The Union Cabinet approves FDI hike in Insurance Laws (Amendment) Bill, 2008 from 26% to 49%. Insurance Laws (Amendment) Bill, 2008 Following are the major changes approved by Union Cabinet - 1- Raises Foreign Direct Investment limit in the insurance sector to 49% from … [Read more...] about Union Cabinet approves FDI hike to 49% in Insurance Bill
Life Insurance
Bharti-AXA Life's Power Kid Child Plan : Review
Salient features of Power Kid Plan Bharti AXA Life Power Kid Insurance Plan is a unit linked plan Minimum Entry Age: 21 years Maximum Entry Age: 50 years Maturity Age: 70 Years (for 20 years term) Policy Term: 15 and 20 years Minimum Premium: Rs 26,000 Maturity … [Read more...] about Bharti-AXA Life's Power Kid Child Plan : Review
IRDA : Guidelines on Servicing of Orphan Policies
Insurance agents play a key role in conservation of insurance business by rendering valuable post sale service to policyholders. Whenever an agent discontinues his agency or is terminated by the Insurance Company, the policies secured by the agent are left behind orphaned. In … [Read more...] about IRDA : Guidelines on Servicing of Orphan Policies
LIC's Jeevan Vaibhav Plan – Review
LIC Jeevan Vaibhav is a single premium payment plan which offers a guaranteed maturity amount plus Loyalty additions (if any) at the time of maturity. The insurance cover would be 5 times of the premium amount. Basic Features of LIC Jeevan Vaibhav 1- Person between age … [Read more...] about LIC's Jeevan Vaibhav Plan – Review
How to file an Insurance Claim Complaint to Consumer Court?
If within 2 years of buying the product and services, you are not happy with the services of the insurance company and already lodge a complaint to Insurer and IRDA and if you do not get a satisfactory response from IRDA or Insurance company or Insurance Ombudsmen, you may … [Read more...] about How to file an Insurance Claim Complaint to Consumer Court?
How to file a Complaint to Insurance Ombudsman?
If within 30 days of lodging the complaint with the IRDA, if you do not get a satisfactory response from IRDA or Insurance company and you may approach Insurance Ombudsmen. Important Points : Before filing complaint in Ombudsman 1- The Insurance Ombudsman will not accept your … [Read more...] about How to file a Complaint to Insurance Ombudsman?
How to file a Complaint to IRDA for an Insurance Claim?
If within 30 days of lodging the complaint with the insurance company, if you do not get a satisfactory response from insurance company then you may approach IRDA. Policyholder/Insured needs to send his/her complaints themselves or the claimants, otherwise the complaints will … [Read more...] about How to file a Complaint to IRDA for an Insurance Claim?
How to file an Appeal against Insurance Claim Denial?
If Your Insurance Claim is Denied, you can file an appeal against the insurance company, here is the procedure how you can do that - Initial Steps 1- First get written claim denials letter from insurance company. 2- Check your policy documents, whether the claim was … [Read more...] about How to file an Appeal against Insurance Claim Denial?
What to do…when policyholder goes missing…
There are situations when a person is unheard of for several years. What happens to such a person's life insurance policies? Does the spouse or nominee or assignee pay the premiums and keep the missing person's life policy in force? It is common knowledge that if premiums … [Read more...] about What to do…when policyholder goes missing…
How much life insurance cover do you need?
How much Life Insurance do you need? Everyone should have enough life insurance coverage to cover all the liabilities as well as unexpected future costs. Whatever life insurance plan you select, the main thing is to make sure you have coverage in the unexpected event. You … [Read more...] about How much life insurance cover do you need?