With reference to Kyle Fitzgerald's report Mass shootings in the US surpass 400 this year (July 24): gun violence is a contemporary global human rights issue. Anyone can be affected by firearm violence worldwide, but the rising trend of gun-related injuries in several US states continues to be alarming. The gun purchase rate reached its highest level in 2021 and 2022 and gun-related deaths are rising in the US with people of non-white descent often the targets. This not only has a lasting impact on victims and their families but also deteriorates the overall human rights situation in the country.
On August 6, at least three people were killed and two injured in a mass shooting in Washington. The city has now recorded more than 150 homicides so far this year, putting it on track for the largest number of killings in more than two decades. The killings come amid a stream of shootings that have left at least a dozen people dead in the first five days of August.
As of August 1, at least 25,198 people have died from gun violence in the US this year, according to the gun violence archive – which is an average of roughly 118 deaths each day. Of those who died, 879 were teenagers and 170 were children.
When it comes to promoting democracy and human rights across the globe, the US shows up faster than any other nation. But in not curbing gun violence, the same country displays utter negligence towards its multicultural society.
Erina Haque, Dhaka, Bangladesh
Modi's 90-minute speech covered a lot of ground
With regard to Taniya Dutta's article Modi says in Independence Day speech India has 'diversity and demography' to flourish (August 15): This was an interesting read. The Indian Prime Minister's lengthy speech on the country's 77th Independence Day was about many topics and he even briefly spoke on Manipur. He addressed the development in several fields. The progress in women’s empowerment, space technology and health among others is especially laudable and was good to hear.
K Ragavan, Bengaluru, India
The nuisance of noisy jet skis
I am writing to highlight the matter of jet skis in our neighbourhood. For years now, we have brought the matter to the attention of the coastguard. Thankfully, every now and then, they send patrols. But the second the patrollers leave, the noise makers return. Even with doors and windows closed, it is unbearably loud.
Bassem Itani, Al Muneera Island, Abu Dhabi
'Saand Ki Aankh'
Produced by: Reliance Entertainment with Chalk and Cheese Films
Director: Tushar Hiranandani
Cast: Taapsee Pannu, Bhumi Pednekar, Prakash Jha, Vineet Singh
Rating: 3.5/5 stars
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Key changes
Commission caps
For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:
• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term).
• On the protection component, there is a cap of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).
• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated.
• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.
• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.
Disclosure
Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.
“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”
Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.
Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.
“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.
Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.
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