Commenting on the campaign launch, Chandramohan Mehra, Chief Marketing Officer, Bajaj Allianz Life, said, “Simplifying by de-jargonizing is one of the potent solutions to overcome the perceived complexity coupled with high customer inertia, a key challenge faced by the insurance industry.  Lack of knowledge has been one of the key barriers resulting in India’s high protection gap at 87%.  Our underinsurance educational initiative equips customers with the right advice to make sound decisions, keeping in mind the long-term protection needs of the family.  Anchored on a thumb rule of 10x, we are confident that the initiative will aid easy comprehension and induce appropriate actionability.”

Through a series of captivating films, Bajaj Allianz Life highlights the importance of the 10X life cover guideline.

To maximize its impact, Bajaj Allianz Life has launched a 360-degree marketing campaign, spanning television, print, outdoor, digital, and extensive use of fininfluencers. The message will be amplified through social media outreach as well. As the nation gears up for the T20 World Cup, Bajaj Allianz Life’s campaign will be showcased there, driving home the importance of adequate insurance coverage.

Video Link – https://youtu.be/Gj-d5-gV7Ho

The post The New Thumb Rule Of ‘10X’ For Term Insurance: Bajaj Allianz Life Insurance Unveils New Campaign appeared first on NRI News.

Currently, when a financial adviser provides retirement advice, they may be paid by the saver or by the firm that makes the investment product they recommend. However, when a firm pays a retirement adviser more to recommend a specific investment product, that creates a conflict of interest that often leads to Americans selecting an investment product recommended to them that generates lower returns. These conflicts of interest can result in advisers receiving a commission as high as 6.5 percent to recommend some insurance products, which can cost savers as much as $5 billion per year.

The proposed rule would close loopholes and require that financial advisers provide retirement advice in the best interest of the saver, regardless of whether they are recommending a security or insurance product and where they are giving advice. It would cover advice to purchase any investment product, roll assets out of an employer-sponsored plan, and plan sponsors about which investments to make available as options in 401(k)s and other employer-sponsored plans.

Requiring advisers to make recommendations in the savers’ best interest can increase retirement savers’ returns by between 0.2% and 1.20% per year, potentially adding up to 20% more retirement savings over a lifetime. This step would minimize junk fees in retirement products, promote competition, and protect American workers’ retirements.

The proposed rule builds on the Biden-Harris Administration’s efforts to eliminate junk fees, putting cash back in the pockets of Americans. It also builds on important actions the Administration has taken to protect the retirement of hardworking Americans, including the SECURE 2.0 law and the Butch-Lewis Emergency Pension Plan Relief Act.

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The Commission’s approval of the rule modification ensures that the Authority’s rules are consistent with the Horseracing Integrity and Safety Act and the FTC’s procedural rules governing the submission process. The Commission’s vote to publish the Authority’s proposed 2023 budget in the Federal Register for public comment is also in accordance with the FTC’s rule regarding oversight of the Authority’s budget process. The public will have 14 days from the date of publication to submit comments, after which the Commission will approve or disapprove the proposed budget.

The Commission’s votes to approve the rule modification and publish the proposed budget were unanimous, with a 3-0 vote. The Commission’s actions demonstrate its commitment to promoting competition, protecting consumers, and educating the public on consumer topics. Consumers can learn more about consumer topics and report scams, fraud, and bad business practices online at ReportFraud.ftc.gov.

The Federal Trade Commission’s approval of the Horseracing Integrity and Safety Authority’s proposed modifications to its enforcement rule and publication of its proposed 2023 budget for public comment are significant steps toward ensuring the safety and integrity of horseracing in the United States. The Commission’s actions demonstrate its commitment to promoting competition, protecting consumers, and educating the public on consumer topics.

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