Skip to main content

Consider claims ratio of insurer before buying a policy

Tax Saving Mutual Funds Online

Current open Infra Bond Application form

 

THERE are several points that need to be considered and analysed while selecting an insurance policy.

This would mean that there are a lot of considerations that go into the entire decision-making process as far as the selection of the insurance company and policy are concerned. But, what should also become a part of the decision-making process is the manner in which the claims are paid or handled, and, hence, this is something that needs the attention of anyone who is buying insurance.

Unless, this is done, there could be a situation where the entire effort of buying a policy is wasted if the claims experience is not sound.

Claims Ratio: One of the ways by which an investor is able to track the entire process is by looking at the data that is available for various insurance companies.

Among the statistics that are released by the insurance regulator, the Insurance Regulatory and Development Authority (Irda), there is information that covers the claims paid or the claims settlement ratio.

This ratio is nothing but the percentage of claims that are actually paid by an insurance company, once they are received from policyholders. So, a claims settlement ratio of 90 would indicate that the company has paid 90 claims out of every 100 claims received.

While a higher claims ratio is a good thing for the policyholder, there are several other factors that need the attention of the investor so that he analyses the right information. Understanding the policy: A reason why there are often some problems with respect to a claim settlement is due to the fact that the policyholder has a misunderstanding of the policy details. Usually, there has to be a complete reading of the features of the policy, and, then, these needs to be acted upon so that there is a proper way in which the entire situation is handled. In reality however, there is not much interest that is actually shown when a policy is taken and the policy document is just kept aside. Action is often taken based on the understanding of the policyholder, which might not have been verified with the actual details of the policy. This could mean that it could be too late to do anything about it and the claims are likely to be rejected.

Traditional policies: A significant factor that also needs attention is the type of policies that are available.

Take traditional policies for example, where there is more of a savings element involved, and in such a case, the completion of the necessary time period of the policy will lead to a position where the amount is likely to be settled. This also might reduce the scope of disputes because there is a payout on the policy that does not need much attention of adhering to some technical conditions.

On the other hand, there are chances that death claims could come under a detailed scrutiny, and, here, the scope of the disputes could be higher.

Exclusions: The exclusions that actually figure in the policy are some of the key elements that need consideration because these could be the main reason why the policy payment might not be paid. So, there are conditions like suicide within a specified time period of taking the policy that is not covered or death due to specified pre-existing conditions that are not covered for a specific time. Another reason why a lot of claims are rejected is due to the fact that the required information that needs to be provided at the time of taking the policy is not provided or some of the information is actually held back or wrongly provided, and in such a situation, the individual will find that the chances of the claims being rejected are quite high.

 

---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

 

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

 

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

 

These Application Forms can be used for buying regular mutual funds also

 

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

  1. HDFC TaxSaver
  2. ICICI Prudential Tax Plan
  3. DSP BlackRock Tax Saver Fund
  4. Birla Sun Life Tax Relief '96
  5. Reliance Tax Saver (ELSS) Fund
  6. IDFC Tax Advantage (ELSS) Fund
  7. SBI Magnum Tax Gain Scheme 1993
  8. Sundaram Tax Saver

---------------------------------------------

Application form for Tax Saving Infrastructure Bond and more information

Current open Infra Bond Application form

 

Submit filled up application    Collection canter near you

 

Popular posts from this blog

Post Office Deposits Interest Rates

Best SIP Funds to Invest Online   SIPs are Best Investments when Stock Market is high volatile. Invest in Best Mutual Fund SIPs and get good returns over a period of time. Know Top SIP Funds to Invest Save Tax Get Rich For further information on Top SIP Mutual Funds contact  Save Tax Get Rich on 94 8300 8300 OR You can write to us at Invest [at] SaveTaxGetRich [dot] Com

LIC Leave Encashment Plan

LIC Leave Encashment Plan       Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015 1. ICICI Prudential Tax Plan 2. Reliance Tax Saver (ELSS) Fund 3. HDFC TaxSaver 4. DSP BlackRock Tax Saver Fund 5. Religare Tax Plan 6. Franklin India TaxShield 7. Canara Robeco Equity Tax Saver 8. IDFC Tax Advantage (ELSS) Fund 9. Axis Tax Saver Fund 10. BNP Paribas Long Term Equity Fund You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds Invest in Tax Saver Mutual Funds Online - Invest Online Download Application Forms For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call --------------------------------------------- Leave your comment with mail ID and we will answer them OR You can write to us at PrajnaCapital [at] Gmail [dot] Com OR Leave a missed Call on 94 8300 8300 --------------------------------------------- Invest Mutual Funds Online Invest Any Mutual Fund Online Download Mutual Fund Application Forms fro

Power of Compounding in Investments

Power of Compounding in Investments Invest Rs 1,50,000 and Save Tax up to Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds. Save Tax Get Rich Top 10 Tax Saver Mutual Funds for 2017 - 2018 Best 10 ELSS Mutual Funds to Invest in India for 2017 1. DSP BlackRock Tax Saver Fund 2. Tata India Tax Savings Fund  3. Birla Sun Life Tax Relief 96 4. ICICI Prudential Long Term Equity Fund 5. Invesco India Tax Plan 6. Franklin India TaxShield  7. Reliance Tax Saver (ELSS) Fund 8. BNP Paribas Long Term Equity Fund 9. Axis Tax Saver Fund 10. Sundaram Diversified Equity Fund Invest in Best Performing 2017 Tax Saver Mutual Funds Online Invest Best Tax Saver Mutual Funds Online Download Top Tax Saver Mutual Funds  Application Forms For further information contact  SaveTaxGetRich on 94 8300 8300 OR You can write to us at Invest [at] SaveTaxGetRich [dot] Com OR Call us on 94 8300 8300

MF SIP Top Up Online

Mutual Fund SIP Top Up Online As your monthly income grows, so should your savings. With this facility, you can increase your existing monthly SIP contributions. This can be done on a half-yearly and yearly basis. And you can top up with a minimum of Rs.500 per installment or multiples of Rs.500 as per your convenience.

Kotak Banking Exchange Traded Fund (ETF)

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300 Kotak Banking Exchange Traded Fund (ETF) Kotak Mahindra Mutual Fund has launched Kotak Banking Exchange Traded Fund ( ETF ). The fund aims to provide returns before expenses that closely correspond to the total returns of stocks belonging to the CNX Bank Index , subject to tracking error. For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call Leave a missed Call on 94 8300 8300 Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com --------------------------------------------- Invest Mutual Funds Online Invest Any Mutual Fund Online Download Mutual Fund Application Forms from all AMCs Download Mutual Any Fund Application Forms --------------------------------------------- Best Performing Mutual Funds Largecap
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now