Online Term Insurance Cheaper By 10%

If you consider insurance, then term insurance is the real insurance. It is the pure insurance plan where you have to pay very less premium and you get covered for a big amount. The best way to buy term plans is online. Term insurance sold online are much cheaper as compared to normal channels such as through agents as insuring companies pass-on the saved cost on distribution and are laden with good features.

Online term plans are 8% to 10% cheaper than those sold through normal channels because there is no mediator between the seller and buyer. Most of the life insurance companies have started customizing term plans particularly planned to be sold online. 

These plans are more and more becoming popular as there is an increase in awareness about the requirement for life insurance. To increase online sales, insurers are giving more benefits to make their plans more appealing to customers.

British Riots to Cost Insuring Companies Dearly

Riots in London and other cities are probably going to cost insuring companies millions of pounds. London was hit by three straight nights of rioting, plundering and arson by anarchists who wrecked havoc in parts of the British capital. On Monday, violence spread out to other cities.

Insurance analysts are forecasting a repair bill amounting to tens of millions of pounds which has to be absorbed by insurance industry. The insuring companies have to pay as 125 year old British law makes the constabulary liable for property damage induced by rioting and plundering.

According to law, police force is responsible for holding law and order and in case they fail, they have to pay for the damage. This would put police finances under pressure. In 2001, Police force filed for the insurance claims after being forced to pay for fixes and repairs following riots in English towns of Bradford, Burnley and Oldham.

Sensex Plunges 316 Points After Global Onslaught

As a reaction to credit agency S&P's disputable decision to cut US's rating, the Sensex on Monday opened acutely lower and crashed nearly 550 points.

But the market in India demonstrated resiliency and proved worthy as one of the best investment addresses of the world and recovered spectacularly. After the early shocks, investors were back in the buying mood. The Sensex recovered about 500 points.

The recovery was also assisted by global financial powerhouse Goldman Sachs’s report that graded India from 'underweight' to 'marketweight'.

As compared to other markets around the world such Nikkei in Japan, Hang Seng in Hong Kong, FTSE in London and Dow Jones in the US, the Sensex and Nifty has fared much better.

Stock Market May See Knee-Jerk Reaction

US market fall can affect the Indian stock market, resulting in illogical, irrational and knee-jerk reactions, when the market will open on Monday, according to industry experts.

According to experts, if stability funds are not in place, then markets will have a knee-jerk reaction, and the downgrade will increase the negative view. L&T Finance Holdings and Tree House Education’s initial public offerings could be affected. 

As per the insiders, although the U.S. government has not altered its treasuries risk weights, the downgrade would push the yields of US treasuries up.

Experts are also criticizing US for raising its debt ceiling. The largest holder of US Treasuries is China with 1.16 trillion dollars and the next is Japan worth $ 912.4 billion. When markets open today, China could be the worst affected.

Credit Score Now Important in India

Your credit score is tells how punctually you make payments of credit cards, loans, utility bills, premiums, rent cheques, etc. 

CIBIL (Credit Information Bureau (India) Limited) collects credit information from banks in very near future will be keeping your credit scores on the base of bill payments also. CIBIL scores will decide your eligibility for loan.

Looking at the importance of credit reports in your financial life, it is time that you should make your credit report work to your vantage.

Survey Shows Indians Willing to Pay More for Term Insurance

In a survey conducted by Swiss Re in India, 80% of respondents are willing to pay more for term life insurance cover.

The study was done in eleven Asia Pacific markets, covering 13,800 users between the age group of twenty and forty. 

The study showed that approximately 78% Indian respondents are planning to purchase health or life insurance products in the coming twelve months.

The survey also found that Indians find Life insurance is not high-priced as is the common perception and Indians can afford to buy it.

It was also found that Indian insurers are more into investment products than protection plans and lack of customized products was another problem.

Insurance penetration in India is very low; it is 5.1%, in which life contributes 4.4% and 0.7% is from non-life.