LIC buys Rs 4,300-crore debt from bond auctions of seven states

MUMBAI: State-run Life Insurance Corporation of India (LIC) has bought debt worth about Rs 4,300 crore in state bond auctions conducted by the Reserve Bank of India (RBI), starting the fiscal with its first big-ticket investment after clocking nearly 10 per cent growth in premium collection last year.

The country's biggest insurer bought about four-fifths of the total notified amount in the auction conducted on Wednesday. State development loans (SDL) are the bonds issued by different state governments and sold through a process of RBI auction. 

.http://www.myallagents.com/LIC-buys-Rs-4300crore-debt-from-bond-auctions-of-seven-states/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 

Is it time to upgrade your life cover? Know what's best for you

Thanks to the growing awareness about the importance of life insurance cover, many individuals, especially the young executive types, buy a term life insurance as soon as they start their career. However, the trouble is: typically these covers would be very small, mostly Rs 10 lakh or below , say insurance advisors. This would inevitably lead to some complications in future. When the person gets married, have kids or takes a huge loan, he or she would need a larger cover. However, buying a cover at that time may not be an easy task.  
http://www.myallagents.com/Is-it-time-to-upgrade-your-life-cover-Know-whats-best-for-you/details.html

All insurers may offer digitised policies from July

All life insurance companies may be required to offer insurance policies in a digitised format from July onwards. In a recent meeting with the insurance industry, sources said that Insurance Regulatory and Development Authority (Irda) had asked companies to tie-up with all insurance repositories. At present, several insurers like Life Insurance Corporation of India (LIC ) do not offer the facility of electronic policy since they have not tied-up with any repository. 
http://www.myallagents.com/All-insurers-may-offer-digitised-policies-from-July/details.html