Published in Mint on Apr 26 2015 As a financial product, a life insurance policy is the most meaningful for your dependants as it promises to protect them financially in the event of your death. Therefore, when you buy a life insurance policy, it is important to mention a nominee who will be entitled to […]
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Insurance gets a new distribution channel
Published in Mint on March 23 2015 The insurance industry is ready for a new distribution channel—insurance marketing firm, officially abbreviated as IMF. The channel will be allowed to distribute policies of two insurance firms in the same line of business, and will also be allowed to distribute other financial products as allowed by the […]
Insurance amendment bill: necessary but not sufficient
Published in Mint on Mar 11 2015, Written by Kapil Mehta If all goes as planned, the Insurance Laws (Amendment) Bill, 2015, which has been approved by the Lok Sabha, will become law over the next few weeks. The first version of this bill was introduced in the Rajya Sabha seven long years ago. The most […]
Please don’t die till I get you a life insurance cover
Published in Mint on 6th August,2014, Written by Kapil Mehta Term life insurance is a difficult concept. There are no returns if you live but a large payment to the family if you die. Term life accounts for less than 10% of sales in India compared with over 35% in the US. Apart from being […]
Will RBI nod make banks insurance brokers?
Published in Mint on Jan 19 2015 After deliberating for a year, the Reserve Bank of India (RBI) came out with guidelines on entry of banks into insurance business on 15 January, allowing banks to become either a corporate agent or an insurance broker. As insurance brokers, banks become directly responsible for the sale of […]
Why is the insurance Bill so important?
Published in Mint on Dec 16 2014 Last week, a select committee of the Rajya Sabha submitted its report on the Insurance Laws (Amendment) Bill, 2008, and the Cabinet approved it, incorporating the amendments suggested by the committee, for presenting the Bill in Rajya Sabha. It’s expected that the Bill will go through during the […]
We sold insurance worth Rs. 21 crore in 3 years and turned profitable
Published in Yourstory on 22nd August 2014 SecureNow is a fast-growing insurance broking company based in Delhi. It helps institutional clients purchase employee benefits, property, and liability insurance solutions. With unique features such as instant quotes for bespoke products, it has quickly made a name for itself.Brainchild of Abhisek Bondia and Kapil Mehta, SecureNow has […]
In insurance parlance, burglary and theft are not the same
Published in Mint on, December 24 2013, Written by Kapil Mehta Which is better—an individual policy or a family floater plan and why? —Amit Family floater plans are best if both spouses have almost similar age and are in good health. Typically, family floater insurance is priced based on the eldest person’s age. If other members […]
Buying a life insurance policy? Don’t go just by the claim settlement ratio of the insurer and ignore other parameters
Buying a life insurance policy? Don’t go just by the claim settlement ratio of the insurer and ignore other parameters By Sunil Kumar Singh Contains comments by SecureNow Insurance Broker LIC 97.42%, SBI Life 95.48%, Kotak Mahindra 92.10%, Bajaj Life Insurance Limited 90.61%, Aegon Religare 66.06%, HDFC Standard 96.17%. Wondering what this means? Well, […]
Ethical Dilemmas in Insurance
Published by the Financial Planning Standards Board India in their April-May 2013 issue Sophie’s Choice, an award winning movie produced in 1982, beautifully portrays the difficulties and dilemmas in certain decisions. Sophie and her two children are imprisoned in a Nazi war camp. Sophie is told that one of her children can live and the […]