INSURANCE


Raj Pradhan Raj Pradhan 22 October 2010
IRDA has finally woken up to the ill-effects of ULPs, which we again highlighted four days ago. The question to ask is why these products were even allowed in the market? It gave insurers ample time to make a killing by charging 80% premium allocation charge in the first year as in the case of...

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Raj Pradhan Raj Pradhan 18 October 2010
Reliance Super InvestAssure Plan will assure that 80% of your first year premium is pocketed by Reliance, and Max New York Life Secure Dreams plan will unsecure your dreams by securing 30% of your first year premium After Unit-linked Insurance Plans (ULIPs), ULPs (Universal Life Policies) are...

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Raj Pradhan Raj Pradhan 15 October 2010
Did you know that many insurers allow only seven days after hospital discharge to submit reimbursement claims? These rules are now being enforced strictly. Policyholders should be aware that a delay may invalidate their claims Did you know that many insurers allow only seven days for submitting...

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Raj Pradhan Raj Pradhan 12 October 2010
Third party administrators have moved the Competition Commission to block public sector insurers from floating their own TPA entity. Will the private TPAs’ move hold water? Third party administrators (TPAs), intermediaries who handle insurance claims, have moved the Competition Commission of...

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Moneylife Digital Team 30 September 2010
New products, regulations, features and options, interpreted from your perspective Big dream, low return Since the Insurance Regulatory and Development Authority (IRDA) started clearing unit-linked insurance plans (ULIPs) according to the revised regulations, new and improved ULIPs are...

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Raj Pradhan Raj Pradhan 29 September 2010
While the principle of portability will definitely help policyholders, a number of issues need to be sorted out before it can see the light of day Mediclaim portability, under which one can carry over one's 'no-claims' or 'low-claims' medical insurance record to any other provider, is not...

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Raj Pradhan Raj Pradhan 24 September 2010
Despite news every now and then that the cashless facility will be started by PSU insurers at corporate hospitals in the four metros, there is hardly any progress in the matter The three-month-old imbroglio between public sector insurers and hospitals over the cashless facility remains...

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Raj Pradhan Raj Pradhan 24 September 2010
The scheme involves cross selling health, wellness, beauty and financial products under the garb of preventive healthcare Jiyo Fit is a new product launched by Bajaj Allianz General Insurance, Yes Bank and Visa. Under this, the policyholder can spend on partner gyms like VLCC, Talwalkars and...

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Moneylife Digital Team 23 September 2010
New products, regulations, features and options, interpreted from your perspective Benefits of buying policies online We are in a world dominated by technology. We do a lot of things online. How about buying insurance plans online? It's especially useful when you know what you want to buy and...

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Moneylife Digital Team 08 September 2010
New products, regulations, features and options, interpreted from your perspective IRDA Guidelines for Grievance Redressal You may have already seen the Insurance Regulatory and Development Authority's (IRDA) advertisements in leading newspapers to encourage anyone having an unresolved...

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Sucheta Dalal Sucheta Dalal  and   Debashis Basu Debashis Basu 03 September 2010
In a freewheeling interview to Moneylife editors Debashis Basu and Sucheta Dalal in Hyderabad recently, J Hari Narayan, chairman of the Insurance Regulatory and Development Authority (IRDA), spoke on key insurance related issues On IRDA's attempt to reach out to policy-holders and creating...

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RELIANCE HEALTHWISE A Policy You Can’t Rely On Don’t you wish your health insurance premiums were much lower? Well, a few years ago, Reliance General Insurance offered extremely cheap health plans. Except that it had an unwritten expiry date. And, so, after having hooked a large number of...

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Raj Pradhan Raj Pradhan 24 August 2010
What are the different types of insurance frauds going on? Raj Pradhan sources some instances from Bajaj Allianz The Bajaj Allianz office at Bellary (Karnataka) received a claim for a life insurance policy worth Rs6 lakh within 27 days of the start of the policy on 13 March 2009. The...

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LIFE AFTER ULIPs-1 Going Traditional While the Insurance Regulatory and Development Authority’s (IRDA) new norms for unit-linked insurance plans (ULIPs) are good for consumers, private insurers are complaining that this is the end of the road for ULIPs. IRDA has directed that from 1st...

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Aaron Rodrigues Aaron Rodrigues 12 August 2010
What to ask yourself before you buy health insurance. Aaron Rodrigues explains In our previous issues, we have told you about Rajeev Malhotra’s mistakes when it comes to buying health insurance—from not being fully honest and cooperative while providing information to insurance companies to...

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PSU insurers have denied some newspaper reports which said that these firms were planning to deal directly with suppliers of medical equipment and pharmaceutical companies Public sector insurance companies have denied some newspaper reports which said that these insurers were planning to deal...

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NEW ULIP Assured Average Future Generali has launched a new unit-linked insurance product (ULIP) called Future Generali NAV Assure. As the name suggests, it is a guaranteed NAV product which promises to offer “maximum amount of growth while protecting the investments against adverse market...

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If you are a policyholder of a life or non-life insurance product, chances are that your policy needs have not correctly been met. The agent, who so sweetly and subtly coerced you into opting for that policy, has, most probably, unknowingly or otherwise, sold you the wrong product. Mis-selling...

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Every stakeholder in the insurance business - hospitals, policyholders, pharmacists, TPAs and insurers - must be put through checks and balances According to M Ramadoss, chairman and managing director of The New India Assurance Co Ltd, "Insurance companies have been witnessing inflated,...

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Moneylife Digital Team 16 July 2010
Patients who were hoping to see the deadlock between hospitals and insurers along with TPAs be resolved will have to wait longer, as medical consultants and hospitals alike are not agreeing with their terms Patients who were hoping that the war between insurance companies, hospitals and Third...

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