As we know, there are 20 odd private life insurance companies in India, and there is LIC which is a public sector company. LIC is the 800 pound gorilla, managing to hold on to about 75% market share even 10 years after private companies have been allowed into the life insurance space. The private life insurance companies position themselves on being more customer friendly, wider array of products etc while LIC holds on to its positioning of trust, experience and government backing. One of the key parameters on which to judge a life insurance company is their claims payment record. At the same time, we must note that given that life insurance has become more of a savings and investment product, the returns that they provide are perhaps more important than claims payout ratios. Nevertheless, claims record is definitely not a variable to be ignored.
A table illustrating the claims rejection percentages of the top life insurance companies in 2009-10 is presented below:
Life Insurance Company
Claims rejection ratio (%)
Bajaj Allianz 5.2%
Birla SunLife 10.62%
HDFC Life 4.67%
ICICI Prudential 3.27%
ING Vysya 4.26%
Kotak Mahindra 4.29%
Max New York Life 12.31%
Reliance Life 7.05%
SBI Life 14.75%
Tata AIG 12.3%
An important observation from the above table is that the claims rejection ratio of LIC is the lowest, thus implying that their record is the best as far as claims payment is concerned. At the same time, the very high percentage of claims rejection of SBI Life and Max New York Life surely comes in as a surprise.
It must however be noted once again that in Unit Linked products that life insurance companies promote aggressively (or at least
No comments, topwriter, November 29, 2015
Advertising creates a great impact in today world. Innumerable customers are attracted to the information about brands or services that is provided by the various advertisements. Among st the various tools of advertising, outdoor advertising is one of the effective techniques used by advertisers to keep businesses afloat and also to increase product awareness and sales. Wide ranges of outdoor advertiser have so far created a huge impact with their advertisements.
Various forms or methods of outdoor advertising are available such as banner ads, billboard ads, kiosk ads, lamp post ads etc. Banner ads are fixed on the roads, in public places like restaurants and shopping outlets and at various traffic points. Banner ads are helpful for advertisers to target those customers who have little time left to see television and read newspapers. Such category of potential customers can be informed about the different products that are flooding in the market through the usage of banner ads. Banner ads placed at traffic signals and on the roads attract a wide range of potential customers.
Banner ads are either graphic based or content based. Banner advertising provides a good source for promoting your brand. If your banner ad happens to be an attractive one, it can possibly become the talk of the town simultaneously promoting your brand among st the target group. The public will become more familiar with your product or brand. People will start talking about your product and the talks will spread further to even those customers who have not watched your ad.
Billboard Advertising is another form of OOH advertising. Due to their effectiveness, billboards ads are an extremely popular form of OOH advertising. When it comes to attracting the target audience, billboard ads are the best way to do so with their attractive
No comments, topwriter, November 29, 2015
Adverts in local news papers would only be seen by people who wanted to buy the news paper, meaning the majority of potential customers would not see your advert no matter how much you were willing to pay.
Telephone Books would only show adverts to people who specifically wanted to make a phone call to a business, meaning there was no point advertising a promotional deal at the corner shop, since no one is likely to call a corner shop before shopping there.
Flyers through letter boxes would reach people without them needing to show an interest in the business or make another purchase to begin with. But endless leaflets being dropped through a letter box can become irksome and even build a negative relationship between businesses and their target customers.
Large businesses with more funding could afford to advertise in national news papers, although these reached a lot more people, they have a similar problem to national newspapers in that their adverts will only be shown to people who have decided to pay for the paper. In fact they also have the disadvantage of being less well targeted. For example, with local newspapers a retail chain could advertise in local papers only in towns with their stores, but if they decided to advertise in the national press, they are also paying to show their advert to people who would not live close enough to one of their stores to make use of what is being promoted, therefore a portion of their advertising fee is effectively wasted.
Finally businesses with large enough marketing budgets could get their goods shown to the largest possible audience by advertising on TV. Until the 1990s, there were very few TV channels and some programs regularly had 20% of the entire population watching them. These types of adverts could
No comments, topwriter, November 29, 2015
Getting surrogate insurance coverage, that is, medical insurance to cover the surrogate pregnancy, can be tricky. There are a few different options for obtaining practical surrogacy insurance, depending on the situation of the surrogate mother and intended parents.
First, if at all possible, plan to use the surrogate mother’s existing health insurance policy, probably thorough her employer or her husband’s. Most health insurance policies will cover a surrogate mother, as their own insured, while she is pregnant. It is frankly none of the insurance company’s business how she got pregnant!
But some insurance companies are going out of their way to prevent surrogate motherhood. Take a copy of the surrogate’s insurance benefits booklet to your surrogacy attorney to verify if you can use this policy.
If that doesn’t work, there are a few more ways to obtain surrogate insurance coverage. The easiest, and least expensive at this point is to purchase a regular individual plan from a local insurance agency. Watch, again, for exclusions with surrogate motherhood. Also, sometimes these plans come with a 6-12 month waiting period before they will pay for pregnancy.
It probably should be mentioned that the insurance policy an intended parent carries, most likely through their employment, will not cover the pregnancy of the surrogate mother, regardless of the fact that it is their biological child. The surrogate mother is not the insured party.
There are some surrogacy insurance policies specifically designed for surrogate mothers. These policies really only insure a worst case scenario event, cost thousands to purchase, and come with deductibles in the $5,000-10,000 range. Some intended parents choose to add this sort of policy onto an existing surrogate insurance coverage.
But what happens when a surrogate mother and her intended parents believe that they are covered, get pregnant, and
No comments, topwriter, November 28, 2015
Businesses face different risks of uncertainties. Many businesses close their operations unable to cope with the loss of income, because of these risks. Businesses face risks of natural calamities such as storms, floods or earthquake and so on. They also face man-made risks like vandalism, etc. Therefore, to protect their businesses from risks, business owners should consider purchasing ‘Business Interruption Insurance.’
What is business interruption?
There are many risks that are associated with business interruption such as property damage, equipment break down, fire, flood, theft and any unforeseen risk that your business is not prepared for. During such calamities, your business is forced to shut down temporarily. This leads to huge financial loss and loss of profit.
Few incidents have the potential to ruin your business
Apart from the above mentioned, few incidents such as loss of business share, disorganized work environment, lack of funds to pay the staff, etc., also have the potential to ruin your business, for which you are not prepared and may also lead to unexpected financial loss that your business suffers.
To rebuild your business after a disaster is very difficult, because you may need some financial aid. Therefore, to be on a safer side and protect your business from any of the unexpected events, it is advisable to purchase business interruption insurance, as it covers the loss of income that your business suffers.
Importance of business interruption insurance
Business interruption insurance is important for every business, as it protects businesses from the risk of uncertainties. It covers the losses to your business because of the interruption in operations. If your business is covered with business interruption insurance, you can relax as the insurance company will take care of the damages, that your business has suffered.
Business interruption insurance covers the loss
No comments, topwriter, November 27, 2015