March 7, 2012
Birla Sun Life Gold Fund NFO
Birla Sun Life Gold Fund NFO
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December 25, 2011
ICICI Pru LifeLink Wealth SP
ICICI Pru LifeLink Wealth SP is a unit linked insurance policy from icici prudential insurance company. It is a single premium insurance policy which means that you will pay one time premium at the time of purchasing this policy. Like other ULIP policies, you will get investment along with life insurance cover.
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December 25, 2011
ICICI Pru LifeStage Wealth II Details
ICICI Pru LifeStage Wealth II is a unit linked insurance policy from icici prudential life insurance company. It offers you the fund choices for investment along with life insurance cover.
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December 23, 2011
HDFC Life Click 2 Protect
HDFC Life Click 2 Protect is a term insurance plan which can be bought online. HDFC Life Click 2 Protect plan’s USP is its online availability. New, young & tech savy customers are looking for an option where they purchase life insurance policies online and hdfc is targeting them through this policy.
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December 23, 2011
Birla Sun life’s Protector plus plan
Birla Sun life’s Protector plus plan
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October 10, 2011
Loyalty addition in Life Insurance
Loyalty addition in Life Insurance is a relatively new term but somewhat similar feature. Unit linked Insurance policies used to be the hottest life insurance products till last year. In fact they were on par with mutual funds. But they way these policies were structured and sold use to create a lot of controversies. They were insurance products but were sold as investment products and in the backside, loaded with the charges. Insurance regulatory and development authority of India took many steps to control it. And finally when it changed the entire structure of unit linked insurance policies, it almost ended the sale of ULIP policies in India. It was a huge set back for these mushrooming life insurance companies which were getting 80 to 85 per cent of their business from these policies.
Loyalty addition in Life Insurance represent a huge change in the approach of Life Insurance companies in India. Life Insurance till last year was more about selling ULIP policies and less about servicing those policies. IRDA bought massive changes in order to restore sanity in the Life Insurance Industry. They structured the product in such a way where servicing a policy became as important as selling it.
Loyalty addition in Life Insurance basically represent this shift. It is a kind of bonus which is given to the policy holder for encourage a policy holder to remain invested in the policy. It is basically awarded as percentage of annual premium. It could vary with company to company and policy to policy. It could be something like 5 per cent of the annual premium. It is either paid at the policy maturity along with the maturity benefit or at regular intervals like every 3 or 5 years.
Loyality addition in Life Insurance is to ensure that insured is continuously remain invested in the policy. Loyalty additions are being offered on most of the life insurance policies currently available in the market like Unit Linked Insurance policies (ULIPs) as well as endowment policies. But that doesn’t mean that investors should stop looking at other features of the product like charges and get carried away.
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September 14, 2011
Term Insurance Quotes
Term Insurance Quotes play a huge role in final purchasing decision of the customers seeking term insurance. Term Insurance policies are inexpensive and low cost life insurance products. They are affordable and nowadays readily available through online life insurance related website. There are numerous website which can give you term insurance quotes online. But one of the most important factor is often ignored is the company’s claim ratio. Term insurance quotes are the premium amount one has to pay to get Term Insurance.
Term Insurance Quotes are relatively lower than other type of life insurance products. Term insurance is one of the cheapest life insurance product available to the customers primarily because Term insurance policy do not provide any maturity benefit. Therefore, they are the cheapest insurance product in the market.
Term Insurance Quotes mainly depend upon the mortality rate of that age group and amount of insurance.As mentioned earlier, they do not provide any maturity benefits, though, one can get a option of return of premium term insurance policy where premiums are refunded at the end of the policy term if insured survives.
We tend to give more importance to the cost while purchasing most of the products. But in case of term insurance, this should not be the case. One of the biggest reason for that is less difference in the term insurance quotes offered by most of the insurance provider for a given age and amount.
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February 15, 2010
Life Insurers stretching to Break even
Life Insurance Companies in India are trying very hard to maintain profit and consequently, Break even. Ten years ago, a survey has predicted that life insurance industry will grow at rate of (CAGR) of 18.9 per cent. The actual growth has been much faster than anticipated and sector has grown at rate of (CAGR) 25.16 per cent. From the annual premium collection of Rs 21,581 crore in 1998-99, the sector has grown to Rs 2,21,688 crore last year.
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