOU Total Permanent
More informationMacquarie Life FutureWise. Macquarie Life
Macquarie Life FutureWise Macquarie Life Product Disclosure Statement issued jointly by: Macquarie Life Limited ABN 56 003 963 773 AFSL 237 497 and Macquarie Investment Management Limited ABN 66 002 867
More informationSun Critical Illness Insurance CLIENT GUIDE. Life s brighter under the sun
Sun Critical Illness Insurance CLIENT GUIDE Life s brighter under the sun Sun Critical Illness Insurance Client guide A serious illness can take anyone by surprise. Medical advances mean the journey to
More informationPRA RULEBOOK: NON-SOLVENCY II FIRMS: INSURANCE COMPANY - REPORTING INSTRUMENT 2016
PRA RULEBOOK: NON-SOLVENCY II FIRMS: INSURANCE COMPANY - REPORTING INSTRUMENT 2016 Powers exercised A. The Prudential Regulation Authority ( PRA ) makes this instrument in the exercise of the following
More informationMacquarie Life FutureWise. Macquarie Life
Macquarie Life FutureWise Macquarie Life Product Disclosure Statement issued jointly by: Macquarie Life Limited ABN 56 003 963 773 AFSL 237 497 and Macquarie Investment Management Limited ABN 66 002 867
More informationLIFESTYLE PROTECTOR PRODUCT SUMMARY
LIFESTYLE PROTECTOR PRODUCT SUMMARY The information contained in this Lifestyle Protector Product Summary is the latest product information available as at publication. Any legal, product or technical
More informationMacquarie Life FutureWise
Macquarie Life FutureWise Product Disclosure Statement issued jointly by: Macquarie Life Limited ABN 56 003 963 773 AFSL 237 497 and Macquarie Investment Management Limited ABN 66 002 867 003 AFSL 237
More informationSCOR inform - April Extending the Critical Path Summary Paper
SCOR inform - April 2014 Extending the Critical Path Summary Paper Extending the Critical Path Summary Paper Author Jamie Leitch Head of Strategic Initiatives SCOR Global Life London Publisher Paolo De
More informationCancer. About this Benefit AMERICAN PUBLIC LIFE YOUR BENEFITS DID YOU KNOW?
AMERICAN PUBLIC LIFE Cancer YOUR BENEFITS About this Benefit Cancer insurance offers you and your family supplemental insurance protection in the event you or a covered family member is diagnosed with
More informationCritical. A limited be. enefit policy
C Critical Illness Insurrance A limited be enefit policy A critical illness isn t polite. It doesn t announce its presence before barging into your life. Consider the following: In the United States, someone
More informationAG Accident Choice Plus
ABOUT 41 MILLION ARE TREATED IN HOSPITAL EMERGENCY ROOMS FOR TRAUMA EACH YEAR. 1 Think you re covered? Major medical could leave you with more expenses than you can afford. AG Accident Choice Plus Accidental
More informationHealthcare Expense Lifestyle Protection
Marketed by Healthcare Expense Lifestyle Protection FOCUS ON RECOVERY, NOT EXPENSES Indemnity Insurance ADH03-14 (R. 9-14) Insurance Coverage underwritten by Guarantee Trust Life Insurance Company Platinum
More informationCritical Illness Insurance Provides lump-sum cash benefits that can help with daily expenses
What can living with a critical illness mean to you? Daily out-of-pocket expenses for fighting the disease while still paying your bills GROCERIES CAR HOME PRESCRIPTIONS Critical Illness Insurance Provides
More informationCancer Treatment Benefit
Welcome to AIA You are now covered with AIA. In addition to your Policy Schedule, this document sets out the terms and conditions of your Policy. Your Cover _ We will reimburse up to $500,000 per Life
More informationUniversal Life Insurance
Universal Life Insurance Today's success tomorrow's foundation Jade Global Generations Universal Life HSBC Life (International) Limited HSBC Life (International) Limited HSBC Life (International) Limited
More information2018 Benefits Guide. Improving Our Wellness Together
2018 Benefits Guide Improving Our Wellness Together Welcome to your 2018 Benefits Open Enrollment We are honored to present your 2018 Benefit Options! The elections you make during open enrollment will
More informationLIFE & HEALTH. Product Overview. Insurance & Investments Simple. Fast. Easy.
LIFE & HEALTH Product Overview Insurance & Investments Simple. Fast. Easy. Term & Permanent Non-Participating Life Insurance Solution ART Solution 10/20 Solution 30 TM Solution 100 Plan description Annual
More informationPermanent Life Insurance. 100% Pure Protection
Permanent Life Insurance 100% Pure Protection 100 % Pure Protection A product that gives you more options and greater coverage 100% Pure Protection is a Permanent Life Insurance product you can purchase
More informationFutureWise Product Disclosure Statement. Macquarie Life
FutureWise Product Disclosure Statement Macquarie Life Product Disclosure Statement issued jointly by: Macquarie Life Limited ABN 56 003 963 773 AFSL 237 497 and Macquarie Investment Management Limited
More informationNational Life Insurance Company
Breathe Easier Worry Less Term Insurance PROTECTING THE ONES WHO DEPEND ON YOU Products issued by National Life Insurance Company National Life Group is a trade name of National Life Insurance Company,
More informationCritiCaL illness ProteCtion Policy summary
Critical Illness Protection Policy Summary Critical Illness Protection Policy Summary In this summary, we try to help you by giving you the key facts of the policy. It doesn t set out the full terms and
More informationTHE MOMENT OF TRUTH: A consumer s perspective
EUROPE May 2017 In 2016, we commissioned a survey of 2,000 people in the UK to try to gain some insight into their views of protection claims management, what they consider the chance is of getting a claim
More information