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eServe Newsletter October 2011
eServe wishes you
a Happy Diwali
&
Prosperous New Year!!!
Be honest, don't hide facts while taking cover.
10-Oct-2011 Source : Indian Express
You often come across high pitch, 'emotional' advertisements of various life insurance companies talking about how you can sleep peacefully after buying life cover from them.
While it does make lot of sense in insuring one's life to take care of the financial requirements of your family, in the case of your unfortunate death, it is equally important to make sure that the claim is not rejected by the insurance company, that too for hiding facts.
Question & Answers by Mr. D. K. Mehrotra, Acting Chairman, LIC.
16-Oct-2011 Source : Business Standard By Niladri Bhattacharya.
Conventional products, which provide a regular flow of premium, is the lifeline for any insurer, says D K Mehrotra, acting chairman of the country's largest life insurer, Life Insurance Corporation (LIC) of India. In an interview with Niladri Bhattacharya, he says allowing banks to sell multiple insurers' products would not prompt banks to act like brokers. Edited excerpts:
Q. 01. Since the new guidelines on unit-linked investment plans (Ulips) were introduced in September 2010, sales have taken a beating, though LIC's share rose. How do you assess the current market conditions? Is it a concern?
Ans.: Before September 2010, the life insurance industry was riding on Ulip sentiments, and the guidelines affected Ulip sales. It also impacted us, but we managed to show positive results. Ulip sales have also been hit by the volatile market conditions. Ulips were perceived to be investment products, rather than risk covers. This distorted the sale of the product. However, there is huge potential for Ulips, once the market conditions improve. But till that time, we are focussing more on conventional products. It is fact that LIC's market share has gone up, but total industry sales have come down. This means the insurance pie in the market is shrinking. It should ring a bell for everybody today, since this is a big concern.
Click here to read more such essential question and answers.
LIC wins 'Best Insurance Company' award 2011
D K Mehrotra, Current in- charge, Life Insurance Corporation receives the"Overall Best Insurance Company" award from Union minister for Corporate Affairs Veerappa Moily. The award was conferred on the insurance giant by MCX CNBC TV18 in recognition of its performance across all areas. LIC Housing Finance Corporation also received the award for the "Best Housing Finance Company."
An Article on Critical Illness Policy
Click on the image to read article