Life insurance news and articles written by acturies for actuaries - read the latest research pieces, today's news and latest articles in the Life insurance market.

Transforming for an unpredictable future

The Life & Pensions industry is in the throes of a major upheaval, and companies are well aware of the need to change the way they work to succeed in a new world driven by more stringent regulations, greater access to pension funds and changing customer behaviours.
A key catalyst for escalating concern is huge regulatory change and the substantial cost overheads this is likely to generate for insurance companies. Significant recent reforms include the largest overhaul of the pensions system in a generation, new regulations from ‘Solvency II’, and RDR reforms eliminating commission payments. This is in addition to a greater compliance focus on sales processes - which has already seen regulatory investigations into policies sold tens of years ago – and in particular a longer-term requirement to be operationally more transparent.
Yet more change is on the horizon, as the government considers rewriting tax rules. This would turn on its head the current system of savers receiving tax relief when they pay into pension schemes then being taxed on the income at retirement, to paying tax upfront with future pension payments being tax-free. These changes could open up the market to investment houses and digital platforms. The latter organisations ar...Read More

Inheritance: Retirees & their children relying on each other

The study reveals that while one in six (16%) of parents are expecting to be supported financially by their grown up kids when they retire, one in six (17 %) of adult children are relying on inheritance from their parents, causing an inheritance tug of war!
Furthermore, one in ten grown up children are relying on this inheritance so much that they think their parents are blowing too much of it!
SunLife’s research also reveals that as a percentage of income, older people are better off than younger generations; those age 55-70 have less than half (46%) their income allocate...Read More

Facebook’s decision may get more people talking about death

“While most people think about monetary assets and tangible possessions when writing their Will there are other things, for example, online assets and profiles, that also need to be considered. When a person dies, social media as well as other online services like email and banking will require specific information to deactivate the user's account. By making a record of the accounts you hold and your user details will help with this when the time comes.

“Facebook has made this easier now by rolling out its "legacy contacts" feature in the UK, allowing users to appoint an "online executor" of their profile to decide what...Read More

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Lifestyle Actuary

The trappings of fast paced city lifestyles rarely take into account the charm and elegance that a room, a dinner or a cup of tea can afford; characteristics lost to a by-gone era of debutante balls and black tie for dinner.

The Luddite

Sam Richardson looks into the up and coming and the outgoing of the technology and gadgetry world in 2014.

Travelling Actuary

This month's Travelling Actuary takes us to the iconic Boston to experience New England at it’s very best.

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