Former LIC chief Mathur to be NSE chairman

Former chairman of Life Insurance Corporation (LIC), S B Mathur, is likely to take over as the new non-executive chairman of the National Stock Exchange (NSE), the country’s largest equity trading bourse. According to industry sources, Mathur’s name is under consideration of the Securities and Exchange Board of India (Sebi) after NSE proposed it.http://www.myallagents.com/Former-LIC-chief-Mathur-to-be-NSE-chairman/details.html  

BS People: S S Mundra

The challenges facing S S Mundra, the new chairman and managing director of public sector lender Bank of Baroda, are different from the ones his peers have to deal with. While most state-owned banks are grappling with asset quality headwinds, Bank of Baroda is quite comfortable on that front. The lender has managed to maintain a decent gross and net non-performing asset ratio in comparison to other banks, despite some problems in asset quality. 

http://www.myallagents.com/BS-People-S-S-Mundra/details.html 

Irda publishes five key reforms in gazette

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  http://www.myallagents.com/Irda-publishes-five-key-reforms-in-gazette/details.html

LIC is India's most attractive BFSI bran

At present, under Employee’s Deposit Linked Insurance (EDLI) scheme, wherein employer contributes 0.50% of the basic pay as insurance premium every month to the EDLI scheme, employee gets the benefit equal to his provident account balance if the balance is upto Rs. 50,000 and if it exceeds Rs. 50,000 then account balance plus 40% of the balance. However there is a cap of Rs. 100,000 upto which the benefit can be availed. Prior to the year 2010, the maximum benefit available under this scheme was Rs. 60,000. http://www.myallagents.com/LIC-is-Indias-most-attractive-BFSI-bran/details.html 

Comprehensive health plans better for specific diseases

Some pointed to the fact that this comes close on the heels of new guidelines that don’t allow extra loading, effective October. Sooner or later, all companies would have to comply with this. Currently, health insurers such as ICICI Lombard, Apollo Munich and Bajaj Allianz cover diabetes and hypertension as pre-existing diseases (after a waiting period). New India Assurance would have a four-year waiting period for a cover on the two diseases.http://www.myallagents.com/Comprehensive-health-plans-better-for-specific-diseases/details.html

Five inbuilt free or cheap insurance covers

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

Liberty Videocon General Insurance Company To Achieve Its Biggest Target

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.  http://www.myallagents.com/Liberty-Videocon-General-Insurance-Company-To-Achieve-Its-Biggest-Target/details.html

Shriram Life launches seven new products

According to Manoj Jain, CEO Shriram Life, out of the seven plans, four products are market-linked and the remaining are traditional products. 
"The new products are more customer friendly giving better value proposition in terms of higher surrender values and better death benefits," Jain told reporters here, adding that the new products are in compliance with new guidelines issued by the Insurance Regulatory and Development Authority. http://www.myallagents.com/Shriram-Life-launches-seven-new-products/details.html 

Need to wait and watch, if banks want to become brokers: Insurers

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.  http://www.myallagents.com/Need-to-wait-and-watch-if-banks-want-to-become-brokers-Insurers/details.htm

Now, get your term cover benefit in installments

MUMBAI: Increased affordability has resulted in average sum insured under online terminsurance jumping to Rs 70 lakh. With competition and absence of distribution costs bringing down the price of online term insurance to a third of similar policies sold through agents, companies are now innovating on what was a plain vanilla death benefit plan.  
 http://www.myallagents.com/Now-get-your-term-cover-benefit-in-installments/details.html

Things you should know about your e-insurance account

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:  www.myallagents.com/Things-you-should-know-about-your-einsurance-account/details.html

AUM of life insurers may treble to $ 1 trillion by 2020: Life Insurance Council

 

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.    http://www.myallagents.com/AUM-of-life-insurers-may-treble-to-1-trillion-by-2020-Life-Insurance-Council/details.htm

Term Insurance Comparison

Term Insurance is a form of Life Insurance which provides a stipulated cover for a certain period under contractual agreement. Simply put, Term Plan is financial cover in case if the insured dies; death claim is given to the beneficiary 
http://www.myallagents.com/Term-Insurance-Comparison/details.html 

What are the different types of health insurance?

Different types of health insurance plans meet different needs. When you compare options, it's important to understand how they are structured.

Health Maintenance Organizations (HMOs) and Exclusive Provider Organizations (EPOs)

HMOs and EPOs may limit coverage to providers inside their networks. A network is a list of doctors, hospitals, and other health care providers that provide medical care to members of a specific health plan. If you use a doctor or facility that isn't in the HMO’s network, you may have to pay the full cost of the services provided.

HMO members usually have a primary care doctor and mu
http://www.myallagents.com/What-are-the-different-types-of-health-insurance/details.html 

I-Life Secure Online Plan Launched By Aviva India

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

I need Health coverage that starts before January 2014

You can buy individual insurance that starts before January 1, 2014. We can help you find your options. But some rights and benefits won’t apply yet.
Having health insurance is important

Having health insurance is important to your health and financial security. If you don’t have coverage now and need it before Marketplace coverage begins, you have several options. You can buy directly from an insurance company, with the assistance of a broker or agent, or using an online service.
http://www.myallagents.com/I-need-Health-coverage-that-starts-before-January-2014/details.html