2011, year of convinient and cheap Life insurance cover

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2011, year of convinient and cheap Life insurance cover
News from Economic Times:

Life insurance cover became cheaper and more convenient to buy in 2011. The new online term plans launched during the year were 25-30% cheaper than the existing ones and 50-60% less expensive than the most competitively priced offline product. Experts believe that the online mart will only become bigger in 2012.

“The Indian amazon.com is on the horizon. Consumers will find true value for money for any purchase, including insurance, through the Web,” says Sanjay Tripathy, executive vice-president and head of marketing and direct channels, HDFC Life. The company launched its Click2protect online term plan in November, joining the seven others who already offer such plans. Some companies even offer Ulips through the online platform.

There was good news for health insurance buyers as well, with the much-awaited medical policy portability finally…………… continues on Economic Times

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Pakistan’s SLIC eyes Gulf expansion
News from Zawya.com:

By Muzaffar Rizvi

DUBAI — State Life Insurance Corporation of Pakistan, or SLIC, has adopted an aggressive strategy to expand its business in the Gulf region, its top official said.

Pakistan’s leading insurance firm will foray into Bahrain and Qatar next year and further strengthen its position in the UAE, Saudi Arabia and Kuwait.

“We will be entering into Bahrain during the next six months and target Qatar’s life insurance market in the second half to expand our business in the region,” Shahid Aziz Siddiqi, chairman of SLIC, told Khaleej Times in an interview during his recent visit to Dubai.

SLIC was incorporated in November 1972 and engaged in life insurance business. It has more than 70 per cent market share in the country and operates through 26 zones for individual life business and four zones for group life business. The Karachi-based firm has been playing a key role in Gulf insurance mar…………… continues on Zawya.com

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