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Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person. Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policy holder typically pays a premium, either regularly or as one lump sum. The benefits may include other expenses, such as funeral expenses.
Health insurance or medical insurance is a type of insurance that covers the whole or a part of the risk of a person incurring medical expenses. As with other types of insurance is risk among many individuals. By estimating the overall risk of health risk and health system expenses over the risk pool, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to provide the money to pay for the health care benefits specified in the insurance agreement. The benefit is administered by a central organization, such as a government agency, private business, or not-for-profit entity.
Variable universal life insurance is a type of life insurance that builds a cash value. In a VUL, the cash value can be invested in a wide variety of separate accounts, similar to mutual funds, and the choice of which of the available separate accounts to use is entirely up to the contract owner. The 'variable' component in the name refers to this ability to invest in separate accounts whose values vary—they vary because they are invested in stock and/or bond markets. The 'universal' component in the name refers to the flexibility the owner has in making premium payments. The premiums can vary from nothing in a given month up to maximums defined by the Internal Revenue Code for life insurance. This flexibility is in contrast to whole life insurance that has fixed premium payments that typically cannot be missed without lapsing the policy.
MetLife, Inc. is the holding corporation for the Metropolitan Life Insurance Company (MLIC), better known as MetLife, and its affiliates. MetLife is among the largest global providers of insurance, annuities, and employee benefit programs, with 90 million customers in over 60 countries. The firm was founded on March 24, 1868. MetLife ranked No. 43 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.
Universal life insurance is a type of cash value life insurance, sold primarily in the United States. Under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy, which is credited each month with interest. The policy is debited each month by a cost of insurance (COI) charge as well as any other policy charges and fees drawn from the cash value, even if no premium payment is made that month. Interest credited to the account is determined by the insurer but has a contractual minimum rate. When an earnings rate is pegged to a financial index such as a stock, bond or other interest rate index, the policy is an "Indexed universal life" contract. Such policies offer the advantage of guaranteed level premiums throughout the insured's lifetime at a substantially lower premium cost than an equivalent whole life policy at first. The cost of insurance always increases, as is found on the cost index table. That not only allows for easy comparison of costs between carriers but also works well in irrevocable life insurance trusts (ILITs) since cash is of no consequence.
Tokio Marine Holdings, Inc., is a multinational insurance holding company headquartered in Tokyo, Japan. It is the largest property/casualty insurance group in Japan in terms of revenue and is the parent company for the Tokio Marine Group which employs 39,000 people in 38 countries worldwide.
Sun Life Financial Inc. is a Canadian financial services company; it is primarily known as a life insurance company. It is one of the largest life insurance companies in the world; it is also one of the oldest, with a history spanning back to 1865.
Prudential Financial, Inc. is an American Fortune Global 500 and Fortune 500 company whose subsidiaries provide insurance, investment management, and other financial products and services to both retail and institutional customers throughout the United States and in over 40 other countries.
In the United States, an annuity is a structured (insurance) product that each state approves and regulates. It is designed using a mortality table and mainly guaranteed by a life insurer. There are many different varieties of annuities sold by carriers. In a typical scenario, an investor will make a single cash premium to own an annuity. After the policy is issued the owner may elect to annuitize the contract for a chosen period of time. This process is called annuitization and can also provide a predictable, guaranteed stream of future income during retirement until the death of the annuitant. Alternatively, an investor can defer annuitizing their contract to get larger payments later, hedge long-term care cost increases, or maximize a lump sum death benefit for a named beneficiary.
Life insurance is one of the fastest growing sectors in India since 2000 as Government allowed Private players and FDI up to 26% and recently Cabinet approved a proposal to increase it to 49%. In 1955, mean risk per policy of Indian and foreign life insurers amounted respectively to ₹2,950 & ₹7,859. Life Insurance in India was nationalised by incorporating Life Insurance Corporation (LIC) in 1956. All private life insurance companies at that time were taken over by LIC. In 1993, the Government of India appointed RN Malhotra Committee to lay down a road map for privatisation of the life insurance sector.
Assurant, Inc. is a global provider of risk management products and services with headquarters in New York City. Its businesses provide a diverse set of specialty, niche-market insurance products in the property, casualty, extended device protection, and preneed insurance sectors. The company’s three operating segments are Global Housing, Global Lifestyle, and Global Preneed.
Telekom Malaysia Football Club or commonly known as TMFC is a now defunct Malaysian football club, which originated from Malacca until the club moved their base to Kuala Lumpur on their last season. The club's final home ground was the 25,000 capacity MPPJ Stadium. The club used to play in the top division of Malaysian football, the Malaysia Super League until its final season in 2006–07 Malaysia Super League.
The Malaysia FA Cup, known as Shopee Piala FA for sponsorship reasons, is an annual national knock-out football tournament in Malaysia. The cup was first held in 1990. The competition was previously managed by Football Association of Malaysia (FAM) before it was transferred to Football Malaysia LLP (MFL) in the 2016 season.
Juvenile life insurance is permanent life insurance that insures the life of a child. It is a financial planning tool that provides a tax advantaged savings vehicle with potential for a lifetime of benefits. Juvenile life insurance, or child life insurance, is usually purchased to protect a family against the sudden and unexpected costs of a funeral and burial with much lower face values. Should the juvenile survive to their college years it can then take on the form of a financial planning tool.
Abdul Wahid bin Omar is the non-executive chairman of Bursa Malaysia since 1 May 2020. He is also the chairman of the board of directors of Universiti Kebangsaan Malaysia (UKM), one of Malaysia top universities, since 1 November 2018.
The Malaysia Super League is the men's top professional football division of the Malaysian football league system. Administered by the Football Malaysia Limited Liability Partnership (FMLLP), now known as the Malaysian Football League (MFL), the Malaysia Super League is contested by twelve teams that operates on a system of promotion and relegation with the Malaysia Premier League, with the two lowest-placed teams relegated and replaced by the promoted top two teams in that division.
Royal Sundaram General Insurance Co. Ltd., a subsidiary of Sundaram Finance Group, is the first private sector general insurance company in India to be licensed in October 2000 by the Insurance Regulatory and Development Authority of India.
Petaling Jaya Rangers Football Club or PJ Rangers is a professional football club based in Petaling Jaya, Selangor. Founded in 2011, the club's home ground has been in multiple different stadiums before moving to AirAsia Stadium in Petaling Jaya.
FWD Group is a multinational insurance company based in Hong Kong. Founded in 2013 as the insurance arm of Pacific Century Group, FWD Group sells life and medical insurance, general insurance and employee benefits in Asia. The company had USD$50.9 billion in assets under management in 2020 and in 2021 was managing USD$63 billion in assets. On June 17, 2021, FWD filed for a US IPO. FWD currently operates in Hong Kong, Japan, Macau, Singapore, Thailand, Philippines, Indonesia, Vietnam, Malaysia and Cambodia.
References
- 1 2 "Utusan Malaysia Online - Korporat". Utusan.com.my. 2010-04-16. Retrieved 2010-10-03.
- ↑ "Bumper year for many insurers". Asiaone.com. 2010-08-27. Archived from the original on August 31, 2010. Retrieved 2010-10-03.
- 1 2 "TM Asia Life Rolls Out Life Insurance Plan With Minimum Benefit Feature". Brudirect.com. 2010-04-12. Retrieved 2010-10-03.
