PERSONAL FINANCE


Moneylife Digital Team 20 January 2011
The plan has options for life cover that range between 1.25 and 5 times the premium Single-premium ULIPs are in fashion nowadays, because of their convenience. Also, it's easier for insurance companies to sell these plans compared with selling the regular ULIPs. But the life insurance coverage...

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The investment methodology is debatable; returns will be average due to shift from equity to debt  SBI Life has introduced 'Smart Horizon' ULIP with stated objective of providing long-term capital appreciation. "The unique automatic asset allocation (AAA) feature makes Smart Horizon ideal for...

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This new policy is not quite different from the old schemes we saw before 1st September ULIPs for children have long played on the anxiety of parents to ensure financial security for their kids in their absence. Now, Aegon Religare Life Insurance has launched 'Rising Star Plan'. Like most...

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Moneylife Digital Team 18 January 2011
Dhanlaxmi Bank has launched Dhanlaxmi Bank Gift Card. The product is a rupee denominated, pre-paid, non-reloadable card. It can be used at any of the over 4,50,000 Visa enabled merchant outlets across the country that possess a point of sale terminal (PoS). Anand Gupta, head, alternate...

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Moneylife Digital Team 13 January 2011
A hefty increase of 500% in mediclaim premium led to a low renewal ratio for Reliance General. It is believed that the company approached IRDA for reducing the premium Reliance HealthWise policyholders don't seem to be in a mood to pay a hefty 500% premium increase even if it means losing a...

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Moneylife Digital Team 13 January 2011
SBI Life has launched a low-premium traditional plan, called Saral Life. Yearly premium starts from Rs4,000 and no medical test is needed. As with other traditional plans, this too would offer low returns and low cover. SBI Life has also launched a unit-linked insurance plan (ULIP) for children...

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Moneylife Digital Team 13 January 2011
Protection Fund: Insurance Regulatory and Development Authority (IRDA) plans to set up an investor safeguard fund to protect the interests of policyholders and spread awareness about insurance. IRDA will advertise and hold conferences. The initial corpus would be around Rs100 crore. Unclaimed...

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Moneylife Digital Team 13 January 2011
Bajaj Allianz has introduced a unique range of products under the name of Ability Insurance for the specially-abled. Ability Insurance treats the physically-challenged on par with others and, thus, enables them to protect themselves and their families financially. There are no extra loading...

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In 2010, regulatory action helped insurance customers a bit. First came the spat between Insurance Regulatory and Development Authority (IRDA) and Securities and Exchange Board of India (SEBI) over who should regulate unit-linked insurance plans (ULIPs). SEBI considered it as an investment...

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After an adverse loss ratio from group insurance offered to Indian Overseas Bank customers, Universal Sompo is now focusing on individual mediclaim policies for Allahabad Bank customers Medical insurers laboring under big losses, mainly on account of the group insurance schemes they rushed into...

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Moneylife Digital Team 07 January 2011
Star Health launches a health policy that does not require medical screening, and allows migration to plans with renewal beyond the age of 69. Another for couples also clubs maternity benefits Star Health and Allied Insurance Company has launched two new products-a health policy with dual...

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After Jaslok Hospital, other hospitals are lining up to join the preferred provider network in a major breakthrough for insurers that will bring relief to mediclaim policyholders To the relief of the consumers, more and more hospitals are joining the Preferred Provider Network (PPN). Jaslok of...

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Comparison and aggregator sites on financial products offer information, plans, advice & transactions. Is it safe and smart to use them? You go to a website, search various options to buy financial plans, funds, insurance, loans, credit cards, bank products and corporate fixed deposits. You...

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Moneylife Digital Team 30 December 2010
The new name given to universal life plan (ULP) is variable insurance plan (VIP), but it should not get VIP treatment from investors as the returns will be as pathetic as those of other traditional products. VIPs will only be offered under non-unit-linked platform, implying that they will now be...

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Moneylife Digital Team 30 December 2010
If the insured live longer, insurance companies have less to pay by way of mortality charges. So, increasing longevity should lead to lower mortality charges. But many insurance companies have increased it probably because it is outside the purview of IRDA’s cost cap. It may be just another...

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Moneylife Digital Team 30 December 2010
A mediclaim policy only reimburses the expenditure incurred on the treatment of the illness at a hospital. There are several other expenses that are, typically, incurred which mediclaim policies do not reimburse. Expenses such as travel, attendant’s lodging, loss of income (for the patient...

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Moneylife Digital Team 30 December 2010
Bharti Axa Life Insurance has used this insight to promote its insurance package, with a promise that claims will be settled within 48 hours flat. The promise is only applicable for ULIPs and not for term insurance. The insurer will settle only the fund value of the plan and not the sum assured....

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Moneylife Digital Team 30 December 2010
HDFC Life has jumped on to the bandwagon of the popular single-premium ULIPs with its ProGrowth Maximiser. The single premium charges have not changed much since 1st September when the new IRDA guidelines became effective. ProGrowth Maximiser provides three investment options—highest NAV (net...

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Moneylife Digital Team 29 December 2010
The home owner's obligation to pay the loan is deferred until the owner/annuitant dies and then the home is either sold by the bank or the legal heirs reclaim the property by repaying the interest portion only, because the principal or amount equal to the purchase price will be returned by SUD...

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Moneylife Digital Team 28 December 2010
Mobile technology will make banking services accessible to very small habitations where setting up a branch is unfeasible, according to Dun & Bradstreet Business information provider Dun & Bradstreet (D&B) says it expects mobile technology to drive the next leg of banking sector growth, which...

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