The ULIP saga...

A ULIP is a market-linked insurance plan .It came into play in 1960s and is a financial product serving the purpose of providing life insurance combined with savings at market linked returns .Part of the premium paid goes towards the sum assured, ie the amount you get in a life insurance policy and the rest of the premium is used to invest in a fund that invests money in stocks or bonds. In India the ULPIs are governed by the Insurance Regulatory and Development Authority (IRDA).

ULIPs are distinct from the more familiar ‘with profits’ policies sold by LIC’s. ‘With Profits’ policies are called so because investment gains are distributed to policy holders in form of a bonus announced every year.

The advantages of ULIPs is that – the investor knows exactly what is happening to his money and it allows the investor to choose the assets into which he wants his funds invested ;whereas  ‘with profits’ has no transparency and policy holder has a little knowledge of what is happening

ULIPs are similar to mutual funds in structure but their objectives are different. ULIPs have an edge if the investor has a horizon of 10 years or more, because it has high first year charges towards acquisition (including agent’s commission). Today, more than 70% of the new business premium for life insurers comes from ULIPs.

However, one should insure with a brand name that can be trusted to honour its commitment and service according to the requirements. Thus, ULIPs can be termed as a two-in-one plan in temrs of giving an individual the twin benefits of life insurance plus savings.

Bharti Axa Life Insurance...

With health risks growing every day, the life of human being is just getting tougher and tougher. With new diseases and health risks always on the prowl, what does one to secure his and his family’s future is the question they face all the time. But thanks to life insurance offered by different companies, they can breathe easy. One such company is Bharti Axa Life.

Having just started in the year of 2006, Bharti Axa Life has made a name for itself as a life insurance player among the heavy weights of LIC, Bajaj Allianz and ICICI to name a few. Started as a joint venture by Bharti enterprise and AXA group, they have a strong and well trained distributor base to provide financial advice as well as insurance solutions to all its customers.

Trust is what customers these days are looking for in companies, a place where they feel their money is safe and where all that has been promised to them is given. Keeping this very notion in mind, Bharti Axa Life makes sure that all its clients get what they are promised. Winning the confidence of its customers isn’t very easy, but Bharti Axa Life has done so with its attentive, reliable and available attitude.

Max New York Life Insurance – How Effective...

The MNYL or the Max New York Life Insurance Company is one company in India in the insurance sector that promises a lot. Indian company Max and the US Company New York Life, together have formed this group in India years ago and is doing good business. New York Life boasts of being the oldest company in the life insurance sector. To add a feather to their cap, they advertise to have covered at least two American presidents.

The company has a very strong financial base, arguably even more than the rest of the companies. Since the collaboration of Max and New York Life, the yearly turnover has grown in terms of some multiple thousand crores and it keep on increasing consistently.

The vision of the company is to be the most admired company in the life insurance sector. Catering to the needs of all – from the children policies to the traditional policies and ULIP based policies, you name it and MNYL has got it all.

Of the some 14 companies doing business in India in the life insurance sector, MNYL stands out due to its performance. There is no exaggeration and it is their business tactics that’s doing business for them.

Tata AIG Life Insurance Company...

Tata. The name says it all in the Indian business sector. The Tatas have been one of the most trusted names in the field of automobiles, mobiles (telecommunication), edible salt et al. The list is endless for the Tata business group. The Taj Mahal hotel is one of the crusts of their business.

They have long ago leaped into the insurance sector. American International Group Inc. or better known as AIG is a multinational company. AIG is Tata’s partner in India in the insurance sector. It is one of the companies, which offers international insurance and financial services. It has operations in approximately 125 countries.

These two giants have come together and are now doing business in India in general and life insurance sectors. Tata AIG Life is a joint venture of Tata Group and American International Group, Inc. (AIG). Tata AIG offer financial security through their life insurance services and policies. The life insurance products include all types of customers ranging from individuals to even large scale businesses. A range of additional coverage is the icing on the cake for the business.

Apart from that, they also cater to offering financial solutions to corporations too. Here they help the customers and the employees realize their financial dreams.

Never overlook the value of Life Insurance...

It is not only the head of the family; insurance is the need of everyone now. In these days of high risk associated with terrorism, natural disasters etc. insurance is the first thing that a sensible man would go for. Most insurance companies have quite a strong financial background. The foundation of these companies is their finance.

Therefore, buying an insurance policy from such companies is the safest thing in the world of life insurance. The major question these days is, is it necessary to buy an insurance policy? The very answer of this question is a big ‘yes’.

Among other reasons, the reason that is most common in life insurance sector is the fear of death. ‘Death’ is the nearest word associated with ‘life’ insurance. And why not? That is true too. One has to die, this day or the other. However, if you were to die suddenly, what would the people do and where will they go, who are dependent on you?

Now, that is why it is important to have at least one good life insurance policy. Whichever policy you buy, from whichever company, local or foreign, having a life insurance policy has no option.

The Importance of Life Insurance...

The importance of life insurance has started to take shape in India. There are now currently at least more than 12 life insurance companies like Max New York Life Insurance, ING Vysya etc. to name a few. The companies trading here with collaboration with Indian companies are doing brisk business in providing people with life coverage.

Any head of the family will consider having life insurance as a safety. And why is it not? What will happen to the family members if the head of the family, god forbid, is no more? Having a life insurance, at least makes way for the upbringing of the other family members if the head of the family has had a life insurance cover on him.

There is no denying the fact that, the life of any living being is invaluable. As far as life insurance is concerned, no company can insure any single life, however big it may be. However, this is the spiritual side of the value of a life terming it as invaluable. Nevertheless, in the practical sense, you have to pay the money in a certain currency and that is where the cash comes into play. No one might be able to tell the exact value of one’s life, but there can be some assigned to it through insurance.