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 September 30, 2013
 East New York to Compensate Storm Victims for NFIP's 'Earth Movement' ExclusionNew York will use part of its share of billions of dollars in federal Superstorm Sandy aid to ``fully compensate" storm victims who had ... Flood Insurance Premiums Rising Along New Jersey CoastHundreds of New Jersey flood insurance policyholders will soon be facing higher premiums spurred by sweeping changes to the federal law ... South Jersey Boardwalks' Unique Aspects Challenge FirefightersSqueezing a bunch of structures together along a street made of wood is probably not the way to go when building a fire-resistant ... Connecticut Urges Sandy Victims to Apply for ReliefConnecticut's governor is pointing small businesses affected by Superstorm Sandy to a state website designed to streamline the process of ...  Midwest Ohio Work Comp Bureau Awards More Than $258K to Support Workplace SafetyOhio Bureau of Workers' Compensation (BWC) has awarded more than $258,000 in safety intervention grants, split among nine employers. "We ... North Dakota Oil Patch Town Wants Speed Limit ReducedResidents of a small town in the middle of the North Dakota oil patch say they're sick of semitrailers barreling past their homes and want ... Higher Speed Limits Take Effect on Some Ohio RoadsThe speed limit has increased on some parts of U.S. and state routes throughout Ohio. The changes took effect Sept. 29 on more than 600 ... Southeast West Virginia Supreme Court Judge Hits Ruling on MasseyWest Virginia Supreme Court Justice Robin Davis criticized her colleagues in a dissenting opinion Friday for refusing to let institutional ... Alabama Widow Awarded $850,000 in Husband's Death from Medication ErrorA jury in eastern Alabama has awarded a widow $850,000 after her husband was given three times his normal dosage of medication and died ... Group Sues to Block Tennessse Rules on Health NavigatorsA health care advocacy group is suing to halt emergency rules enacted in Tennessee to require background checks for people giving advice on ... Mississippi Insurance Chief Sues to Halt Flood Insurance Rate HikesThe Mississippi Department of Insurance has filed a lawsuit against the federal government to try to block rates from increasing Oct. 1 in ... South Central OSHA Levies $175K in Fines in Fatal Arkansas Crane AccidentA federal safety agency has levied $175,000 in fines against a crane company, Entergy and other firms over a fatal crane accident at ... MarketScout Expands Workers' Comp Specialty DivisionMarketScout, the national electronic insurance exchange and specialty MGA headquartered in Dallas, Texas, announced staff promotions ... Oklahoma Safety Checkpoint Nets 17 Citations for Driving Without InsuranceMembers of the Oklahoma Insurance Department's Anti-Fraud Unit and deputies with the Tulsa County Sheriff's Office recently wrote 17 ... West Montana Man Sentenced For Workers' Comp FraudA 76-year-old Havre, Mont. man has been ordered to pay nearly $84,000 in restitution in a workers' compensation fraud case. The U.S. ... Disaster Declaration For New Mexico's Santa Clara PuebloPresident Barack Obama has signed a disaster declaration for New Mexico's Santa Clara Pueblo. Friday's move frees up federal aid to ... Wrongful Death Suit Filed Against Colorado Bar After Triple-Fatal CrashThe parents of a 16-year-old Carbondale girl who was killed in a car crash have filed a wrongful death lawsuit against a Glenwood Springs ... LAPD Chief Beck Rescinds Car Impound PolicyLos Angeles Police Chief Charlie Beck has rescinded the department's controversial car impound policy that made it easier for unlicensed ... AmTrust to Acquire The Insco Dico Group in CaliforniaAmTrust Financial Services Inc. has entered into a definitive agreement to acquire The Insco Dico Group for roughly $85 million, $7 million ...  International FERMA Forum Opens with Solvency II Analysis from Karel Van HulleThe bi-annual Risk Management Forum of the Federation of European Risk Management Associations (FERMA) kicked off with a reception on ... FERMA Releases Positions on Captives, Niche Companies and Solvency IIThe Federation of European Risk Management Associations (FERMA) released a bulletin detailing the organization's position on how captives ... Attorney Jeff Kingsley on 'Post Event' Regulatory Changes, Cyber LiabilityJeff Kingsley, a partner in the law firm of Goldberg Segalla, specializes in the emerging and highly complex field of cyber liability and ... Industry Pioneer Stephen Catlin on Insurance and Environmental ConcernsStephen J.O. Catlin has led the company/group that bears his name since 1984. He's seen it grow into the biggest syndicate at Lloyd's with ...  Join the Insurance Journal Network
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New Discussions in the ForumsMy CPCU journey - almost finished..... Posted: Mon Sep 30 -- Margo - check out the Institutes website. They have a chart that shows what designations will give you credit. I know that by having my CLU... bjwestner Travelers reducing commissions Posted: Sun Sep 29 -- So, are all the agents that represent Travelers thrilled with the new, lower commission schedule on the new auto product? Are all of you... lonestar Feedback - Good, Bad, Ugly on the following Aggregators/GAs Posted: Thu Sep 26 -- I looked at Smartchoice. They said they would hook me up with a bunch of carriers. So they have MET Life call me & Before I realize it I'm... ZappMan What is your biggest pain as an agent? Posted: Thu Sep 26 -- The DNC List! I hate that thing. You can't call anyone anymore it seems like. The only thing worse that that is Voice Mail. ZappMan California Work Comp Class Code detail Posted: Thu Sep 26 -- It is very easy to find the classes and codes... FurriePrincess Non-for-profit Volunteer Coverge Posted: Thu Sep 26 -- PB1 has it right. Volunteer accident coverage is less expensive than WC (when you can get it) and more readily available. GL policies should... CH@Ins4nonprofits Peer-2-Peer Musical Instrument Rental Insurance (SV Startup) Posted: Thu Sep 26 -- Hello everyone, I'd like to inquire about insurance for our business: We're a peer-to-peer internet startup based in San Jose, CA. Our... tobytobitobe Agency Management System Posted: Wed Sep 25 -- Hello, A lot of good info here. I checked out the following... ZappMan Information on Clusters Posted: Tue Sep 24 -- If you've written $1,000,000 in premium in 4 months, why can't you just get your own contracts? yoyowordup Reader CommentsGlobal Warming Slows as Fossil Fuel Emissions Rise to Record Posted: Fri Sep 27 -- I love this comment. "The lower pace of warming in recent years may be explained by natural phenomena including volcanic eruptions, a... Baxtor Idaho Gun Show Canceled Due to Insurance Requirements Posted: Tue Sep 24 -- Well, if Fred says it was a totally different group, then it was a totally differnet group. FYI, Fred, gun shows have guns in there...AND... insurance is fun! Travelers Launching Low Cost, Segmented Product in New Personal Auto Strategy Posted: Mon Sep 23 -- Travelers has always been known as wanting the cream of the crop business with high credit scores, no violations etc. I don't think they... Agent Louisiana State Treasurer Suggests State-Run Flood Insurance Plan Posted: Fri Sep 27 -- There is a way to help subsidize flood rates. The Federal government could require every home owners policy cover flood. Like stated, flood... Baxtor FEMA Chief Disappoints Senators, Says He Can't Delay Flood Insurance Rates Posted: Wed Sep 25 -- Then why not the following: if people can not afford to pay medical insurance then they simply can not afford to receive medical help. But... Mulligan | Subscriber ToolsCurrent IssueSeptember 23, 2013  Surplus Lines: State of the Market / NAPSLO Issue; Lloyd's Syndicate Spotlight; Quarterly Employee Benefits Brokerage Report; Bonus: The Florida Issue (Special Supplement) More NewslettersMarket DirectoriesNew Insurance JobsHow to AdvertiseFor information about advertising on this newsletter and Insurance Journal magazines, contact Julie Tinney at (800) 897-9965 x148. View our Media Kit for advertising options in our magazines and online properties. Copyright © 2013 by Wells Media Group, Inc. |
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| What is Recharge of Insurance Sum Assured? Posted: 30 Sep 2013 05:08 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
The Recharge feature is available with Religare health insurance. Taken from Policy wordings of Religare Care, the explanation of Recharge of Sum assured is as Under:
Recharge is the Reinstatement of the Sum assured. If the claim is payable in the policy, then the company agrees to automatically make the reinstatement of upto the sum assured for that policy year only provided:
1) Recharge will be utilised only after the sum assured and No claim bonus has been totally exhausted in that policy year.
2) The Recharge shall be available only for all future claims and not in relation to any illness or injury for which a claim has already been admitted for that insured person during that Policy Year
3) The total amount of Recharge shall not exceed the sum assured for that policy year
4) The Recharge amount will not be available in case there is only a single claim in the policy year.
5) The balance of recharge amount shall be available during the policy year till it is exhausted completely.
6) Any Unutilised recharge cannot be carried forward to any subsequent Policy Year.
Now what the above exhibit shows is that Recharge was not available for the first claim, and as per the policy wording also recharge amount cannot be claimed for the first/single claim in policy. But for second claim where the sum assured was not proving sufficient, recharge gets activated and supported the claim payment. There's only one condition, which is that the claim where recharge will be utilised should not be related to any of the previous claim in that policy year. This means that if in all the scenarios above the Claim 2 was related to claim 1 then No Recharge of sum assured benefit would have been available.
Happy Investing!! We can help. Call 0 94 8300 8300 (India) 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 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 )
------------------ Best Performing Mutual Funds
|
| Four Different Types of Personal Insurances Posted: 30 Sep 2013 04:28 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
Generally there are four kinds of insurance policies which should be a part of your portfolio – life, health, personal accident and critical illness. Now the question arises as to who should take what and when? The purchasing of any policy should be guided by your life cycle stage and goals. Life Insurance: It is very clear that when there is anyone financially dependent on you, you should definitely buy life insurance policy with adequate sum assured.
Health Insurance: This is a very important cover which must be taken even if there are no dependents. Looking at the rising health care costs one must buy this policy the moment they become financially independent. Sometimes people avoid taking health insurance since they are already covered by their employer. But to cover up the uncertainties in the job market this insurance is must. Moreover one should understand that it would be very difficult to get a health cover once you get diagnosed with some illness or when you retire. The earlier, the better. Critical Illness (CI) policy: One can buy a separate policy or can take it as rider with the life insurance policy. This insurance covers major illnesses related to the heart, brain, kidney etc. and provides a one-time lump sum amount for treatment. ( also read: All about critical illness policy) Personal accident (PA) policy: This is the most ignored amongst the lot as it does not have any tax benefit. On the other side it is the cheapest, so sometimes you find its benefit attached with your credit card, bank accounts etc. But like other policies this policy has its own impact on your financial well-being and insurance portfolio. This policy covers you in the case of accidental death, permanent total disability, permanent partial disability and temporary total disability. You can purchase this policy separately or can take it as a rider with any life insurance policy. But it is advisable to take it separately as you can manage it better. Also, the stand alone policies are generally more comprehensive than riders
Happy Investing!! We can help. Call 0 94 8300 8300 (India) 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 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 )
------------------ Best Performing Mutual Funds
|
| Financial Discipline in Investing to reach your Goal Posted: 30 Sep 2013 03:30 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
The word financial discipline has 2 parts- Financial and Discipline, and both are you aware of separately but finds it very difficult to follow connected. Discipline by definition is the practice of training people to obey rules or a code of behavior using punishment or motivation. All of us have experienced discipline in our life in one way or other. Schooling lays foundation is one's life. And it is the place where we first experience discipline. To lay discipline in our studies there were a set of curriculum, set of rules, punishments and behavioral strategies to regulate children and adolescence to maintain order. We've experienced a defined standard of clothing, time keeping , social behavior etc. in school. The one who follows every rule with obedience and sincerity gets best student of the year award. Parent teacher meeting gets organised every month to review the kids' progress and point out the gaps if any, so that all the stake holders remain on the same page and goal of kids' betterment be achieved.Discipline and habit
Discipline can be brought in through Punishment and motivation. You may scold or punish your kid to refrain him from doing something; also you may offer him some gift or anything of his liking to make him do something like getting good marks in exam etc. As the kids started growing old the former method starts losing its importance. Motivation plays a big role than punishment. Same way some people work hard in job, follow the code of conduct , rules and policies laid down by company, with the fear of losing job , which shows the reason of his discipline is Punishment. On the other side some people work hard with a view of getting promoted or earning appraisal next year and this is motivation. Getting up early for a morning walk might be sort of punishment for many but slowly when one starts feeling the improvement in his health it becomes a motivation and he starts enjoying it and generates more positive results. Many times discipline starts with punishment or we take it as punishment but when we become regular to that and find good results we get motivated to continue with it and later it becomes our habit.
What is financial discipline anyway?
Complete financial sector work in a defined and disciplined business strategy. They follow the rules and laws set out by regulators which keep a check on their work and financial discipline. And those who don't follow the basic rules of borrowing, spending, investing …face situations like what kingfisher is facing today or what has been happened in the western countries. We have our seniors /bosses who keep a watch on us for our work discipline. But in our personal financial life we are so mismanaged, that many times we find it difficult to go for a movie in the last days of month. We don't take holistic view of our finances and what effect one decision is going to give on other. We come to know of our financially undisciplined behaviour when we get punished in the form of Loan rejection due to bad credit score or life Insurance rejection due to not filing proper income tax return etc. Now you have two options. Either get the signals in the right sense and find out motivation in that punishment or close your eyes on your financial matters as you always do. Please understand that you just can't blame on government, economy or employer for all those mistakes that you have or are committing. This is your financial life, make it or break it. Going forward your child will ask for a certain amount for his education, you will not be receiving regular pay checks after retirement, Your employer or government will not be there to support your family in case something happens to you. It's high time to understand the responsibilities and show some financial discipline. As I said above that in starting you may have to compromise on many things like you could not be able to buy latest I phone or LED or may have to postpone your vacations …and thus you start taking it as punishment, but going forward the results will motivate you to continue and it will become your habit. Smart tips to inculcate Financial discipline
Unfortunately we did not learn in school on how to be in financial discipline, thus you yourself has to find it out. There are a number of obstacles that stand in your way when it comes to financial discipline. Over time we haven't practiced the basics and unfortunately that has led many of us being in debt, unprepared for retirement, with little to no emergency fund. Many of us aren't even aware of what our debt really costs us. We don't really know what our debt looks like, or think about how it affects our future. See, it's all about giving a start. In the words of Robin sharma -New habits become old habits when you do them every day. So adopt one great new habit today. We only do challenging things if we can convince ourselves that the reward for doing these things is greater than the cost of doing them. I have read somewhere that psychologist say it takes 30 days to create a new habit. Getting up at 5 a.m to jog daily may be hard at first, but after 30 days it will become a routine. The same thing goes with money.
Happy Investing!! We can help. Call 0 94 8300 8300 (India) 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 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 )
------------------ Best Performing Mutual Funds
|
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Insurance Law, Regulation - Jim Wrynn's Experience Covers It All
