Page 3 - Life Insurance Today February 2018

Vol. XIII No. 11 February 2018
ISSN - 0973-4813
Editor-in-Chief Editorial
Ram Gopal Agarwala
B.Com., L.L.B., F.C.A.
Editor
CA Rakesh Agarwal RDAI Regulator Mr. Vijayan is much concerned about
M.Com. (BIM), F.C.A., DISA, L.L.B., the Digital Era in the Insurance Sector. Digital Era only
F.I.I.I., P.G.J.M.C., M.B.A., Ph.D can cut the operational cost in the Insurance Industry
Associate Editor and bring efficiency for underwriting as well as claim
Shyam Agarwal
M.Com.(BIM), A.C.A., DISA, F.I.I.I., P.G.J.M.C. processing.
Resident Editor The Budget was presented in parliament on 1st
Dr. Abhijeet K. Chattoraj, Noida
Dr. B. K. Jha, Sultanpur February, 2018 by Finance Minister Arun Jaitely. Two
K. L. Madhok, New Delhi major decision were taken in the budget concerning the
Shaik Gulam Afzal Biya Bani, Saudi Arabia insurance sector. First to merge National Insurance Co.
R. Venugopal, Bangalore
Correspondence Address Ltd., United India Insurance Co. Ltd. and Oriental
25/1, Baranashi Ghosh Street, Kolkata - 700 007, India Insurance Co. Ltd. into one single entity. This is a major
Phone : 033-2269 6035 / 4007 8428 policy decision which will impact the general insurance
E-mail : insurance.kolkata@gmail.com industry in India. The merger will help the companies to
Website : www.sashipublications.com
Portal: www.bimabazaar.com consolidate, the risk bearing capacity will increase,
Registered Office internal competition will reduce, reduction in
31/1, Sadananda Road, P.S. Kalighat, administrative expenses, marketing will improve and the
Kolkata - 700 026, India
Customer Help Line company would be in a better position to compete with
For non receipts/any other query please contact private companies.
E-mail : sashipublications@yahoo.com
Phone : 033-4007 8378 / 2218 4184 Second major decision is to launch a health protection
Mechanical Details plans for 10 crore people for a coverage of Rs.5 lakhs
Oversall size : 27.5 x 21.5 cms.
Print area : 24.5 x 18.5 cms which will cover around 50 crore population. The
Rate of Subscription details of scheme would be worked out in due course.
Amount You By Regd. Surprise
Pay Post gift The main concern would what would be the premium,
who will launch the schemes, government contribution,
Scheme Period
LIT - 1 1 Year 540 500 800 ---- servicing of claims etc. If the schemes are handled by
LIT - 3 3 Years 1,620 1,300 2,200 ---- PSU general insurers it may effect their balance sheet as
LIT - 5 5 Years 2,700 2,100 3,600 Yes
Bulk Subscription health insurance is a loss making portfolio and handling
LIT - 10 copies 1 Year 5,400 4,320 Free Yes the scheme at such huge scale may be quite
LIT - 25 copies 1 Year 13,500 10,125 Free Yes
Single Copy `` `` ` 45/- challenging.
All the payment must be made by DD favouring LIFE Budget for fiscal 2018-19 has provided Health Insurance
INSURANCE TODAY payable at Kolkata, India.
Please do not make any cash payment for journal/books to any Premium deduction upto Rs.50000/- for senior citizens
person representing LIFE INSURANCE TODAY and we shall
not be responsible for the cash payments. u/s 80D apart from several other benefits for senior
The contents of this journal are copyright of LIFE citizens.
INSURANCE TODAY whose permission is necessary for
reproduction in whole or in part. The views expressed by There has been no change in tax slabs and deductions
contributors or reviewers in this journal do not necessarily
reflect the opinion of LIFE INSURANCE TODAY and the under 80C. Life Insurers were expecting a increase in
journal can not be held responsible for them. All disputes deduction as life insurance in India is sold primarily to
subject to Kolkata jurisdiction only.
Published by Sushil Kumar Agarwala & Printed by Satyajug get income tax deduction. Any increase in deduction
Employees Co-operative Industrial Society Ltd. 13,Prafulla would have been a big boost to insurance industry.
Sarkar Street, Kolkata - 700 072

Life Insurance Today February 2018 3

Sashi Publications Pvt Ltd Call 8443808873/ 8232083010