PERSONAL FINANCE


Moneylife Digital Team 08 December 2011
Traditional endowment plan with annual income benefits Future Generali Secure Income plan is a traditional endowment plus money-back plan which can be made into a whole life plan. The ticket size begins with Rs10,000. The plan offers flexibility to choose the premium payment term (PPT) as...

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Moneylife Digital Team 08 December 2011
Monthly admin charge of 0.5% makes it expensive The product brochure of Bharti Axa Life Future Invest highlights zero allocation charges on the first page. It also mentions that the premium paid by the customer is invested in his chosen funds as allocation charges are NIL. Is it really...

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Mediclaim portability started in October 2011. While the response has been lukewarm, there are early trends that poaching of young and healthy customers will be the strategy. Who is winning on that score? As expected, despite newspaper advertisements from the Insurance Regulatory and...

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Moneylife Digital Team 02 December 2011
The safe and smart way to reduce your home loan burden The Reserve Bank of India (RBI) has hiked interest rates 12 times in the past 20 months effectively increasing the rates by 3.75 percentage points. This leaves no option for banks but to pass on the rate hike to customers. Home-loan...

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It is a strange choice considering that term life is the best insurance. The ULIP comparator can be expanded by IRDA to bring in more value. This is launched just after stringent guidelines for web aggregators which will drive them out of business The Insurance Regulatory and Development...

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LIC has been reprimanded for delay in settlement of death and maturity claims. Of course, the delays are very few considering the number of claims settled by the state-owned insurer The Insurance Regulatory and Development Authority (IRDA) conducted an inspection of records of Life Insurance...

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While the BCSBI has already laid down standards for the service quality, it has now to go a step further to standardise the systems and procedures that have a direct bearing on the customers to improve the quality of service by harnessing technology to the maximum extent  It goes to the credit...

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Max Bupa, Apollo Munich and Star Health and other standalone insurance companies may benefit from IRDA’s bancassurance exposure draft while bank-promoted insurance companies like ICICI Pru Life, ICICI Lombard, SBI Life and HDFC Life will be adversely impacted The bancassurance exposure draft...

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Moneylife Digital Team 24 November 2011
The standard variant of the Honda motorcycle is priced at Rs65,198 (ex-showroom, Delhi) Honda Motorcycle & Scooter India (HMSI) today launched a new variant of its 150 cc bike -- CB Unicorn Dazzler, priced up to Rs 66,198 (ex-showroom, Delhi.) The new Deluxe variant of CB Unicorn Dazzler...

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Its business as usual even after two months of the IRDA circular which asked insurers to not reject claims on technical grounds. With no warning or penalty for specific insurers, will the IRDA circular be taken seriously?  Two months ago the Insurance Regulatory and Development Authority...

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Moneylife Digital Team 23 November 2011
Charges are in line with those of other ULIPs Edelweiss Tokio Life Insurance, a new entrant in life insurance business, has launched three ULIPs (unit-linked insurance plans). Wealth Accumulation (Cover Plus) is targeted at customers looking for a balance between death benefit and...

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IRDA’s guidelines on comparison websites will make it impossible for likes of PolicyBazaar.com and MyinsuranceClub.com to survive in their current form The Insurance Regulatory and Development Authority’s (IRDA) stringent guidelines for comparison websites are seen as a deathblow for likes...

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Subrahmanyam B, vice president & head, health vertical, Bharti AXA General Insurance, speaks to Raj Pradhan ML: The Insurance Regulatory and Development Authority (IRDA) circular says that if an insurer does not respond to a portability proposal within 15 days, it is deemed to be accepted. How...

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ML Digital Team 17 November 2011
Nielsen's dubious study According to Nielsen’s study on the life insurance sector and investment patterns, LIFE 2011, insurance products are the favourite of 60% of urban Indians as an investment option; they are likely to invest more than half of their investable surplus in these products...

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ML Digital Team 17 November 2011
But who will service it? The Oriental Bank Mediclaim policy family floater policy is available for sum insured of Rs1 lakh to Rs5 lakh. For a policy of Rs5 lakh, the premium is as low as Rs6,705 a year. This product will be available to all Oriental Bank customers up to the age of 79 years. It...

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ML Digital Team 17 November 2011
You can now revive ULIPS within two years The Insurance Regulatory and Development Authority has mandated insurers to allow policyholders to revive ULIPs (unit-linked insurance plans) in two years of the last premium paid, but not after the lock-in period of five years has expired. It is a good...

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ML Digital Team 17 November 2011
L&T Insurance's novel scheme L&T General Insurance has launched its first product, my:health Medisure Prime. The key feature is that your postal pin code will determine your premium. “Hospitalisation is more expensive in Mumbai and Delhi compared to other cities. One of the reasons for this is...

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Veeresh Mallik 17 November 2011
It may notch up the numbers, but competition is going to be fierce, says Veeresh Mallik The launch of the Hyundai Eon was supposed to be the game-changer again in the small-car market in India. But, after the price was announced, it appears to be one more in the list of ‘will-also-run’ in the...

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Moneylife Digital Team 17 November 2011
PAN for Rs50,000 cash payment of insurance premium From 1st November, you need a permanent account number (PAN) for paying insurance premium of Rs50,000 (or more), if you intend to make insurance payment in cash. The new guidelines are aimed at curbing money laundering and dealing with the...

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IRDA chairman appears to inclined towards the idea of guaranteed pension product even after scrapping of the 4.5% p.a guarantee. According to him, the pension ULIPs sold prior to 1 September 2010 were mis-sold as it was not really sold for pension needs The Insurance Regulatory and...

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