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LIC JEEVAN VRIDDHI (LICINDIA) - LIC JEEVAN VRIDDHI Is A Single Premium Non-market Linked Plan Which Provides For Payment Of Guarante
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MAX NEW YORK LIFE PREMIUM RETURN TERM PLAN (MAXNEWYORKLIFE) - Max New York Life Premium Return Term Plan Is A Good Plan As There Are Very Few Term Plans Which Ret
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| DILEEP RASTOGI |
GWALIOR, MP |
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| VIVEK KADAMATI |
BANGALORE, KA |
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| PRASHANT BHOSALE |
THANE, MH |
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| Samvardhan - Pension Scheme ( Defined Contribution) for all LIC agents |
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LIC India has decided to start a Group Superannuation Cash Accumulation Scheme- ′Samvardhan′, for the Agents of the Corporation. This scheme is being started with a view to assist the agents in creating a sizeable corpus during their productive year which can be used to provide the pension in a structured way, after the accumulation period.
Main features of the scheme are as under :
Eligibility:
1. All the active agents having annual commission of Rs. 1,00,000 alongwith agency tenure of minimum 1 year can join the scheme. Membership of the scheme is voluntary.
2. Minimum age at entry ( in years) 18 completed
3. Maximum entry age ( in years) 65 completed
Contributions:
1. Minimum contribution by the Agent Rs. 500/- per month and in multiples of Rs. 500/- thereafter
2. Minimum accumulation period upto age 60 years
3. Maximum accumulation period upto age 75 years
4. Minimum deferment period- 10 years
Benefits under the Scheme:
Benefits payable after the accumulation period
Benefits payable on the death of the member
Benefits payable on withdrawal of individual member
The Scheme will run as a defined contribution under Group Superannuation Cash Accumulation Scheme of LIC of India.
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Source : http://www.licindia.in |
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 A Boon For Health Coverage After Retirement (2010-04-15) -
Are You Concerned About Health Insurance After Your Retirement, When No Longer Covered Under A Company’s Group Mediclaim Policy? Read More
- IRDA Tells Insurers To Ignore Sebi S Fresh Order (2010-04-14)
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In A Sharp Rebuff To Market Regulator The Securities And Exchange Board Of India (Sebi) For Banning Issuance Of Any Fresh Unit-linked Insurance Products (ULIPs), Insurance Regulator IRDA Today Asked Insurance Companies To Ignore It Just Like The Previous Order. Read More
- IRDA, Sebi Chiefs Meet Chawla To Resolve Ulip Row (2010-04-13)
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Sebi Chairman C B Bhave And IRDA Chief J Harinarayan Had Separate Meetings With Finance Secretary Ashok Chawla Today On The Ongoing Tussle Between The Two Regulators Over Equity-linked Insurance Schemes Read More
- Finance Min Considers ULIPs 'broadly' Similar To MFs (2010-04-13)
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Much Before The Row Between Two Regulators The Securities And Exchange Board Of India (Sebi) And Insurance Regulatory And Development Authority (IRDA) Over Regulating ULIPs, The Finance Ministry Has Been Considering These Unit-linked Insurance Products "broadly Similar" To Mutual Funds. Read More
- Ulip Row: Distributors Field Calls, Put Applications On Hold (2010-04-13)
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Since Friday, When Sebi Fired The First Salvo By Banning 14 Insurance Companies From Selling Or Renewing Ulips, Investors Have Found Themselves Dragged Into A Battle Of Turf Between Sebi And The Insurance Regulatory And Development Authority (Irda). Read More
- Sebi Says Ban To Continue On New ULIPs (2010-04-13)
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A Day After The Finance Ministry Brokered A Truce Between Two Financial Sector Regulators, The Securities And Exchange Board Of India (Sebi) Today Said Any New ULIP Scheme Launched After April 9, 2010 By Insurance Companies Will Remain Covered By Its Earlier Ban Order. Read More
- LIC Launches Its Credit Card (2010-04-12)
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Public Sector, Life Insurance Corporation Of India LIC Finally Launched Its Much Awaited White-labelled Credit Card On Monday March 30th Read More
- Round 1 To Irda: Ban On Sale Of Ulips Lifted (2010-04-12)
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Regulators To Jointly Seek Binding Legal Mandate On Unit-linked Insurance Products Read More
- There Is No Case For Dual Regulation (2010-04-12)
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Had We Not Issued This Circular The Sebi Order Would Have Led To A Standstill And Many Policies Would Have Been Surrendered. The Amount Of Money That Would Have Gone Out Of The System Is Huge And Subsequently Many Policies Would Have Lapsed. This The Sebi Move Would Have Resulted In A Drying Up Of Revenue For Companies Which Is Not Good For The Economy And Its Growth. This Irda Order Is In Favour Of Policyholders And Insurance Companies. Read More
- Clash Of Regulators Intensifies (2010-04-12)
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Sebi Fired A Fresh Salvo On Sunday In Its Battle With The Insurance Regulator Saying It Would Widen Its Probe Into Ulips Which Irda Considers Its Domain. Read More
- Regulators Should Resolve Differences On Their Own: Govt (2010-04-12)
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The Government Is Unlikely To Intervene In The Turf Battle Over The Regulation Of Unit-linked Insurance Companies, Other Than Asking The Insurance And The Capital Markets Regulators To Resolve The Issue Amicably. Read More
- ULIP Investors Are Safe: IRDA (2010-04-12)
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Amid A Turf War With SEBI On ULIP Schemes Insurance Regulator IRDA Today Assured Investors That The Equity-linked Products Are Safe While Seeking Greater Clarity From Authorities On Jurisdiction Of The Two Watchdogs Read More
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| Archive News Related to Insurance |
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- 6 Insurers Fined Rs 50 Lakh (2011-01-05)
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Six Insurance Companies Were Fined To The Tune Of Rs 50 Lakh By The Insurance Regulatory And Development Authority (IRDA) During 2009-10 For Various Violations. Read More
- Agent's May Lose Licence For Mis-selling :IRDA Proposal (2010-07-29)
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With Many Life Insurers Not Able To Retain Customers Due To Mis-selling, The Regulator IRDA Has Proposed That Licence Of An Agent Be Cancelled If 50 Per Cent Of The Policies Sold By Him/her Are Not Renewed Annually. Read More
- Max New York Life Introduces College Plan (2011-02-18)
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Max New York Life Introduces College Plan A Guaranteed Money Back Child Plan To Help Parents Create A Corpus And Meet The Fast Increasing Cost Of Higher Education Of Their Children. The Plan Provides Peace Of Mind As It Ensures A Guaranteed Pay Out When The Child Reaches 18 Years Of Age. Read More
- LIC For Higher Premium For Aam Aadmi Scheme (2010-11-09)
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Group Insurance Scheme Was Introduced By The Centre For The Landless Agricultural Labourers Read More
- LIC Snaps Up Nearly 75% New Biz In Q1 (2010-07-29)
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He Grip Of Insurance Giant Life Insurance Corporation's (LIC) On The Market Only Got Cemented This Quarter Further With The State-run Behemoth Cornering Nearly Three-fourths Of The New Premiums In The First Quarter With Rs 18,740-crore Business Read More
- Govt Moves To Bypass Sebi On Ulips (2010-07-29)
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Indian Government On Tuesday Introduced A Bill In Parliament To Allow Insurers To Sell Unit-linked Insurance Plans (ULIPs), Without Seeking The Capital Markets Regulator's Approval. Read More
- Insurance Distribution Channel Related Changes (2010-07-09)
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- 1. IRDA Has Amended The IRDA (Insurance Advertisements And Disclosure) Regulations To Remove Any Scope For The Involvement Of Unlicensed Personnel/entities In The Sale Of Insurance Products.
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2. IRDA Has Amended The IRDA ( Licensing Of Corporate Agents) Regulations To Further Tighten The Code Of Conduct Of Corporate Agents To Ensure That The Prospect Does Not Deal With Any Unlicensed Person. The Regulations Have Also Been Amended To Ensure That There Is No Scope For Any Kind Of Remuneration Other Than Commission Where Sale Has Been Effected. This Measure Will Reduce The Expenses Of The Insurer, Thereby Lowering Premiums To Be Paid By The Policyholder.
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3. Regulations For Referrals: IRDA Has Also Addressed The Issue Of Referrals By Bringing Out Separate Regulations Leaving No Scope For Misuse Of The System. Companies Which Wish To Share Their Database Of Customers With Insurers Would Need To Get Approval From IRDA After Having Conformed To The Requirements As Laid Down In The Regulations. Further, There Are Restrictions On The Business Activities Of The Referral Company To Ensure That There Is No Misuse Of The System. For Instance, The Referral Company Shall Not Be In Any Business Of Extending Loans And Advances Or Accepting Deposits Etc Though There Are Exceptions Such As For Regional Rural Banks, Co-operative Banks Etc. The Regulations Cast Obligations On The Referral Company As Well As The Insurer Including Submission Of Data As And When Called For By The Authority.
Read More
- Health Plus Life Combo Product (2010-06-29)
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In December, The Regulator Allowed Companies To Offer “Health Plus Life Combo Product” — A Policy That Will Provide Life Cover Along With Health Insurance. For This, Life And Non-life Insurance Companies Need To Enter Into Agreements To Offer The Health-cum-life Cover. Read More
- HDFC Standard Life Hopes To Break-even In FY12 (2010-11-09)
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Insurer HDFC Standard Life Insurance Company Ltd Expects To Break-even In The 2011/12 Financial Year, Helped By An Increase In Premium Income And Reduction In Operating Costs Read More
- Corporation Bank Keen To Tap Strategic Relationship With LIC (2010-11-12)
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The Bank Is Keen On Setting Up Branches In LIC's Branches And Divisional Offices. Read More
- Aegon Religare Life Insurance Launches Fixed-Benefit Health Plan (2010-08-31)
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Aegon Religare Life Insurance Launched Its New Fixed-benefit Health Insurance Plan Called AEGON Religare Health Plan. This Plan Offers Several Unmatched Benefits Such As Coverage Of All Surgeries, Guarantees Payment In Case Of Claims And Cashless Facility In Over 3,000 Hospitals. Read More
- INTRODUCTION OF LIC BIMA ACCOUNT (2011-02-01)
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This Is A Without Profit Variable Insurance Product Wherein The Proposals Will Be Accepted Under Non-medical Scheme Only. Under This Plan There Will Be A Policyholder″s Accountmaintained Separately For Individual Policyholder, Which Shall Consist Of Two Parts- Policyholder″s Regular Premium Account And Policyholder″s Top-up Premium Account. Read More
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