Tag Archives: Insurance

Mis selling of Insurance Policies

Mis-selling of insurance policies is a serious issue in the insurance industry, according to Mr J. Hari Narayan, Chairman, Insurance Regulatory and Development Authority (IRDA). The instances of mis-selling is significantly larger in the unit linked insurance plans (ULIPs), Mr … Continue reading

Posted in India, Insurance | Tagged , | Leave a comment

Insurance Amendment Bill on its way to Approval

Almost two years after the UPA government referred the Insurance Amendment Bill aimed at raising the foreign direct investment cap in the sector from 26% to 49%to a Group of Ministers (GoM), the panel finally paved the way for the … Continue reading

Posted in India, Insurance | Tagged | Leave a comment

Don’t confuse insurance with investment

(Source: The Times of India, August 31)   It’s the most common mistake, and they get hit on both sides, says financial planner Gaurav Mashruwala Ashfak Shaikh never asked his parents for pocket money. Since his childhood, he knew his … Continue reading

Posted in Insurance, Investing | Tagged , | Leave a comment

Why of Insurance v/s Other Savings

Contract Of Insurance: A contract of insurance is a contract of utmost good faith technically known as uberrima fides. The doctrine of disclosing all material facts is embodied in this important principle, which applies to all forms of insurance. At … Continue reading

Posted in Insurance, Investing | Tagged , | Leave a comment

Insurance & Microinsurance Sector Action Hotting Up

The insurance sector is likely to become more crowded, with four companies, which are awaiting approval from the Insurance Regulatory and Development Authority (IRDA), starting operations. “We cannot share further details on the pending approvals. We have asked for some … Continue reading

Posted in India, Insurance | Tagged , | Leave a comment

Glossary of Insurance Terms: Part I

Accident An event or occurrence causing damage/injury to an entity, and is unforeseen and unintended. Accident Benefit Provides for payment of an additional benefit equal to the sum sum assured in instalments on permanent total disability and waiver of subsequent … Continue reading

Posted in Insurance | Tagged , | 1 Comment

The Yaksha Question

In Mahabharata, the great Indian epic, there’s a story of a Yaksha asking some intriguing questions to Yudhisthira. The story goes like this…. One day while living in exile in the forest, Yudhisthira finds that while attempting to drink water … Continue reading

Posted in Insurance | Tagged , | Leave a comment