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I will never plug for any particular Insurance company because every offering has some advantages; and disadvantages are more likely to be camouflaged. Many companies, outrightly deny Medical insurance to persons having pre existing illnesses. And then there are companies that have a waiting period clause of 3 years to 4 years before they start covering the pre existing conditions. (Mind you, am not talking of Group mediclaim, where an employer takes Health Insurance for his / her employees - in those cases, pre existing illnesses are covered from Day 1 in almost all the cases).Since, I was with SBI General Insurance Co. Ltd., let me talk about the Mediclaim Insurance that is made available by SBI General Insurance to Individuals through State Bank of India:The policy is specifically meant for the Savings Bank Account Holders of SBI.Sum Insured has a range from Rs.1.00 Lakh to Rs. 5.00 LakhsNo pre medical check upPremium will be debited through the SB Account.No equivalent of No Claim Bonus.Policy is not portableThere are 3 types of exclusions - (a) One month exclusion in all cases of hospitalization due to diseases. This exclusion does not apply for hosptialization due to accidents. (b) 1 year exclusion for about 21 odd specific diseases. (c) 4 Year exclusion for pre-existing illnesses. Once the 4 year period lapses, then the Insured is covered against all diseases including pre-existing ones.Hospitilization of 24 hours is a must except for 142 specific ailments.From what I know, this is one of the more transparent and clearly elucidated policies. Am given to understand that many companies, have a provision especially in respect of pre-existing illnesses. If the Insured has to be treated / consulted or hospitalized, within the 1st 4 years for any pre-existing illness, then from that date, the 4 year exclusions stands EXTENDED for another 4 years. So to say, if at the end of 3 years, a person has to go for treatment of a pre existing illness, then from the time of treatment, the 4 year exclusion again starts - resulting in a total of 7 years for pre existing illness.I would advise you to do not take a decision based on pricing only. A person takes, especially Medical Insurance, because he / she requires an assurance that a major medical expense will be taken care of by the Insurance Company. So check these points before finalizing health Insurance.Should you have any more queries, do let know !!

source : LIC AAO vs Bank PO: Which to Choose| Salary Profile Promotions Working hours - IBPS SBI RBI RRB SSC UPSC Recruitment Sarkari Naukri Govt. jobsLIC AAO VS BANK POWhich is the better career option among the two: Insurance or Banking? The fuel never runs out from this topic and its always up for debate.Banks prompts people for loans and deposits whereas LIC promotes Life Insurance, with the motto of ‘Jeevan ke sath bhi, bad bhi’. meaning, its for your lifetime and even years after that. Previously the recruitment processes for both the organisations were different but now LIC, which was established in the year 1956, has started getting on banks recruitment’s turf.So Fundamentally the two jobs are different. But their examinations have striking similarities viz a viz paper pattern, difficulty level, syllabus etc. This has enabled the large exodus of banking aspirants to insurance sectors.Now take a closer look at both the profiles:LIC AAO vs Bank PO #1: Job ProfileLIC AAO: Job ProfileAs an LIC AAO you are required to do administrative work, this would include the followingFormulating new schemes, inspecting policiesManaging and filing claims, client interactionsCoordinating with other departments, provide assistancePerform any work specified by department head or administrative Officer.Bank PO: Job ProfileAs a Bank PO you are expected to:Provide services to customersEnhance business of the bankHandle cash activities at the bankManage Clearance of PaymentsManage accounts of customersOfficial communicationLIC AAO vs Bank PO #2: Work PressureWork Pressure:LIC AAO is a lower level managerial post. After joining you are allotted one/several department and the onus for getting the work done lies on your shoulder. You are taught human resource management, finance, project planning and execution. Scope of work includes underwriting, policy servicing, Marketing, IT, Actuarial, Investment, Audit, etc. One can be deputed to LIC HFL, Nomura, LIC cards, GIC, III, etc. It is a continuous learning curve.Bank PO’s work includes General Banking, Administrative Task, or any other task bestowed by the senior management from time to time. As a Bank PO you will undergo rigorous training to understand the nitty-gritties of Banking and trained for accounting, marketing, investment, billing, finance, human resources, forex, agriculture banking,general banking.Work pressure wise the only differentiating factor is Customer Engagement. As a PO you have to interact/bring in new customers, however as an LIC AAO you are not expected to do that.LIC AAO vs Bank PO #3: Working hoursLIC follows a 5 day work week pattern, enabling you to party/utilize the weekend for productive tasks.Banks have recently started a new policy according to which, 2nd and 4th Saturdays of the month are declared holidays. This means you miss out on two free holidays in a month and 24 holidays in a year. This is a huge difference when compared on an annual basis, you get close to a month off while working for LIC as compared to Banks.LIC AAO vs Bank PO #4: TransfersBoth AAO and PO are public sector jobs, making transfers a necessary evil in this comparison.The transfers mostly take place every 2-5 http://years.In both Organisations, transfer is on the basis if seniority/promotion.In LIC, some preference is given to Female employees for transfers.The plus point with LIC AAO is that most LIC branches are in city as compared to bank (which are also located in rural areas). So if you are an LIC AAO, you will spent most of your time in cities with a decent lifestyle.LIC AAO vs Bank PO #5: SalaryAs a PO in govt bank you are entitled to receive Rs.34 – 38,000/ month while as an LIC AAO you will receive Rs.33 – 35,000/ monthThe LIC AAO salary is under revision after the govt agreed for 15% hike. So after the revision is implemented, the take home salary of LIC AAO will increase to approx Rs.42 – 45,000/ month.But the salary negotiations for banks & LIC happen once in every 5 years, unlike in banks.LIC AAO vs Bank PO #6: Perks and BenefitsLIC AAO provides the following benefits:Defined Contributory PensionSpecial Allowance for passing Actuarial ExaminationGratuityLTC,Cash Medical BenefitGroup MediclaimGroup Personal Accident InsuranceGroup InsuranceVehicle Loan (2-wheeler/4-wheeler) as per rules.Banks provide the following perks:Contribution Pension Scheme/New Pension SchemeMedical Aid for self (100%) and for family (75%)LTCHome Travel Concession/ Leave Fare ConcessionConcessional interest rates for Housing/Car/Personal LoansSo , as per this criteria, both the posts are approximately equal.LIC AAO vs Bank PO #7: Future GrowthPromotions in Banks happen every 2-3 years in the following scale:Bank POAssistant ManagerBranch ManagerAGMGMPromotions in LIC are a hard thing to come by, since it takes at least 8 years to become eligible for promotion. The scale is:LIC AAOADMDMZMPromotion in banks are faster as the Banking Policies ensure a steady procedure for promoting a probationary officer at regular time period.On the other hand the Insurance Sector follows a non-proactive promotion policy.So definitely, future wise , Bank POs have a better prospect than LIC AAO.LIC AAO vs Bank PO #8: Final VerdictThus both have their own pros and cons. If you look from salary and personal life and work angle, it is certainly LIC AAO which scores more but in terms of promotions, it is Bank PO which is much better than LIC AAO. Here’s a list of Pros and Cons of both LIC AAO and Bank PO.LIC AAOPros5 Day Work WeekLimited WorkloadUrban PostingsGood work life balanceZero Customer EngagementBetter IT infrastructureConsLow and long promotion cycles.Less exposure to market conditions.Hence less chances of personal growth.Lower salary than Bank POBank POProsHigh promotion chancesLow Transfer cycleOverall exposureBetter SalaryLower loan ratesConsRural Postings24 Less holidays in an year.Customer Dealings.GOOD LUCK !

A person spared a considerable amount from his moderate salary each month in order to pay premiums for his insurance policy.Given that he is the only breadwinner in the family, he considered buying a life insurance policy with a good sum assured so that his family is financially safe if something unfortunate happens to him. One day, something distressing happens and the breadwinner is no more.After much effort and emotional turmoil, the family begins to recoup. They recollect that they have an insurance policy that should give them a good amount to count on. They approach the insurance company but it turned out that their claim paying process is not much cordial.This made the family of the departed do a hundred rounds of insurance company’s office only to get a meagre part of their dues. Given their poor emotional state, the entire phase for the family became more than awful.Not getting the claim, getting it in parts or after so much exertion defeats the entire purpose getting the insurance. Being unable to realize the benefits of an insurance is worse than not having an insurance at all.Therefore, choosing the best insurance companies in India for your insurance needs is as important as getting an insurance policy. Otherwise, you bear the loss of premiums paid plus the non-payment of sum assured acts as the cherry on top. And this holds equally true for all types of insurances including life, health, travel, automobile, property and all others.One can buy insurance for anything and everything- life, medical expenses, personal vehicle, commercial vehicle, property, mobile phone, laptop, other electronics, furniture, stock of raw material and/or finished products in a factory or a warehouse.Technically, insurance is of two types, life and general. Life of a person can be insured by a life insurance policy and to get everything else insured, there are general insurance policies.However, people’s needs of types of insurance are mostly restricted to life insurance and general insurance of health and vehicles.To save you and your near ones from any kind of hassles resulting from buying an insurance policy from a company that cannot be trusted for your insurance needs, we have assessed all the prominent players in the Indian market. Having done that, we have arrived at the list of best insurance brokers in India after taking into consideration the important factors such as market reputation, number of policies sold, total volume of business, claim settlement ratio and customer satisfaction.Here is a comprehensive list of top insurance brokers in India offering best plans and services in three categories- Life, Health and General.Top 10 Life Insurance Companies in IndiaWhether one is an earning member of the family or not, life insurance is something everyone must possess, that too from an established and popular life insurance company.At present, there are 24 life insurance brokers in India with only LIC of India being the government undertaking and other 23 are either privately owned or joint ventures between two or more private companies (national and/or international) or between private companies and public sector undertakings.Here are the top ten life insurance companies of India:1. Life Insurance Corporation of India (LIC)LIC is the oldest and most trusted brand amongst the best life insurance companies in India. Established in 1956, this is a state-owned enterprise which offers a huge and diverse variety of life insurance products such as endowment plans, money back plans, term assurance plans, pension plans, unit-linked plans, children plans, group schemes, special plans and many more. The company is a favoured choice amongst millions of Indians also for its best claim settlement ratio of over 98%.2. ICICI Prudential Life InsuranceThe first private player in the insurance sector of India, ICICI Prudential has a good popularity amongst its clients. The company offers an array of policies to suit all kinds of needs of insurers and has a good claim settlement ratio of over 96%. ICICI Prudential Wealth Builder II has been its most appreciated life insurance product during previous financial year.3. SBI Life InsuranceA joint venture between State Bank of India, the largest bank of our country and BNP Paribas, a France-based Banking and Financial Services Company is the largest in private segment and third most dependable insurance company of India. Offering a diverse variety of life insurance products, its customer service mechanism is one of the strongest. The claim settlement ratio of more than 95% is quite impressive. Two plans namely ‘SBI Life Saral Pension’ and ‘SBI Life Shubh Nivesh’ are the most sought-after plans offered by the company.4. HDFC Standard Life InsuranceThe company stands third in the list of the top private insurance companies in India with regards to total volume of business. HDFC Click2 Invest and HDFC Click2 Protect Plus are the two remarkable and most demanded life insurance products of HDFC Standard Life Insurance. It is best known for its healthy claim settlement ratio and percentage of customer grievances resolved. Also, marketing its products using the HDFC Bank channel, this company has its reach in about 1000 towns and cities of India.5. Max Life InsuranceRecognized for solving all of its customer grievances (yes! 100% of them), Max Life Insurance was also awarded for settling most claims in the year 2015. Overall, the claim settlement ratio is close to 97%, the best among all private insurance brokers in India. It reaches its customer base through its network of more than 200 branches, agents and insurance and bancassurance partners. The most popular of all the plans by Max Life Insurance is the term plan under which it offers Rs.1 crore life cover at Rs.21* per day. (*subject to terms and conditions).6. Bajaj Allianz Life InsuranceThe company lives up to the expectations people have with the name of Bajaj brand by offering a wide range of customization in products and transparency in benefits. The plans of Bajaj Allianz have been conceptualized and composed for all age and income groups. Guided by the principle of customer delight, the insurer manages to resolve more than 99% of its customer complaints and settle 91% of its claims.7. Birla Sun Life InsuranceBacked by globally renowned Aditya Birla Group, Birla Sun Life Insurance has more than 600 branches and an extensive network of banks, brokers and corporate agents marketing its products. The first insurance company to introduce Unit Linked Plans to the insurance sector, it has ever been known for offering the most innovative products to its client base. The maximum maturity age for its plans is 80 years, while for most others it is 65 to 75 years.8. Reliance Nippon Life InsuranceWith a network of more than 800 branches and 1 lakh advisors across the country, Reliance Nippon Life Insurance is another well-known name in the insurance industry of India. The term plan that offers Rs.1cr life cover at Rs.15* per day is quite a unique plan by the company. A claim settlement ratio of around 95% and grievance redressal ratio of close to 99% also deserve a mention.9. Tata AIA Life InsuranceTATA AIA Life Insurance is a joint venture between Tata Group, the unmatched name in the world of business and AIA Group, the largest, independent listed pan-Asia life insurance company in the world. By resolving 100% of its customer grievances and settling more than 96% claims, the company becomes a sought-after name in the list of best life insurance companies in India.10. PNB Metlife India InsurancePunjab National Bank is an established name in the banking industry of India. Metlife, on the other hand is a famed global brand of insurance products. PNB Metlife India Insurance is a joint venture between the two honchos.Showing a growth rate faster than its peers, the company has spread its network to 7,000 locations across the country.The percentage of customer grievances solved is a whopping 99.97 %. The insurer is known for offering cost effective life insurance products.Top 10 Health Insurance Companies in IndiaEnabling you to keep up with the ever-rising costs of healthcare and hospitalization, a health insurance is a must have for young and old alike.With the advent of thousand and one innovative products in the category and gobs of terms and conditions applied by the companies, buying a suitable health insurance has become a tricky thing.So here is the unfailing list of top health insurance companies in India that can be trusted for your medical insurance policy needs.10 Best Sites to Buy SoundCloud Plays, Followers & Likes at Low PricesSoundCloud was launched in the year 2008, as an online audio distribution platform. Today it…20 Top Indian Brands Taking the World By Storm (Must Checkout)Making a brand name popular is no easy feat. It requires a great deal of…MSG Products List with Price: (Organic, Premium & Standard)Saint Gurmeet Ram Rahim Singh Ji Insan, who is also popular as the Messenger of…1. Max Bupa Health InsuranceA standalone health insurance company, Max Bupa has plans to offer for individuals, couples, family and even extended family with up to 14 members. This is the very factor that led to the steady popularity of this health insurer. Enabling cashless treatment in more than 3500 network hospitals across the country, it offers lifetime renewal for its policies.2. Apollo Munich Health Insurance Company LimitedPermitting cashless treatment in its wide network of more than 4000 hospitals across the country, Apollo Munich is the industry leader in introducing innovations such as portability benefits and lifetime renewal of policies. Its policies also entail multiplier benefits in which sum assured automatically increases by 50% in the year following a claim-free year.3. Star Health and Allied Insurance CompanyAccredited with a number of accolades in the year 2014 and 2015, Star Health and Allied Insurance Company is one of the most trusted brands in the list of best health insurance companies in India. The company has a network of over 7000 hospitals for cashless and reimbursable treatment. Moreover, instead of depending on a third party for claim settlements, this company does it through an in-house settlement department.4. ICICI Lombard General Insurance Company LimitedOffering a better claim ratio than its peers, ICICI Lombard General Insurance is another reliable name in health insurance segment. Insurers can even avail 2 free health check-ups every year. It has tie-ups with 4000+ hospitals all over India and the policies have no sub-limits for room rent. Lifelong renewability, daily cash allowance for hospital expenses and convalescence benefits are some other advantages.5. Religare Health Insurance Company LimitedSpecializing in health insurances, Religare Health Insurance Company offers a huge variety when it comes to choices of plans and their customization. Insurers can avail free health check-up once in a year and cashless and/or reimbursable treatment across the world at the company’s network of hospitals. No Claim Bonuses can be availed up to 150 %, depending upon the policy terms.6. Cigna TTK Health Insurance Company LimitedLaunched in 2014, the company is a joint venture between India-based TTK Group and Cigna Corporation, global health services leader based in U.S.A. Relatively new to the industry, the company has swiftly gained a good reputation as one of the best health insurance companies in India. The standalone benefits that customers of Cigna TTK enjoy are expense cover of 60 days prior to hospitalization and 90 days post hospitalization, cover for critical illness and worldwide emergency treatment, and a network of over 4000 hospitals.7. Bajaj Allianz General Insurance Company LimitedOver the years, Bajaj Allianz has proved itself as a favored choice amongst health insurance buyers by offering world-class products and efficient after-sales and customer support mechanism. The company is also known for affordable insurance plans and a robust claim-settlement ratio. The insurance provider has extensively networked with more than 5000 hospitals across the country. One of the best additional features it allows is personal accident cover to its health insurance buyers.8. New India Assurance Company LimitedAn enterprise completely owned by the government of India, the company is operational since 1919 and is most known for its medi-claim policies. The company has a great complaint management structure, advanced technology, powerful national and international presence, and an assortment of cost-efficient insurance products for individuals, couples as well as families to suit everyone’s needs.9. Oriental Insurance Company LimitedA government-owned general insurance company, Oriental Insurance is a prominent name among public sector insurance companies of India. One can buy a health insurance policy up to the age of 60 years without having to undergo a medical examination. The options of Life Hardship Survival and Personal Accident Cover can be added to its plans to avail more benefit.10. National Insurance Company LimitedMore than a century old government-owned company, National Insurance Company is most famed for its Varishtha Medi-claim plan, a health insurance policy for senior citizens. The plans by the company are flexible, comprehensive and economical. This enterprise is one of the health insurance providers that have the widest network of more than 6000 hospitals in over 1500 locations across the country.Top Vehicle Insurance Companies in IndiaIn today’s fast-paced life, it is next to impossible to draw breath without owning a vehicle. Having a vehicle gives you comfort and getting it insured gives you a lot more than peace of mind.In fact, as per Indian Motor Act, it is mandatory for any motor vehicle owner in India to get his/her vehicle insured. But while spending money to get your vehicle insured, doing so for the right plan from a reliable insurance provider would be an intelligent decision.Here is the list of top 5 vehicle insurance brokers that offer most comprehensive, flexible and cost-effective plans, take care to serve their customers well, have a strong claim settlement ratio and a good presence across the country.1. National Insurance Company LimitedHaving its ambit in rural and urban areas of the country alike, National Insurance Company is the top choice among best vehicle insurance companies of India. One can get a two-wheeler, four-wheeler or even a commercial vehicle insured conveniently by the company at economical premiums and for an expansive range of possibilities and mishaps.2. ICICI Lombard General Insurance CompanyThe largest private player in the general insurance market, ICICI Lombard offers zero depreciation for up to two policy covers. Its dedicated customer support mechanism has helped the company win the accolade of most customer responsive insurance company. Also, one can avail doorstep surveyor facility and request for cashless settlement at more than 29,000 garages in the country. Other conveniences offered by the insurer include towing assistance, facility of purchasing EMIs online and a digitally signed policy.3. TATA AIG General Insurance CompanyAll thanks to the company’s easy claim settlement procedure, and power distribution channels, TATA AIG has successfully captured the market of motor insurance in India to a good extent, despite being a younger player in the industry. The company offers noteworthy services of warranty on repairs, free car pick-up, quick claim settlement, cashless settlement at network garages and innovative add-ons.4. The Oriental Insurance Company LimitedWinner of the most worthy awards in the industry, the Oriental Insurance Company is one the most dependable government-owned general insurance company. The idea of associating with a government company renders an altogether different kind of relief to the mind. Living up to the expectations of its client base, the company serves them from over 1800 offices in the country and is best known for its prompt and hassle-free claim settlement and useful add-ons. Insurers buying their policy can also avail benefits of emergency services at selected outlets free of cost.5. United India Insurance CompanyAnother most trustworthy government player in the list of top motor insurance companies in India, United India Insurance Company has been in the business of general insurance for close to eight decades now. It has grown by leaps and bounds, especially since nationalization. Insurers can make use of the ingenious and easy mobile app to keep a track of their policy. Another good part of associating with this government company is its extensive reach across the country, in rural and urban areas alike.The lists of top ten life insurance, health insurance and vehicle insurance companies in India given above should be of great help if you are planning to buy one or more of these insurances but are not sure of which insurance company to rely on. However, the insurance market in India is extremely dynamic and competitive in which positions of service providers keep changing.Therefore, to be able to make a wise decision for your insurance, you must consider some key factors before trusting any private or government insurance companies India for your coverage needs. The most important of these criteria are:The company should be offering the plans that suit your requirements and aspirations.The premiums should be competitive.The company must have a good market rating, that is to say, it should be one of the top insurance companies in India.Experience and expertise are always a great plus.Is the claim paying process friendly enough? Their claim refusal record also deserves a check.Is their financial strength good enough to handle claims?Is there a local office nearby, if proximity is a concern for you?What are the types of insurances you need to buy?Is there any other company that is offering an additional benefit that you would like to avail?Are there any terms and conditions on purchase or renewal of policy that could be of particular concern to you and your near ones?After taking under advisement all of these factors, you can also go for comparing a few plans on one of the many online portals dedicated to the purpose such as Policybazaar, Policyx, Comparepolicy, Myinsuranceclub or any other.Once you have done all of these things before coming into agreement with an insurance company, you can be confident that you have nailed the herculean task of trusting the best company for your insurance needs.Subscribe to updatesNEXT15 Profitable Business Ideas under 50 Lakhs in India for 2019 »PREVIOUS« Top 10 Super Value Tripods You Can Buy Between $200-$300SHAREPUBLISHED BYGuruansh Chanana2 YEARS AGO