VERY IMPORTANT & URGENT
DATE: 14-09-16: FROM MR VILAS NAMDEORAO VHATKAR, GOREGAON, MUMBAI:
Hi,
I hope you are doing well & in good health.
You are kindly aware that I am doing following free of charge social works for all communities which are turning points in the human life.
1) Career guidance.
2) Furnishing of details of various jobs available regularly.
3) Matrimonial search.
I would like to add one more essential item viz. life insurance cover. Due to uncertainty of life each earning male & female human being should take life insurance policy right from first salary/profit from own business for welfare of family members.
The Insurance Act, 1938 has been enacted in India and required/necessary amendments have been made in it from time to time. In accordance with the privatisation and globalisation policy of Govt. of India; 51% equity share of Indian insurance company and 49% equity share of foreign insurance company are permitted. For stringent regulation and strict supervision on life insurance companies and to safeguard the interest of policy holders statutory authority body viz. Insurance Regulatory & Development Authority of India(IRDAI) has been constituted. As on today total 24 life insurance companies are in operation in India; out of these 23 are private & LIC is from public sector. Population of USA is less than India's population; however 2400 life insurance companies are in operation in USA. Also as of today only 50 % of population of India is having life insurance cover as against 100 % population of USA. Thus there is need to cover more population under life insurance in India for welfare of families in the event of untimely death of their bread winners. Every bread winner of the family must think seriously and go for life cover if not done so far.
Frequently asked questions and answers are as under:
Q. No. 1 - What is the benefit of life insurance cover?
Answer - In the event of untimely death of bread winner of the family; his nominee or legal heirs get full assured amount. Also in normal course bread winner gets maturity amount with bonus. In both the cases amount is tax free.
Q. No. 2 - How insurance companies function & where from they get money?
Answer - After taking in to account, mortality rate & other aspects insurance companies decide/fix insurance premiums and by collecting it from many they pass iton to few unfortunates.
Q. No. 3 - How grievance redressal is done?
Answer - At different levels different authorities redress the grevances. One can seek redressal through Consumer Protection Act, 1986 also.
Q. No. 4 - How life insurance cover amount is decided?
Answer - From total anticipated income for one year of person desirous of going for life insurance cover his own expenses are subtracted & 8% interest p.a. is added to it. Amount so worked out is the maximum insurable amount which is called as Human Life Value(HLV).
Q. No. 5 - From which company life insurance should be taken?
Answer - From any registered life insurance company. Because all such companies are regulated & controlled by IRDAI. Due to competition there is improvement in customer services.
Q. No. 6 - If insurance company is closed what happens to the policies taken?
Answer - As per law it cannot be closed. After protecting the interest of insured it is merged in another life insurance company.
Q. No. 7 - From whom one should take life insurance cover?
Answer - From valid licence holder insurance agent who has been trained by the insurance company & who has passed online examination conducted by concerned Govt. body. One insurance agent can work for only one life insurance company & sell its products & not for all insurance companies.
Q. No. 8 - Which documents are required for taking life insurance policy?
Answer - Aadhaar Card, PAN Card & photo.
Q. No. 9 - Can a person take life insurance policy for anybody?
Answer - No. One can take life insurance policy for his relatives only.
Q. No. 10 - Is there any age limit for taking life insurance policy?
Answer - No. It can be taken at any age.
Regards,
Vilas Namdeorao Vhatkar
Goregaon, Mumbai
Mobile No. 9869388303
DATE: 14-09-16: FROM MR VILAS NAMDEORAO VHATKAR, GOREGAON, MUMBAI:
Hi,
I hope you are doing well & in good health.
You are kindly aware that I am doing following free of charge social works for all communities which are turning points in the human life.
1) Career guidance.
2) Furnishing of details of various jobs available regularly.
3) Matrimonial search.
I would like to add one more essential item viz. life insurance cover. Due to uncertainty of life each earning male & female human being should take life insurance policy right from first salary/profit from own business for welfare of family members.
The Insurance Act, 1938 has been enacted in India and required/necessary amendments have been made in it from time to time. In accordance with the privatisation and globalisation policy of Govt. of India; 51% equity share of Indian insurance company and 49% equity share of foreign insurance company are permitted. For stringent regulation and strict supervision on life insurance companies and to safeguard the interest of policy holders statutory authority body viz. Insurance Regulatory & Development Authority of India(IRDAI) has been constituted. As on today total 24 life insurance companies are in operation in India; out of these 23 are private & LIC is from public sector. Population of USA is less than India's population; however 2400 life insurance companies are in operation in USA. Also as of today only 50 % of population of India is having life insurance cover as against 100 % population of USA. Thus there is need to cover more population under life insurance in India for welfare of families in the event of untimely death of their bread winners. Every bread winner of the family must think seriously and go for life cover if not done so far.
Frequently asked questions and answers are as under:
Q. No. 1 - What is the benefit of life insurance cover?
Answer - In the event of untimely death of bread winner of the family; his nominee or legal heirs get full assured amount. Also in normal course bread winner gets maturity amount with bonus. In both the cases amount is tax free.
Q. No. 2 - How insurance companies function & where from they get money?
Answer - After taking in to account, mortality rate & other aspects insurance companies decide/fix insurance premiums and by collecting it from many they pass iton to few unfortunates.
Q. No. 3 - How grievance redressal is done?
Answer - At different levels different authorities redress the grevances. One can seek redressal through Consumer Protection Act, 1986 also.
Q. No. 4 - How life insurance cover amount is decided?
Answer - From total anticipated income for one year of person desirous of going for life insurance cover his own expenses are subtracted & 8% interest p.a. is added to it. Amount so worked out is the maximum insurable amount which is called as Human Life Value(HLV).
Q. No. 5 - From which company life insurance should be taken?
Answer - From any registered life insurance company. Because all such companies are regulated & controlled by IRDAI. Due to competition there is improvement in customer services.
Q. No. 6 - If insurance company is closed what happens to the policies taken?
Answer - As per law it cannot be closed. After protecting the interest of insured it is merged in another life insurance company.
Q. No. 7 - From whom one should take life insurance cover?
Answer - From valid licence holder insurance agent who has been trained by the insurance company & who has passed online examination conducted by concerned Govt. body. One insurance agent can work for only one life insurance company & sell its products & not for all insurance companies.
Q. No. 8 - Which documents are required for taking life insurance policy?
Answer - Aadhaar Card, PAN Card & photo.
Q. No. 9 - Can a person take life insurance policy for anybody?
Answer - No. One can take life insurance policy for his relatives only.
Q. No. 10 - Is there any age limit for taking life insurance policy?
Answer - No. It can be taken at any age.
Regards,
Vilas Namdeorao Vhatkar
Goregaon, Mumbai
Mobile No. 9869388303
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