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Being a bank relationship manager is not simple to accomplish, especially when you have to fulfil a sales target that is generally multiples of your take-home pay. These bankers are always trying to persuade their customers to invest in a variety of financial products, such as term deposits and mutual funds. Along with these, they like …
As you may be aware, effective April 1st, 2024, all insurers must offer insurance policies exclusively in electronic form. E-insurance refers to a demat account for storing insurance policies. An e-Insurance Account (eIA) allows you to handle all of your insurance policies, whether they are life, health, or general insurance. You no longer need to retain …
First and foremost, let us try to comprehend what the MWP Act is. The Married Women’s Property (MWP) Act provides financial protection for the spouse in the case of the insured’s untimely death. It assures that the insurance policy benefits are preserved for the wife, independent of any unpaid debts owed by the husband. Irrespective of …
As chronic illnesses like diabetes, heart disease, and arthritis remain prevalent, it is difficult to navigate health insurance in India. These health disorders need on-going medical care, which heavily impacts health insurance decisions. The waiting time is an important consideration when purchasing chronic disease health insurance. This is the time between when you purchase the coverage …
As a disclaimer, I do not want any untoward incident to happen in any person’s life, but we also need to be a bit practical and be prepared for any eventualities in our life (and do not consider me as a negative person for writing this blog-post). The Covid pandemic inflicted a devastating blow to …
Despite increased knowledge of health insurance, many aspects of health plans remain poorly understood by policyholders. Let us try to understand the basic difference between the add-ons ‘top-up’, ‘super top-up’ and ‘Unlimited restoration’ in a health insurance policy. Firstly, a ‘top-up plan’ is an add-on coverage that supplements a health insurance policy. It provides additional …
The Finance Ministry recently penalized Public-sector Banks (PSBs) for improperly marketing products related to insurance. The Central Vigilance Commission has also warned against compelled insurance sales, claiming that the temptation of commissions from their sale might alter the overall quality of loans issued. While government bodies and its agencies are taking efforts to avoid mis-selling, customers …
Whenever you purchase insurance, you may be required to provide the insurer with a variety of information and documents. Hence, it’s vital to make sure you’re exchanging your information with a reliable and genuine system or individual. Prudence in protecting your information is essential not just while purchasing insurance but also when purchasing other kinds …
Vehicle sales are up year on year, particularly following a period of low demand during Covid. Potential purchasers should seek for the correct insurance coverage to protect their ‘vehicle’ as they decide on the suitable model of cars and two-wheelers. In the thrill of a purchase, it’s tempting to leave the choice about vehicle insurance …
The basic goal of an insurance policy is to give financial stability. When you purchase an insurance policy, you are effectively transferring your risk to the insurance provider. The insurance provider then pays you for the loss if you are impacted by the covered risk. There are several insurance plan types developed to meet each …