Until 9/11, most standard insurance policies used to provide protection against the risk of terrorism automatically. However, after September 11, 2001, premiums for terrorism coverage have increased. In India, effective from 1st April 2002, terrorism was made a separate add-on … [Read more...] about Does my insurance policy cover Terrorism?
What is an “Endorsement”?
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”?
Do we need to exit ULIP in three years/five years as suggested by agent?
We had received lots of queries, now and then on the mis-sold ULIPs. We all have bought ULIP policies on the inflated return figure and mis-information given to us by the insurance agent. Now that insurance agent is enjoying with the big 35-40% commission, which he would have had … [Read more...] about Do we need to exit ULIP in three years/five years as suggested by agent?
Birla Sun Life launches Term Plans – Protector Protector Plus
Birla Sun Life has launched two term plans - BSLI Protector Plan and BSLI Protector Plus Plan. These term plans has an option for insured to hike their sum assured over a period. Customers, who opt for an increase in sum assured, will have the option of increasing it by 5 per … [Read more...] about Birla Sun Life launches Term Plans – Protector Protector Plus
What is 'Excess' or 'Deductible'?
What is an ‘Excess’? An excess is the amount of expenses that must be paid out of pocket before an insurer will cover any expenses, if you decide to claim on your policy. If you claim on your policy your insurance company will be paying you out, so basically it's a way of them … [Read more...] about What is 'Excess' or 'Deductible'?
Bharti AXA Life launches – 'Monthly Income Plan'
Bharti AXA Life has launched money-back plan - 'Bharti AXA Life Monthly Income Plan'. Sailent Features of 'Bharti AXA Life - MIP' - 1- Guaranteed Monthly Income Guaranteed Monthly Income after the completion of the Premium Payment Term, until maturity, provided the policy is … [Read more...] about Bharti AXA Life launches – 'Monthly Income Plan'
SBI Life launches Variable Insurance plan- Flexi Smart Insurance
SBI Life has launched a variable plan - 'Flexi Smart', which aims to provide stable returns to investors. Flexi Smart Plan would give investors an option to change the sum assured and flexibility of premium payment and interim and additional interest rates. Salient Features of … [Read more...] about SBI Life launches Variable Insurance plan- Flexi Smart Insurance
Tata AIG Life launches IInd 'InvestAssure Apex Supreme Plan'
Tata AIG Life Insurance has launched the second series of its 'Tata AIG Life Insurance InvestAssure Apex Supreme ULIP Plan'. Tata AIG Life Insurance InvestAssure Apex Supreme is a 5-year limited-pay plan with a policy term of 10 years and comes with the benefit of Guaranteed … [Read more...] about Tata AIG Life launches IInd 'InvestAssure Apex Supreme Plan'
How to transfer car insurance of Second Hand Car?
When an individual (seller), in whose favour the certificate of insurance of the vehicle has been issued, transfers the ownership of the vehicle to another person's name (new owner or buyer), then as per Sec 157 of Motor Vehicles Act 1988, the certificate of insurance and the … [Read more...] about How to transfer car insurance of Second Hand Car?
Top 5 Health Insurance Plans for Senior Citizens (2011)
Top 5 Health Insurance Plans for Senior Citizens on the basis of Coverage S.No. Plan Name Entry Age (years) Renewal Allowed Max. Sum Insured (Rs. lakh) Co-Pay 1. Max Bupa's Heart Beat till age 80 Life Long Platinum Policy - Sum Insured … [Read more...] about Top 5 Health Insurance Plans for Senior Citizens (2011)