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Kamalji Sahay

Articles By Kamalji Sahay

64 Articles

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

Similarly, instead of knee-jerk announcements of lumpsum relief in case of death due to accident or any other cause, the PM’s Jeevan Jyoti Bima Yojana can be a wonderful support to the family in distress.

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

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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.

Time is one of the inputs to the magic of compounding, the mechanism that makes investment or the savings grow rapidly

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.

In this situation some people may have a feeling that the accident insurance cover taken by them either from life or non-life insurance companies will provide financial support to their families in case of coronavirus-related death.

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

Planning for making use of various financial tools is required because for everybody tomorrow’s responsibility is higher than what it is today.

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

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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

All these have shattered the confidence of the public in the banking system of our country.(Illustration: Rohnit Phore)

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

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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

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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

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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, personal finance

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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Investment deadline approaching: Do not buy life insurance just to save income tax

Tax exemptions are only incentives given to encourage people to buy life insurance in the absence of a comprehensive social security system

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Term policies: Why women need to buy life insurance

Policies purchased under MWP ensure that the proceeds are utilised for no other purpose than the welfare of the wife and children.

Buying insurance? Read the fine print first

Most complaints with Insurance Ombudsman reveal policyholders’ lack of understanding about insurance products.

insirance, insurance sector, insurance industry

How riders add value to your life insurance plan

The basic objective of buying life insurance is to provide maximum financial security to the dependants in case of untimely death of the policyholder.

Why most people still do not feel the need to buy insurance

Low density and penetration indicates that nothing significant has happened for Indians in insurance.

Filing an insurance claim? Keep these tips in mind

Irdai has instructed all insurers to settle claims of those affected by the recent Kerala floods as soon as possible.

Embedded value: Policyholders can question the LIC-IDBI Bank deal

Life insurers make money by investing the surplus that they accumulate every year and maintain this in a separate account known as Life Fund. The surplus is the difference between income and expenditure in the revenue account

How to grow insurance industry

There is a need to redefine potential customers and their insurance needs to ensure that the insurance industry grows at an accelerated pace.

Data analytics: The survival tool for insurers

Insurance companies have been slow to respond to changed market realities though they are sitting on mountains of data that can direct them to the needs of customers.

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Embedded value: How safe are assets managed by insurers?

The insurance industry must learn lessons from the banking sector as, overlooking the potential risk and vulnerability may prove costly to all stakeholders

Life insurance plans

Life Insurance: Buying a policy? Must understand these important things

The spurt in sale of unit-linked insurance policies (Ulips) after foreign insurers entered the market in 2001 has strengthened the perception that for accumulating fund for long-term needs such as higher education for childre

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