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Financial Sector Finds In October 12 Select List

Financial Sector Finds In October 12 Select List

This week, we highlight some substantial movement in the Financials portion of the Select List. With another U.S. stimulus package on the horizon, it would be wise to keep a finger on the pulse of Index and Financial based ETFs.

Moving up two spots to claim the number one position this week is IAT, the iShares US Regional Banks ETF. Runner-up goes to Invesco KBW High Dividend Yield Financial ETF, KBWD, coming all the way up from the number five spot.

SPDR S&P Insurance ETF, KIE, fell one spot, coming in third this week. Invesco KBW Regional Banking ETF, KBWR, and Financial Select Sector SPDR Fund, XLF, rounded out the top five, respectively.

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Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Business relationship disclosure: I am an employee of ETF Global.

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How To Select Your Life Insurance Policy During Coronavirus

How To Select Your Life Insurance Policy During Coronavirus

As the world is battling with the deadly COVID-19, major concerns around combatting the fallouts of the impact of the virus have been ubiquitous. India, a country of 1.38 billion people, has been facing one such concern—ambiguous financial future.

With life insurance penetration at 2.74% as of 2018 and expectations for the life insurance industry to grow 12% to 15% annually over the next three to five years, now may be a good time to consider life insurance policies that may help ease your anxiety about protecting yourself and your loved ones financially.

We spoke to insurance companies offering life insurance to know how to select your life insurance policy during the coronavirus pandemic. Here’s what they said. 

Choose A Life Insurance Plan That Offers Protection First

Although the crisis has created uncertainty, it has also offered insurance companies time to think more deeply about innovation, improved customer experiences, fundamentally different cost structures, and an upskilled and reskilling workforce, says a McKinsey report.

Given how insurance companies are tailor-making their policies to address life insurance concerns holistically, this could be an ideal time to select a policy that protects you as well as your savings. Let’s look at your options:

Term Life Insurance Plans

Term life insurance plans offer protection to an individual for a set period of time or term decided upon for which a premium is paid. In the event of death or total and permanent disability, depending on the policy, the life assured’s dependants are paid a benefit. If the policyholder survives the term of the term insurance plan, no benefit is normally payable.

Tarannum Hasib, chief distribution officer of Canara HSBC Oriental Bank of Commerce Life Insurance, finds term plans basic hygiene for every earning member of the family as they serve as income replacements

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