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Buying life insurance typically happens at two distinct life stages:
n Parents with young children wisely buy a term life policy that will provide financial security for a growing family until the youngest kid is an adult.
n Households nearing retirement can buy a straightforward income annuity to cover basic living costs, beyond what Social Security will provide.
In both instances, the purchase involves entering into a long-term relationship with a life insurance company. Your term life policy might be for 20 years or more. If you buy an income annuity in your 60s with a lifetime benefit, payments could extend well into your 90s.
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Only 3.5% of deferred loans still in deferral: ABA
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New figures have revealed that almost 97 per cent of all deferred loans resumed repayments by the end of February.
The data from the Australian Banking Association (ABA) has shown that the total value of loans deferred has dropped from a peak of $245 billion in July 2020 to just over $10 billion in February 2021.
The ABA’s analysis of the Australian Prudential Regulation Authority’s (APRA) data on the latest loan deferral figures from the major banks has shown that as of 28 February, total outstanding deferrals make up 3.5 per cent of all loans that were deferred.
The East African
Monday March 15 2021
Kenya is considering tapping into the international capital markets with a fourth Eurobond issue to help pay off part of its debt obligations. PHOTO | FILE | NMG
Summary
This comes against a backdrop of weaker credit rating by global rating agencies pointing out that Kenyan tax payers will have to dig deep into their pockets to service the planned loan.
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Kenya’s National Treasury is considering tapping into the international capital markets with a fourth Eurobond issue in less than seven years to help pay off part of its debt obligations estimated at Ksh925 billion ($8.48 billion) in the next three months.