Life Insurance Proceeds Section 10(10D) specifies that any sum received under a Life Insurance policy is exempt from tax. Hence maturity proceeds (including the sum allocated by way of bonus) received from an endowment plan, from a term plan with return of premium feature, from … [Read more...] about How the Proceed received from the Insurance Company is taxed?
Top 5 Online Term Insurance Plans on Claim Settlement Ratio (2012)
*Data Source - Annual Report IRDA What is Claim Settlement Ratio? Claim Settlement Ratio (CSR) gives us an idea about the claim solving ability of the insurance company. If claims are intimated and the insurance company solves those, claim settlement ratio would be good. In … [Read more...] about Top 5 Online Term Insurance Plans on Claim Settlement Ratio (2012)
Top 5 Online Term Insurance Plans on Policy Coverage (2012)
1- Kotak e-Preferred (a) Who can buy - Any person aged between 18 years to 65 years (b) Policy Term - 5 - 30 years (c) Minimum Sum Insured -25 lacs (d) Maximum Sum Insured -Unlimited (Subject to underwriting) (e) Riders -– No Riders Available (f) Life cover Step-Up/ Step … [Read more...] about Top 5 Online Term Insurance Plans on Policy Coverage (2012)
Why online term insurance claims got rejected?
Rajat bought up online term insurance plan from private insurer to cover the home loan. Rohit deposited the first premium, but unfortunately Rohit died in road accident. The insurance company rejected the claim, saying that Rajat had the past habit of consuming tobacco, … [Read more...] about Why online term insurance claims got rejected?
What is an Assignment?
Assignment is a mean whereby the beneficial interest, right and title under a insurance policy get transferred from the assignor to the assignee. 'Assignor' is the policyholder, who transfers the title and 'Assignee' is the person, who derives the title from the assignor. Upon … [Read more...] about What is an Assignment?
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?
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'
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
What you need to know about Health Insurance Portability?
What does ‘Health Insurance Portability’ mean? Health Insurance policy holders, who are not satisfied with the services of the present provider, will be able to switch/change their service provider without losing the basic coverage of health insurance. As per IRDA portability … [Read more...] about What you need to know about Health Insurance Portability?