Series 79, also known as the Investment Banking Representative Exam, is a Representative-Level exam administered by FINRA. Anyone who passes the Series 79 exam is qualified to advise on and/or facilitate debt and equity offerings, mergers and acquisitions, tender offers, financial restructurings, asset sales, divestitures (or other corporate reorganizations), and business combination transactions.

We scored companies based on these measurements:

Price (50% of score): We averaged the no-exam life insurance rates for males and females in excellent health at ages 30, 40 and 50 for $500,000 and $1 million and a term length of 20 years.

Maximum face amount for lowest eligible age (10% of score): Companies with higher no-exam life insurance coverage amounts for the lowest age earned more points. Note that maximum no-exam coverage can sometimes become lower if you apply at a higher age.

Age eligible for best length/amount (10% of score): Companies offering no-exam life insurance to folks over age 50 earned extra points.

Accelerated death benefit available (10% of score): This important feature lets you access part of your own death benefit in the event you develop a terminal illness

Option to convert to a permanent life insurance policy (10% of score): This is a good option to have in place if you decide you want a longer policy, especially if your health has declined and you don’t want to shop for new life insurance.

Guaranteed renewals (5% of score): This option lets you extend the coverage after your initial level term period has expired, such as at the end of 10, 20 or 30 years.

Renewal rates can be significantly higher, but renewing can provide extended coverage to someone who may no longer qualify for a new life insurance policy because of health.

Median time from application to approval (5% of score): We gave more points to companies with lower no-exam life insurance approval times.

The timeline for approval could be within seconds or a month, depending on the company and possibly even your health.

Sources: Bestow, Ethos, Fabric, Haven Life, Jenny Life, Ladder, Policygenius and Forbes Advisor research.

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Life insurance is considered to be a vital part of financial planning for millions of adults. But for seniors, the benefits are not always clear. The cost of getting a policy relative to the coverage that can be secured can be inconsistent.

But that doesn't always mean life insurance for seniors isn't worth it. This particular financial protection can be beneficial in multiple ways - from covering end-of-life expenses to serving as an inheritance to loved ones and more. To get the most out of a policy, seniors should do their homework to discover the most valuable and cost-effective type.

Enter no-exam life insurance. This type of insurance can be secured more easily than other common life insurance types - and it doesn't need to be expensive either. There are multiple advantages to no-exam life insurance for seniors that we will explore below.

If you're considering life insurance then start by getting a free price quote now.

Why seniors should buy no-exam life insurance

Here are three reasons why seniors should buy no-exam life insurance now.

They don't need to take an exam

The best reason for seniors to purchase this type of life insurance is obvious: They don't need to take a medical exam to secure a policy. While the absence of a medical examination is beneficial on multiple fronts, it's especially helpful for older adults. That's because life insurance medical exams are thorough, testing blood, urine, blood pressure and more. You'll need to answer a questionnaire online and sit for the exam with a medical professional. This vetting could reveal problematic health issues that could result in limited coverage and higher costs. Depending on the results of the exam, seniors could even risk having their application rejected altogether.

But with no exam, all of these concerns are removed from the equation, leaving the applicant one big step closer to securing a policy.

Get a free price estimate online now to see what it could cost.

They can get approved quickly

It can take days - if not weeks - to schedule a medical exam at a time and place that's convenient for both you and the insurance provider. The results of that exam then need to go back to the provider for closer inspection, at which point they will either approve you for the coverage you applied for or counter with an amount they feel comfortable with. They may also turn down your application in full. All of this takes time and, depending on the ultimate result, could leave you back at square one.

But with no medical exam, you'll significantly expedite the approval process. Some providers will approve you within days while others may sign off on an application the same day it was submitted.

Nobody likes to waste their time. For seniors, especially those enjoying their retirement, an arduous and lengthy process can be discouraging. Fortunately, they can hasten the life insurance application by choosing a no-exam policy.

They have options to choose from

No-exam life insurance isn't tied to one specific type of life insurance. Whole life insurance, for example, has an attractive cash reserve that can potentially be used by the policyholder while they're alive. It also lasts for the duration of the insured's lifetime. Term life insurance lasts only for specific timeframes before expiring. It's also generally cheaper than whole life insurance policies.

You can get a no-exam policy with either type of insurance. If you prefer whole life insurance you can apply for it minus a medical exam. You can do the same for term life insurance policies if you think that's the better fit. No-exam life insurance policies won't limit you to a specific type, giving you more freedom and options to choose from.

The bottom line

Life insurance can be helpful to have for adults of all ages - even seniors. But for older adults to get the most value from a plan they need to choose the right type. No-exam life insurance, in particular, with its lack of a medical exam and expedited process, is an insurance worth pursuing. It can be tied to either a whole or term life insurance policy, too, giving seniors the flexibility to secure the best policy for their needs. 

Start by getting a free price quote online today.

Life insurance can be valuable for millions of American adults. How valuable a policy is, however, is specific both to the individual and the type of life insurance under discussion.

Term life insurance is generally favorable for those who want the security and protection a policy can provide without having to break the bank to get it. Since these policies only last for a select time frame (hence the name) they tend to be less expensive than their more robust counterparts.

Whole life insurance, meanwhile, lasts for the duration of the policyholder's life. And it comes with an attractive cash reserve that can be used to pay down debt or other expenses while the insured is still alive. But they tend to be pricier than other policies on the market.

While the benefits of these two types of policies are clear, there are other types on the market that may also be advantageous to have. No-exam life insurance can be great for a variety of prospective policyholders. But how do you know if it's worth it for you? That's what we will explore below. 

If you're currently in the market for life insurance then start by getting a free price quote so you know exactly what to expect.

Is no-exam life insurance worth it?

No-exam life insurance is exactly what its name implies: No medical exam is required to secure approval. But is it right for everyone? Here are three groups that could find this insurance valuable.

Seniors

Because this type of life insurance doesn't test for any medical issues, it can be a preferred option for many seniors and older adults. A medical exam, after all, tests blood, urine, blood pressure and more - all elements that could be below standard for seniors. When using these results for a traditional life insurance policy applicants could have their coverage severely limited (assuming they're approved at all).

By skipping the exam, you won't have to worry about getting approved. Whichever nagging health issues or pre-existing conditions you have will stay under wraps, allowing you to secure the life insurance that you and your beneficiaries need.

Get a free price estimate now so you know exactly what a policy would cost.

Young people

If you're young and healthy and want to make the life insurance application process as short as possible then no-exam life insurance could be beneficial for you. Because no medical exam is required for this type of coverage you could end up getting approved within days (if not within hours) after applying. 

Younger applicants will generally be offered more favorable rates and terms than older applicants, offsetting the typically higher cost connected to no-exam life insurance. It also has the benefit of providing immediate protection while you focus on other things. And because you're young, you can afford to wait to take a medical exam and go through a thorough vetting at a later date. 

Smokers and those with pre-existing conditions

If you're a smoker or were for a significant period of time, a life insurance provider could charge you significantly more. Similarly, if you're suffering from pre-existing medical conditions, with little chance of recovery, a life insurance provider would bill you more and/or limit the coverage provided.

By applying for a no-exam policy, you boost your chances of getting approved. And since no-exam policies can be offered with both whole and term life insurance types, you still may be able to secure the type of coverage you wanted.

Just note that each life insurance provider has different requirements so make sure to do your homework first. Start by getting a free price quote now or use the table below to review some top providers on the market.

The bottom line

No-exam life insurance can be a quick and painless way to secure financial protection for you and your loved ones. 

It can benefit a wide swath of applicants, particularly younger people who want the security a life insurance policy can provide without the hassle of going through the traditional application process. Seniors with existing medical concerns that otherwise may disqualify them from a policy would also benefit from this insurance type as would smokers and those with pre-existing medical conditions. 

A study reveals a previously unknown way in which cannabidiol (CBD), a substance found in cannabis, reduces seizures in many treatment-resistant forms of pediatric epilepsy.

Led by researchers at NYU Grossman School of Medicine, the new study found that CBD blocked signals carried by a molecule called lysophosphatidylinositol (LPI). Found in brain cells called neurons, LPI is thought to amplify nerve signals as part of normal function, but can be hijacked by disease to promote seizures.

Published online February 13 in Neuron, the work confirmed a previous finding that CBD blocks the ability of LPI to amplify nerve signals in a brain region called the hippocampus. The current findings argue for the first time that LPI also weakens signals that counter seizures, further explaining the value of CBD treatment.

"Our results deepen the field's understanding of a central seizure-inducing mechanism, with many implications for the pursuit of new treatment approaches," said corresponding author Richard W. Tsien, chair of the Department of Physiology and Neuroscience at NYU Langone Health.

"The study also clarified, not just how CBD counters seizures, but more broadly how circuits are balanced in the brain," added Tsien. "Related imbalances are present in autism and schizophrenia, so the paper may have a broader impact."

The study results build on how each neuron "fires" to send an electrical pulse down an extension of itself until it reaches a synapse, the gap that connects it to the next cell in a neuronal pathway. When it reaches the cell's end before the synapse, the pulse triggers the release of compounds called neurotransmitters that float across the gap to affect the next cell in line. Upon crossing, such signals either encourage the cell to fire (excitation), or apply the brakes on firing (inhibition). Balance between the two are essential to brain function; too much excitation promotes seizures.

The new study looked at several rodent models to explore mechanisms behind seizures, often by measuring information-carrying electrical current flows with fine-tipped electrodes. Other experiments looked at the effect of LPI by genetically removing its main signaling partner, or by measuring the release of LPI following seizures.

The tests confirmed past findings that LPI influences nerve signals by binding to a protein called G-coupled receptor 55 (GPR55), on neuron cell surfaces. This LPI-GPR55 presynaptic interaction was found to cause the release of calcium ions within the cell, which encouraged cells to release glutamate, the main excitatory neurotransmitter. Further, when LPI activated GPR55 on the other side of the synapse, it weakened inhibition, by decreasing the supply and proper arrangement of proteins necessary for inhibition. Collectively, this creates a "dangerous" two-pronged mechanism to increase excitability, say the authors.

The research team found that either genetically engineering mice to lack GPR55, or treating mice with plant-derived CBD prior to seizure-inducing stimuli, blocked LPI-mediated effects on both excitatory and inhibitory synaptic transmission. While prior studies had implicated GPR55 as a seizure-reducing target of CBD, the current work provided a more detailed, proposed mechanism of action.

The authors propose that CBD blocks a "positive feedback loop" in which seizures increase LPI-GPR55 signaling, which likely encourages more seizures, which in turn increases levels of both LPI and GPR55. The proposed vicious cycle provides one process that could explain repeated epileptic seizures, although future studies are needed to confirm this.

Further, the current study examined the plant-based cannabinoid CBD, but the authors note that LPI is part of signaling network that includes "endocannabinoids" like 2-Arachidonoylglycerol (2-AG) that occur naturally in human tissues. LPI and 2-AG target receptors also regulated by CBD, but have different actions at the synapse. While LPI amplifies incoming electrical signals, endocannabinoids like 2-AG respond to increases in brain activity by dialing down the release of neurotransmitters from nerve cells. Interestingly, LPI and 2-AG can be converted into each other through actions of enzymes.

"Theoretically, the brain could control activity by toggling between pro-excitatory LPI and the restorative actions of 2-AG," said first study author Evan Rosenberg, Ph.D., a post-doctoral scholar in the Tsein's lab. "Drug designers could inhibit the enzymes that underpin LPI production or promote its conversion to 2-AG, as an additional approach to control seizures. LPI could also serve as a biomarker of seizures or predictor of clinical responsiveness to CBD, providing an area of future research."

KUALA LUMPUR: LPI Capital Bhd said it will remain focused on business growth to offset an expected compression in margins following the implementation of Phase 2A of the market liberalisation plan.

Presenting its outlook for 2023, the insurer said it remains confident of its ability to adapt and innovate despite the insurance industry facing rising claims and reinsurance costs.

It noted also the global political and economic uncertainties and rapidly changing operating models.

"The LPI Group’s prudent underwriting approach and diversified business development channels will facilitate it to weather the numerous challenges in FY2023," it added in a statement.

In the fourth quarter of FY22 ended Dec 31, 2022, LPI said net profit was RM83.57mil, 14.47% improved from RM73.07mil in the previous corresponding quarter.

This came on the back of revenue of RM433.17mil in 4QFY22, up from RM429.04mil in 4QFY21.

According to the group, the improved quarterly performance was mainly contributed by an increase in investment income and a lower provision for fair value losses on investment.

For the full year, LPI's net profit came to RM276.61mil, down from RM344.68mil a year earlier.

The company's earnings per share dropped to 69.43 sen FY22 as compared with 86.52 sen in FY21.

The company reported revenue of RM1.66bil for the year under review, 3.5% lower from RM1.72bil in FY21.

The group announced a second interim dividend of 35 sen per share amounting to RM139.4mil despite the lower profitability in FY22.

This brings LPI's total dividend payout in FY22 to 60 sen a share or RM239mil, representing 86.4% of the group's net profit attributable to shareholders.

"In FY2022, the group’s performance was affected by significant changes to the operating environment as the domestic economy reopened following two years of pandemic-related restrictions under the Movement Control Order (MCO).

"While the resumption of business and social activities catalysed a return to growth, it also gave rise to insurance claims returning to pre-pandemic level following a significant decline over the past two years," said LPI.

It said its wholly owned subsidiary Lonpac Insurance Bhd continued to see an increase in claims frequency and value with its claims incurred ratio deteriorating to 40.5% from 37.7% in the previous corresponding quarter.

"With management expense ratio at 18% and commission ratio at 7.6%, Lonpac’s combined ratio for the 4th quarter of FY22 rose to 66.1% against 62.8% reported in the previous corresponding Quarter.

"With the higher claims experience, the Underwriting Profit of Lonpac was 4.5% lower at RM91mil against RM95.3mil achieved in FY2021," said LPI.

To get a sense of who is truly in control of LPI Capital Bhd (KLSE:LPI), it is important to understand the ownership structure of the business. With 45% stake, private companies possess the maximum shares in the company. Put another way, the group faces the maximum upside potential (or downside risk).

Institutions, on the other hand, account for 28% of the company's stockholders. Generally speaking, as a company grows, institutions will increase their ownership. Conversely, insiders often decrease their ownership over time.

Let's take a closer look to see what the different types of shareholders can tell us about LPI Capital Bhd.

See our latest analysis for LPI Capital Bhd

What Does The Institutional Ownership Tell Us About LPI Capital Bhd?

Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.

We can see that LPI Capital Bhd does have institutional investors; and they hold a good portion of the company's stock. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of LPI Capital Bhd, (below). Of course, keep in mind that there are other factors to consider, too.

LPI Capital Bhd is not owned by hedge funds. Looking at our data, we can see that the largest shareholder is Consolidated Teh Holdings Sdn Berhad with 43% of shares outstanding. Public Mutual Berhad is the second largest shareholder owning 9.4% of common stock, and Sompo Asset Management Co.,Ltd. holds about 8.5% of the company stock.

Story continues

A more detailed study of the shareholder registry showed us that 2 of the top shareholders have a considerable amount of ownership in the company, via their 52% stake.

While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.

Insider Ownership Of LPI Capital Bhd

The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.

Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also deliver immense power to a small group within the company. This can be negative in some circumstances.

Shareholders would probably be interested to learn that insiders own shares in LPI Capital Bhd. It is a pretty big company, so it is generally a positive to see some potentially meaningful alignment. In this case, they own around RM182m worth of shares (at current prices). If you would like to explore the question of insider alignment, you can click here to see if insiders have been buying or selling.

General Public Ownership

The general public, who are usually individual investors, hold a 23% stake in LPI Capital Bhd. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run.

Private Company Ownership

It seems that Private Companies own 45%, of the LPI Capital Bhd stock. Private companies may be related parties. Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research.

Next Steps:

I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. Be aware that LPI Capital Bhd is showing 1 warning sign in our investment analysis , you should know about...

Ultimately the future is most important. You can access this free report on analyst forecasts for the company.

NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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