Term Insurance vs. Whole life or Permanent Insurance - A Car Analogy

Interesting article ....
Think of a term life insurance policy as leasing a car. When you lease a car you get the benefits of using the car, but when you stop paying you don't have a car anymore. As with term insurance as long as you pay your premiums you get the benefit of the term life insurance policy, but when you stop paying, you no longer have any coverage.

10 Key Reasons Why A Person Needs Life Insurance

Here is again some basics -
Insurance is designed to protect a person and the family from disasters and financial burdens. There are many kinds of insurance of which, the basic and most important is considered to be life insurance. It provides for the dependants after your death.

Investing with insurance: a bad risk

Is it a good idea to attach an investment account to your life insurance policy?
See what experts says on this.
Walter Updegrave has a simple answer: Don't do it.
..and I do agree with Walter .. keep investments separate from life insurance... you bet you will get more returns.

Accenture Releases Enhanced Life Insurance Platform with New Product Configuration Engine

Accenture (NYSE:ACN) has introduced the Accenture Life Insurance Platform, an enhanced version of the former NaviSys policy administration and new-business processing platform featuring flexible new product configuration tools designed to help insurers develop and launch new products more quickly and efficiently.
The new product configuration capability leverages Asynchronous JavaScript and XML (AJAX), a technique for developing interactive web applications, to allow users to drag and drop new-product rules at any point in the insurance policy administration process.

Read on Enhanced Life Insurance from Accenture.

How do I pick a life insurance company?

Tricky question ! :-)

Roughly 1,000 life insurance companies sell life insurance in the U.S., but many are members of groups of companies and so aren’t really competitors with each other.

Learn on the points to ponder when selecting a life insurance company.

Maruti - Jindagi ke saath bhi .. jindagi ke baad bhi ..connection

The government today approved the sale of its remaining 10.27-per cent stake in passenger car maker Maruti Udyog in which India's largest insurer, Life insurance Corporation (LIC) emerged as the second-highest shareholder with a 12.5-per cent stake behind Suzuki's 54 per cent.

Why should I purchase permanent insurance?

If you have the above question .. I would say why not ??
A permanent life policy provides lifelong insurance protection. The policy pays a death benefit if you die tomorrow or if you live to be a hundred. (hundred.. hummm :-))...
Let me give you some more facts -
- You can lock the premiums when you purchase the policy (premiums will not increase with your age)
- The policy will accumulate cash savings.
- You can use this cash value to pay your premiums
- Borrow from the insurance company using the cash value in your life insurance as collateral.

Read on some key points on Why should you purchase permanent insurance?

SBI Products - One for micro one for health

With 88% increase in net profit at Rs3.83 crore this year as against Rs2.02 crore last year, SBI is planning to come up with two more products in the by July this year.
Look at the increase in premium, total premium is increased by 172% at Rs2,928.49 crore in 2006-07 compared to Rs1,075.32 crore the previous year.
I would say SBI is shining for sure !!!

Insurance companies plans to hit IPO

India is one of the fastest growing insurance markets with companies clocking in triple digit growth.
For most of the players it is the crucial investment stage where they have to pump in money to build their distribution network and also to meet regulatory requirements.
So the next time you get an insurance cover you may also get to check its stock price to find out how well it is doing.

Check this out ... Insurance companies plans to hit IPO

The changing face of insurance

Investment and insurance are usually considered to be inversely proportional. This is mainly because insurance is meant to cover your life. So even if insurance products may not offer higher returns, it always makes sense to have a cover.

On the other hand, investment is viewed as a vehicle that will help you multiply your money. Therefore, one always discusses investment in terms of returns offered.

Read on about the changing face of insurace.