PERSONAL FINANCE


The move by the insurance regulator is in the interest of customers as it would bring transparency in the way insurance is pushed by intermediaries. Many times the customer does not even know the insurance company’s name whose product he may be forced to buy Insurance Regulatory and...

Read More



Moneylife Digital Team 23 February 2012
Banks are concerned as non-performing assets in education loans are as high as 6%. Meanwhile, SBI, largest public sector lender, announced an interest rates cut on education loans up to 1%  The committee constituted by the Reserve Bank of India (RBI) to re-examine the existing...

Read More



Moneylife Digital Team 22 February 2012
Rethink on Single Premium IRDA is not happy with insurance companies’ increasing focus on single-premium products which has wider acceptability with customers. Even with ULIP business steadily going down by 17% over one year, single-premium products did well. IRDA wants to re-emphasise...

Read More



Moneylife Digital Team 22 February 2012
Will help bring consistency in claims payment IRDA (Insurance Regulatory and Development Authority) will issue detailed rules on claims settlement for health insurance companies by 30 April 2012. This comes after the recent Bombay High Court order asking IRDA to draft regulations on claim...

Read More



Moneylife Digital Team 22 February 2012
New car buyers can now buy life insurance IndiaFirst Life has launched Autolife. Life insurance cover up to Rs20 lakh can be purchased at the time of buying a new car. You will need no documentation, medical tests and there will be no waiting period. This initiative is an innovative...

Read More



Moneylife Digital team 22 February 2012
You will know only at the end LIC (Life Insurance Corporation of India) has launched Jeevan Ankur, a traditional child plan offering single or regular premium option. Traditional child plans are popular due to secured returns, even if they are low. Jeevan Ankur offers inbuilt income...

Read More



IRDA has not approved any web aggregator license till now; web aggregators have stopped giving product comparison for the last 21 days. Business outlook remains grim due to drastic cutback of the price a customer lead can be sold. Will aggregators adapt or perish?  The Insurance Regulatory and...

Read More



While the concept is appealing, most of what is covered is also available in a regular critical illness product. The new product is neither inexpensive nor does it offer lifelong renewal Bajaj Allianz Women Critical Illness Plan is touted as the first-of-its-kind to cover women specific...

Read More



There is a new insurance product using the iProtect brand name in the market. ICICI Pru Life has one and now Bharti AXA Life has used the very same product name. The premium is cheapest offered so rar, which means that price war between insurers is still hot. The Bharti product is a good deal...

Read More



Moneylife Digital Team 16 February 2012
The RBI in its quarterly review of monetary policy in mid-January, cut the cash reserve ratio (CRR)—the amount of deposits banks keep with the central bank—by 50 basis points (bps) to 5.50% from 6%. The central bank kept other rates like repo and reverse repo rates unchanged due to high core...

Read More



IRDA has proposed a slew of changes recently. It is mix of good, bad and ugly. What do Moneylife readers have to say? The Insurance Regulatory and Development Authority (IRDA) has made slew of changes including major ones for pension products and web aggregators in the recent past and more...

Read More



IRDA exposure draft on needs-based life insurance sales is a welcome step to reduce mis-selling, but will customers really share all the information especially if it is optional? How will prospect product matrix work for online life insurance? The Insurance Regulatory and Development...

Read More



Moneylife Digital Team 08 February 2012
According to the Bank Employees Union, Dhanalaxmi Bank’s business fell down from Rs22,000 crore but it is being camouflaged through inter-bank deposits and other measures After the resignation of Dhanalaxmi Bank’s chief operating officer and managing director- Amitabh Chaturvedi due to...

Read More



According to experts from banking and IT-Security, banks are not really interested in security unless they forced to. Some even try to threaten experts who show the loopholes in their systems Safety and security for online financial transactions has always remained a cause of worry for all...

Read More



Moneylife Digital Team 08 February 2012
Future Generali Life fined Rs20 lakh IRDA imposed a fine of Rs20 lakh on Future Generali Life for procuring business through unlicensed agents. IRDA said there is a substantive violation where the insurer has permitted various unlicensed individuals to solicit and procure business through...

Read More



Moneylife Digital Team 08 February 2012
Will the premium rise sharply? Apollo Munich has launched Optima Restore, a mediclaim with innovative features. It will give additional sum insured (SI) equal to base SI without additional premium or paper-work, if the base SI is exhausted in the middle of a policy year. The caveat is that...

Read More



Moneylife Digital Team 08 February 2012
Needs to offer decent bonus to help save for child’s education Aegon Religare’s Educare is a traditional child plan platform, offering insurance cover along with savings. Traditional child plans are popular due to secured returns, even if they are low. This is due to the appeal that parents...

Read More



Moneylife Digital Team 06 February 2012
According to sources, the Bank's MD & CEO has resigned due to serious differences with other Board members Dhanalaxmi Bank Ltd's managing director and chief executive, Amitabh Chaturvedi has resigned from the bank. The Bank’s board of directors are meeting today at 4pm and may declare...

Read More



Health insurance claims data shows that as the sum insured increases, so does the average claims size. Co-payments brings partial responsibility of payment and hence scrutiny of bills by the insured. Are co-pays the new weapon to fight excessive hospital charges? Health insurance claims data...

Read More



Moneylife Digital Team 03 February 2012
Government-owned IDBI Bank Ltd has launched India’s first online retail G-Sec portal. The portal provides an opportunity for retail investors to buy and sell government securities (G-Secs). G-Secs are bonds issued by Central and state governments. The portal became operational on 17 January...

Read More

Free Helpline
Legal Credit
Feedback