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General Insurance services among the relief offered by Govt. to rupee hit e
2007-10-07 22:01:00
Government today expanded the scope of service tax refund paid to exporters and increased the number of sectors eligible for reduced interest rates on pre-shipment and post-shipment credit to provide much-needed relief to businesses against an unabated rise in rupee.Exporters would now be given a refund of taxes paid on seven services, instead of four allowed earlier. The new services to be included in the scheme are general insurance, technical testing and analysis, and inspection and certification.The Centre had last month announced exempting services rendered by ports, road transport and railways from the purview of tax.It has also allowed payment of interest on an amount up to a maximum of one million dollars kept in Exchange Earners Foreign Currency accounts. The rate of interest, however, will be decided by the banks and the measure would be valid up to October 31, 2008.Besides, "such accounts should be in the form of term deposits, with a maturity of one year," the Finance Mi...
More About: Services , Insurance , General , Relief , Rupee

General Insurance services among the relief offered by Govt. to rupee hit e
2007-10-07 22:01:00
Government today expanded the scope of service tax refund paid to exporters and increased the number of sectors eligible for reduced interest rates on pre-shipment and post-shipment credit to provide much-needed relief to businesses against an unabated rise in rupee.Exporters would now be given a refund of taxes paid on seven services, instead of four allowed earlier. The new services to be included in the scheme are general insurance, technical testing and analysis, and inspection and certification.The Centre had last month announced exempting services rendered by ports, road transport and railways from the purview of tax.It has also allowed payment of interest on an amount up to a maximum of one million dollars kept in Exchange Earners Foreign Currency accounts. The rate of interest, however, will be decided by the banks and the measure would be valid up to October 31, 2008.Besides, "such accounts should be in the form of term deposits, with a maturity of one year," the Finance Mi...
More About: Services , Insurance , General , Relief , Rupee

General Insurance services among the relief offered by Govt. to rupee hit e
2007-10-07 22:01:00
Government today expanded the scope of service tax refund paid to exporters and increased the number of sectors eligible for reduced interest rates on pre-shipment and post-shipment credit to provide much-needed relief to businesses against an unabated rise in rupee.Exporters would now be given a refund of taxes paid on seven services, instead of four allowed earlier. The new services to be included in the scheme are general insurance, technical testing and analysis, and inspection and certification.The Centre had last month announced exempting services rendered by ports, road transport and railways from the purview of tax.It has also allowed payment of interest on an amount up to a maximum of one million dollars kept in Exchange Earners Foreign Currency accounts. The rate of interest, however, will be decided by the banks and the measure would be valid up to October 31, 2008.Besides, "such accounts should be in the form of term deposits, with a maturity of one year," the Finance Mi...
More About: Services , Insurance , General , Relief , Rupee

Hyderabad to host CII health conclave on Oct 9
2007-10-07 21:27:00
The CII healthcare conclave coming up in Hyderabad next week will highlight the need for quality and affordability of medicare in the country as the sector continues to boom.The conclave to be held by Confederation of Indian Insustries (CII) on October 9, 2007 will also press for industry status for the sector. ?For a long time healthcare has been considered an unorganised industry with doctors turning entrepreneurs. The industry today is the largest employer and demands an industry status,? said Mr Vishal Bali, conference Chairman & CEO, Wockhardt Hospitals Group.?As a fast growing economy we need to focus on the healthcare sector. Today, the healthcare expenditure in the country is 5.2 per cent of the GDP and only 0.9 per cent of its gross expenditure, which is the lowest in the world. There is a huge need for investments to improve access to basic healthcare and fill the shortfall of approximately 8,00,000 beds in the country,? he addedThe conclave will focus on improving gap...
More About: Health , Events , Insurance , Health Insurance

Hyderabad to host CII health conclave on Oct 9
2007-10-07 21:27:00
The CII healthcare conclave coming up in Hyderabad next week will highlight the need for quality and affordability of medicare in the country as the sector continues to boom.The conclave to be held by Confederation of Indian Insustries (CII) on October 9, 2007 will also press for industry status for the sector. ?For a long time healthcare has been considered an unorganised industry with doctors turning entrepreneurs. The industry today is the largest employer and demands an industry status,? said Mr Vishal Bali, conference Chairman & CEO, Wockhardt Hospitals Group.?As a fast growing economy we need to focus on the healthcare sector. Today, the healthcare expenditure in the country is 5.2 per cent of the GDP and only 0.9 per cent of its gross expenditure, which is the lowest in the world. There is a huge need for investments to improve access to basic healthcare and fill the shortfall of approximately 8,00,000 beds in the country,? he addedThe conclave will focus on improving gap...
More About: Health , Events , Insurance , Health Insurance

Hyderabad to host CII health conclave on Oct 9
2007-10-07 21:27:00
The CII healthcare conclave coming up in Hyderabad next week will highlight the need for quality and affordability of medicare in the country as the sector continues to boom.The conclave to be held by Confederation of Indian Insustries (CII) on October 9, 2007 will also press for industry status for the sector. ?For a long time healthcare has been considered an unorganised industry with doctors turning entrepreneurs. The industry today is the largest employer and demands an industry status,? said Mr Vishal Bali, conference Chairman & CEO, Wockhardt Hospitals Group.?As a fast growing economy we need to focus on the healthcare sector. Today, the healthcare expenditure in the country is 5.2 per cent of the GDP and only 0.9 per cent of its gross expenditure, which is the lowest in the world. There is a huge need for investments to improve access to basic healthcare and fill the shortfall of approximately 8,00,000 beds in the country,? he addedThe conclave will focus on improving gap...
More About: Health , Events , Insurance , Health Insurance

Health insurance importance, tariff and reach emphasized at Health Insuranc
2007-10-07 20:35:00
Is Tariff really a critical factor in the growth of Health Insurance . Do people do not take health insurance because of tariff or due to a lack of awareness. Setting any kind of boundaries does affect a market, and probably that is what C. S. Rao, Chairman, Insurance Regulatory and Devleopment Authority meant to say."The healthcare industry has two concerns: insurance and removal of tariffs. Once tariffs are removed, insurance will get a boost, said C.S. Rao, while speaking at the Health Insurance Summit organized by the Confederation of Indian Industry (CII) on Oct 5, 2007 in Mumbai.Also it has been noted that senior citizens are unhappy with the existing health insurance schemes and an issue which needs to be addressed, said Mr. Rao.Health insurance in India forms a small part of insurance. With 75 percent of the Indians residing in the rural areas, more doctors need to be posted in these regions. Also, the poor have still to be taken care of by the government since it is only a ...
More About: Events , Reach

Health insurance importance, tariff and reach emphasized at Health Insuranc
2007-10-07 20:35:00
Is Tariff really a critical factor in the growth of Health Insurance . Do people do not take health insurance because of tariff or due to a lack of awareness. Setting any kind of boundaries does affect a market, and probably that is what C. S. Rao, Chairman, Insurance Regulatory and Devleopment Authority meant to say."The healthcare industry has two concerns: insurance and removal of tariffs. Once tariffs are removed, insurance will get a boost, said C.S. Rao, while speaking at the Health Insurance Summit organized by the Confederation of Indian Industry (CII) on Oct 5, 2007 in Mumbai.Also it has been noted that senior citizens are unhappy with the existing health insurance schemes and an issue which needs to be addressed, said Mr. Rao.Health insurance in India forms a small part of insurance. With 75 percent of the Indians residing in the rural areas, more doctors need to be posted in these regions. Also, the poor have still to be taken care of by the government since it is only a ...
More About: Events , Reach

Health insurance importance, tariff and reach emphasized at Health Insuranc
2007-10-07 20:35:00
Is Tariff really a critical factor in the growth of Health Insurance . Do people do not take health insurance because of tariff or due to a lack of awareness. Setting any kind of boundaries does affect a market, and probably that is what C. S. Rao, Chairman, Insurance Regulatory and Devleopment Authority meant to say."The healthcare industry has two concerns: insurance and removal of tariffs. Once tariffs are removed, insurance will get a boost, said C.S. Rao, while speaking at the Health Insurance Summit organized by the Confederation of Indian Industry (CII) on Oct 5, 2007 in Mumbai.Also it has been noted that senior citizens are unhappy with the existing health insurance schemes and an issue which needs to be addressed, said Mr. Rao.Health insurance in India forms a small part of insurance. With 75 percent of the Indians residing in the rural areas, more doctors need to be posted in these regions. Also, the poor have still to be taken care of by the government since it is only a ...
More About: Events , Reach

More options in Health Insurance, with LIC to submit its proposed Health In
2007-10-06 18:32:00
Life Insurance Corporation of India would submit its proposed health insurance product to the insurance regulator IRDA this month said Mr D.D. Singh, Executive Director (Health ), LIC, at a health seminar organised by CII.Speaking more, he said the health insurance product will be a long-term policy and along with the hospitalization benefits will also factor in savings as one of the element.The main features of the product be would be hospital cash, family-floater and unit-linked components. The premium for the product will increase progressively on an annual basis as the customer?s age increases.Mr Singh said that the objective has been to keep the costs low.A key difference in the health insurance policy from the existing tradional policies is that the premium rates would increase with age. The premium in the tradional policies remain constant throughout the term.The other difference is expencted that the utilisation of the claim benefits will be decided bythe insured. LIC will r...
More About: Life , Health Insurance , Options

More options in Health Insurance, with LIC to submit its proposed Health In
2007-10-06 18:32:00
Life Insurance Corporation of India would submit its proposed health insurance product to the insurance regulator IRDA this month said Mr D.D. Singh, Executive Director (Health ), LIC, at a health seminar organised by CII.Speaking more, he said the health insurance product will be a long-term policy and along with the hospitalization benefits will also factor in savings as one of the element.The main features of the product be would be hospital cash, family-floater and unit-linked components. The premium for the product will increase progressively on an annual basis as the customer?s age increases.Mr Singh said that the objective has been to keep the costs low.A key difference in the health insurance policy from the existing tradional policies is that the premium rates would increase with age. The premium in the tradional policies remain constant throughout the term.The other difference is expencted that the utilisation of the claim benefits will be decided bythe insured. LIC will r...
More About: Life , Health Insurance , Options

More options in Health Insurance, with LIC to submit its proposed Health In
2007-10-06 18:32:00
Life Insurance Corporation of India would submit its proposed health insurance product to the insurance regulator IRDA this month said Mr D.D. Singh, Executive Director (Health ), LIC, at a health seminar organised by CII.Speaking more, he said the health insurance product will be a long-term policy and along with the hospitalization benefits will also factor in savings as one of the element.The main features of the product be would be hospital cash, family-floater and unit-linked components. The premium for the product will increase progressively on an annual basis as the customer?s age increases.Mr Singh said that the objective has been to keep the costs low.A key difference in the health insurance policy from the existing tradional policies is that the premium rates would increase with age. The premium in the tradional policies remain constant throughout the term.The other difference is expencted that the utilisation of the claim benefits will be decided bythe insured. LIC will r...
More About: Life , Health Insurance , Options

IRM launches International Diploma in Risk Management
2007-10-06 10:16:00
LONDON: The London-based Institute of Risk Management has revealed a new International Diploma in Risk Management . The diploma is the IRM's postgraduate level distance learning qualification and has been redesigned in order to take into account a much broader view of risk and risk management, the IRM said.Steve Fowler, chief executive officer of the IRM, explained that the IRM views risk management as a multi-faceted, integrated, enterprise-wide, holistic tool."If you are teaching risk management, then you need to teach a balanced view of risk management, including the upside as well as the downside of risk," he said.The new diploma is post-graduate level, but a degree is not required?entry requirements are a degree or a certain level of experience?about three years' or more risk management experience at a senior level.Mr. Fowler said that features of the new course include a broad range of options with an enterprise-wide approach, international applicability and availability, imp...
More About: Education

IRM launches International Diploma in Risk Management
2007-10-06 10:16:00
LONDON: The London-based Institute of Risk Management has revealed a new International Diploma in Risk Management . The diploma is the IRM's postgraduate level distance learning qualification and has been redesigned in order to take into account a much broader view of risk and risk management, the IRM said.Steve Fowler, chief executive officer of the IRM, explained that the IRM views risk management as a multi-faceted, integrated, enterprise-wide, holistic tool."If you are teaching risk management, then you need to teach a balanced view of risk management, including the upside as well as the downside of risk," he said.The new diploma is post-graduate level, but a degree is not required?entry requirements are a degree or a certain level of experience?about three years' or more risk management experience at a senior level.Mr. Fowler said that features of the new course include a broad range of options with an enterprise-wide approach, international applicability and availability, imp...
More About: Education

IRM launches International Diploma in Risk Management
2007-10-06 10:16:00
LONDON: The London-based Institute of Risk Management has revealed a new International Diploma in Risk Management . The diploma is the IRM's postgraduate level distance learning qualification and has been redesigned in order to take into account a much broader view of risk and risk management, the IRM said.Steve Fowler, chief executive officer of the IRM, explained that the IRM views risk management as a multi-faceted, integrated, enterprise-wide, holistic tool."If you are teaching risk management, then you need to teach a balanced view of risk management, including the upside as well as the downside of risk," he said.The new diploma is post-graduate level, but a degree is not required?entry requirements are a degree or a certain level of experience?about three years' or more risk management experience at a senior level.Mr. Fowler said that features of the new course include a broad range of options with an enterprise-wide approach, international applicability and availability, imp...
More About: Education

Risk Managers AT FERMA help ACE raise $40,000 for Red Cross HIV/ AIDS educa
2007-10-06 08:00:00
Geneva: European Risk Managers attending the FERMA (Federation of European Risk Managers) Congress in Geneva have helped ACE European Group (ACE) to raise over $40,000 (EUR 30,000) for a Red Cross HIV/ AIDS educational programme in India.ACE Foundation- International contributed EUR 200 for each Risk Manager who attended ACE's charity reception at the Red Cross museum in Geneva on 1st October. The full contribution will support the Red Cross's life saving work increasing awareness of HIV/AIDS among young people in India's Northern State of Utter Pradesh.Andrew Kendrick, Chairman and Chief Executive Officer, ACE European Group said: "I would like to extend our heartfelt thanks to every risk manager who attended last night's event, enabling us to make this substantial contribution to the Red Cross's valuable work. Funding for this project is a priority for the Red Cross so every Euroraised will contribute directly to saving lives."The Red Cross HIV/AIDS education in India program...
More About: Events

Applabs and Knowledgecore partner to offer Service Oriented Architecture
2007-10-06 07:00:00
AppLabs today announced it has signed a strategic partnership agreement with KnowledgeCore, an enterprise software solution company to support organizations in their implementation of Service -Orientated Architect ure (SOA).AppLabs and KnowledgeCore have developed a unique solution for the banking, financial services and insurance industries to help plan, prepare and implement high quality SOA developments and applications.SOA is a significant development in uniting Business and IT. According to leading analysts, this approach will be used in more than half of new mission-critical operational applications and businessprocesses designed in the next 12 months."The adoption of SOA is increasing at a phenomenal rate. Our partnership with KnowledgeCore will allow us to deliver a comprehensive quality management and testing solution with a real time dashboard. With SOA, organizations must get it right first time and therefore all stakeholders (Business and IT) need access to decision-making...
More About: Technology , Partner

Shobhit University starts insurance scheme for students, and parents / guar
2007-10-06 06:50:00
Shobhit University , Meerut, has opened a personal accident insurance scheme called Adarsh SUBIDHA Scheme (Adarsh Shobhit University Bima Dhan Scheme) with United India Insurance Co. Ltd.The management showing the attitude to maintain corporate social responsibility and human ethics has opened the policy for Rs. 33 crore, operational since 10.09.2007The uniqueness of the policy is that it covers not only all the staff members of the University but also the first year students enrolled in the University as well as their parents/financing guardians from personal accident arising out of any violent/visible means resulting into partial/permanent disablement or death. Keeping in view the fact that in case of any untoward accident, the study of students does not get affected due to financial constraints.The extent of insurance coverage is as underStudents - Rs.1 LakhParent s /financing guardians - Rs.2 LakhStaff of University - Rs.1 LakhIn case of partial permanent disability the claim payab...

LIC in the process of electronic transformation
2007-10-05 19:25:00
Madurai: The Madurai Division of Life Insurance Corporation (LIC) will phase out the use of paper slowly with the introduction of Enterprising Data Management System (EDMS), which would pave way for keeping records in electronic form. S.Chandrashekar, Senior Divisional Manager of the LIC said the EDMS would facilitate LIC transactions by a policy holder from anywhere in the country. The EDMS facility had been introduced in Madurai division as a pilot scheme in the south zone. It is the second division in the country to get it. The uploading of the data has already begun and the exercise would be completed in a year?s time, he said. The LIC has also introduced Electronic Clearance System (ECS) in all its Madurai Branches to enable policy holders pay premiums using automatic debit facility from banks. There was also a plan to introduce credit card after the ECS.
More About: Technology , Process

Indian Railway benefits by lower insurance cost from market competition
2007-10-05 17:40:00
Indian Railway is being sought after by insurance companies as each time you travel by train you are insured for just 4.75 paisa against accidents and untoward incidents including terror attacks.Indian Railways insured each of its passengers for just 4.75 paisa this year while the amount was 6.20 paisa per passenger last year. A senior railway official attributed the low rate of premium for each passenger to competitive rates offered by private insurance companies.?Because of the participation of private companies in the bidding, we are paying the premium at competetitive rates. It was 6.70 paisa in 2005-06 which has come down to 4.75 paisa this year,? said the official.ICICI-Lombard, a leading private sector insurance firm, has got the railway insurance account for Rs. 34.35 crores as premium covering an estimated 650 crore passengers in 2007-08. The contract is effective from 20 September this year to 19 September 2008. Railway accidents and untoward incidents like rioting, robbe...
More About: Insurance , Market , Competition , Indian , Cost

Bajaj Allianz Life achieves milestone of 50 lakh policies
2007-10-04 17:37:00
Bajaj Allianz Life Insurance crossed a major milestone 50 lakh individual policies, since inception in October 2001. Riding on a strong growth momentum this financial year, the insurer issued over 15 lakh polices and collected over Rs2,500 crore in premiums, a company release said.?We have been focusing on reaching out to the masses across the country with wide range of flexible products and services to suit all segments of the society and this has helped us grow fast and build a strong brand name and customer franchise in a short span of time,? CEO Kamesh Goyal said.?So far the company has issued 5,026,704 policies. Last year, the total number of policies issued were more than 20 lakh 79 thousand,? Goyal revealed.The company entered into business in the second half of financial year 2001-02 after receiving license from insurance regulator IRDA and had issued 21,376 policies for the period.Bajaj Allianz Life Insurance reported a profit of Rs. 63 crore for the financial year 2006-...
More About: Policies , Milestone

S&P gives better outlook to Chinese insurers than India
2007-10-04 17:29:00
New Delhi (PTI): Global rating agency Standard and Poors has given a better outlook to Chinese insurance industry than India as it feels the Communist nation is ahead in terms of regulatory reforms and opening of the sector.?Two major Chinese state-owned insurers have listed offshore and onshore, while India?s national insurers are still wholly government owned,? S&P said in its Asia-Pacific Insurance Outlook . These factors support the outlook on China?s insurance sector as the system would benefit from being more open and shareholder focused, it said, while giving a ?stable? outlook to Indian industry against ?positive? to Chinese firms. On a more specific evaluation, the rating agency said the freedom to general insurers to fix tariffs from 1 January in India may not improve underwriting performance.S&P also said less capitalization of state-owned Life Insurance Corporation, the country?s biggest insurer, comes in the way of potential growth in life insurance sector. Besid...
More About: General

14 Ways to Promote Yourself (Sales tips for Customer Relationship)
2007-10-04 09:14:00
1. It's important for you to be in the minds of your clients as much as possible. You may find the following tips useful: Send cards to clients and their children on special days ? birthdays, anniversaries, specific holidays, New Year's, and so forth.2. Make your business cards stand out! A creative business card idea is one modeled after a baseball card with your photo on the front and your qualifications on the back.3. Give a donation to a charity in your client's name as a birthday gift to them.4. Send a birthday cake to clients.5. Become more active in social or civic organizations like the PTA or at a local church.6. Get a group of successful local business persons together to discuss and exchange business ideas from which you will all benefit.7. Send newspaper clippings of clients who have been featured in local newspapers. If you come across an article that would be of interest to a client you might send it to them as well.8. On your anniversary with the company, hold a sp...
More About: Relationship , Promote , Tips , Sales , Customer

ICICI Prudential Life introduces smart cards for policy-holders in rural ar
2007-10-03 17:45:00
ICICI Prudential Life , in yet another innovative way to market their products and services has launched the biometric smart cards in the rural areas. The smart cards will store the policy details and enable the policy holder a hassle free way of maintaining his policy related activites.Some of the features are as below:Carry all policy details without any papersStore transaction details Pay renewal premiums and service transactions (service to be launched)Help customers during the time of claim Anita Pai, executive vice president, ICICI Prudential Life Insurance said, "As the company is expanding and reaching out to policyholders across the nation, it is critical for us to maintain our service experience amongst customers. The card will enable us to move away from the connectivity and infrastructure barriers and provide real time solutions to policyholders in the rural segment."ICICI Prudential Life Insurance has launched this unique service in partnership with Financial Information...
More About: Technology , Smart , Policy

Health insurance for Below Poverty Line unorganised sector workers
2007-10-02 08:25:00
New Delhi,(PTI): In keeping with the promise made by Prime Minister Manmohan Singh in his Independence Day address, the Government will launch on October 2nd a Health Insurance Scheme "Aam Aadmi Bima Yojana" for 40 crore unorganised sector workers.In the first phase, the health insurance cover will benefit workers and families living Below Poverty Line in the unorganised sector and States have already been asked to formulate projects, a Labour Ministry official said.Under the scheme, the launch of which was approved by the Union Cabinet earlier this month, it shall be the responsibility of the implementing agencies to verify the eligibility of the unorganised sector workers and his family members who are proposed to benefited.The beneficiaries under the "Aam Aadmi Bima Yojana" will be issued smart cards with social security number for the purpose of identification.The scheme envisages life and disability cover to all rural landless households in the country. The insurance cover will...
More About: Workers , General , Health Insurance

ICICI Prudential Life partners with Dignity Foundation to launch ActivAge
2007-10-02 07:28:00
October 1 every year is observed as World Elders day. Old age is often described as second childhood, when people crave for attention and help. But whether they get those benefits or are well off, depends lot more upon circumstances.To cheer up on this day, we have some initiatives taken jointly by ICICI Prudential Life Insurance, one of India?s leading life insurers and Dignity Foundation , an established organization dedicated to the cause of productive ageing. They have come together to lauch ActivAge a platform that will work towards promoting and facilitating the concept of productive ageing amongst the senior citizens in India. It entails a comprehensive engagement program for the fifty-plus segment, involving them in activities that will help them lead a holistic post-retirement life.Speaking at the launch, Ms. Shikha Sharma, Managing Director and CEO, ICICI Prudential Life Insurance said, ?While financial independence is a key determinant for a satisfying life post-retiremen...
More About: Events , General , Launch

SBI to enter Non-Life insurance sector
2007-10-02 06:49:00
State Bank of India (SBI), the country?s largest public sector bank, after sucessfully setting up its life insurance business, is now looking ahead to make an entry in the non-life insurance sector. ?We are interested in the general insurance business and are talking to some foreign companies in this regard. We expect to make a formal announcement in 3-6 months?, said chairman Om. Prakash. Bhatt.A total of 6-7 companies from Australia, Europe and United States have evinced an interest in the proposed joint venture. ?We are in the process of short listing 2-3 companies?, Bhatt said, without divulging any further details.Since the insurance business is very technical, the bank was interested in a partner who knew the rules of the game. "We are looking for a partner having product development expertise in sectors such as micro-insurance?, Bhatt said.While the economy is booming, growth is confined to big corporates, export-oriented industries and small and medium enterprises (SMEs), wh...
More About: Life , Insurance , Life Insurance , Enter

Bill to punish hospitals for turning away emergency patients
2007-10-02 06:21:00
New Delhi(PTI): Private hospitals and practitioners will not be able to turn away an emergency patient if a bill drafted by the Law Commission takes the shape of a law. The Commission in a draft bill on accident victims and emergency patients, which includes expecting women, seeks to make it binding on the hospital or the doctors to admit, stabilise or transfer, if required, to another hospital irrespective of whether victim can pay or has medical insurance or not.The hospital cannot refuse the accident victim even on the ground that it was a medico-legal case and that it can be attended to only by a designated hospital of the jurisdiction, the draft bill says.Under Indian laws, the case of a person getting an injury, whether by accident or inflicted, must go through the process of court. Thus, he can be examined and treated only by the designated government hospitals, which are usually few and far between.The private hospitals turn away such patients as the treatment may be viewed ...
More About: Insurance , Corporate , Hospitals , Patients , Bill

Kotak latest product offering "Eternal Life Plans" based on whole life
2007-09-29 21:42:00
Kotak Mahindra Old Mutual Life Insurance Limited (Kotak Life Insurance), has launched ?Kotak Eternal Life Plans ? a new-generation participating whole life plans that provides enhanced protection till age of 99, even while bringing two significant benefits of wealth creation and protection.The Company said that, the plans will provide a high cover at lower premiums, cash lumpsum benefits at the end of Premium Payment Term and increased choice through a range of plan options with two unique variants, the product has been packaged to suit different sets and needs of customers:Eternal Life Premier Shield ? Offering a Comprehensive Whole life cover till age 99 with premiums that match income and lifestyle.Eternal Life Classic Shield ? Offering a Comprehensive Whole life cover till age 99 along with guaranteed level premiums and flexible premium payment term.The Premier Shield is a first-of-its-kind offering in the industry and offers a fixed 5% increase per year in the premium to a young...
More About: Product

Max New York Life tie-up with District Cooperative Central Bank Ltd, Mahabu
2007-09-29 20:52:00
Max New York Life (MNYL) announced a strategic referral tie-up with District Cooperative Central Bank Ltd, Mahabubnagar in Andhra Pradesh on September 28, 2007. Max New York Life will utilize the branch network of the bank to sell its life insurance products. The tie up with District Cooperative Central Bank Ltd., Mahabubnagar will further strengthen Max New York Life?s rural presence in Andhra Pradesh.Max New York Life?s insurance products will be sold through a network of 120 branches of The District Cooperative Central Bank Ltd., Mahabubnagar. This alliance enables Max New York Life to reach its customized life insurance solutions to more than 2.5 lakh customers of District Cooperative Central Bank Ltd, Mahabubnagar With deposit base of Rs. 71 crore and loans to the tune of Rs 356crores the bank has a paid up capital of Rs 33.5 crores (The key objective of the bank has been to serve the rural people by providing financial assistance and guidance for various developmental and pro...
More About: Insurance