First of all to be act for process of identifying a person to receive the policy amount in the event of death of the policyholder. The nomination can be done at the start of the policy by providing details of the nominee in the proposal form. However, if the nomination is not given at the beginning, it can be done at a later date. This nomination has to be effected by giving notice in a prescribed form to LIC and getting it endorsed on the Policy Bond. The policyholder can change the nomination at any time during the term of the policy and for end number of times. For this, the policyholder has to give a notice in a prescribed form to LIC. Further, nomination can be removed any time by the policyholder without giving prior notice to the nominee. Under nomination, the nominee gets only the right to receive the policy amount in the event of the death of the policyholder; nomination does not pass on the property in the policy. If nominee dies when the policyholder is still surviving then the nomination would be ineffective. If nominee dies after the death of the policyholder but before receiving policy amount, then again the nomination becomes ineffective and only the legal heirs of the policyholder can claim money.

As per Indian Insurance Act 1938 provides for nomination of a person who would receive the benefits of the claim on the death of the life assured. Nomination establishes a clear title to the policy. This prevents dispute and also prevents delay in settlement of a death claim. In the case where nomination has not been given at the time of proposal, nomination can be made at any time during the term of the policy. Nomination can also be changed, at any time during the tenure of the policy, by intimating respective insurance company

at any time till the maturity date. All you need to do is to inform to your Insurance Company about the change through a specified form.

That Policy, which has acquired a Surrender Value, can be surrendered for payment.Once the Policy is surrendered the contract is terminated. Ther are some difference rules by policy wise and company wise,that you have to follow.

of non-payment of premium within the specified due date, you can re-apply to reinstate it, if You apply within 5 years from the date of the first unpaid premium and before the maturity date You pay all the required premiums and interest. You have to give satisfactory evidence of your health at your own expense. The reinstatement will take effect only if Insurance Company accept your application. Insurance Company will notify his acceptance to you.

Anyone who is of legal age and has dependents can buy life insurance. Dependents can be children, a spouse, elderly parents, or any other person who relies on you financially. Life insurance provides death benifite payout to your legal nominees if you pass away within the term of the policy. If Life Insurance Policy matured in your presence, you can get matured payout.

Yes, Every branch within India of your insurance comapny can accept your claim.But claim will be setteled only in your mother branch. For speedy settlement lodge death claim at mother branch only is advisable.

Yes, You Can. Every branch accept your premium. Nobody Branch can not say no for your premium accept.

There is some Documents are required for to take Life Insurance Policy like... [1]>Your Identity, Address & Birth Date Proof:-PAN Card, Addhar Card,Birth Day Certificate,School Living Certificate,PassPort,Election Card ,Driving Licence, School ID Card, Employee ID Card etc.Any Of them which demand by company [2]> For Your Health:- When ever required,regarding health you have to get medical checkup reports from Penel Doctors only. It belong on your age,sum assure and working area, job types , working types etc.Most of the Compnies are giving this types of the services giving free. [3]> For Income Proof:- Your Income Tax returns of last 3 years and bussiness proof like GST Certificate,Proff.Tax, Gumasta Dhara Licence etc. Any Of them which demand by company. [4]> For Education Proof:- Your Educational Qualification proof like Mark Sheet,Degree Certificates, Bonafide Certificats etc Any Of them which demand by company. [5]> Bank Documets:- Cencelled Bank Cheque of your any bank account's must be submited with proposal form. It must be your own bank account. Third Party bank account not allowed. Any amount payable in future by insurance company regarding this policy will be pay in this bank account.

Different Types of Life Insurance Policies in India Term insurance. Term insurance with return of premium. Endowment plans. Moneyback policy. Whole life insurance. Group life insurance. Child Insurance Plans Unit Linked Insurance Plans.

Yes, If they are dependent to you only.

No, there is payment mode of yearly only. If You wish, you can pay premium of 2 or 3 year premium in once.These type of facilities avalable by company wise only.

Generally there is defination of family is that , a group of persons united by the ties of marriage, blood, or adoption, constituting a single household and interacting with each other in their respective social positions, usually those of spouses, parents, children, and siblings. You can get involve in your mediclaim insurance policy to your spouses, your children's, your brother-sisters who are unmarried and less then 18 years old. Also you can get involve in your mediclaim policy to your Father in-law & Mother In-law if they are depended to you.

There is no limit. You can take Sum Assured of mediclaim policy, as per your living standard and capacity of paying premium. First you have to get Estimate of your maximum hospitalisation expences , and as per that expences, you can take sum assure of your mediclaim insurance policy. Even though your sum insured may be high, you will not be able to claim your entire hospitalization expenses due to the sub-limit clause on specific medical procedures. You have to take notice that mediclaim insurance policy give you that amount which you had paid hospitalisation expences only with policy terms and conditions.

No, there is no provisions for that in regular mediclaim insurance policy. But there is some companis are gives as add on with extra premium. Some company giving only for pregnancy care and delevery policy also.

There is some norms for choosing hospitals... [1] Hospital must have more then 15 beds. [2] Hospital must have local authority licence and all other legaly licences. [3] Is Hospital was prohibited, black listed,any legal actioned for not to services by insurance company or any legal authority, then you can not get benifits of your mediclaim policy. [4] Get surity for Hospital have facilities as your needs of treatments? [5] It must be specialised for your required hospitalisation treatment.

No, It is work for only in India. You can get travel insurance for it when you are going on abroad tour.

Yes, In All over India it is working.

No policy can be issued for a period of more than one year ordinarily. However, for motor cycles and scooters only, the Act Policy in Form A, which is the minimum compulsory insurance required by law, may be issued on a long term basis. Such policies once issued remain valid up to the cancellation of the registration of the vehicle by the Regional Transport Authority (R T A). This insurance is particularly useful for owners of comparatively older vehicles, for whom the Comprehensive Cover becomes a little too expensive considering the age and market value of t

Yes, policy can be issued for a period of more than one year by many companies,ordinarily for maximum 3 Years.

Private Cars, motor cycles, scooters and commercial vehicles can be insured against Fire & Theft Risks only, provided they are laid up in the garage and not in active use. The insurance company under such cover shall only be liable to indemnify the insured against loss or damage by: Fire Explosion Self-Ignition or Lightning Burglary Housebreaking or Theft and Riot Strike Malicious and Terrorism Damage In case of vehicles that are in use, Fire & Theft Risks only can be covered with the Act Liability Risks.

The Bonus/Malus concept is applicable only to the Own Damage Section of the Comprehensive Policy. The discount or loading is accordingly allowed or charged on the Own Damage portion of the premium. The Act Liability or Third Party premium is absolute. There is no scope for adjustment. As such, an accident giving rise to a Third Party claim, whatever the amount, does not affect the application of Bonus/Malus at the time of renewal of the policy.

s which are directly supplied by the manufacturer along with the vehicle. But they are not essential for the running of the vehicle. The engine of a vehicle is essential for its running and obviously not an accessory. A spare tyre, is however an accessory. Loss or damage to accessories are covered only if they are on the vehicle. In case the accessories are detached from the vehicle and kept in a garage and are destroyed by fire, they are not covered. Radios, tape recorders, air conditioners and other electrical or electronic items are fitted by vehicle-owners. These cannot be considered as accessories. These items qualify as extra fittings and the owner has to specifically describe and mention separate values towards them at the time of insurance. Only on payment of the requisite additional premium, can they be covered. However, if such items are built-in and supplied by the manufacturer, will be treated as accessories and need not be separately insured.

In such cases, one of the policies is cancelled, provided there are no claims reported in either of the policies. Refund is granted on a pro rata basis for the period both the policies are in force concurrently. If one policy is applicable during the period 1.1.2021 to 31.12.2021, while the other is from 1.3.2021 to 28.2.2022. In case the first policy is cancelled on 1.4.2021, refund is made on pro rata basis for the period 2.4.2021 to 31.12.2021. In case the second policy is cancelled on 1.4.2021, then the refund is made for the period 2.4.2021 to 28.2.2022. However if there is a claim on 1.4.2021, clearly both the policies will cover it. In such cases, the Contribution Condition of the policy is invoked, which states that each of the policies will bear its rateable proportion of the claim.

Workers' compensation is insurance that provides cash benefits and/or medical care for workers who are injured or become ill as a direct result of their job. Employers pay for this insurance and shall not require the employee to contribute to the cost of compensation.

Any firm or employer, a contractor who employs workmen as defined in the Worker Compensation Act 1923 can buy the workmen compensation insurance policy. This insurance cover provides legal liability coverage and also helps in easing the financial burden on employees and employers

A workmen compensation insurance covers the employees (including those employed through a contractor but excluding casual employees) who is engaged by any commercial business against any injury caused due to an accident that occurred during the course of employment, as well as certain occupational diseases.

In India, any organisation with more than 20 employees must mandatorily have Workmen's Compensation Insurance. This mandate by the Employees' State Insurance Act, 1948 ensures that employees can receive insurance benefits from their employers.

Policy is designed for a customers who owns jewelry shops or deals/trades in jewelry to safeguard against loss or damage to Property (e.g. gems, Jewelry, bullion bars etc.) due to defined Perils.

Jewellery insurance could cover the cost to replace your items of jewellery if they're lost, damaged or stolen while in your shop. Your jewellery is normally covered by your contents insurance, when it's in your shop. You can add extra cover for when you're away due to bussiness purpose on road , travel from shop to home or shop to other bussiness destination, to protect your items on the go.

However, jewellery is a significant investment which, if not safeguarded, could easily get stolen. Jewellery insurance in India is a specialised form of insurance that covers the financial loss of precious jewellery and other valuable items, such as gold, diamonds, and other precious stones. It is not compulsory in India but it is needable.It is assensial because all type of jewellery are going very costly

India is among the world's most disaster-prone countries with 27 of its 29 states and seven union territories exposed to recurrent natural hazards such as cyclones, earthquakes, landslides, floods and droughts.

Yes, there is Standard Fire & Special Perils Policy giving all General Insurance compnies. This policy covers risks against fire, flood, earthquake, lighting, explosion, inundation, storm, riot and strike by nominal insurance premium payment. Terrorism is also optionally covered for a nominal premium.

In India it is avalable to take insurance against riots damages.RSMD (Riots, Strikes, and Malicious Damage) is one of the types of perils covered under fire insurance. If your vehicle is insured with an active Comprehensive Car Insurance policy and you have not violated any of its exclusions, then your insurer should cover vehicle damages due to riots. This is because a Comprehensive Plan offers Own Damage cover.

Open-ended schemes can issue and redeem units any time during the life of the scheme. Closed-ended funds cannot issue new units except through a bonus or rights issue. Hence, unit capital of open-ended funds can fluctuate daily but that is not the case with closed-ended schemes. Further, new investors to an open-ended fund can join the scheme by directly applying to the mutual fund at applicable prevailing NAV. In the case of close-ended schemes, new investors can buy units only from the secondary market.

Open-ended schemes can issue and redeem units any time during the life of the scheme. Closed-ended funds cannot issue new units except through a bonus or rights issue. Hence, unit capital of open-ended funds can fluctuate daily but that is not the case with closed-ended schemes. Further, new investors to an open-ended fund can join the scheme by directly applying to the mutual fund at applicable prevailing NAV. In the case of close-ended schemes, new investors can buy units only from the secondary market.

A mutual fund scheme may receive dividend or interest income from the securities it owns. The scheme in turn pays this income to its investors/unit holders. Most open-ended funds offer an option to purchase additional units with the dividends. Dividends are often made monthly or quarterly, though most schemes declare dividend distributions on a yearly basis.

Investment in mutual funds are subject to market risks read all scheme related documents carefully before investing. However, different funds have different risk profiles, which are stated in their respective investment objectives. Funds which categorize themselves as low risk, invest generally in debt which is less risky than equity. However, it is pertinent to note that as mutual funds utilize the services of expert fund managers, they are always safer than direct investment in the stock markets.

Equity Funds are open to market risk i.e. there is a possibility that the price of the stocks in which the fund has invested may decrease. Of course, the prices may also go up, making it possible for the fund to earn superior returns Debts Funds are open to two main types of risks - Credit Risk and Interest Rate Risk. Credit Risk refers to the possibility that the company which has issued the bond or debenture in which the fund has invested may default on interest or on principal payments. Debt fund managers take care of this by investing in debt securities which have good credit rating. Interest Rate Risk refers to the possibility that the price of the bond in which the fund has invested may go down because of an increase in the interest rates in the economy. In general, it is useful to remember that this is a "see-saw" relationship - bond prices (and therefore the NAV) go up when interest rates drop and vice versa.

s: An individual in his or her name or on behalf of a minor, or jointly with one or more individuals. A Hindu Undivided Family. A Non-Resident Indian (without the right of repatriation of principal). Government Promissory Notes can also be issued on anyone or survivor basis. Bonds can be held by a minor with one or more major individual/s (including a minor).

There is no maximum limit for investment in the bonds. Application must be in multiples of Rs.1000/- subject to a minimum of Rs.1000/-.

bonds will be issued for a minimum amount of Rs.1,000/- (face value) and in multiples thereof. Accordingly, the issue price will be Rs. 1,000/- for every 1 bond.

tPara"> The date of issue of the bonds in the form of Promissory Note/Bond Ledger Account will be the date of receipt of subscription in cash or the date of tender of draft or the date of realisation of the cheque as the case may be.

tPara"> The period of holding of bonds is five years from the date of issue. The bonds shall be repayable on the expiration of 5 years from the date of their issue.