EMBEDDED VALUE: Life insurance industry needs to look at its business in a different way
A few unfortunate children run the risk of losing either or both parents due to accident or disease, leaving them helpless and at the mercy of others.
Embedded Value: New areas of insurance unfold in Covid-19 pandemic
Health coverage during overseas trip due to flight cancellation, forced quarantine abroad at own cost, rent for house not in use, cost of vaccination are all opportunities for insurance companies
Embedded Value: Life & health insurance more critical today
Death due to Covid is covered under any life insurance policy while Covid patients are fully covered by any standard health insurance policy
Embedded Value: Informed purchase easier on digital platform
Digital marketing offers full transparency helping the insurance buyer take an informed decision
How insurance aggregators can convert enquiries into actual sales
The web aggregators offer price comparison, claim settlement ratio and broad features but are silent on issues which may call for one-to-one discussion or explanation.
Embedded Value: Buy insurance for long-term protection, not just to save tax
Exiting a policy contract, after the cooling off period as provided by the insurance regulator, is almost impossible though one can surrender the policy after keeping it in force for a certain number of years.
Embedded Value: A need for innovative insurance products
A policy with a wide range of benefits that could enable a policyholder to overcome challenges due to the Covid-19 pandemic is urgently required
Embedded Value: What LIC’s proposed IPO means for investors
LIC has the potentiality to generate wealth for investors due to its consistent growth record, firm grip on market share and an enviable claims settlement record
Embedded value: Align policy term with rising life expectancy
A life insurance policy has to fulfil the needs that arise not only due to premature death but also due to prolonged existence
Embedded Value: When claim is rejected due to suicide clause
However, suicide after one year of taking a life insurance policy is considered as good as death from natural causes and claims are settled without any hassles
Embedded Value: Time for no-frills policies, online purchase
The pandemic has upset many age-old assumptions about financial security and has put the focus on preparedness to tackle the worst. Now all these need to be offered without massive paperwork that insurers generally heap upon
Embedded value: Know how life insurers make money
In almost all the predictable scenarios, the actual death claim experience is better than what is assumed for pricing each product.
Embedded value: When all else fails, life insurance works
Universalising life insurance can help citizens in case of a financial crisis, whether at individual or national level, during their lifetime as well as after death
Embedded Value: Your life insurance policy can help you now
From offering financial protection against any eventuality in the time of Covid to raising a loan to meet your daily expenses, a life insurance plan can literally be a life-saver
Embedded Value: Plan for the year with insurance as first step
Now is the time to assess where you are in relation to financial goals, tax planning & cash inflows.
Embedded Value: Covid-19 not covered by accident insurance
Life insurance claims to the extent of basic sum assured if policyholder dies due to infection by the corona virus is admissible.
Financial planning: Work on financial plan that utilises tax incentives
Good planning enables one to meet various challenges at different stages in life and also maximise growth of funds and minimise impact of inflation
Rushing to buy insurance now? Don’t end up with a wrong policy
Every year young people find employment and at least 15-20% of those who join the organised sector earn taxable income.
Rushing to buy insurance now? Don’t end up with a wrong policy
Understand the terms and conditions of each life insurance policy before you sign on the dotted line
Insurance selling: Why new firms need to show they have better products and service standards
Credibility is a by-product of a very systematic and conscious effort to live up to the expectations of the customers, not once but almost every time.
Embedded value: Can an insurance company go bankrupt?
Following the PMC Bank scam, policyholders are also worried about their investments in insurance companies. However, the Insurance Act provides several safeguards for policyholders
Embedded value: Know the risks inherent in unit-linked insurance plans
Unit-linked insurance plans are stock market investments. Policyholders should understand when to switch funds to get good returns & highest safety
Check how victims can be compensated at time of natural or man-made disasters
A group insurance cover funded jointly by the government and individuals can be used to compensate victims affected by natural or man-made disasters
Embedded value: Life insurers need to be wary of Mutual Fund challenge
If mutual funds turn their focus on those states which have been traditional grazing ground for life insurance firms, the latter could be in trouble
Why life insurers must focus on training agents
Rapid growth in new business requires agents to be trained and made productive irrespective of growth in the online or digital marketing.
Life insurance firms must take inputs from youngsters for customised products, here’s why
As the country's demography is changing fast, life insurance companies must take inputs from young people in designing customised products for them.
Providing adequate life insurance cover and annuity plans should be vision statement of insurers
The vision statement of a company describes where the organization or the company wants to be by fulfilling its mission.
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- Windows 11 announced with new design, improved multitasking and simplified Windows Store
- Mukesh Ambani: 3 lakh small merchants, shopkeepers selling on JioMart; over 1 crore to join in 3 years
- Corona LIVE: India’s cumulative Covid-19 vaccination coverage exceeded 30.72-crore mark
- RIL’s full 5G service gets closer: Mukesh Ambani spells next growth phase for Jio, Reliance Retail
- New RFI issued for the long delayed FICV for the Indian Army
- 73% SMEs didn't make any profit during FY21 amid Covid; majority insecure about future: CIA survey
- Covid Effect: Ayurveda immunity products demand spike in Delhi, Mumbai, Bangalore during 2nd wave
- What will be the value of Rs 1 crore after 15, 20, 30 years?
- JioPhone Next: A quick first look at Jio's first 4G smartphone, features, availability and other details
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