pls give an advise...?

Question

I have joined for an Insurance in ING Vysya Bank before 6 Months.Its duration for 16 years.
Now I feel afraid because it is a pvt Company.Anyone know about the Comapny?
Is there any need to afraid?pls advise me

I am an Indian and the Insurance company also in India

Answer 1

Hi,

Nowadays there are various private organisations like Cholamandalam, Birla Sunlife, Tata AIG, Max Newyork which are offering insurance. and since the terms are more better and scientifc and not traditional like the public insurance sectors, all these organisations are doing pretty well. Above all I have a savings, FD, current a/c and a locker with ING and i think its pretty safe to do business with them. There should be no problem in dealing with them. Above all even they are private organisations but still are governed by IRDA.

Answer 2

Ammu,

I think you are afraid for pvt Company, you should not afraid as they are private.

But at other side . . . . pvt Company in India from 6 year but they have not earn a single rupee profit til now

The private life insurance industry is just over five years old in India. Not a single company has earned a rupee of profit out of this business and no company is talking about a stock market listing before the mandatory period of 10 years from date of incorporation.

You can read full article at below link

http://economictimes.indiatimes.com/articleshow/1468193.cms

&
Can Contact me at jayyash [e-mail]

Answer 3

If the insurance company has been in business for 16 years, than it should be alright. If you are in doubt, ask for the financial documents.

Cheers, The Happy Canadian

Answer 4

I have seen commercials for ING, so I'm assuming it is prety safe for the most part. These aren't late night commercials that are just advertisement either. I think you're ok.