2006-09-11 03:24:50 · 6 answers · asked by Indranath D 1 in Business & Finance ➔ Insurance
Not as much as in america
2006-09-11 09:12:32 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Hi, Indranath. Your question is unable to give a clear indication what exactly you want to know. It should be either 'how safe are insurance companies in India?' or 'how safe is our money invested in insurance companies in India?' With regard to the first, the insurance business in India is operated according to the provisions of Insurance Act, 1938 and Insurance Regulatory and Development Authority Act, 1999. All the insurance organiza-tions in India are controlled by IRDA. The second thing is whether the money we have invested in such insurance companies is safe or not. Our money would be safe without any doubt. The money what we pay in the form of premia according to the terms and conditions would be definitely returned along with the benefits in accordance with the agreement between us and insurance company. So insurance companies are safe and our money is safe too.
2006-09-11 04:05:11 · answer #2 · answered by SRIRANGAM G 4 · 0⤊ 0⤋
Indarnath, all public and private, life and general insurance companies guided by Insurance Regulatory and Development Authority. Norms are equal to all companies. IRDA watches the transactions of insurance companies. Come to to safe side, all companies have reinsurance facility if risk is more than its capacity. So no need to bother about financial condition of insurance company.
2006-09-11 20:40:50 · answer #3 · answered by chindu 2 · 0⤊ 0⤋
first of all, I don't even like insurance companies in the US, how can you know anything about one in India? I bet most of them are US or UK companies anyway. With costs going up due to natural disasters recently such as the Tsunami and Katrina I would stay way off any investment opportunity in the insurance business. There are over a billion people in India, lots of them trying to get your US dollars because they are worth so much there, big trap... don't fall into it.
2006-09-11 06:23:27 · answer #4 · answered by searing 3 · 0⤊ 0⤋
All the insurance companies are safe in India. The IRDA and other regulations are here..You can start or take shares in that companies. But don't seek protection or cover from them. Their policy conditions in point eight font will hide all the trues that we want from our eyes. you will not get the claim amount unless it is a death or maturity claim.Claims with in three years of commencement of the policy , Critical illness rider benefitis , accident, non life claims are so hard to settle.
2006-09-11 04:56:52 · answer #5 · answered by satheesh 4 · 0⤊ 0⤋
Insurance company in india is safe . and so their is a race for the same. as a number of policies in india never matures and this is the huge gain for this company. they can pay any claim from these policies which colapsed before three yrs.
2006-09-13 04:22:41 · answer #6 · answered by Ganesh Thakur 2 · 0⤊ 0⤋