Yes, If you are to enjoy your rights as a consumer, you need to abide by the laws of the land. Or else, you lose your right as a consumer — this is the clear message that comes across in a recent order of the apex consumer court. The case pertains to an insurance claim for … [Read more...] about Car Insurance Claim not payable if law is violated
How the NAV of ULIP policy is calculated?
ULIP plans are investing your money into the equity market. It is the same like the mutual funds, but ULIPs are providing the life cover and also linked to the insurance policy. What is Net Asset Value (NAV) of a policy? NAV of a ULIP plan is nothing but the book … [Read more...] about How the NAV of ULIP policy is calculated?
How the Proceed received from the Insurance Company is taxed?
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?
IRDA to streamline servicing of ‘orphaned’ life insurance policies
If your agent stopped servicing life insurance policy after making you buy it, there is nothing to worry. Such policies, which are ‘orphaned' due to exit of an agent from the profession after selling a policy, should be well-serviced by the insurers by allotting them to other … [Read more...] about IRDA to streamline servicing of ‘orphaned’ life insurance policies
How to prevent rejection of Health Insurance Claim?
Please follow following rules to prevent rejection of your Health Insurance Claim - 1. Read the list of coverage and exclusions in policy wordings (which comes to you with the policy). 2. Ensure that you declare all the pre-existing diseases at the time of enrolment. 3. Do … [Read more...] about How to prevent rejection of Health Insurance Claim?
How Deductibles and Co-insurance work in Health Insurance?
Excellent video tutorial on youtube explaining deductibles and how co-insurance/co-pay work in health insurance. … [Read more...] about How Deductibles and Co-insurance work in Health Insurance?
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)
IRDA Study : One out of every four people don't think that life insurance is important
One out of every four people do not think that life insurance is important, reveals an IRDA sponsored study. Salient Points of Study 1. The study also suggested that private sector and the government should work together in Public-Private Partnership (PPP) mode to enhance … [Read more...] about IRDA Study : One out of every four people don't think that life insurance is important
ING Life launches 'ING Secured Income', 'ING STAR Life' 'ING Critical Illness Riders'
ING Life Insurance has launched three new traditional products - ING Secured Income Insurance Plans, ING STAR Life and ING Critical Illness Riders. ING Secured Income Insurance Plans There are two new endowment plans available under ING Secured Income Plans - 1- Secured … [Read more...] about ING Life launches 'ING Secured Income', 'ING STAR Life' 'ING Critical Illness Riders'