New Avatar of ULIP Policies
Introduction Why ULIP’s are not good choice?. This is the article written by me couple of months back. At the time of writing the article, ULIP is one of the most controversy product in the financial world. It is because of its high management charges and commission to the agents. The situation has changed after [...]
IRDA wins over SEBI on ULIP policy verdict
Couple of weeks back I have written about the power struggle between the insurance regulator IRDA and stock market regulator SEBI. Firstly, SEBI has banned 14 insurance companies to stop selling the ULIP polices and it requests them to register with SEBI to issue the fresh ULIP policies. It made fierce battle between IRDA and [...]
Disclose Insurance Agents Commission:IRDA
Insurance Regulator Authority of India(IRDA) has sent notification to all the insurance companies for disclosing the commission paid to agents on each policy. This rule comes into effect from 1st July, 2010. There are open debates about the commission paid to the insurance agents. IRDA standing in favor of paying high commission to the agents, [...]
SEBI Bans 14 Insurance Companies to sell ULIPs
It is a war between two major controlling boards IRDA and SEBI. This war has become apparent when insurance companies selling Unit Linked Insurance Plans(ULIP) that is similar to the mutual funds but come with insurance cover. There is big controversy about the nature of ULIPs because of the high cost structure and miselling by [...]
Switching health insurer without losing benefits
Introduction In this article I will be writing about the new option provided for the health insurance policy holders. It is good news that IRDA has come up with rules favor of the policy holders. Please subscribe to our future articles here. Switching health insurer without losing benefits You can not switch to the another [...]
Insurance Agent Commission may continue
In my previous article I have written about the proposal on removing the insurance agent commission by D Swarup, the chairman of the Pension Funds Regulatory & Development Authority (PFRDA). Also I have mentioned that agents are the key to getting the more business for the insurance companies and they are the key driving factor. [...]
IRDA Announcement on Insurance Agents
Recently IRDA has announced new restriction for the Insurance agents. The following are the restriction and rules should be followed by agent and the insurer. With the new announcement, agents cannot change the insurance company very frequently. Every agent has to stick with the same company for at least three years, then only he can [...]
List of Life Insurers in India
The following are the list of Life Insurance Companies in India. The list is published by IRDA. Bajaj Allianz Life Insurance Company Limited Birla Sun Life Insurance Co. Ltd HDFC Standard Life Insurance Co. Ltd ICICI Prudential Life Insurance Co. Ltd. ING Vysya Life Insurance Company Ltd. Life Insurance Corporation of India Max New York [...]
Will Insurance Agents deserve those commissions?
Introduction This blog post explains about the new proposal sent to the Insurance Regulator to cut down the existing commissions paid to insurance agents and increase the sum assured for the policy holders. It is just a proposal and it looks nsurance Regulatory & Development Authority (IRDA) is not much interested in the proposal. In this [...]
IRDA plans to allow banks to tie up with 2-3 insurance cos
Banks can tie up with utmost one insurance company as the agency. For example IOB has the LIC as the Insurance partner. Insurance sector regulator IRDA is considering whether to allow banks to tie-up with two-to-three insurance firms to sell their insurance. The regulator is currently reviewing the existing Banacassurance model and has set-up a seven-member committee [...]
