Sun Life’s Post

LIA Singapore has recently announced the business results of Singapore's life insurance industry for the third quarter of 2023.    Despite facing challenging macroeconomic conditions, we have witnessed sustained demand for protection policies, with a remarkable 24.9% increase in sales of annual premium policies in YTD Q3 2023 as compared to the same period last year. 📈 This trend reflects the increasing awareness and recognition of the importance of insurance in Singapore as more individuals proactively seek ways to address their protection needs.    LIA Singapore remains steadfast in helping individuals achieve greater financial well-being and in bridging the gaps in mortality and critical illness protection. Our ongoing efforts are guided by insights from the 2022 Protection Gap Study and the recent launch of the Basic Financial Planning Guide. 🛡️📖   Looking forward, Dennis Tan, CFP®, President of LIA Singapore stressed that "While we look at providing support to address immediate and mid-term challenges, LIA Singapore also takes a long-term view of our responsibilities. LIA Singapore’s Sustainability Sub-committee will continue to chart the industry’s sustainability initiatives and work with member companies to further Singapore’s sustainability agenda.”    For more information, please visit our website: https://lnkd.in/gXHMYFCb #LIASingapore #LifeInsurance #Singapore #FinancialProtection Insurance Business Asia

"Weighted premiums for annual premium policies grew 25.2 per cent year on year to $866.5 million. LIA said the continued uptake in such policies showed a sustained trend where meeting protection needs are being prioritised in Singapore”. Seeing this article gave me re-assurance that our mindset towards insurance in Singapore has shifted to the positive side and people are becoming more aware of the importance of it. From an advisor standpoint, I will like to add on a few reasons why is this so. 1) Singaporeans generally acknowledge the fact that our lifestyles nowadays have inadvertently increased our risk for health problems. (E.g. longer working hours, less quality sleep and higher dependance on fast foods) 2) Medical advancements have been wonderful but medical inflation is NOT. A simple surgery can set you back a few ten grands, let alone those specialised treatments and miracle pills. 3) We want to provide ourselves with OPTIONS to obtain faster and more efficient treatments. We prioritise our time so we want to quickly bounce back to our normal selves as fast as we can. Since the start of 2024, I have also experienced an uptrend on how my friends are starting to look out for their loved ones' well-being as well. This has been truly heart-warming and hopefully, insurance will not just be a tool of money but also a tool of love. https://lnkd.in/g9fStNHg

Our Group Head of Distribution, Akhil Doegar, shares his insights on the evolving insurance landscape in The Business Times.   The insurance industry is at a critical juncture. New opportunities are emerging, but they also come with profound responsibilities. This presents a chance to rethink everything, from product development and distribution to the sector’s societal impact – all while adapting to changing consumer needs.   Akhil emphasises several key areas for consideration. First, insurers can move beyond one-size-fits-all products by offering more personalised insurance solutions that better address individual needs and financial goals. Second, as demographics shift, developing products and services that cater to the specific needs of a growing senior population becomes increasingly important. Finally, by placing a strong emphasis on sustainability and taking concrete steps to make a positive environmental and social impact, insurers can demonstrate their commitment to ESG principles.   At Singlife we’re committed to transcending the transactional role of a safety net to drive positive change for individuals, society, and the planet.   https://lnkd.in/gp4j2JHe #abetterwaytofinancialfreedom #abetterwaytosustainability #ESG #futureofinsurance

Employers, your most important business asset - your employees - need your help. A cost-of-living crisis survey released by nib and the Employers and Manufacturing Association shows declining mental and physical health among New Zealanders. They advise that of those who have been negatively impacted by the rising cost of living, half claimed negative effects on their mental health, while a quarter (26%) said it had worsened their physical health. This was higher for younger employees, with 63% of those aged 16-30 reporting harm to their mental wellbeing. New Zealanders have rising concerns for: - The mental health and wellbeing of family members (64%, up from 56%) - Personal mental health and wellbeing (55%, up from 51%) - Personal health (62%, up from 59%) - The risk of burnout at work (52%, up from 47%) Employees are looking for the following benefits when changing jobs: 64% of Kiwis said medical and health insurance (up from 57% in 2022), 48% nominated more comprehensive insurance such as income protection illness cover, 43% said life insurance and 26% said they would like more than the mandated parental leave. At Connect and Grow Limited we have the resources to help you design an effective and valued employee benefit programme to help you protect and reward your most import asset - your employees. If you would like to know more please book a free, no obligation, appointment with me here: https://lnkd.in/geKZCTCb For the full survey results please visit: www.wellbeing.ema.co.nz #employeebenefit #Connectandgrow #insurance #mentalhealth

Many insurers have recognised the opportunity to play a role in helping their clients maintain healthy habits that will, in turn, help them maintain their overall health. Hollard Life Solutions, notes that one of the biggest challenges is that many providers aim to attract healthy clients, with incentives in place to only benefit individuals who stay fit and keep super healthy. There is another way. Read more here : https://lnkd.in/dQ6zfpzW Hollard Insurance

The Council of Australian Life Insurers (CALI) has released its inaugural State of Australia’s Safety Net report, which looks into the lives of more than 5000 Australian workers, from their personal wellbeing and mental health to their financial resilience, and the safety nets they rely on.   The findings from this report show that Life insurers are the largest private sector provider of financial support for people experiencing mental health concerns, second only to the Federal Government. Access to affordable advice and guidance plays an important role in enabling Australians to make informed choices to support their future. However, the report finds that whilst almost a third of Australians considered seeking financial advice on life insurance, only 8% actually received it.

CALI has released its inaugural State of Australia’s Safety Net report, which looks into the lives of more than 5000 workers, from their personal wellbeing and mental health to their financial resilience, and the safety nets they rely on every day. The landmark report reveals that more than two-thirds of Australian workers are concerned that cost of living pressures will impact their ability to afford life insurance in the future. “Australia’s safety nets are stretched far too thin, and people are increasingly worried about falling through the cracks. Life insurers have a critical role to play to ensure that doesn’t happen,” said CALI CEO, Christine Cupitt. The report investigates how Australians interact with life insurance safety nets based on their age, gender and where they live. It reveals insights into why some people choose to have life insurance and why others don’t, and how these decisions impact their overall wellbeing. The research was conducted independently and led by one of Australia’s most respected social researchers, Dr Rebecca Huntley. “Higher living costs and the uncertain economic environment have led to increased stress levels and concern about mental health in our community,” she said. The report highlights the critical need for the passage of tranche two of the Federal Government’s Delivering Better Financial Outcomes legislation, which would allow life insurers to provide simple advice on their own products when customers ask them to, at no cost to the customer. Access your copy of the full State of Australia’s Safety Net report: https://lnkd.in/gQmugR_w #lifeinsurance #CALI #research #financialadvice #reforms

Beyond Insurance Company Values Respect We engage in all interactions from a place of respect. We respect our clients for the opportunity to do business. We respect our carriers for their trust in our firm, and we respect our individual team members for their commitment. Our success is built upon the value of respect, and in challenging moments we can rely on this value to be a guiding principle in our decision making. Continuous Improvement We hold ourselves accountable and encourage each other to pursue improvement. We engage in practices that encourage staff development, measurable processes and OKRs, and are continually looking for ways in which to be more efficient for our clients, staff, and insurance partners. Generosity We value the ability to give back to our community, and as such generosity is a core value of our business. The effect our decisions have on our connections, and the balance required by our business to take advantage of an opportunity, or to achieve a goal. Wellness Our company understands the pressure of providing a high level of service, and the consistency required to remain successful. The balancing of individual and corporate goals, requires a high level of commitment from our staff, partners, and leadership team; and as such wellness is a core value of our business. We provide opportunity and encourage our team to engage in activities that support their families, mental and physical health, and treat individuals with empathy in these pursuits. Connection We pursue meaningful connection throughout the course of our work. It is important for us to continuously connect with our community, our clients, our insurance partners, and each other. We foster an environment where connection provides opportunities for learning, spontaneity, and fun. We use our connections to bring positivity to the forefront and build excitement. #values #yqf #yyz

"For You, We Go Beyond" is a current promotional campaign slogan used by AIA insurance, not just a random phrase. It emphasizes their commitment to offering more than just basic insurance products. Here are some key points about the campaign: **Meaning:** * It signifies AIA's dedication to **exceeding expectations** and catering to diverse needs beyond just financial protection. * It conveys their focus on **supporting your well-being** through various initiatives, likely including health and lifestyle programs. * It highlights their **commitment to different areas of life**, such as wealth management, career aspirations, and family goals. **Examples of "going beyond":** * AIA Thrive (New Zealand) offers **personalized health and wellbeing programs** through AIA Vitality. * AIA Hong Kong provides **various medical protection plans** tailored to individual needs. **Overall, the slogan aims to portray AIA as more than just an insurance company, but a **supportive partner** in achieving a healthier, longer, and better life.** It's important to note that this **campaign is currently running in some regions, like Hong Kong and New Zealand**, and specific offerings may vary depending on your location. If you're interested in learning more about how AIA goes beyond insurance in your area, you can visit their website or contact a local representative.

Essential Employee Benefits: Affordable Insurance & Lifestyle Solutions Across South Africa Through our established network of private practices and service providers throughout South Africa, Essential Employee Benefits offers affordable insurance and lifestyle products to employers and thousands of employees and families. #essentialemployeebenefits #eebaboutus #healthcare #employeebenefits #service #insurance #lifestyle