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Posts Tagged ‘insurance company’

Entered the competition between insurance companies and agents, a critical stage of the market especially with the price break and the entry of banks on the line of insurance through its partnership with the insurance companies, And requiring its customers to dealers and importers through the process of opening letters of credit and banking facilities with a specific insurance company, which led to confusion and concern, the insurance companies that do not have partnerships with banks, and the loss of a large part of market shares.

Wrong practices
Hisham Al-Halabi, a member of the Governing Council of the Federation of Insurance Agents and the Under-organization of the Syrian Insurance pointed to wrong practices exercised by some private banks by abolishing the role of the insurance agent, and pressure on the importer of the Syrian version of contract of marine insurance directly by the managers of banks (credit and insurance policies) so that it ends the role of insurance agent to meet personal benefits or contracts with some private insurance companies. He revealed that some private insurance companies provide discounts illogical by more than 50% of the minimum fees (shipping) and through its employees are not allowed to do so by the Insurance Supervision Authority, shows that the Syrian General Organization for Insurance lost 90% of customers being committed to laws of body and Atmars errors mentioned. And demanded the cancellation of compulsory insurance for maritime transport and leave it practiced by the merchant on a voluntary basis or re-consider the feasibility of restricting the compulsory insurance of the Syrian General Organization for securing the fact that few of the right (ie from the right of the State) in respect of insurance compulsory for cars and insurance mandatory for Maritime Transport (c) The organization issued insurance contracts through the Federation of Insurance Agents in Syria in order to prevent the brokers, hackers, and rehabilitation and prestige of the Union of Insurance Agents and founder of Insurance in Syria, which has considered the existence of hundreds who were living in it. Read the rest of this entry »

This is where most people have a bad experience with pensions. Choose a pension are not eligible or do not understand and make things even. There are 4 types of annuities: fixed rates, variable and direct.

- Correct / Traditional Annuity: This type of annuity is virtually identical to the CD, which is sure to win X amount of percentage, for a given period. After the deadline, the annual rate of pension received from the insurance company. In most cases the rate of inflation (consumer price index). The main difference compared to the CD, the guaranteed income for life and deferred tax.

- Indexed Annuity: This product is unique in that you in connection with a market value of securities, including (in most cases, the S & P) and have a guaranteed minimum pension. For example, you have a guaranteed minimum return of 1.5%. When the market crashed (as in 2008 and most people lost half of his retirement), you will earn a minimum of 1.5%. indexed annuities, to a certain limit. If you put a ceiling of 10% and market share gains of 15% or 30%, it gets only 10%. This is known as a possible risk. These benefits are available in options that can be measured from month to month, every year, one point to another (depending on the insurance company and / or you) or selected quarterly. More time generally means faster. Until you get a guaranteed minimum return and the opportunity to participate in some markets, the risk is worth the opportunity for most investors. Read the rest of this entry »

With the interest rate and policy changes, many people began to consider in advance to pay off bank loans, loan repayment ahead of schedule which also France, What are the requirements, the attention to what the problem?
Full prepayment, including advance payments, advance payments and loans to some of the same period, early partial repayment and shorten the term of the loan three cases. Loans the bank can only accept payment from a personal loan repayment on the second, the borrower for early repayment.

Prepayment process (in the Agricultural Bank as an example)
step1 telephone consultation
Want to learn early repayment of the relevant information, we must first call to apply for loans had branches, contact the clerk or a customer apply for credit managers, can apply for advice in advance loans, apply for loans in advance the need for an appointment, determine the time. Every day, some banks are not able to provide consulting services on prepayment.
step2 Reservation
To ensure orderly business operations, most banks require customers to make an appointment in advance, and the time required for each branch, the procedures vary. For example, the Agricultural Bank of China Shanghai Branch demands prepayment for one month in advance, and then each branch of the case according to their workload at a reception on unification process.
step3 formalities
Repayment before, customers need to prepare identity cards and bank had signed loan contracts. Apply early repayment of the procedure is simple and can be within one day after finishing. To the Agricultural Bank, for example, customers in addition to repayment, the only fill in two forms, namely “Agricultural Bank of China Shanghai Branch at the reduced rate for individual housing loans, for approval” and the “Agricultural Bank of China Shanghai branch of individual housing loans reduced rate of agreement. ”
step4 refund Insurance
If customers choose all of prepayment, then pay off the entire loan, the original individual housing loans have an early termination of housing insurance contracts. In accordance with the relevant provisions, the lender can bring the original insurance policies and pay off the loan early proof to the insurance company pay the premium refund. Therefore, lenders, after a loan repayment ahead of schedule after the procedure, do not forget to back the insurance company of their own money. Read the rest of this entry »

Buy mortgage insurance, also produced does not mean peace of mind, insurance companies, the conditions of the mortgage insurance claims to make strictly limited. According to “Shanghai individual housing mortgage insurance policy clause” provides that the following ten cases, the insurance company is not compensable:

1, housing due to faulty design, defective material, poor technology, building settlement and other reasons as well as natural wear and tear, caused by the loss of normal maintenance;

2, before the accident, buyers did not perform “personal housing mortgage contract” agreed the outstanding loan repayment obligations, the amount of principal and interest;

3, war, similar to the conduct of war, military operations, armed conflict, strikes, riots, civil commotion, causing the death or loss of home buyers repayment ability;

4, nuclear radiation or contamination caused by the death or loss of purchase repayment ability;

5, administrative actions or enforcement actions, resulting in the death or loss of home buyers repayment ability;

6, due to earthquakes or earthquake causes death or loss caused buyers repayment ability;

7, for buyers or their family members by the intentional act, resulting in the death or loss of home buyers repayment ability;

8 buyers lost due to illness or death of repayment ability;

9, due to suicide, self-injury, excessive drinking, drug abuse, criminal acts caused the death or loss of home buyers repayment ability;

10 buyers from unauthorized changing the structure of.

In addition, insurance companies, also provides buyers must fulfill the following obligations, or when the accident came, the insurance company will not be compensated.

1, insurance, the homeowners insurance company shall truthfully inform the housing situation.

2, when signing the insurance contract paid off all the premiums.

3, shall comply with state fire, safety requirements, maintenance of housing security.

4, such as content as specified by the policy changed, the insurer shall promptly apply to the marking procedures.

5, such as loss, home buyers should be actively rescue, so to reduce the losses to a minimum, while protecting the scene and immediately notify the insurance company to help survey.

Also, according to insurance terms, only repay the loan principal repayment unexpected when people can receive compensation. The parameters involved in loan-repayment who have accidents and insurance companies will not accept the claims of.