Life Insurance Roundup, May 2, 2016


Readers’ Corner: Life Insurance | Business Standard News

In case your brother is a financially independent adult, this arrangement might not be possible. However, if your brother is a minor and financially dependent, it can be executed. In this case, since you are the proposer and will be paying premiums, you will be eligible for tax benefits in line with the policy provisions. 


Life insurance firm told to pay Rs 4 lakh – Times of India

The National Consumer Dispute Redressal Commission has upheld the decision of District Consumer Redressal Forum and directed a life insurance company to pay compensation to a Mohali resident. Vishnu Bhagwan Mittal, a resident of Mohali won the case in the forum and Bharti Axa was directed to pay him Rs 4 lakh, and Rs 25,000 as compensation and Rs 5,000 as cost of litigation. 


Reliance Life Insurance leads the pack in recruiting agents

Reliance Life Insurance Company Ltd leads the 23-member private sector life insurers in adding the most number of individual agents last fiscal, according to the numbers released by industry body Life Insurance Council of India. 


Non-life insurers cautioned vs venture capitalists | Business, News, The Philippine Star | philstar.com

The Philippine Insurers and Reinsurers Association (PIRA) cautioned non-life insurance companies from partnering with venture capitalists that are merely out to make a fast buck. 


Term versus permanent insurance

Term insurance is like renting an apartment. You pay your rent, but never own your apartment. With Term insurance, you pay your premiums for a set period of time and are covered for an untimely death during this period. Many young couples and families choose term insurance since it is relatively inexpensive. At a time when they are faced with mortgage payments, kids’ education savings, retirement savings, etc., many families need a large amount of insurance at a low cost. Term insurance is the perfect solution for this need. 


We may unveil HDFC Standard Life IPO in latter part of 2016: Keki Mistry, HDFC CEO – The Economic Times

HDFC Standard Life, which is preparing for India’s first insurance IPO, is in the process of identifying bankers and lawyers for the primary offering. Keki Mistry, CEO of parent HDFC, in an interview with Saloni Shukla, said they expect the IPO to hit the market in the latter part of 2016.

Mistry also said that the life insurance company was looking to acquire another insurance company, but nothing concrete is on the table as yet. 


How to potentially increase the wealth you leave your heirs

People born in the 1930s and 1940s enjoyed the many benefits of a robust economy when they entered the workforce, says Mark C. Pagni, ChFC, CLU, a Financial Consultant at AXA Advisors, LLC


God Vs. Your Bank Account: Can You Afford To Tithe? – Forbes

The desire to tithe is the same as the desire to go to church every Sunday, pray when someone needs it and give thanks to God when you’re grateful. For many Christians, tithing is less of an obligation than an opportunity to give back. 


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