The Insurance Regulatory and Development Authority (IRDA) via new circular (IRDA/HLTH/MISC/CIR/216/09/2011) directed, all life and non-life insurance companies, not to reject policyholders' claims due to any delay in submission of documents while filing a claim if the delay is … [Read more...] about IRDA – Claims can't be rejected for paperwork delay
Archives for September 2011
How to file a Claim at Motor Accident Claims Tribunal (MACT)?
What is MACT? Motor Accidents Claims Tribunal (MACT) deals with matters related to compensation of motor accidents victims or their next of kin .The Tribunal deal with claims relating to loss of life/property and injury cases resulting from Motor Accidents. Who can report to … [Read more...] about How to file a Claim at Motor Accident Claims Tribunal (MACT)?
Hit And Run Car Accident : How to Claim Injury Compensation?
What is "hit and run motor accident"? As per Sec 161 of Motor Vehicle Act, “hit and run motor accident" means an accident arising out of the use of a motor vehicle or motor vehicles the identity whereof cannot be ascertained in spite of reasonable efforts for the … [Read more...] about Hit And Run Car Accident : How to Claim Injury Compensation?
Bharti AXA Life launches Triple Benefit Critical Illness Plan
Bharti AXA Life Insurance has launched triple benefit critical illness plan - ‘Bharti AXA Life Triple Health Insurance Plan’. The policy includes 13 critical illnesses that are split into 3 groups. Should one have the misfor tune of being diagnosed with any critical illness … [Read more...] about Bharti AXA Life launches Triple Benefit Critical Illness Plan
Comparison between LIC’s 'Jeevan Arogya' SBI Life’s 'Hospital Cash'
Benefits Both the plans are fixed benefit plans but LIC’s Jeevan Arogya gives more benifts then SBI Life’s Hospital Cash. Benefits offered under LIC’s Jeevan Arogya are 1. Hospital cash benefit (HCB) 2. Major Surgical Benefit (MSB) 3. Day Care Procedure … [Read more...] about Comparison between LIC’s 'Jeevan Arogya' SBI Life’s 'Hospital Cash'
IRDA modifies persistency norms for Life Insurance Agents
Insurance regulator IRDA had released modifications to earlier released persistency norms (11th February, 2011) for life insurance agents. New modifications has been issued keeping in view the objective of ensuring higher levels of persistency of life insurance policies as also … [Read more...] about IRDA modifies persistency norms for Life Insurance Agents
IRDA relaxes the definition of 'Relatives' for Insurance Agents
IRDA has relaxed the definition of 'Relatives' for the employees of Insurance Companies, who are looking to engage as Agents. Now as per new IRDA circular, “The term relatives is re-defined as spouse, dependent children or dependent step children whether residing with the … [Read more...] about IRDA relaxes the definition of 'Relatives' for Insurance Agents
Now renew your bike insurance online!
It’s very common for a bike user to forget to renew his motorcycle insurance and sometimes not even realise it unless he gets a reminder from the insurance company or gets fined by traffic cops. Now motorcycle owners can also renew their policy online in just a few easy steps. … [Read more...] about Now renew your bike insurance online!
Health Insurance Portability : Simple 5 Steps to port your policy to new insurer
Step 1 A policyholder, who wants to port his policy to another insurance company, shall have to approach to new insurance company at least 45 days before the premium renewal date of his/her existing policy with old insurer, to enable the new company consider his application. … [Read more...] about Health Insurance Portability : Simple 5 Steps to port your policy to new insurer
LIC introduces Electronic Funds Transfer for all payments from 1st Oct
In order to ensure faster credit of policy monies with greater security and privacy, from 1st October'2011, LIC of India will be crediting all payments (i.e. Survival Benefit, Maturity, Loan, Surrenders, payments of Pension & Group Schemes etc., ) directly to the Bank Account of … [Read more...] about LIC introduces Electronic Funds Transfer for all payments from 1st Oct