Top 10 Insurance Companies according to Claim Settlement Ratio

When it comes to buy an Insurance product, what comes to our mind is premium and other benefits attached to it. Claim Settlement Ratio (CSR) is another very important thing, buyer must have in his mind before going to purchase an Insurance Product.
What is Claim Settlement Ratio (CSR) ?
It means to the number of claims settled by the insurance company out of every 100 claim requests it received in that particular year.
Today we have brought you, top Insurance Companies as per their CSR and their comparative Performance in past years.

Insurer	CSR for 2011-12	CSR for 2010-11	CSR for 2009-10
LIC	97.42	97.03	96.54
HDFC Life	96.17	95.41	91.14
SBI Life	95.48	82.24	83.27
Kotak Life	92.1	89.3	86.97
Birla Sunlife	90.94	94.66	89.09
Bajaj Allianz	90.61	88.69	88.19
Max Life	89.84	77.96	65.51
Aviva	89.55	84.15	87.11
ING Vysya	88.82	90.49	89.3

Please note:
a) The claim settlement ratio data for respective years has been taken from the IRDA Annual Reports for respective years
b) The claim settlement ratio is overall for the company for all products taken together and not just for term plans. Separate claim settlement ratios only for term insurance plans are not available

4 Best Tips to Make A Successful Portfolio

4 Best Ways to Build Successful Portfolio 

Today we are going to share, 4 Tips to Make A Successful Portfolio, so that our readers can take good decisions on investments.

Going through the monetary maze of stocks, securities and bonds could be an astounding test. we offer the accompanying tips to give you the expertise on building a productive and profitable portfolio.

* Know your objectives: Think about what amount of cash you'll require for your youngsters' training or your retirement. Whatever your vision for what's to come could be, set your objectives and improve a solid get ready for reaching them.

* Define your time horizon:  Assuming that you're not moving toward retiring soon, you may need to have a portfolio that incorporates more long term investments. In the event that retirement is just around the corner, think about a more conservative methodology.

* Determine your Risk Capacity: Find your Risk Comfort Level and compare that and what you can bear. By and large, the more extended you need to invest, the greater risk you can take.

* Consult an expert: With a specific end goal to dodge budgetary pitfalls later on, it is frequently savvy to look for expert direction when making a portfolio.

Systematic and dedicated investments give good returns. If investor is diciplined and think about the long term, can expect good returns of his investments.

What are Mutual Funds?

How Mutual Fund Works?

As more and more people are realizing the benefits of investing they are tending towards the Stock market or Buying Mutual Funds. But most people do not know, what Mutual fund is and how does it work. So, today we are going to give you some idea about most ideal way of investing.

Before we start we should know, “Who and how one should invest?”

A person who has good understanding of Stock Market, know how to analyze company’s performance, Sale and Purchase of Shares, timing of market etc. can purchase shares directly in the market and invest. But we have few people who have this much of knowledge and time to do that. Most of us do not have time to read the charts and make decisions, but what about when someone does this for us all the time and make good investment on our behalf? Yes, there are people who do it through an investment instrument called “Mutual Funds”.

What is Mutual Fund?

In simple words, A Mutual Fund is a financial instrument in which many people pool their money and make a huge corpus. This money is then invested by fund managers, who are investment experts with good knowledge of Stock and financial market. So, investor does not need to spend his time to see the charts of the company and evaluate it, Fund managers do it on behalf of thousands of investors.

What is Mutual Fund NAV?

As there are "shares" as units in a company, Mutual Funds units, have Net Asset Value also called MF NAV. NAV grows over a period of time as investment grows with almost same ratio. There are some costs like administrative and other costs also but that is very low. 

Is MF Investment Safe?

It is very safe, but has the market risks so I would suggest comparing different MFs and their performances, over a period of time and invest.

7 Things to remember before taking a Loan

Points to keep in mind before taking a Loan

Things to remember before taking a Loan.

Most of the people take loan to buy home, cars, bikes and many other things. But have we given any thought to what loan is meant for us? Is it going to pressure our lives or going to eat away our hard earned money. To day we are going to tell you “ What to keep in mind before taking a Loan”.

Terms and Conditions: Whenever we see any advertisement of banks, it looks very attractive, showing so many schemes of low interest rates but a * (star) attached with it. Yes, that small star matters a lot. One should read terms and conditions of the bank carefully. Compare these terms with other banks or loan providers. Always keep in mind that these fine lines of T & C have greater impacts on your loan and its payments.

Cheap Loans and Processing Fees: We see advertisements of Cheaper loans but when we go for loan, they ask us for processing fees as well. So, what we have saved from cheaper loans goes to the processing fees. It is better to see give a great look at the processing fees as well.

Compare Interest Rates: Earlier we did not have access to all banks to compare interest rates, but these days things have become very easy and we can get these information in our drawing rooms. Visit websites of banks and lenders, compare interest rates and take your decision.

Bargain for Lower Interest Rates: Yes, Bargaining is also available in finance market as well. If you have details of many lenders and their interest rates, you can bargain for a better deal as agents get higher commission to charge you higher interest rates. These deals are always there. You can bargain with private banks easily compare to Public Sector Banks.

EMIs : EMI is also important, as you will pay out of your monthly income, EMI of Loan should not more than your monthly income. It should be around 30% of your monthly income.

Loan for Consumer Goods: One should try to avoid loan for consumer goods. Loan for TV, AC, Refrigerator etc. are not good in our point of view as they put burden on you.  Try to buy these things when you have some extra money.

Personal Loan For Emergency Only: DO not take personal loans for lifestyle maintenance. Keep personal Loan Option for emergency only. Personal Loans have very high Interest rates Compare to other financial products. So, it is advisable to stay away from it unless you have no other option.

LIC Withdraws Some Insurance Policies

 

Withdrawal of Some Insurance Policies by LIC

One of India’s Largest Insurer “ Life Insurance Corporation of India” also called LIC has advertised to withdraw some of its Policies. These Policies will be withdrawn from the market on the specific dates provided in the Newspaper Advertisements by the LIC of India.
You can get the details about these policies from the list provided below. If you need more details about these policies, you can visit the Official Website of Life Insurance Corporation of India or click Here   

Sl. No.	Plan No.	Plan Name	Last date for Sale	Effective date of Withdrawal
1	8	Limited Payment Whole Life Policy	15-Nov-13	16-Nov-13
2	41	Children’s Deffered Endowment Assurance (Vesting Age 21 Years)	15-Nov-13	16-Nov-13
3	50	Children’s Deffered Endowment Assurance (Vesting Age 18 Years)	15-Nov-13	16-Nov-13
4	43	Two Years Temporary Assurance	15-Nov-13	16-Nov-13
5	52	Mortgage Redemption Assurance	15-Nov-13	16-Nov-13
6	58	Convertible Term Assurance	15-Nov-13	16-Nov-13
7	811	LIC’s Flexi Plus	15-Nov-13	16-Nov-13
8	2	Whole Life Policy	23-Nov-13	24-Nov-13
9	88	Jeevan Mitra	23-Nov-13	24-Nov-13
10	167	Jeevan Pramukh Plan	23-Nov-13	24-Nov-13
11	805	LIC’s Bima Account – I	23-Nov-13	24-Nov-13
12	806	LIC’s Bima Account – II	23-Nov-13	24-Nov-13
13	164	LIC’s Anmol Jeevan – I Plan	30-Nov-13	1-Dec-13
14	812	LIC’s New Jeevan Nidhi	30-Nov-13	1-Dec