INSURANCE


Moneylife Digital Team 23 March 2012
Bajaj Allianz Women Critical Illness Plan offers some benefits that are not offered in regular critical illness products. However, there is no competitive advantage with premium pricing Bajaj Allianz Women Critical Illness Plan offers some benefits that are not offered in regular critical...

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Moneylife Digital Team 23 March 2012
Reliance Life Classic Plan-II is a classic ULIP with all its premium charges in line with those of many new ULIPs. It is a classic plan that may be ignored Reliance Life Class Plan-II is a classic ULIP with all its premium allocation and policy administration charges in line with those of...

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Moneylife Digital Team 23 March 2012
Aegon Religare Guaranteed Income offers 7.5% of the sum assured ever year, after the end of the policy premium payment term, until the age of 85. It competes with LIC’s Jeevan Tarang Aegon Religare Life’s new plan offers life cover along with regular guaranteed income. After the end of the...

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Moneylife Digital Team 23 March 2012
Bharti Axa Life eProtect is now the cheapest online term plan for non-smokers while Edelweiss Tokio’s Life-Protection is the cheapest offline term plan Bharti AXA Life eProtect is now the cheapest online term life insurance plan for non-smokers. There is wide difference in the premium between...

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More and more insurance companies are getting hold of your personal details Recently a Moneylife reader started receiving calls from number 30247032 in Mumbai claiming to be from Kotak Life Insurance’s office in Malad (Mumbai). The caller stated that Kotak Smart Advantage ULIP is being...

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To entice buyers to make hasty decisions at the close of the financial year, insurers are making rampant use of stolen records The insurance industry is possibly the biggest user of stolen databases of customer information. Sometimes, this has its advantages. Many of us have figured out...

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IRDA should look at it from not just revival of lapsed policies, but from customer service angle The Insurance Regulatory and Development Authority (IRDA) has recently issued an exposure draft on orphan life insurance policy. The guidelines allow 100% of renewal commission to allotted agent for...

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More annuity products are coming to the market. Customers will benefit, especially with IRDA specifying that the annuity phase should be from the same insurance company that sells the pension product. Some existing annuity products offer low return, so buyers beware Annuity is not a...

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Insurance is mainly an investment vehicle now. Can we look beyond? It is good to see a host of life insurance companies actually talking about the features of their insurance products. All these years, their high decibel, celebrity-starring advertisements were used to shove expensive...

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Many are stuck with wrong life insurance plans. Financial planners often advice you to surrender the policy and use the money for better investments. Raj Pradhan finds that is wrong advice in most situations. Find out when and how you should surrender life policies Many people are...

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Moneylife Digital Team 07 March 2012
Allows only one consumer representative who has to be IRDA-nominated IRDA has finalised the structure of the much-awaited health insurance forum. The forum will provide assistance and advice to IRDA on issues relating to health insurance. It will help in evolving policies, standard processes...

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Jeevan Vriddhi is designed to attract money from the tax-savers who are desperately seeking avenues to park up to Rs1 lakh. While there are other similar plans in the market, it is LIC’s product that will command attention because of its muscle power Life Insurance Corporation of India (LIC)...

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Moneylife Digital Team 02 March 2012
Sahara Life Insurance had several investment issues but IRDA has not pressed charges after getting clarifications from the insurer. Sahara Life Insurance needs to make several changes to comply with the regulations The Insurance Regulatory and Development Authority (IRDA) had many...

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Moneylife Digital Team 01 March 2012
Sahara Life Insurance has been caught for several violations which resulted in a Rs12 lakh penalty. There were 23 issues raised by IRDA, for which Sahara was let off leniently. Did Sahara Life Insurance get away too easily? The Insurance Regulatory and Development Authority (IRDA) has...

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Bharti AXA new online term plan iProtect has been renamed as eProtect. The obvious reason for it seems to be clash of name with ICICI Pru iProtect. It got the plan name approved from IRDA, then why was it renamed? Why did it even take up the same name in the first place? Bharti AXA Life has...

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Max Bupa’s Heartbeat High Deductible plan is only the second of its kind in the market after United India’s super top-up medicare. The product is attractively priced and will appeal to a specific market segment Max Bupa Heartbeat High Deductible Policy is a super top-up policy, which will...

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The move by the insurance regulator is in the interest of customers as it would bring transparency in the way insurance is pushed by intermediaries. Many times the customer does not even know the insurance company’s name whose product he may be forced to buy Insurance Regulatory and...

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Moneylife Digital Team 22 February 2012
Rethink on Single Premium IRDA is not happy with insurance companies’ increasing focus on single-premium products which has wider acceptability with customers. Even with ULIP business steadily going down by 17% over one year, single-premium products did well. IRDA wants to re-emphasise...

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Moneylife Digital Team 22 February 2012
Will help bring consistency in claims payment IRDA (Insurance Regulatory and Development Authority) will issue detailed rules on claims settlement for health insurance companies by 30 April 2012. This comes after the recent Bombay High Court order asking IRDA to draft regulations on claim...

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Moneylife Digital Team 22 February 2012
New car buyers can now buy life insurance IndiaFirst Life has launched Autolife. Life insurance cover up to Rs20 lakh can be purchased at the time of buying a new car. You will need no documentation, medical tests and there will be no waiting period. This initiative is an innovative...

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