LIC sells shares worth Rs 8,800 cr in 17 Sensex companies

State-run insurance giant LIC has lowered its exposure in 17 blue-chip firms, with sale of shares worth an estimated amount of over Rs 8,800 crore, in the quarter ended March 31, 2013. Life Insurance Corporation of India's holding increased in nine Sensex companies during the January-March 2013 quarter, showed an analysis of the shareholding pattern of Sensex constituents.  http://www.myallagents.com/LIC-sells-shares-worth-Rs-8800-cr-in-17-Sensex-companies/details.html

Travel insurance: Handy during natural calamities

After any kind of natural calamity, insurance companies usually get jittery on the huge amount of claims they may have to pay. But following the recent floods in Uttarakhand, in which thousands lost their lives, general insurance companies have hardly seen any claims related to medical emergencies. This is because Indians don't believe in taking travel insurance, especially if they are travelling within the country. Even when travelling overseas, most Indian travellers take insurance only if it is mandatory. 
www.myallagents.com/Travel-insurance-Handy-during-natural-calamities/details.html

United India In Association With Agriculture Insurance Company Launches Website For Crop Insurance

Mr. Milind Kharat, Chairman cum Managing Director of United India Assurance and Mr. P.J. Joseph, Chairman of Agriculture Insurance Company (AIC) announced the launch of internet website that will enable issuance of Crop Insurance policies of AIC. This initiative is a part of Financial Inclusion Programme undertaken by United India Assurance Company Ltd. This scheme will also benefit the farmers who do not have easy access to the offices of insurance companies

http://www.myallagents.com/United-India-In-Association-With-Agriculture-Insurance-Company-Launches-Website-For-Crop-Insurance/details.html 

Need to wait and watch, if banks want to become brokers: Insurers

While the Insurance Regulatory and Development Authority (Irda) has allowed banks to become insurance brokers, insurance companies said it still needed to be seen whether this would happen. “It is a positive step, especially for non-bank led companies, since it has been pending for a long time. However, we will have to see, over a period of time, if banks would be interested, and whether RBI would approve. Only after this, would we see an open architecture of bancassurance,” said Deepak Mittal, managing director & chief executive officer, Edelweiss Tokio Life Insurance.  http://www.myallagents.com/Need-to-wait-and-watch-if-banks-want-to-become-brokers-Insurers/details.htm

 

Birla Sun Life Launches Vision LifeSecure Life Insurance Plan

Mr. Jayant Dua, Managing Director and Chief Executive Officer of Birla Sun Life Insurance Company, announced the launch of Vision LifeSecure Plan, which is a combination of savings and complete financial protection plan.  This plan offers a combination of periodical bonuses throughout the policy term and a life insurance benefit until a person attains the age of 100 years. He further added that, this plan is developed keeping in mind the fact that overall life expectancy across age group has gone up and the average prolonged existence per person is improving.  http://www.myallagents.com/Birla-Sun-Life-Launches-Vision-LifeSecure-Life-Insurance-Plan/details.html

Ways to get more from your health insurance

If you have been running from pillar to post to make your health insurance claims, you must be heaving a sigh of relief. The new health insurance regulations, effective from October this year, have made it easier for policyholders to claim for expenses which arise from hospitalisation or treatment. To top it, insurance companies are going out of the way to make the claims process simple and easy for individuals with minimum documentation and a quicker turn-around time.  ttp://www.myallagents.com/Ways-to-get-more-from-your-health-insurance/details.html

What are the different types of health insurance?

Health Maintenance Organizations (HMOs) and Exclusive Provider Organizations (EPOs)

HMOs and EPOs may limit coverage to providers insid e their networks. A network is a list of doctors, hospitals, and other health care providers that provide medical care to members of a specific health plan. If you use a doctor or facility that isn't in the HMO’s network, you may have to pay the full cost of the services provided
dhttp://www.myallagents.com/What-are-the-different-types-of-health-insurance/details.html 

Things you should know about your e-insurance account

A new facility introduced by the Irda allows you to hold all insurance policies in a single account through an e-insurance account. As in the case of a demat account, the customer can make modifications in the policy and view all his live policies, as well as the history of past transactions, at one glance with the help of this facility.  Here are things you should know about an e-insurance account:  www.myallagents.com/Things-you-should-know-about-your-einsurance-account/details.html

AUM of life insurers may treble to $ 1 trillion by 2020: Life Insurance Council

HYDERABAD: Assets under management (AUM) of life insurers will almost treble to USD 1 trillion (nearly Rs 60 lakh crore) by 2020 from the current Rs 19.4 lakh crore, according to projections by the Life Insurance Council.   Life Insurance Council Secretary General V Manickam said projections were made on the basis of growth in GDP and household savings over the next few years.   http://www.myallagents.com/AUM-of-life-insurers-may-treble-to-1-trillion-by-2020-Life-Insurance-Council/details.htm

What are the different types of health insurance?

Different types of health insurance plans meet different needs. When you compare options, it's important to understand how they are structured.

Health Maintenance Organizations (HMOs) and Exclusive Provider Organizations (EPOs)

HMOs and EPOs may limit coverage to providers inside their networks. A network is a list of doctors, hospitals, and other health care providers that provide medical care to members of a specific health plan. If you use a doctor or facility that isn't in the HMO’s network, you may have to pay the full cost of the services provided.

HMO members usually have a primary care doctor and mu
http://www.myallagents.com/What-are-the-different-types-of-health-insurance/details.html

Ways to get more from your health insurance

If you have been running from pillar to post to make your health insurance claims, you must be heaving a sigh of relief. The new health insurance regulations, effective from October this year, have made it easier for policyholders to claim for expenses which arise from hospitalisation or treatment. To top it, insurance companies are going out of the way to make the claims process simple and easy for individuals with minimum documentation and a quicker turn-around time.  http://www.myallagents.com/Ways-to-get-more-from-your-health-insurance/details.html

LIC eyes distribution tie-up with Postal Department

HYDERABAD, NOV 5:   Life Insurance Corporation of India is in favour of having a distribution tie-up with the Indian Postal Department, which has plans of its own in the insurance space. The Government has launched an initiative to pave the way for over 1.5 lakh post offices in the country to offer full-fledged banking and insurance services. Postal Life Insurance is also setting up a full-fledged investment division for generating optimal return  http://www.myallagents.com/LIC-eyes-distribution-tieup-with-Postal-Department/details.html

Things to note while taking life insurance premiums

Insurance plans have traditionally been a very popular tax saving tool considered by many people. Almost 70 percent of the overall insurance related products are sold in the quarter from January to March. While insurance plans do offer tax benefits up to Rs 1 lakh under section 80c of the income tax act, new change in rules and regulations especially with the implementation of Direct Taxes Code (DTC) means one needs to be careful while selecting any insurance product simply because of its tax related benefits. Here are some things to note while taking life insurance premiums for tax saving. Not all Insurance Payments are Tax Free:  http://www.myallagents.com/Things-to-note-while-taking-life-insurance-premiums/details.html

How good is online insurance?

nternet is the buzz word these days. It is the virtual world where one can shop, meet people, find a job, play games and what not! Indians are one of the largest users of Facebook; we are also witnessing a ferocious growth of e-commerce market which is active with mergers and acquisitions. These are some credentials that the internet can boast about. To add further to it, even banking has taken the internet way and so have the insurers. As insurers, from the initial baby steps with only simple term products, the industry is now exploring the online market for slightly more complex endowment products and a variety of other products with a combination of riders. All this is available at just few clicks. 
http://www.myallagents.com/How-good-is-online-insurance/details.html   

Chola MS launches Android app for health insurance customers

Cholamandalam MS General Insurance Company has announced launch of a mobile application for its health insurance customers, to offer health benefits and access to the network of hospitals offering cashless treatment facility to the customers 
.http://www.myallagents.com/Chola-MS-launches-Android-app-for-health-insurance-customers/details.html 

ICICI Prudential Life launches new product

MUMBAI: Private life insurer, ICICI Prudential Life Insurance today launched a unit-linked insurance product 'ICICI Pru Guaranteed Wealth Protector', a company release said.  This unit-linked product will allow customers to protect their capital on maturity and have a potential for upside through an exposure to equities, it added.   http://www.myallagents.com/ICICI-Prudential-Life-launches-new-product/details.html

Insurance policies designed for women

Life insurance is supposed to protect income. If something untoward happens to the policyholder, the insurance policy provides money to replace his (or her) income. Therefore, an insurance company will sell you a large term cover only after checking your income profile and tax returns. Even financial planners say there is no need to buy insurance for a person who does not earn. But Vishwa Raja begs to differ.   http://www.myallagents.com/Insurance-policies-designed-for-women/details.html

Travel And Marine Insurance All Set To Rise With Rupee Depreciation

With dollar appreciating by around 20% against the rupee, general insurance companies have obtained approval of market regulator Insurance Regulatory and Development Authority to raise the premium amount on travel insurance. Industry experts believe that rise in premium amount could be over 10%, which is in proportion to rise in the claim cost.  http://www.myallagents.com/Travel-And-Marine-Insurance-All-Set-To-Rise-With-Rupee-Depreciation/details.html

Small Business Group Health Insurance

What is Group Health Insurance ?
Group health insurance is employer-sponsored health coverage for business owners, employees and often for dependents.
A majority of Americans have group health coverage through their own or a family member's employer-sponsored group plan. Employers and employees can share costs and there are special tax incentives available to businesses that provide group health insurance
http://www.myallagents.com/Small-Business-Group-Health-Insurance/details.html

Insurance Giant Scraps Its Existing 14 Policies To Confirm To New Regulations

With regard to compliance of new regulations implemented by market regulator Insurance Regulatory and Development Authority (IRDA), which aims at making insurance policies more customers centric, insurance giant Life Insurance Corporation of India scrapped / will scrape 14 of its existing policies. These policies include Jeevan Mitra, Anmol Jeevan, Convertible Term Assurance Policies, Children Deferred Endowment Assurance, Jeevan Paramukh Plan, LIC’s Bima Account and Jeevan Nidhi. Other polices that are expected to be scrapped are Jeevan Aastha, Market Plus I, Jeevan Nischay and Jeevan Varsha.  http://www.myallagents.com/Insurance-Giant-Scraps-Its-Existing-14-Policies-To-Confirm-To-New-Regulations/details.html