LIC KI PALISI PRAMOTION RAILY SCN NEWS INDIA

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LIC to invest atleast Rs 60000cr in equities in FY11

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6 Steps to a Positive Body Image

6 Steps to a Positive Body Image

 

positive body image is one that we should all strive for. This is when you know yourself and who you are. You have a very true perception of your size, shape, and weight. You see yourself as you are in the present. You accept yourself, even though you may be overweight. You believe in yourself and love yourself while still striving for something better. When you have a positive body image, no time is spent obsessing about food, weight, calories, exercise, etc. You are proud of who you are and feel comfortable in your own body. Many people that suffer from binge eating disorder do not have positive body images. Instead, they have very distorted images of how they see themselves.

 

Here are six ways to create a positive body image for yourself. 

More :- http://www.myallagents.com/6-Steps-to-a-Positive-Body-Image/details.html

To developed Effective Leadership Characteristics

To developed Effective Leadership Characteristics --
Effective leadership characteristics are seen in the most successful people in life. If you have a position of responsibility, whether in your career, home or community, there are certain traits and leadership skills that will help you become a confident, capable, efficient leader.
More CLICK THIS

LIC, Vijaya Bank ink MoU for distributing insurance products

LIC, Vijaya Bank ink MoU for distributing insurance products

LIC on Thursday inked an MoU with Bangalore-based Vijaya Bank for distribution of its life insurance products on a referral basis.

Vijaya Bank has become the ninth public sector bank to have inked an MoU of the kind with the Life Insurance Corporation (LIC).

Vijaya Bank CMD Albert Tauro said that the agreement would help Vijaya Bank become a 'one-stop' solution for its customers, offering a variety of financial services and products.

More :- LIC, Vijaya Bank ink MoU for distributing insurance products

IRDA to cap reduction in yield on ULIPs from sixth year onwards

IRDA to cap reduction in yield on ULIPs from sixth year onwards
Policy holders of Unit Linked Insurance Plans (ULIPs), who wish to pre-maturely withdraw can now be happy as their investment will soon have some protection.
The Insurance Regulatory and Development Authority (IRDA) is planning to cap reduction in yield from the sixth year (of the policy) onwards, according to reliable sources.
Earlier, the cap was applicable only at the time of maturity. If anybody pre-surrenders their policy, the return on the investment is dependent on the discretion of the insurer.
The new norm, which will be announced shortly will in a way remove the earlier anomaly and make ULIPs more customer-friendly.
More :- IRDA to cap reduction in yield on ULIPs from sixth year onwards

IRDA to make ULIPs investor-friendly

Insurance regulator IRDA, which has won its turf war with market watchdog SEBI over regulation of ULIPs, is expected to tighten norms for these schemes, including commission charges, to make them attractive for investors.

There would be stricter and stringent distribution norms, leading to lowering of commissions on the sale of such products, sources said.

Currently, commission charges are as high as 50 per cent of the first-year premium.

According to IRDA Chairman J Hari Narayan, it will frame new guidelines for these products to make them more attractive for policy holders.

At the same time, the regulator plans to come out with directives to improve the transparency element of such hybrid products, which involve both investment and insurance.

The regulator will also try and address the issue of increasing the lock-in-period and raising life cover.


More Details :- IRDA to make ULIPs investor-friendly

Insurers may unveil new unit-linked offerings

With the regulatory dispute over unit-linked insurance plans (ULIPs) behind them, insurance companies are gearing up to launch new ULIPs.

Most insurers had put on hold new launches after the Securities and Exchange Board of India, asked them to take its permission before launching such products.

“Many investors will now go ahead and invest in ULIPs. Insurance companies that had put on hold new products will now bring them out,” said Mr Nageswara Rao, Managing Director and Chief Executive Officer, IDBI Fortis Life Insurance. “We are also working on some new products”.

More Details :- Myallagents.com

Lakshmi Vilas signs MoU with LIC

To achieve its ambitious growth plan, Lakshmi Vilas Bank (LVB) plans to take both the organic and inorganic route to grow, its Managing Director and CEO, Mr K.S.R Anjaneyulu, said. Speaking to the media after signing a Memorandum of Understanding (MoU) with the Life Insurance Corporation of India for marketing the latter's product offerings through LVB's branch network, Mr Anjaneyulu said: “we will require capital to keep pace with our growth plans. We plan to enhance equity for the bank and its subsidiary.” He said he would be unable to divulge more details at this point as such issues would have to be cleared by the Board
More Details :-Myallagents.com

LIC NEWS

1	No ULIP product approval is pending: IRDA
2	Will IRDA continue to regulate ULIPs?
3	LIC to invest Rs 2 lakh cr across various asset classes
4	How much term cover do you need?
5	LIC Housing eyes banking licence
6	LIC misses REC bus
7	LIC south zone eyes Rs 6,500-cr premiums for 2009-10
8	LIC buys aggressively in frontline companies
9	Life insurers want tax relief for maturity proceeds to continue

Life insurers want tax relief for maturity proceeds to continue

Life insurers want tax relief for maturity proceeds to continue

Life insurance companies want the current system of tax exemption for insurance maturity proceeds to be continued. The proposed Direct Taxes Code has suggested deduction of tax on the final payout, while exempting the policy premium at the time of contribution and the interest on it.


The insurers have made a representation to the Government that the Exempt Exempt Exempt (EEE) method of computation should continue as against the Exempt Exempt tax (EET) method proposed in the Direct Taxes Code.
Insurance products are driven by tax benefits. The January-March quarter, which is the tax planning season, contributed 45-50 per cent of the total sales of the industry, said Mr Nageswara Rao, Chief Executive Officer, IDBI Fortis Life Insurance.
The domestic insurance industry is at a nascent stage and taxing the maturity proceeds as proposed by the Direct Taxes Code will adversely impact the life insurance business and the industry. It will discourage investors to invest in long-term savings as it may result in unjustified tax burden especially on those customers who do not avail themselves of the benefit under Section 80C, said Mr T.R. Ramachandran, Chief Executive Officer and Managing Director, Aviva Life Insurance.
More details :-

Life insurers want tax relief for maturity proceeds to continue

LIC Profit Plus | LIC Life Insurance

LIC profit plus is a unit linked endowment plan where the PPT or the premium payment plan is limited to a single sum of amount more than 3, 4 and 5 years. When the insurance policy gets developed the policy holder can exercise resolution option and can receive the policy money in installments. The installments will be available over a period not more than 5 years from the planned date of maturity of the term.

LIC profit plus does not provide any life cover during this period. The value of the payable installment is a subject to investment risk because the NAV value may go up and down according to the presentation of the fund.
More Details Click Here :-  LIC Profit Plus | LIC Life Insurance

Insurance Institute of India Model Tests online test

Model Tests

In order to familiarise yourself about the pattern of question paper, you may attempt model test papers of:

Insurance Institute of India Mock Tests

and get it evaluated instantly on submission of test paper....Experience the feel of Real Test!

Please go through the Instructions carefully before taking the test.


Instructions for appearing the Model Test:

• The question paper consists of objective type questions only.
  
  
• For every question, you will find four alternative answers. To select your answer, click on the radio button next to the alternative.
  
  
• In case you want to change the answer click on any other desired alternative.
  
  
• After completing the test, press the ‘done’ button. A list of questions attempted as well as not attempted will appear along with the two options, 
  viz, ‘Go back to question paper’ or ‘Submit answer paper’.
  
  
• In case you want to go back to your question paper, to recheck your answers, click on the ‘Go back to question paper button’.
  
  
• Click on the ‘Submit question paper’ button to submit the paper and result will be displayed on the screen
  
  
• Click on ‘Close window’ to close the model test paper.

Insurance Agency Marketing and PR

Insurance Agency Marketing and PR

Small business marketing tips help any business promote their products and services. Identify an insurance agency’s marketing and public relations campaign objectives to stay on target. Some questions to ask:

* What will be gained by an insurance agency’s marketing campaign?
* Is the focus on finding new customers or customer retention? Or both?
* What messages should be sent to prospects, customers, business partners and insurance agency employees?

Completing an executive summary, a more complex SWOT (Strengths, Weaknesses, Opportunities and Threats exercise) or compiling competitive intelligence helps small businesses identify their insurance agency’s marketing and public relations objectives and to get agreement on them.
Small Business Marketing Goals

Set concrete marketing and public relations campaign goals for an insurance agency or small business. Agencies may need to change goals later, but this sets checkpoints to review progress throughout the campaign. Here’s a sample marketing campaign goals and objectives statement:

Lisa Nichols' Insurance Agency has a great opportunity to find all-new customers in 2008. It is estimated that there are 10,000 potential, eligible agency customers in our community. The agency anticipates that 1,000 new customers will join the agency by the end of 2008, and that an additional 2,000 customers will be on board by June 2009.

L.I.C. Development Officers' Exam

L.I.C. Development Officers' Exam

A competitive examination for the recruitment of Assistant Development Officers' in the Life Insurance Corporation is held once a year, generally in the month of
September. The blank application forms and particulars are published in the Employment News, generally in the month of July and the last date for submission of applications is generally the first week of August.

Educational Qualifications: Candidates must hold a Bachelor's Degree in Arts, Science, Commerce, Agriculture or Law of an Indian or Foreign University or an equivalent qualification.

Age Limits: The applicants should have completed the age of 21 years on the 1 st July of the year of examination.
More Detail Pls check the link
L.I.C. Development Officers' Exam

Tips To Keep More Money in Your Pocket in a Easy Way

Tips To Keep More Money in Your Pocket

Skyrocketing gas prices have gotten a lot of media attention this year, but most consumers have surely noticed that the costs of many basic goods have also crept higher, taking a toll on their monthly budgets. The Virginia Society of CPAs offers these suggestions on the best ways to boost the cash in your pocket.

Links :- 1) Tips To Keep More Money in Your Pocket
                            2) How to Become LIC Agent
                            3) How to Become a Federal Agent

LIC Agent Exam - IRDA Agent Exam Question Paper

Insurance Institute of India conducts every year an all India based competitive exam for recruitment of Insurance agents and is known by the name of IRDA exam or Insurance Regulatory and Development Authority exam. The basic requirement to sit for the exam is that he or she must have cleared his class 12th from a recognized university or board.

IRDA exam can be given in two modes, online and offline. Candidates preferring to go for manual mode would have to submit duly filled-in exam entry form to the concerned authority. The form is also supposed to be countersigned by the sponsoring insurer. Now, if the applicant wishes for both the general as well as life branches, he or she would have to fill two separate forms.

As regards the pattern of question is concerned, theme always remains the same, as in all the questions would be related to the Insurance, loans, regulations and their general application. Moreover, you can also expect some numerical problems as well. However, they won’t be rocket science, so you do not have to worry. They would be like normal percentage, discount and loan calculation.
Sample Exam Paper
1) IRDA Agent Exam Question Paper - 1
2) IRDA Agent Exam Question Paper - 2
3) IRDA Agent Exam Question Paper - 3

Bonus Information - Life Insurance Corporation of India

Bonus Information - Life Insurance Corporation of India 2008-2009
All this “bonus rates” is always declares on the sum assured instead of the amount you deposit [premiums] to the LIC.

So if you have a policy of Rs2, 00, 000 with a premium of Rs10, 000 per annum and the bonus rate is 5.5% then your this year bonus amount will be Rs11, 000 [5.5% of 2, 00, 000] and not Rs1100/

Click on the following Link
http://www.myallagents.com/Bonus-Information-Life-Insurance-Corporation-of-India/details.html

Winning With Mutual Funds

Winning With Mutual Funds

A mutual fund (called 'unit trust' in Asia) is an investment vehicle that pools money from many individual investors. A professional fund manager invests and manages these funds into stocks, bonds and other securities.

People usually invest in mutual funds because it is offers the advantage of broad diversification (it spreads your money over tens or hundreds of stocks to reduce risk) and professional management. However, do remember that as broad diversification reduces risks, it also reduces return.

First, here is the bad news. If you speak to most people who have invested in unit trusts in Asia (especially Singapore) or in mutual funds, most would report losing money or just earning measly returns of 2%-4%. In fact, in the year 2004, it was reported in the Straits Times that 559,000 Singaporeans lost $680 million by investing their CPF in these funds. By going to the largest unit trust distributor Asia, you can easily calculate that only 6% of unit trusts beat the S&P 500 over a ten-year period. What are the chances of you placing your bet on this 6%? Chances are you would have had lower returns that the index, while still having to pay those hefty sales charges and annual management fees.

How about the US mutual fund market? On average, less than 10% of mutual funds beat the S&P 500 index each year! What's worse is that it is a different 10% each year. Less than 3% of mutual funds are able to beat the S&P 500 Index over a five to ten year period. So again, what are the chances of you beating the market through betting on the right fund? Only 3%! You have better odds at the Black Jack table. The worse thing is that the fund manager gets paid an annual management fee whether or not the fund makes money.

Why is it so difficult for most people to make money in mutual funds? There are four main reasons.

1) High Sales Charges & Management Fees

Most people buy mutual funds through banks and financial institutions at retail prices where there is a sales charge (front load) and high annual management fees (expense ratios).

In Asia, most banks & financial institutions sell unit trusts with a sales charge of 5%-6% and with annual fees of 1.5%-2%. It means that before you even begin, you are down 6.5%-8% on your investment and will be down another 1.5% every year. Your fund must outperform the S&P 500 by 6.5%-8% just to make it worth your while! Again, less than 10% of funds worldwide can achieve this every year and less than 3% can achieve this over five years.

2) Buying the Hottest Performing Funds
Most people choose funds based on high short-term returns. These are the funds that are normally pushed and advertised by financial retailers. They feature impressive and enticing returns like 'This fund was up +65% in the last six months'.

The fact is that the best short-term performing funds tend to also be big losers in the subsequent years and long term. Why? Because these funds tend to be invested in hot stocks or hot sectors where the stocks have been rising rapidly and fund managers buy, riding on the momentum. That is why they post very spectacular returns. However, strong buying activity tend to push these stocks to be overvalued and sure enough, the stocks will come crashing down in the next few years. Mutual funds that consistently beat the S&P 500 tend to be invested in non-hot sectors and do not post spectacular short-term returns.

3) Limited Selection of Unit Trusts Locally

If you are in Asia, then you are normally exposed to only a limited number of unit trusts. A check with fundsupermart.com (the largest Asian unit trust distributor) shows that there are just about 300 funds available here compared to over 8,000 funds in the US market.

When I made a search on the Top Performing Fund sold locally (year 2005), I was presented with 'Fidelity America USD' with a 10-year annualized return of 11.27%. (Recall that the S&P 500 returned 12.08% a year). So, even the top-performing fund couldn't beat the S&P 500 after deducting expenses & fees!!

4) Lack of Research Knowledge, Data & Tools

The single most important reason why investors lose money in mutual funds
is because they don't have the knowledge or necessary information to search for the top 3% of consistent performing funds at the lowest costs. Investors tend to buy on the advice of their bank managers, facts from the fund fact sheet or prospectus which does not provide enough information to select the right fund.

11 Essential Steps to Retirement Planning

11 Essential Steps to Retirement Planning


Life Insurance


It used to be that Americans retired at 65 with a gold watch and a nice, fat pension. But times have changed, and now we're finding we have to take a more active role in preparing for retirement.

This new world of 401(k) plans and Roth IRAs leave many people confused and uncertain. A 2009 Employee Benefit Research Institute survey, for instance, found that only 44 percent of Americans have ever tried to calculate how much they need for retirement.

"Planning for retirement can be a daunting task, especially given the recent economic climate," said Insured Retirement Institute (IRI) President and CEO Cathy Weatherford. "And while by most accounts the financial forecast appears to be improving, millions of Americans have yet to begin preparing for their retirement."

According to the IRI and the U.S. Department of Labor, there are 11 steps you can take to ensure that you do not outlive your savings.

1. Select a target retirement date

This important step determines how much money you need. If you want to retire early--say at the age of 55--you need to have a good post-retirement income and a lot of savings because your retirement could last 30-40 years. You should also buy health insurance until Medicare kicks in at age 65.

The Department of Labor says most people retire at the age of 65-66, although many are continuing to work later in life. Key benchmarks that may influence your decision on when you ultimately retire:

* Age 59 ½: You can withdraw from retirement accounts without paying a tax penalty
* Age 62: The minimum age to receive Social Security benefits
* Age 66: Eligible for Social Security benefits if born between 1943-1954
* Age 70 ½: Face tax penalties if you don't start taking minimum withdrawals from retirement accounts

2. Calculate the amount of money you should accumulate by your target retirement date

This is largely determined by what your lifestyle, living and medical expenses will be during retirement. You should also take into consideration the cost of inflation. The Labor Department recommends you plan for a 30-year retirement, regardless of what age you retire.

Key questions to ask yourself:

* Will I still have a mortgage payment or will my home be paid for?
* How much will I want to travel?
* How much of my current monthly expenses continue after I retire?
* How much should I keep in investments? (financial experts recommend that you continue making investments that earn enough to cover the cost of inflation)
* Will I want additional health insurance to pay for services not covered by Medicare?

3. Figure out how to maximize your Social Security benefits

More than half of retirees start collecting benefits at age 62, but advisors note that your monthly payments may be a third higher if you wait until age 66 to start collecting. Those who wait until age 70 receive 75 percent more.

"Millions of Americans may not be aware of the financial advantages most people gain by waiting even a few years to begin receiving their benefits," Weatherford said.

4. Take advantage of tax-advantaged plans, such as employer-sponsored retirement plans, individual retirement accounts and annuities

According to Kiplinger magazine, many retirees who either lost money or lost faith in the stock market are purchasing insurance annuities to provide guaranteed income during retirement. With an annuity you pay an insurance company a large sum of money in return for a monthly check for a certain time period or for the rest of your life. For instance, a 65-year-old man could make $725 a month by purchasing a $100,000 annuity.

The Labor Department notes that some annuities make adjustments for inflation. It recommends you carefully review the terms of the investment and answer the following questions:

* Does the amount paid vary based on investment returns or is it fixed?
* What will you pay in related fees?
* How are the payouts taxed?

5. As that your employer start a pension or retirement plan if one doesn't already exist

Starting a retirement savings plan is easier than many small business owners might think. Retirement plans help to attract and keep good employees, and the employer's contributions are tax deductible.

6. Only use your savings for retirement

Many experts agree on this step. The Labor Department notes that if you dip into your retirement savings, you lose principle and interest, and you may lose tax benefits. Roll your 401(k) into an IRA if you change jobs.

7. Diversify your assets and be sure to include guaranteed income for life

Experts recommend you keep money in a safe, interest-bearing account, as well as some money-earning stocks. This spreads the risk. The Labor Department recommends the following distribution:

* Some money in savings or checking accounts with no risk
* Some in bonds, with a little more risk
* Some in stocks with a higher risk, but a higher return

Another way to diversify is by investing in index mutual funds.

8. Ask questions and get help by seeking the advice of a professional financial advisor

An expert can help you sort through all the investment opportunities and help you decide what's right for you. But avoid strangers on the phone or the Internet--retirees are frequent targets for scammers.

9. Start now and set goals

The IRS recommends you set up a "painless" payroll deduction, regardless of your age or how long you have until retirement. Other strategies:

* Maximize your pre-tax deductions at work
* Make catch-up contributions after the age of 50
* Work a few years longer than you might otherwise have
* Don't take on large debt during your pre-retirement years
* Hold off withdrawing Social Security benefits

10. Start a retirement plan and monitor your progress

A retirement plan can help set out your goals for saving and your strategies for reducing debts. Write down those goals and strategies. According to the Labor Department, people frequently alter future spending patterns if they record their expenses and have a plan for reducing them.

11. Use whole life insurance to protect your family's finances

Purchasing a whole life insurance policy, which pays beneficiaries when the insured individual dies, is a way to ensure your family is financially protected should the breadwinner pass away and is no longer bringing home a paycheck. A whole life insurance policy can provide the funds necessary, so that your spouse doesn't have to go back to work during retirement, or that your children don't have to tap into their own savings to pay for a funeral. A properly sized policy can make sure your spouse has enough money to pay the outstanding principle on your home, finish paying for a child's college or cover other large expenses.

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Factors affecting insurance quotes

The life insurance quotes refer to the rates of life insurance policies. However these rates vary from company to company and from policy to policy. Though there many sources for information about the quotes it is better to collect from the company itself. If you can collect from more companies, well and good as it gives competitive edge. Read more from the article on insurance quotes.The article covers

* What are life insurance quotes?
* Where to get them?
* Factors affecting insurance quotes
* Best life insurance quotes

Life Insurance quotes are the prices at which life insurance policies are proposed to be sold. In that context a life insurance quote does not necessarily become the selling price of all life insurance policies as some are given at concessions in case if the individuals chooses to take other types of insurance policies from the same company. In case of group life insurance scheme special discounts are also offered. Life insurance quotes vary from company to company and from individual to individual.

There are several methods for obtaining the life insurance quotes. The insured can contact the company directly to collect the information. He may also visit the official website of the company and enter the required details. He will thus be able to obtain online life insurance quotes. Similarly the insured can collect the information from insurance agents. An insurance agent will not only offer you the quotes but also help you in deciding the one that is best for you.

It is recommended to get quotes from as many companies as possible. This will give you the details of many companies and also help in deciding the best options. You may also find the competitive edge by comparing one with the other. These insurance quotes are extremely useful to you. They help you to know how much you should invest exactly in an insurance policy.

Parts of an insurance contract

Parts of an insurance contract

* Declarations – identifies who is an insured, the insured’s address, the insuring company, what risks or property are covered, the policy limits (amount of insurance), any applicable deductibles, the policy period and premium amount. These are usually provided on a form that is filled out by the insurer based on the insured’s application and attached on top of or inserted within the first few pages of the standard policy form.

* Definitions – define important terms used in the policy language.
Insuring agreement – describes the covered perils, or risks assumed, or nature of coverage, or makes some reference to the contractual agreement between insurer and insured. It summarizes the major promises of the insurance company, as well as stating what is covered.

* Exclusions – take coverage away from the Insuring Agreement by describing property, perils, hazards or losses arising from specific causes which are not covered by the policy.

* Conditions – provisions, rules of conduct, duties and obligations required for coverage. If policy conditions are not met, the insurer can deny the claim.

* Endorsements – additional forms attached to the policy form that modify it in some way, either unconditionally or upon the existence of some condition. Instead of allowing nonlawyer underwriters to directly customize core policy language with word processors, insurers usually direct underwriters to modify standard forms by attaching endorsements preapproved by counsel for various common modifications.

Parts of an insurance contract

Parts of an insurance contract

* Declarations – identifies who is an insured, the insured’s address, the insuring company, what risks or property are covered, the policy limits (amount of insurance), any applicable deductibles, the policy period and premium amount. These are usually provided on a form that is filled out by the insurer based on the insured’s application and attached on top of or inserted within the first few pages of the standard policy form.

* Definitions – define important terms used in the policy language.
Insuring agreement – describes the covered perils, or risks assumed, or nature of coverage, or makes some reference to the contractual agreement between insurer and insured. It summarizes the major promises of the insurance company, as well as stating what is covered.

* Exclusions – take coverage away from the Insuring Agreement by describing property, perils, hazards or losses arising from specific causes which are not covered by the policy.

* Conditions – provisions, rules of conduct, duties and obligations required for coverage. If policy conditions are not met, the insurer can deny the claim.

* Endorsements – additional forms attached to the policy form that modify it in some way, either unconditionally or upon the existence of some condition. Instead of allowing nonlawyer underwriters to directly customize core policy language with word processors, insurers usually direct underwriters to modify standard forms by attaching endorsements preapproved by counsel for various common modifications.

Insurance Policy

Insurance Policy.

In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the insured, known as the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for payment, known as the premium, the insurer pays for damages to the insured which are caused by covered perils under the policy language. Insurance contracts are designed to meet specific needs and thus have many features not found in many other types of contracts. Since insurance policies are standard forms, they feature boilerplate language which is similar across a wide variety of different types of insurance policies.
Insurance Policy

Insurance Policy

The insurance policy is generally an integrated contract, meaning that it includes all forms associated with the agreement between the insured and insurer. In some cases, however, supplementary writings such as letters sent after the final agreement can make the insurance policy a non-integrated contract. One insurance textbook states that “courts consider all prior negotiations or agreements … every contractual term in the policy at the time of delivery, as well as those written afterwards as policy riders and endorsements … with both parties’ consent, are part of written policy”. The textbook also states that the policy must refer to all papers which are part of the policy. Oral agreements are subject to the parol evidence rule, and may not be considered part of the policy. Advertising materials and circulars are typically not part of a policy. Oral contracts pending the issuance of a written policy can occur.
General features

The insurance contract is a contract whereby the insurer will pay the insured (the person whom benefits would be paid to, or on the behalf of), if certain defined events occur. Subject to the “fortuity principle”, the event must be uncertain. The uncertainty can be either as to when the event will happen (i.e. in a life insurance policy, the time of the insured’s death is uncertain) or as to if it will happen at all (i.e. in a fire insurance policy, whether or not a fire will occur at all).

* Insurance contracts are generally considered contracts of adhesion because the insurer draws up the contract and the insured has little or no ability to make material changes to it. This is interpreted to mean that the insurer bears the burden if there is any ambiguity in any terms of the contract. Insurance policies are sold without the policyholder even seeing a copy of the contract.

* Insurance contracts are aleatory in that the amounts exchanged by the insured and insurer are unequal and depend upon uncertain future events.

* Insurance contracts are unilateral, meaning that only the insurer makes legally enforceable promises in the contract. The insured is not required to pay the premiums, but the insurer is required to pay the benefits under the contract if the insured has paid the premiums and met certain other basic provisions.

* Insurance contracts are governed by the principle of utmost good faith (uberrima fides) which requires both parties of the insurance contact to deal in good faith and in particular it imparts on the insured a duty to disclose all material facts which relate to the risk to be covered. This contrasts with the legal doctrine that covers most other types of contracts, caveat emptor (let the buyer beware). In the United States, the insured can sue an insurer in tort for acting in bad faith.

Structure

Early insurance contracts tended to be written on the basis of every single type of risk (where risks were defined extremely narrowly), and a separate premium was calculated and charged for each. This structure proved unsustainable in the context of the Second Industrial Revolution, in that a typical large manufacturer might have dozens or hundreds of types of risks to insure against.

In the 1930s, the insurance industry shifted to the current system where covered risks are initially defined broadly in an insuring agreement on a general policy form, then narrowed down by subsequent exclusion clauses. If the insured desires coverage for a risk taken out by an exclusion on the standard form, the insured can pay an additional premium for an endorsement to the policy that overrides the exclusion.

Say Bye To Financial Crunch

It’s true that there is hardly an end point to human wants. Wants are unlimited. Suddenly after fulfilling one you realize the presence of the other. And you find your sources dried up to meet them. In this circumstance, the answer for your self satisfaction may seek asylum in the line ‘all wants can not be satisfied’. But can you live a life with growing discontent? Will you be happy to lead a life of compromises? No is the universal answer to all these questions.

So how to make your wants come true. You can not access secured loans if you are not in a mood to offer your property in against. Loans available against property also involve more paper works and scrutiny. Wants are also uncertain and do not always come with a notice. So when you encounter a new demand you can not afford the luxury of risking your property every time.

Personal loans carry a solution to all the above problems. You can avail up to 25,000 pounds without risking your property. The lowest limit of these loans is five hundred pounds. The paper work and scrutiny related to it is simple and hassle free. You can avail the loan facility even if your credit history is not good. The most appealing feature of these loans is the complete flexibility. You can use them for any purpose.

The interest rate in personal loans is higher compared to the secured loans. It is higher as you are not providing any property as a security to get the loan. The repayment pattern is also customer friendly. You can choose the convenient repayment pattern. All you need is a search on the Internet for the companies offering such loans and registering your name in the form provided.

Personal loan make you free from financial worries. You can meet the desired expenses without sacrificing the current expenditures. So, do not make your wishes to remain unfulfilled. Make them life size and say a good bye to the financial hindrances with the personal loans.

Needs And Benefits Of Insurance

Insurance is a form of risk management primarily used as a protection against the risk of loss. It transfers the risk of a loss, from one entity to another, in exchange for a premium. The insurance rate is a factor used to determine the amount called the premium, to be charged for a certain amount of insurance coverage.

By purchasing insurance policies, individuals and businesses can receive reimbursement for losses due to car accidents, theft of property, and fire and storm damage; medical expenses; and loss of income due to disability or death.

The amount of insurance and type of insurance you need depends on your sources of income, your debts, your goals, and your lifestyle. One can buy insurance from independent agents, insurance companies, banks and even through online mode.

There are many types of insurance available in the market like life, auto, business, home and health insurance. Insurance companies sell various insurance plans to insurers. If an insurer met with any kind of loss he can claim for his or her insurance.

Insurance helps you to use your money at the time of emergency as emergency can come anytime in our lives without knocking. So, it’s better to play safe. For example, if you are worried about your children’s higher studies, you can secure your money through insurance which will give you benefits in future. An insurer needs to pay monthly premium amount according to their policy.

Online purchasing of insurance policies is getting popular these days. Earlier people used to meet an insurance agent in person rather than relying on an impersonal source. But, now as internet is providing lots of opportunities and best competitive deals. This has led to change in the mindset of common people. Online medium of getting insured saves much of their precious time, as well as money. Here, they can deal with various reputed lenders and can update with new policies available in the market. Lenders are taking care of the information of the insurers so that nobody can misuse it.

Insurance Agent: Career Information

Job Description of Insurance Agents:
Insurance agents, who may be referred to as insurance sales agents, help clients choose insurance policies that suit their needs. Clients include individuals and families as well as businesses. Captive agents work for an insurance company, and only sell that company's products. Independent insurance agents, or brokers, represent several companies. Types of insurance include property and casualty, life, health, disability, and long-term care insurance. Many insurance agents also sell mutual funds, variable annuities and other securities.
Employment Facts for Insurance Agents:
Insurance agents held about 436,000 jobs in 2006. About half of them worked for insurance agencies and brokerages and about 23 percent worked for insurance carriers. More than a quarter of all insurance agents were self-employed.
Educational Requirements for Insurance Agents:
Employers prefer to hire insurance agents who have college degrees, particularly in business or economics. They might consider hiring a high school graduate who has proven sales ability.

How to Become an Insurance Agent

A successful insurance agent must be an excellent salesperson with an outgoing personality. The agent must also possess superior mathematical skills and constantly keep up-to-date on any changes within the Insurance Industry.

Instructions

Step 1

Familiarize yourself with the insurance field. Life, health, property and liability insurance are the areas in which most agents currently work.

Step 2

Receive a bachelor's degree in business or economics. Insurance companies prefer to hire individuals whose academic background includes courses in finance, math, accounting, economics, business and public speaking.

Step 3

Become proficient with the computer software used by the insurance industry.

Step 4

Work part time for an insurance agency while you're in college. Ask your guidance counselor if there are any agencies in your area that have training programs for college students.

Step 5

Expect to take your state's exam for the mandatory insurance license after an agency hires you. Classes for the exam are offered in pre-licensing schools of insurance agents associations and in offices of some insurance companies. Make sure you will meet all the licensing requirements of your state.

Step 6

Be prepared to take continuing education classes for years to come. Many states require these on a regular basis.

Step 7

Obtain certification to further your advancement within the industry. By taking intensive courses and examinations after you have had considerable experience as an agent, you can obtain the highly respected designation of Chartered Property and Casualty Underwriter.

Are life insurance quotes useful?

The life insurance quotes refer to the rates of life insurance policies. However these rates vary from company to company and from policy to policy. Though there many sources for information about the quotes it is better to collect from the company itself. If you can collect from more companies, well and good as it gives competitive edge. Read more from the article on insurance quotes.The article covers

* What are life insurance quotes?
* Where to get them?
* Factors affecting insurance quotes
* Best life insurance quotes

Life Insurance quotes are the prices at which life insurance policies are proposed to be sold. In that context a life insurance quote does not necessarily become the selling price of all life insurance policies as some are given at concessions in case if the individuals chooses to take other types of insurance policies from the same company. In case of group life insurance scheme special discounts are also offered. Life insurance quotes vary from company to company and from individual to individual.

Life Insurance - Plan for Life

The very best time to arrange life insurance

is when it's furthest from your thoughts. Take a typical young man. He's at the start of his career, possibly still living at home, but thinking of looking around for a flat. He has a car and the insurance that he arranged for it was probably his first step in the insurance ladder.

If he decided to take out some life insurance, whilst he's still young, fit and healthy he'd get the best possible rates. Probably the most valuable insurance at this stage is Critical Illness (CI) cover.

Whilst life insurance is designed to pay out to your beneficiaries if you die, CI cover will give you valuable support if you become critically ill. For our young man, starting on his career, an illness of this type could be a financial disaster. It is a fact that one in three people will develop cancer at some time in their lives, but the good news is that treatment and cure rates are improving all the time.

Advances in medical science thankfully mean that more and more people will survive many of the major serious illnesses. Unfortunately this recovery can take many months, or even years and necessitate long period of time off work. It may not be possible to carry on with the same work, meaning a change of career. In some cases it may be necessary to change your home and car.

Articals

Sr.No	Header
1	Importance of Insurance
2	Solving Your Problems
3	Whole Life Insurance and the Waiver of Premium Rider
4	Middle Class – Is Savings Compulsory or Optional
5	Understanding Internet Insurance Leads
6	Insurance Leads Guide – Your Guide To Success
7	Life Insurance FAQs
8	ULIP Vs Fixed Deposits
9	ULIP Vs Mutual Fund
10	Life Insurance FAQ on Claims
11	What is Insurance?
12	Charges In ULIP
13	LIFE INSURANCE – A convenient tool to secure future & build wealth
14	What is ULIP?
15	Life Insurance FAQ on Premiums
16	Last Minute Tax Planning
17	Insurers See Less Policy Lapse in 2008-09, Despite Hard Times
18	Life Insurers' Losses Mount 43% in FY09
19	Health Insurance and Income Tax
20	Income Tax
21	TDS provisions on Pension Payments
22	Are You Paying Your Income Tax?
23	Reduce Your Tax Liability By 20%
24	New income tax slabs introduced:- Budget 2010-11
25	Income Tax Refund-Till 31st March 2010
26	Deadline Approaching for 2006 Refunds
27	Children Plan Comparison Chart
28	Income Tax Return (e-filing)
29	Important dates for income tax return
30	Maximum Deduction of Income Tax From Life Insurance Plan
31	5 Good Reasons to File an Income Tax Extension
32	Prepare for Income Tax Season
33	VAT Changes from 1st April 2010
34	Financial planning tips for IT
35	Why Do You need Life Insurance Policy?
36	Due Date Table for TDS and TCS
37	Insurance - A Tax Planning tool cum Investment Plan
38	Life Insurance Corporation Of India
39	Life Insurance Policy Needs for Parents
40	The History Of Life Insurance
41	How to Select a Life Insurance Product
42	Life Insurance Policies – Making the Best Choice
43	What Is Your Investment Style?
44	Life insurance for a small business
45	Are life insurance quotes useful?
46	Settlement Loans Vs. Traditional Loans
47	Long Term Investments for the Future
48	Why You Should Invest
49	ULIP Vs Fixed Deposits
50	Filing Your Income Taxes - How To Identify The Right Time

Life insurance for a small business

The majority of people considers that life insurance is necessary only for their family and them. They wish to ensure financial safety of the future. They do not suspect that their small business too requires life insurance.
Some persons in common possess and operate one, two, three or more small businesses. For example, there was a tragical circumstance -- one of holders has suddenly deceased. Its successors can not want to take their share fraction in board. The reasons happen different: there is not enough formation, a problem with health, absence of interest to the given business etc.
The situation is possible also when the large part of the capital of the holder is connected with the company. In this case even if successors will express desire to have share fraction of the company it rather possibly is necessary to sell shares. For example, to divide the inheritance with other successors or to pay death duties.
Probably, other holders of business will not want to divide management of the company with successors.
Exit can become -- Buy-Sell Agreements. This agreement is reached between all holders of a small business. The agreement provides that if one of holders dies, other holders have the guaranteed right to take shares of the died holder under the set price.
Probably, also to acquire -- Whole Life insurance policies on a life of each holder. Other holders will be considered in this case as beneficiaries. When one of them dies, other holders collect insurance policy incomes. Usually, insurance premiums beneficiaries they are paid it is fast. As a rule, within 60 days after registration of their statement. The cash bonus can be used for purchase at successors of their share fractions. In case of resignation of one of holders or leading employees the insurance policy is transmitted to it as a resignation bonus. This fine decision of a problem with control preservation over the company.
The small business companies can have one or some persons which are key figures in operation of the company. If one of such partners dies or becomes invalid, its life policy ensures stability of the company and business. The cash bonus will help business to work successfully while to the place of the died partner will not find worthy replacement.
Key-person insurance reliably protects company funds, its solvency and solvency if the key employee (one of holders, the main shareholder, the lead manager etc.) dies or to become invalid. Key-person insurance ensures reliability of functioning of your business. Besides, very often potential creditors and investors require Key-person insurance for vip persons of the company. It partially guarantees return of their credits and investments.
That it is necessary to make before purchase Key-person insurance the policy:
1. To conduct an estimation of key persons of the company.
2. To advance cost Key-person insurance the policy.
3. To create business-continuation plan (this plan contains possible actions of the company, in case of loss of insured employees).
Whole Life insurance the policy is the good warranty of stability of business. Term Life insurance unlike Whole Life insurance the policy can expire the policy ahead of time necessary for restoration of stable work of business.
If you wish to be assured of reliable functioning of your small business and to guarantee its stability and prosperity use -- Life insurance. Now in the Internet without the big work it is possible to find the necessary information on life insurance. To find reliable social insurance agents or brokers offering optimum alternatives of life insurance for a small business.

Parents:What Amount Should You Have in a Life Insurance Policy?

Life Insurance Policy Needs for Parents

As a parent, you know you need a life insurance policy, but how much? What is the minimum amount your survivors would need for the monetary loss of you or your spouse? It is estimated to raise a child from birth to college can cost anywhere in the neighborhood of $700,000! Here are some quick and simple ways to get an idea of how much your life insurance policy should be:

Option 1: Determining Expenses (-) Assets: Figure a rough estimate of your annual family budget. This would include your mortgage, child care, insurance, and basic living expenses. Don't forget to include expenses such as vacations, and future education plans such as private school and college. Next, estimate a figure for your assets such as savings, social security benefits, or any other income that will be there such as the income of a surviving spouse. Remember, stay-at-home spouses contribute a lot to the family income by by-passing child care, travel, cleaning, cooking, tutoring and associated costs, therefore would need to be insured also.

Option 2: Salary Estimate: Another quick, but more general way, would be to take your current annual salary and multiply that by 7. For example, if you make 60,000/per year then I would recommend buying a minimum of $420,000($60,000 X 7= $420,000).
If your estimate is high, good, it's probably right. If you are worried about the premium cost, I would recommend choosing term life insurance. You can get a policy for the time you would need it (the amount of time your kids would depend on you) for a lower premium than other insurance options.

Articals

Sr.No	Header
1	Importance of Insurance
2	Solving Your Problems
3	Whole Life Insurance and the Waiver of Premium Rider
4	Middle Class – Is Savings Compulsory or Optional
5	Understanding Internet Insurance Leads
6	Insurance Leads Guide – Your Guide To Success
7	Life Insurance FAQs
8	ULIP Vs Fixed Deposits
9	ULIP Vs Mutual Fund
10	Life Insurance FAQ on Claims
11	What is Insurance?
12	Charges In ULIP
13	LIFE INSURANCE – A convenient tool to secure future & build wealth
14	What is ULIP?
15	Life Insurance FAQ on Premiums
16	Last Minute Tax Planning
17	Insurers See Less Policy Lapse in 2008-09, Despite Hard Times
18	Life Insurers' Losses Mount 43% in FY09
19	Health Insurance and Income Tax
20	Income Tax
21	TDS provisions on Pension Payments
22	Are You Paying Your Income Tax?
23	Reduce Your Tax Liability By 20%
24	New income tax slabs introduced:- Budget 2010-11
25	Income Tax Refund-Till 31st March 2010
26	Deadline Approaching for 2006 Refunds
27	Children Plan Comparison Chart
28	Income Tax Return (e-filing)
29	Important dates for income tax return
30	Maximum Deduction of Income Tax From Life Insurance Plan
31	5 Good Reasons to File an Income Tax Extension
32	Prepare for Income Tax Season
33	VAT Changes from 1st April 2010
34	Financial planning tips for IT
35	Why Do You need Life Insurance Policy?
36	Due Date Table for TDS and TCS
37	Insurance - A Tax Planning tool cum Investment Plan
38	Life Insurance Corporation Of India
39	Life Insurance Policy Needs for Parents
40	The History Of Life Insurance
41	How to Select a Life Insurance Product
42	Life Insurance Policies – Making the Best Choice
43	What Is Your Investment Style?
44	Life insurance for a small business
45	Are life insurance quotes useful?
46	Settlement Loans Vs. Traditional Loans
47	Long Term Investments for the Future
48	Why You Should Invest
49	ULIP Vs Fixed Deposits
50	Filing Your Income Taxes - How To Identify The Right Time