insurancesd11-blog

[insurancesd11-blog]

How is your Insurance Health?

Are You adequately insured?

If you have a qualified agent then he should do your Insurance Health check up on regular basis and advise you as per the state of a life cycle. Your agent should also do your regular review to know the changes in life-like stages of your children, your retirement, your health and your financial responsibilities. A regular audit would keep your financial planning up to date. Do we really take that much interest in our family insurance needs? Rarely, you will find customers who are willing to permit professional time to your agents in the same way as they do with their Doctors or Chartered Accountants. If they take care of your health and financial issues and protect you from any adverse situation then your Insurance Agent protect your family interest in case you are not there. In most of the cases, a family would always be bigger in size than self. In spite of this truth, do we give this respect to our advisor? Financial media remain flooded with the logic of buying only term insurance and dissuade readers from looking into other insurance products. this seems to be a lopsided view because it is ignoring the logic of ULIP, Endowment, Money Back and Annuity Products. Human Body needs all type of vitamins, proteins, supplements for a healthy body and a Good Doctor advises balanced diet. In the same way, Insurance Samadhan advocates a balanced insurance portfolio with all products. Doctors recommend three meals for a healthy body and say “Breakfast as a king, lunch as servant and dinner as paper. Why do they say so because breakfast is essential to keep you energetic for a full day, lunch is desired for your daily energy replacement because of consumption due to hard work and dinner is required for sound sleep.

In the same line, Insurance Samadhan recommends three insurance products for health insurance portfolio:

First, buy a whole life insurance which would remain with you for the full life and keep family protected till you live. So whole life is comparable to the breakfast of balanced diet.

The endowment is comparable to the lunch, which you need to buy for your midlife financial responsibilities. It is related to consumption hence can be taken for a shorter term and in different variety like money back, limited payment endowment. These products must be linked to each responsibility. You take lunch for taste, presentation, and hunger. So decide for the endowment as per your need.

Term insurance is comparable to Dinner. You take dinner to ensure undisturbed sleep, in the same way, you buy Term Insurance at the rate of paper so that your family gets undisturbed sleep.

If one maintains an Insurance Health portfolio then they are proving that they love their family and they are a responsible person. LIMRA has also established facts through their research that a responsible person buys 7  products from an insurance company.So go ahead, have a balanced diet and insurance. Both are important for your as well as family future. For more Information : http://insurancesamadhan.com

[insurancesd11-blog]

Misselling Insurance Policy Is An Offence, Accepts RBI

For long, the banking regulator, Reserve Bank of India (RBI), did not agree that complaints related to the misselling insurance policy of third-party products by banks were a problem that it needed to address. This was a problem for other regulators. What this meant was that bank customers had nowhere to go to complain since the sector-specific regulators did not have effective jurisdiction over banks’ staff. However, on 23 June 2017, the central bank took the onus of bank misselling on itself. According to the amended banking ombudsman scheme, which will come into effect on 1 July this year, complaints relating to the misselling insurance policy, as well as mobile and electronic banking will be included in RBI’s banking ombudsman scheme. Here is a look at what has changed for you.

Insurance and mutual funds: So far, the banking ombudsman only accepted complaints about banking products and services. Third-party products sold by banks, such as insurance and mutual fund products, were kept out of its ambit. However, with the amendment, from 1 July 2017, the banking ombudsman scheme will include the sale of insurance, mutual funds, and other third-party investment products by banks.

Under the amended scheme, any person can file a complaint with the banking ombudsman against a bank for non-adherence to the central bank’s guidelines on para-banking activities such as sale of insurance, mutual fund, and other third-party investment products by banks in case of improper, unsuitable sale of such products; non-transparency or lack of adequate transparency in sale; non-disclosure of grievance redressal mechanism available; delay or refusal to facilitate after-sales service by banks and any other matter relating to the violation of the directives issued by the central bank in relation to banking or other services. See more at: http://insurancesamadhan.com/mis-selling-is-an-offence-accepts-rbi/

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Get help in claiming your Life, Health & General Insurance from Insurance Claim Experts. To get expert guidance, call Insurance Samadhan now.

See more at-  http://insurancesamadhan.com/

[insurancesd11-blog]

Have an insurance complaint. Don’t worry , Insurance Samadhan is here.

Visit your banker and soon they would lure you to buy a scheme which works like fixed deposit but offers better tax-free returns . You sign on dotted lines without realizing that you are buying an insurance where you have to pay the same premium every year for next 10 year.

You receive a phone call from some number who claims to be official from some government body. They have all information about you and your previous insurance data . They promise you extra bonus if you another policy from them as per the process of government . You are given such convincing documents that you get conned and agree to put your hard earned money .

These fraudsters are present every where in office space , in cyber space and in referral space. They make you believe and greed takes over. IRDA had been doing public campaigns for last three years but frauds are occurring at the same speed.

In such market place, the surprising element is the apathy shown by insurance companies. They are well aware about the fraud practice , corporate agents involved. Inspite of such knowledge of recurring complaints , these companies are actively involved for past many years . It is shocking such companies keep doing the business by changing their name and office .

As per IRDA guidelines, Insurance companies do take precautions by doing initial screening and calling , but today such preventive measures are being used as evidences against the customer rather the practitioners . One customer complain then Insurance companies give evidence that calling was done and agreement was done . Mostly customers take very casual approach during calling and they agree without listening the questions . The conversation is so mundane and investigative that customer leave interest . Then there is a provision of freelook from the date of receipt of policy document . Customers consider Insurance as simple product and avoid reading the contract which they should not do . Should they be penalized for not reading the contract and approaching the Insurance Company ?

Insurance business is fiduciary in nature and need to protect interest of policy holders . They need to build a healthy portfolio which ensures persistency and popularity of insurance concept . This can be done only through proactive steps by Insurance Companies in resolving Customer grievances. They need to run Financial Literacy campaigns through mass media. IRDA must begin Financial Literacy programmes in Schools, colleges. IRDA must also blacklist distributors who source business through call centers using fraud promises. IRDA need to issue guidelines to banks for taking extra care in checking on awareness that policy has not been sold as Single Premium in lieu of fixed deposit . Surprisingly the victim of fixed deposits are old persons loosing their savings to insurance policies and later realizing that their money is lost because of not utilization of freelook period . Insurance Samadhan is a forum to take up such cases and represent the plight to Insurance Companies , IRDA , consumer forums and Ombudsman with a hope that resolution will be provided .

See more at-  http://insurancesamadhan.com/

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Filing the Insurance Proposal Form

Losing a loved one to the eternal power is the most dreaded dream and a wretched reality we often try to escape from. Grieving over your loss is like the ocean, it sometimes comes in calming waves and sometimes like a hurricane. All we at Insurance Samadhan, can do is make sure you sail through. Losing the bread earner of the family often tends to bring down the living standard and economic status of the family.

An Insurance policy thus endures to be the most crucial tool when it comes to covering your family from the exposure of such threat. Thereby, securing your loved ones with life insurance is of vital importance.

There are certain important aspects that we tend to ignore while procuring this crucial lifelong document called Life Insurance Policy, is the ‘Proposal Form Filling’.

Speaking with experience of our case histories, it can be often seen that people sign the proposal form and hand over the premium cheque. However, the question we propose here with caution is that-

IS THIS THE RIGHT WAY???

Did you know that the insurance proposal form is the very foundation of your life insurance cover? This is the first document that is referred to, before any kind of claim settlement. Most claims are rejected due to fabricated information discovered in the form.

Let’s comprehend what information is of utmost importance in this form. If you ask me, hands down, all the sections are vital. The form apprehends everything from your personal information to your personal health information, your family history and your financial information. In the end, by signing a declaration you make it a legal manuscript for all future reference.

Your insurance agent doesn’t have the knowledge of your financials as well as health conditions and consequently, all the inquiries on these matters are countered with the best possible solutions.

The Insurance law entails that you should ideally fill the Proposal form i.e and the declaration, should be signed only after reading the complete form. It is recommended to not leave this important document frivolously since it is the foundation of Insurance Contract to your insurance agent advisor.See more at-  http://insurancesamadhan.com/

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Insurance Policy—Investment or Safety

Often apprehensions nurtured on the returns proposed by Insurance policies opens me to the rational world of thought, I often ponder on how to make a common man understand the crucial importance of a life document called Insurance policy.

Securing one’s family is the key aspect of investing in an insurance policy. However it is critically important to understand what can an Insurance Policy do for your family?We understand that to invest in an insurance policy, one needs to pay a fortune of hard earned money. A part of that premium also known as risk premium goes into the pool of insurance companies from where the company pays claim to the unfortunate families whose bread earner dies early. The balance part of the premium goes into investment and expenses.

If you are an active investor, you can protect your family with term insurance, which helps you buy protection at very low premiums. However if you are not active investor and need to secure some money for future usages like education and marriage, the policies popularly known as Endowment policies is highly recommended. These policies definitely help you build a corpus by systematic investments while protecting your family against risks of early death.

We understand the uncertainty of life and the danger of accidents and diseases that can be served to the safest ones causing the family to be left unattended in our absence. Insurance Companies pays a chief role in protecting your family against this financial loss.

Having even the slightest thought of not having your loved one around is by far troubling and ominous however death is inescapable even in the safest grounds.

It is human to understand that death is inevitable however it is not something your family would need to suffer from for years to come. By investing into a small risk premium serves out the advantage of protecting your family from the economical damage this unfortunate and inevitable incident of death.

Get help in claiming your Life, Health & General Insurance from Insurance Claim Experts. To get expert guidance, call Insurance Samadhan now.

See more at:-  http://insurancesamadhan.com/

[insurancesd11-blog]

Fixed Deposit vs Insurance Policy

Insurance Samadhan provides a platform to represent clients who feel cheated to file Life Insurance Complaints. Get your insurance claim settled now !

That occasion of month when despite of all expenses from your wife’s shopping to children’s school fees, you were able to save some spare money. Often with this spare money you will knock the doors of banks to securely deposit it in the form of Fixed deposit with an expectation and prospect of better returns, profit and liquidity. However, customarily our associated managers sway us to buy Insurance Policies, which offers even better return and tax benefits.To all of you I say, TAKE CAUTION!Before you are persuaded in the eyes of benefits, lets not blindfold ourselves.

Stay curious and interrogate more. Check the brochure of the product and do certain interrogations that I personally advocate.

Does your insurance policy offer you the required liquidity at the time of need?

Where is your money being invested?

Is it a single premium policy or a regular payment one?

On comparing, Fixed Deposit with Insurance policy, both the products offer suitable and secured returns. However, be aware that Liquidity in Insurance policies do not there; you are only eligible to take loan against your insurance policy depending on the cash value it holds after remunerating the premium for three years. The returns on your insurance policy are tax-free and the investment helps you save tax. This is the Insurance Policy benefit. Also Insurance policy offers you death cover but remember Fixed Deposit is a one-time investment whereas mostly insurance policies are regular paying ones.

As a customer you need to be consciously aware of why you are choosing a FD or an insurance policy? When do you require your money? Do you have capacity to pay your premiums regularly as per the product design? In case you have decided for Insurance policy go ahead and check the documents required for insurance policy purchase.

However, in case you have not read and bought an insurance policy in place of fixed deposit and do not understand what you should do.

Do not stress about it, we are here to help!Its never too late, we are only a call away, You can approach us, we at Insurance Samadhan will help you file your documents justly and help you claim your money. Until then, Stay aware!

See more at:-  http://insurancesamadhan.com/

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Documents for Insurance claim

Insurance claims are broadly of two kinds- Maturity claim and Death claim.Maturity claims are relatively simple to catch, as the Insurance Company does not have any uncertainty of fraud. All they do is check if all the premiums are paid in time and so as to get your maturity claim equipped.Following are all the documents you need to carry:

1.   Discharge form

2.  Original Policy Documents

3.   ID proof

4.   Assignment (If any)

5.  Canceled Cheque

6.  NEFT mandate

Death Claim is comparatively complex and entails that all documents need to be submitted correctly in one go. The insurance company is obligatory to inspect every death claim and customarily will pay the claim in a month’s time. However in case of early death i.e. Death within 2 years of the acquisition of the policy, the investigation may take 6 months.

The documents prerequisite for Death Claim are as follows:

1.   Death Certificate

2.   Original Policy documents

3.   Id proof of the beneficiary

4.   Discharge form

5.   Medical Certificate

6.   Police FIR( In case of unnatural death)

7.   Hospital Records

8.   Cremation Certificate Please ensure that you notify your insurance company immediately following the demise of the insured person. Please do not delay as this raises apprehensions for the investigator in the insurance company. See more at:-  http://insurancesamadhan.com/

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Life Insurance Complaints | Insurance Claims | Insurance Samadhan

http://insurancesamadhan.com/

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How is your Insurance Health?

Insurance Samadhan is a Insurance Grievance Redressal Platform to help you make Insurance Claim whether its a Life,Health or General Insurance. Call us !

Are You adequately insured? If you have a qualified agent then he should do your Insurance Health check up on regular basis and advise you as per the state of a life cycle. Your agent should also do your regular review to know the changes in life-like stages of your children, your retirement, your health and your financial responsibilities. A regular audit would keep your financial planning up to date.Do we really take that much interest with our family insurance needs? Rarely, you will find customers who are willing to permit professional time to your agents in the same way as they do with their Doctors or Chartered Accountants. If they take care of your health and financial issues and protect you from any adverse situation then your Insurance Agent protect your family interest in case you are not there. In most of cases, family would always be bigger in sixe than self. Inspite of this truth, do we give this respect to our advisor. Financial media remain flooded with the logic of buying only term insurance and dissuade readers from looking into other insurance products. this seems to be a lopsided view because it is ignoring the logic of ULIP, Endowment, Money Back and Annuity Products. Human Body needs all type of vitamins, proteins, supplements for a healthy body and a Good Doctor advises balanced diet. In the same way, Insurance Samadhan advocates a balanced insurance portfolio with all products. Doctors recommend three meals for a healthy body and say “ Breakfast as a king, lunch as servant and dinner as paper. Why do they say so because breakfast is most essential to keep you energetic for a full day, lunch is desired for your daily energy replacement because of consumption due to hard work and dinner is required for sound sleep. In the same line, Insurance Samadhan recommends three insurance products for health insurance portfolio :

1.     First, buy a whole life insurance which would remain with you for the full life and keep family protected till you live. So whole life is comparable to the breakfast of balanced diet.

2.     The endowment is comparable to the lunch, which you need to buy for your midlife financial responsibilities. It is related to consumption hence can be taken for a shorter term and in different variety like money back, limited payment endowment. These products must be linked to each responsibility. You take lunch for taste, presentation and hunger. So decide for the endowment as per your need.

3.     Term insurance is comparable to Dinner. You take dinner to ensure undisturbed sleep, in the same way, you buy Term Insurance at the rate of pauper so that your family get undisturbed sleep.

If one maintains a healthy insurance portfolio then they are proving that they love their family and they are a responsible person.LIMRA has also established facts through their research that a responsible person buys 7  products from an insurance company.So go ahead, have a balanced diet and insurance. Both are important for your as well as family future.

See more at:-  http://insurancesamadhan.com/