Life Insurance: Deepak Sood

Business Standard

The insurance sector in India is still far from Solvency II norms, as the country does not have the requisite statistical database.

Database not enough for solvency II

The first-year premium collection by life insurance companies fell 12.3 per cent in April-May compared to the corresponding period last year. According to the Insurance Regulatory and Development Authority, during the first two months of the financial year, the 23 life insurers collected Rs 12,253 crore by writing new policies, as against Rs 13,967 crore a year before.

April-May sees substantial dip in life insurance premia collection

Without adequate cover, you may have to dip into savings or borrow, in case of emergencies.

Must for a healthy financial future

Your plan to switch your existing health insurance policy from a non-life insurer to a life insurance company may not be possible, at least for now. The insurance regulator is likely to confine the portability of health insurance policies to non-life insurance companies.

Health policies by life insurance companies will not be portable

Jeevan Arogya is the first defined health insurance product to be introduced by India&rsquo;s largest life insurance company, LIC of India. It will pay the customer a fixed daily cash amount as well as cover specific surgeries.

Not a standalone policy 

ING Vysya Life Insurance today said it would come up with two new unit-linked plans, a majority of whose corpus will be invested in the stock market, by January.

Vysya Life to launch 2 new Ulips

Press Trust of India

Concerned about the fast pace of regulatory changes being brought into the sector, the life insurance industry has approached sector regulator, Insurance Regulatory and Development Authority (Irda), to go slow in its approach, sources said. In turn, Irda has assured industry players that it will go slow in bringing regulatory changes from next year, a move that will bring some respite to the players, the sources added.

Life insurers seek slower regulatory changes

&quot;We will be coming out with a traditional child plan and a ULIP in January 2011. We would like to reach out to more and more consumers and also focus more on training of our agents&rdquo;, Abhinav Rahul, vice president (corporate communications) told media persons.

Max New York to roll out two new products in Jan

Aided by government health schemes and correction in rates, insurance for health and personal accidents recorded highest growth in the non-life insurance segment during the first half of the financial year.

Health insurance grows 42% in H1

I own a farmhouse in Lonavala. I have a caretaker who looks after the house. We only have basic furniture and utensils there, and no valuables.

General Insurance: Gaurav Garg

Launching the ING Market Shield, its new unit-linked insurance plan (Ulip) here, Rahul Agarwal, chief distribution officer of ING Life, said, &ldquo;We would launch another single premium product under Prospering Life and the rest will be available by March.

ING Life to launch 3-4 products by March

A travel policy is not enough as most domestic ones do not provide health cover.

Get a health cover and have a relaxed holiday

Devotees may seek solace inside their holy precincts, but cash-rich and gold-laden temples across India are seeking somewhat less divine intervention to protect their riches: insurance companies. From priests, pilgrims, ornaments, buildings, elephants and even cattle inside temple premises, the insured list is quite extensive.

Temples seek solace in insurance

Pay attention to administrative and mortality fees.

Consider total charges on Ulip

A majority of hospitals empanelled under the flagship Rashtriya Swasthya Bima Yojana (RSBY), a cashless health insurance cover to below poverty line (BPL) families in the unorganised sector, are not prepared to treat patients under the scheme in the state.

Hospitals unprepared for national insurance scheme

New Ulip rules hurt, but premium collected by selling new policies rises 39%.

Life insurers' new business income falls 50% in November

Splitting your term plan with variable tenures will help.

How to keep pace with falling premiums

Insurers reduce dependence on Ulips after Irda&rsquo;s new norms shrink margins.

Traditional plans replace Ulips

Star Union Dai-ichi Life Insurance (SUD Life) is eyeing the vast rural market in Uttar Pradesh for future growth.

Star Union Dai-ichi Life Insurance eyes UP rural mkt

Returns on NAV-guaranteed plans are higher than debt products.

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