How can an employer differentiate its overall Employee Benefits design?

There are many facets to preparing a design for an optimum employees benefits program. Below are a few tips that will help you stay ahead and relevant –   Aligning the employee-benefit strategy with the overall business objective of the company. You need to periodically revisit the benefits strategy to ensure that it supports business […]

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What are the advantages to a borrower to buy credit life insurance?

A credit life insurance policy prevents the borrower’s family to repay the loan in the case of the borrower’s death or disability. Following are the advantages to a borrower to buy credit life insurance policy – 1. Save your family from financial hardship – If you have credit life insurance, you are not leaving behind […]

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You cannot change a term plan’s specifications after buying it

Published in Mint on Jan 19 2017, Written by Abhishek Bondia   What is an adjustable life insurance plan? Can this be done for a term plan? —Gautam Chopra An adjustable life insurance gives the option of changing the plan’s specifications during the term of a plan. Changes can be made to the sum assured, […]

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Conflicts of interest hurt the business of insurance

Published in Mint on 6 December 2015, Written by Kapil Mehta Businesses deal with conflicts of interest routinely. Most such conflicts are harmless. The worst outcome of a pushy, incentive-driven salesperson is that like P.G. Wodehouse’s Bertie Wooster you, too, may end up with horrible purple socks never to be worn. In some cases, though, […]

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What is the meaning of An Insurance?

The concept of insurance originates from the principle of sharing the risks by a large group to reduce the burden on the few. Insurance also refers to ‘Risk Transfer’ in the language of risk management techniques. So, let’s discuss in detail what is the meaning of Insurance. Insurance is a legal contract involving two parties, […]

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What are the different Types of Life Insurance Policies?

Similar to health insurance, life insurance policies are of two types: Individual Life Insurance Group Term Cover Unlike health insurance, there is no family life insurance cover, although, there can be joint life covers. Group term cover is a simple term plan which is provided to a large homogenous group of people. The only difference […]

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76,000 LIC agents call it quits, private insurers add 50,000 agents

Published in Cafemutual on 26th August, 2016 Agent attrition has been an ongoing issue in the life insurance industry. A recent data provided by Life Insurance Council (LIC) shows that around 27000 agents have left the distribution of life insurance policies. LIC is a trade body of the life insurance industry. Surprisingly, state owned LIC […]

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