InsureRelaxInfo: August 2016

NACH facility for premium payment

Registration of New Business with NACH will start from 08/09/2016*

*Two month premium to be collected for proposal registration*

*Mobile No. & email id compulsory*

*A cancelled cheque and Separate Mandate Form required for each Policy (In case of multiple policies)*

*Bank verification is not required*

*NACH Form should not be folded, rolled up, stapled or torn*

*Policy holder will be informed by sms of acceptance or rejection of NACH*

*In case of rejection agent will be informed by sms*

*Rejection letter will be emailed to policy holder stating reason of rejection*

*Fresh NACH Mandate Form will be required in case of rejection*

*7th, 15th, 22nd, 28th will be debit date*

*Transfer from ordinary mode (Yly, Hly, Qly) to NACH has to be executed minimum 30 days in advance. Hence submit request letter and documents atleast 40 days in advance*

*Any alteration for existing NACH policies under mly mode can not be registered within 15 days of next due, hence submit well in advance*

*All current policies under ECS will not require any change, it will continue as it is*

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Direct Debit Facility For LIC Premium Payment

Have you missed to deposit your last LIC premium on time? Do find remembering the premium due dates a tiresome process? Do you have multiple policies with different due dates? You want to take policy in ECS mode but your bank is not connected to any ECS center? Then Direct debit facility is the solution for you, only requirement is you must have a bank account in ICICI, corporation bank or State bank of India. Till now LIC of India have tie up with these three banks only for Direct Debit.

This facility is different than the ECS system in which clearing house is also involved, while direct debit is a provision between LIC and bank, on due date bank deduct the premium from your account and deposit in the account of LIC of India pool account with same bank. After the LIC received your payments in its account it is then appropriated in your policy. Direct debit facility can be availed in any branch of ICICI, corporation and SBI even if they are not connected to ECS system. Even in through rural branched of these bank direct debit facility can be enabled. Direct debit facility is available for both new and existing policy holders of LIC of India.

Process of enabling direct debit facility is very simple.

Fill the form of debit facility in 2 copies
Submit one to bank (ICICI, Corporation or SBI)
Get the other copy attested and submit to LIC of India (Bank may charge for attestation as per their rules). Submission of attested mandate form to LIC of India is very important, LIC do not accept unattested mandate form.

Other important things about direct debit facility

Debit facility can be taken at any stage of policy and for any mode of premium payment
Bank account must have sufficient balance on debit date
Under this facility, only positive/honoured transactions will be accounted.
If dishonored due to reason “Insufficient balance” then dishonors charges Rs. 125 per transaction will be charged by LIC of India.
If any due is dishonored, payment for the dishonor due and all the installments due up to the date of payment are to be paid in cash or DD at any LIC Branch cash counter.
Debit facility will benefit the policy holders at locations where there is no ECS clearing house.

happ srikrishna astami

colletion of premiume in advance

Minimum business guaranty limits rejused

Flash * Flash * Flash
Another achievement of Mother LIAFI.
MBG revised with immediate effect....
6 lives & 50000 FYPI or 12 lives or 100000 FYPI.
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insurance cover to LIC agents

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Working of Swasthya Slate

The technology that made the instant diagnosis possible at Peeragarhi was medical device called the Swasthya Slate. This $600 device, the size of a cake tin, performs 33 common medical tests including blood pressure, blood sugar, heart rate, blood haemoglobin, urine protein and glucose. And it tests for diseases such as malaria, dengue, hepatitis, HIV, and typhoid. Each test only takes a minute or two and the device uploads its data to a cloud-based medical-record management system that can be accessed by the patient.
The Swasthya Slate was developed by Kanav Kahol, who was a biomedical engineer and researcher at Arizona State University’s department of biomedical informatics until he became frustrated at the lack of interest by the medical establishment in reducing the cost of diagnostic testing. He worried that billions of people were getting no medical care or substandard care because of the medical industry’s motivation in keeping prices high. In 2011, he returned home to New Delhi to develop a solution.

Kahol had noted that despite the similarities between medical devices in their computer displays and circuits, their packaging made them unduly complex and difficult for anyone but highly skilled practitioners to use. They were also incredibly expensive — usually costing tens of thousands of dollars each. He believed he could take the same sensors and microfluidics technologies that the expensive medical devices used and integrate them into an open medical platform. And with off-the-shelf computer tablets, cloud computing, and artificial intelligence software, he could simplify the data analysis in a way that minimally-trained front-line workers could understand.

By Jan. 2013, Kahol had built the Swasthya Slate and persuaded the state of Jammu and Kashmir, in Northern India, to allow its use in six underserved districts with a population of 2.1 million people. The device is now in use at 498 clinics there. Focusing on reproductive maternal and child health, the system has been used to provide antenatal care to more than 22,000 mothers. Of these, 277 mothers were diagnosed as high risk and provided timely care. Mothers are getting care in their villages now instead of having to travel to clinics in cities.

A newer version of the Slate, called HealthCube, was tested last month by nine teams of physicians and technology, operations, and marketing experts at Peru’s leading hospital, Clinica Internacional. They tested its accuracy against the western equipment that they use, its durability in emergency room and clinical settings, the ability of minimally trained clinicians to use it in rural settings, and its acceptability to patients. Clinica’s general manager, Alvaro Chavez Tori, told me in an email that the tests were highly successful and “acceptance of the technology was amazingly high.” He sees this technology as a way of helping the millions of people in Peru and Latin America who lack access to quality diagnostics.

beema awareness pro gramme

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health insurance awareness abhiyan 2016

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Insurance Awareness Film - Khushiyon Ki Suraksha | Bima Jagrukta Abhiyan 2016

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madhavi reddy financial planing tv 9 telugu

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One of the BEST Motivational Videos I've ever seen!

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Government To Launch Health Insurance For senior Citizens | Budget 2016

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TOP 5 INSURANCE COS IN INDIA

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TOP 5 BEST INSURANCE COMPANIES IN INDIA

Insurer To Pay For Snatched Mobile Phone

The District Consumer Disputes Redressal Forum has directed Smart App Shield and New India Assurance to pay Rs 61,000 along with compensation of Rs 5,000, besides Rs 2,000 as litigation expenses to Lakhan Arora whose mobile phone was insured by them.

Lakhan Arora had asked the insurers to pay the claim as the handset was snatched from him by unknown persons.

Earlier, Lakhan Arora, a resident of Ranjit Avenue, had filed a complaint against Smart App Shield having its office at South Model Gram, Ludhiana, and the New India Assurance Company.

Arora had purchased a mobile phone costing Rs 61,000 from a shop ‘Punjab Electronics’. He stated that the shopkeeper convinced him to purchase the Smart App Shield, which had an insurance arrangement with New India Assurance. The mobile insurance cover purchased at a cost of Rs 2,299 was to cover the risk of theft, breakage, water damage etc.

Arora’s mobile phone was snatched by unknown persons on December 3, 2014. After which he lodged a police complaint on Majitha Road.

He stated that he had submitted all documents demanded by opposite parties, but insurance amount was not paid even after six months.

In its reply, New India Assurance stated that the complainant was not a consumer of theirs and as such he had not paid any premium to the firm.

However, the forum observed that the complainant had produced on record the customer copy of the insurance policy and the police complaint along with untraceable report. It stated that opposite parties failed to pay the insurance claim to the complainant without any reasonable excuse.

parameters consider while buying term insurance

Term insurance plan forms a core of a financial plan hence, everyone needs to have it. But before buying a term insurance plan here are few parameters to consider to make a right decision.

Sum assured: Typically, a minimum sum assured of ten times of your annual income is recommended. You should adjust this upward for any major liability such as mortgages. Premium rates for term insurance increase with length of coverage.

Riders: One important rider to buy with term insurance is critical illness rider. This rider will pay you a lump sum in case you are diagnosed with any of the specified critical illnesses.

Selecting insurer: You can choose an insurer based on the offered premium and its claims settlement ratio.

You can also buy multiple term insurance plans with same or different sum assureds. You can have the same or different plan durations as well. But you will need to disclose to the second insurer that you have an existing life insurance plan, with details of coverage.

The 72nd EC Meeting of LIAFI will be held at Jaipur,Rajasthan on 25th and 26th September 20016

N. Gajapathi Rao
All India Office bearers,
All Zonal Officebearers
LIAFI EC Members
Div Presidents /Secretaries

Dear Sirs,

The 72nd EC Meeting of LIAFI will be held at Jaipur,Rajasthan on 25th and 26th September 20016.
All India Office bearers and Zonal President & Zonal Secretary shall meet on 24th September 2015 at 3:30PM. Kindly plan your journey accordingly. Detailed agenda and other particulars are posted.

Thanking you

N. Gajapathi Rao
Secretary GeneralSecretary General

maa bharati vandematharam

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happy indipendence day to all my friendsand hindustani

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mediclaime enhanced circular with spouse cover letter

mediclaime enhancement

Flash Flash Flash !!!
We are extreamly happy to share one more Good news for the Club Members' that the "GROUP MEDICLAIM INSURANCE FOR AGENTS" has been Enhanced as follows :
1) Corporate -5 Lakhs.
2) Galaxy - 4 Lakgs
3) CM -3 Lakhs
4) ZM - 2 Lakhs
5( DM - 1.5 Lakhshau
6( BM - 1 Lakh. Including Spouse is under consideration. All the Club Memvers are requested to contact your branch & giive your consent & date.

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Govt-to-provide-universal-insurance-for-all-road-accident-victims/

Soon government will provide universal insurance cover to all those who get injured in road crashes so that they are not deprived of immediate medical care.

The road transport ministry in its proposed amendments to the Motor Vehicles Act has provisioned for a fund that will ensure free treatment of grievously injured victims.

The provision gains significance considering the fact that at least 5 lakhs people were left injured in road crashes last year. And according to government reports at least 50% lives could be saved if they get quick medical care within the first one hour of a crash. Road crashes claimed 1.46 lakhs lives in 2015.

According to the bill, the fund can be created by collecting certain cess or tax, any grant or loan made by the central government or any other source of finance as may be prescribed by the government.

The bill states that the fund should be utilized for treatment of grievously hurt persons, for paying compensation to representatives of persons killed or seriously hurt in hit and run motor crashes.

Government would come out with the maximum liability amount that should be paid in each case.

In cases of people who have medical or life insurance cover, the payment made by government should be deducted from the claim they receive from the insurance companies.

The bill also provisions that the central government should launch a scheme for cashless treatment of victims of road crashes during the golden hour (first hour of crashes).

MDRT made easy

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become LIC agent and earn as you want

contect for agency : Mr.Vinay 9396258548, 9848258548, (only at visakhapatnam, srikakulam,vizayanagaram area)

happy friendship day

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Srikanth boll visually impaired ,rejected by IIT, now ceo of 50 crore company

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573 (Income tax) How to File Tax return for LIC Agent (ITR 4) (AY 2014 15 )(Tushar)

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"Insurance premium rates will go up by 50-300 basis points when GST is passed

GST to make insurance costlier by 300 bps
By Shilpy Sinha, ET Bureau|Aug 03, 2016, 05.17 PM IST

Term plans will be the most hit which will become costlier by 300 basis points. A basis point is one-hundredth of a percentage point.
MUMBAI: Your insurance policies- life, health and motor will begin to cost more from April 2017 as you would end up paying up to 300 basis points more in taxes. This could pinch the middle class more as they continued to depend more on insurance for savings than other investments like stock markets. Indeed, the pure protection may cost more than the unit-linked insurance plans.

There are two parts of insurance and service tax is levied on the protection part and not the investment part. Term plans will be the most hit which will become costlier by 300 basis points. A basis point is one-hundredth of a percentage point. Service tax of 15% is levied on term plans, which are pure protection. This will go up to 18% in the new regime.

At present, service tax of 3.5% is levied on protection part of endowment and unit-linked life insurance policy in the first year and 1.75% from second year onwards. This would go up to 4.5% in the first year and 2.25% from second year onwards.

"Insurance premium rates will go up by 50-300 basis points when GST is passed," said Naresh Makhijani head of financial services KPMG. "There is greater challenge in complying with the GST laws, deciding on where to pay tax. If the proposal is accepted in one state but the policy is issued from another, where does one pay premium?"

The industry believes that higher tax rate will have a negative impact on the insurance industry. Life insurance penetration has shown negative growth over the last few years. It has dropped from 4.6% in 2009 to 2.6% in 2016.

Also, you will have to pay 300 basis points more for motor, health and other general insurance products. Service tax of 15% is levied on general insurance products. This will go up to 18%. "Apart from policies becoming costlier by 300 basis points, processes will become cumbersome and we will have to see if we need to register in each state," said Ritesh Kumar managing director and CEO HDFC Ergo.

The life insurance council- representative body of life insurance companies- has asked the finance ministry that GST be levied only on the premium collected by the insurance companies only for their life insurance services, excluding the investment portion where the insurance companies act purely in a fiduciary capacity.