Most of us review our investments periodically. A similar exercise is needed for your insurance covers as well. Here we list six common situations which should trigger a review of your insurance portfolio. If any of these emerge in your life, it's time to call up your insurance agent for a status check.
From 1 July 2011, if your bank fails to reimburse you the money debited
wrongfully from your account due to failed ATM transactions within seven
days of your complaint, the bank will have to "pay a compensation of Rs
100 per day".
A committee formed to review the government's savings scheme has recommended that the interest paid on savings instruments under the scheme, except post office savings accounts, be reviewed annually and benchmarked to government securities.
The Central Registry of Securitisation Asset Reconstruction and Security
Interest of India, a government company, has been incorporated for the
purpose of operating and maintaining a central database of mortgaged
The cover package on mutual funds (Hooking the Best Funds, June 2011)
was highly instructive as it went beyond just ranking the various
schemes available in the market, says HARI SHARMA from New Delhi.
Scores assigned by the Credit Information Bureau (India) Limited (Cibil), the country's first credit bureau, has a direct bearing on the fate of all prospective borrowers in the country. Arun Thukral, MD, Cibil, tells Tanvi Varma and Dipak Mondal about how both lenders and borrowers can benefit from the bureau's work and the initiatives in the pipeline.
It is almost a year since the Insurance Regulatory and Development
Authority (IRDA) issued its new guidelines on unit-linked insurance
plans (Ulips) on June 28, 2010, forcing an overhaul of the product
offerings. Critics have been silenced with the new norms resulting in moderation of
commissions and charges, thereby leaving more to be invested.