Life Insurance

The Union Ministry of Textile and Life Insurance Corporation of India (LIC) have jointly introduced the Janashri and additional Group Insurance Schemes for the weavers using power looms for the year 2005-2006 also.

The weavers who had insured during 2004-2005 will have to renew the registration. Those desiring to register afresh have to pay a premium of Rs 200 for Janashri scheme.Of this the LIC will bear Rs 100 from its security fund while the Centre will contribute Rs 60.The weaver has to pay Rs 40 as his contribution to the premium.

In case of natural death during the risk covering period the nominee of the insurer would get Rs 20,000 and in case of unnatural death the amount would be Rs 50,000. For an additional premium contributed by the insurer the Centre would pay a matching contribution making the premium amount Rs 180.

Insurance cover for weavers

Constantly Updated - Comprehensive List of the best deals on Life Insurance:

Tesco Personal Finance is running a cross-media prize draw promotion to encourage consumers to apply for up-to-date quotes for its life insurance policies.

Under the promotion, devised by Harvest Digital, consumers who apply for a quote will be offered the chance to enter the draw to win an all-expenses-paid family holiday to Florida.

Tesco set for life insurance drive through Harvest Digital

Sainsbury’s Bank has called on Britons to make sure their life insurance covers more than just their mortgages, as this could leave their loved ones exposed.

The bank is calling on people to remember the true benefit of life insurance - the ability to provide your family with long term financial security should the worst happen.

Research for Sainsbury’s Bank reveals that only 16 per cent of people with life cover said they had bought it to protect their family, while 44 per cent of people said they took out a policy to cover a property or remortgage.

This would appear to explain why nearly three quarters of people with life insurance (73 per cent) have less than £150,000 worth of life cover, a figure close to the average mortgage loan in the UK.

Life insurance should be used for more than mortgages

Gov. Bill Richardson signed a bill Wednesday making New Mexico the first state to underwrite $250,000 in life insurance for National Guard members.

“Our troops need more than speeches and pats on the back. … They need help for their families,” he said.

The Senate passed the bill unanimously Tuesday before sending it to the governor. The House passed it unanimously last week.

N.M. governor to subsidize guard insurance

Eight months ago soldiers with the 278th Regimental Combat Team were running and getting into shape knowing they may be sent to Iraq. Now they’re in Iraq and many families are left wondering when or if they’ll come home.

“It’s something any of us could be going through, me or anybody. I think about it everyday.” Said Tara Spears, Soldier’s Wife.

But a bill being talked about in Nashville could help families survive in this tragic situation. State Representatives Matthew Hill and David Davis along with Senator Rusty Crowe are

Co-sponsoring a bill that would eliminate the costs of life insurance worth 250-thousand dollars for active duty Tennessee National Guard soldiers. The price tag for the state would be nearly a million dollars.

National Guard Life Insurance

Senators might use President Bush’s fiscal 2005 supplemental spending request as a vehicle to curb predatory sales of life insurance and other financial products at military installations around the globe.

During a Senate Armed Services Committee hearing Tuesday, Sens. Susan Collins, R-Maine, and Hillary Rodham Clinton, D-N.Y., said they hope to use the anticipated $80 billion supplemental to reverse language inserted into the fiscal 2005 Defense appropriations bill that prevents the Pentagon from amending its regulations governing commercial insurance sales at military bases.

War supplemental might target military life insurance sales

Gov. Bill Richardson signed a bill in Santa Fe making the state the first to underwrite $250,000 in life insurance for National Guard members.

“Our troops need more than speeches and pats on the back. They need help for their families,” the Democrat said.

The measure passed both houses of the Legislature by unanimous vote.

Life Insurance for Guard Members Underwritten

State Bank of India will apply for permission to set up a non-life insurance company even as it is preparing to shortly launch its infotech venture. SBI chairman, AK Purwar, told TOI that the bank had gained considerable experience while marketing the general insurance products of New India Assurance Company.

“A viability study for starting SBI’s own non-life insurance company was undertaken and it was found that there is a good potential in this area. So, the bank is now planning to approach the government and the Reserve Bank of India (RBI) for permission to float a general insurance company,” he added. SBI already has a life insurance subsidiary which figures amongst the top five players in the private sector.

SBI to foray into non-life insurance, infotech

The Bao Viet Life Insurance Company has become an official member of the Life Insurance Marketing and Research Association (LIMRA International).

The company will get access to international standards of product designing, business activity assessment, and professional ethics training for sales agents.

In addition, LIMRA will provide the company with expertise in personnel selection and insurance agent training, as well as in managing and organising programmes on selling and developing new products.

By Jan. 2005, Bao Viet had registered more than 4 million insurance contracts. At present, it has 4 million valid contracts and has fulfilled more than 133,000 others. Hundreds of thousands of customers have received more than 1.3 billion VND from the company.

Bao Viet Life Insurance Company becomes LIMRA Int’l member