Insurance Headlines

Bajaj Allianz launch Online Term Insurance iSecure

Rajesh Singla

  Bajaj Alliaz has joined the bandwagon of other private insurance companies by bringing online term insurance. Bajaj Allianz has ...

Jeevan anand Vs Public Provident Fund Vs Employee Provident Fund

Rajesh Singla

  Do you own Jeevan anand policy? Do you know the returns and maturity amount of your Endowment Jeevan anand ...

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IRDA launches new website for customers

Rajesh Singla

In a bid to better educate buyers about insurance, the Insurance Regulatory and Development Authority (IRDA) has launched a Website ...

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Fixed Annuities: The Key to a Carefree Retirement Life

Jonathan

Financial stability is something that we all crave for. As long as we have a job, we are secure. But, ...

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Annuity Rates that Guarantees Maximum Return

Jonathan

People invest in annuity plans to secure their retirement life. The various annuity schemes project a firm platform to build ...

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How is Apollo Munich Optima Restore Health Insurance policy?

Rajesh Singla

Apollo Munich has introduced a new insurance policy - Apollo Munich Optima Restore , first of its kind, unique Restore benefit that automatically reinstates the basic sum insured in case you exhaust it in a policy year. Will you buy this health Insurance policy?

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LIC comes with a new Guarateed Insurance Plan – Jeevan Vriddhi

Rajesh Singla

LIC has launched a new Guaranteed Insurance Plan - Jeevan Vriddhi, showing why it is ahead of the other market insurance players. In the time when most people are looking for single shot option of saving their tax under 80C, Jeevan Vriddhi is a case for demolish the believe that insurance is only meant for buying coverage against uncertainties. Will you Buy it?

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Bharti AXA comes up with cheapest Term Insurance plan

Rajesh Singla

In the race to find the customers, Bharti AXA has revised their premium rates for Term insurance plans like HDFC. Bharti AXA Life iProtect is now the cheapest online term life insurance plan.

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LIC comes with a new policy – Jeevan Ankur

Rajesh Singla

LIC Jeevan Ankur Plan is a Traditional Plan with profits. This is a child benefit Endowment Plan where the parent is the Life Insured and the child is the nominee.Should you buy Jeevan Ankur? Let us find out.

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HDFC enters online Term Insurance Model with Click2Protect

Rajesh Singla

HDFC Life Click2Protect will offer the same customer a premium of only Rs5,000 for same coverage of 50 Lac which it is used to offer them earlier with 12,000 Rs in offline mode. The customer will feel dejected but then be lured to give up the existing expensive policy and buy the new cheaper one. Unlike the Term Assurance plan which offers optional riders of accidental death and accidental disability, Click2Protect does not come with any riders.

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Why you should never ask your bank manager for investments?

Rajesh Singla

What are the best mutual funds to invest in? There are various easy ways of finding this out. But one of the worst ways is asking your bank relationship manager. Clearly, for each bank, the best mutual schemes are none other than the schemes belonging to their own group or the ones that offers the maximum commission.

How to get rid of paying premium to your low paying Money back Policy?

Rajesh Singla

Are you tired of paying premium in your money back policy? Do you think you have been tricked by agent while purchasing the policy & now you are struck as surrender value doesn’t pay anything before 3/5 years of policy? There are 2 options available. Either to surrender the policy or Making the policy paid up. Now the question arise which option to choose – Which is a better choice? Surrendering the Policy or making it paid up policy.

Get LIC Policy Details on Phone now

Rajesh Singla

Do you know when is next date for you to pay the premium of your policy? Do you know how much bonus amount you have got so far? Are you not clear on your policy terms?

ULIPS gets min. return assured of Saving Bank Account

Rajesh Singla

Those who bought Ulips and let them lapse will now get more time to revive their policies and earn better returns for the discontinued period. New rules allow insurers to review policies which would otherwise have been cancelled but require them to pay more to the insured. Insurers are also required to ensure that they provide a minimum return equivalent to the savings deposit of State Bank of India which is currently 4%. This is the return that the policy has to receive after the insurance company deducts its fund management charge. Informing life insurers of the new norms, IRDA said that policyholder will have the right to revive discontinued policies within two years from the date of discontinuance and not later than the expiry of lock-in period. The new norms on discontinued policies are effective next month. In case of policy revival request from policy holder within 2 years, the discontinuation charges levied will be duly adjusted to the fund value of the policy holder. Unit allotment would be on the basis of NAV of the units as on the date of such revival. IRDA's move comes at a time when the life insurance industry is struggling with sales of new policies in the wake of new guidelines in September 2010 that capped distribution costs. Although numbers on discontinued policies are not available, insurers say that it would run into thousands of crores considering that over 20% of policies lapse for life companies. IRDA's move comes at a time when the life insurance industry is struggling with sales of new policies in the wake of new guidelines in September 2010 that capped distribution costs. "Many representations have been made by insurers to allow a higher revival period to enable the policyholder to revive at a later stage and requests were also made to allow the insurer to levy fund management charge for managing the discontinued linked fund," the IRDA said in a circular. Is this move by IRDA will help the revive the ULIP Market? A guarantee of Saving Bank account is as good as none. IRDA needs to understand the reason why the ULIP as a product is not appealing to Investors(due to high cost structure) & Distributors(due to decreased brokerage incentive) anymore & solid point of action needs to be taken to help revive the ULIP Market.

Shocker: Max. Lapse in Insurance is for Term Insurance policies

Rajesh Singla

The lapsing of term insurance products tends to be the highest. This comes as a shocker which signifies how much strength the agents holds on their clients rather than financial advisors who constantly advocates for term insurance policies. One reason for this is policyholders’ feeling that they no longer need death protection. Over 20% of life insurance policies lapse after payment of the first year of premium. A recent study by IRDA (the Insurance Regulatory and Development Authority) categorizes some of the reasons for insurance policy lapsation. It is helpful to understand these reasons and avoid lapsation—unless there is a genuine reason to do so.

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