Sunday, 24 July 2016

How to Check Bank of India Account Balance through SMS

Bank of India (BOI) is a government owned nationalized commercial bank. BOI provides a large range of online banking facilities to its customers to enhance their banking experience. It also offers many types of loan facilities like; Home Loan, Personal Loan, loan against Property, loan against gold. Furthermore it has launched variety of credit cards to fulfill its customers’ needs. Bank of India is one of those banks who think about the farmers who give Indian economy the analogous strength; BOI has introduced different types of cards for farmers such as; Kisan Credit Card, BOI Shatabdi Krishi Vikas Card, Kisan Samadhan Card, Star Bhumiheen Kisan Card etc.

Ways to Force Insurance Company to Pay Your Claim

Insurance is clearly a legal contract between insured and insurer and it works on utmost good faith; which means both parties (Insurer and Policyholder) are supposed to disclose all the facts clearly. In insurance contract, insurer has a legal obligation to honor the claim.
Usually, no insurer rejects a claim request unreasonably because of stringent guidelines of IRDAI; however, if you think that your claim deserves to be honor but your insurer is not doing so. Then you can force him to pay your insurance claim by approaching authorities setup by the government. You can also take this matter to civil courts but before that, you should approach the authorities that are especially established to handle insurance related disputes.

Where (How) to File Complaint against Insurance Company in India

If you have filed an insurance claim and it’s been rejected by your insurance company and you think it’s unfair, then there are many ways to file a complaint against the insurer. Generally, no insurance company rejects a claim request unreasonably; there are many reasons due to which an insurer may refuse to honor a policy claim. However, if you think that it’s unfair and you have supporting documents (like: policy wording, premium receipts etc) to prove that your claim should be honored then don’t embarrass, there are some authorities setup by the government to help you.

Sunday, 10 July 2016

How to Surrender an Insurance Policy

Policyholders can surrender their policies if they have paid the premiums for three or five consecutive years from inception (For new ULIP policies, IRDA has increased the lock-in period from three years to five years). If policyholder fails to pay premiums for at least three or five consecutive years from inception then he/she may not be entitled to get surrender value or paid-up value.

Consider These Options Before Surrendering Life Insurance Policy

Are you going to surrender your life insurance policy? Do you know that you have some options to fulfill your financial needs without surrendering your policy? If you don’t know what are other options available to you then you are at right place. In this post, we’ll show you some options that you can consider before withdrawing a policy. Practically, policy surrender is not a good option because it is subject to penalties such as, surrender charges; therefore, one should seek other options before doing so. Probably, you may aware that on terminating a life insurance contract you only receive saving portion of your policy along with accrued bonuses.

Monday, 4 July 2016

FAQs on Surrendering a Life Insurance Policy

Insurance is a strategic way to protect ourselves financially against unforeseen events. Modern insurance products are tailored to help an individual to achieve his/her future financial goal along with insurance protection. Usually, we buy life insurance policies for longer periods say 15-20 yrs and there are some probabilities that insured person might be unable to pay the premiums or he/she might feel that current insurance policy does not meet with his/her insurance requirements. In such scenarios, policyholder may think to surrender existing insurance policy and replace it with a new one; that meets with his/her budget and future needs. In this post, we’ll be discussing on pros and cons of surrendering a Life Insurance policy and questions related to it.

Sunday, 3 July 2016

Pros and Cons of Surrendering a Life Insurance Policy

Insurance plays a vital role in an individual’s life. It helps an individual to achieve his/her future financial goals and simultaneously it protects his/her loved ones against financial outbreaks upon his/her premature death. Withdrawing an insurance policy before maturity would not be a good decision; however sometimes reluctantly, we need to take such steps under certain circumstances. If you’re going to surrender your policy then in this post we’ve highlighted some pros and cons of surrendering a policy.