Bank of East Asia to sell life insurance business following strategic review

a sign on the side of a building: Bank of East Asia posted a 53 per cent increase in first half net profit despite a weak economic environment. Photo: Bloomberg

Bank of East Asia posted a 53 per cent increase in first half net profit despite a weak economic environment. Photo: Bloomberg

The Bank of East Asia (BEA) said it would sell its life insurance business and seek potential partnerships to grow its core business following a months-long strategic review prompted by a long-running shareholder battle with Paul Singer’s Elliott Management over the lender’s direction.

Hong Kong’s largest independent and family-run bank said the sale of BEA Life would enhance the value of its business, improve the lender’s financial position and enable management to focus on its core banking operations in Hong Kong and mainland China.

As part of the sale process, the 101-year-old lender said it would seek to enter into a long-term exclusive distribution agreement to sell insurance products through its banking platform.

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Why all life insurance policies should be issued in paperless format

a person sitting at a table using a laptop: Why all life insurance policies should be issued in paperless format

© M Saraswathy
Why all life insurance policies should be issued in paperless format

When S Marakatham’s husband passed away in Tiruchendur, Tamil Nadu, she didn’t even have a clue about his three life insurance policies, cumulatively worth Rs 20 lakh. When the premium was due, she got a call from the company officials who were then informed that the policyholder had died. While one would presume that Marakatham would have received the claim amount.

The process wasn’t so simple!

Due to being unaware of an insurance being purchased, she was not able to locate the original policy documents. The insurance company refused to pay the death claim unless Marakatham submitted the documents. By this time, 30 days had passed since her husband’s death.

Insurance rules stipulate that an insurance claim has to be filed within 90 days of the policyholder’s death with the necessary documents like death certificate, age

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‘Call It Love Insurance’: Life Insurance Awareness Month 2020 Begins

A screenshot from part of a Life Insurance Awareness Month 2020 chat that took place on Twitter Wednesday. (Credit: Life Happens)

Too many people think of buying life insurance as something boring that they ought to do, a top financial advisor said Wednesday.

The first step toward persuading the uninsured to get covered is “the overcoming of the so-called ‘grudge purchase’ syndrome that public has around life insurance,” Kobus Kleyn tweeted, during a Twitter chat organized by Life Happens. “The public must perceive life insurance as an ‘investment’ into their families.”



Life Happens has been organizing Life Insurance Awareness Month campaigns every September since 2004. This year’s campaign started Tuesday.

Brooke Shields, an actor known for appearing in films like “Blue Lagoon,” and TV shows like “Suddenly Susan,” is returning as the campaign spokesperson, and working to deliver the message, “The time for life insurance is now.”

COVID-19 is

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Will life insurance pay if you die during a grace period? It depends.

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.

Many companies, like mortgagors, credit card issuers, and student loan providers, have offered customers grace payment periods or deferments to alleviate some of the financial burden of the coronavirus. Likewise, most life insurance providers extended their grace payment periods in response to the pandemic. 

As weeks have turned into months of social distancing and quarantine, whether these extended grace payment periods will continue might be a concern for those experiencing financial hardship. If you’re not current on payments and you die, will your beneficiaries still get your payout?

Will life insurance pay if you die during a grace period?

“Your grace period — the amount of time you have to

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Life Insurance Quotes | FinancialOne

Financial One allows our visitors the ability to compare quotes.
Getting instant rates, whether you are looking for whole life,
term life insurance, or a no
physical exam policy,
our online quote comparison tools makes this
process as quick as 1-2-3! uses the latest technology
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simply to shop all the nation’s leading providers.

Compare Multiple Rates Online

Why would you just want one quote? We give you the ability to over
100 prices side by side from the comfort of your home. Many people
prefer to compare online and calling a licensed life insurance agent
to complete the buying process.

Are process is simple. Click on the Start Now button to begin entering
your information. Once you click submit you will be taken to a

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Money Instructor – Personal Finance, Business, Careers, Life Skills Lessons

Teach and learn basic money skills, personal finance, business, careers, and life skills.

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Use our worksheets, lessons, and activities for teaching money, personal finance, business, and life skills.

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Lessons, Lesson Plans, and Worksheets

Lessons, lesson plans, worksheets, and other material for teaching money skills, personal finance, business, careers, and life skills.

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Useful personal finance information, articles, advice, and tips to help you with your own spending, financial planning, career, business, and other life skills.

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Many young people graduate without a basic understanding of money and money management, business, the economy, and investing. We hope to help teachers, parents, individuals, and institutions teach these skills,

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How COVID-19 Could Affect Your Life Insurance Coverage

It’s mostly good news.

3 min read

Opinions expressed by Entrepreneur contributors are their own.

The coronavirus pandemic has many of us thinking about worst case scenarios. It’s only natural that people are considering whether, in the event of their absence, their loved ones would be financially protected. If you’re reading this, you’ve probably given it some thought yourself. 

Here’s the good news: 

If you have an active life insurance policy and you were to die of a pandemic illness such as COVID-19, your family would receive the death benefit — even if you had traveled to an area with a known outbreak of the coronavirus. 

The only situation in which that might not be true is if you were just recently approved and you failed to disclose certain information on your application about your travel plans and/or exposure to the coronavirus. 

Also, if you keep your 

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Insurance for Car, Home, Contents, Life, Pet from Real Insurance

All product information displayed on this website is subject to policy terms and conditions (including eligibility criteria, exclusions and limitations).

The Insurer for general insurance products (unless otherwise specified) is The Hollard Insurance Company Pty Ltd (ABN 78 090 584 473) and for all life insurance products is Hannover Life Re of Australasia Ltd (ABN 37 062 395 484). Any advice provided is general only and may not be right for you. You should carefully read the relevant Product Disclosure Statement (PDS) to ensure the product is right for you. A copy of each PDS

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Auto, Home, Life and Business Insurance

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Life Insurance: Compare Life Insurance Policies

Consumers interested in finding out more about

can use Canstar to compare policies and narrow their search before seeking quotes from the providers. As premiums for

will vary depending on your personal circumstances and the extent of cover you are after, the most effective way to get an accurate

is often directly through the provider, either through an online quote form or by contacting them.



premium quote you receive will be dependent on a number of factors that can include your age, gender, medical history, occupation and whether or not you smoke. Typically, a quote for a policy for a male will be higher than for a female, and smokers pay more than non-smokers.


There are a number of life insurance options available in Australia, and you may choose to bundle a number of products together, such as total and permanent disability (TPD), trauma or life insurance. If you’re

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