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Parents and grandparents looking
to save for their children/grandchildren's future have been the biggest
targets for life insurance companies. The next in line are those 10-15
years away from retirement. In the recent past, life insurers have
started focusing on women and have come up with products catering to
women-specific needs, specially health-related.http://www.myallagents.com/Give-a-pass-to-womencentric-insurance-plans/details.html
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The
Insurance Regulatory and Development Authority (Irda) has published in
the gazette of India five key reforms related to the sector, including
new guidelines for insurers and reinsurers. The reforms are: Investment
regulations for insurers, Irda (life insurance-reinsurance) regulations;
places of business regulations; Irda appointed actuary amendment
regulations and regulations for the standard proposal form.
According to the actuary  |
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Some products and services have insurance covers most buyers don't know about. The best part is, usually, these are free or quite cheap.
For example, there are covers given along with liquefied petroleum gas (LPG) cylinders, up to a whopping Rs 40 lakh in case of loss of life or damage to property due to cylinder explosions. Though there are a number of LPG cylinder explosions, causing loss to life and property, no one seems to be aware of an insurance cover available for LPG consumers in such cases.http://www.myallagents.com/Five-inbuilt-free-or-cheap-insurance-covers/details.html  |
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Roopam
Asthana, Chief Executive Officer at Liberty Videocon General Insurance
Company, today declared the company’s performance report for the ongoing
year 2013 - 14. He said that till now the company has successfully
achieved a sales figure of Rs. 65 crores as against the budget of Rs.
120 crores for the entire year. The Company is also optimistic about the
business for the remaining part of the year and expects to meet the
budgeted amount of sales.
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State-run insurance giant LIC has
lowered its exposure in 17 blue-chip firms, with sale of shares worth
an estimated amount of over Rs 8,800 crore, in the quarter ended March
31, 2013.
Life Insurance Corporation of India's holding increased in nine Sensex companies during the January-March 2013 quarter, showed an analysis of the shareholding pattern of Sensex constituents.http://www.myallagents.com/LIC-sells-shares-worth-Rs-8800-cr-in-17-Sensex-companies/details.html
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The
Insurance Regulatory and Development Authority (Irda) will issue new
guidelines for the micro-insurance sector within this financial year.
Irda had asked insurance firms to design up to four-five new micro-insurance products, which will be cost-effective, and at the same time provide better returns to investors, said Sudhin Roy Chowdhury, member (life) at a seminar on the insurance sector here on Friday.  |
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While the Insurance Regulatory and Development Authority (Irda) has allowed banks to become insurance brokers, insurance companies said it still needed to be seen whether this would happen.
“It is a positive step, especially for non-bank led companies, since it has been pending for a long time. However, we will have to see, over a period of time, if banks would be interested, and whether RBI would approve. Only after this, would we see an open architecture of bancassurance,” said Deepak Mittal, managing director & chief executive officer, Edelweiss Tokio Life Insurance.  |
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A
new facility introduced by the Irda allows you to hold all insurance
policies in a single account through an e-insurance account. As in the
case of a demat account, the customer can make modifications in the
policy and view all his live policies, as well as the history of past
transactions, at one glance with the help of this facility.
Here are things you should know about an e-insurance account:  |
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HYDERABAD:
Assets under management (AUM) of life insurers will almost treble to
USD 1 trillion (nearly Rs 60 lakh crore) by 2020 from the current Rs
19.4 lakh crore, according to projections by the Life Insurance Council.
Life
Insurance Council Secretary General V Manickam said projections were
made on the basis of growth in GDP and household savings over the next
few years.
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Mr.
Rishi Piparaiya, Director – Marketing and Banassurance at Aviva India
announced the launch of on-line life insurance plan i-life secure. This
plan provides for guaranteed income for 15 years post death of the life
insured. Adding to the above, he said that this plan ensures that the
family of the deceased and their needs are protected, whether it is the
child’s school fees, EMI for housing loan or protection of the family by
way of regular income
. http://www.myallagents.com/ILife-Secure-Online-Plan-Launched-By-Aviva-India/details.html
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