Insurance Plans Reviews and Articles

Renew your health insurance policies easily

Posted in health insurance by kishosingh on April 15, 2009

Now, you can renew your health insurance policies very easily and rightfully. From June, 2009 even non-life insurance companies also will renew your health insurance. A new terms & condition announces that such rejection will be rare and exceptional now.

According to the news no insurance companies can reject renewing your health insurance policies now which you have claimed previous years or during premium renewing cover arbitrarily.

IRDA (Insurance Regulatory & Development Authority) announced in news with Hindustan Times, “ordinarily renewable except on grounds such as fraud, moral hazard or misrepresentation of facts. Specifically, renewal shall not be denied on the ground that the insured had made a claim in the previous years.”

If insurer proposed to increase your premium while renewing your insurance policy then they would have to inform you before three months for it. Along with it they would have to explain all the details with reasons.

J Hari Narayan who is the chairman of IRDA told with HT in a press, “There were several complaints from policy-holders who had claimed earlier that their insurers have refused renewing their policies next year without giving reasons for rejection.”

From now the prospects of health insurance will be upfront with all the details including all coverage. Maximum age to renew will be decided. All the details of pre-existing diseases will be in details.

It is the much comfortable news for those who have health insurance policies and those who have to renew this. We can’t say how effective it because health insurance policies are very complicated subject. In spite of the news announce that now health insurance policies will be easy and all the details will be in prospectus.

Still there is no review about the news however; we assume that soon there will be practical aspect of the news. If health insurance policies will be truth like the news then surely everyone will feel comfortable.


Jivan Anand Life Insurance Policy from LIC and My Experience

Posted in life insurance by kishosingh on February 11, 2009

I have already told you in my previous post about my experience with corporate health insurance. Now, I want to share my own life insurance experience to you. I am 24 years old still I was not insured. Once day, I met with my teacher friend. We were talking with some different topic. Suddenly, we come to the insurance topic. He asked me about my life insurance. I told him that I don’t think about insurance and have not thought over the insurance policy.

Now, he was serious. He begins arguments with me about insurance. He gives one suitable argument that no car and motor bike run on road without insurance then you do you not think about your life insurance? “We also run on road every day then why should we don’t feel about our life insurance?”

After that logic I had no space for arguments. That time I decided to be an insured person. He was an insurance agent actually. That is why he wanted to make me insure. In spite of some reality was there. I asked him to tell me about best policy. He was my friend so he suggested for Jivan Anand Life Insurance of LIC.

He told me that JEEVAN ANAND is unique combination of ’’Whole Life’’ and ’’Endowment’’ policy. By this policy I was able to get an insurance of whole life without paying policy amount.

He told me that if you get a policy of Rs. 1 lakh then you have to pay only premium of Rs. one lakh. After that you will get endowment at the end of the selected term or on end of your life.

He told me about premium also that you are able to pay in term of yearly, half-yearly, quarterly or monthly. I saw an advertisement also nearly about Jivan Anand policy that if you take the policy then your life will be “ANAND HI ANAND”.

Now, I want to ask that let me know Jivan Anand is right for me or is there any other policy which is better for me?

Insurance policy not only for oneself but for the significant and tangible things of life

Posted in insurance by kishosingh on December 11, 2008

In this fast paced world where the element of uncertainty dominates the scene, it is quite a sensible thing to get an insurance policy not only for oneself but for the significant and tangible things of life. With easy premium rates and convenient policy availing procedure, one can certainly get a policy of his choice within a space of very short time.

Ramnath Kashyap is a trader who deals in the wooden decorative items. His office is located in the beautiful valleys of Kashmir from where he transports all the manufactured material to the different parts of the country, but as every body knows, Kashmir has been an active zone of terrorist activities for the past many years. Due to it many times, Mr. Kashyap’s business has suffered a lot. Twice, his office was blazed off, by these sadistic social elements, due to which he suffered a big loss worth in crores. Not only the monetary loss but his inability to supply the orders also robbed him of his goodwill in the market resulting in leaving an indelible stain on his business profile. But not any more, as of now Mr. Kashyap has a general insurance policy by his side. This policy guards him from the loss occurred due to such incidents. General insurance policy in today’s time holds a lot of significance for the people of society, which chiefly includes business class people.

Speaking more elaborately on the topic of ‘general insurance’. It is a concept in the insurance domain that covers all the intangible aspects of life except the life itself which is covered under the title ‘life insurance’ policies. Under a general insurance policy, a person gets a cover against all kinds of uncouth jolts orchestrated by man (whether intentionally or unintentionally) or by the nature. Thus, a general insurance policy offers guard to the subscriber against all kinds of perils such as burglary, fire accidents etc. As said earlier, it even shields the person from the atrocities of nature in the form of floods, Tsunami and even earthquake. Earthquake which is one of the widespread phenomenons around the earth has been an event that has propelled the popularity of this policy. Not only the damage caused by earthquake but incidents like the recent Orissa floods and not to forget the destructive Tsunami tide which hit the Indian shores in 2006, has been the chief contributors in spurring the demand levels for general insurance domain. Normally, a general insurance policy is for a maximum tenure of one year. An ideal proposition for the likes of traders and for the families, it is one aspect of insurance where people can get their personal assets and other accessories insured. For people who are into business profession, it can work wonders by providing insurance for stock of raw material, insurance of office and other business related commodities.

However, after the recent Mumbai attacks, there has been a steep hike in the demand levels of the general insurance policy. The reason, well it is because, these incidents have been an eye-opener for people living in metropolitan who until now were thinking that terrorism is restricted to the border-aligned areas. But the 26/11 attacks certainly proved that the nemesis of terrorism is finally sprouting in the urban areas too, which accounts for the steep hike. With the introduction of terror based general insurance policy, majority of the people both from the middle class section as well as from the business class are not shying away from the idea of buying the policy.