Image by rawpixel from Pixabay Source: Image by rawpixel from Pixabay Get ready for this—the life insurance industry is planning to target all of us. I’ve just been looking at a new study from the insurance research firm Conning, which says pressures are weighing on the life insurance industry to innovate and use technology for such purposes as mining customer data. Soon you might be receiving a sales pitch about some new kind of policy designed with you in mind. The study, titled "InsurTech and Other Innovation Drivers: Life Insurance Starts to Catch Up," started me thinking about all the conversations I’ve had with clients that have revolved around who needs life insurance and when. Now, with policies becoming ever more precise, it’s especially important to understand when you need it and when you don’t. No doubt you’ve heard the argument that the main purpose of life insurance is to replace your earnings, so that if you should … [Read more...] about Life Insurance After Your Kids Are Grown
Term 4 life
UA Flight 175 hits WTC south tower on 9/11. Source: Wikimedia Commons “To swim against the current of human intuition is a difficult task. . . . the human mind is built to identify for each event a definite cause and can therefore have a hard time accepting the influence of unrelated or random factors. . . . Random processes are fundamental in nature and are ubiquitous in our everyday lives, yet most people do not understand them or think much about them.” —Leonard Mlodinow, “The Drunkard’s Walk: How Randomness Rules Our Lives.”1 Elise O'Kane, a flight attendant with United Airlines had wanted to work her usual trip from Boston to Los Angeles in September 2001.2 But when signing up for flights in August for September, she accidentally entered an incorrect code into the airline's computer system and was assigned to the wrong schedule. She managed to swap flights with other attendants for all her trips, except Flight 175 on September 11th. She … [Read more...] about Can You Accept the Fact That Life is Fundamentally Random?
China removed presidential term limits from its constitution on Sunday, giving President Xi Jinping the right to remain in office indefinitely, and confirming his status as the country's most powerful leader since Mao Zedong died more than 40 years ago. China's ruling Communist Party announced the proposed amendment only last month and there was never any doubt it would pass as parliament is packed with loyal party members who would not have opposed the proposal. The amendments also include inserting Xi's political theory into the constitution, something that was already added to the party charter in October at the end of a party congress, a feat no other leader since Mao had managed while in office. Additionally, clauses were included to give a legal framework to a new super anti-corruption department. Only two "no" votes were cast, with three abstentions, from almost 3,000 delegates. Reporters were briefly ushered from the main hall in the Great Hall of the People as delegates filled … [Read more...] about China’s Xi Xinping Free to Remain President for Life, After Communist Party Abolishes Term Limits
President Donald Trump announced Saturday that China's President Xi Jinping got him thinking about introducing the death penalty for drug dealers. "We catch a drug dealer, death penalty. That's it," Trump told the crowd. At a Pennsylvania rally for U.S. House candidate Rick Saccone—who is expected to lose to Democrat Conor Lamb—Trump hailed Asian countries such as China and Singapore for meting out the death penalty to drugs dealers. He told the crowd, "It's a discussion we have to start thinking about. I don't know if this country's ready for it." "Do you think the drug dealers who kill thousands of people during their lifetime, do you think they care who's on a blue-ribbon committee?" Trump asked. "The only way to solve the drug problem is through toughness. When you catch a drug dealer, you've got to put him away for a long time." Trump recently came out in support of executing drug dealers, suggesting that the punishment could help tackle the opioid crisis. More than … [Read more...] about Trump Calls for Drug Dealers to Be Executed—and Cites China’s ‘President for Life’ Xi as Inspiration
China's ruling Communist Party on Sunday set the stage for President Xi Jinping to stay in office indefinitely, with a proposal to remove a constitutional clause limiting presidential service to just two terms in office. Since taking office more than five years ago, Xi has overseen a radical shake-up of the party, including taking down top leaders once thought untouchable as part of his popular war on deep-rooted corruption. Sunday's announcement, carried by state news agency Xinhua, gave few details. It said the proposal had been made by the party's Central Committee, the largest of its elite ruling bodies. The proposal also covers the vice president position. Xi, 64, is currently required by China's constitution to step down as president after two five-year terms. Nearing the end of his first term, he will be formally elected to a second at the annual meeting of China's largely rubber-stamp parliament opening on March 5. There is no limit on his tenure as the party and military … [Read more...] about China’s Xi Jinping Could be President for Life Under New Communist Party Proposal