Nimesh Ins & Finserve

Falicitation by LIC's Zonal Manager, Marketin Manager, Sr. Div Manager and other dignitories at Hotel Ramada Plaza Palm Grove, Parla

क्या हेल्थ इंश्योरेंस पॉलिसी पर घटेगी GST? कल होने वाली है काउंसिल की अहम बैठक

GST council meet : कंपनियों का कहना है कि 18 परसेंट GST हेल्थ इंश्योरेंस पर काफी बड़ा बोझ है जिससे लोगों को हेल्थ इंश्योरेंस के प्रति प्रोत्साहित करना मुमकिन नहीं है.

करीब आठ महीने बाद 28 मई 2021 को यानी कल जीएसटी काउंसिल की मीटिंग होने जा रही है. इस बैठक में सरकार के पास आय में कमी से जुड़ी कई चुनौतियां है लेकिन कोरोना काल में हर किसी को हेल्थ इंश्योरेंस (GST on Health Insurance) का महत्व बताने वाली इंश्योरेंस पॉलिसी के प्रीमियम पर 18 परसेंट जीएसटी (Goods and Services Tax) को कम करने की मांग एक बार फिर कई इंश्योरेंस कंपनियों ने की है.

खबर के मुताबिक, देश भर में 11 लाख से ज्यादा नॉन लाइफ एजेंट्स के संगठन The Confederation of General Insurance Agents Associations of India ने भी वित्त मंत्री निर्मला सीतारमण को हेल्थ इंश्योरेंस प्रीमियम पर लगने वाले GST में कटौती की मांग की है.

Happy Birthday Dear...... May God bless you with good health wealth happiness and prosperity always

Now health insurance with Reputwd Insurance Co. for any age....

◇ No room rent capping

◇ No Claim Bonus every year

◇ Entry age - No limit

Pl contact :
Nimesh kapadia
[email protected]

Why do we need Insurance Agents?

An insurance agent is one the most important person in the entire insurance value chain. Insurance selling involves a personal touch. It is true that most of the younger generation people like to navigate through the web to get their insurance, but the ROPO strategy (Research Online Purchase Offline) remains popular. People may want to search for insurance information online, but when it comes to buying a coverage, they prefer interacting with a known Agent, who can answer their queries directly; and provide a more satisfying experience.

Here is why the agents are relevant and will remain relevant in the future as well.

1. The agent will assist you in filling the application and help you in understanding the fine prints in the policy terms and conditions. More often the claims may be denied because the application was inadequately filled.

2. The interaction with an agent is quicker, personalized and transparent compared to other channels of distribution. It is easy to connect face to face or otherwise with an agent any time during the policy term.

3. Every time you reach out to your agent you will be interacting with the same person which is unlike interacting with a chat bot or the call center interaction where the customer service guy will likely always be different. When you have an agent on your side, you have one person who is with you during be it making purchase negotiations, policy issuance, policy changes, during a loss which gives rise to claim and at the time of renewal.

4. An insurance agent has undergone requisite training and is more competent to give you the right advice based on his education and experience.

5. The services of the agent are ‘Free of Cost’. You don’t incur any additional cost when making the purchase through an agent. It is the insurance company that pays the agent.

6. How do you ensure you are making right choices? An agent can discuss your specific needs with you by reviewing your assets or property and make sure you are adequately covered. In case of online channels the customer is confused on what to buy, which limits to choose, which coverage options are best for him, what deductible/Excess needs to be chosen and what all to declare to the insurance company.

7. If you meet with an accident or any other event happens that gives rise to a claim under the policy, your agent will be your first point of contact and will walk you through the process. Based on his industry experience, he can make sure you fulfil your contractual duties adequately at the time of claim.

8. The nature of Insurance contract is different from other products and difficult for a layman to understand. Insurance contracts are Contracts of Adhesion meaning that the terms and conditions are drafted by and the other party i.e. . It is offered ‘take it or leave it’ basis and the insurers have On top of that you have complex conditions like those specific provisions, rules of conduct, duties, and obligations. There is a great need for someone who is familiar with to explain the conditions and the consequence of non-compliance of the contract.

9. The Online sellers and price comparison differentiate the products based on the prices which is governed by the coverage and the limits. Insurance industry, branding, corporate governance, ethics, values and other performance factors like turnaround time, claim settlement ratio, loss ratio etc. the amount of premium. Unfortunately the price comparison site on these important aspects. You need an Intermediary who is out there in the market interacting with different stakeholders and can help you in choosing a carrier who is well suited for your unique needs.

10. An agent can assist you well on the legal issues and help you in grievance handing if any dispute with the insurer arises

Source
Rajneesh Upreti, CPCU, ACII
Founder at BimaMall

Linking insurance premium with traffic violations.

Soon, you may need to pay higher motor insurance premium if you break traffic rules. The insurance regulator and the government have set up a working group to look at linking insurance premium with traffic violations.
Insurance Regulatory and Development Authority of India (IRDAI) said the working group has been constituted to examine a system of linking of motor insurance premium with traffic violations. The insurance companies have to undertake a pilot project in National Capital Territory (NCT), Delhi to implement the premium escalation formula.
This nine-member group has members from IRDAI, Insurance Information Bureau of India (IIBI), Delhi Traffic Police and insurance companies."It peivred that linking Insurance premium to traffic violations committed could reduce road accidents and change driver behaviour," said IRDAI.
Currently, the insurance premium is linked to the type of vehicle and engine capacity. Premium is calculated depending on the claims history of each category in the previous year. Third-party motor insurance is mandatory for all vehicles running on Indian roads.
The central government is also focussing on intelligent traffic management system in the metropolitan and smart cities. Also, the Automated Traffic Enforcement and violations of the Motor Vehicles Act through e-Challan have been initiated to take action against owners/drivers of vehicles involved in traffic offences.
The working group will look at an implementation framework and methodology to link insurance premium with traffic violations.
Further, it will also evaluate the current point system for traffic violations implemented by states and evolve a standard point system considering each traffic violations.
This group will also develop data fields required to implement traffic violations as the rating factor in motor insurance. There could be a system of access to traffic violation history data of each vehicle and transfer of data from enforcement authorities to IIBI database.
The final report on this will be submitted in eight weeks by the working group.

LIC is introducing New TERM insurance on 12th July - Jeevan Amar plan which is 30% cheaper then earlier one

*Two benefit options:*

➡Level and Increasing Sum Assured

➡Lower rates for Non-Smoker lives

➡Special rates for women

➡Attractive High Sum Assured Rebate
Coverage until age of 80 Years

➡Accident Benefit Rider available during PPT under Regular and Limited Premium Policies

➡Option to pay premium as Regular, Single or for Limited Period

➡Option to take Death Benefit in lump sum and/or instalments

Dear Sir/Madam,

Your attention is invited to SEBI notification Number SEBI/LAD-NRO/GN/2018/24 dated June 08, 2018 regarding amendment to Regulation 40 of SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) regulation with reference to mandatory dematerialization for transfer of securities. You may access the said notification on the following link:
https://www.sebi.gov.in/legal/regulations/jun-2018/securities-and-exchange-board-of-india-listing-obligations-and-disclosure-requirements-fourth-amendment-regulations-2018_39263.html

As per the aforesaid amendment, except in case of transmission or transposition of securities, requests for effecting transfer of securities shall not be processed unless the securities are held in the demat form with a depository. The same will be effective from December 05, 2018.

In case you are holding securities of listed companies in the form of physical share certificates, please note that with effect from December 05, 2018, transfer of such securities in physical form will not be allowed except in case of transmission or transposition of securities.

You may approach your Depository Participant to dematerialize such securities proactively to avoid last minute rush to dematerialize just before intended transfer.

Regards
Central Depository Services (India) Limited

SEBI | Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Fourth Amendment) Regulations, 2018

Term Insurance Claim Settlement Ratio is one of the important attributes to measure a company’s performance and customer satisfaction. Claim Settlement Ratio for Term Life Insurance can go to as high as 99%. Based on the latest stats, we have provided below the complete list of Claim Settlement Ratio for various Life Insurance companies in India. The Ratios provided below has been updated based on information and stats as per latest quarter. The Insurance Regulatory Authority of India (IRDA) officially releases this data to the general public.

file:///C:/Documents%20and%20Settings/SK/Desktop/Term%20Insurance%20Claim%20Settlement%20Ratio%20IRDA%202018%20-%20FinApp.html