Some instances have been observed by Insurance Regulatory and Development Authority (IRDA) that general public are receiving calls from individuals who claim to be representatives of IRDA and offering insurance policies of different insurance companies with various benefits (such … [Read more...] about Be aware – Please check ID Cards before giving any info to any person
News
ING Life launches child plan – 'ING Aashirvad'
ING Aashirvad is a guaranteed child life insurance plan that pays out monies and helps you plan for the career and marriage of your children. In this plan the parent and child are the life insured/s during the policy term and once your child's future is adequately secured through … [Read more...] about ING Life launches child plan – 'ING Aashirvad'
IRDA bans universal life plans from 23rd October
The Insurance Regulatory and Development Authority (Irda) bans Universal Life Plans(ULPs) from 23rd October’2010. What is a universal life plan? Universal Life is a life insurance plan where premiums are deposited into a fund and charges for insurance and other expenses are … [Read more...] about IRDA bans universal life plans from 23rd October
Non-acceptance of Third Party Payments for mutual fund subscriptions effective November 15, 2010
As per guidelines issued by the Association of Mutual Funds in India (AMFI), mutual funds are required to put in place strong processes by November 15, 2010 to ensure that Third-Party payment instruments are not used for mutual fund subscriptions. When payment is made from a … [Read more...] about Non-acceptance of Third Party Payments for mutual fund subscriptions effective November 15, 2010
IRDA issues new ULIP guidelines, raises lock in period to 5 years
IRDA tightened the norms for ULIP schemes by raising the lock-in period and raising the insurance cover on them. IRDA also bought in new guidelines like sale of insurance policies by unlicensed personnel and several other malpractices. Lock in period increased to five years - … [Read more...] about IRDA issues new ULIP guidelines, raises lock in period to 5 years