INSURANCE


Raj Pradhan Raj Pradhan 04 January 2011
After Jaslok Hospital, other hospitals are lining up to join the preferred provider network in a major breakthrough for insurers that will bring relief to mediclaim policyholders To the relief of the consumers, more and more hospitals are joining the Preferred Provider Network (PPN). Jaslok of...

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Debashis Basu Debashis Basu  and   Raj Pradhan Raj Pradhan 30 December 2010
Comparison and aggregator sites on financial products offer information, plans, advice & transactions. Is it safe and smart to use them? You go to a website, search various options to buy financial plans, funds, insurance, loans, credit cards, bank products and corporate fixed deposits. You...

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Moneylife Digital Team 30 December 2010
The new name given to universal life plan (ULP) is variable insurance plan (VIP), but it should not get VIP treatment from investors as the returns will be as pathetic as those of other traditional products. VIPs will only be offered under non-unit-linked platform, implying that they will now be...

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Moneylife Digital Team 30 December 2010
If the insured live longer, insurance companies have less to pay by way of mortality charges. So, increasing longevity should lead to lower mortality charges. But many insurance companies have increased it probably because it is outside the purview of IRDA’s cost cap. It may be just another...

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Moneylife Digital Team 30 December 2010
A mediclaim policy only reimburses the expenditure incurred on the treatment of the illness at a hospital. There are several other expenses that are, typically, incurred which mediclaim policies do not reimburse. Expenses such as travel, attendant’s lodging, loss of income (for the patient...

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Moneylife Digital Team 30 December 2010
Bharti Axa Life Insurance has used this insight to promote its insurance package, with a promise that claims will be settled within 48 hours flat. The promise is only applicable for ULIPs and not for term insurance. The insurer will settle only the fund value of the plan and not the sum assured....

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Moneylife Digital Team 30 December 2010
HDFC Life has jumped on to the bandwagon of the popular single-premium ULIPs with its ProGrowth Maximiser. The single premium charges have not changed much since 1st September when the new IRDA guidelines became effective. ProGrowth Maximiser provides three investment options—highest NAV (net...

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Raj Pradhan Raj Pradhan 23 December 2010
Reliance General market share has dropped to 3.87% in Apr-Sep 2010, from 6.22% in the previous corresponding period. Data reveals that the decrease in business is across most segments Reliance General's gross premium underwritten is down by over 21%. This is at a time when the general...

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Raj Pradhan Raj Pradhan 22 December 2010
New ULIPs that are hardly better than the old ones, the ban on ULPs, and mediclaim policyholders hit by the cashless imbroglio. It’s been a tumultuous ride for insurance customers in 2010 Given the frequent headlines about various interventions by the Insurance Regulatory and Development...

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Moneylife Digital Team 16 December 2010
But you should consider these other factors as well The convenience of buying insurance online needs no elaboration. There are times when one needs to buy insurance for tax savings before the end of a financial year. If you are running out of time or need savings on premium, you can go online....

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Moneylife Digital Team 16 December 2010
Share your costs with the insurer ‘Co-pay’ simply means that the policyholder pays a certain percentage of medical costs while the rest is paid by the insurer. The percentage can vary between 10 and 30 in most cases. If your co-pay is 20% and the claim amount is Rs1 lakh, you will shell out...

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Raj Pradhan Raj Pradhan 16 December 2010
Agents are luring customers through SMSs to buy insurance, using gold as a bait. These fly-by-night operators even insist that you sign up for the policy in the first meeting itself. But don’t fall for this, whether it is insurance, pension or any other investment Dubious investment,...

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Moneylife Digital Team 01 December 2010
Are these options really worth it? You realise the importance of having health insurance in times of rising medical bills and expensive new forms of treatments; then you get the cover of a health insurance policy for yourself and your family—only to find that the insured amount is insufficient....

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Moneylife Digital Team 01 December 2010
The Insurance Regulatory and Development Authority (IRDA) has finally woken up to the ill-effects of universal life policies (ULPs) and imposed a ban overnight. The question to ask is: Why were these products allowed in the market in the first place? It gave insurers ample time to make a...

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Moneylife Digital Team 01 December 2010
Launches Pune-based in-house cell for claims processing Future Generali India Insurance will launch Future Generali Health (FGH), an in-house cell for servicing health insurance clients in Chinchwad (near Pune) from 1st November. Through its in-house cell, Future Generali will directly service...

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Moneylife Digital Team 01 December 2010
Birla Sun Life Insurance has launched ‘BSLI Platinum Advantage Plan’. One of the professed advantages of the BSLI Platinum series is that it safeguards against the possible downsides of the equity market through a guarantee of highest daily net asset value (NAV) over seven years. The new Plan...

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Moneylife Digital Team 30 November 2010
Longevity should reduce mortality charges. Instead, many insurance companies have resorted to increasing it. It could be just another way to deceive customers and fill their coffers through the additional charges The average life expectancy in India for males has increased from less than 60...

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Moneylife Digital Team 18 November 2010
Max Bupa Health Insurance is offering Family First Health Insurance Plan that combines benefits of individual and floater mediclaim policies for 13 relationships in extended families. This is in addition to the cover for spouse and children as well as removing the age-related restrictions of...

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Moneylife Digital Team 18 November 2010
Senior citizens have a tough time getting a health cover. Among the few options available are: Varistha of National Insurance, Silver Health of Bajaj Allianz, Red Carpet—Senior Citizen Policy of Star Health and Allied Insurance and HOPE–Health of Privileged Elder of Oriental Insurance. Senior...

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Moneylife Digital Team 18 November 2010
Loading is the amount charged by the health insurance company on your renewal premium when you make claims against your policy. According to Mahavir Chopra, head of e-business at Medimanage.com, a health insurance broking firm, “Even if you are buying a policy without loading this year, nothing...

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