Don't depend on health cover by your employer

Most salaried are quite happy and content with their employers' health insurance schemes. Most feel they do not need any more insurance. But in the past three years, most Indian companies have been reducing the cover or insisting on co-payment for employees' parents. In such circumstances, employer's cover may not be enough. So, it is important the cover keeps pace with rising costs.   http://www.myallagents.com/Dont-depend-on-health-cover-by-your-employer/details.html

Complaints Against Insurance Companies On A Rise

The Central system of Insurance Regulatory and Development Authority that keeps the data of complaints of policy holders against all the insurance companies, for the year ending March 2013, posted a figure of 3.41 lakhs complaints against the life insurance companies. Majority of these complaints were against insurance giant Life Insurance Corporation of India, Birla Sunlife and Bajaj Allianz and were related to issue like unfair business practice, alleged mis-selling by insurance companies etc.   Further the complaint cell stated that most of the complaints (more than 30%) pertained to unfair business practice. Of the total 3.41 lakhs complaints, 168,482 complaints were of unfair trade practices    http://www.myallagents.com/Complaints-Against-Insurance-Companies-On-A-Rise/details.html

Bajaj Allianz Expects General Insurance Business To Increase 5 Folds In Next 5 Years

Inspite on economic crisis, delay in increase of FDI to 49%, Bajaj Allianz, which is a joint venture between Bajaj Finserve Limited and Allianz SE, expects its company to grow at 20% in next five years. At present the company is growing at 6 - 7%. The company is planning its expansion in the rural areas of the country.

Justifying the expansion and increased growth, Mr. Tapan Singhel – Managing Director and Chief Executive Officer of the company said that business in rural area is vibrant with car sales and FMCG products are on a rise. Rural areas will be a key factor in attaining growth of a general insurance company. In addition to the above, he added that, insurance penetration being very low in rural areas, will also throw up a huge opportunity to expand the business.

Adding to the above, he revealed that the expansion in the rural area will be driven by low cost, high service model supported with latest technology. 

http://www.myallagents.com/Bajaj-Allianz-Expects-General-Insurance-Business-To-Increase-5-Folds-In-Next-5-Years/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 

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

New govt's fiscal policy to affect RBI's monetary stance

With a new government at the Centre only a few weeks away, the Reserve Bank of India (RBI) might wait for the new dispensation’s fiscal policy to take its policy actions, feel experts. Although Consumer Price Index (CPI)-based inflation is on the rise in March, RBI might hold rates till June. According to experts, if the new government takes concrete steps, it would provide room for RBI to cut rates in the future, though not in near term.  http://www.myallagents.com/New-govts-fiscal-policy-to-affect-RBIs-monetary-stance/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

What is mortgage insurance?

Mortgaging one’s house for a loan is a major and long-term commitment. Mortgage payments typically continue over several years, and one can never predict fluctuations in the borrower’s ability to repay at the moment of taking out a mortgage. Hence, the borrower may have to purchase mortgage insurance to protect against the risk of future non-payment of dues because of financial difficulties due to sickness, disability or unemployment 
http://www.myallagents.com/What-is-mortgage-insurance/details.html.  

HNIs to benefit from RBI policy

High networth individuals (HNIs) will feel better after the Reserve Bank of India (RBI)'s bi-monthly monetary policystatement. Reason: The RBI has increased the limit of investment from $75,000 to $125,000 per head (or Rs 75 lakh at the rate of Rs 60/$). This means ones travelling abroad frequently will be able to take advantage of this.  http://www.myallagents.com/HNIs-to-benefit-from-RBI-policy/details.html

A supplementary cover at best

Most individuals defer buying health insurance as they believe the main cost they will have to incur is for surgery, say insurance players. To address this, Bajaj Allianz General Insurance has introduced a new plan – Surgical Protection Plan, a benefit plan which proposes to repay surgical expenses. 
http://www.myallagents.com/A-supplementary-cover-at-best/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

Draft rules ban replacement of life insurance policies

The Insurance Regulatory and Development Authority (Irda) said insurers could not replace life insurance  policiesunless in the interest of policyholders.
This was to protect the long-term interest of policyholders and to discourage intermediaries from persuading customers to surrender their policies and take up new ones, Irda said in the exposure draft on rules related to the replacement of life insurance policies released on Wednesday. Feedback on the draft can be given till July 20 
http://www.myallagents.com/Draft-rules-ban-replacement-of-life-insurance-policies/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 

Should you opt for a high-value health cover?

The demand for a higher health insurance   cover is increasing. Renuka Kanvinde, assistant vice-president, health insurance,Bajaj Allianz General Insurance , says the company has seen a 35-40 per cent increase in demand for their Extra Care, a top-up plan, in the past two years. They also saw buyers shift from a Rs 3-5- lakh policy to Rs 7.5-10 lakh in the period.
This led the private insurer to believe health insurance policybuyers want a bigger cover. Hence, a fortnight earlier, it launched a Health Care Supreme product, offering a cover between Rs 5 lakh and Rs 50 lakh. 
http://www.myallagents.com/Should-you-opt-for-a-highvalue-health-cover/details.html  

Final Thoughts

Even though the American insurance industry was greatly influenced by Britain, the US market developed somewhat differently from that of the United Kingdom.  Contributing to that was America's size, land diversity and the overwhelming desire to be independent.  As America moved from a colonial outpost to an independent force, from a farming country to an industrial nation, the insurance business developed from a small number of companies to a large industry.  
http://www.myallagents.com/Final-Thoughts/details.html 

Business Insurance Agents

Online insurance quotes and buying insurance online is no longer a novelty. Many business insurers are online and, while buying insurance for a business on the internet is not as prevalent as buying personal auto insurance online, growing numbers of small business owners are going to online sources for their insurance. If one follows some guidelines when using online quote sites to purchase insurance, business internet insurance sites can offer premium savings.

What is missing is the insurance agent or broker. Insurance professionals will tell you that they offer significant value to the insured. They will contend that the absence of an insurance professional will cost a business in the long run. Contrary to that argument is the claim that online sites offer insurance for less and can offer more quotes from more sources. Let's look at the website versus the insurance professional. 

http://www.myallagents.com/Business-Insurance-Agents/details.html 

Life Settlements

Mention Life Settlements and you’re bound to hear strong opinions, both positive and negative. The life settlement market has grown into a billion dollar industry in the last few years.  If you're over 50 and own a term life insurance policy you no longer need, this could mean money in your pocket.

First, the UglEvery market has those who try to “game” the system.  Many seniors have fallen prey to agents tempting them with an offer of free money.  The senior is induced to purchase life insurance without a legitimate need for such coverage.  The insured then waits two years so the policy becomes uncontestable, sells the policy, and shares the proceeds with the other parties to the transaction. This is called “stranger originated life insurance” (STOLI). 

http://www.myallagents.com/Life-Settlements/details.html 

Settlement Loans Vs. Traditional Loans

When considering a settlement loan you should always know the differences between a settlement loan and a traditional loan. They are two complete different ways to obtain fund during a pending lawsuit when a client has no income. This article is designed to explain the differences between a settlement loan and a traditional loan and allow the reader to determine which can be a better solution  
.http://www.myallagents.com/Settlement-Loans-Vs-Traditional-Loans/details.html

Long Term Investments for the Future

If you are ready to invest money for a future event, such as retirement or a child’s college education, you have several options. You do not have to invest in risky stocks or ventures. You can easily invest your money in ways that are very safe, which will show a decent return over a long period of time.
First consider bonds. There are various types of bonds that you can purchase. Bond’s are similar to Certificates of Deposit. Instead of being issued by banks, however, bonds are issued by the Government. Depending on the type of bonds that you buy, your initial investment may double over a specific period of time. 
http://www.myallagents.com/Long-Term-Investments-for-the-Future/details.htm 

Due Date Table for TDS and TCS

Quarter	Form24Q	Form 26Q	Form 27Q	Form 27EQ
First	July 15th	July 15th	July 14th	July 15th
Second	October 15th	October 15th	October 14th	October 15th
Third	January 15th	January 15th	January 14th	January 15th
Fourth	June 15th	June 15th	June 14th	April 30th

http://www.myallagents.com/Due-Date-Table-for-TDS-and-TCS/details.html