資本市場(chǎng)和金融機(jī)構(gòu)(4)-展示頁
2025-05-25 02:19本頁面
【正文】 e (bil li ons) As sets (bil li ons) 1 . Manu lif e Finan cial Co rpo ration $ 2 7 .3 $ 1 8 4 .2 2 . Grea t W est Lif e Assu rance Co . 2 1 .9 7 1 .1 3 . Su n L if e Finan c ial I n c. 2 1 .8 1 0 7 .8 4 . Ind u strial Allian ce Pac if ic Lif e I n s 3 .7 1 .96 5 . Desjardin s Fi n a n cial Securit y Lif e 2 .8 5 .2 6 . Medav ie Blu e C ros s 1 .5 0 .17 7 . SSQ F in an cial Grou p 1 .0 2 .5 8 . RB C Lif e I n su ra n ce Co . 0 .9 3 .9 9 . Tr an sa m eri ca Li f e Can ad a 0 .8 4 .1 1 0 . E m p ire L if e Ins u rance 0 .7 2 .82 8 ? Types of Life Insurance ? Individual Life Insurance: Tailored to specific needs of policy holder. ? Costly pared to group life insurance ? Whole life insurance: It bines a death benefit with a kind of savings plan (surrender value). ? Term insurance. It covers a specified period of time and pays the face amount upon death but accrues no cash value. ? Universal Life and Variable Universal Life. More popular: It bines a term life insurance and one for savings. The policyholder can change the maturity and amount of premium. ? Credit life insurance. Protects lenders against a borrower’s debt prior to the repayment of a debt (., mortgage or car loan) ? Group Life Insurance: Cover a group of people under a single policy ? Decrease adverse selection and moral hazard. ? Term insurance only. 9 Other financial services: ? Wealth management Sale and management of annuity contracts, and registered retirement savings plans (RRSP) RRSP. Plan in which tax deductible contributions are made to accumulate a retirement fund. ? Management of pension funds. 10 ? Life annuity (longevity insurance): Reverse of life insurance. ? While life insurance involves different contractual methods to build up a fund and the eventual payout of a lump sum to the beneficiary, ? Annuities involve different methods of liquidating a fund over a long period of time ?It involves a periodic payment to the annuitant until his or her death (mostly). 11 Numerical example: Life Insurance vs. Life Annuity ? Life Insurance (insurance against early death) ? Peter Lewis is 55 yrs old. He bought an insurance life contract that will pay $20,000 to its beneficiaries when he dies. His yearly contributions are $1,200 indefinitel
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