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
Please read the revised article (as per IRDAI Surveyor Regulation 2015) - Here Who are Insurance Surveyors and Loss Assessor? Surveyors are professionals who assess the loss or damage and serve as a link between the insurer and the insured. As per Insurance Act all the claims … [Read more...] about How to become Insurance Surveyor and Loss Assessor (SLA)?
Bupa Health Pulse 2011 has released "BUPA International Healthcare Survey". BUPA International Healthcare Survey is the second annual international survey commissioned by Bupa. Between 22 April and 23 May 2011, the international healthcare group surveyed over 13,000 people from … [Read more...] about BUPA International Healthcare Survey : Bupa Health Pulse 2011
IRDA has laid down draft framework for asset liability management (ALM) and stress testing to guard investment activities of insurance companies against fall in the equity market and movement in the interest rate market. Irda has asked insurers to submit investment details in … [Read more...] about Irda issues draft ALM stress testing norms for insurers
Insurance policies can be modified by using a term called endorsing a policy. A policy endorsement can be done to modify coverage’s, add or delete insured items from a policy and modifies a current policy without completely rewriting it. When an insurance policy is endorsed the … [Read more...] about What is an “Endorsement”?
On 11th February 2011, IRDA issued circular to Insurers for new guidelines on Individual Agents, which will come into effect from 1st July, 2011. What are new changes? 1- Relatives of employees of Insurance Companies not to be engaged as Agents Relatives of employees of … [Read more...] about New Norms for Individual Insurance Agents from 1st July 2011
IFCI is launched Tier-2 bonds from 1 June 2011 on private placement basis. IFCI to offer 1,50,000 subordinated,Unsecured,Redeemable,Non convertible bonds series-1 of Rs.10,000/- each aggregating to Rs. 150 Crore with option to retain over subscription. Important points to keep … [Read more...] about IFCI – Tier II Subordinated Bonds
What is an Annuity? An annuity is a fixed sum of money paid at regular intervals. “Annuity” comes from the Latin for “year”. In the context of life insurance, it is a contract between you and an insurance company under which the insurance company pays you money for a stipulated … [Read more...] about What is an Annuity?
What is the Free Look Period? The policyholder has 15 days from the date of receipt of the policy to review the terms and conditions of the policy. In case he disagrees to any of the terms and conditions, then he can exercise the option to return the policy, stating the reasons … [Read more...] about What is Free Look Period?
Just while submitting your claims, write your mobile number on the top of the application forms, yes that’s it. You will get a sms on your mobile number and/or an email, about the status of your claim. Where do I have to write my mobile no or email address? You have to … [Read more...] about How to get EPF claim status via sms/email?