IRDA NEW REGULATIONS FOR ULIP

1.IRDA make new rules for Unit-Linked Insurance Plans (ULIPs) coming into effect from September 1, 2010.
2. IRDA try to make ULIPs more investor friendly, the insurance regulator has directed the insurance conpanies to reduce charges and consequently improve return for policyholders.
3.IRDA also attempted to distinguish ULIPs from mutual funds by forcing insurance conpanies to incorporate life cover that is at least 10 times the premium.
4.To sustain the lower charges, insurance conpanies have been forced to halve commissions and cut expenses.
5. the insurers cannot be modified existing products to make them compliant.
6. All insurance conpanies have been asked to file completely new products with fresh unique product identification number from IRDA.
7.The regulations seek not only to redesign the product but also change the operational model as the existing cost structures .
8. so next month you see newly designed ULIP’s but I think market is up and investor always avoid ULIP’s as investments tools

key words;-ULIP NEW PLANS IRDA RULE

HOW TO BECOME A MILLIONAIRE INSURANCE AGENT PART 1

We start this series for insurance agent and you wonder that in my family and near relationship no one is an insurance agent but some of my friends like shri rohit bist, shri mahender singh ji, shri mahesh dan ji is insurance agent so I start this series to give my ideas to insurance agent for increase their business this is the part I of this series.
1.Fisrst of all try to make powerful your sun planet because god sun make your personality powerful and if your sun is powerful than anybody believe your advice so it is necessary to all insurance agent that they give a pot of water to god sun everyday with mantra of “ om suryay namah”. It will take your 2 minutes daily but see result in 1 month.
2. second step: - you remember that man is a habit to follow others (in Hindi called bhedchal) so always make a photocopy of final payment of your client (it is not necessary that this person is your client you may collect this letters or details by your insurance company office) and now discuss this payments to your friends and your targeted person. It will make this person greedy and grow a seed of insurance thinking in his mind. (please not to use death claim for this purpose because no one think that they die any day and this is the main cause that generally they unlike endowment plans )
3. For example if any person have an endowment policy of 20 year and he pay 136 monthly premium then I think his maturity payment is near 60000 if you tell anyone about this her mind be greedy and he think that 136 monthly is not a big amount but he think 60000 is a big amount, but not to say him that he make a policy just wait after a few meetings and few more examples he automatic say you that “sir what is best insurance plan for me?”
4. We will continue this article, but this is time to take a break in this break you may try these two concepts and wait next parts of this article on this blog. Please do not forget to tell us your comments.

HOW TO SURRENDER LIC POLICY

1.generally it is not suggest surrendering an insurance policy because if you surrender your policy it always deduct the first year premium you've paid,
2. normally if you surrender your policy an insurance company only return 20-30% of your balance premiums paid plus all bonus accrued till that date.
3. Surrender value is payable only after three full years premiums are paid to LIC. More over if it is a participating policy the Bonus get attached to it as per prevalent rules.
4. If due to any reason when you wish to terminate/discontinue your insurance policy then visit the nearest branch in your location or contatact your LIC agent .
5. download LIC application form for surrender of policy from this web link
http://www.docstoc.com/docs/5111697/LIC-Application-form-for-Surrender-of-Policy
if your policy different from LIC thenfor your company surrender form please visit your company nearest branch
6. fill this form and attach your original policy and deposit it on your nearest LIC office.

MAX BUPA HEALTH INSURANCE PLANS

1. Max bupa health insurance company is a max India joint venture company.
2. Max bupa health insurance launch his health insurance product in brand name of “heartbeat”
3. Max bupa have 3 heartbeat health insurance plans
a. heartbeat platinum b. heartbeat gold c. heartbeat silver
4. Max bupa plans also includes several Maternity Benefits - Medical Expenses for the delivery of a child under family floater plans
5. Max bupa plans cover specified vaccination expenses for children.
6. Policy covers Reasonable and Customary charges for Hospital accommodation.
7. other benefits available on max bupa health insurance heartbeat plans is Pre & Post hospitalization Medical Expenses, Health Checkup, medical expenses for an organ donor’s treatment for the harvesting of the organ, ambulance expenses, etc
8. For more details about max bupa health insurance plans please visit company website on this link
9. Information given here is only brief details of max bupa plans it may be change by company time to time so please refer your information offer documents for latest cover in your policy
Key words:- old age health insurance , family health insurance, max bupa plan details, best health insurance in India