Secondary Life Insurance Product

Hrbor Life Settlement new infomercial alerts seniors not to cancel their policies or let them lapse. Seniors can sell their life insurance policies for tens of thousands, or in some cases, hundreds of thousands of dollars.

90% of Seniors Don’t Know they Can Sell Their Life Insurance Policies for Cash
Retirement is a time many people look forward to: it’s a period of life where seniors can enjoy the fruits of their many years of work. On a fixed income, it can become challenging to pay day-to-day expenses, plus face the additional strain of the cost of long-term care. At the same time, seniors may be faced with sharp increases in their life insurance premiums, further complicating their finances. 

Their life insurance policies, ironically, may be able to provide a solution to some seniors’ financial dilemmas. 90% of seniors don’t know that they have the legal right to sell their life insurance policies for cash. And, in some cases, this can be a great deal of cash; up to tens of thousands, or even hundreds of thousands of dollars.

Canceling or Letting Life Insurance Lapse Provides Nothing in Return
Harbor Life Settlements has produced a new informercial, Helping America’s Seniors. In this program, seniors can learn why it’s not a good idea to try and escape high life insurance premiums by canceling the policy or letting it lapse. First, if seniors cancel their policies, they will receive nothing in return; no rebate, no cash back, nothing. And that’s after paying premiums for years. Second, their life insurance policies are assets that they own, so it makes sense to find out how much those assets are worth in cash. That’s where Harbor Life Settlements can help.

Seniors Can Receive a Free Quote with a Competitive Cash Offer for Their Life Insurance Policies
One call to Harbor Life Settlements (800-694-0006) can help seniors get started with a free evaluation. Harbor Life streamlines the life settlement process so seniors have the best chance to receive a competitive cash offer for their insurance policies. Seniors who are at least 65 years old, and who own policies with at least a $100,000 death benefit, are encouraged to call. After a short process that takes only a few weeks (which could take months with other life settlement companies, or on one’s own), Harbor Life Settlements can help seniors find out what their policies are worth in cash. 

Even if seniors don’t wish to sell at the moment, they can still find out what their policies are worth. A time may come where some extra cash (which could be in the tens, or hundreds of thousands of dollars) could make all the difference to pay for long-term care, or anything else seniors wish to spend it on.

About Harbor Life Settlements
Harbor Life Settlements has over 30 years of experience in the industry, gaining them a reputation as a trusted source for those looking to sell their insurance policy for cash. Their qualified agents understand the complexities of the industry and are ready to consult with policyholders about any questions they may have. Visit their website for a free estimate or to learn more about the various services they provide, including life insurance policy valuations, viatical settlements, and life settlements.

Crafty Agents Naive Consumers

Malaysian consumers are being misled into purchasing products or services incorrectly. At the National Consumers Complaint Centre (NCCC), many people who sought help complained of agents from insurance companies who promised rebates or other benefits that were not valid.

Sales agents have to reach targets set by their companies. To do so, the unethical ones may resort to giving false promises. Upon signing up, victims discover that the promises cannot be fulfilled.

The situation becomes worse when the sales agent who made the false promises has been transferred or has resigned by the time the customer is aware of the issue. Such agents are usually temporary staff who move on after hitting their sales target with one company.

These frustrated customers had to turn to the NCCC for help, as they did not have a written agreement with the agent. Such customers learn that they have to go through a lot of hassle when they want to terminate wrongly bought policies before the policies mature – and, again, they were not informed of such liabilities. The amount of money and time lost is often quite substantial.

Newer agents, especially, do not understand or are unable to explain the content of the policies they sell and what clients are entitled to in case of any emergencies.

According to the NCCC, almost 500 consumers complained last year about issues related to refunds and misleading information given by insincere agents.

Insurance companies should consider conducting training for new agents to ensure they know their products comprehensively. They must make it compulsory for new agents to pass stringent examinations that encompass all issues related to insurance before endorsing people as qualified agents.

These agents should also be tested by senior agents through peer group training or mentoring, whereby the new agents could be exposed to mock simulation situations in which many questions will be put to them by senior agents posing as inquisitive customers.

Insurance companies should also set the rule that all agents must attend refresher courses periodically to enhance their knowledge of the latest policies available in the market.

The issue regarding insurance companies not providing clear descriptions of their products for the benefit of their customers was highlighted by Datuk Dr Paul Selvaraj, CEO of the Federation of Malaysian Consumers Associations recently. He emphasised the need for a product disclosure statement in which all key terms and conditions are presented to customers in simple language so that consumers are very clear about what they are signing up for.

Bank Negara should work with the Life Insurance Association of Malaysia and the General Insu-rance Association of Malaysia to formulate clear and concise guidelines for customers to read and understand terms and conditions.

Customers must also be aware that they have the right to ask agents to provide them with a written agreement on rebates that must be signed by both parties to prevent them from being cheated or falling prey to cheating agents.

Customers should always ask agents about issues they may face if they were to terminate insurance policies before the maturation dates.

Also, be aware that insurance companies, according to the Life Insurance Association of Malaysia, provide a “cooling off” period, also known as “free look” period, of 15 days for the customer to study the details and terms and conditions of the policy before deciding if they want to go ahead with the policy or return it.

If the customer decides to return the policy, he or she would be entitled to a refund of costs after deducting medical examination and administrative costs. The waiting period for the refund is 30 days.

In a nutshell, both parties must take responsibility: The agent must be sincere, knowledgeable and committed in his or her work and the customer must be alert and request thorough explanations about policies they want to purchase, including about penalties for revoking policies.

Be a smart and wise consumer!

S. BASKARAN ,Senior Manager National Consumer Complaint Centre (NCCC)

Malaysia - 70% Life Insurance Penetration 2020

The finance minister is not confident that the 2020 target of a 75 per cent life insurance penetration rate set under the Barisan Nasional (BN) administration is achievable.

Speaking to a press conference after launching Menara Prudential today, Lim Guan Eng said the current 55 per cent was far from next year’s target and the federal government will be revising the figures this year. 

“That (75 per cent) was the original target set by the previous government. We will have to see what happens next year. After that, we will conduct assessments in terms of penetration, shortfalls and what needs to be done. It (the shortfall) is based on price and affordability. Knowing that the penetration rate is far below the target, we introduced MySalam, a free protection policy catering to the B40 group.

“In the event someone (MySalam policy holder) is afflicted with one of the 36 critical illnesses, the person will receive a one-off payment of RM8,000 from the government and income substitution of RM50 per day for 14 days at government hospitals only. The income substitution is renewed annually,” he said.

During the launch, he also called on insurance providers to provide and develop insurance protection plans for the under-served and under-protected who come from the B40 group.

Lim urged insurance companies to provide more diverse and affordable insurance products.

“Thus, the government and Bank Negara Malaysia are taking every effort to realise the national agenda for the national insurance penetration rate to reach 75 per cent in 2020.

“Insurance providers should further develop insurance protection plans for the under-served and under-protected who are largely from the low-income group or the B40. This includes providing Malaysians with more diversified and affordable choices,” said Lim.

He pointed out that Malaysia’s life insurance penetration rate has stagnated at 55 per cent for years. Bank Negara’s data also found that less than 41 per cent of Malaysians have at least one individual or group life insurance policy or family takaful.

Vaking Kills

The American Medical Association on Monday urged Americans to stop using electronic cigarettes of any sort until scientists have a better handle on the cause of 450 lung illnesses and at least five deaths related to the use of the products.

The AMA, one of the nation's most influential physician groups, also called on doctors to inform patients about the dangers of e-cigarettes, including toxins and carcinogens, and swiftly report any suspected cases of lung illness associated with e-cigarette use to their state or local health department.

The recommendation followed advice from the U.S. Centres for Disease Control and Prevention on Friday for people to consider not using e-cigarette products while it investigates the cause of the spate of severe lung illnesses associated with vaping.

Many, but not all, of the cases have involved those who used the devices to vaporize oils containing tetrahydrocannabinol (THC), the psychoactive component of cannabis.

Public health experts have not found any evidence of infectious diseases and believe the lung illnesses are probably associated with a chemical exposure.

Megan Constantino, 36, from St. Petersburg, Florida, quit vaping six days ago after hearing reports of the illnesses and deaths related to vaping.

"It scared me into quitting," she said.

Like many users of vaping pens, Constantino picked up the device after quitting cigarette smoking three years ago, and said, "It's the hardest thing I've ever done."

She added, "I threw the last cartridge away. I took a picture of it and I literally cried."

Constantino said many people who vape have been "on pins and needles" for the investigation results, and she is concerned that the reports of a link to vaping THC may give people an excuse to ignore the warnings.

E-cigarettes are generally thought to be safer than traditional cigarettes, which kill up to half of all lifetime users, the World Health Organization says. But the long-term health effects of vaping are largely unknown.

The U.S. Food and Drug Administration has faced mounting pressure to curb a huge spike in teenage use of e-cigarettes, a trend that coincided with the rising popularity of Juul e-cigarettes.

"We must not stand by while e-cigarettes continue to go unregulated. We urge the FDA to speed up the regulation of e-cigarettes and remove all unregulated products from the market," AMA president Dr. Patrice Harris, said in a statement.

Gregory Conley, president of the American Vaping Association, which advocates for cigarette smokers to switch to nicotine-based vaping devices, said the AMA should be "ashamed of themselves for playing politics with people's health and protecting the profits of drug dealers."

He criticized the AMA for "fearmongering about nicotine vaping products" while not mentioning "the very real risks of vaping illicit THC products."

Juul Labs declined to comment. Altria Group Inc owns a 35 percent stake in Juul.

Migrating From Employee To Entrepreneur

Do you want to make the jump from working for an employer to running your own business? Odds are that if you suck as an employee now, then you won’t make it as an entrepreneur. It sounds harsh, but that’s real talk.

As an employee, if you don’t build the skills you need to thrive as an entrepreneur, especially in terms of having a strong work ethic, then it’s incredibly difficult to flip a switch and all of a sudden thrive as an entrepreneur.

I know you’re probably thinking that the two situations are unrelated. Maybe you don’t like your boss, or you’re bored with your work assignments or there’s some other factor that you think you can change when you become an entrepreneur. But the truth is that you have an even higher level of accountability to others and higher expectations to overdeliver as an entrepreneur than as an employee.

Even if you’re passionate about the business you’re trying to build, you probably won’t make it if you don’t have the work ethic to do all the little things that aren’t so fun, but which are necessary to succeed. Of course there are exceptions and extenuating circumstances that make someone a better entrepreneur than an employee, but generally, you need to build the work ethic to thrive in any environment first. 

You will always have a boss. If you want to be an entrepreneur so you can work for yourself, you need to come to terms with the fact that you will always have a boss. In fact, you will likely have several bosses as an entrepreneur. It may sound cliche, but your clients, partners, affiliates, etc., are all your bosses. If you don’t deliver on what you say you will on time, they have the ability to stop working with you.

If you don’t have the work ethic now to do what your boss asks, imagine what that will be like as an entrepreneur. If you run a graphic design business and your client asks you to make edits to a design you think is perfect, do you really think you have the ability to brush off that request? If you do, that client could easily stop working with you and find another designer.

Especially when you’re first starting out, you likely will need to take on a lot of tasks yourself that fall outside of your core business skills, so take the time now as an employee to learn how to get comfortable doing grunt work and going the extra mile so that you can do the same as an entrepreneur. 

The business world won’t change to fit your schedule. Do you want to be an entrepreneur because the 9 to 5 corporate schedule doesn’t mesh with your lifestyle? Well, even though you have the option to sleep late if you run your own business, you can’t change the fact that most other businesses still operate on a 9 to 5 schedule.

If your client can only meet at 9 a.m., then you have to get up and go to that meeting just like you’d go to a normal job. If you don’t have the work ethic to do so, you’ll lose out on clients.

And if you think you can take off whenever you want, don’t forget that your own schedule may not align with your clients’ schedules. Right now, you may just have to request off from one boss, but if you want to take a vacation as an entrepreneur and plan on going off the grid, you’ll have to check in with all your bosses (your clients and partners), let them know about your plans and hope they’ll still want to work with you when you get back. The more realistic scenario is that you’ll always be somewhat on the clock, especially when you’re first starting out. 

Use your time as an employee as paid training. Even though being an entrepreneur takes a lot of hard work, it’s still a very rewarding lifestyle because you get to take more ownership over what you do. As an employee, it can be frustrating to overdeliver and not see the rewards in terms of praise or compensation, but as an entrepreneur you get the great feeling of making your clients happy and growing your business. And over time, you can build strong relationships with clients and hire others to help you out so that you potentially can have more flexibility and freedom to do what you want than you would as an employee.

To get to that point, however, you need to have a strong work ethic, marketable skills and a strong network of people to turn to for leads, advice and support. You can build all of that at your current job while getting paid, whereas you’ll have little to no income if you try to learn all that on the job as an entrepreneur.

So whether you’re a barista, a lawyer or any other type of role, think of your time as an employee as paid training if you’re serious about being an entrepreneur. Stretch yourself to take on tasks you normally wouldn’t want to do, learn from those who have more experience than you, see how they interact with clients, and form strong relationships with others, because you’ll never know who can turn into a valuable contact later on when you’re running your own business.

If you can do all that, you’ll have a better chance of making it as an entrepreneur. 

Heart Disease, Kidney failure & Cancer - Broke BPJS

Costly treatments for heart disease, kidney failure and cancer, health problems that could be prevented with healthier lifestyle or curable with early detection, have bogged down Indonesia's universal health insurance scheme in the past few years and amplified health insurance agency BPJS Kesehatan's deficit problem.  

BPJS spokesman Iqbal Anas Ma'ruf said the agency spent Rp 78 trillion ($5.5 billion) throughout 2014-2018, around 17 percent of the agency's spending over the period, to pay for treatment for the three serious illnesses.  

Over the same time, the agency accumulated Rp 9 trillion in deficit with outstanding debt to hospitals and pharmaceutical companies.  

"These are the two sides of a coin. On the one hand, more people are receiving help because they could access cancer treatment. But on the other hand, expenses are increasing each year. This is where the problem lies, how to control the catastrophic number of patients, including cancer patients," Iqbal said in Jakarta on Thursday.

Ira Soelistyo, the head of the Indonesian Association of Children With Cancer (YKAKI) said state insurance helps a lot of families because cancer treatment for children is very expensive. Ira said from time to time there are unexpected expenses that need to be covered, and YKAKI would often have to lend a hand to pay for medical treatment children with cancer might need.

Iqbal said the agency is actively educating the public to lead a healthier lifestyle to prevent these diseases. He also regrets the fact that many BPJS members neglect to pay their insurance premium. When they do, they pay just when they are about to be admitted to the hospital for a serious illness and then stopped paying the monthly premium after they recover. 

Major Deficit - BPJS Kesehatan is currently carrying a major deficit due to unpaid medical bills that have piled up since its establishment in 2014. The insurance is projected to accumulate Rp 28 trillion in deficit this year, Rp 9 trillion of which was carried over from last year.

Finance Minister Sri Mulyani Indrawati said the government intends to set aside Rp 48.8 trillion for healthcare in the 2020 state budget, a much larger provision than this year's Rp 26.7 trillion.

The House of Representatives (DPR) is still debating a plan to bump up BPJS Kesehatan's premium. It has so far refused to increase the insurance's lowest premium from Rp 25,500 to Rp 42,000 a month.

The National Social Security Council (DJSN), who has the mandate to formulate the fee, said the premium increase plan has been well thought out.

"Our calculation is already very balanced, based on fee comparisons according to every segment, service trend and available data," council member Angger Yuwono said on Thursday.

Nevertheless, he said, the DJSN is aware the increase in premium is likely to be met with disagreement from the public and the government.

The council recommends that subsidized customers of BPJS Kesehatan – those who come from poor families – should now pay the same premium as the insurance's third-tier members of Rp 42,000 per month, a 65 percent increase from the current Rp 25,500 per month.

Second-tier members should pay a premium of Rp 80,000 per month (Rp 51,000 previously) and first-tier members should pay Rp 120,000 per month (Rp 80,000 previously).

Malaysia Micro-Financing - AIM

Since its establishment in September 1987, microfinance institution Amanah Ikhtiar Malaysia (AIM) has helped 700,000 low-income households (B40) across the country transform themselves into middle-income households (M40).

Another accomplishment of AIM has been its ability to retain a 98 per cent repayment rate during its 32-year existence, a feat which had not been matched by similar bodies, announced Deputy Finance Minister Datuk Amiruddin Hamzah today.

The institution was continuing to increase its number of clients in line with the government’s exhortation to microfinance institutions to encourage entrepreneurship among low-income Malaysians, he said during a press conference at the Fiesta Sahabat AIM 2019 held at the Industrial Training Institute (ILP) here.

There are currently 342,202 borrowers throughout the country who are registered with AIM, out of a target of 400,000, said AIM chairman Datuk Junaidah Kiting, adding that its new plans included free beauty, health, massage, spa and post-natal care courses which would be offered towards the end of the year.

AIM has 4,650 clients in Perlis who have been supported with a total of RM24,253,800 in financing, with the institution targeting to increase its clientele in the state to 6,805 supported with funding of RM38,253,800.