Markets hoping for a strong & stable government

ET Now: IMF growth projections for India seem fairly upbeaten. Perhaps some would say that is what fueled the rally yesterday in the equity markets. 5.4% for FY14, 6.4% for FY15. What is your stance on these projections?Killol Pandya: I will not really be able to see so far into the future, especially in the context of elections. Our best hope is that we get a strong central government. From that perspective it does not really matter which party comes into power. Of course the markets appeared to be strongly siding with one of the two factions, but from the political sense a strong government at the centre will do us well. 
http://www.myallagents.com/Markets-hoping-for-a-strong-and-stable-government-Killol-Pandya-LIC-Nomura-Mutual-Fund/details.html

How four women mutual fund managers are defying odds & breaking through

There are 52 mutual funds, and another 51 life and non-life insurance companies, registered in India. Both sets generate dozens of investment products for the Indian market and manage thousands of crores. Men manage most of these products  .http://www.myallagents.com/How-four-women-mutual-fund-managers-are-defying-odds-and-breaking-through/details.html

SKDRDP tops in small ticket LIC policy numbers

MANGALORE: Dharmasthala-based Shri Kshethra Dharmasthala Rural Development Project (SKDRDP), the brainchild of D Veerendra Heggade, has become the leader in implementing Jeevan Madhur LIC scheme by insuring 9.1 lakh poor persons since 2008. As a corporate agent of LIC, SKDRDP stands first in the country with respect to number of policies and the first premium paid in this small ticket policy. Y Vishwanath Gowd, senior divisional manager, LIC OF India, divisional office, Udupi, said SKDRDP with this mission has covered insurance of 9.1 lakh policies with more than Rs100 crore first premium.   http://www.myallagents.com/SKDRDP-tops-in-small-ticket-LIC-policy-numbers/details.html

Is it time to upgrade your life cover? Know what's best for you

Thanks to the growing awareness about the importance of life insurance cover, many individuals, especially the young executive types, buy a term life insurance as soon as they start their career. However, the trouble is: typically these covers would be very small, mostly Rs 10 lakh or below , say insurance advisors. This would inevitably lead to some complications in future. When the person gets married, have kids or takes a huge loan, he or she would need a larger cover. However, buying a cover at that time may not be an easy task.  
http://www.myallagents.com/Is-it-time-to-upgrade-your-life-cover-Know-whats-best-for-you/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.
The application, Chola MS Wellness, is made available on Android supported smart phones and it would offer policy details like coverage, sum insured and renewal reminder and details of the hospital network with geo tagging on Google Maps. The application would also offer health tracking features like Pedometer, BMI Calculator and Blood Sugar Tracker.  
http://www.myallagents.com/Chola-MS-launches-Android-app-for-health-insurance-customers/details.html

Primer: All you wanted to know about e-insurance accounts

IRDA wants all its customers to move to a paperless world. The introduction of insurance repository system (IRS) is one such part of this initiative. An account called e-insuranceaccount will be available for all customers who hold insurance policies. This is similar to demat account which was introduced for eliminating physical storage of stocks or mutual funds.   http://www.myallagents.com/Primer-All-you-wanted-to-know-about-einsurance-accounts/details.html

Quations & Answers on Lic India

As name suggests this rider, waives payment of future premiums for a specific term, subject to certain conditions.

A Waiver of Premium rider opted along with a children’s plan ensures the policy stays in force to accumulate wealth for the child’s future, and earns returns or benefits on the investment made in the policy. So even in the event of any death or disability, your policy is taken care of. It works its way towards building a corpus for your child’s education or marriage, making it available at the time when it is actually required. Most children’s plans offered by insurance companies come with an inbuilt waiver of premium rider, if not they, could be individually opted for too. 

http://www.myallagents.com/Quations-and-Answers-on-Lic-India/details.html 

LIC buys 4.66% stake in BHEL for Rs 1,889 crore

NEW DELHI: Life Insurance Corporation has bought sharesworth Rs 1,889 crore, about 4.66 per cent stake, in state-owned power equipment maker BHEL through an openmarket transaction LIC has purchased 11.41 crore shares in BHEL at a price of Rs 165.55 apiece through a block deal on the BSEThe Empowered Group of Ministers, headed by Finance Minister P Chidambaram, last week decided the timing and mode of disinvestment in BHEL.  http://www.myallagents.com/LIC-buys-466-stake-in-BHEL-for-Rs-1889-crore/details.html

10 things to look for in your insurance policy

Life insurance is the only financial tool which offers the triple advantage of risk coverage, long term savings and tax benefit. It offers financial protection to an individual after taking into account the present and future value of his assets and liabilities. However, while the awareness and acceptance of insurance in India is growing, consumers need to develop a better understanding of the products they buy. There are a number of things that each of your life insurance policies should spell out and include, and the document is a complete guide to exactly what your insurance contract covers. This is why it is always important to check a policy very carefully when you first receive it, to make sure that everything you requested is written down in the policy. Mentioned below are ten key parameters to weigh once you received the policy documents.  http://www.myallagents.com/10-things-to-look-for-in-your-insurance-policy/details.html

LIC online term plan: How is it different?

Pankaaj Maalde, Head-Financial Planning, Apna Paisa. It’s rightly said “It’s never too late to start a new beginning”. At last LIC, one of the largest players in life insurance business, launches online term plan which will not only increase awareness but also increase the competition in the market. LIC move also will force other players, who still have not launched it, to launch online term plan soon. Even premium of LIC online term plans is higher compared to peers it will help people to understand the need of life insurance and also reveal the facts that how the investment products are bundled. This will help them to separate insurance and investment need in future.   http://www.myallagents.com/LIC-online-term-plan-How-is-it-different/details.html

 

Queries of Life Insurance

I have a LIC policy in my name that is nearing maturity next month, the premiums were all paid by my mother in India. I am US citizen and hold a valid NRE account with SBI. Can LIC submit the money upon maturity into my NRE account, or will i have to open an NRO account?

This is not a concern of LIC but according to the banking norms, all income within India needs to be credited only in an NRO Account of an NRI and only income which is earned outside India can be credited in NRE Account, which is freely repatriable. Money of NRO Account is also repatriable but after the payment of the applicable taxes, if any.

Hence, you would have to contact LIC but they would provide you with a cheque of the maturity amount favouring your name and the sae needs to be credited only in an NRO account. 

http://www.myallagents.com/Queries-of-Life-Insurance/details.html 

LIC FAQ

hi, this is kumar, took lic jeevan anand policy for a SA of 1500000 with a premium of 6450/month for a period of 21 yrs. i just paid my first 3 premiums, but now i'm in dilemma whether to continue or discontinue at this junction without waiting till surrender value? Anyhow i don't want to take risk investing in Eq/shares, but in MF. please let me out of this confusion LIC Jeevan Anand is a good savings option and do not exit it just because you are confused. This is a plan where you get guaranteed returns and not to mention your capital (all premiums) is also secured. It is not good to compare a guaranteed return insurance plan (which gives tax benefits also) with an equity product like stocks, shares and mutual funds which doesn’t give any guarantee of capital and returns.http://www.myallagents.com/LIC-FAQ/details.html

Uday Kotak: Government should list LIC; move from NREGA to KAREGA

NEW DELHI: Advocating the need to ensure better fiscal management, Uday Kotak, the Vice-chairman and Managing Director of Kotak Mahindra Bank on Tuesday suggested a big-ticket measure of listing the Life InsuranceCorporation of India
(LIC).http://www.myallagents.com/Uday-Kotak-Government-should-list-LIC-move-from-NREGA-to-KAREGA/details.html

LIC trims stake in Infosys to 3.25 percent; garners Rs 850 crore

LIC, the biggest institutional investor in the stock market, held 3.71 percent stake in Infosys during the October-December quarter, which has fallen to 3.25 percent as of March 31, 201

The state-run firm has been reducing its stake in Infosys since June quarter. It held 6.72 percent stake in the country's second largest software services exporter at the end of June 30, 2012, as per the latest data available with the stock exchanges. 

 http://www.myallagents.com/LIC-trims-stake-in-Infosys-to-325-percent-garners-Rs-850-crore/details.html 

Seek details from insurance agents

You walk into a bank to invest some surplus money in a fixed deposit. The relationship manager offers you another ‘fixed deposit’ linked to a security and gives tax-free interest. Should you go for it? No, because no bank deposit gives tax-free interest and you are being offered an investment-relatedinsurance policy 
http://www.myallagents.com/Seek-details-from-insurance-agents/details.html 

Are private insurance companies safe for investment?

People always think twice before investing in a private insurance company . They have a doubt whether their investment will be safe with private insurers in India or not. With globalization in the year 2000, there has been a surge of private insurance  companies in the Indian economy. But even now the attitude of the investors’ is skeptical. The private insurers are relatively new in the country and do not have a past record, and thus people often doubt their credibility 
http://www.myallagents.com/Are-private-insurance-companies-safe-for-investment/details.html  

Should I buy an Insurance policy from a Public Sector Company or Private Sector Company?

It is a matter of choice for each individual customer. Private sector companies are perceived to much quicker in delivery, but Public Sector companies are fast catching up on this front. Factors like trust, speed of delivery and claims efficiency should be kept in mind while making your choice  
.http://www.myallagents.com/Should-I-buy-an-Insurance-policy-from-a-Public-Sector-Company-or-Private-Sector-Compa

We expect a growth of 20-25 per cent this year: LIC chairman DK Mehrotra

Life Insurance Corporation of India (LIC), which has an investment corpus of Rs 12 lakh crore, doesn’t act on anybody’s behalf while making investments, says its current-in-charge chairman DK Mehrotra in an interview to George Mathew

How was the last fiscal for you?

Our performance was impacted because of the general slowdown. The market was also volatile and retail investors were holding back. Our premium collection fell last year but our overall collection was more or less steady. Customers have continued with old policies. 

http://www.myallagents.com/We-expect-a-growth-of-2025-per-cent-this-year-LIC-chairman-DK-Mehrotra/details.html 

Irda for govt-backed health insurance scheme

The Insurance Regulatory and Development Authority (Irda) has strongly come out in support of a government-backed health insurance policy, which is in the works with an aim to provide health cover to a large population. “Why not we have a state-backed health insurance coverage for people when practically all the governments in the world have similar coverage for their citizens,” Irda chairman J Hari Narayan said. He was referring to a meeting of a group of experts in the Planning Commission today on the new health insurance scheme  .http://www.myallagents.com/Irda-for-govtbacked-health-insurance-scheme/details.html

Uncovered

Twelve years ago India’s insurance sector, till then a preserve of government-owned companies, was thro­wn open to the private sector. In these years India has emerged as the world’s 11th largest insurance market in terms of premium, and has drawn global giants 
.http://www.myallagents.com/Uncovered/details.html