INSURANCE


MDT/PTI 17 August 2012
Tata AIA's Maha Raksha Supreme comes with a minimum sum assured of Rs50 lakh and offers special rates for women and non-smokers   Mumbai: Private insurer Tata AIA Life Insurance has launched 'Maha Raksha Supreme', a non-linked, non-participating term insurance plan that offers...

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MDT/PTI 17 August 2012
Through a personalised service of claims assistance manager, Bharti AXA customers will get the counsel of expert personnel to guide them to take their claims to the logical conclusion   Mumbai: In a bid to reduce procedural bottlenecks, private insurer Bharti AXA Life Insurance has...

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MDT/PTI 17 August 2012
Under the new initiative it would be mandatory for Reliance Life's 1.5 lakh representatives, including employees, advisors and channel partners, to visit its policyholders at least once in year   Bangkok: Private insurer Reliance Life has said its representatives would meet more than...

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Policyholders often have go to courts to receive their claims   In my previous article (Moneylife, 9 August 2012), I had stated that a contract of insurance is one of utmost trust and a proposer should truthfully make full disclosure. The corollary question that arises is: Do...

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MDT/PTI 14 August 2012
IRDA has found lapses in various rules, including non-adherence to norms of referrals and preparation of financial statements, by Tata-AIG Life Insurance Company New Delhi: The Insurance Regulatory and Development Authority (IRDA) has slapped a penalty of Rs49 lakh on Tata-AIG Life...

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MDT/PTI 14 August 2012
Optima Senior provides lifelong health insurance coverage with a guarantee of no loading on change of health status Mumbai: Apollo Munich Health Insurance has launched 'Optima Senior' for citizens above 61 years of age, reports PTI.   "With the onset of retirement, most people...

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MDT/PTI 13 August 2012
Bharti AXA General Insurance applied for getting approval from IRDA for an 'unemployment insurance' product which would cover general credit risk of a person   Mumbai: Private insurer, Bharti AXA General Insurance, is likely to come up with a 'unemployment insurance' product in the...

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MDT/PTI 10 August 2012
CGG Bank will offer the IndiaFirst Group Credit Life Plan and IndiaFirst Group Term Plan to its loan and savings bank account customers   Mumbai: Private insurer IndiaFirst Life Insurance on Friday added two insurance products for the customers of Chaitanya Godavari Grameena Bank...

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MDT/PTI 10 August 2012
With the introduction of add-ons, HDFC ERGO customers can claim expenses incurred towards repair or replacement of internal parts of gear box and labour cost to overhaul the damaged engine and gear box Mumbai: Private insurer HDFC ERGO General Insurance said it has incorporated add-ons...

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Buying travel insurance is often done to comply with the tour operator’s demand or the requirement of a foreign country for granting a visa. Raj Pradhan explains the risks that can inflict heavy financial damage unless you are insured and which of these can be taken care of by common sense

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Moneylife Digital Team 08 August 2012
New products, regulations, features and options, interpreted from your perspective IDBI Federal Lifesurance Suvidha Savings: Low on Insurance IDBI Federal Lifesurance Suvidha Savings Plan is a participating endowment plan with low insurance component of up to Rs3 lakh up to the...

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Moneylife Digital Team 06 August 2012
The CII and E&Y report offers steps to reform the insurance industry—revisit TPA agreements, implement better controls to prevent frauds and product design to protect policyholders    Confederation of Indian Industry (CII) and Ernst & Young (E&Y) report on the insurance industry...

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Aegon Religare’s iHealth is a good surgical benefit plan competing with LIC’s Jeevan Arogya and ICICI Pru Life’s Hospital Care II. Should you go for it? Aegon Religare’s iHealth is a new entrant online health product from a life insurance company. It is a fixed-benefit product offering...

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MDT/PTI 03 August 2012
Despite providing all the relevant documents, including copies of the FIR and the untraceable report, the insurance company had rejected the claim   New Delhi: New India Assurance Company has been directed by a consumer forum to pay Rs9.73 lakh to one of its policy holders as...

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Moneylife Digital Team 02 August 2012
Star Health also introduced a new value added service to its customers - Personal Health Record maintenance services, in electronic form free of cost   Star Health has launched two new innovative health insurance policies - Star Comprehensive and Star Family...

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Dr SD Israni 01 August 2012
The insurer will reject your claim if you disclose wrong facts in the form Insurance is an important part of our lives but how many of us are aware that the underlying principle of every insurance contract is Uberrimae fidei or contract of utmost trust? The principle is that the customer...

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The third part of the United India series, it has been found out through RTI that TPAs are given incentives by United India Insurance to reduce the claims ratio, thus making a mockery of the Insurance Act! Moneylife subscriber Dr Anshu Agrawal from Janakpuri, Bareilly filed a Right to...

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While CIC’s directive to United India to put the date of the policy renewal and the date of policy dispatch to the TPA for every policy is welcome, it has not disclosed everything The sweet victory for Dr Anshu Agrawal was that Central Information Commission (CIC) took the liberty of...

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United India Insurance denied cashless feature for few months after policy renewal citing data was not updated by the TPA. In the age of technology, this seems to be an insurer and/or TPA strategy rather than inefficiency In a landmark judgement the Central Information Commission (CIC)...

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MDT/PTI 27 July 2012
IRDA found the insurer guilty of enrolling new members into the existing group scheme, Bajaj Allianz Life Group Unit Gain-a ULIP Group Insurance Plan, issued to YES Bank, even after fresh circular on ULIPs was issued   New Delhi: Sector watchdog Insurance Regulatory and Development...

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