I-Life Secure Online Plan Launched By Aviva India

Mr. Rishi Piparaiya, Director – Marketing and Banassurance at Aviva India announced the launch of on-line life insurance plan i-life secure. This plan provides for guaranteed income for 15 years post death of the life insured. Adding to the above, he said that this plan ensures that the family of the deceased and their needs are protected, whether it is the child’s school fees, EMI for housing loan or protection of the family by way of regular income  . http://www.myallagents.com/ILife-Secure-Online-Plan-Launched-By-Aviva-India/details.html

http://www.myallagents.com/Tata-AIG-General-sees-13-growth-in-premium-in-FY14/details.html

Life insurance is supposed to protect income. If something untoward happens to the policyholder, the insurance policy provides money to replace his (or her) income. Therefore, an insurance company will sell you a large term cover only after checking your income profile and tax returns. Even financial planners say there is no need to buy insurance for a person who does not earn. But Vishwa Raja begs to differ.  http://www.myallagents.com/Insurance-policies-designed-for-women/details.html

Customer Forms Should Have Standard Font And Minimum Size 7 Says IRDA

 

Insurance Regulatory and Development Authority (IRDA) issued a draft circular on policy servicing forms. The two main stipulations that IRDA has focused on are - (1) Availability in Languages recognized under Constitution of India (2) Minimum Font Size of “Times New Roman 7” (1) Availability in Languages recognized under Constitution of India While the existing regulations specify that all print material, used in the pre-sales and sales process, shall be made available in multiple languages, there is no rule for making available all the forms used during the course of post-sale policy servicing such as; claims, loans, surrender, alterations, nominations, assignments, revivals etc. Therefore, IRDA has advised all the Insurers to make available all the policy servicing forms also in languages recognized under the Constitution of India.  ] http://www.myallagents.com/Customer-Forms-Should-Have-Standard-Font-And-Minimum-Size-7-Says-IRDA/details.html

Markets hoping for a strong & stable government

ET Now: IMF growth projections for India seem fairly upbeaten. Perhaps some would say that is what fueled the rally yesterday in the equity markets. 5.4% for FY14, 6.4% for FY15. What is your stance on these projections?Killol Pandya: I will not really be able to see so far into the future, especially in the context of elections. Our best hope is that we get a strong central government. From that perspective it does not really matter which party comes into power. Of course the markets appeared to be strongly siding with one of the two factions, but from the political sense a strong government at the centre will do us well. 

http://www.myallagents.com/Markets-hoping-for-a-strong-and-stable-government-Killol-Pandya-LIC-Nomura-Mutual-Fund/details.html 

Readers' Corner: Bhargav Dasgupta

You can port the policy from floater to individual plan for each of your family members, though a family floater has advantages such as being cost-effective, cover for entire family and so on. If you do wish to port to individual plans, you need to check with the specific insurance company regarding the sum insured for each member and other policy terms. Specifically, you need to know the minimum entry age allowed for your children to avail individual policies. If one/both of your children do not meet the minimum entry age criteria, you will need to continue with your existing family floater plan covering the child(ren), with at least one adult being the primary policy member. 
http://www.myallagents.com/Readers-Corner-Bhargav-Dasgupta/details.html 

Soon, share electronic medical record with insurers

Electronic Medical Record (EMR) which would enable healthcare providers to have a coded intergrated health care system has been a process mooted by the Ministry of Health and Family Welfare.

With EMR being in place, all medical records of customers will be available in an electronic format. However, sharing of this data with insurance companies could still be some time away. 
.http://www.myallagents.com/Soon-share-electronic-medical-record-with-insurers/details.html 

Q2 advance tax payout of top 100 companies sees muted growth

UMBAI: In line with macro environment, the advance tax collections from the top-100 corporates from the financial capital showed a muted growth for the September quarter, with the outgoes increasing by only up to 8 per cent, a senior official said today.
"For the top-100 companies, the advance tax payments have increased by 7-8 per cent," the official said.
Cumulatively for the first two quarters till now, the advance tax collections from the Mumbai zone, which contributes over a third of the income tax collections nationally, have grown 11 per cent, the official said. 
http://www.myallagents.com/Q2-advance-tax-payout-of-top-100-companies-sees-muted-growth/details.html

health insurance tips for students travelling abroad

Unless the university makes it mandatory for you to buy the health cover it provides, you can waive it, especially if you are already covered as a dependant or want to purchase it privately. You can pick one from a local insurer in the country you are travelling to, or an Indian insurance company before you leave. 

Many students club the premium with the tuition fee for convenience, but the university may not offer the best deal, and it is wise to compare. Despite the online channel, it's not easy to buy a plan from a foreign insurer. So start by surfing the domestic plans. For some universities like MIT and Stanford, the plan must comply with their guidelines. If the prepackaged plan doesn't match the requirements, insurers are ready to tweak it.  

http://www.myallagents.com/5-health-insurance-tips-for-students-travelling-abroad/details.html 

AXA Assistance, iJet foray into Indian risk management market

NEW DELHI: Risk management solutions provider AXA Assistance and iJet International have announced their foray into India and are aiming to provide solutions to about 10 domestic firms this year in sectors such as IT.  The two global companies are targeting Indian corporate houses which send employees abroad and hire expats.  "Our aim this year is to tie up with at least 10 such companies," AXA Assistance Director Pradeep Bery told a new agency.  Both the firms have partnered to deliver combined security and medical response solutions in India.  "We have come together to provide comprehensive, integrated security and medial response solutions to corporates, expatriates and even students going abroad for education," Bery said.  However, he did not disclose the revenue sharing mechanism between the firms.   http://www.myallagents.com/AXA-Assistance-iJet-foray-into-Indian-risk-management-market/details.html

One-for-all insurance policy offers no risk cover

How about ordering Bajaj AutoBSE 0.79 % dealers to sell motorcycles manufactured by TVS Motor and Hero MotoCorp so that consumers have a wider choice and more motorcycles are sold in the country? Sounds far-fetched? Something similar is cooking in financial services.    http://www.myallagents.com/Oneforall-insurance-policy-offers-no-risk-cover/details.html

Quations & Answers on Lic India

As name suggests this rider, waives payment of future premiums for a specific term, subject to certain conditions.

A Waiver of Premium rider opted along with a children’s plan ensures the policy stays in force to accumulate wealth for the child’s future, and earns returns or benefits on the investment made in the policy. So even in the event of any death or disability, your policy is taken care of. It works its way towards building a corpus for your child’s education or marriage, making it available at the time when it is actually required. Most children’s plans offered by insurance companies come with an inbuilt waiver of premium rider, if not they, could be individually opted for too. 

http://www.myallagents.com/Quations-and-Answers-on-Lic-India/details.html 

ICICI Prudential Launches ICare II Online Term Plan

ICICI Prudential, one of India’s biggest life insurance companies in the private sector launched iCare II as a sequel to its online term insurance plan.
In September 2011, ICICI Prudential had launched iCare which was India’s first no medical online term plan. And now they have come up with a better version of the plan by launching ICICI Pru iCare II with some improved features.
The first striking feature of the new iCare II is its pricing. Premiums are attractively lower and now competing within the top 5 low premium online term plans.  
http://www.myallagents.com/ICICI-Prudential-Launches-ICare-II-Online-Term-Plan/details.html 

IPL 2014 Seeking A 1100 Crore Insurance Cover

Indian Premier League (IPL), the Indian Professional league which has popularized T20 cricket – the shortest form of professional cricket is back with a bang. The Board of Control for Cricket in India (BCCI) which is the organizing body of the Indian Premier League (IPL) is planning for an insurance cover of Rs 1,100 crore for the 2014 tournament. IPL is the most-watched Twenty20 cricket league in the world. It is generally considered to be the highest-profile showcase in the world for Twenty20 club cricket. During the sixth IPL season (2013) its brand value was estimated to be around US$3.03 billion. IPL 4th season (2011) was insured for an amount of Rs.750 crore and the IPL-7 is all set to get bumper coverage.   http://www.myallagents.com/IPL-2014-Seeking-A-1100-Crore-Insurance-Cover/details.html