Insurance

403b Retirement Plans

2011-11-08T06:04:00.000-08:00

What are 403(b) plans?

A 403(b) retirement plan is quite similar to a 401(k) plan. It is offered by non-profit organizations, like universities and charitable organizations. Your employer can determine the financial institutions where you can maintain your 403(b) accounts. Accounts under a 403(b) plan can be one of the three following types:

annuity contract

which is provided through an insurance company is known as tax-sheltered annuities (TSAs) and also tax-deferred annuities (TDAs).

A custodial account provided by a retirement account custodian. Investments here are limited to regulated investment companies, like mutual funds. A retirement income account, for which investments options are either annuities or mutual funds.

What are the benefits of a 403(b) account?

You can enjoy reduced taxable income through pre-tax contributions and tax-deferred earnings on plan contributions. You will probably have to pay less tax on assets as the distributions usually happen after you retire and are in a lower tax bracket. An additional advantage is that you can also take loans from the 403(b) accounts.

What are the types of contributions?

Elective-deferral contributions - Those deducted from employee's paychecks on a pretax basis.
Employer contributions that can be fixed or discretionary .
After-tax contributions which are deducted from employee paychecks on an after-tax basis .
A combination of any of the three contribution types .

Who can establish a 403(b) plan?

403(b) Retirement Plans can be established by any of the following organizations: A tax-exempt organization established under section 501(c)(3) of the Internal Revenue Code. These organizations are usually referred to as section 501(c)(3) organizations.

Public school systems
Cooperative hospital service organizations
Uniformed Services University of the Health Sciences (USUHS)
Public school systems organized by Native American tribal governments
Certain ministers

An organization may qualify for exemption from federal income tax if it is run and managed exclusively for one or more of these purposes - "charity, religion, education, science, literacy, testing for public safety, fostering national or international amateur sports competition, and the prevention of cruelty to children or animals". The organization must be a corporation, community chest, fund or foundation.
If your employer is one of the types of organizations listed above, you can participate in a 403(b) plan maintained by your organization.

What are the other significant features?

Most of the 403b retirement plans enable you to take distributions when you reach the retirement age. But, there are many 403(b) plans that allow earlier payments under certain circumstances. For example, a 403(b) plan can allow you to receive payment benefits after terminating the employment, even if that happens before you reach the retirement age.

Your compensation is based on W-2 wages and your compensation in excess of $220,000 may not be considered for making a 403(b) contribution. And more importantly, if the money is distributed before you are 59.5, it will be subject to a 10% early-distribution penalty unless you qualify for an exception. So, instead of relying only on

Social Security benefits or investing in stocks, you can also consider investing in 401(k)/403(b) plans. Your employer-sponsored retirement savings plans, company pensions and personal savings together can build up a generous retirement income for your future years.

Long Term Care Insurance

2011-11-01T04:14:00.000-07:00

What are the odds that you would need Long Term Care Insurance?

As much as one wishes that one would never need long-term care, statistics relating to long-term care requirement are in favor of planning for one's long-term needs through insurance.

At least 40% of people above the age of 65 will need long-term care. By 2020, 12 million senior Americans are expected to need long-term care.
A year at the nursing home could cost as much as $60,000 in larger cities. About 10% of all people seeking health care in a nursing home are likely to stay there for a minimum of 5 years, affecting nursing home bills exponentially.
A home health aide visiting could charge as much as $52.
Specialized nursing at home, which could include giving medication or administering oxygen, could be billed at $24,440 a year.
Medicaid, which covers home health care and nursing home care kicks in only when you have declared yourself and your spouse "poor"; it comes with no small loss of dignity.
Medicare payments in case of hospital stays can stop according to the Prospective Payment System. In such instances patients are released from the Medicare-certified hospital regardless of the patient's condition.
Even when the patient is recuperating in a nursing home after being coercively discharged from the hospital. Medicare coverage is puny, just 2% of the bill.

By insuring your long-term care needs you would be bringing down these medial expenses to a manageable amount, ensuring that you get care in the manner that "you prefer" and in a location of your choice.

Universal Life Insurance

2011-11-01T04:11:00.000-07:00

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Universal life insurance is defined as a kind of flexible permanent life insurance that offers low cost protection of savings element and term life insurance that a person invests for providing a cash value buildup. The savings element, death benefit as well as premiums can be altered and reviewed as your circumstances change. Additionally, unlike whole life insurance, here the policy holder is allowed to use the interest from her/his accumulated savings so as to help pay premiums.

This form of insurance was created for providing greater flexibility when compared to whole life insurance. In other words, it allows the policy holder to transfer money between the savings components and insurance of the policy. The insurance company breaks down the premiums into savings and insurance, thereby allowing the policy holder to make adjustments based on their personal circumstances. For instance, if the savings portion is earning a low return then it may be used instead of peripheral funds for paying the premiums. In simple words, you can say that it is similar to combining a term life insurance policy with a tax-deferred interest accumulating savings account.

An advantage of buying a universal life insurance policy is that apart from accumulating a tax deferred savings, you will not have to pay premiums for the complete policy.

Now, the question is who do you think will benefit the most from the universal life policy? Well, as a universal life policy is often termed as an investment vehicle, only individuals who feel they require life insurance into their seventies would benefit the most out of it. This in turn would give the savings section sufficient time for accumulating into an investment. Most of us don’t need a life insurance policy that late in life, hence it would be advisable to opt for a term life insurance policy and make the needed plans accordingly.

If you think that a universal policy will work best for you, then you need to consider a couple of factors like- Try opting for a long term policy as you need to have it activate for a minimum of fifteen years so as to meet the eligibility criteria and getting the policy returns.

Establish contact with a proficient insurance agent who will review options like whole life and term insurance.

Now, that you have the guidelines by your side, go ahead and opt for Universal Life Insurance now.

Medical Care Insurance

2011-08-27T11:34:00.003-07:00

Do you have a medical cover? Medical care insurances prove very useful in case of emergencies. Imagine yourself in a medical emergency, when you can take care of your loved one and at the same time, have to pay the hospital bills and take appointments from medical professionals. All you need during the crisis is a health insurance policy. However, with a medical care; you can expect better services, faster access to the hospital and doctors, and more peace of mind. Medical care is a contract between an individual and an insurance company. The policyholder pays off monthly premium and in exchange, the insurance company provides monetary and mental support in case of emergency.

Medical care: How it works: Medical insurance covers the insurance policyholder for every medical checkup and treatment. Some companies provide instant services while some providers pay after submitting the documents. In order to apply for the compensation, the policyholder has to claim to his insurance provider. An application form needs to be filled in by the policyholder. The application form should be attached with doctor's prescription and medical test reports. Followed by an investigation from the insurance company's end, the company will pay off your medical bills.

There are different types of medical care:

Preferred Provider Organization: Preferred Provider Organization or PPO is one of the managed Health Care insurances. The policyholder under this cover can get discounts on his plan. It offers a network of medical professionals and hospitals. The policyholder can choose his doctor and hospital from the network.

Health Maintenance Organizations: Health Maintenance Organizations or HMOs offer medical cover at a cost effective price. If the feasibility is the advantage of these plans, their limited range of precautionary measures is their disadvantages. The insurance provider will pay off the medical bills after every treatment or medical appointment takes place.

Full-service health insurances: This medical plan covers all types of illness. The policyholder can avail any medical treatment, to any hospital and from any doctor; he will get his medical expenses paid by his insurer.

Short-term health insurance policy: Short-term health insurance policy covers the policyholder for a certain period of time. This plan generally excludes critical situations such as pregnancy. These policies have strict qualifying procedures and for this reason, very few people can avail this plan. This policy excludes pre-existing medical conditions.

Medicare or Medicaid insurances: This types of medical care policy is designed for senior citizens. If you are retired or have very low income, you can qualify for this plan.

If you want to get the cheapest medical cover, you can consider catastrophic health insurance. These plans are basically built for the people, who have consisting medical condition and history of hospitalization.

source: http://business.mapsofindia.com/insurance/medical-care/
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Insurance Tips

2011-08-27T11:34:00.001-07:00

Insurance is a basic need of every one. Insurance is a service, which is provided by registered companies to individuals and groups. One can insure himself as well as his belongings with insurance. He has to pay a certain amount of money in every month, which is called premium, to the insurance company and in exchange of the fees, the provider covers the policyholder against all impending dangers.

Types of insurance: There are many types of insurance available in the market. However, the common types of insurance policies are:

Life insurance: Life insurance covers the entire life of the policyholder. The insured person receives cash benefits after the maturity of the policy. If the person dies after completion of the term, the cash benefits will be sent to the nominee of the policy. Some of the premium life insurance providers in India are:

Life insurance Corporation of india
SBI life insurance
ICICI prudential life insurance
Bajaj allianz life insurance
Metlife india life insurance
Health insurance: Health insurance covers the policyholder against accidents and bad health conditions. It takes care of all the medical expenses of the insured person. Health insurance can be short term and long term. If the policyholder dies, the cash benefits will be sent to his family on a lump sum basis. Some of the top health insurance providers in India are:

Apollo DKV Insurance Company Ltd.
Aviva Life Insurance
ICICI Lombard General Insurance Co. Ltd.
Life Insurance Corporation Of India
Star Health and Allied Insurance Company Limited
Home insurance: Home insurance covers your home and associated articles in your home. Home insurance is very useful for those, who are living in sensitive areas like natural calamity prone zone. Home insurance can be bought for own house and at the same time for rental apartment (covers belongings, not home). Top home insurance providers are:

ICICI Lombard General Insurance
Oriental Insurance Co. Ltd.
National Insurance Company Ltd.
Car insurance: Car insurance covers your car and its accessories. If your car is damaged in an accident, this cover will compensate it. On the other hand, it also covers personal liabilities. For example, if anyone else's possession is damaged by your car, the insurance company will provide compensation for you. The best car insurance companies in India are:

United India Insurance
National Insurance Company Ltd.
Oriental Insurance Co. Ltd.
Tata AIG Insurance
IFFCO Tokio Insurance
Travel insurance: During travel, any mishap can take place. To avoid financial crisis during travel and to bestow mental peace, travel insurance is a must-have for all travelers. There are single trip insurance as well as multi trip insurance cover available. Some top travel insurance providers are:

Apollo DKV Insurance Company Limited
TATA AIG General Insurance Co. Ltd.
HDFC ERGO General Insurance Co. Ltd
The New India Assurance Co. Ltd
Bajaj Allianz General Insurance Co. Ltd.
How to find the best insurance: There are a number of insurance policies available in the market. The best way to pick the ideal plan for you is to search online. You can browse through a number of insurance plans and can compare their prices. Not all plans will be suitable for you. You should consider your wants and deeds before signing up for any plan.
source: http://business.mapsofindia.com/insurance/insurance-tips/

Online Insurance Policy

2011-08-27T11:33:00.002-07:00

Purchasing an insurance plan has become extremely customer friendly. With new innovations taking place, the concept of online insurance policy is becoming increasingly famous. Given the fact that the present day generation is becoming cyber savvy, online selection and transaction for insurance policies are the next best option for almost anyone. Not only it saves you from the hassle of visiting an insurance agent or broker but also allows you a volley of options online. At the same time you would get the best professional advice and tips of insurance plans.

Online Insurance Service Features

The online insurance policies offer guidance to you and your family, thereby focusing on the well being. You can expect the following services from them:-

It saves your money and valuable time
You get to surf multiple insurance companies and select from the free insurance quotes.
You can compare the insurance quotes online and evaluated them. This is will enable you to buy the policy at best price.
You always have the option of purchasing a brand new policy. If you want you can also renew back your old policy affordable priced.
Online Insurance Policy Coverage in India

Let us have a look at the various policies that you can avail online. The same is elucidated below:-

Online Life Insurance Policy
This is a compulsory policy for every citizen in India. This would provide financial stability along with insurance. You can choose from the various plans that are available online. Depending on your financial assessment you can choose plans like Term Insurance, Money Back Policy, Whole Life Insurance and many more. There are many policies that combine both investment as well as life insurance.

Online Travel Insurance Policy
A travel insurance policy provides you coverage whilst you are on a holiday. The plan covers most of your concerns regarding health insurance, theft or loss of baggage. The policy also provides any other assistance if there is unexpected problem in a foreign company.

Online Car/ Auto Insurance Policy
It is advisable that you possess a valid car insurance policy when you are planning to ride the car or vehicle that you own. You now avail the insurance online. This is highly advisable for private vehicles.

Retirement/Child Insurance Online Policy
An online insurance policy covers almost all the sections that need to be insured. Online insurance also offers you Retirement plans and child insurance schemes. Under the child insurance plan you can secure your child's future and use that later to provide them higher education abroad.

Online Mediclaim Insurance
This is the online version of health and medical policies that any life insurance companies would offer you. These policies would covert the hospitalization cost and treatment expenses of the insured. The insurance covers all sorts of emergency requirements in health hazard that may happen to the insured.

Most people worry about the fact that whether purchasing an online insurance policy is safe or nor. Though people have the phobia of fraudulent cases, it is to be noted that now strict internet security rules are in action. Thus, you can be sure of any online insurance transaction.

source: http://business.mapsofindia.com/insurance/online-insurance-policy/

Mediclaim Policies

2011-08-27T11:33:00.000-07:00

If you take a look at the medical market, you would find that the medical costs are increasing by the day. Keeping this in mind and benefiting from the medical services in case of any unexpected ailment or accidents would thus become very steep. Mediclaim policies act as a solution to keep away from increased medical charges. A reason why if you have not enrolled in to one you must do so at the earliest.

Features of Mediclaim Policies

If you have been thinking about investing in mediclaim policies then you need to be aware of its features and services. Most of the mediclaim plans can be taken for individual purposes as well as for family.

Let us have a look at some of the salient features of Mediclaim policies. The points are listed below:-

If you have a purchased a mediclaim policy then the coverage that you can expect is on inpatient hospitalization, outpatient treatment, ambulance expenses, and post and pre hospitalization charges, domiciliary hospitalization as well in case of ailments that were pre-existing.

The best mediclaim policies would also cover for other cases such as dental treatment expenses and maternity treatment.

You can also avail few policies where there are other benefits as well when you pay an additional premium amount.

One of the major benefits provided by the mediclaim insurance companies is coverage for critical illness.

There are times when the coverage provided by the policy might be shortened. Like wise the coverage needed might just be added in the exclusion part.

Mediclaim Policy Premium

The most important factor when considering a mediclaim policy is the premium. Most of the policies come with a standard to high premium. This premium is levied upon the insurance companies and does not have any fixed rate. In addition, the premium also depends on other allied factors such as the age of the individual and the coverage provided by the policy. Going forward, if you would want to seek the benefits of the policies then you have to take an overview of all the mediclaim plans that suits your need and the premium charged for it.

Companies offering Mediclaim Policies in India

There are quite a few leading companies who deal in mediclaim policies. The eminent names are National Insurance Company, Tata AIG, Royal Sundaram, ICICI Lombard, United India Insurance, HDFC, Bajaj Allianz, New India Assurance, Apollo Munich and Reliance.

Mediclaim Products in India
When you are searching for mediclaim products in India, you have a lot of options. Various companied offer the same in different schemes and policies. Let us have a look at some of the famous ones.

Star Health Insurance

It is known as the first exclusive company in India dealing with health insurance. The products that you can choose from are listed below:-

Overseas Mediclaim
Family Health Insurance
Individual Health Insurance
Travel Insurance and Personal Accident
Apollo Munich

Let us have a look at the mediclaim products that you can avail if you are opting for an individual insurance policy:-

Personal Accident Plan
Easy Health Premium
Maxima
Easy Health Standard
Insure Health
Easy Health Exclusive
The products that are offered for family mediclaim policies are as follows:-

Easy Health Standard
Optima Cash
Easy Health Premium
Maxima
Easy Health Exclusive
source: http://business.mapsofindia.com/insurance/mediclaim-policies/

Health Insurance

2011-08-27T11:32:00.000-07:00

After life insurance health insurance policies are perhaps the most insurance policies required by human beings today. Health is slowly and steadily becoming a major matter of concern for most individuals today. Since most of us today have joined the rat race and every one wants to be rich and successful the one major thing that we are neglecting is our most precious asset health.

Ailments like Heart problems, diabetes, stroke, renal failure, cancer etc were rare till a few decades back but with every passing day these dreadfully diseases are getting more and more common by the day. Treatment is India is no longer cheap. In order to get treated by a good specialist or doctor one has to pay through his nose. Even daily hospital charges are sky high. In order to assist you in the event of an unforeseen health problem health insurance has been introduced.

Most of the renowned companies in India provide comprehensive health insurance polices. These insurance companies have a tie up with the reputed hospital spread across the country. These health insurance policies cover all the costs incurred before hospitalization, during hospitalization and after hospitalization. There are two types of health insurance policies offered by the popular insurance companies in India.

Types of Health Insurance in India

Individual Health Insurance

The most popular form of health insurance policies are the Individual Mediclaim policies. Offered by most of the reputed insurance companies in India the individual health policies insure you against any illnesses. The policies cover the hospitalization expenses for an individual for up to the sum assured limit. The insurance premium is dependent on the sum assured value.

Family Floater policy

Another common policy that is ruling the insurance sector today is the family health insurance policy. The unique feature about this policy is that with the payment of a single premium the entire family is covered against illnesses. This policy also entitles the insured or his spouse of kids to cashless hospitalization and all other benefits that are enjoyed by an individual with an Individual Health Insurance policy.

Health Insurance - Benefits

Below is a list of the advantages of a comprehensive Health Insurance policy

Most of the Family Health insurance policies offered by the insurance companies in India protect you and your family which includes your spouse and two children under a single policy.
One single health insurance policy covers the entire family.
You or any of your family members is entitled to cashless facility in case of hospitalization due to illness. This facility covers a wide network of renowned hospitals spread across the country.
Some of the reputed insurance companies also provide Cash benefits to the insured during the time of hospitalization.
Pre and Post Hospitalization Expenses are taken care of by most of the health care providing insurance companies.
The policy generally covers relevant medical expenses incurred 60 days prior to and 90 days after hospitalization.
Every claim free year entitles the ensured to an additional amount known as cumulative bonus.
The health insurance policies also include Ambulance Charges.
Health insurance policies entitle you to regular free health Check ups
The premiums paid for health insurance policies exempt the insured from paying Income Tax Under Section 80 D of the Income Tax Act

source: http://business.mapsofindia.com/insurance/health-insurance/

Accidental Insurance Policy

2011-08-27T11:31:00.000-07:00

Accidents can happen any day any time and anywhere. We cannot avoid the impending dangers, but we can decrease the losses and damages. Accident insurance can cover you and your family from financial loss due to an accident. Accident insurance is often referred to personal accident insurance.

It also provides financial security against treatments, medical expenses, and hospitalization, caused by an accident. Accident insurance policies cover a person for any injury, caused by an accident. The policyholder will buy the policy while the insurance companies will pay off the medical and hospital bills in favor of the policyholder. In case of accidental death of the policyholder, the insurance company provides cash benefits to the members the policyholder's family. Insurance for accidents are applicable for 24*7.

The terms of conditions of the insurance policy may differ from one insurance provider to another. The insured person receives his cash benefits every month, if he meets with an accident. The cash benefits will continue coming to his account until he will fit enough to work after the accident. The cash benefits are not considered as taxable. The monthly cash benefit does not go beyond post-tax earnings minus state benefits of the policyholder. If the person dies due to the accident or an accidental injury, his cash benefits will be sent to his family in a lump-sum amount.

Accident insurance policy is a vital decision of your life. There are many policies in this category, offered by different insurance companies and bank. However, you should choose the one, which will suit your wants and needs. Moreover, choose a feasible policy, which you will not find the monthly premium difficult to pay off. There are many expensive policies, which cover all the risks, but these policies may not be suitable for you. For example, if you are going to a personal accident policy, which includes adventure sports, the policy will cost much higher than a general one. If you do not go for adventure sports, this policy would be wasted for you.

There are more than nine types of accident insurance available in the Indian market. Some of the most commonly availed policies are mentioned below:

Individual or personal accident insurance: This insurance policy can be opted by an individual. Generally, this policy covers spouse and children. However, several activities are banned under this policy such as adventurous sports.

Children accident insurance: The parents for their children do this policy. Those parents, who are unable to work for their children or faced an accident, buy these policies for their children.

Group accident insurance: This insurance policy has been taken up by the corporate houses for their employees to cover them against any accident.

Team accident insurance: This insurance policy can be taken up by a sports team. With a team accident insurance policy, an organizer can secure an entire team. This is feasible for the organization, since it does not have to pay for separate team members.

Professional accident insurance: Professional accident insurance is best suitable for the self employed professionals. There are many people, who are engage into business or self employment such as lawyer, sportsperson, actor, doctor, tutor etc. This policy is ideal for them.

Travel accident insurance: This insurance policy will protect the policyholder from any financial danger in case he meets with an accident during a vacation.

Some other important accident insurance polices are:

Over 50 accident insurance
Car accident insurance
Self-employed accident insurance
Some of the best accident insurance providers in India are:

ICICI Lombard General Insurance Co. Ltd.
Star Health & Allied Insurance Company Limited
The New India Assurance Co. Ltd
HDFC ERGO General Insurance Co. Ltd
The Oriental Insurance Co. Ltd.
United India Insurance Co. Ltd
Cholamandalam MS General Insurance Co. Ltd.
Apollo DKV Insurance Company Limited
IFFCO TOKIO General Insurance Co. Ltd.
TATA AIG General Insurance Co. Ltd.
Reliance General Insurance Co. Ltd.
National Insurance Co. Ltd.
Bajaj Allianz General Insurance Co. Ltd.
Royal Sundaram Alliance Insurance Co. Ltd.

source: http://business.mapsofindia.com/insurance/accident-insurance/

Travel Insurance in India

2011-08-27T11:30:00.000-07:00

Keeping in mind the modern day lifestyle and its hazards, an effective travel insurance plan is important to have a safe trip. Some of the perils faced by travelers and passengers are the loss of passport, baggage, hospitalization and flight delays. In today's polarized world, issues of concern are much more serious. Threats of theft, smuggling and hi-jacking are dangerous situations. Such kind of anti-social activities are not limited to any national and international boundaries. A safe travel insurance plan is just a way to ensure your safety on your trip.

The Travel Insurance Industry

Travel insurance undoubtedly is a flourishing industry. Every insurer today is working his best to come up with their best plans, keeping in mind 'customer value'. These plans aim to cover all possible risks related to travel. You always have the option to select the policy that suits your requirement. Famous companies have come up with different insurance schemes keeping in mind the changing needs of people.

How do Travel Insurance policies work?

In order to avail a plan, you need to choose a policy that fits your purpose with any established insurance company. Your contract with the company, assures you the coverage of certain belonging, if something unfortunate happens on your trip. If you face any problem that the policy states to cover, you can make a claim. The insurer does the payment.

What does a Travel Insurance Plan cover?

Not all policies provide coverage for the same protection. They vary according to the insurance companies as well as plans. The basic benefits that you can expect are listed below-

Coverage for Theft and Loss
This plan helps if you loose any personal belonging or luggage or even if they are stolen.

Coverage on Travel Delay
This policy helps the passenger in case flight miss or delay.

Health and Medical Coverage
This covers the treatment cost and all other medical expenses that might be required if a passenger falls ill on the trip. The same is applicable if there is an accident.

Coverage for Public Liability
This plan is specially designed to cover the costs in case the holidaymaker is prosecuted for harming others.

Coverage on Cancellation
If you have to cancel a trip due to any illness and any other personal cause, then this policy is of great help.

Top Travel Insurance Plans

If you have been wondering how to go about choosing a perfect travel insurance policy, then you can look at the list below. Names of esteemed brands have been given with the various insurance products they offer.

Reliance General Insurance Co. Ltd.
Reliance Travel Care Insurance -Student
Reliance Travel Care Insurance -Individual
Reliance Travel Care Insurance -Asia
Pravasi Bhartiya Bima
Bajaj Allianz General Insurance Co. Ltd.
Swades Yatra
Travel Asia
Travel Companion
Travel Elite
Travel Assist
National Insurance Co. Ltd.
Overseas Mediclaim
Baggage Policy
IFFCO TOKIO General Insurance Co. Ltd.
Travel Insurance
ICICI Lombard General Insurance Co. Ltd.
Student mediclaim insurance
Domestic Travel Insurance
Overseas Travel Insurance
The New India Assurance Co. Ltd
Overseas Mediclaim Policy
Baggage Insurance
Royal Sundaram Alliance Insurance Co. Ltd.
Travel Insurance
Star Health & Allied Insurance Company Limited
Travel Insurance -ICorporate
Travel Insurance -IFamily
Travel Insurance -IStudent
Travel Insurance 'Individual
Apollo DKV Insurance Company Limited
Easy Travel - Senior Citizen
Easy Travel - Family
Easy Travel - Individual
Easy Travel -Annual Multi Trip
Cholamandalam MS General Insurance Co. Ltd.
Chola Travel Insurance- Individual
Chola Travel insurance- Multi Trip
TATA AIG General Insurance Co. Ltd.
Domestic Travel Guard
Travel Guard
Student Guard
Asia Travel Guard
HDFC ERGO General Insurance Co. Ltd
Domestic Travel Insurance
Annual multi-trip Business Travel Policy
International Business Travel Policy
United India Insurance Co. Ltd
Marga Bandhu Policy
Suhana Safar Policy
Baggage Policy
Overseas Mediclaim Business and Holiday
The Oriental Insurance Co. Ltd.
Suhana Safar Domestic Policy
Overseas Mediclaim Business and Holiday
Overseas Mediclaim Employment and Study
Things to Consider

You might consider few things before selecting the best travel insurance plan for yourself. Some of the important aspects to mull over are the coverage schemes. There are plan that offer specialist protection and some provide general coverage. Once you have analyzed which policy to purchase, its best to compare price before finalizing the deal.

Insurance Policy for Mobile Phones

2011-08-27T07:16:00.000-07:00

With the development of new technologically advanced devices like mobile phones, iphones etc the incidents of burglary has increased drastically. Hence, like life and home insurance, it becomes vital to take mobile phone insurance policies to safeguard your device against any unanticipated risks. Insurance Policy for Mobile Phones in India insures against any theft, fire and other unexpected damages.

Key features of Mobile Phones Insurance in India

Some of the salient features for insurance policies offered by Indian insurance firms are:

Mobile cover in India is flexible and is wide-ranging in order to meet the requirements of the customers.
Mobile coverage entails fire damages, theft & fortuitous external damages
Variable surplus can be provided as per the requirements of the client
The coverage has flexible rate of premiums as per the density of hazards and cost insured
Exclusions under Insurance Policy for Mobile Phones:

Like general coverage, there are certain omissions under mobile phone insurance also. Hence, it is important to keep a tab on the chief exclusions under mobile phone insurance before buying the plan. Some of them are:

Loss or burglary acquired during the process of sharing mobile handset with friend or any other acquaintance cannot be claimed.

Damage caused due to battle and nuclear threats, imprisonment or amputation by customs or any government authority is excluded under the authorized claims.

If you have misplaced your handset while you kept it unattended inside your vehicle, the assertion would be denied. Although, if the handset is misplaced in a clogged car then is regarded as theft and the owner can assert it for burglary.

If the retailer places his handset at the counter and it gets stolen the claim would be denied. Whereas, if the handset is being snatched from the grip of the person then it can be asserted by the owner. In short, negligence in usage of mobile phone is not included in the mobile phone coverage.

Abuse of the mobile handset is also considered as exclusion.

Damage caused to the handset due to overcharging or id used in strange circumstances

Damages caused in the process of repairing, cleaning or preservation of the handset, and then the claim is liable to get denied.

Damages caused due to automatic and electrical collapses

Damages caused due to wear and tear or steady depreciation of the handset, no assertion is entertained by the insurance company.

The exclusions under Mobile Phones Insurance policies vary from firm to firm. The customer can avail for mobile insurance while purchasing the cell. It is important to consider the premium amount paid towards the insurance besides other chief characteristics.

Premium rates of the mobile phone insurance policies

The premium rates of the mobile phone insurance policies are allocated reimbursements equivalent to the value of replacement in case of purchase of a new handset with similar specifications and competence, inclusive of tariffs and other duties.

For instance, if a handset is wort` 8,500, the premium charged on it varies from ` 150 - ` 200. The current cost is ` 20 per cost of ` 1,000 of the amount indemnified. A surplus of ` 2,500 is deducted for every assertion declared.

With the gradual reduction in the mobile handset rates, the premium rates are falling as well. Hence, it is significant to purchase a policy for a year.

Companies offering Insurance Policy for Mobile Phones in India

The renowned insurance firms offering Insurance Policy for Mobile Phones in India are:

National Insurance Company,
Oriental Insurance Company,
New India Assurance Company and
United India Insurance Company
Apart from Insurance firms even mobile companies are offering Mobile Phones insurance in India. BPL, Nokia, BSNL and Reliance are some of the firms offering coverage for the cellular phones. BSNL provides coverage on Alcatel and Nokia handsets for ` 20 per month. Some private mobile firms even offer free coverage to their clients

source; http://business.mapsofindia.com/insurance/policies/for-mobile-phones.html

Insurance Policies for NRI

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A Non-Resident Indian is a person who has the citizenship of India and is residing temporarily in the country of his present address. The person must have a valid passport Government of India and should not plan to apply or have applied for getting the citizenship of his present country of living or of any other country. However, green card holders as well as international residents of Indian origin are not regarded as NRIs for getting insurance.

Insurance policies are must for everyone, for this helps to cover the costs during the time of any mishap. Insurance policies for NRI can be accessible either when the insured has completed the formalities of health check up test reports and moral hazard tests and of application completion during his visit in India or from his current country of living.

Companies offering Insurance Policies for NRI in India

(a) Bajaj Allianz

The different plans of the insurance policies for NRI include.

Invest Gain- Bajaj Allianz Endowment Policy,
Cash Gain- Bajaj Allianz Money Back Policy,
Child Gain- Bajaj Allianz Money Back Policy for kids,
Lifetime Care- Bajaj Allianz Whole Life Policy,
Swarna Vishranti- Bajaj Allianz Differed Annuity Policy
Unit Gain - Bajaj Allianz Unit Linked Whole Life Policy
Eligibility Criteria

International residents of Indian origin while staying in India can apply for life insurance polices.
If any NRI is living outside India for a temporary period can also apply for life insurance.
Option of Premium Payment and Receipt

The insured can pay premiums to Bajaj Allianz either directly through Indian money cheques and DD's or from the account of FCNR/NRE. Option of paying premium with the help of credit card in any of the branch office is also possible.

(b) ICICI Prudential Life Insurance

ICICI Prudential Life Insurance has come up with a wide range of NRI insurance plans which can be personalized in order to meet the requirements of the NRI.

ICICI Prudential Life Insurance Policies for NRI

Wealth Creation Policies

Wealth creation policies protect and guarantee higher returns of ULIPS. The plan names under Wealth Creation Policies are:

ICICI Pru LifeStage Wealth
ICICI Pru ACE
ICICI Pru Premier Wealth
ICICI Pru Assure Wealth
ICICI Pru LifeTime Maxima
ICICI Pru Pinnacle
Education Insurance Policies

The Education Insurance Policies of ICICI Prudential Life Insurance guarantees money at the important stages of the kid's education. The plan names of Education Insurance policies are:

ICICI Pru SmartKid Assure
ICICI Pru SmartKid Maxima
ICICI Pru SmartKId Regular Premium
Retirement Insurance Policies

Retirement plan assures steady income even after the retirement of the insured. The retirement plans of ICICI Prudential Life Insurance are

ICICI Pru LifeStage Pension Advantage
ICICI Pru LifeTime Pension Maxima
Health Insurance

Health insurance plans insure against numerous ailments and at the same time guarantees financial security. The health insurance plans of ICICI Prudential Life Insurance are:

ICICI Pru Health Saver: It offers instant cover for hospitalization and intends to make a fund for keeping the insured prepared for any kind of expenditures related to health.

Hospital Care of ICICI Prudential Life Insurance: The policy facilitates no expenses during the time of hospitalization; extra amount will be forfeited along with imbursement obtained from other medical insurance policies; receiving huge amount of benefit cash which does not relate to the actual billing; benefits of tax on payment of premium of up to ` 15,000 under Section 80D.

Insurance Policy for Doctors

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For a patient, his doctor is a person who guarantees sound well being through flawless treatment. Unfortunately, human inaccuracy cannot be removed and medicos are exposed to the hazards of assertions from customers who have undergone losses caused due to negligence, fault or omission.

Professional Insurance Policy for Doctors averts any considerable threat posed to the fiscal security of the medical practitioner. It not only safeguards the professional interests of the doctors by suggesting safety measures to them but also protects the health of the clients.

Companies offering Professional Insurance Policy for Doctors

ICICI Lombard

Inclusions

Assertions arising out of physical damage or fatality caused by any inaccuracy, lapse, carelessness
Legal accountability incorporating security expenses acquired while examination, reimbursement etc.
Authorized expenditures
Exclusions

Illegal activities
Activities performed under Influence of drugs
Weight loss
Operations such as Plastic surgery
Conditions related with HIV Aids
Non acquiescence with legal conditions
Retaliatory and exemplary injuries
Blood Banks
Sum Insured

On the basis of the disclosure, the insurer has to allot two limits of insurance under the policy:

Any One - Year (AOY)
Any One Accident (AOA)
AOA and AOY should be preferably in the ratio of 1:1 or 1:2.
Premium Rate

Premium paid depends on the Risk category of doctor, perimeters of insurance selected and Ratio of AOA and AOY limits

National Insurance Company Ltd.

Exclusions

Third Party Public accountability
Penalties, retaliatory or estimable damages.
Loss of consumer market, goodwill or any other kind of fiscal loss
Legal responsibility, if any, estimated by concord that would not associate if not for the contract.
Facilities offered under the influence of illegal drugs
Dental healing under general anaesthesia if not performed in hospital.
Usage of drugs for weight loss.
Conditions associated with AIDS
Plastic surgery excluding scar recovery caused due to previous operation or any painful injury.
Personal damages such as defamation, fake arrest, denouncement, psychological injury, etc.
Genetic damages occurred due to x-ray and radioactive materials.
Legal accountability to workers/trainees/freelancers
Inclusions

Coverage for any professional act or faux pas taking place during the tenure insurance, on a condition that the policy is restored without interval and is active when the assertion is made in text against the assured at some stage in the policy tenure.

If the indemnified person claims at some point of the policy tenure, then the approval of such claim symbolizes that the insurer will handle the assertion as if it has been claimed during the policy tenure.

In case of non restoration of the policy, the indemnified will give a specified duration of 3 months for the announcement of assertions for accidents which has occurred during the tenure of policy.
Premium Rate

The premium rate differs between 0.30/100 rupees and 3.00/1000 rupees depending on the kind of Doctor and AOA (Any One Accident) and AOY(Any One Year) ratio.

United India Insurance Co. Ltd

Inclusions -

Insurance for legal accountability to third party emerging out of inaccuracies and lapses or carelessness in professional facilities delivered by the insured
Plans will be issued for a tenure of 365 days
Exclusions -

Any illegal functioning or breaching of any act of decree
Facilities offered under the influence of illegal drugs
Facilities offered by Dentists under anesthesia or any kind of methods transmitted under general anesthesia unless executed in a certified hospital.
Deliberate act of neglect
Third Party Public accountability
Fiscal loss arising due to the loss of goodwill or market
New India Assurance Co. Ltd

Inclusions

Legal liability falling on professionals due to inaccuracies and lapses committed by them while offering professional facilities

Advantage of Retroactive tenure on permanent restoration of policy whereby assertions are registered in successive renewal reported in successive renewal but relating to previous tenure after the first date of the policy, also considered chargeable

Group plans can also be indemnified insuring members of single occupation. Group concession in premium is offered on the basis of the number of associates insured.
Sum insured

The amount insured in this policy is indicated to as Limit of Indemnity, which is allocated on the basis of per policy tenure and per accident namely Any One Year (AOY) limit and Any One Accident (AOA) limit respectively. The ratio these two terms can vary from 1:1 to 1:2, 1:3 and 1:4. The Any One Accident (AOA) level is limited to 25% of the Any One Year (AOY).

source: http://business.mapsofindia.com/insurance/policies/for-doctors.html

Insurance policies for Senior citizens

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Insurance is considered to be a kind of long term savings for the senior citizens of our country so that this money can provide them with financial stability in time of need. A senior citizen most probably at the age of 60 and above suffers or is most likely to suffer with certain ailments which probably come with age hence he needs to keep some sort of a savings which can come of help in time of need. Or even if there are no health issues once a person retires he needs some kind of income to support him through the rest of his life.

Insurance Policy Plans for Senior Citizens

Senior Citizens Red Carpet: Star Health & Allied Insurance Company Limited is a joint venture between Oman insurance company and a number of insurance veterans from India. Senior Citizens Red Carpet is a health insurance specially designed for senior citizens who belong to the age group of 60-69 years. The coverage of the policy extends from ICU expenses, Nursing expenses, Fees for Doctor / Surgeon / Consultant / Cost of Blood, Oxygen, Pacemaker, Cost of Drugs and Diagnostic tests, Treatments for Cardiovascular Diseases / Cerebrovascular Accident / Cancer and Breakage of Bones, Cataract, Renal Complications to Ambulance Charges. This policy is renewable till the person lives however the pre hospitalization charges are not included in the Senior Citizens Red Carpet policy.

VARISTHA Mediclaim for Senior Citizens: The policy has been introduced by the National Insurance Company specially meant to cater to the senior section of our society, the age limit for entry being 60 - 80 years. VARISTHA Mediclaim for Senior Citizens policy covers Hospitalization and Domiciliary Hospitalization expenses under Section I as well as expenses for treatment of Critical illnesses. The diseases covered under critical illness's are Coronary Artery Surgery Cancer Stroke Multiple Sclerosis Organ transplants, paralysis and blindness. The key features of this policy are that the sum assured under Hospitalization and Domiciliary Hospitalization is ` 1,00,000 and under Critical Illness is ` 2,00,000. Ambulance charges would be reimbursed to a maximum of ` 1,000 and the company would not provide any excess amount other than the assured sum as mentioned in the schedule. However there are a separate set of premiums needed to be paid by the different age groups of senior citizens for Mediclaim they fall under 60 - 65 ` 4180, 66 - 70 ` 5196, 71 - 75 ` 5568, 76 - 80 ` 6890 and for Critical Illness they would ` 2007, 2130, 2200 and 2288 respectively under the same age groups.

Mediclaim for senior citizens: Mediclaim for senior citizens is a product of The New India Insurance Co. Ltd. The important salient features of this policy are as follows; to enter this policy a person should be between the age of 60 - 80, a 5% bonus is allowed in case of renewal of the policy, 10% family discount is allowed if both husband and wife are covered under this policy. The key benefits of this policy are the pre and post hospitalization expenses up to 30 and 60 days are covered under this policy and hospitalization expenses incurred for the treatment of illnesses and injuries obviously not exceeding the amount mentioned in the schedule are also covered by the Mediclaim for senior citizens policy . The premiums are paid under specified age groups which are as follows: for the sum of ` 1,00,000 it would be 60 - 65 years ` 3850, 66 - 70 ` 4250, 71 - 75 ` 4700, 76 - 80 ` 5150 and for the sum of ` 2,00,000 it would be 60 - 65 ` 5720 , 66 - 70 ` 6310, 71 - 75 ` 6980, 76 - 80 ` 7650 respectively.

Senior c Senior Citizen Specified Diseases Insurance : Senior Citizen Specified Diseases is a product of the Oriental Insurance Co Ltd specially designed for the citizens aged 60 years and above covering only certain specific diseases. The policy is assured for the sum of ` 1,00,000 to ` 5,00,000 respectively . The policy holder has to make a co payment of 20% on admissible claim amount. Incase of an accident there is 100% coverage and in the case of diseases like cancer and cardio vascular diseases the coverage is 50% of the sum assured.

source: http://business.mapsofindia.com/insurance/policies/for-senior-citizens.html

Insurance Policies for Pregnant Women

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Mediclaim policies in India such as maternity insurance are offered by insurance firms as a component of group insurance policies to corporate houses. None of the general insurance firms provide complete Insurance Policy for Pregnant Women as the coverage shields only unanticipated risk cover and maternity is not categorized under this. Moreover, there are no particular parameters or consistency among the various pregnant women insurance benefits, either in its inclusions or in its omissions. However, there are few firms offering maternity insurance policies but they rarely cover maternity expenses that take place within the nine months of buying the scheme.

Companies offering Insurance Policies for Pregnant Women:

It is vital for maternity insurance to incorporate all expenditures incurred during pregnancy, right from the delivery to post-natal care in Indian hospitals. The companies which offer Insurance Policy for Pregnant Women are: Apollo DKV, ICICI Lombard, United India Insurance, Cholamandalam General Insurance and Star Health. Some of them are described briefly as under:

ICICI Lombard's Health Advantage Plus provides health insurance along with OPD (outpatient department) cover that incorporates pre-natal examinations and medical costs.

United India Insurance offers maternity insurance under its group policy. It offers coverage for maternity expenditures on imbursement of an additional premium and also covers expenditures incurred during hospitalization. The patients admitted in nursing homes are also entitled to an amount of ` 50,000 or the sum assured, whichever is less.

Apollo DKV provides maternity benefits such as day care coverage, expenses met before and after hospitalization, etc. Apollo DKV's Easy Health provides portability of advantages where the ensued advantages allocated under the existing insurance schemes with other insurer can be brought down to Easy health insurance policy.
Inclusions under Insurance Policy for Pregnant Women

A number of group insurance policies offered by insurance firms for working women envelop maternity advantages and insurance. The inclusions under Insurance Policy for Pregnant Women are:

All pregnancy associated hospitalization costs,
Before and after hospitalization costs for pre-determined number of days,
Surgeries and pregnancy related complications and
Expenditures incurred pre- and post-natal durations
Exclusions under Insurance Policy for Pregnant Women

Many insurance policies neither incorporate expenses met during monthly medical checkups after pregnancy nor does it envelops costs incurred towards medications consumed during pregnancy. Insurance Policy for Pregnant Women in India also does not constitute:

Unanticipated events resulting in the termination of pregnancy for the initial few weeks,
Medical costs for pregnancies taking place during nine months of purchasing the maternity insurance policy
The insurance firms offer these benefits under their group policies for corporate firm that is subject to the condition of inclusion of minimum number of individuals working in the organization.

Factors influencing the premium of Insurance Policy for Pregnant Women

The premiums forfeited under group insurance policies offered by Insurance firms that incorporates maternity insurance are influenced by various aspects.

First and foremost, the premium allocated under Insurance Policy for Pregnant Women depends on the company's profile which is being insured. Besides its profile, the sector under which it is functioning and its related risk factors are also taken into consideration. In the FY 2007-08 around 3/4th of firms working in the sector of Information technology, pharmaceuticals and manufacturing picked group insurance scheme with maternity benefits.

Other aspects that influences the premium of maternity insurance is the employee profile, her age group, designation, etc and earlier health insurance assertion ratios applicable to the firm.

The last factor affecting premium is the frequency of utilization of maternity insurance and other health policies by the firm's employees.
source: http://business.mapsofindia.com/insurance/policies/for-pregnant-women.html

Insurance policies for women

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Society is finally realizing the importance of women. Women have finally managed to break the shackles of the four walls and stepped out to keep pace with their male counterparts. The last few decades has witnessed a sea change in the outlook of society towards women. The image of the traditional Indian housewife has undergone a drastic metamorphosis over the last few decades. Women in India today are walking shoulder to shoulder with their male counter parts. Today women are occupying important positions in top notch corporate houses along with being an excellent home maker.

Since women are on the run continuously sometimes for their homes and sometimes for their outdoor work it is very essential that the health of a woman remains in good shape. Taking this into consideration most of the popular insurance companies in India today are coming with insurance policies tailored specially for women. Most of the insurance companies in India today have both life and health insurance policies for women.

Some of the important Insurance policies for women are:

Easy Health Individual Plan: Easy Health Individual Plan provided by Apollo Munich is a comprehensive health insurance plan that can be purchased by men or women. The plan if chosen by women includes in it all the health benefits offered by other plans and also certain maternity benefits suitable for pregnant women.

JEEVAN BHARATI-I (PLAN No. 192): Launched on July 30 2008 by LIC India this plan is an exclusive insurance policy for women. Especially deigned for working women the JEEVAN BHARATI-I (PLAN No. 192 is a money back policy. The benefits offered to the ensured under this plan include optional Accident Benefit, Critical Illness Benefit and Congenital Disability Benefit. The maximum and minimum amount that the insured will receive would be ` 50,000 and ` 2,50,000 respectively.

Vijaya Raji Janani Kalyan Yojana : Vijaya Raji Janani Kalyan Yojana by United India Insurance company is designed keeping in mind the development and welfare of women of the state of Madhya Pradesh.

Swayam Shakti Suraksha; Swayam Shakti Suraksha is currently among the best insurance policies for women in India. A joint venture between one of the biggest microfinance companies in the country SKS Finance's Bajaj Allianz Swayam Shakti Suraksha supports around 1 million women across the country. The policy supports around 3.6 million women in rural India across 18 states. Known as one of the cheapest polices the tenure of this plan extends to 5 years. The policy can be started with just depositing an amount of ` 500.

source: http://business.mapsofindia.com/insurance/policies/for-women.html

Insurance Policies for children

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Every parent wants to fulfill the dreams and aspirations of their child. They want to provide the best for him be it education, life style or marriage. Insurance policies for children are really gaining momentum due to the rise in prices of every possible thing. Parents foresee a future need to supply the needs of their children especially in the field of education. They want him to have a secured future so that even if they are not there tomorrow the child is at least protected financially.

Popular Insurance Policy Schemes for kids

Here are some of the popular insurance policies for children :

Young Star Super: This policy, introduced by HDFC Standard Life Insurance is a unit based policy and is meant for the future planning of children. The minimum premium required to be paid for this policy is ` 15,000. Young Star Super policy holders have a choice in the matter of the sum assured it can range from 5-40 times of the premium paid along with 7 fund options. The policy holder can also choose a double or triple benefit which means that in case of a double benefit if the insured dies the sum assured would be paid to the nominee while the company directs 100% of the premium that is to be paid towards the policy. In the case of the latter 50% of the premium is paid to the nominee every year to maintain a regular inflow of cash. The policy holder is also entitled to a sum of ` 12,500 as buffer addition in case of no withdrawals. Those who go in for a 10 year term policy will be eligible for 50% of the first years premium at maturity and 100% of this amount for staying invested for longer term policies.

Komal Jeewan Plan: Komal Jeewan is LIC's latest plan for children. This plan is specially formulated to take care of all the needs of a child. This plan can be availed from the immediate birth of a child till he attains the age of 26 however a child ceases to enter this plan after the age of 10.The mode of premium is Single Yearly, Half-yearly, Quarterly and salary savings scheme. The sum that is assured would be a minimum of ` 1,00,000 and maximum of ` 25,00,000. Kotak Child Advantage Plan: This plan formulated by Kotak Life Insurance is specially designed to meet the financial needs of your child. Kotak Child Advantage Plan provides your child with the freedom to realize all his dreams. This is a participating plan. For a child to be eligible for this plan he has to be less than 17 years of age. The key advantages of this plan are as follows: On maturity you would receive the basic of the higher sum assured or the Accumulation Account. The money accumulated the accumulation account is invested in various financial instruments, The Automatic Cover Maintenance facility ensures that the policy remains in force in case you miss out on premium payment but this benefit can be got only after three years of the cover .

Starkid : Tata AIG Life's Starkid is an endowment plan for children specifically designed to meet all their future requirements. The key features of this plan are that the Superkid policy offers cash benefit to the child right from the age of 18 till he is 22 which would be 20% of the assured sum, premiums could be paid on a yearly quarterly, half-yearly and monthly basis, in the rare case that the insured is unsatisfied with the policy he can return it to Tata AIG after 15 days of receipt.

Child Gain: Child Gain by Bajaj Allianz is a way to help you enjoy parenthood with responsibility. The special features of this plan are, there is a limited period of premium payment that means as soon as a child attains the age of 18 premium payment stops. The contributions made by you grow by the way of the compounded annual bonuses which is paid to you along with the first guaranteed payout which would be on attaining the age of 18, in addition to this a terminal bonus is also paid, along with insuring the child the parent is also insured in this plan and premiums are to be paid on a yearly, half yearly or quarterly basis.

Summarized Child Insurance Policy Plans :

INSURANCE POLICY	COMPANY	BENEFITS	PREMIUM
Young Star Super	HDFC Standard Life Insurance	Sum assured can range from 5-40 times of the premium paid along with 7 fund options. The policy holder can also choose a double or triple benefit .	The minimum premium required to be paid for this policy is ` 15,000.
Komal Jeewan	LIC	plan can be availed from the immediate birth of a child till he attains the age of 26 however a child ceases to enter this plan after the age of 10	The mode of premium is Single Yearly, Half-yearly, Quarterly and salary savings scheme.
Kotak Child Advantage Plan	Kotak Life Insurance	On maturity you would receive the basic of the higher sum assured or the Accumulation Account. The money accumulated is invested in various financial instruments,	The Automatic Cover Maintenance facility ensures that the policy remains in force in case you miss out on premium payment but this benefit can be availed only after three years of the cover
Starkid	Tata AIG Life Insurance	offers cash benefit to the child right from the age of 18 till he is 22 which would be 20% of the assured sum	Premiums could be paid on a yearly quarterly, half-yearly and monthly basis
Childgain	Bajaj Allianz	as soon as a child attains the age of 18 premium payment stops a terminal bonus is also paid along with insuring the child the parent is also insured in this plan	Premiums are to be paid on a yearly, half yearly or quarterly basis.

Insurance Policies for Individuals

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Out of all the policies Policies for individuals are found in plenty. Since the very onset of insurance this was the segment that was catered to the maximum, individuals for retirement benefits, individuals for life insurance, individuals insuring their vehicles, homes, business etc. Slowly and steadily the insurance market has started catering to broader areas like family, parent child etc.

Insurance Policy Plans for Individuals

Invest Confident: Bharti AXA's unit linked investment cum protection plan provides the best enhanced investment returns. The key features of this plan are, it has the benefit of a single premium payment while you can reap the policy benefits till the age of 70, from the end of the 5th year onwards one will be eligible for special benefits along with choice of investment funds. The advantages of this policy are that at the event of death in the first year of the policy the nominee is guaranteed 25% of the sum assured to him, in case death occurs in the 2nd year then the nominee receives 75% of the sum assured. In case death occurs due to an accident then the insurance company pays the nominee receives three times the amount of the basic sum assured to him. At the end of every 5 years special additions are added to your policy fund and at the age of 70 one receives the policy fund value and from there on the policy ceases to exist.

Spot Suraksha: Spot Suraksha is a simple hassle free insurance policy by Bharti AXA.The main feature of this policy is that it has a single sign up process which insures you instantly. You can avail of the facility of investing your premium in whatever you like from the second year onwards. You are eligible to receive 130% of your first years premium on the maturity of your policy, on maturity of the premium you are eligible to the sum assured plus special additional bonus however the key benefit of Spot Suraksha is that on the unfortunate event of death in the first year of the policy your nominee will receive 505 of the assured sum as well as market index factor annualizes premium. This plan is best suited for individuals who do not like ling drawn processes of paper work involved in getting insurance policies.

Individual Personal Accident Plan: Individual Personal Accident plan has been designed by Apollo Munich to provide superior personal accident coverage to its customers. Apollo Munich assures its customers that no matter where when and how the accident takes place the Individual personal Accident plan policy will cover them of all the unexpected costs. The policy tenure is for a period of one year and covers people between the age group of 5 - 70 years. The exclusive features of this policy are in case of an accidental death or permanent disability 50% of the sum insured is given to the dependent child, and finally you can get your medical reimbursements for in- patient treatment in a hospital due to an accident in seriously injured.

Insurance Policies for Small Business

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Insurance Policies for Small Business play an active role in covering the success or failure of a business venture undertaken on a small scale. Small business insurance plans have gained importance in the last few years triggered by an increase in cutthroat competition among big organizations and the need for survival of small businesses.

A small business can be defined as a venture or firm which functions on a low level of production and constitutes lesser number of shareholders as compared to its large business counterparts. Thus, these small ventures are incapable of attaining the advantages of the market scale and are therefore safeguarded by their respective governments. A consistent capital flow, frequent development and invention of advanced technology can help in expanding the venture in a smart way besides guaranteeing their market presence.

Small business insurance plans are vital instruments which provide monetary security to the owner and its stakeholders but the retirement plan under this policy also helps in providing long-tern retirement benefits to its employees as well. Insurance Policies for Small Business, hence, cover all unanticipated mishaps, excluding few, which can be availed at reasonably priced rate of premium.

Insurance Coverage for Small Business :

Business property
Travel undertaken for business purpose
Debt
Loan undertaken for business purpose
Expenditures incurred during business operations
Eemployee's compensation
Surplus debts
Life
Recruitment practices debt
Health insurance plans for Small Business

One of the vital aspects of small business insurance plans are the health insurance schemes for small ventures provided by the insurance firms for assisting a healthy workforce in the firm and safeguarding long term medical expenditures met by small business during its operations. In an attempt to keep the long-term medical expenses at bay and its impact on the recruitment, health insurance plans under Small Business insurance policies comes with following benefits -

Improved productivity of the workers
Advanced administration of health care expenditures
Reduction in levels of illnesses and injuries leading to decrease in absenteeism by the workers
Companies offering Insurance Policies for Small Business in India

Small Business Insurance Policies in India is not as popular as it is in the USA, with many banks and financial firms joining hands to move forward in that direction. In the past few years US Small Business Administration (SBA) took the initiative of entering into a joint venture with India's Ministry of Small Scale Industry, in an attempt to boost the nation's inter-agency alliance and locate prospects for strategic partnerships between the SBA and India's small and medium enterprises (SME). The pact has assisted India to expand its fiscal activities besides creation employment in both the nations.

US Small Business Administration (SBA)

The US Small Business Administration (SBA) provides its customers a Small Business Administration Categories especially for individuals who are prospective businessmen. The plan incorporates a catalogue for illustrating business initiatives, choosing the appropriate legal format and assessing franchisee prospects. The categories for businessmen in the first year of their venture and early level categories for those between 1-5 years of businesses are also offered by the plan. It also provides loans for small business by working as an insurer for small businesses borrowing from conventional granter.

Wells Fargo

Another American firm which has its sub-division in India and is a prominent small business lender is Wells Fargo. The financial firm provides banking, assurance and investment acknowledgement facilities to small ventures.

Tata AIG General Insurance Company

Among the Indian companies Tata AIG General Insurance Company Limited provides small business disclosures along with alternate insurance in the form of Multiline Package Policy. It is a pre-endorsed packaged scheme incorporating assets, offense, casualty, employee income, unanticipated events and medical, marine and monetary products. It also provides the service of a computerized policy and constitutes basic underwriting policies at affordable rate of premiums.

source: http://business.mapsofindia.com/insurance/policies/for-small-business.html

Insurance policies for business

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Business insurance protects you and your business for claims of coverage due to negligent activities or failure to use optimum care. However you should go in for the type of business insurance which suits your business the most. Every business requires some kind of investment whether big or small hence it becomes absolutely necessary to provide some kind of a financial security to your business. Burglaries and fire brakouts are very common these days making business insurance even more important so that even if the worst happens tomorrow you know you still have hope.

Types of Insurance policies for business

Corporate Insurance: Bajaj Alliance's Corporate Insurance policy Office package protects you and your business from any unfortunate happening that might occur in the course of business.. This policy covers commercial property and contents against fire and allied perils and burglary, covers breakdown of office equipments like desktops and laptops, cash for hospitalization in case the insured is hospitalized and also daily allowance to the family members of the insured. This policy is tailor made just right to suit the needs of a businessman also covering his hospital expenses in case of an accident or ailment.

Corporate Insurance's Corporate Cover: This policy is formulated for businessmen by ICICI Lombard. This policy covers the corporate property against fire, lightning, storm, riots, cyclone, and terrorism. This Corporate Policy also covers any equipments like laptops and mobile phones if damage in the office premises, any loss of cash in transit , any financial losses suffered due to fraudulent means, legal liabilities for the employees of the company and also covers for ambulance chargers in case of any personal accidents.

Shopkeepers Policy

Shopkeepers policy by New India Assurance Company Ltd

Shopkeepers policy by New India Assurance Company Ltd is a package policy specially designed for shopkeepers. This policy comprises of 11 sections which are as follows: Section I - Building & Contents: covers the shop building under any losses caused by fire or allied perils, Section II - Burglary & Housebreaking, covers the contents of the insured shop against robberies, Section III - Money Insurance, covers loss of money in transit , whilst contained in a locker safe and money contained with cashier, Section IV - Pedal - Cycle, covers loss or damage caused to pedal cycle of the insured, Section V - Plate Glass, covers loss occurred to glass plates in the insured shop due to accidental means, Section VI - Neon Sign/Glow Sign, covers loss or damage caused to neon glow signs, Section VII - Baggage, covers loss of baggage of the insured while travelling anywhere in India, Section VIII - Personal Accident, covers the insured and his children mentioned in the schedule and aged between 5 - 70 against an accident or injuries, Section IX - Fidelity Guarantee, covers the loss occurred due to any fraud or dishonesty committed by an employee, Section X - Public Liability, covers legal liability in case of death or injuries to a third party and Compensation to insured's employees under Workmen's Compensation Act or Common Law. Section XI - Loss of Profit, Covers loss of profit due to interruption of business consequent upon loss or damage sustained by property insured under Section I of the policy due to insured perils.

United India Assurance Company Ltd's Shopkeepers Policy

United India Assurance Company Ltd's Shopkeepers Policy covers protection against loss/damage to the building and its contents which are Money in transit, Pedal Cycles, Plate Glass, Neon Sign & Glow sign, Baggage while on travel and Accidental injury causing death/disability.

source: http://business.mapsofindia.com/insurance/policies/for-business.html

Top General Insurance Policies

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In the current scenario, Insurance is much more than just life cover. Over the years it has successfully identified the growing needs for security of its customers and in the process has covered each and every aspect of our life. Today insurance policies envelops everything ranging from robberies to wedding, shops to assets, travel to vehicles, etc. With the initiation of Triton Insurance Company of Calcutta, general insurance industry in India saw the emergence of India's first general insurance house.

General Insurance in other words is a non-life insurance which insures everything excluding life. Health, Holiday, Accident, Travel, Mortgage Protection, etc are some of the aspects that General Insurance covers. As compared to the normal life insurance policies, general insurance policies function in a different method.

Top general insurance companies in India

Here is the list of some of the top general insurance companies in India and their products:

Tata AIG General Insurance Company Limited: The firm started its operation in 2001 and is a joint venture between American International Group Inc. (AIG) and Tata Sons. In the tie-up Tata holds the stake of 74% while AIG posses 26% of the venture. The General Insurance policies offered by Tata AIG General Insurance Company Limited in India are:

Hospital Care
Healthcare
Maharaksha
Secured Future Plan
Householder Insurance
Critical Illness Insurance
Auto Insurance
Travel Insurance
Personal Accident Insurance
Shopkeepers Insurance
Mediclaim Insurance
Hospital Cash Insurance

ICICI Lombard General Insurance Company Limited: The Company initiated it general insurance business in 2001 and is an ISO 9001:2000 certified firm. It is India's premiere private insurance firm and is collaboration between India ICICI Bank Ltd and Fairfax Financial Holdings Limited. At the Asia Insurance Industry Awards ceremony, the company was honored as one of the top three "General Insurance Company of the Year". The General Insurance policies offered by ICICI Lombard General Insurance Company Ltd in India are:

Householder Insurance
Travel Insurance
Personal Accident Insurance
Auto Insurance
Health Insurance

The Oriental Insurance Company Limited: The Company commenced its business in the year 1947 and offered insurance covers to the public at a feasible price. Since 1947, The Oriental Insurance Company Limited has been providing its services to all sections of the society besides offering exclusive covers to mega projects to firms venturing to establish power plants, chemical plants, etc. The General Insurance policies offered by The Oriental Insurance Company Limited in India are:

Personal Accident Insurance
Auto Insurance
Shopkeepers Insurance
Householder Insurance
Travel Insurance
Health Insurance

IFFCO Tokio General Insurance: Known as one of the finest general insurance firm in India, IFFCO Tokio General Insurance offers excellent service to its customers at reasonable costs. The firm has excelled in giving ingenious solutions to its vast clientele. It has been considered as consumer-centric firm and was the first to offer plans to its automobile and fertilizer customers. The General Insurance policies offered by IFFCO Tokio General Insurance in India are:

Travel Insurance
Health Insurance
Personal Accident Insurance
Householder Insurance

Bajaj Allianz General Insurance Company Limited: A joint venture between Allianz AG, who holds 26% in the company's stake; and Bajaj Auto Limited, who hold the remainder shares; Bajaj Allianz General Insurance Company Limited initiated its operations in 2001. It has a capital foundation of around ` 148 crores and is a premiere private insurer in India offering all kinds of non-life insurance such as health, risk management, etc. The General Insurance policies offered by Bajaj Allianz General Insurance Company Limited in India are:

Auto Insurance
Personal Accident Insurance
Health Insurance
Householder Insurance
Travel Insurance

Top Life Insurance Policies

2011-08-27T06:59:00.000-07:00

Life insurance is what that protects your family in your absence. Life insurance policies provide a certain amount of money to your family in case something happens to you. These come as a great financial relief during the hour of needs. There are a number of insurance companies in India that offer life insurance policies to its customers. The top insurance policies in India also act as flexible money-saving scheme.

There are a number of life insurance policies available in India. Different policies come with different features. The coverage amount and policy term also vary. There are several popular insurance companies that offer top life insurance policies in India. Before going for any life insurance policies, compare various policies offered by the top insurance companies.

List of Top Insurance Polices

There are a number of insurance polices available in India offered by the companies like LIC, SBI Life, Reliance Life, Max New York, Bharti AXA, HDFC Standard, Metlife etc. Some of the top insurance policies in India can be listed as below:

LIC

Product Name	Anmol Jeevan Regular Premium
Coverage Amount	` 10,00,000
Minimum Policy Term	5 years
Maximum Policy Term	25 years
Minimum Entry Age	18 years
Maximum Entry Age	55 years
Maximum Exit Age	65 years
Premium Frequency Options	Yearly / Half-yearly

Tata AIG - Raksha

Product Name	Raksha
Coverage Amount	` 10,00,000
Minimum Policy Term	10 years
Maximum Policy Term	25 years
Minimum Entry Age	18 years
Maximum Entry Age	50 years
Maximum Exit Age	59 years
Premium Frequency Options	Annual / Half-yearly / Quarterly / Monthly

SBI Life - SBI Shield Annual Premium

Product Name	SBI Shield - Annual Premium
Coverage Amount	` 10,00,000
Minimum Policy Term	5 years
Maximum Policy Term	25 years
Minimum Entry Age	18 years
Maximum Entry Age	60 years
Maximum Exit Age	60 years
Premium Frequency Options	Annual / Half-yearly / Quarterly

Reliance Life - Relaince Term Plan

Product Name	Reliance Term Plan
Coverage Amount	` 10,00,000
Minimum Policy Term	5 years
Maximum Policy Term	30 years
Minimum Entry Age	21 years
Maximum Entry Age	60 years
Maximum Exit Age	65 years
Premium Frequency Options	Annual / Half-yearly / Quarterly

Max New York - Level Term Policy

Product Name	Level Term Policy
Coverage Amount	` 10,00,000
Minimum Policy Term	5 years
Maximum Policy Term	42 years
Minimum Entry Age	18 years
Maximum Entry Age	55 years
Maximum Exit Age	60 years
Premium Frequency Options	Annual / Half-yearly / Quarterly / Monthly / Single

Bharti AXA - Secure Confident

Product Name	Secure Confident
Coverage Amount	` 10,00,000
Minimum Policy Term	5 years
Maximum Policy Term	25 years
Minimum Entry Age	18 years
Maximum Entry Age	55 years
Maximum Exit Age	60 years
Premium Frequency Options	Annual / Half-yearly / Quarterly / Monthly

HDFC Standard - Term Assurance Regular Premium

Product Name	Term Assurance Regular Premium
Coverage Amount	` 10,00,000
Minimum Policy Term	5 years
Maximum Policy Term	30 years
Minimum Entry Age	18 years
Maximum Entry Age	60 years
Maximum Exit Age	65 years
Premium Frequency Options	Annual / Half Yearly / Quarterly

Metlife - Suraksha Regular Premium

Product Name	Suraksha Regular Premium
Coverage Amount	` 10,00,000
Minimum Policy Term	5 years
Maximum Policy Term	42 years
Minimum Entry Age	18 years
Maximum Entry Age	60 years
Maximum Exit Age	65 years
Premium Frequency Options	Annual / Half-yearly / Quarterly / Monthly

source: http://business.mapsofindia.com/insurance/policies/life-insurance.html

New Insurance Policies in India

2011-08-27T06:57:00.000-07:00

Here are some of the new insurance policies introduced by various companies in 2010 :

Cheapest Health Insurance Plan: Established in 1919 by Sir Dorab Tata New India Assurance is the first fully Indian owned insurance company in India. Cheapest Health Insurance Plan is New India Assurance's latest insurance policy of all times. The yearly premium could be as low as ` 1000 for a minimum assured sum of ` 1, 00,000 for a person who is not more than 35 years of age. A deliberate attempt is made to keep the price of the policy low by restricting the choice of hospitals and covering certain major critical illnesses.

Medicash Plan, Wellness plan and Safety net plan: Max NewYork Life Insurance is one of India's leading insurance companies. It has come up with certain new health insurance schemes to meet the needs and requirements of the people. Max New York Life Insurance offers Medicash Plans, Wellness Plan and Safety Net Plan. The Medicash Plan involves payment of a fixed sum of cash to the insured right from the time of hospitalization till one is released. The wellness plan provide coverage to 38 critical illnesses like deafness, cancer and liver disease and the Safety net plan is a health protection plan which provides coverage for the losses incurred by the insured like accident, critical illness or death.

The Easy Health Plan: Apollo DKV Insurance Company Ltd has come up with an excellent health plan called Easy Health plan that is cost effective and has special variants for all the sections of society. This plan can be bought according to your pocket because it comes in three variants Standard Exclusive and Premium. The cover ranges from ` 1,00,000 to ` 10,00,000 according to the variant to select. The icing on the cake is that you pay just ` 3 per day and get an annual insurance cover of ` 1,00,000 under the Standard variant policy and smile your way through a healthier life. Easy Health plan could be got as early as the age of 5, and the cover is valid for a period of one year.

Top Up and Super Top Up Medicare Policy: United India Insurance Company has launched two new medical insurance policies known as Top Up and Super Top Up Policy. The good thing about this policy is that even if you do not have a medical insurance policy you are eligible for this policy. These two policies are not merely restricted to United India's customers but also to those who have taken medical insurance cover with other insurance companies and also to the employees who are covered under the employee reimbursement scheme. These two policies can add up to 15 lakhs to the basic insurance cover at the payment of a meager premium the rates of which are still awaited. Hence these two policies begin where other medical insurance policies stop.

Young Star Super: This policy, introduced by HDFC Standard Life Insurance is a unit based policy and is meant for the future planning of children. The minimum premium required to be paid for this policy is ` 15, 000. Young Star Super policy holders have a choice in the matter of the sum assured it can range from 5-40 times of the premium paid along with 7 fund options. The policy holder can also choose a double or triple benefit which means that in case of a double benefit if the insured dies the sum assured would be paid to the nominee while the company directs 100% of the premium that is to be paid towards the policy. In the case of the latter 50% of the premium is paid to the nominee every year to maintain a regular inflow of cash. The policy holder is also entitled to a sum of ` 12,500 as buffer addition in case of no withdrawals. Those who go in for a 10 year term policy will be eligible for 50% of the first years premium at maturity and 100% of this amount for staying invested for longer term policies.

Aegon Religare Pension Plan: Aegon Religare life Insurance has introduced a Pension plan called Aegon Religare Pension Plan. The plan provides assistance in the form of a pension to policy holders to take care of their daily expenses after retirement. In the Pension Plan the policy holders have the option of paying the same premium over the term of the policy or even increasing the premium by 5 - 8 % every year according to the rise in their income. This plan was formulated after a research carried out by the company the report of which said that there were many consumers who were concerned about life after retirement but did not know how long and how much to save. Hence Aegon Religare stepped forward and formulated a policy which one can fall back on after retirement.

source: http://business.mapsofindia.com/insurance/policies/new.html

How to Choose an Insurance Policy

2011-08-27T06:56:00.000-07:00

Choosing the right insurance policy for family and for oneself has become crucial in the times of turbulent financial markets and various other unexpected events. It not only determines the concern that we get when our physical wellbeing takes a wrong turn, but is also very helpful for designing a well-structured fiscal plan.

An insurance cover offers many advantages ranging from monetary assistance at the time of unanticipated demise of a major income earner of the family to offering sound monetary future to the family.

Tips for Choosing an Insurance Policy

While selecting the right insurance cover, one should always consider her/his present earnings and the estimated competence to forfeit the insurance premiums at the allotted dates besides the age factor, future fiscal strategies, medical condition, etc.

Other factors which needs to be taken into consideration while selecting the right insurance policy are the policy's cost-benefit ratio and guaranteeing that the insurance envelops all your family members along with the common health issues.The cost benefit ratio of the insurance policy relies on many factors such as what is insured and what are the benefits that come along with it.

Hence while purchasing the policy one needs to keep a strict vigilance on the price of the policy and guaranteeing that the policy rationalizes the benefits included under it.

Besides keeping a close eye on the advantages, the policyholder should also ensure that the promises made by various insurance firms are adhered by.
The different types of covers that people generally prefer are:

Pure Term Insurance: Pure Term Life Insurance offers insurance cover for life for certain period of time. However, the cover offers no maturity advantages but on the demise of the assured, the total amount insured is completely forfeited to the next of the kin.

Endowment Policy: A life insurance agreement structured to forfeit the total amount after a certain maturity period or on the event of the assured demise is known as an endowment policy. The policy offers fiscal safety for a specified tenure. The purchaser forfeits sporadic premiums for a specific tenure and continues to stay protected for that particular tenure. If the policyholder stays alive till the conclusion of the tenure, he is entitled to receive the fund balance.

Unit Linked Insurance Plan (ULIP): ULIP offers life cover in which the policy cost differs from time to time depending on the price of the principal assets at the given point of time.

Money-back Policy: Money-back Policy is the alteration of endowment plan. The basic difference lies in the maturity advantages that are forfeited by the bank at the end of endowment tenures. Money back policies offer cyclic imbursements of partly continued existence benefits during the tenure of the cover.

Retirement Policy: A modification of endowment plan, the only disparity lies in the format of the policy both in terms of tax benefits and desired age of the applicant.

When to buy an Insurance Policy

To choose an insurance policy directly depends on the applicant's age, profile of dependants, family expenditure, current earnings and tax benefits. Here are few suggestions on when to buy the right insurance plan:

Pure term Insurance: It is better to purchase the pure term insurance as early as possible, if you have long-standing responsibilities like automobile loan or home loan. Buying this policy will guarantee utmost financial protection to applicant's family after his demise, sans any extra investments.

Retirement Policy: The right time to buy this policy is when the prospective applicant reaches his early thirties. This plan forfeits the lump sum amount at the time of the retirement which you have invested as yearly premiums.

Whole Life Plan: Purchase this policy if you desire to accrue finance for your family members and provide monetary support in case of any unexpected event.

Endowment Plan: Buy the policy for your son or daughter when they have reached maximum age of five in order to accumulate funds for a particular reason such as your infant's education or your daughter's wedding.

Money-back Policy: If you desire to be given intermittent monetary payments to correspond with different period of your life such as kid's primary education or for higher studies, purchasing the Money-back Policy would be the right decision on your part.

Insurance Industry Marketing USA

2011-08-20T07:05:00.000-07:00

Although a career in the insurance industry is always a promising one, recent developments in the marketing sector of the industry may encourage you to pursue this profession.

Recent data released by the U.S. Bureau of Labor Statistics show that U.S. insurance industry payrolls scaled up in November. The month saw an addition of 2,400 jobs from the previous month, to reach a new high of 2.369 million jobs.

The government always seems to be supporting the insurance industry; for example, the Terrorism Risk Insurance Act (TRIA) program (set to expire December 31) is likely to be renewed soon. The program promises government assistance for private insurance companies hit by immense property damage claims following a terrorist attack.

There is a major scope for a career in insurance marketing, as marketing is the core aspect of any business. Insurance policies are made for clients to safeguard their interests. Types of insurance policies that people can purchase include life insurance, health insurance, homeowners' insurance, renters' insurance, vehicle insurance, and insurance associated with potential natural disasters, such as floods, earthquakes, hurricanes, and tornados. In addition, people can take out policies for things boats, laptops, and precious jewelry. Some Hollywood stars actually take out policies on their appearance.

There are a number of ways insurance companies deploy insurance marketing strategies to attract prospective customers. The first step many pursue is to have a target audience for selling insurance. A specific target audience helps to increase company sales. . Therefore, companies are always on the look-out for talented insurance marketing experts.

Important insurance marketing strategies that companies pursue include the following:

Ensure your target audience receives regular sales letters.

Marketing through the Internet is a tactic many insurance companies are pursuing. Personalized ads can be emailed to customers persuading them to visit the insurance company's website.

Word-of-mouth referrals are very effective, and often, insurance companies provide incentives to their current policy holders who generate new business.

Organizing seminars and dinners for the general public is often used as platforms to interact and to spread the word about new insurance policies.

These techniques help build a strong client base for companies and give them a name in the marketplace.

For entering an insurance marketing career a course in marketing, business/management, communications, or information systems would be advantageous. As an insurance marketing professional, you may choose a general position, or specialize in one, such as direct marketing, electronic communications, or customer relationship management (CRM).

A successful insurance marketing career can lead to important positions in insurance companies. A penchant for marketing, along with a strong belief in insurance, is vital for your success.

source:http://www.marketingcrossing.com/article/220307/Insurance-Industry-Marketing-Imperative-for-Success-in-the-Insurance-Sector/
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