Page 4 - Life Insurance Today March 2016

Contents&Focus

Editorial 3  Financial inclusion of all indi-
viduals and all sections of
Pradhan Mantri Jan Dhan Yojana- An Overview 5 population is very vital from
- Dr. D. D. Kulkarni the point of view of ensuring inclusive
growth of national economy. Limited
Concept of probability as applied in Life Insurance access to affordable financial services
such as savings, loans, remittance and
- Anabil Bhattacharya 9 insurance services by the vast major-
ity of the population in the rural areas
Insurance reforms: Time to execute the vision 18 and unorganized sector is believed to
- Jagendra Kumar be acting as a constraint to the growth
momentum in sector like Agriculture,
Group Microsurance Plan 26 primary and Small and Medium Enter-
from IDBI Federal Life Insurance Co. Ltd. prises.

Elite Assure Plan 27  There is a proverb "Head I
from Star Union Di-ichi Life Insurance win Tail I loss" - that indicates
a coin normally used to start
IRDAI Circular 28 a match say, the National Kabaddi
competition that has recently ended
LEGAL 29 or in the T20 World Cup Cricket
matches that are knocking at our
Insurance as an estate planning tool 31 doors,everywhere . Considering a coin
which is symmetrical with regard to
Important Insurance Contacts 33 its two sides, Head & Tail, when it is
tossed, it may turn up either Head or
Statistics 34 Tail. Any one captain of the two com-
peting teams needs to call for the loss
LIC News 36 to win or loss - simply going by intu-
ition.
Pvt. Life News 38
 The Insurance Regulatory
IRDAI News 40 and Development Authority
Act was passed in India in
Glossary & Poll 42 1999, which allowed the introduc-
tion of private companies to partici-
pate in the insurance market in In-
dia and named the IRDA as the sole
insurance regulatory body to over-
see all insurance-related activity.
The mandate of the IRDA was to
both regulate the insurance indus-
try, and also to help develop the
market.

4 March 2016 Life Insurance Today