NO CLAIM BONUS FOR MOTOR INSURANCE

July 18th, 2012

The benifit for those who have not claimed insurance during preceding year of insurance cover ,it means the premium they would pay in the following year would be lower ,can be availed under the comprehensive motor insurance policy.The policy cover the loss or damadge to the vehicle ensured and third party liability.Since the no claim feature is linked to insured and not the vehicle you can not transfer your no claim bonus from insurer to insurer but also to a new vehicle of the same type.However it is applicable only to own damadge part of the premium which is 80 percent of policy premium and for third party it is 20 percent once insurance claim is made, your no claim bonus automatically become 0 and your next premium will be on higher side

MATERNITY INSURANCE POLICY

July 17th, 2012

 

MATERNITY INSURANCE POLICY

Maternity Insurance is a part of family planning .whenover you go for maternity insurance planning it should be a full pledge

financial economical decision.It is adviced to would be parents to plan upbringing of child even before the little one born,

and planning itself starts from giving birth to a healthy baby.

IMPORTANCE of MATERNITY INSURANCE POLICY

1.Maternity insurance- There are many insurance plan being available in health insurance policy with maternity benifits available

maternity insurance cover expenses incourred in routine checkeps,tests and other complications thatr may arrise during that period.

its cover is available for caesarean births,premature births and cost of medicines and hospitalisation.

2. When u should go for maternity insurance-you have to plan for it long before actually when you plan your family.Usually maternity insurance will not
cover cost of pregnancy that happen within 9 months of talking the policy,Even in group insurance policy.for individual coverage waiting period can b as
4 to 6 yrs after talking policy.The cover varies from company to company .usually group insurance policy cover rs 50000.Individual health plan usually
provide 15000 to 25000 rs depending on normal or caeserean birth maternity insurance should cover expenses occured pre-netal,hospitalisation,post-natal all medical checkup,
ultrasound,termination of pregnancy within first 12 weeks and doctors consultancy fees etc.

So whenever you go for maternity insurance cover make sure to observe above mentioned points in your cover.

Insurers can’t deny clams mere ground of delay

September 23rd, 2011

Insurers can’t  deny clams mere ground of delay                  

Insurance companies   can not deny claim  of theirs  consumers on the fussy grounds

Insurance regulatory authority ( irda) issued a circular to all companies not to deny claims on the ground that document were  not     submitted in time.Irda said that claims were rejected by insurer  on the ground of delayed intimation an  submission documents The regulator  has asked  companies to incorporate additional wording in policy documents to avoid such instances in future ,claims should be rejected on the basis sound  logic  and valid grounds only

Good News for Policy Holders of Insurance

September 20th, 2011

Good News for Policy Holders of Insurance

Insurance Regulatory development Authority (Irda) the apex regulatory body for insurance is planning minimum death benefit at the  five times of premium paid by policy holder .The irda is wary of low life risk covers associateted with some traditional policies planning to introduce a minimum death benefit plan at five times the annual premium.

The move comes after a surge in sales of traditional plans across the industry. Since September last year when the stringent norms on unit – linked guidelines came into force, insurances companies started focusing more on traditional plans. As a results, sale of ulips, which earlier constituted 80 percent on the total volume, came down drastically. During April-July this year, life insurance companies collected 26,794 crore by written new policies and traditional plans accounted  for nearly 80 percent of that.

LANDMARK VARDICT COULD HAVE FAR REACHING FACTS

March 16th, 2010

The verdict of Delhi High Court is no doubt a historical and definitely will have far-reaching implication in the armed forces the direction of the court to union govt. to end the discrimination in the armed forces IT will open the gates for permanent commission to the around 1200 women officers IT is surprising that if the male officers can be granted permanent commission performing those tasks ,there is no reason why capable women offices cannot be granted permanent commission it is held that it is not charity being sought but enforcement of constitutional right. It evident that there was tendency of gender bias in army. They have right to appeal in the Supreme Court but credibility will be doubtful in light of gender bias arm forces. The Delhi High Court created a history by “bold judgment”. A gift to women’s of India. The most discriminated in the Indian society.

PAID NEWS A STIGMA ON THE FACE OF MEDIA

March 16th, 2010

Media is under attack for paid news, and it is genuine concern for our democracy. The question raised by intelligence really is very important as media is always treated a fourth pillar of democracy, recently a delegation of Editors Guild of India met Election commission of India and raised the issue of paid news before them .Even Vise president of India in the upper house of parliament made his observation against paid news during debate in upper house. In a seminar organized by editors’ guild women press all political party was worried about this problem and agreed to include it to make paid news electoral offence as election commission is not adequately empowered to deal with the issue. A bill should be introduced in the parliament to amend the “People’s representation act”, Model code of conduct does not cover the issue of malpractice it is need of the hour .Many senior journalist are of the same view in my opinion journalism is a noble profession and a mission not a product due to that media is entitled for some privilege but if you feel that you are free to promote it as product then accept regulation certainly lose some privilege it is right time now to introspect yourself you cant cheat public, your reader they are fully entitle to get independent news. I am of the view that it is really a stigma on the face of media.

PASSAGE OF WOMENS RESRVATION BILL

March 11th, 2010

No doubt history was made by passing the women reservation bill in the Upper house. With the Upper house adopting a legislation making space for 33% reservation for women representative to empowered women in independent India. In the history it is known fact that women struggle to got even voting right. In the men’s dominated world despite of this men dominated world Indian society we could not forgot the name of Rani Ahilya bahi, laxmi bai, Sarojni naidu, Dr. suchita kripltinani, Indira Gandhi, Sonia Gandhi, President of India Dr. Prathibha Devi Singh Patil etc are dominating their field. Their contribution can not be ignored.
Independent India adopted a landmark provision to empower women this cause hinges on political representation and economic advancement. The passage of women reservation bill can be justified as path breaking social reform. There are some apprehensions in some section of political section. The mechanism to be adopted for reservation of seeds, it should be widely to be debated. There may be some genuine concern. The parties opposing the bill lowered the dignity of house and made mockery of democratic values. After independence we are just acknowledging the political right to one half of our population. Through this constitutional amendment.

CONSUMER PROTECTION ACT AND COMMERCIAL PURPOSE

March 6th, 2010

Under the consumer act only persons who buy goods and services for the own purpose are consumers. But the consumer protection act further amended that those who buy good or services for commercial purpose cannot be consumer other than those who buy those services for their livelihood. Even at that stage even Insurance companies were unable to move consumer fora for redressal of their grievances. In the circumstances when insurance companies are forced to take-up the under their obligation as a third party or entitle to file their complaint or under the agreement with their policy holder for their recoveries of their interest as a joint party. However their was always confusion that when it could be done. Last month Supreme Court shortage out right of insurance companies to move consumer for a in the case ECONOMY TRANSPORT ORGANISATION vs CHARAN SPINNING MILLS. The definition of consumer in the Supreme Court judgment held recently in the Gujrat Themis Bicon vs Subodh Gohklae that employ is a consumer against the right of the employ the provident fund contribution is not paid. Similarly National consumer commission held that student is also a consumer on non-publication of result of an examination. Even an industrial unit is also a consumer which admittedly is running for commercial purpose if the insurer decline to pay assured some in the Ritu Gram Udhyog Samiti vs. New India assurance company where factory collapse in a hail storm leading to a claim against the insurance company. It was held those insurance policies were taken covering the risk that was not for the commercial purpose. It is specific clear now that cover is specifically for the covering of the risks to indemnification of actual loss with no intention to generate profit.
Even insurance companies are consumers it is held in Charan Spinnig mills that insurance companies can claim compensation which were delivered by insurance company to the policy holder in pursuance to the contract but the consignment of the policy holder was lost in transition. It was held that insurance companies had jointly with the policy holder or with the authority of the policy holder can file complaint in the consumer for a so in this case insurance company is consumer under the emit of the consumer protection act.

BUDGET- MY WISHLIST

February 13th, 2010

1. Extend personal income tax limit.
2. Link growth rate with “Aam Admi”.
3. Extend budget allocation for social sector.
4. Control the price rises.
5. Make public delivery system effective.
6. Enhance the budget allocation for health sector, health system to be propublic and cheapest.
7. Link inflation with graceful life to “Aam Admi”.
8. Bring judicial reforms.
9. Provide education to all sectors of society.
10. Bijli, Pani Sadak should be priority to remote areas.
11. Generate employment.
12. Concept of welfare state should be enforced.
13. Essential services or social sector cannot be left to market forces.
14. Internal and outer security should be strengthen.
15. Provide railway networking to remote areas on the basis of socioeconomic basis.
I think Union govt. should consider above points in coming budget.

PUBLIC INEREST LITIGATION

February 11th, 2010

THE year 1980 is very important in the history of PIL .When former chief justice of India MR P.N BHAGWATI initiated to give it a strong foundation in the case of P.U.CL during examination apex court realized that large section of society is unable get justice due to ignorance ,poverty, discrimination, illiteracy in fact no access to justice to provide access to justice to deprived and marginalized section of society APEX COURT encouraged PIL during regime justice Bhagwati he order to take up even ordinary post card as a PIL and movement of PIL passes various phased with right to life to the persons in jail or in illegal custody, and encompassed public grievances against environmental degradation, Quality of life, attempted to maintain probity, transparency in public life and integrity in governance. Supreme Court and high courts have jurisdiction to take so-motto contingence of any public interest for delivery of subinstantial justice.
To stop abuse of P.I.L. Supreme Court recently issued guidelines to the High courts to discourage frivolous P.I.L. by imposing exemplary cost or adopting some novel method.