Wednesday 25 September 2013
Tuesday 3 September 2013
Flood insurance:
02:06
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Present time in everywhere in the world people are facing Flood problem,if you want to protect your self then take insurance.It will be very helpful to everyone.
Weather sometimes is so powerfull. It might be the most powerfull thing in the world, more then arms.
So you must be good regarded with a flood insurance for those occasion when the rain is so heavy and ur house could be flooded.
Most of companies do have those insurance, but some others have the samen insurance named as House insurance, wich is great because it covers also robering.
This kind of insurance is gOOd for every one so lets go ahead and buy it!
Pay for auto insurance!!
02:05
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Auto insurance depends on several factors-
First one is your age; if u are very young ur price will be increased, and viceversa
The colour of the car might be determinant for the insurance company; red colour is much more expensive than other ones for example.
The kind of car is very important, indeed if the car is new will cost much more than if there is a second hand car.
these are the main reasons of why the insurance of your car cost.
Saturday 6 October 2012
IRDA prepares 8 ready-to-launch plans for insurers
03:26
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MUMBAI: The insurance regulator is designing eight standard products
that companies will be allowed to launch without seeking its nod, a move
that could help revive the ailing sector.
A senior official said insurance plans based on these products will come under the 'use and file' system, which allows automatic approval after 15 days of intimation to the Insurance Regulatory and Development Authority (IRDA), the sector regulator, if the insurer has complied with the norms.
The new products being designed will be participating and non-participating endowment plans, whole life policy with par and without participating, money back, Ulip, and pension plan with two variants of deferred and immediate annuity, the IRDA official said.
Sales of life insurance products had plummeted in the last fiscal year as the insurance industry was hit by a fall in the equities market that took the sheen off unit-linked products. In the April-August period of the current year, income from sale of new life insurance policies dropped 3.3%.
To give a boost to the sector, the government on Monday announced a slew of measures, including easier know your customer norms. It also said that the regulator, in consultation with insurers, would design some standard products that could be used under the 'use and file' system. The IRDA official said that the new products would be based on some of the LIC tables.
Participating, or par endowment plans, refer to with-profit policies where bonus is declared every year depending on the performance of the fund. These products dominate traditional business of life insurance companies.
Non-participating, or non-par endowment, policies invest in safer instruments but they do not give bonus. Also, policyholders know the maturity amount at the time of buying the product.
The simple, whole-life policies are products where premium is paid for a limited period while the life is covered for a longer term, usually about 85 years. The unit-linked plan, with investment mostly in equities, will be based on a single index.
The finance ministry has asked the regulator to expand the list of such standard products over a period of time.
The IRDA is also framing guidelines for traditional products and will come up with the new norms by November 30.
Insurance companies have welcomed the steps being taken by the government. "Steps on KYC, expanding the scope of group savings product, and further streamlining of the product approval process, will help the industry grow," said V Philip, managing director and CEO of Bajaj Allianz.
A senior official said insurance plans based on these products will come under the 'use and file' system, which allows automatic approval after 15 days of intimation to the Insurance Regulatory and Development Authority (IRDA), the sector regulator, if the insurer has complied with the norms.
The new products being designed will be participating and non-participating endowment plans, whole life policy with par and without participating, money back, Ulip, and pension plan with two variants of deferred and immediate annuity, the IRDA official said.
Sales of life insurance products had plummeted in the last fiscal year as the insurance industry was hit by a fall in the equities market that took the sheen off unit-linked products. In the April-August period of the current year, income from sale of new life insurance policies dropped 3.3%.
To give a boost to the sector, the government on Monday announced a slew of measures, including easier know your customer norms. It also said that the regulator, in consultation with insurers, would design some standard products that could be used under the 'use and file' system. The IRDA official said that the new products would be based on some of the LIC tables.
Participating, or par endowment plans, refer to with-profit policies where bonus is declared every year depending on the performance of the fund. These products dominate traditional business of life insurance companies.
Non-participating, or non-par endowment, policies invest in safer instruments but they do not give bonus. Also, policyholders know the maturity amount at the time of buying the product.
The simple, whole-life policies are products where premium is paid for a limited period while the life is covered for a longer term, usually about 85 years. The unit-linked plan, with investment mostly in equities, will be based on a single index.
The finance ministry has asked the regulator to expand the list of such standard products over a period of time.
The IRDA is also framing guidelines for traditional products and will come up with the new norms by November 30.
Insurance companies have welcomed the steps being taken by the government. "Steps on KYC, expanding the scope of group savings product, and further streamlining of the product approval process, will help the industry grow," said V Philip, managing director and CEO of Bajaj Allianz.
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