This Blog provides you UpToDate information on life & General insurance dealing mostly with LIC's New Plan Circulars, MillionDollarRoundTable tips on marketing,Financial analysis and INCOME TAX.
what type of losses cover in insurance?
Losses covered in Insurance –
Financial protection to family after insured person’s death.
Insured repayment of debt after the death of insured debtor.
Protection against contingent liabilities
Financial protection to the family of employee after his or her death while service.
Protection against the uncertain situation after the death of partner or co-shareholder in a business.
Financial backup while loss in business or entity
Protection against uncertain health or medical expenses.
Protection against theft or fire or natural hazards.
Protection against legal affairs or law suits.
Protection against physical disability
Protection of vehicle against accidental or theft losses.
vinay mohanty
what heppens after 30 9 2013 to lic agents?
Dear friends,
good morning all. As per new IRDA directions, our lic is going to close all existing plans by 30-09-2013 and
new plans will be introduced from 01-10-2013.
I request you all to comment on this. what is going to happen and what is the future of lic and lic agent.
With kind regards,
vinay mohanty
good morning all. As per new IRDA directions, our lic is going to close all existing plans by 30-09-2013 and
new plans will be introduced from 01-10-2013.
I request you all to comment on this. what is going to happen and what is the future of lic and lic agent.
With kind regards,
vinay mohanty
HDFC Standard Life tops unfair trade practices complaint chart
By PTI | 23 Apr, 2013, 06.00PM IST
NEW DELHI: Leading private life insurers HDFC Standard Life, Bajaj Allianz and Birla Sun Life top the list of firms against whom consumers have have filed complaints with sectoral regulator Irda for indulging in unfair business practices.
The other major companies against whom large number of complaints for making false lucrative offers to sell policies have been filed include ICICI Prudential and Reliance Life,Finance Minister P Chidambaram informed the Rajya Sabha in a written reply.
As compared to their private counterparts, the number of unfair business practice complaints filed against public sector behemoth LIC was significantly less during 2012-13.
Insurance regulator Irda, Chidambaram said, "based on its own enquiries, levies penalty on insurance companies wherever a case of unfair business practice is established".
Based on the data by the Finance Minister, the total number of unfair business practice complaints have shot up to 1.68 lakh in 2012-13, from about 1 lakh a year ago.
During the year, the number of complaints filed against HDFC Standard Life during 2012-13 stood at 33,813 followed by Bajaj Allianz (21,745), Birla Sun Life (21,651), ICICI Prudential Life (16,891) and Reliance Life (16,401).
In case of LIC, which is the largest insurance company in the country, only 2,538 complaints regarding unfair business practice were received by Irda.
vinay mohanty
NEW DELHI: Leading private life insurers HDFC Standard Life, Bajaj Allianz and Birla Sun Life top the list of firms against whom consumers have have filed complaints with sectoral regulator Irda for indulging in unfair business practices.
The other major companies against whom large number of complaints for making false lucrative offers to sell policies have been filed include ICICI Prudential and Reliance Life,Finance Minister P Chidambaram informed the Rajya Sabha in a written reply.
As compared to their private counterparts, the number of unfair business practice complaints filed against public sector behemoth LIC was significantly less during 2012-13.
Insurance regulator Irda, Chidambaram said, "based on its own enquiries, levies penalty on insurance companies wherever a case of unfair business practice is established".
Based on the data by the Finance Minister, the total number of unfair business practice complaints have shot up to 1.68 lakh in 2012-13, from about 1 lakh a year ago.
During the year, the number of complaints filed against HDFC Standard Life during 2012-13 stood at 33,813 followed by Bajaj Allianz (21,745), Birla Sun Life (21,651), ICICI Prudential Life (16,891) and Reliance Life (16,401).
In case of LIC, which is the largest insurance company in the country, only 2,538 complaints regarding unfair business practice were received by Irda.
vinay mohanty
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