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12 Jan 18 09:54

Now that we are all back in the office, conversation often centers on what our new year's resolutions are.

Whether you make these public or private, we all have them, and I am no exception. Personally, I'm going to focus on what is really important in life and spend more time with family and friends.

Another of my top resolutions for 2018 is to continue doing everything I can to build awareness for and help close the insurance protection gap.

Usually our resolutions involve some kind of unpleasant sacrifice in order to make them happen. For example, I need to give up chocolate and hit the gym in order to lose those extra pounds. You need to set aside daily time for practicing the piano or a new language in order to see results.

Since people are short-sighted, when these sacrifices seem to outweigh the elusive long-term benefit, many give their resolutions up. Life is of course full of trade-offs, but I believe that achieving peace of mind and security for your family is something that should not be a great sacrifice for anyone.

That’s why we at Life Capital are working hard to create affordable insurance solutions that can provide security and peace of mind to as many families as possible.

Life insurance protection has seen its share of total life premiums contracting since the 1990's, even though it plays a critical social function and life insurers occupy a unique position to solve the mortality protection gap, with almost no substitutes available from other corners of the market.

Protection levels have gone down despite the fact that personal risks for families have gone up. People are living longer (but not healthier) lives; social security systems in the developed world are strained; job security is not a given; inequality is widening faster than ever.

In the past, a major barrier to getting people the protection they need was a widespread perception that life insurance was unaffordable. This is no longer the case thanks to solutions by iptiQ. The cost of life insurance has fallen, so that for the price of a cup of coffee per day, you can help your loved ones cope with the devastation of a lost income and maximize their well-being forever.

You may not even be aware that you have a protection gap. However, it's highly likely that you do. In the US alone, the population mortality protection gap stands at USD 21 trillion, which works out to approximately 400k USD per household. In Europe, the figure is almost as large (USD 17 trillion).

Indeed, a lack of awareness about the gap is a huge part of the challenge to close it. However, I have seen too many families suffer unnecessarily because they were not protected in the event of misfortune. It could happen in a heartbeat.

As CEO of Swiss Re Life Capital, closing the protection gap is not only my New Year's resolution, but my overriding passion. With energy, commitment and effort, I am confident that we will reach our goal of protecting 10 million people by 2023.

It’s a new year and we all aspire for self-improvement, but thanks to simple and affordable life insurance, you can gain quality of life and peace of mind without a big sacrifice. If you are interested in becoming an iptiQ partner, please visit our website at iptiQ.com


Category: Other

Location: Zürich, Switzerland


1 Comment

Christian Liechti - 23 Jan 2018, 10:51 a.m.

I like the theme of gaining the peace of mind by a simple product with a very affordable price tag! Thanks for sharing this well written piece.
In his newest book - The Art of the Good Life - Rolf Dobelli is dwelling on why humans have the natural tendency to worry. Most of the time the worry is unnecessary and is only shortening our lives and reducing productivity. He is also presenting some simple solutions on how to 'switch off the loudspeakers in our mind', one of them is get insurance - or how he puts is: 'the real value is not the monetary benefit, but the reduction of anxiety beforehand'.


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