INSURANCE


IRDA has put out mediclaim portability guidelines that could be tough on insurance companies with time limits for handling the portability proposal; policyholders may also lose benefits The Insurance Regulatory and Development Authority (IRDA) has finally issued new guidelines for the 1...

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Bajaj Allianz General Insurance is collecting detailed customer information which together with the claims experience will help it to arrive at the right price for health and motor insurance TA Ramalingam, head-underwriting, Bajaj Allianz General Insurance, says motor insurance has better...

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Moneylife Digital Team 08 September 2011
A new survey offers important insights In a survey of the Asia Pacific Region by insurance major Swiss Re, an overwhelming majority of Indian respondents (89%) preferred buying life and health insurance through insurance agents, followed by banks (36%) and independent financial advisers...

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Moneylife Digital Team 08 September 2011
IndiaFirst Health ULIP’s innovative approach IndiaFirst Health ULIP-Money Back health insurance plan is a long-term savings-cum-indemnity health insurance plan for 5 or 10 years offering cashless facilities at 4,956 network hospitals. The customer need not call a TPA (third party administrator)...

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Moneylife Digital Team 08 September 2011
IDBI Federal Dreambuilder carries high mortality charges IDBI Federal Wealthsurance Dreambuilder ULIP offers the flexibility of choosing premium from Rs25,000 to Rs1 lakh, 13 fund investment options, sum assured with no limit (subject to underwriting), riders which cover 17 major diseases,...

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Yashish Dahiya believes that with agents taking away high commissions, the time is ripe for customers to buy insurance online at a lower price Policybazaar.com aims to bring down the distribution cost of insurance policies to less than Rs1,000 soon, and this should benefit customers,...

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Moneylife Digital Team 08 September 2011
Insurers Cannot Walk Away IRDA has said that insurance companies cannot cancel health insurance policies mid-term. IRDA is responding to complaints from group health insurance policyholders whose contracts were cancelled within a year because of high claims. Insurance companies may have...

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There has been stiff competition in the term plans business recently, with premiums nose-diving as insurers scramble for a larger market share. But LIC’s business in this segment is still miniscule and the insurance giant is gearing up to launch a competitive product The Life Insurance...

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Moneylife Digital Team 25 August 2011
Will the lure of monthly income work for Max New York Life’s new non-participating money back insurance plan? Max New York Life Insurance has launched a traditional non-participating money back insurance plan, called ‘Guaranteed Monthly Income Plan’ which promises regular income flow....

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Moneylife Digital Team 25 August 2011
IRDA reviews stance on guaranteed rate, proposes to expand pension product options The Insurance Regulatory and Development Authority (IRDA) had earlier mandated all pension products to ensure a guaranteed rate of 4.5%pa which was also indexed to the reverse repo rate of the Reserve Bank of...

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IDBI Federal Wealthsurance Dreambuilder ULIP has many good features with appreciable flexibility, although high mortality charges is a drawback IDBI Federal Wealthsurance Dreambuilder is a regular premium ULIP that offers a range of fund options, with flexibility and benefits bundled...

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At a time when the ULIP market is in turmoil, IndiaFirst has launched its health ULIP. Mediclaim cashless approval is normally a huge problem, especially with government insurers. Will IndiaFirst’s tech-savvy approach for cashless approval work without the policyholder having to make a call or...

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Moneylife Digital Team 11 August 2011
Guaranteed returns from Bharti AXA Monthly Income Plan: just 2.5% a year! Bharti AXA Life Insurance—Monthly Income Plan is a traditional policy that guarantees a monthly income for a certain period, called ‘monthly income benefit period’ during the policy term which can be 15, 25 or 30...

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Moneylife Digital Team 11 August 2011
Birla Sun Life Protector offers higher sum assured without increase in premium Birla Sun Life Insurance Company has launched new term plan offerings—‘Protector’ and ‘Protector Plus’. These offer flexibility to customers by giving them the option to increase their sum assured by 5% or 10%...

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Moneylife Digital Team 11 August 2011
Future Generali Bima Advantage costs a packet for enhanced cover Future Generali Bima Advantage is a ULIP (unit-linked insurance plan) that offers an option to possibly double your insurance cover if taken at inception. However, this will be suitably reduced if the enhanced insurance cover...

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Moneylife Digital Team 11 August 2011
Motor insurance for diesel engine cars may be hiked Insurance companies in India are said to be considering hike in premium by 30% for diesel engine cars when compared to equivalent petrol-fuelled cars. The insurers are contemplating the premium hike for diesel cars because such vehicles are...

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This is the insurance world’s best-kept secret. For the first time ever, Raj Pradhan reveals and analyses the products that can cover you and your family—at the most inexpensive premium Five years ago, Jagdish Kumar (name changed)wanted to buy mediclaim for his family. He spoke to many...

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New India Assurance has coughed up Rs1 lakh as penalty for not replying to a client for seven months and ignoring the insurance regulator for a couple of months. Surprisingly, the complaint was not a valid one It may sound strange, but the Insurance Regulatory and Development Authority (IRDA)...

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Rituraj Bhattacharya of Bajaj Allianz Life Insurance says a typical Indian household has insurance as an investment avenue today, as it offers diversification and an opportunity to balance the investment portfolio Rituraj Bhattacharya, head of market management & product development at Bajaj...

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Moneylife Digital Team 28 July 2011
Tata AIG Gyan Prakash has multiple features, but these innovative features come at a cost Tata AIG Life has launched its ‘Gyan Kosh’ unit-linked insurance plan (ULIP). A parent has two protection options with inbuilt waiver of premium (WoP): ‘Security Net’ and ‘Safety Net’. Both the options...

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