AMICE Mutuals’ Post

We, Folksam and Forena, hope that insurance companies in other countries will introduce protection in case of domestic violence, so that the protection will be available all over the EU. This is what Jens Wikström said at the Social Dialogue for the Insurance Sector yesterday in a joint presentation with Sarah Goddard AMICE Mutuals and Susanne Lindberg Forena. Globally one in three women meet physical or sexual violence in their lifetime. Domestic violence is a big societal problem. Yet it is a type of criminality that is not always met with as robust measures as other types of criminality by policymakers and society at large. We think that the society and leading actors in society can do better. As the economic situation is a hindrance when women - they are the large majority* - consider leaving a violent relationship - insurance companies we have an important role to play via the insurance protection in case of domestic violence. *The protection is of course also available for men and children who are subject to domestic violence. When Folksam, as the first insurance company in Sweden, introduced compensation and support for persons who suffer domestic violence in our home insurance 2018, we introduced it for many reasons. For example since our customers, via trade unions who represent their members who are our customers asked for it. We also introduced the cover for reasons of equality; men who were abused at the pub could get compensation, but women who were abused at home could not get any compensation. That was not ok. Introducing it felt like the right thing to do. And by introducing this protection in the home insurance we also hoped to set a new standard in the insurance industry. Since 2018 a lot has happened. Folksam improved the protection via an economic support to cover urgent extra expenses for those that have to flee their homes in 2021. Today the protection is available for 95 % of the Swedes as several other Swedish insurance companies now have introduced the protection and the protection is, according to Forena’s report also available in Iceland. Hanna Wallinder Jimmy Johnsson Jens Wikström Martha Ekström Christina "Tina" Hedman #DomesticAbuse

Mutual insurer Folksam has launched customizable child insurance to combat potential economic pressures, improve coverage for Sweden's youth, fill a protection gap, and provide a financial safety net. Folksam aims to cover accidents and illnesses and provide financial support for children with permanent disabilities. Potentially, over 1.5 million Swedish children lack individual child insurance, leaving them vulnerable to disability income limitations. Some might question the morality of such insurance, asking if it is right to insure children this way. My view is that it makes sense to seek protection. The financial burden of caring for a sick child can be great, and insurance can help provide peace of mind if the unthinkable happens. Folksam ICMIF #insurance https://lnkd.in/eggVzP_w

Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) both allow working beneficiaries to deduct certain work-related expenses from their countable income, making it easier to qualify for benefits or, in the case of SSI, to receive a larger payment. #SSDI #SSI #TresiWeeks https://bit.ly/3WcLBme

Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) both allow working beneficiaries to deduct certain work-related expenses from their countable income, making it easier to qualify for benefits or, in the case of SSI, to receive a larger payment. #SSDI #SSI #TresiWeeks https://bit.ly/3WcLBme

Prepare for the unexpected with disability insurance to safeguard your income. Disability insurance replaces a portion of your income if you become unable to work due to illness or injury. It provides financial stability by covering essential expenses like mortgage payments, utilities, and daily living costs during recovery. Choose a policy with a waiting period and benefit period that aligns with your financial needs and employment benefits. #DisabilityInsurance #IncomeProtection #AskBrennon #Brennonmwilson

It is great getting emails from carrier reps. The simplest check in or even mass email can be eye catching. Today I received on from Michael Prothe from Standard. If you do not think Disability Income is important to clients or family members, in 2023 as Standard supported approximately 121,000 Individual Disability Insurance policyowners and over 2,200 IDI claimants with over $150 million of claims paid. That $150 million is just one company paid out in claims. Think about how much claims have been paid out by the other traditional carriers and Lloyd’s syndicates in 2023. Think about how many families financial stability have been saved because they had disability coverage. Protect your family's financial security in 2024! #NewYear #FinancialWellness #DisabilityInsurance #insurance #incomeprotection

Prepare for the unexpected with disability insurance to safeguard your income. Disability insurance replaces a portion of your income if you become unable to work due to illness or injury. It provides financial stability by covering essential expenses like mortgage payments, utilities, and daily living costs during recovery. Choose a policy with a waiting period and benefit period that aligns with your financial needs and employment benefits. #DisabilityInsurance #IncomeProtection #AskBrennon #Brennonmwilson

Disability and illness can happen to anyone, yet only 12.4 million Canadians have disability insurance, and only 2.4 million have critical illness insurance. Nobody wants to spend more money on insurance, but imagine that you’re unable to work for several months. How long would you be able to cover your bills and your rent or mortgage payments? Disability insurance and critical illness insurance can fill a critical gap in your or your family’s finances. While you hope you’ll never need to make a claim, having these policies in place provides much-needed financial support and peace of mind. Contact our office today to get the conversation started. #DisabilityInsurance #CriticalIllnessInsurance #FinancialSecurity #InsuranceCoverage #IncomeProtection #FinancialPlanning #InsuranceAdvisor #protectyourfamily

It's Disability Insurance Awareness Month - here's an Income Protection Tip! When I get asked to quote Income Protection coverage, most of the time I'm asked to quote "Max benefits". While we definitely want to get the client as much coverage as we can, often it's helpful to start the conversation by covering their MUG: Mortgage, Utilities and Groceries. Starting there does a few things. First off, you're getting your client to think of a disability in terms of real dollars, not hypotheticals. Secondly, usually those three expenses are less than the maximum monthly benefit a client qualifies for, which will reduce the premium and potentially bring the policy more in line with the client's budget. Lastly, just because you're starting with the MUG monthly benefit doesn't mean the client can't or won't ask to increase it - "can I cover my car payment too?" is a pretty natural segue! #TBSDI #disabilityinsurance #DIAM

Did you know? Nearly 50% of adults say that if disabled, they couldn't cover an unexpected $400 bill without taking out a loan or selling personal property. Let's raise awareness this Disability Insurance Awareness Month about the importance of having financial protection in place. Disability insurance can provide peace of mind and financial stability when you need it most. #DisabilityInsurance #ProtectYourFinances #DIAM