Insurance
AEGON Religare Life launches 'Save Guard Insurance' term plan

AEGON Religare's save guard insurance plan offers a choice of two death benefit options, gives an option to add critical illness provision that covers nine illnesses and provides tax benefits

 
Mumbai: AEGON Religare Life Insurance (ARLI) on Tuesday launched a term plan - save guard insurance plan - that provides life cover and at the end of the policy term returns the entire premium paid, reports PTI.
 
"Our research showed that there are customers who are wary of buying a product where there is only a death benefit. Hence, we have launched this plan that gives back 100% of the premium paid at the end of the policy term," company's Chief Marketing Officer and Head (Talent) Yateesh Srivastava said.
 
The plan is just another step in offering a comprehensive suite of protection products, he said in a in statement.
 
The AEGON Religare Save Guard Insurance Plan comes with the option of an in-built accidental death benefit, wherein case of a death in an accident, an additional benefit equivalent to the sum assured is paid to the nominee.
 
The plan also offers a choice of two death benefit options, gives an option to add critical illness provision that covers nine illnesses and provides tax benefits as per applicable tax laws.
 
The minimum age of entry is 18 years and the maximum is 55 years, while the maximum age at maturity is 65, 70 or 75 years for a policy term of 10, 15 or 20 years, respectively.
 
The minimum sum assured is Rs2 lakh with minimum annual premium of Rs2,860. The policy offers terms of 10, 15 or 20 years.
 
The company is a joint venture among international life insurance, pension and investment company AEGON, global financial services group Religare and country's largest media house Bennett, Coleman & Co.
 

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Metros in India most preferred destinations of tourists: Report

While international tourists prefer to visit metro cities, Indians on the other hand prefer Bangkok and Singapore

 
Mumbai: Metro cities of India are the favourite destinations of international travellers visiting the country with New Delhi at the number one spot, followed by Mumbai and Bangalore, reports PTI quoting the latest Hotel Price Index (HPI) report.
 
"Metro cities dominate the top 10 favourite Indian destinations list amongst international travellers. The capital city of New Delhi bags the number one spot as the most popular Indian destination for overseas travellers, followed by Mumbai in second place and Bangalore comes in third on the list," the HPI report said.
 
Other popular metros include Chennai at fourth position, Hyderabad (eighth) and Kolkata (ninth).
 
Goa, the popular beach and party destination of the country, is fifth most favourite destination for foreigners, while Jaipur, popularly known as the 'Pink City', is at the sixth spot. Cochin, a city in Kerala, takes the 10th position on the list.
 
According to the report, South East Asian destinations are popular with Indian travellers going abroad.
 
The great value rates available in Bangkok make it the most preferred international destination amongst Indians, followed by Singapore, it said.
 
Other popular South East Asian destinations in the top 10 list included Pattaya, Hong Kong, Kuala Lumpur and Phuket on the sixth, seventh, ninth and 10th positions, respectively.
 
The other international destinations in the top 10 list include Dubai on the third spot, New York on the fourth, London on the fifth and Las Vegas on the eighth, the report added.
 

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Are consumer forums courts or commissions?

Retired judges or judicial officers who have been in the rut for decades cannot adjust themselves to the requirements of tribunals as experience in consumer courts has clearly and unequivocally shown

 
The Consumer Protection Act was enacted in 1986 to provide quick, efficacious and cheap justice to consumers across the country. A hierarchy of separate District Forums, State Commissions and National Commission was set up for the purpose. Pecuniary and territorial jurisdictions were also set up for helping consumers attain their goal of quick redressal of consumer complaints.
 
At the silver jubilee celebrations of enactment of the Consumer Protection Act in 2011, consumer activists across the country took stock of the role consumer courts had played in enhancing consumer power. The report was dismal. Consumer courts had backlogs which were comparable (and sometimes worse) than civil courts and consumers were faced with a barrage of technicalities in pursuing their complaints filed in forums, many of which seemed insurmountable with the limited resources at their disposal.
 
The rot started creeping into consumer forums with the entry of advocates into the proceedings. The Advocates Act mandates that lawyer has a “right of appearance” in all forums, tribunals, courts and quasi-judicial hearings. Advocates and adjournments appear to be the same and not even the opposite sides of a coin.
 
Consumer courts have also been bogged down by judges insisting on going through the entire rigmarole of “proving the case beyond reasonable doubt” even when the Consumer Protection Act specifically mandates that if the procedure laid down in the Act is followed, then the principles of “Natural Justice” need not be adhered to by the Forum/Commission—something unparalleled in Indian law/statutes.
 
 
Judges coming to the consumer courts bring with them the baggage of “judicial teachings” of lower courts wherein every new point is made in the form of an application, which the other side must respond to in writing and then adjudicated upon. This process itself entails at least three hearings, most of which are deliberately resorted by advocates to impress their clients, enhance their fees and generally harass the opposite side. The president of the Forum will usually turn a blind eye to these infringements of consumer rights through such proceedings, even though the Act and the Supreme Court have held that trials in Consumer Forums are summary in nature as they do not involve complicated points of law.
 
The insistence of format rather than form has proved a great hindrance to consumers coming to court in search of justice. When confronted with statements like “justice delayed is justice denied” the immediate counter is “justice hurried is justice buried”.  This does not take into consideration what the hapless consumer is supposed to do with a defective fridge or two-wheeler, if the consumer is given an order after two years and the order is appealed against and decided three years thereafter.
 
Surely, quasi-juridical forums were set up to cut technicalities and deliver prompt judgments and not to get bound in red tape? Can  a retired judge who has got into the habit of dotting the I’s and crossing the T’s all his life suddenly change to adapt to “common sense judgment” rather than  a long-winded dissertation of the merits of the case with legalities ruining the entire concept of Tribunals and Forums?
 
 
It is well-established that it is the presiding officer of a Forum or Tribunal who decides the pace and system of work in his Forum. No-nonsense presiding officers see 100% attendance in their Tribunals and no requests for adjournments on frivolous grounds because advocates know that such requests will be shot down unceremoniously at the outset itself. The need for dispensation of justice cannot be thwarted because an advocate has “matters in several courts and cannot attend to all of them at the same time”. Such an advocate should brief a colleague and/or send arguments in writing if he is interested in quick disposal of the case.
 
Retired judges or judicial officers who have been in the rut for decades on end cannot adjust themselves to the requirements of tribunals as experience in consumer courts has clearly and unequivocally shown. 
 
To read more articles on consumer interest, click here.
 

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COMMENTS

Vaibhav Dhoka

5 years ago

The actual fact is Justice system has become commodity like.In India you can BYE justice,there is price tag available for order to OBTAIN.May it be civil criminal,or any other forum.Therefore Supreme court wants its people adjusted after retirement to various forums.They can MINT money in the system.

Vaibhav Dhoka

5 years ago

AS I wrote yesterday judiciary wants to try every dispute with legal questioning which is meant for advocates and judgeson which they thrive.In fact if disputes are resolved without legal brain the settlement is from HEART.If it is decided by court it it is ruining all parties from all aspect Socially Economically and Mentally.There is absolutely no neseccity of legal acumen in consumer forums and RTI act.Lawyers should be engaged in State or National commission if need be.And our judicial system has maligned itself by EVER delayed justice and CORRUPT practice.They are behind destroying all forums tribunals etc.

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