Life Insurance: An Interview with Insurance Expert Anthony Steuer

Back to the basics...
Although discussed many times, still many of us tend to misunderstand the basic need of life insurance and get easily caught with questions like - "How do I know how much life insurance do I need" or "Term Vs Whole Life insurance" or "Should children have Life Insurance" etc.
Here is an interview with an Insurance Expert Anthony Steuer who answers the above questions (and many) in layman's language.

Read on: Life Insurance: An Interview with Insurance Expert Anthony Steuer
Source: http://insurance.lovetoknow.com/

Money-Minder criticizes life insurance comparison sites

Comparing life insurance product is not always as simple as it might seem; here is an article that talks about the "watch-outs" of the sites those compares the Life Insurance products -
Comparison sites can make buying financial products on the web transparent and hassle-free. But when it comes to comparing life insurance, not all comparison sites are what they seem.
Read on complete article - Money-Minder criticizes life insurance comparison sites
Source: http://www.privatehealth.co.uk/

S&P Cuts Manulife Rating To A+, Outlook Negative

hummmm.......
Standard & Poor's Ratings Services has lowered its long-term credit rating on Manulife Financial Corp. (MFC) to A+ from AA- and withdrawn its ratings on John Hancock Financial Services Inc. (JHF) following the completion of Manulife's planned subsidiary reorganization on Dec. 31.

Read on: S&P Cuts Manulife Rating To A+, Outlook Negative
needs registration though :(
Source: Wall Street Journal

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: www.publicbroadcasting.net (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
Source: www.business-standard.com

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

Source: www.medindia.net

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

Life insurers out of slump

Mumbai
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."

Source: AGE CORRESPONDENT (www.samachar.com)

IRDA - What is new (August 2009)

Here are the new regulations/guidelines/publication posted at IRDA site for this month (August 2009):

• Unit Linked Products- Cap on Charges
• Employment Notice (Last Date:10/09/2009) Application format for Employment Notice(Last Date : 10/09/2009)
• Requirement of PAN for Insurance Products
• Role of Appointed Actuaries
• Public Notice
• Insurance Qualification of the Corporate Agent
• Guidelines on Corporate Governance for the Insurance Sector
• Audit of Investment Risk Management Systems & Process, Internal / Concurrent Audit
  Notice- Surveyor-Nov 2009 Examination

This might be a partial list, please visit IRDA site and click 'What is New?' for the complete list.

Mutual or publicly owned: Which is best insurance company

Did you ever care if you are buying the policy from Mutual or publicly owned insurance company ? I know after what happend to AIG, people are more careful now a days.
Okay let me ask you this, do you know the what is Mutual insurance company and Publicly owned insurance company.

Simple definition:
Mutual insurance companies are owned by policyholders.
Publicly owned insurance companies are owned by stockholders.

Article below brings some interesting points about what to consider before you choose an insurance company -
Read on - Mutual or publicly owned: Which is best insurance company for you?