Edelweiss Tokio Life Insurance to enter Indian markets

Life Insurance market in India has a new entrant with Edelweiss Tokio Life Insurance, gearing up to take the Indian market by storm.

The company intends to set up a multi channel distribution business but will start with the implantation of the agency model. The company has set up 19 branches and will increase it to 22 by November. The target is 44 branches by the next 2 years.

The company has plans of hiring 6000 agents and forecasts with Rs. 100 crore in premiums expected by March 2013. Permissions have been received from the Insurance Regulatory Authority of India (IRDA).

The company is a joint venture between Edelweiss Capital and Japanese Insurance Company, Tokio Marine. Edelweiss holds the controlling stake of 74% in the company. The rest is held by the Japanese Insurer. Tokio Marine is however keen to increase their stake in the joint venture whenever the FDI limits in the Insurance sector in India are raised.

Seems like a company to watch out for. Watch this space for more.

But if you interested in buying insurance right now, you can give us a visit or call us for free on 1800-103-9222 and buy yourself insurance now.

Bharti AXA Life Triple Health Insurance Plan launched

Bharti AXA Life Insurance has launched their new health insurance plan. It is a one of a kind product, as it  is a triple benefit critical illness plan.

Bharti AXA Life Triple Health Insurance Plan can provide a cover up to three times the sum assured. A total of 13 critical illnesses are insured. These illnesses are classified into three groups each. The individual can claim for an illness in one group and can still claim for 2 more illness from the remaining groups. And these three claims can be for the complete sum insured. Pretty neat eh?

The Health Insurance market in India is booming. The rising stress levels, the cut throat competition and with a  need to achieve success comparable to their more successful peers, Indians are losing big time when it comes to their health. People in their twenty's are now facing the risk of heart attacks, diabetes, spondilitis etc.

With the things as they are and any improvement in the situation not visible in the far horizon Medical Insurance is an essential product to have.

One can claim three times for unrelated illnesses for the whole sum insured. Now this is indeed unique when it comes to the existing policies in the market. Also once a claim is made, the policy has an inbuilt policy waiver too. If the policy holder has opted for “Return of Premium” the individual will get a full surrender benefit and the maturity benefit along with it.

This is seriously an awesome product especially for the working class in India. Do give us a call for free on 1800-103-9222 or visit our website to get your health insurance policy today. No masses of paperwork and regular trips from the Insurance agent leave the tension to us.

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.

10 Things to look for in YOUR INSURANCE POLICY:

VERIFY: your personal details and data provided to the insurance company, for it forms a very important part of the settlement claims. Mention all details correctly and honestly. In cases where it is not declared or is erroneous on policy documents, the insurer in all fairness may refuse to honor the claim.

ANALYSE: your benefits, must correspond with your long term plans. Go through the features of the product and check if they match with promises made during the purchase. Check for evolved features such as dynamic fund allocation or increasing premium to beat inflation which needs to be understood in detail.

CHECK: for add-on covers known as riders for other types of contingencies. Ensure that rider you bought are included in it, to avoid disappointments at critical moments.

CONSIDER: knowing the exact payment tenure. Check for how long you need to pay premiums and also what mode of payment you may have chosen, for example half yearly, quarterly etc. Life insurance is a long term savings and protection tool and its benefits can be seen only if one buys it for the long-term, which is the primary reason you bought the policy.

AUTHENTICATE: Study carefully what is guaranteed and what is not. Once you get the policy documents, check out the benefit illustrations of returns.

GLANCE: through terms and conditions of the service contract. In case you find any difficulty in understanding any aspect, you may want to check with the insurer the impact of those terms.

CONFIRM: the exact surrender charges mentioned in the documents for the times you face a cash crunch and need to surrender your policy or make partial withdrawals.

EXAMINE: exclusions in the policy, which define aspects or situations that will not be included in the coverage. It is common for many life insurance policies to refuse to cover certain types of deaths within a specific period of the policy being issued.

CLAIM: nominee's details are captured properly. Your life insurance policies should include everything that is supposed to be in your coverage, and it will spell out exactly what your responsibilities are, what the life insurance company is responsible for, what you are covered for and how much, and every other aspect of your life insurance coverage.

Mis-Sold: The life insurers give a free look period of 15 days to the consumer during which a consumer can review the policy from his needs perspective. If product features aren’t in sync with consumer needs, then he is free to return the policy and claim a refund of the money paid.

ICICI Prudential Life Insurance kick starts awareness drive

ICICI Prudential Life Insurance will soon be launching a consumer awareness drive. In recent surveys and studies, the company has found out that the level of awareness of basic insurance facts is frighteningly low in India.

This lack of awareness leads to purchase of the wrong product. Expectations are always there but when they are not met, you blame the Insurance provider. This leads to further problems, especially for the Insured.

Life Insurance is a wonderful and must have tool for hedging, protection and even wealth creation. But due to lack of knowledge or even awareness about the basic facts, these products are not used to their full potential.

Thus according ICICI Prudential Life Insurance, consumer awareness is of paramount importance. The company will go about this campaign with 10-12 insurance mantras. Let us hope this time consumers learn something and make informed decisions when it comes to buying Life Insurance.

6 things to keep in mind when buying Health Insurance

There is no such thing as the perfect plan

There are thousands of plans and policies out there. The first thing you need to figure out is what you need. Accordingly find the plan which best suits your requirements and go ahead and buy it.

                       

Get more than enough health cover

When we don’t mind paying a few bucks extra at high restaurants because of hygiene issues why not extend this courtesy to Insurance as well. Keep in mind that inflation in India will always remain at a particular level. And with the way medical costs are increasing, the amount which according to you is more than enough might not cut it. And you will realize this when there will be either no or very limited sources of income.

Read the Terms and Conditions

We know that they are written in small fonts and it's a lot of text. Read it while you still can, as it could very well decide where and how you will get yourself and your family treated in the future.

Do not depend on employee health Insurance schemes

Never depend on the Health Insurance you get at work. Jobs are transient and you will lose the insurance when you leave the job. And company policies are usually very limited in nature. Make sure you get your own policy according to your own needs.

Mark renewal dates everywhere

These are important dates and should be marked everywhere. Mark them on your calendars, mobile phones, planners, alarm clocks etc. You can forget your anniversary or even the wife’s birthday but don’t forget your renewal date. It saves money and time, so always keep it in mind.

Hiring a Health Insurance advisor is not a big deal

Spending a little more and hiring an expert is never a bad idea. Granted if you intend to buy a policy for only a few years, you can skip this part. But when you are buying something as important as a family health, you better get an expert.

If you have any queries and problems on Health Insurance, you can always call us up on our toll free number 1800-103-9222 or visit our website to buy Insurance

Mobile Phone Insurance in India

Cell phones have become the quintessential gadget for every Indian. And folks like to spend a lot of money on their gadgets. Hence Insuring these expensive smart phones is not a bad idea at all.

Mobile Phone Insurance in India is not exactly a new product. Many public and private Insurance companies provide mobile phone Insurance. The cover usually includes fire damage, theft and external damage. The cover can be extended further according to individual needs and Insurance provider.

However the exclusions are less variable
 • If the mobile phone is shared among friends and gets stolen
• If the mobile phone is damaged due to battle or nuclear threats, imprisonment or seizure by customs or any other authority under the Government.
• If the mobile phone is misplaced or forgotten somewhere.
• Mobile phone abuse
• Damage to mobile phone due to strange circumstances
• Damage to mobile phone while repairing, cleaning or other similar activities
• Damage due to electrical or automatic collapse
• Damage due to long term use

These exclusions are also not fixed and are different with different Insurance providers. Premiums rates are very low and very affordable actually.

Major Mobile Insurance Providers are listed below as well
• National Insurance Company,
• Oriental Insurance Company,
• New India Assurance Company and
• United India Insurance Company

If one prefers to spend a lot of money on their mobile phones they should get the handsets insured as well. 

For health insurance, life insurance and other types of insurance you can give us a call on our toll free number 1800-103-9222 or visit our website for further details.

SBI Life launches new Health Insurance Plan

SBI’s new health insurance plan, Hospital Cash plan, insures the policy holder’s accumulated savings from medical emergencies, also giving the policy holder a fixed daily allowance. This fixed daily allowance is the insured when s/he is admitted till the day he/she is released. The daily allowance comes under the Hospital Cash's Daily Hospitalization Cash Benefit. Also if the person is admitted in an ICU the payouts are doubled.

The basic premise of this policy is to address the rising healthcare costs. The policy is for 3 years and one can pay premium on an annual, semi annual and quarterly basis. The maximum age to be eligible for this policy is 75 years.

Also if two or more persons are insured under the same scheme, another fixed lump sum amount of Rs.10,000 is paid to the family members of the individual admitted in ICU.

State Bank of India Life Insurance is joint venture between State Bank of India and BNP Paribas with SBI owning a controlling stake of 74%. The policy can be subscribed through an agent or also online.

To understand this offer better, give us a call on our toll free number 1800-103-922 and also visit our website for all you Life Insurance needs.

Ganesh Chaturthi, an Insurers Diwali

Celebrating Ganesh Chaturthi has become an expensive affair. Insurance cover for the richest Pandal in GSB Seva Sadan now costs 150 crores The Insurance policy for Lalbaugcha Raja which is the oldest Pandal costs 14 crores.

Ganesh Chaturthi is celebrated throughout India but the most expensive and detailed Pandals can be found in Western India. Ganesh Idols of different sizes and shapes are installed in various Pandals spread across the region to celebrate the 11 day festival.

This time there were a total of 1, 91,000 idols installed. The most expensive Pandal at the GSB Seva Sadan has their Ganesh decorated with real gold and silver ornaments. The crown is made of 25 kgs of gold. The throne of Ganesh is made of real silver. Other precious stones have been used to decorate and beautify the idol.

Enhanced security measures and increasing expenses on these Pandals have caused the demand for Insurance to rise. Ganesh Chaturthi has become a bonanza of short term high profit business for various Insurance companies.