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 

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

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 

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

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

CHRISTMAS IS FOR LOVE

Christmas is for love. It is for joy, for giving and sharing, for laughter, for reuniting with family and friends, for tinsel and brightly decorated packages. But mostly, Christmas is for love. I had not believed this until a small elf-like student with wide-eyed innocent eyes and soft rosy cheeks gave me a wondrous gift one Christmas. 

http://www.myallagents.com/CHRISTMAS-IS-FOR-LOVE/details.html  

With critical insurance policy, live a worry-free life

Life expectancy of Indians is increasing. A study published in the British Medical Journal 'The Lancet' revealed that the Life Expectancy (LE) at birth of an average Indian male increased by 15 years between 1970 and 2010 and the same for a woman increased by 18 years. The report pegged the life span of an average Indian male to be 63 years while that of a woman is 67.5 years.  While all this is nice to hear, what does it really mean for the average Indian? Simply this, that we now live a longer, fuller life. If you read between the lines, a longer life also means higher chances and incidence of ailments and diseases, given old age; which in turn translates to higher medical costs and expenses   http://www.myallagents.com/With-critical-insurance-policy-live-a-worryfree-life/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

Insurers struggle to get micro-insurance agents

Micro-insurance or micro agent was a channel in theinsurance industry that was developed for deeper penetration of insurance into India. However, with smaller ticket size coupled with low commissions, this channel has seen low participation from distributors. Micro-insurance products, which offer coverage to low income households is a mechanism to penetrate rural areas. It is a general or life insurance policy with a sum assured of Rs 50,000 or less, however the average ticket size ranges from Rs 2000-4000 per policy.  http://www.myallagents.com/Insurers-struggle-to-get-microinsurance-agents/details.html