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The
Chandighar district consumer disputed redressal forum passed an order
against MetLife India holding it guilty of unfair trade practice and
deficiency in services. The company was held guilty for mis - selling
eight insurance policies to an underage boy. The minimum age prescribed
for a person to avail insurance policy is 20 years, however the company
sold the above 8 insurance policies to a boy aged 19 years only.
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Showing posts with label health insurance articles. Show all posts
Showing posts with label health insurance articles. Show all posts
Friday, June 27, 2014
MetLife India Fined For Misselling Of Insurance Policies
Irda relaxes eligibility requirements for agents
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Taking into account the
difficulties faced by insurers in recruiting agents, the Insurance
Regulatory and Development Authority (Irda) has decided to reduce the
pass percentage bench mark to 35% in Agents Pre-recruitment Examination.
Till now, the pass percentage was 50%.
In a circular to the chief executives of all insurance companies, Sudhin Roy Chowdhury, Member (Life) of Irda said that the Authority has been receiving representations from various stakeholders expressing the practical difficulties involved in Recruitment of Insurance Agents. He added that the concerns raised have been examined keeping in view the present market scenario.  |
Don't depend on health cover by your employer
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Most salaried are quite happy and content with their employers' health insurance schemes.
Most feel they do not need any more insurance. But in the past three
years, most Indian companies have been reducing the cover or insisting
on co-payment for employees' parents. In such circumstances, employer's
cover may not be enough. So, it is important the cover keeps pace with
rising costs.
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Q2 advance tax payout of top 100 companies sees muted growth
UMBAI: In line with macro environment, the advance tax collections from the top-100 corporates from the financial capital showed a muted growth for the September quarter, with the outgoes increasing by only up to 8 per cent, a senior official said today.
"For the top-100 companies, the advance tax payments have increased by 7-8 per cent," the official said.
Cumulatively for the first two quarters till now, the advance tax collections from the Mumbai zone, which contributes over a third of the income tax collections nationally, have grown 11 per cent, the official said.
http://www.myallagents.com/Q2-advance-tax-payout-of-top-100-companies-sees-muted-growth/details.html
"For the top-100 companies, the advance tax payments have increased by 7-8 per cent," the official said.
Cumulatively for the first two quarters till now, the advance tax collections from the Mumbai zone, which contributes over a third of the income tax collections nationally, have grown 11 per cent, the official said.
http://www.myallagents.com/Q2-advance-tax-payout-of-top-100-companies-sees-muted-growth/details.html
Saturday, June 21, 2014
Invested in the securities markets to earn market risk premiums
The securities markets pay risk premiums. You have to have your money invested and at risk to be paid a risk premium.
Attempting to avoid risk or losses by jumping in and out to "time the markets" does not work. Scientific finance studies demonstrate the both amateurs and professionals are lousy at market timing.
Final Thoughts
Even though the American insurance industry was greatly influenced by Britain, the US market developed somewhat differently from that of the United Kingdom. Contributing to that was America's size, land diversity and the overwhelming desire to be independent. As America moved from a colonial outpost to an independent force, from a farming country to an industrial nation, the insurance business developed from a small number of companies to a large industry.
http://www.myallagents.com/Final-Thoughts/details.html
http://www.myallagents.com/Final-Thoughts/details.html
Friday, June 20, 2014
Business Insurance Agents
Online insurance quotes and buying insurance online is no longer a novelty. Many business insurers are online and, while buying insurance for a business on the internet is not as prevalent as buying personal auto insurance online, growing numbers of small business owners are going to online sources for their insurance. If one follows some guidelines when using online quote sites to purchase insurance, business internet insurance sites can offer premium savings
What is missing is the insurance agent or broker. Insurance professionals will tell you that they offer significant value to the insured. They will contend that the absence of an insurance professional will cost a business in the long run. Contrary to that argument is the claim that online sites offer insurance for less and can offer more quotes from more sources. Let's look at the website versus the insurance professional.
Health Care Options in Retirement
Health care for seniors can be a labyrinth of programs, eligibility restrictions, coverage limitations, and overlaps, with terms varying widely from program to program and plan to plan. In addition to federal programs such as Medicare and Medicaid, some agencies such as the Veteran's Administration offer benefits for specific constituents and many states have different programs of their own with varied eligibility requirements. Additionally, unions and trade organizations may also offer retirement health care benefits. Which of these you may qualify for will depend on your individual circumstances. In general, however, most retirees have two main health care options: Medicare and managed care.
Buying Life Insurance
1. Buying Life Insurance
Conventional wisdom says that life insurance is sold, not purchased. In other words, some people are reluctant to discuss the importance of owning life insurance, and others are simply unaware of the need to have life insurance. Although many large companies provide life insurance as part of their benefits package, this coverage may be insufficie
Who needs life insurance? If there are individuals who depend on you for financial support, or if you work at home providing your family with such services as child care, cooking, and cleaning, you need life insurance. Older couples also may need life insurance to protect a surviving spouse against the possibility of the couple's retirement savings being depleted by unexpected medical expenses. And individuals with substantial assets may need life insurance to help reduce the effects of estate taxes or to transfer wealth to future generations
The Role of Insurance in Your Financial Plan
The insurance decisions you make should be based on your family, age, and economic situation. There are many forms of insurance and, unfortunately, no one-size-fits-all policy. Life insurance, for example, is a virtual necessity if you have a spouse and children, but perhaps is less important for a single person. Disability insurance, which provides an income stream if you are unable to work, is important for everyon
Auto insurance protects you from damage to the often considerable investment in a car and/or from liability for damage or injury caused by you or someone driving your vehicle. It can also help cover expenses you or anyone in your car may incur as a result of an accident with an uninsured motorist.
Life Settlements
Mention Life Settlements and you’re bound to hear strong opinions, both positive and negative. The life settlement market has grown into a billion dollar industry in the last few years. If you're over 50 and own a term life insurance policy you no longer need, this could mean money in your pocket.
First, the UglEvery market has those who try to “game” the system. Many seniors have fallen prey to agents tempting them with an offer of free money. The senior is induced to purchase life insurance without a legitimate need for such coverage. The insured then waits two years so the policy becomes uncontestable, sells the policy, and shares the proceeds with the other parties to the transaction. This is called “stranger originated life insurance” (STOLI).
Financial planning tips for IT
Given the obvious strain on the public finances we already know that company and personal tax is set to rise next yea
2009/10 could be the year to bring forward plans to draw out retained profit, pay yourself a bonus or engineer a better trading year than you will experience in 2010/11.
Pensions provision is always an efficient way to get money from company into personal hands.
In most cases contractors can transfer virtually all of their income, tax free, into a pension although the budget has clipped the wings of the highest earners and they can now only invest £20k and be certain of higher rate tax relief.
Starting to drip feed higher amounts into a scheme now could help you to exploit depressed valuations on the equity and bond markets In particular US, emerging markets and smaller companies in general look set to prosper as the worse of the bad recessionary news is now out in the public domain. http://www.myallagents.com/Financial-planning-tips-for-IT/details.html
2009/10 could be the year to bring forward plans to draw out retained profit, pay yourself a bonus or engineer a better trading year than you will experience in 2010/11.
Pensions provision is always an efficient way to get money from company into personal hands.
In most cases contractors can transfer virtually all of their income, tax free, into a pension although the budget has clipped the wings of the highest earners and they can now only invest £20k and be certain of higher rate tax relief.
Starting to drip feed higher amounts into a scheme now could help you to exploit depressed valuations on the equity and bond markets In particular US, emerging markets and smaller companies in general look set to prosper as the worse of the bad recessionary news is now out in the public domain. http://www.myallagents.com/Financial-planning-tips-for-IT/details.html
Income Tax Return (e-filing)
E-filing is essentially another mode of filing your income tax return
In addition to the popular mode of printing and submitting your return at the income tax counters. It is a two step process:
a. Prepare your return using tax preparation software
: Enter your income tax data, such as, PAN, income, deductions, and TDS. Review your data for completeness and accuracy; and, generate your electronic return in XML format.
b.Upload your XML format return on income tax department website. Upon successful uploading, it will generate an acknowledgement form called ITR-V. If you do not use digital signatures, then you have to submit the ITR-V at the income tax counter
.http://www.myallagents.com/Income-Tax-Return-efiling/details.html
In addition to the popular mode of printing and submitting your return at the income tax counters. It is a two step process:
a. Prepare your return using tax preparation software
: Enter your income tax data, such as, PAN, income, deductions, and TDS. Review your data for completeness and accuracy; and, generate your electronic return in XML format.
b.Upload your XML format return on income tax department website. Upon successful uploading, it will generate an acknowledgement form called ITR-V. If you do not use digital signatures, then you have to submit the ITR-V at the income tax counter
.http://www.myallagents.com/Income-Tax-Return-efiling/details.html
Deadline Approaching for 2006 Refunds
Individuals have until April 15, 2010, to file an original or amended tax return for 2006 and receive a refund from that year. The IRS says it has about $1.3 billion in reserve for people who still need to file their 2006 returns.
Additionally, taxpayers had a special one-time-only tax credit available to them in 2006. It was called the telephone excise tax refund. Basically this is a tax credit available to anyone who had telephone service, whether landline or mobile, and represents a refund of excise taxes that were ruled unconstitutional. In reviewing previous atax returns for clients I have noted that some failed to request this tax credit. So as a tip to my readers, I would suggest pulling out a copy of your 2006 tax return to see if you took this credit. If you did not, you can file an amended tax return using Form 1040X to request additional money back from the government. Here's what to look for on your 2006 return: see if there's a tax credit amount showing up on
http://www.myallagents.com/Deadline-Approaching-for-2006-Refunds/details.html
Wednesday, May 5, 2010
Best Insurance Articles
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