Markets hoping for a strong & stable government

ET Now: IMF growth projections for India seem fairly upbeaten. Perhaps some would say that is what fueled the rally yesterday in the equity markets. 5.4% for FY14, 6.4% for FY15. What is your stance on these projections?Killol Pandya: I will not really be able to see so far into the future, especially in the context of elections. Our best hope is that we get a strong central government. From that perspective it does not really matter which party comes into power. Of course the markets appeared to be strongly siding with one of the two factions, but from the political sense a strong government at the centre will do us well. 
http://www.myallagents.com/Markets-hoping-for-a-strong-and-stable-government-Killol-Pandya-LIC-Nomura-Mutual-Fund/details.html

Readers' Corner: Bhargav Dasgupta

You can port the policy from floater to individual plan for each of your family members, though a family floater has advantages such as being cost-effective, cover for entire family and so on. If you do wish to port to individual plans, you need to check with the specific insurance company regarding the sum insured for each member and other policy terms. Specifically, you need to know the minimum entry age allowed for your children to avail individual policies. If one/both of your children do not meet the minimum entry age criteria, you will need to continue with your existing family floater plan covering the child(ren), with at least one adult being the primary policy member. 
http://www.myallagents.com/Readers-Corner-Bhargav-Dasgupta/details.html 

Edelweiss Tokio Life Insurance launches new traditional plan

Edelweiss Tokio Life Insurance has launched a non-participating, non-linked life insurance plan which offers a combination of savings and protection, called Edelweiss Tokio Life - Wealth Builder. The plan guarantees all the benefits right at the beginning of the policy.

The minimum entry age for the plan is 91 days and the maximum maturity age is 70 years. The policy term ranges between 10 and 30 years with the option of paying premiums in monthly, semi annually or annual installments. In addition, the plan offers tax benefits under section 80 C and section 10(10D) of Income Tax Act, 1961. 

http://www.myallagents.com/Edelweiss-Tokio-Life-Insurance-launches-new-traditional-plan/details.html 

One-for-all insurance policy offers no risk cover

How about ordering Bajaj AutoBSE 0.79 % dealers to sell motorcycles manufactured by TVS Motor and Hero MotoCorp so that consumers have a wider choice and more motorcycles are sold in the country? Sounds far-fetched? Something similar is cooking in financial services. http://www.myallagents.com/Oneforall-insurance-policy-offers-no-risk-cover/details.html

Cholamandalam MS General Insurance eyes GWP of Rs 1,900 crore in FY14

CHENNAI: Cholamandalam MS General Insurance Company is eyeing gross written premium of Rs 1,900 crore by the end of this fiscal with a focus on retail health and motor insurance, a top official said here today.  The city-based company is a joint venture between Rs 225 billion Murugappa Group and Japan-based Mitsui Sumitomo Group.  "Last year (2012-13) we finished (gross written) premium of Rs 1,621 crore. This year we are expecting to complete by Rs 1,850 or Rs 1,900 crore (GWP)," Cholamandalam MS General Insurance Managing Director S S Gopalarathnam told reporters.   http://www.myallagents.com/Cholamandalam-MS-General-Insurance-eyes-GWP-of-Rs-1900-crore-in-FY14/details.html

New India Assurance offer 50% discount for girl child

MUMBAI: New India Assurance has reduced health insurance premium for girl child by 50% for in its new health insurance policy targeted at families with girl children.  On the occasion of Women's Day the company launched Asha Kiran, a policy for families that have only girl children. The policy will also provide personal accident cover for parents. The sum insured could range from a minimum of Rs 2 lakhs to a maximum of Rs 8 lakhs.

 http://www.myallagents.com/New-India-Assurance-offer-50-discount-for-girl-child/details.html 

Metal stocks surge on China demand, RBI policy move

Improving Chinese demand, partial lifting of the Odisha mining ban and the central bank’s move to ease liquidity boded well for metal sector stocks, which climbed to a one-year high on Tuesday. Chinese manufacturing data for the month of May touched a four-month high, leading to hopes that demand from the world’s largest consumer of metals will revive going forward. Further, the Reserve Bank of India’s move to cut the statutory liquidity ratio or SLR by 50 basis points to 22.5 per cent boosted market sentiment resulting in heavy buying in these stocks which have not been major participants in the recent market rally .  http://www.myallagents.com/Metal-stocks-surge-on-China-demand-RBI-policy-move/details.html

10 things to look for in your insurance policy

Life insurance is the only financial tool which offers the triple advantage of risk coverage, long term savings and tax benefit. It offers financial protection to an individual after taking into account the present and future value of his assets and liabilities. However, while the awareness and acceptance of insurance in India is growing, consumers need to develop a better understanding of the products they buy. There are a number of things that each of your life insurance policies should spell out and include, and the document is a complete guide to exactly what your insurance contract covers. This is why it is always important to check a policy very carefully when you first receive it, to make sure that everything you requested is written down in the policy. Mentioned below are ten key parameters to weigh once you received the policy documents.  http://www.myallagents.com/10-things-to-look-for-in-your-insurance-policy/details.html

LIC online term plan: How is it different?

Pankaaj Maalde, Head-Financial Planning, Apna Paisa. It’s rightly said “It’s never too late to start a new beginning”. At last LIC, one of the largest players in life insurance business, launches online term plan which will not only increase awareness but also increase the competition in the market. LIC move also will force other players, who still have not launched it, to launch online term plan soon. Even premium of LIC online term plans is higher compared to peers it will help people to understand the need of life insurance and also reveal the facts that how the investment products are bundled. This will help them to separate insurance and investment need in future.   http://www.myallagents.com/LIC-online-term-plan-How-is-it-different/details.html

How much health coverage is good enough for you

How much health coverage is good enough? Which is the best health plan in India? These are questions that insurance experts are asked frequently. And while there are no fixed answers to such questions, it is alarming to find that a major number of Indians are uninsured. That means the majority of the population doesn’t have health insurance and Indians are the second largest group of people who pay their health bills out of their own pockets. While this is a highly worrying situation, we can draw some consolation from the fact that the health insurance sector in India is growing. More and more people are buying health plans and the IRDA has also simplified the rules, making it easier to buy and use health insurance. Read on to know more. 
http://www.myallagents.com/How-much-health-coverage-is-good-enough-for-you/details.html

Uday Kotak: Government should list LIC; move from NREGA to KAREGA

NEW DELHI: Advocating the need to ensure better fiscal management, Uday Kotak, the Vice-chairman and Managing Director of Kotak Mahindra Bank on Tuesday suggested a big-ticket measure of listing the Life InsuranceCorporation of India (LIC)
.(LIC).http://www.myallagents.com/Uday-Kotak-Government-should-list-LIC-move-from-NREGA-to-KAREGA/details.html

LIC trims stake in Infosys to 3.25 percent; garners Rs 850 crore

LIC, the biggest institutional investor in the stock market, held 3.71 percent stake in Infosys during the October-December quarter, which has fallen to 3.25 percent as of March 31, 2014

The state-run firm has been reducing its stake in Infosys since June quarter. It held 6.72 percent stake in the country's second largest software services exporter at the end of June 30, 2012, as per the latest data available with the stock exchanges. 

 http://www.myallagents.com/LIC-trims-stake-in-Infosys-to-325-percent-garners-Rs-850-crore/details.html 

Why is there a vast difference in premiums of various term insurance plans?

Insurance premium is an amount paid by the policyholder to the insurance company in return for the risk cover. Every insurance company assesses the risk differently and accordingly decides the premium. So if Company A assesses your risk to be low, they will offer you lower premiums. But if Company B considers you to belong to a high risk profile, then they will offer you high premium amount 
 http://www.myallagents.com/Why-is-there-a-vast-difference-in-premiums-of-various-term-insurance-plans/details.html

Draft rules ban replacement of life insurance policies

The Insurance Regulatory and Development Authority (Irda) said insurers could not replace life insurance  policiesunless in the interest of policyholders.
This was to protect the long-term interest of policyholders and to discourage intermediaries from persuading customers to surrender their policies and take up new ones, Irda said in the exposure draft on rules related to the replacement of life insurance policies released on Wednesday. Feedback on the draft can be given till July 20 
http://www.myallagents.com/Draft-rules-ban-replacement-of-life-insurance-policies/details.html

Seek details from insurance agents

You walk into a bank to invest some surplus money in a fixed deposit. The relationship manager offers you another ‘fixed deposit’ linked to a security and gives tax-free interest. Should you go for it? No, because no bank deposit gives tax-free interest and you are being offered an investment-relatedinsurance policy 
http://www.myallagents.com/Seek-details-from-insurance-agents/details.html