Page 4 - Life Insurance Today December 2017

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Contents Focus

5 5 5 5 5 he insurance business is affected
Editorial 3 by the churning of policies,

Mis-selling Continues to be Rampant in which means a customer is
Indian Insurance Sector forced by the agent or the sales person-
- Jagendra Kumar 5 nel to surrender his/her existing policy
to take a new policy, which benefits the
A Comparative Study of LIC of India and agent or sales personnel but negatively
ICICI Prudential Life Insurance Company Ltd.: impacts the customer. There have been
With Special Reference to Life Micro Insurance numerous instances of customers being
- Dr. Furquan Uddin 12 mis-sold policies which do not address
their financial needs. The reason why
How can I end up paying less tax? insurance is stumbling in India is be-
- Poornima Venugopalan 17 cause of mis-selling of products and
complex products.
12 12 12 12 12 component of economy and
Super Achiever
from Tata AIA Life Insurance 19 Insurance being an important

Jeevan Mangal Plan - Micro Insurance Product financial system plays a cru-
(UIN: 512N287V01) cial role in the life of people. It does
from Life Insurance Corporation of India 21 not only protect the value of their life
but also contributes in the socio-eco-
Avoid falling prey to mis-selling of Insurance 23 nomic development of the country. So
far as insurance sector in India is con-
cerned, it is lagging behind as the sev-
Regiving life insurance policies 25 enty five percent of the total popula-
tion are still without any insurance
IRDAI Circular 26 cover. The majority of the total popu-
lation i.e. approx sixty eight percent
LEGAL 27 live in the rural areas and their main
occupation is agriculture that gener-
Statistics 32 ates low income and low savings.
17 17 17 17 17 Imagine you've come home
Important Insurance Contacts 35 after a dog day afternoon and

LIC News 36 are keen to refuel your ener-
gies with a well-deserved triple-scoop
ice cream. When you open the freezer,
Private Life News 39
you realize that one of the scoops is
missing because someone else ate it.
IRDAI News 41 You wouldn't feel great, right? This is
essentially what income tax can do to
Glossary & Poll 42 you too.

4 December 2017 Life Insurance Today

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