Insurance Institute of India

The Insurance Institute of India is an insurance education company established in 1955 for the purpose of imparting insurance education to persons engaged or interested in insurance. The institute conducts examinations at various levels. It is the only professional institute in India devoted solely to insurance-related education.Certificates and Diplomas are awarded by the institute to successful candidates. These are recognised by the Government of India, the Insurance Regulatory and Development Authority (IRDA) and other insurers in India and abroad. These qualifications are recognised by similar institutes in the UK, Canada and the USA, for grant of exemption from some of their papers. The Sri Lanka Insurance Institute and the Royal Insurance Corporation of Bhutan are also affiliated to the institute.

Applicants can specialise in life insurance or general insurance/non-life branch. Examinations are held for several awards:

1. Certificate in insurance salesmanship (CIS)
2. Licenciate, Associate, Fellowship.

13 more companies to venture into insurance market

At a time when the entire insurance sector is plagued by unethical competition, thirteen more insurance companies are set to make their foray into the country’s insurance market, reports Abhiyan Weekly.The Insurance Board (IB) is carrying out necessary homework to issue licenses to these new players to commence their services.Of the 13 insurance companies which are shortly coming into operation, eight are life insurance companies whereas the remaining five will provide non-life insurance service, the report said.It is learnt that the people who have invested in these new companies have different background ranging from ordinary citizens to even Non-Resident Nepalese (NRN)’s.The Insurance Act entitles the IB to issue operating licenses to non-life insurance companies directly. However, at the same time, it is mandatory for the board to get prior approval from the Finance Ministry to issue licenses to life insurance companies.With the formal entry of these new insurance companies, the total number of insurance companies in the country will stand at 38.Most of the new insurance companies are said to have made necessary arrangements regarding logistics and manpower with the hope of coming into operation at the earliest.“However, they are now complaining the lethargy being displayed by the board to issue operating licenses promptly,’’ the political-economic weekly quoted a source as saying

Insurance business statistics analyzed

1.Introduction to the Insurance Industry
2.Aging Populations Create Challenges and Opportunities for the Insurance Industry
3.Selling Insurance to Consumers in Discount Stores May Grow
4.Sophisticated Risk Management and Prevention Programs Lead to Lower Losses
5.Independent Agencies Continue to Dominate Commercial Insurance, but Play a Lesser Role in Personal Lines
6.Insurance Direct Selling and E-Commerce Grow
7.Technology Drives Efficiencies in Back Office Tasks, Underwriting, Agency Networks and Customer Service
8.Homeowner’s Insurance Passes More Risk to the Policy Holders and Relies on Sophisticated Risk Analysis Tools to Set Rates
9.Insurance Industry Reform May Be on the Horizon
10.Insurance Industry Mergers and Acquisitions Continue
11.No End in Sight to the Growth of Specialized Insurance Lines
12.Variable Annuity Accounts Top $1.4 Trillion in the U.S., While Costs and Sales Practices are Scrutinized
13.Major U.S., Japanese and European Insurance Firms See Vast Promise in the Chinese Market
14.Insurers Target Developing Markets
15.Continued Rise in Health Care Costs
16.Employers Push Health Care Costs onto Employees
17.Health Savings Accounts and Health Reimbursement Accounts Put Responsibility on the Patient
18.Malpractice Suits Are Blamed for Rising Health Care Costs/Tort Reform Is Capping Awards for Damages
19.Medicare Changes Include Drug Benefits for Seniors/Medicare Advantage Offers Private Fee for Service Plans
20.Hedge Funds Enter the Reinsurance Field in a Big Way
21.Credit Default Swaps (CDS) Soar into the Trillions of Dollars

Tax job opportunities for the young generation

The generation next has a big interest inthe commerce field. Tax industry is a part of the large commerce field. The tax industry is also big compared to other fields in the commerce. The basic of tax is that every people should pay some percent of their money to the government so that government can gather money and successfully fulfill the needs of the people. With the increase in the business, the opportunity of tax jobs has risen all over the world. The tax industry needs professionals that are talented and can work for the industry and can earn profit for their companies. The tax industry wants fresh employees for the future and they can replace the retiring old aged people.If you are a commerce student and looking for a carrier in the industry of tax, there are thousands of opportunities waiting for you. This article explores the current situation of the tax industry and the opportunities that are for the young talent.Current situation:The tax market has many employees that are above the age of 40. The aged people have a limit to work and so they can not pay more time to the work as compared to the young employees. The efficiency of the aged employees is also low. The growing market needs the people who can work efficiently and earn more money for the tax organizations

life and critical illness insurance

In the Insurance fixed term life cover with critical IllnessThis is a protection policy that will pay out a cash lump sum if you die or are diagnosed with a critical illness that meets our policy definition within a set period of time known as the policy term. The amount of cover remains fixed throughout the policy term.Mortgage life cover with critical illnessUnlike the Fixed Term policy, this is a decreasing protection policy where the level of cover reduces each year during the term of the policy roughly in line with the outstanding balance on a standard repayment mortgage – hence it is frequently referred to as “mortgage protection”.Provided the initial sum insured and term are the same as the mortgage at the outset it means that in the event of death or diagnosis of a critical illness that meets our policy definition the policy should be sufficient to repay the mortgage provided interest rates have not risen above 12% p.a.

Your Life Insurance with unbelievably low premiums

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life insurance quotes

Life insurance policies can be very valuable for the young as well as adults. Many companies provide life insurance for babies during their first few months of life. These policies can be a great asset to them as they grow up. If the unthinkable should happen and a child passes away, the family has enough money to pay for medical expenses and final expenses, provided they are insured. No one believes or imagines that it can happen to their family. But it does, tragically. Funerals are expensive, regardless the age of the deceased. Dealing with a terrible loss creates enough of a burden on a family without adding the financial aspects. Insurance policies for babies and small children can be as little as a few dollars a month and make a world of difference if a tragedy occurs.The upside of buying a life insurance policy for your children or grandchildren is that they have coverage as they grow. If nothing terrible happens (and most of us never have to face such an awful event), the child grows up.A life insurance policy bought for a baby will mature as the child grows. By the time the child is ready to go out into the world they have a policy to protect them as they attend college, trade school, or enter the work force. If they get married and start a family, there is a small, automatic protection already in place to provide for the spouse and children. With most policies that are purchased when one is very young, the same company is willing and able to add other policies as the child grows into adulthood. The rates can be very affordable for a young family. Special rates apply for long time customers, regardless who paid the premiums. So, grandparents, parents, aunts, uncles or godparents can start insurance programs that will follow the child all the way into adulthood. This will allow for more benefits at reduced rates when they need them the most.