RBI Approval – RLIC sells 26% stake to NIPPON Life Insurance of JAPAN

Mumbai: The Anil Dhirubhai Ambani Group’s (ADAG) financial services arm Reliance Capital today said it has received approval from the Reserve Bank of India (RBI) for its proposed 26 per cent stake sale in Reliance Life Insurance to Japan’s Nippon Life.

The company had signed a definitive agreement to sell a 26 per cent stake in Reliance Life Insurance to Nippon Life Insurance for Rs 3,062 crore earlier this year. The deal was subject to regulatory approvals.

The Insurance Regulatory Development Authority (IRDA) has already granted in-principle approval for the proposed stake sale.

Govt. says- New LIC Chairman in Next 10 days

Mumbai: Ending months of indecision, the government is set to appoint a full-time chairman for life insurance giant LIC in the next ten days, a top Finance Ministry official has said.

“I say it will be very shortly, that could be a week or ten days,” Financial Services Secretary DK Mittal told a select group of reporters here over the weekend. Mittal blamed the delay on the long process to be followed while selecting such a candidate.

Choose an Insurance plan based on your needs

Life insurance policies serve various objectives; they are flexible and can be moulded as per one’s need and convenience to suit multiple requirements. Know when term plans work and when to look for savings-linked plans. Someone rightly said choices are the hinges of destiny; and making a choice is not an easy task, especially when it amounts to selecting from the best available options. Mention life insurance and images of protection, savings, investment and pension, besides tax savings conjure up. Life insurance is a very important and flexible financial instrument that helps us protect the financial future of our dependents and at the same time, enables us to save and invest for our own future needs. The first rule of life insurance is to definitely take a policy when one has financial dependents. All types of life insurance policies provide for death cover.

Reliance Life Launches a New Guaranteed Money Back Plan

Reliance life insurance added one more product in his basket to cater the needs of their clients and to trap the customers who are searching for best guranteed return insurance plan with money back option. Along with this plan Reliance life has also launches a new Rider called “FIBR” (Family Income benefit rider).

A brief Detail about the plan:

Reliance Life Insurance Guaranteed Money Back Plan
(get the dual benefit of protection and returns)

Reliance Life Insurance Guaranteed Money Back Plan is a Non-linked, Non- participating money back plan with an inbuilt accidental death benefit and waiver of premium benefit on death of the life assured. This plan helps you plan for the financial obligations required at various upcoming events in your life.

Black Thursday: Sensex biggest fall in 2 years: plunges 704 points the biggest down

MUMBAI: Sensex slumped 4.1 per cent on Thursday in its biggest one-day slide in more than two years as investors fled risky ssets
across global markets on a grim US economic outlook and slowing manufacturing growth in China.

A sputtering US economy and headwinds from a European debt crisis could crimp foreign portfolio investments, while a sharp fall in the rupee will accelerate inflation pressures, traders said.

The selloff picked up pace after European stocks tumbled nearly 4 per cent, with export-driven software services exporters such as Infosys , energy major Reliance Industries and banks among the big losers. “We are mimicking what is happening globally. Our markets will remain weak unless there is some recovery (in Europe),” Sailav Kaji, director of institutional equities at Padmakshi
Financial Services, said.

Indian Life Insurance industry biz among fastest growing worldwide: Assocham

India will continue to be one of the fastest growing life insurance markets with annual gross written premiums of Rs 2,680 billion set to grow by 13 to 14% and reach Rs 5,170 billion by 2015, industry body Assocham said today.

The country will contribute 10% of total global premium growth in this period and be one of the few major markets to grow at double digit rates, said The Associated Chambers of Commerce and Industry of India (Assocham).

The life insurance industry grew by 28% during 2000 and 2010 in new business premiums, 27% in annualised premium equivalent (APE) and 25% in gross written premiums, catapulting India to top ten markets globally.

“But the level of protection as measured by sum assured to GDP is about 55% relative to benchmarks in developed markets of 150% to 250%,“ said secretary general D.S. Rawat.

The relentless focus on growing new business premiums has led to several inefficiencies in business practices, he said. Creation of short-term products, incentivisation of front-line managers and agents primarily on new business and limited profiling of customer needs resulted in low levels of profitability.

Between September 2010 and March this year, the industry registered negative growth of 13% in APE. In the private sector, the negative growth was even higher at 32%. In the first quarter of 2011-12, the slowdown continued with the industry registering negative APE growth of 23% and private sector registering negative APE growth of close to 40%.

Going forward, the focus of industry will broaden beyond growth to include two important aspects which has been largely ignored in the past ��” providing long-term savings and protection to consumers, and driving profitability in the core life insurance business through sustainable business models.

Mr Rawat said the market is likely to witness continued regulatory action in line with trends which are being seen among regulators across the world. Secondly, the Indian consumer is evolving rapidly.

“Consumers are increasingly becoming multi-channel. Studies show over 80% of consumers across Asia use more than one channel across the purchase and usage process especially for buying insurance products.“

With India on the cusp of a digital revolution, mobile and internet driven transactions are estimated to grow three to four times over the next five years. So the paradigm for success is likely to change, driven by discontinuities in regulation, customer behaviour and technology adoption.

Emerging winners will have to redefine their business models with careful consideration to strategic issues around agency, bancassurance, innovation, geographic footprint and value of existing customer franchise.

Save Tax U/s 80C

Tax Saving U/s 80C

Reliance Life Insurance offers Best Insurance and Investment plan to save Tax u/s 80C

We offer in all kinds of Insurance and Investment product for Tax Saving, Future Planning, Social security and Insurance protection for you and of your Valuable things i.e Car Insurance, Home Insurance, Factory Insurance, Marine Insurance, Mediclaim Insurance etc.

Get in touch or give us an opportunity to give you best services and unbeatable advise to invest your Hard Earned Money.

Deepak Bansal

MBA Finance

(M) 9312408068

Join Reliance Life Insurance Company

As a Reliance Life Insurance Advisor, the sky is not the limit—you can go beyond.

In India, ever since the insurance industry has opened up, opportunities for insurance companies have become limitless. To tap this opportunity, they require insurance agents because agents are one of the most significant modes of bringing in much-needed business to the company.

At Reliance Life Insurance, you will not merely be an insurance agent—you will be a Financial Advisor. You will have an important role to play because you have to give valuable advice to prospective customers about their financial planning.

Opportunities for Reliance Advisors

• Make a good profit without a heavy investment.
• Enjoy the benefit of residual income.
• Maintain flexible work hours.
• Earn attractive commissions.
• Participate in exciting recognition programs.
• Associate with Reliance – One of the strongest brands of the country.
• Capitalize on the growing Insurance market.
• Become a full time sales manager.

Which Plan is best: TRADITIONAL OR ULIP PLAN ???

Before taking a decision on whether to opt for a traditional insurance policy or a Ulip, an investor has to understand how the two products operate.

Ulips provide both protection and savings combined with flexibility to investors. These are equity-linked, and have the potential to deliver higher returns.

A Ulip investor has the flexibility to switch funds, determine the amount of investment and withdraw funds partially or systematically. Ulips also provide the convenience of pliable insurance cover, which can be increased or decreased at any time. However, a Ulip policyholder needs to be more involved as the investment risk rests with him.

On the other hand, traditional insurance plans — which include term, endowment and whole-life policies — offer multiple benefits in terms of risk cover, return and safety. These are considered risk-free, as they provide fixed returns in case of death or on maturity. Investment guidelines also ensure safety of funds with a cap on equity investment.

Tax Saving U/s 80C

Reliance Life Insurance offers Best Insurance and Investment plan to save Tax u/s 80C

We offer in all kinds of Insurance and Investment product for Tax Saving, Future Planning, Social security and Insurance protection for you and of your Valuable things i.e Car Insurance, Home Insurance, Factory Insurance, Marine Insurance, Mediclaim Insurance etc.

Get in touch or give us an opportunity to give you best services and unbeatable advise to invest your Hard Earned Money.

Deepak Bansal

MBA Finance

(M) 9312408068

www.bigrupya.com