Insurance Plan Selection Blog

How to Compare Whole Life Insurance Quotes

Whole life insurance rate quotes are quick and easy to compare online. Whole life is a traditional form of cash value life insurance coverage for your entire life-time.

Life Insurance

Whole life plans provide a death benefit and accumulating cash value within the policy.

A major benefit of whole life insurance is that the premium is fixed remaining the same each year, and the death benefit remains level.

Even if the economy is unstable, this policy will give you peace of mind.

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India’s insurance regulator is proposing to ban Third Party Administrators (TPA) from operating as intermediary for the government-sponsored health insurance schemes.

“The licensed TPAs cannot enter into arrangements for servicing health schemes promoted, sponsored or approved by any non-insurance body including central, state, local governments, firms, corporates during the subsistence of the TPA license granted by the IRDA,” the regulator said in a draft circular, on which it has invited comments.

The Insurance Regulatory and Development Authority (IRDA) had in 2005 allowed TPA to act for government sponsored schemes, but since then there has been an exponential growth in the health insurance industry.

The gross written premium of health insurance in India has increased to about Rs 11,145 crore (US$2.5 billion) at the end of March 31, 2011, from Rs 1,535 crore in end-2005.

“Given the growth of the health insurance sector it is important that the systems in place for servicing the health insurance should be dynamic and effective in order to ensure the orderly growth of the health insurance business in India,” the draft said.

The circular said that with respect to existing contracts that any TPA is servicing with the government, such contracts would be continued till expiry of the period, without further renewal.

“All insurance companies are directed to ensure that the TPA with whom they seek to enter into an agreement to render “Health Service” do not have any similar arrangement…for servicing parties other than insurance companies…,” it said.

Doug ElliotHartford, Conn., March 28, 2011- – The Hartford Financial Services Group, Inc. today announced that Douglas G. Elliot, 50, will join the company as president of Commercial Markets on April 6. Elliot will report to Liam E. McGee, chairman, president and chief executive officer of The Hartford.   The Hartford Financial Services Group, Inc. today announced that Douglas G. Elliot, 50, will join the company as president of Commercial Markets on April 6. Elliot will report to Liam E. McGee, chairman, president and chief executive officer of The Hartford. Read full post…

What is the average cost of term life insurance?

If youre shopping for term life insurance, you may be asking yourself this question.

There is no one right answer for the average cost of term life insurance, because the prices vary by person, age, gender, insurance company, policy type, amount of coverage, and several other factors used to determine your price for life insurance.

However, in a recent study, the average amount of life insurance owned by an individual in America was $116,000.

Obviously, none of us wants to pay more than the average for anything, especially insurance.

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Housing Development Finance Corporation (HDFC, BSE:500010) has said that it may come out with an initial public offering (IPO) for its insurance business in about two years.

“We are planning to come up with an IPO for insurance in two years,” HDFC Chairman Deepak Parekh said at the annual general meeting (AGM) of the company.

Parekh said the new Insurance Regulatory and Development Authority (IRDA) guidelines that allow life insurers to float an IPO without three year profitability clause would help but said the firm would need to discuss about it with its partner Standard Life.

He said Standard Life would have to increase its stake to 49 per cent from the current 26 per cent, so that part of its shares (the increased stake) can be offered to the investors.

IRDA is planning to allow the foreign investor to increase stake to 49 per cent from 26 per cent at present.

About interest rates, Parekh expects the Reserve Bank of India to raise its key rates by 50 basis points this fiscal year.

“I think in this fiscal it (the rates) will go up by 50 basis points maximum. It wi

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When poor people are given medical insurance, they not only find regular doctors and see doctors more often but they also feel better, are less depressed and are better able to maintain financial stability, according to a new, large-scale study that provides the first rigorously controlled assessment of the impact of Medicaid. Related

While the findings may seem obvious, health economists and policy makers have long questioned whether it would make any difference to provide health insurance to poor people.

It has become part of the debate on Medicaid, at a time when states are cutting back on this insurance program for the poor. Read full post…