Wednesday, December 30, 2009

OSWEGO, NY: Local School District Partners with Insurance Company to Offer Free Life Insurance

Truly amazing!!!
A local school district is partnering with insurers to offer free life insurance to pay for a child's education in the event of a parent's death!!!

Read on complete news: Local School District Partners with Insurance Company to Offer Free Life Insurance

Source: (WRVO)

Max India: Funding long-term growth - Profits are still some time away

Max is trying its best balancing expansion, profitability and expenditure. This article states that the operating expenditure of the company is on higher side (well ..highest in the industry) and unlikely to come down in near future as company continues to expand its business.

Read on - Max India: Funding long-term growth

Saturday, December 26, 2009

An introduction to General (Non-Life) Insurance Companies of India

In today’s age of consumerism, insurance requirements have expanded to keep pace with the increasing risks. Gone are the days when life insurances ruled the roost; today we have a wide assortment of risk coverage commencing from health insurance to travel insurance to theft insurance to even a wedding insurance. With affluence and spending capacity on the surge there is a growing trend to fulfill needs, deal with responsibilities and secure one’s possessions, be it good health or wordly wealth.

Read on more on Introduction to General Insurance companies of India


Thursday, December 24, 2009

IRDA allows products combining life and health insurance

Very appreciative step by IRDA (India). IRDA has approved products combining Life and Health Insurance. I am sure the products will be very competitive and consumer will get a good package combining both.
The Insurance Regulatory & Development Authority (IRDA) on Wednesday allowed a new product class Health plus Life Combi Products for promoting the combined products of pure term life insurance offered by life insurance companies along with standalone health insurance products offered by non-life insurance companies under the single product umbrella.
.... Read on
IRDA allows products combining life and health insurance

Tuesday, December 22, 2009

Life insurers out of slump

Dec. 21: The Indian life insurance industry appears to be coming out of recession on the back of a 21 per cent growth in premium collections.

According to Mr S.B. Mathur, the secretary-general of the Life Insurance Council, "During October 2008 to March 2009 period the new premium collection witnessed negative growth. In this scenario, we can say that life insurance industry has come out of recession. For the April-October period, single premium policies witnessed a surge of around 42 per cent, with investors preferring non-linked policies signifying a clear trend towards traditional policies."
The total premium during first seven months of this fiscal rose to Rs 1,20,503 crore from Rs 99,310 crore in the corresponding period last year, Mr Mathur told this newspaper.

The latest data released by the Life Insurance Council, the industry body for all the life insurance companies in India, reveals that the renewal premiums increas-ed by around 24 per cent to Rs 73,952 crores, while new business premiums increased by around 18 per cent to Rs 46,551 crores on y-o-y basis.

Mr Mathur further said: "Total benefit paid to policyholders was Rs 34,021 crores, a rise of over 25 per cent as compared to Rs 27,179 crores last year. Private life insurance companies paid total benefits of Rs 6,996 crores a rise of 101 per cent from Rs 3,469 crores last year."