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

Soon, share electronic medical record with insurers

Electronic Medical Record (EMR) which would enable healthcare providers to have a coded intergrated health care system has been a process mooted by the Ministry of Health and Family Welfare.

With EMR being in place, all medical records of customers will be available in an electronic format. However, sharing of this data with insurance companies could still be some time away 
.http://www.myallagents.com/Soon-share-electronic-medical-record-with-insurers/details.html  

Even top guns fall victim to dubious insurance policies

If you thought you are among the few financially ill-informed, who is being sold insurance policies or mutual funds with dubious sales pitches, you can take heart from the fact that even some of the top guns at the finance ministry have also fallen victim to such practices, at least before they walked into the North Block.  
http://www.myallagents.com/Even-top-guns-fall-victim-to-dubious-insurance-policies/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

Q2 advance tax payout of top 100 companies sees muted growth

UMBAI: In line with macro environment, the advance tax collections from the top-100 corporates from the financial capital showed a muted growth for the September quarter, with the outgoes increasing by only up to 8 per cent, a senior official said today.
"For the top-100 companies, the advance tax payments have increased by 7-8 per cent," the official said.
Cumulatively for the first two quarters till now, the advance tax collections from the Mumbai zone, which contributes over a third of the income tax collections nationally, have grown 11 per cent, the official said. 
http://www.myallagents.com/Q2-advance-tax-payout-of-top-100-companies-sees-muted-growth/details.html 

Max Life posts 11% growth in new business premium in H1

Private sector Max Life Insurance today posted 11% growth in new business premium at Rs 904 crore for the first half ended September, 2013-14. 

The gross written premium of the company grew 4% to Rs 3,005 crore during the period. At the same time, the company's market share increased to 10.4% and maintained its rank as fourth largest private life insurer.

The profit before the tax grew marginally by 2% to Rs 248 crore.

In view of a strong all round performance during the first half of 2013-14 fiscal, it declared a net interim shareholder Dividend of Rs 128 crore, 29% upward revision from interim dividend announced in the previous year, Max Life Insurance managing director Rajesh Sud said. 

http://www.myallagents.com/Max-Life-posts-11-growth-in-new-business-premium-in-H1/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 

AXA Assistance, iJet foray into Indian risk management market

NEW DELHI: Risk management solutions provider AXA Assistance and iJet International have announced their foray into India and are aiming to provide solutions to about 10 domestic firms this year in sectors such as IT.  The two global companies are targeting Indian corporate houses which send employees abroad and hire expats.  "Our aim this year is to tie up with at least 10 such companies," AXA Assistance Director Pradeep Bery told a new agency.  Both the firms have partnered to deliver combined security and medical response solutions in India.  "We have come together to provide comprehensive, integrated security and medial response solutions to corporates, expatriates and even students going abroad for education," Bery said.  However, he did not disclose the revenue sharing mechanism between the firms.     http://www.myallagents.com/AXA-Assistance-iJet-foray-into-Indian-risk-management-market/details.html

LIC close to seizing Unitech's Noida land

NEW DELHI: Life Insurance Corporation of India (LIC) has taken "notional possession" of a slice of real estate major Unitech's 350-acre land parcel in Noida after the company failed to repay a part of its nearly Rs 150-crore loan from the country's largest insurer.
In a 'Notional Possession Notice' issued, LIC cautioned the public against dealing with the land parcels in sectors 96, 97 and 98 in Noida, which is prime property along the expressway that connects the Delhi suburb with Greater Noida. Bankers said "notional possession" is a step short of taking physical control of an asset, although the property remains under the company's charge. The property can be handed back to the company once the accounts are settled 
.http://www.myallagents.com/LIC-close-to-seizing-Unitechs-Noida-land/details.html 

Air India and LIC triumph in All India public sector carrom

MUMBAI: Former World Champion RM Shankara of Air India & unseeded Kajal Kumari of Indian Oil won the men and women singles titles in the All India public sector carrom tournament organised by Air India Sports Club under the auspices of All India Public Sector Sports Promotion Board at badminton hall on Saturday. 
.http://www.myallagents.com/Air-India-and-LIC-triumph-in-All-India-public-sector-carrom/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 

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 

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

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 

LIC hopes to retain market share of 82 percent this fiscal

"We hope to retain the existing market share in the current financial year at 82 per cent," LIC Managing Director SB Mainak said

LIC 's market share increased to 82 percent last fiscal as against the previous year's level of 76 percent, he sai

He added that LIC has introduced many new products since January 2014"Products require time to get market acceptance," he told reporters on the sidelines of a seminar organized by BCCI on Tuesday.  

http://www.myallagents.com/LIC-hopes-to-retain-market-share-of-82-percent-this-fiscal/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