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This paper investigates the variables driving the demand for life insurance in Tunisia based on annual macroeconomic data spanning the period from 1990 to 2014 and collected from the Swiss Reinsurance company and the World Bank's databases. We provide a characterization of the Tunisian life insurance sector and a comparison to some emerging markets. Empirical results show that life insurance demand increases with income and financial development. However, other economic variables such as inflation and interest rate do not seem to influence life insurance consumption in Tunisia. Socio-demographic variables such as dependency, life expectancy at birth and the country's level of urbanization stimulate life insurance demand, while the level of education dampens it. Finally, pension expenditures have a negative effect on life insurance consumption confirming the substitution by social security system for private insurance. [ABSTRACT FROM AUTHOR]

India currently accounts for about 2 per cent of the world's life insurance premiums, although being the second most populated nation. Privatisation and product innovations have provided lot of choice for the customers. Life insurance Corporation of India (LIC) is currently market leader with nearly five decades of existence and enjoys enormous trust among the investors. Current study aims to explore the influence of demographic and psychographic variables on life insurance purchase as there are very few studies conducted in the Indian context. The study using robust method of logit regression, finds that demographic variables (age, tax assesse and non-tax assesse, and age) are found significant when predicting preference towards LIC and private life insurance organizations. [ABSTRACT FROM AUTHOR]

After liberalisation, India's life insurance industry has grown rapidly, in terms of products, policies and premiums and now strives to tap the huge potential opportunities. During the period 2000- 01 to 2011-12, the industry registered a CAGR growth of 21% in total premium and 25% in new business premium collections. This impressive growth was driven by entry of new players and evolution of new channels for distribution of products. The bancassurance channel 'Corporate Agents-Banks' helped the new insurer in selling insurance policies through banks, which more cost efficient and also logical to tap the market quickly. In Budget 2013-14, Finance Minister announced to permit banks to act as insurance broker, to increase the insurance penetration, which is around 4% and is much lower than developed market levels of 9-10%. Consequently, RBI and IRDA came with two different draft guidelines on 'Entry of Banks to Insurance Broking Business'. RBI's new norms are austere for the banks to motivate to enter to the new untapped business segments by way of broker. As per new guidelines, a number of small size banks are ineligible to conduct the insurance broking business and large banks are almost conducting insurance business through a subsidiary. Moreover, on an average, less than 2% of a bank's profit comes from selling insurance policies. So, if one accounts for the cost involved for banks to set up separate departments and train their staff for insurance broking, it does not seem a viable option. Further on 24 Dec. 2013, Finance Ministry issued a circular to PSBs to set-up a subsidiary that would force the banks to relinquish exclusive tie-ups with insurance firms and instead sell products offered by multiple insurers. The small banks fear that floating a subsidiary to sell insurance products and ending the exclusive arrangements with insurance companies, and breaking these agreements may be difficult. [ABSTRACT FROM AUTHOR]

The article provides an overview of universal life, an alternative product derived from traditional life insurance in the United States. It traces the evolution of universal life. Then, it cites the provisions of universal life insurance policies such as the death benefit always exceeds the reserve from the policy's inception through its maturity and the minimum guaranteed cash values and reserves are based on the Commissioner's 1958 Standard Ordinary Mortality Table. The mechanics of the operation of universal life include flexible premiums; adjustable death benefit and excess interest and lower than guaranteed mortality charges. Finally, it addresses several issues confronting the insurer, the agent and the policy holder of universal life. These issues include how universal life will be treated under the federal income tax law; the need for sophisticated, expensive data processing support systems; lower agents' commissions and the replacement of existing policies.

The article discusses how individuals can make the most of their life insurance benefits. A comparison between the premiums of term insurance and most permanent life insurance is presented. It is explained that life insurance can be considered as an effective asset protection strategy through various reasons including the fact that its cash value is shielded from creditors. It is also added that variable life insurance permits insurance policyholders to control their cash value investments.