Insurers prepare for ‘supercentenarians’
By Patrick Lim  •  November 10, 2012
yes, british insurers are taking cognizance of the fact that life expectancy is not static and will continue to add years, going forward by modelling pension products on the basis that people could live to the age of 120 or even 125 years. britain's oldest man, mr reg dean recently celebrated his 110th birthday on sunday. but it may not take long for mr dean to be overtaken by a new breed of what is termed as 'supercentenarians'. quoting the office for national statistics, data showed that the number of uk people aged 100 or more has increased 5 fold from 2,500 in 1980 to 12,640 in 2010 and projections suggest that the number of centenarians will exceed 160,000 by mid-2040. at a conference, mr otto thorensen, director general of the association of british insurers said: "With men and women living on average 30 years longer than they did 100 years ago, by 2100, people living to over 100 years old will be the norm." my comments: with increasing life expectancy, just ponder the challenges facing insurers worldwide (including singapore) on pricing products. Read the full article →
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By Patrick Lim
Patrick is an Associate Director with Promiseland. He has more than 20 years of personal investment experience both in stock and shares and unit trusts. In his early years as an investor, he got burnt really bad in the infamous 1987 crash and again during the clob incident. With 2 decades of so-called battle scars behind him, the last few years (since 2003) have been good to him especially with his single country funds doing exceptionally well. On his investing style, he is both a technical analyst and fundamentalist. Patrick view wealth accumulation as part and parcel of the wealth management process but only if one has already executed his/her wealth protection planning on an on-going basis.

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