HDFC Standard Insurance

02:18 |

Established on 14th August 2000, HDFC Standard Life Insurance Co. Ltd. is a joint venture between Housing Development Finance Corporation Limited (HDFC Limited) - India's leading housing finance institution, and a Group Company of the Standard Life Plc, UK. The Company is one of leading private insurance companies, offering a range of individual and group insurance solutions, in India. Being a joint venture of top financial services groups, HDFC Standard Life has adequate financial expertise to manage long-term investments safely and resourcefully.

HDFC Standard Life Insurance offers a range of individual and group solutions, which can be easily personalized to specific needs. Its group solutions have been planned to offer complete flexibility, together with a low charging structure. As of 31 December, 2008, the Company's new business premium income stood at Rs. 1,839.70 Crores; it has covered over 812,811 lives so far. Given below is a comprehensive list of policies and products on offer by HDFC Standard Life Insurance:

Protection Plans

HDFC Term Assurance Plan
HDFC Loan Cover Term Assurance Plan
HDFC Home Loan Protection Plan

Children's Plans

HDFC Children's Plan
HDFC Unit Linked Young Star II
HDFC Unit Linked Young Star Plus II
HDFC Unit Linked YoungStar Champion

Retirement Plans

HDFC Personal Pension Plan
HDFC Unit Linked Pension II
HDFC Unit Linked Pension Maximiser II
HDFC Immediate Annuity

Savings & Investment Plans

HDFC Unit Linked Endowment Plus II
HDFC SimpliLife
HDFC Unit Linked Endowment II
HDFC Unit Linked Enhanced Life Protection II
HDFC Unit Linked Wealth Maximiser Plus
HDFC Unit Linked Endowment Winner
HDFC Endowment Assurance Plan
HDFC Money Back Plan
HDFC Single Premium Whole of Life Insurance Plan
HDFC Assurance Plan
HDFC Savings Assurance Plan

Health Plans

HDFC Critical Care Plan
HDFC SurgiCare Plan

Group Plans

Group Term Insurance Plan
Group Variable Term Insurance Plan
Group Unit Linked Plan - Gratuity
Group Unit Linked Plan - Superannuation
Group Unit Linked Plan - Leave Encashment

Contact Address

HDFC Standard Life Insurance Co. Ltd.

'Trade Star', 2nd floor, 'A' Wing

Junction of Kondivita and M.V. Road

Andheri-Kurla Road

Andheri (East), Mumbai - 400059

Website: www.hdfcinsurance.com

Comments (0)

Birla Sun Insurance Co. Ltd

02:18 |

Company Profile

Established in 2000, Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group, a well known and trusted name globally amongst Indian conglomerates and Sun Life Financial Inc, leading international financial services organization from Canada. The local knowledge of the Aditya Birla Group combined with the domain expertise of Sun Life Financial Inc., offers a formidable protection for its customers’ future.

With an experience of over 9 years, BSLI has contributed significantly to the growth and development of the life insurance industry in India and currently ranks amongst the top 5 private life insurance companies in the country.

Known for its innovation and creating industry benchmarks, BSLI has several firsts to its credit. It was the first Indian Insurance Company to introduce “Free Look Period” and the same was made mandatory by IRDA for all other life insurance companies. Additionally, BSLI pioneered the launch of Unit Linked Life Insurance plans amongst the private players in India. To establish credibility and further transparency, BSLI also enjoys the prestige to be the originator of practice to disclose portfolio on monthly basis. These category development initiatives have helped BSLI be closer to its policy holders’ expectations, which gets further accentuated by the complete bouquet of insurance products (viz. pure term plan, life stage products, health plan and retirement plan) that the company offers.

Add to this, the extensive reach through its network of 600 branches and 1,75,000 empanelled advisors. This impressive combination of domain expertise, product range, reach and ears on ground, helped BSLI cover more than 2 million lives since it commenced operations and establish a customer base spread across more than 1500 towns and cities in India. To ensure that our customers have an impeccable experience, BSLI has ensured that it has lowest outstanding claims ratio of 0.00% for FY 2008-09. Additionally, BSLI has the best Turn Around Time according to LOMA on all claims Parameters. Such services are well supported by sound financials that the Company has. The AUM of BSLI stood at Rs. 8165 crs as on February 28, 2009, while as on March 31, 2009, the company has a robust capital base of Rs. 2000 crs.

Vision

To be a leader and role model in a broad based and integrated financial services business.

Mission

	To help people mitigate risks of life, accident, health, and money at all stages and under all circumstances
	Enhance the financial future of our customers including enterprises

Values

	Integrity
	Commitment
	Passion
	Seamlessness
	Speed

Individual Solutions

At Birla Sun Life Insurance, we look at life from your perspective. Hence, no matter what your dreams are - be it long term protection, wealth creation, health, retirement security or your children’s education, we provide you customised insurance solutions to meet all your Life needs successfully.

	Our Protection Solutions for your family's life insurance needs.

	Our Children’s Future Solutions To take care of your children's need.

	Our Wealth with Protection Solutions To help you create long term wealth & protect your family.

	Our Health & Wellness Solutions To cover you & your family's current & future health need.

	Our Retirement Solutions To financially secure a happy retired life.

Contact Me

Toll Free	1-800-270-7000
SMS	BSLI to 56161

Write to us @

customerservice@birlasunlife.com

Comments (0)

Heath Insurance

02:17 |

It is said that a healthy mind resides in a healthy body. Hence it is very important to stay healthy. These days life is very fast and stressful. No matter how much you care one can always fall ill.

Health treatment nowadays is very costly. More than the disease it is the cost of treatment that takes its toll. To get rid of health worries health / medical insurance is the answer. Health insurance policy not only covers expenses incurred during hospitalisation but also during the pre as well as post hospitalisation stages like money spent for conducting medical tests and buying medicines. The cover will be to the extent of the sum insured.

An added attraction of Mediclaim policies is the tax benefits which they attract under Section 80D. The maximum amount of deduction available under this section is Rs 10,000. In case of senior citizens, the maximum limit is Rs 15,000.

Individuals also have the option of covering themselves for medical expenses by opting for the 'Critical Illness (CI)' rider available with life insurance policies. Life insurance companies have their own list of critical illnesses as defined by them. In case of a CI rider, on the occurrence of a 'critical illness' during the policy tenure, an amount as proposed in the policy will be paid out to the individual. This is irrespective of the expenses incurred by the individual on hospitalisation, medicines and other such costs.

Health insurance companies are offering innovative products to their customers these days. The latest product in this line is 'cashless hospitalisation'. Here individuals do not have to pay for their hospital bills in case of hospitalisation; the insurance company settles the bill directly. But certain conditions like the hospital needs to have a tie-up with the insurance company, the documents need to be in order etc. have to be met.

Apollo DKV Insurance Company Ltd.

Aviva Life Insurance

Bajaj Allianz General Insurance Co. Ltd.

Birla Sun Life Insurance

E-Meditek Solutions Limited

Family Health Plan Limited

Health India-Bhaichand Amoluk Insurance Services Pvt. Ltd.

HSBC Health Insurance

ICICI Lombard General Insurance Co. Ltd.

Life Insurance Corporation Of India

Max New York Life Insurance

Med Assist India Ltd.

MetLife India Assurance Company

National Insurance Company

Paramound Health Group

Reliance Health

Royal Sundaram Alliance Insurance Company Limited

Star Health and Allied Insurance Company Limited

Tata AIG

The New India Assurance Co. Ltd.

United Healthcare

United India Insurance

Comments (0)

Auto Insurance

02:16 |

Highlights

This policy covers all types of vehicles plying on public roads such as:-

Scooters &Motorcycles
Private cars
All types of commercial vehicles
Motor Trade (vehicles in show rooms and garages)

As per the Motor Vehicles Act, 1988 it is mandatory for every owner of a vehicle plying on public roads, to take an insurance policy, to cover the amount, which the owner becomes legally liable to pay as damages to third parties as a result of accidental death, bodily injury or damage to property. A Certificate of Insurance must be carried in the vehicle as a proof of such insurance.

Two types of covers are available:

Liability only policy. This covers third party liability for bodily injury liability and / or death and property damage. Personal Accident cover for Owner-driver is also included.
Package policy. This cover loss or damage to the vehicle insured in addition to (1) above.

No- claim discounts are available on renewal of policy, ranging from 20% to 50%, depending upon the type of vehicle and the number of years for which no claim has been made.

Scope

Liability Only policies:

The policy covers the vehicle owner's legal liability to pay compensation for:

Death or bodily injury to a third party person.
Damage to third party property.

Liability is covered for an unlimited amount in respect of death or injury and damage to third party property for Rs.7.5 lacs under Commercial vehicle and private and Rs. 1 lakh for Scooters / Motor Cycles.

Package Policy

In addition to the coverage under liability only, this policy covers loss or damage to the insured vehicle and its accessories due to:

Fire, explosion, self-ignition or lightning.
Burglary, housebreaking or theft.
Riot and Strike.
Malicious Act.
Terrorist Act.
Earthquake (Fire and Shock) Damage.
Flood, Typhoon, Hurricane, Storm, Tempest, Inundation, Cyclone and Hailstorm.
Accidental external means.
Whilst in transit by road, inland waterway, lift, elevator or air.
By landslide/Rockslide

The policy also pays for towing charges from the place of accident to the workshop upto a maximum limit of Rs.300/- for Scooters/Motorcycles and Rs.1500/- for cars and commercial vehicles. It is also permissible to opt for higher towing charges subject to payment of extra premium.

A restricted cover is also available covering the risk of Fire and/or Theft only, in addition to the compulsory cover granted under "Liability Only Policy". However the same is not available in case of vehicle ratable under Class D, Tariff for Miscellaneous and special types of vehicles.

The important exclusions under the policies are:

Wear and tear, breakdowns
Consequential loss
Loss when driving with invalid driving license or under the influence of alcohol.
Loss due to war, civil war, etc.
Claims arising out of contractual liability.
Use of vehicle otherwise than in accordance with `limitations as to use ' (e.g. private car being used as a taxi)

Rating factors Rating depends upon the following factors:

IDV.
Cubic capacity
Geographical zone
Age of the vehicle
GVW of in case of commercial vehicles
Add on Covers

Top^

Add on covers

The policy can be extended to cover the following risks on payment of additional premium:

Loss or damage to accessories fitted in the vehicle such as stereos, fans, air-conditioners etc.
Personal accident cover under private car policies for:
- passengers
- paid driver
Legal liability to employees.
Legal liability to non-fare paying passengers in commercial vehicles.

Who can take the policy

Any vehicle owner whose vehicle is registered in his/her name with the Regional Transport Authority in India.

op^

How to select the sum insured

The sum insured of a vehicle in a Motor Policy is referred to as the I.D.V., which stands for Insured's declared Value.

In case of theft of vehicle or if the vehicle is totally damaged and beyond repairs in an accident, the claim amount payable will be determined on the basis of the IDV. The IDV of the vehicle is to be fixed on the basis of manufacturer's listed selling price of the brand and model of the vehicle proposed for insurance at the commencement of insurance / renewal and adjusted for depreciation as per schedule.

IDV of vehicle which is beyond 5 years of age and of obsolete models of the vehicles (i.e. models which the manufacturers have discontinued to manufacture) is to be determined on the basis of an understanding between insurer and insured.

Top^

How to claim

In the event of an incident giving rise to a claim under the policy, the following steps should be taken:

In case of accidental damage to the vehicle:

Immediate intimation to the nearest office, which will issue a Claim Form.
Claim Form duly filled in to be submitted along with copy of Registration Certificate and driving license of the driver of the vehicle at the time of accident as also estimate of repairs.
Vehicle will be surveyed by a Surveyor, appointed by the insurance company, who shall submit his report to the company. In case of a major damage to the vehicle, a spot survey, at the site of accident, would also be arranged by the company.
Final bills/cash memos are to be submitted duly signed by the insured.
Salvage of the damaged parts may be required to be deposited with the insurance company after approval of the claim.

In case of theft of the vehicle:

Lodge an F.I.R. with the police immediately.
Inform the policy issuing office with a copy of FIR.
Submit the Final Police Report as soon as it is received.
Extend full cooperation to the surveyor and/or investigator appointed by the company.
After approval of the claim by the company, get the Registration Certificate transferred in the name of the company, hand over the keys of the vehicle, submit a letter of Subrogation and Indemnity on stamp paper duly notarized.

In case of liability claim:

Inform insurance company immediately of any incident likely to give rise to liability claim.
On receipt of summons from Court, the same should be sent to the company immediately.
Claim Form duly filled in along-with copies of Registration Certificate, Diving License, FIR are to be submitted.

Auto Insurance companies

United India Insurance Corporation Ltd
TATA AIG - General Insurance
ICICI Lombard - Motor Insurance
The Oriental Insurance Company Limited
HSBC India - AutoSecure
Bajaj Allianz
Maruti Insurance
Reliance General Insurance Co. Ltd.

Comments (0)

Home Insurance, India

02:16 |

Every man has a dream to own a house one day. For an ordinary person it takes a whole lifetime of savings to build a house. And one cannot predict a natural calamity like earthquake. In recent times we have seen what havoc an earthquake or any other natural calamity such as floods, landslides and torrential rains can wreck. Hence home insurance is very important.

Home insurance policy also protects against other hazards like gas cylinder explosion, fire due to electric short circuit as well as man-made disaster like burglary.

Home insurance policy available in the market covers broadly two things:

Building structure
Contents inside the home

Insurance Covers for a Building Structure are:

1. The Fire and Special Perils Cover

This is a comprehensive packaged cover that covers damages to the structure of home due to

Fire
Storm, tempest, flood & inundation
Riot, strike & malicious damage
Lightning
Explosion & implosion
Aircraft damage
Damage due to impact by vehicles
Subsidence, landslides and rockslides
Bursting and/or overflowing of water tanks, apparatus and pipes
Missile testing operation
Leakage from automatic Sprinkler installations
Bush fire

2. Earthquake Cover: Covers damages to the structure of your house due to earthquake

3. Terrorism Cover: Covers damages to the structure of your house due to acts of terrorism

A home insurance does not cover the market value of the home. The price of the home includes the cost of the land and the cost of constructing the building structure on this land and the land cannot be insured. The insurance cover is only for the cost of constructing the building. The sum insured is calculated by multiplying your home area by the construction rate per sq. feet.

Insurance Cover for Contents Inside the Home

This cover is only for damages or loss of the contents inside the home -electronic and electrical goods, furniture and fixtures, clothing, jewelry and any other contents inside the home.

The covers that can be taken for the contents are as follows:

The Fire and Specials Perils Cover
Earthquake Cover
Burglary
Loss / damage to contents due to burglary or an attempted burglary
Loss of jewelry, gold ornaments, silver articles and precious stones kept under lock & key

All the contents are covered on the market value of the items. This means that if there is a loss, the claim would be paid on the value of purchasing a similar new item, minus depreciation.

Below mentioned is a comprehensive list of the top home insurance companies in India. All the companies offer varied insurance policies and quotes with attractive premiums to suit your needs. Choose wisely and ensure complete documentation of all the offers and quotes made. Also refer to the home insurance companies ratings available on many sites online.

ICICI Lombard - Icici Lombard General Insurance

Insure your home and its contents against natural calamities like fire, earthquake, flood, gas cylinder explosion, fire due to electric short circuit as well as man-made disaster like burglary.

Website: www.icicilombard.com

National Insurance Company Ltd.

National Insurance Company Limited was incorporated in 1906 with its Registered office in Kolkata. Consequent to passing of the General Insurance Business Nationalisation Act in 1972, 21 Foreign and 11 Indian Companies were amalgamated with it and National became a subsidiary of General Insurance Corporation of India (GIC) which is fully owned by the Government of India. After the notification of the General Insurance Business (Nationalisation) Amendment Act, on 7th August 2002, National has become a Government of India undertaking.

Website: www.nationalinsuranceindia.com

Oriental Insurance Co. Ltd.

The Oriental Insurance Company Ltd was incorporated at Bombay on 12th September 1947. The Company was a wholly owned subsidiary of the Oriental Government Security Life Assurance Company Ltd and was formed to carry out General Insurance business. The Company was a subsidiary of Life Insurance Corporation of India from 1956 to 1973 ( till the General Insurance Business was nationalized in the country). In 2003 all shares of our company held by the General Insurance Corporation of India has been transferred to Central Government.

Website: www.orientalinsurance.nic.in

Comments (0)

Life Insurance in India

02:15 |

Comments (0)

ING Vysya Life Insurance

02:14 |

Established in India in September 2001, ING Vysya Life Insurance Company Limited is a joint venture between Vysya Bank, which is one of the largest private sector banks in India, and ING Insurance Co., which is the world's second largest life insurance company. This private life insurance company has around 140 branches all over India, with head office in Bangalore. ING Vysya Life Insurance Co. has around 3000 employees with over 21,000 sales insurance agents and brokers. ING Vysya Life presently has around 4.5 lakh customers, and is making a total income of Rs. 400 crore.

ING Vysya Life Insurance gives you an opportunity to fulfill your responsibilities towards your family. The ING Vysya Life protection plans provide financial security to your family in your absence. This company also provides special policies, such as, Children's Plans; Retirement Plans; Investment Plans and Savings Plans, which help you to secure your future financially. It also provides Life Insurance, Medical Insurance, General Insurance, Long-Term Care Insurance, Group Insurance, Company Insurance and Financial Services Insurance Products.

The mutual funds of ING Vysya Insurance are available with all the company branches, insurance agents and brokers. ING Vysya Life Insurance Ltd. Also offers online premium payment facility. For premium cheque payments, drop boxes are also available at all the branches. Given here is a comprehensive list of various insurance policies & saving plans offered by ING Vysya Insurance Company:

Protection Plans

ING Term Life
ING Term Life Plus

Savings Plans

ING Prime Life (Unit Linked Insurance Plan)
Reassuring Life Endowment Plan (Reversionary Bonus)
Creating Life Child Protection Plan
Creating Life Money Back Plan
Safal Jeevan Endowment Plan
Safal Jeevan Money Back Plan
ING LifePlus
ING Positive Life
ING Creating Star

Retirement Plans

Best Years
New Future Perfect
ING Golden Life

Investment Plans

Powering Life
New Freedom Plan
New One Life
Platinum Life Plan
High Life
High Life Plus
New Fulfilling Life Plan

Contact Details
ING Vysya House, 5th Floor
22, M.G. Road
Bangalore - 560001
E mail: contact@ingvysyalife.com
Website: www.ingvysyalife.com

Comments (0)

Insurance World

About Me

Archives

HDFC Standard Insurance

Birla Sun Insurance Co. Ltd

Company Profile

Individual Solutions

Heath Insurance

Auto Insurance

Home Insurance, India

Life Insurance in India

ING Vysya Life Insurance