Friday, April 29, 2011

Now Insurance cover for your loans

We have all personally seen and even sometimes been privy to plenty of stories where people have taken more debt than they can handle. Debt management if not taken seriously can ruin lives. Many families and marriages have been the victims of debt spiraling out of control.

Well, there is a solution, and it is called “Loan Insurance”. Loan protection insurance or loan payment protection Insurance, as it is called by some, pays your loan instalments if you become unemployed or suffer disabling injury or become bedridden. Furthermore, in the unfortunate event of your death, this insurance will settle up your outstanding loan balance, thus sparing your family the financial trauma of paying off the loans.

This form of Insurance can be used on home loans, car loans and in some cases personal loans as well. Just like other insurances, you have to pay a premium for it but there are a few banks, which offer it free with their loans. The premium for loan Insurance depends on various factors such as:
     Loan Amount
     Medical Records
     Repayment plan
It can prove to be a very handy financial tool during the financial ups and downs in one’s life. It can take care of the installments as well as the outstanding loan amount.

For more detailed information regarding which banks offer such Insurance and those banks which offer it for free, call us on our toll free number.

Tuesday, April 26, 2011

NPS a threat to existing pension schemes

New Pensions Scheme or (NPS) has been launched by Pension Fund and Regulatory Development Authority (PFRDA).

This new scheme has given one of the highest returns if compared to the various mutual funds in the market. So far the average return by the NPS has been between 12-14%.

Insurance is not a bad idea when it comes to investment options for retirement. Research a bit and you might find a profitable deal.

It is being expected that NPS might manage to eat into the market share of Insurance products and mutual funds as post retirement investment options.

The NPS where the Central Government employee has to make a contribution was started in January 2004. Once the NPS was deemed successful it was extended to all Indian citizens in the age bracket between 18-55 years in May 2009.”

27 states have accepted and implemented the scheme. West Bengal, Tripura and Kerala (states governed by the left) have refrained from accepting NPS. Guess they will stick to Insurance.

A total of 20 lakh members which includes 12 lakh Central Govt, 6 lakh State Govt employees with 6 lakh corporate accounts, so far NPS has been moderately successful.

The things holding back the massive acceptance of this scheme are a few as well. Very low commission, and poor distribution most private organizations and many Government organizations have not accepted this scheme.

Wednesday, April 20, 2011

Max New York Life Insurance launches 2nd edition of igenious scholarship

A unique parent child initiative started by Max New York Life Insurance has been launched the second time. The igenious scholarship supports all round development.

 Through this program the industry can learn about Indian life Insurance consumer at their youngest. The igenious scholarship programme has been conceptualized with the help of Derek O’ Brien. The scholarship holder has to go through a multiple level evaluation. Students from 3rd to 8th standard can apply for this scholarship. There are more than 1000 prizes to be won worth a total of Rs. 1 crore.

The registration will start on April 28th and the grand finale will be held at the end of the year in December. Last year in the first edition of the scholarship, Max New York Life Insurance had received more than 10 lakh applications received from around a 1000 cities spread across India.

If your child falls in the class group that Max New York Life Insurance is looking for, leave everything and apply for this scholarship as soon as possible.

Monday, April 18, 2011

Insuring India featured in the Financial Chronicle

Third party motor insurance premium to increase by 70%

From 25th April you will have to pay an increased premium amount on your Motor Insurance policy.

To get the best <Motor Insurance policy> in the market, you can try us out.

Insurance Regulatory and Development Authority (IRDA) has taken this decision. IRDA had through their exposure draft in Jan 2011 announced their suggestion of increasing the premiums on Motor Insurance by 80%. Private car and two wheeler insurance premiums will be increased by 10%. So if all these variables are calculated the actual increase in premiums is 68%.

The IRDA revises their rates every 4-5 years. And the IRDA realizes it that it puts a lot of strain on the industry. From now on they will be reviewed on an annual basis.

Insurers have been forced to create an excess provision of Rs. 3, 500 crores. But in return they have not been allowed to issue fresh policies which have been changed according to this provision or make any changes in the policies that have already been sold.

Saturday, April 16, 2011

General Insurance to become costlier: IRDA warns

Motor Insurance , Health Insurance , Property Insurance and others which come under General Insurance are about to get costlier. The cost of insurance cover for policyholders will rise. This is because the companies are now expected to keep more funds aside for claims.

The IRDA had made some interesting remarks considering the future of the Insurance industry. The next three years will be very critical for companies providing Insurance. Major changes are expected in distribution, marketing, set-up, terms of regulatory development, and channels of distribution.

The regulators have made some suggestions to the Insurance providers to help them improve their profits.

The regulators do not have a lot of faith in the agency development system currently in place. The system which is being used has some major deficiencies. It will gradually be replaced by a better system.

There are a lot of promises being made by IRDA this year. And a lot of warnings being given out as well. Let’s see what happens next.

Friday, April 15, 2011

What is personal Insurance?

Personal Insurance is broadly described as insurance policies that cover personal property, motor and/or health insurance. For more detailed information, you can call us on our toll-free number 1800-103-9222.

And we have multi language support so you can get all your queries solved, find, compare and buy the best Insurance policy in the market, all while conversing in your preferred language.

Tuesday, April 12, 2011

Oriental Insurance insures 5 IPL teams

Oriental Insurance, the state owned Insurance provider will be the one providing Insurance cover to a total of 5 IPL teams. The total Insurance cover of the teams together is a sum of Rs. 610 crores. The cover includes personal accident, medical insurance and loss of baggage.

Kerala’s Kochi Tuskers is the team with the highest Insurance coverage of Rs. 160 crores. Chenai Super Kings have got insurance cover to the tune of Rs. 136 crores. The players have been insured separately as well. You can read about it here.

Pune Warriors have got a policy worth Rs.122.4 crores for their 30 players. Rajasthan Royals got a personal accident insurance cover of Rs.93.7 crores Deccan Chargers have got a cover of Rs. 98 crores.

Oriental Insurance had provided more than Rs.1000 crores worth of Insurance coverage in the previous edition of the IPL. Board of Cricket Control in India (BCCI) and various IPL franchises had taken Insurance policies.

You could try us for some personal insurance policies.

This time the IPL has 10 teams and the event will last a total of 50 days. The finals will be held on 28th May.

Monday, April 11, 2011

The pressure of Motor Insurance Premiums

Max New York Life Insurance official sponsors of Pune Warriors

In its first ever direct partnership with an IPL team, Max New York Life Insurance will be the principal sponsor and official team partner of Pune Warriors. The company has been associated in some way or the other with IPL since it started. Now they will be directly associated with an IPL team.

The CEO and MD, Rajesh Sud was very excited about the new association. He mentioned that this new move demonstrates the company’s efforts to experiment and try out new avenues. This will give a boost to the brand and bring the company and its products more into the public eye. And IPL is a very effective way to achieve brand recognition among the public.

Although we could help you with your Life Insurance needs. Be Max New York or other insurance providers. We will find and inform you of the latest schemes and policies in the market best suited to your needs. Call us and get all your insurance needs resolved.

The IPL team Pune Warriors is very excited about gaining such a sponsor as well. Abhijit Sarkar, the head of corporate communications, Sahara said. Both the brands will prove to be beneficial to each other.

The company will be coming out with various schemes, products and rewards initiative during this season. This move will improve stakeholder engagement with the brand. Also it will prove to be beneficial to stakeholder morale and satisfaction.

Saturday, April 9, 2011

Anna Hazare gives Insurance companies ideas

No we are not talking about life insurance coverage on death due to fasting. The protests in and around Jantar Mantar has affected the sales of shops in nearby markets. Anna Hazare and thousands of his followers and admirers have crowded the streets in and around Jantar Mantar rallying support to get a strict legislation turned into a bill. The bill will help curbing corruption in the system. Business Insurance has now become an essential financial instrument for most shopkeepers in India.

Now General Insurance companies have got an idea for a new form of cover through insurance. A “denial of access” would be a new form of insurance cover. In this the insured would be compensated due to drop is sales when the customer is unable to reach the business establishment. This new cover will be very popular according to the insurers. The policy has a lot of potential. Just take a small of example such as Delhi. There is constant maintenance and construction work going on in Connaught Place. Also roads are regularly dug up in major market resulting in loss of customers and sales.

The same can be said with Mumbai which has problems every year when the monsoons arrive. Every part  of the country could benefit from this new scheme. Many trading associations and business groups have already shown interest in such forms of Insurance.

And when the policies are launched you can always drop in at our website or give us a call and take advantage of our services

Friday, April 8, 2011

Dhoni insured for Rs. 34 cr in IPL 4

The most heavily insured player in the IPL, Mahinder Singh Dhoni has been insured through the Oriental Bank of Commerce for Rs. 34 crores. Chennai Super Kings is the one who has taken this policy. Last year the amount was Rs. 24 crores when they won the IPL 3.

Suresh Raina who plays for Chennai Super Kings as well has also been insured for a whopping 20.5 crores. However Sachin Tendulkar from the Mumbai Indians has been insured for only a meager sum of 12 crores. Mahela Jayawardene, captian of Kochi Tuskers Kerala has been insured for Rs. 20.5 crores.

Every IPL team and their Insurance coverage provider has a different contract. Some have taken policies for only selective players. Others Like Mumbai Indians have a comprehensive policy. Under this policy Mukesh Ambani’s team has  event cancellation cover, workmen’s compensation, personal accident cover, medical cover. A total premium amount of Rs. 1.5 crores has so far been paid out.

We would suggest that you should get medical insurance as well. We even have business insurance as well. Insurance is a safe investment as well as a form of emergency helping hand when in trouble. Call our toll free number and we could find that perfect policy for you.

Thursday, April 7, 2011

Less than 15% of India has health Insurance

A white paper compiled by PWC has come up with certain recommendations after their roundtable meeting. Industry leaders from the Insurance and healthcare market among many Government officials were part of the meeting.

One of the points which everyone agreed upon was the desperate need for a regulator in the Healthcare market. Now the Insured demands quality medical treatment and more streamlined processes. There are a lot more expectations from an Insurance provider in the market now.
However we will fulfill all your expectations when it comes to health Insurance.Give us a call and we can help with whom and how much should you get insured.

There is a need in the market for more specialized product in the market custom made for different demographics and sections of society. People falling in different income slabs have mutually exclusive needs and they need to be met.

Also another concept came into being at this event. A Credit Information Bureau (India) Limited needs to be set up. The primary role of this organization would be collection and dissemination of credit history information for banks and financial institutions.

Less than 15% of Indian’s have some form of health insurance. This figure includes citizens covered under Government supported schemes. There is a huge market in India with a potential worth billions. And once this market is tapped, proper medical treatment won’t be out of reach for a majority in India.

Dont be Uninsured. Health Insurance is cheap option for getting the best medical treatment for yourself and your loved ones. Get yourself and you family insured. Give us a chance to brighten your future.

Tuesday, April 5, 2011

All deposits in Indian banks are pre-insured

Every time you panic and run to get your deposits out of the bank, think again. All Indian banks which are under the supervision of the RBI cannot go under. In the event of an amalgamation, liquidation and reconstruction, all small depositors are safe. They are entitled to a repayment of all their deposits to the tune of Rs.1, 00,000.

And this is a compulsory for all banks working in India.  All commercial banks, regional rural banks and even co-operative banks in certain states are also included.

Deposit Insurance is provided by only one organization in the country. Deposit Insurance and Credit Guarantee Corporation (DICGC) will make sure that at least Rs.1,00,000 can be withdrawn by the depositor per account.

What we would suggest would be spread your deposits in various banks. Thus the limit for withdrawal increases.

Also getting a proper Insurance policy to create a back up in case of emergencies.

Indian banks have some inherent qualities when it comes to their assets. All banks are required to have a Cash Reserve Ratio of 4.75%. Also under the Statutory Liquidity Requirements (SLR) the banks have to deposit 25% of their deposits in Central Government Paper. Thus almost 30% of a bank’s deposits are very liquid.

Monday, April 4, 2011

ICICI Pru Immediate Annuity, the latest product of ICICI Prudential Life Insurance

ICICI Prudential Life Insurance has launched its latest product in the market. The ICICI Pru Immediate Annuity which is meant for the NRI market. Through its structured investment plan, the parents of the NRI’s will get a comfortable and secure source of monthly income.
It’s a form of a retirement fund created by the children for their parents.

Find out your Life Insurance requirements.

The benefits are plenty with a fixed monthly income which will not be affected by changes in the market. And the initial investment will be returned once the beneficiaries expire. This is just a onetime investment with no monthly investments needed. Also the monthly payments right after the Annuity has been purchased.

All one has to do is open a Non Resident External Savings account and transfer the required funds to the ICICI Pru Immediate Annuity account. Once the beneficiaries have been mentioned as the parents who are living in India, the process of payments starts.

Also the interest rates at which the monthly payments are made can be adjusted if the residence country of the NRI has a higher interest rate.

Now how cool is that.

Just keep in mind that managing multiple policies, can be tricky. Thus register with us and we will take care of it all.

Saturday, April 2, 2011

Reliance Life Insurance pledges Rs. 25,000 per boundary during world cup final

There is a special announcement made by Reliance Life Insurance before the World Cup final. For every boundary hit, the company will donate Rs.25, 000. Boundaries scored by either side are eligible for increasing the total amount which goes to charity. This is in addition to the same offer for sixes. This is part of their boundaries for books initiative.

Find your appropriate life Insurance cover.

There is already another scheme in place. For every six the same amount will be donated. All this money will be granted to "Room to Read". This was launched in association with the ICC and Room to Read. Room to Read is an international non profit organization.

Through this initiative, the money so received will be used to provide libraries with books and trained teachers to students. With around 96% of the world's youth deprived from this precious resource, this initiative could be a catalyst for a better future.

Many cricketers like Mahendra Singh Dhoni of India, Angelo Mathews of Sri Lanka, Shane Watson from Australia and many others have endorsed this novel campaign. If every six I hit will allow children to access books and libraries, then there is no better inspiration for me to play my best!" were the words of the Indian Captain Mahendra Singh Dhoni.

Let’s just hope, the Indian batsmen make a significant improvement in the total amount to be donated by Reliance Life Insurance in today’s

Friday, April 1, 2011

A sweet and endearing commercial. But it comes with a lesson. Life is fleeting and life insurance is something which everyone should have.