Tuesday, July 22, 2008

Jessica Biel’s La Conversation Luncheon


Looking pretty in pink, Jessica Biel was spotted leaving La Conversation restaurant in Hollywood following a lunchtime meet-up with a few friends on Monday afternoon (July 21).

The “Powder Blue” babe has been in the headlines for relationship reasons as of late - with Justin Timberlake’s grandmother talking to press about a possible wedding location (even though the two aren’t even engaged… yet).

According to a report from The Sun, JT’s grandma Sadie Bomar inferred that she likes Jessica much more than Justin’s ex-girlfriend Cameron Diaz, saying: “Jessica’s really sweet. She’s his age and isn’t possessive. I think their personalities are a lot alike.”

“I just want them to be happy. Justin should get married in his mother Lynne’s back yard in Tennessee. She has a big yard with beautiful flowers. I think it would be perfect,” she added.

Source: celebrity-gossip.net

Photo Credit: PacificCoastNewsOnline.com

Eva Longoria’s Post-ALMA Outing

Following a morning appearance at the 2008 ALMA Awards Nominees Press Conference, Eva Longoria took a little time for herself with a girls only outing in Los Angeles on Monday afternoon (July 21).

Wearing an Espresso colored, plunging neckline sundress, the Desperate Housewives actress made her way from the Universal Studios backlot conference to Toast for a quick bite to eat.

Following her lunch, Mrs Longoria Parker then ventured off to meet up with some friends - heading over to Blick to purchase a few art supplies, among other things.

As for her morning press conference appearance, Eva will be returning as executive producer and host of the ALMA awards show, which will be taped August 17th at the Pasadena Civic Auditorium, and will include a special presentation to Linda Ronstadt, Shakira, and Narciso Rodriguez. The show will then air on ABC September 12th to kick off Hispanic Heritage Month.

Source: celebrity-gossip.net

Photo Credit: BauerGriffin.com

Nicole Kidman: Back to the Old Routine

It’s hard to believe that just two weeks ago Nicole Kidman and Keith Urban were welcoming their adorable baby daughter Sunday Rose into the world. And yesterday the “Eyes Wide Shut” actress was already getting back to her usual schedule.

Nic was spotted out and about in Nashville, Tennessee Monday morning on her way to do some yoga exercises as a means of easing her way back into her pre-baby routine.

And she looked fit and trim in a blue zip-up jacket overtop a couple of layered t-shirts with black yoga pants and a pair of black flip flops.

As for their new season in life, both Keith and Nicole have told press how enamored they are with their new little girl. Kidman told press, “We are in heaven. We can’t stop staring at her in complete awe. We are feeling incredibly blessed to have been given this precious little angel.”

And in a message to his fans, Urban revealed, “Like any of you who are parents yourselves, we’re experiencing the pure bliss of welcoming her into our lives. We’re all doing superbly well and we continue to be absolutely overwhelmed by the outpouring of love and well wishes we are receiving. I can’t wait for my first show as a father!”

Source: celebrity-gossip.net

Photo Credit: FamePictures.com

Vanessa Hudgens: Gettin’ Physical

Following an elusive Monday morning during which she hid behind a hoodie from the paparazzi as she emerged from boyfriend Zac Efron’s house, Vanessa Hudgens was considerably more friendly as she made her way to the gym.

The High School Musical cutie looked sexy in a white capsleeve v-neck t-shirt and a pair of grey yoga pants as she hopped into her car, stopping for a brief moment to pose for a few shots.

And like every girl her age, Hudgens has become addicted to text messaging, with gal pals like Miley Cyrus on the receiving end. She told press, “I text Miley Cyrus a lot — we are good friends and she spent the night at my house recently. I text everybody on Earth!”

She also offered advice to her young fans, saying, “Having a bad experience just shows you who your real friends are. If you get caught between your head and your heart, you have just got to go with your gut feeling.”

Photo Credit: FlynetOnline.com

Source: celebrity-gossip.net

Hayden Panettiere’s Night Out at Madeo

It was a typical Monday evening for Hayden Panettiere, dealing with a mob of paparazzi as she left a relaxing dinner out at Madeo restaurant in Beverly Hills.

Sporting her short and sexy blonde coif along with a pink off-the-shoulder top, jeans, and a pair of shiny peep-toe heels, the Heroes hottie smiled for a few pics before hopping in her car and heading home.

Speaking of home, Miss Panettiere recently purchased a $4 million Hollywood Hills mansion, marking her first excursion into living on her own. But not to worry, she’s right down the street from her parents.

She told press, “My parents are, like, down the street. So when it’s late at night and I don’t feel like being by myself, I’ll be like [on the phone], ‘Hi Dad,’ and he’ll be like, ‘Just come over,’ and I’ll be like, ‘Oh, OK. Pull my arm. Twist my arm. OK.’ ”

Source: celebrity-gossip.net

Photo Credit: PacificCoastNewsOnline.com, Wenn.com

Jennifer Aniston: Talking Marriage with John Mayer?


Enjoying a little girl time, Jennifer Aniston was spotted leaving the Sunset Towers in West Hollywood, California where she was having dinner with a gal pal.

And the former “Friends” babe did what she could to avoid the paparazzi by having her massive black SUV pull all the way up to the building’s front door so that she could just hop in and escape with minimal shutterbug invasion.

According to reports, Jen’s fledgling romance with musician John Mayer is reportedly cruising along quickly towards the prospect of marriage. Though they’ve only been together for three months, and inside source reveals they’re throwing around the ‘m’ word.

“Jen is so in love with John (that) they are already talking marriage. I would not be at all surprised to see Jen and John make it legal sooner rather than later. In fact, I would be shocked if they didn’t tie the knot before her 40th birthday in February.”

Photo Credit: Wenn.com, BauerGriffin.com

Source: celebrity-gossip.net

Katrina Kaif Biography

Birthday: 16th July 1984

Gender: Female

Occupation: Actress

Alternate Name/s: Kat

Place of Birth: London

Zodiac Sign: Cancer

Category: Celebrity

Biography: Katrina was born on 16th July, 1984 in Hong Kong. Katrina started her career as a model and was instantly a hit. She starred in many advertisements but her entry in films was though 'Boom' which wasn't successful. Her first commercial film 'Maine Pyar Kyon Kya' was declared a hit but critics rubbished her performance as she did not dub for her own voice. Her relationship with Salman Khan was rumoured to bring her film offers but Katrina silenced her critics by dubbing in her voice for 'Namaste London' and 'Partner', both declared as box-office hits of 2007.

KATRINA KAIF'S UNFORGETTABLE MOVIES

Race (Saif Ali Khan, Akshaye Khanna, Katrina Kaif, Bipasha Basu, Anil Kapoor, Sameera Reddy)

Welcome (2007, Akshay Kumar, Katrina Kaif, Paresh Rawal, Nana Patekar, Anil Kapoor, Mallika Sherawat, Feroz Khan)

Partner (2007, Salman Khan, Katrina Kaif, Govinda, Lara Dutta)

Apne (2007, Bobby Deol, Sunny Deol, Dharmendra, Katrina Kaif, Shilpa Shetty, Kiron Kher)

Namastey London (2007, Akshay Kumar, Katrina Kaif, Rishi Kapoor, Upen Patel, Javed Sheikh)

Balram Vs Tara Das (2006, Mammootty, Katrina Kaif)

Hum Ko Deewana Kar Gaye (2006, Akshay Kumar, Bipasha Basu, Katrina Kaif)

Maine Pyar Kyun Kiya? (2005, Salman Khan, Sushmita Sen, Katrina Kaif, Sohail Khan)

Sarkar (2005, Amitabh Bachchan, Abhishek Bachchan, Kay Kay Menon, Rukhsar, Veerendra Saxena, Katrina Kaif, Tanisha)

Boom (2003, Amitabh Bachchan, Gulshan Grover, Jackie Shroff, Javed Jaffrey, Katrina Kaif, Madhu Sapre, Padma Lakshmi, Seema Biswas, Zeenat Aman)


Katrina Kaif is a model and Bollywood actress.Her mother is English and her father is an NRI originally from Kashmir. She was born in Hong Kong, grew up in Hawaii and London. She has seven sisters.
Her height is 5ft 8.5 inches.and her zodiac sign is "scorpio".
She started modeling by accident at the age of 14, when she was approached for a jewelery campaign. After that she continued modeling in London.
Filmmaker Kaizad Gustad discovered Katrina in London and gave her a part in his film Boom. It wasn't long before the acting bug bit Katrina who decided to take it up full time and move permanently to Mumbai.
With her attractive features, Katrina was offered a number of modeling assignments. However, filmmakers were at first hesitant to sign her because of her linguistic shortcomings, such as her inability to speak Hindi. Films that did feature her usually had her voice dubbed over by a native speaker of the film's language.
She has done two Telugu movies - Malliswari(2004) and Allari Pidugu(2005) and a Malayalam film (Balram vs. Taradas).
This changed with the film, Namastey London, in which she dubbed her own lines.
She is a private person and don't go to too many parties. She wants to go normally with friends. And she is also very particular about her clothes which she wears .although she wears bold outfits on screen or for ads but she feels more comfortable in not-so-revealing clothes in personal life.
She had just finished his Kathak classes in 40 days only in which she had to dance for 7 hours non-stop everyday.
She is said to be romantically linked with Salman khan. Although she has been seeing Salman Khan for sometime now, she still refuses to talk about him in the media. She has made it clear that her personal life is not meant to be known to all and that no one has a right to pass any kind of judgment on it.
She has lot of exciting projects lined up. One of them is ‘Partner’ with Salman Khan and Govinda. She is also doing ‘Apne’ with Dharmendra, Sunny Deol and Bobby Deol together in the movie, for the first time.
Then there is Anees Bazmee’s ‘Welcome’ with Akshay Kumar.Her most recent release was film ‘Namaste, London’ with Akshay Kumar.

Sources: celebrity.srch.in, chakpak.com: Photo Credit; desihits.com

Heidi Montag and Spencer Pratt Talk Middle East Visit

Her stepbrother served a tour of duty in Iraq and Afghanistan before coming back to America and dying in a tragic rooftop accident. And now Heidi Montag wants to visit the Middle East and honor his memory by performing for the US troops.

The Hills babe told press, “My brother was an airborne ranger in Afghanistan and Iraq. It’s very important to me and important to Spencer to support the troops and go over there.”

And the peroxide pair say they have an inside connection to Presidential hopeful John McCain through their newfound friend, his daughter Meghan. “She’s very sweet,” Pratt told press. “I think Meghan McCain is helping organize Heidi and our Iraq trip. Her dad definitely has some pull with the military. I think she’s going to put that together for us.”

Of course, no Heidi/Spencer interview would be complete without a shameless self-promotion plug, and this time it’s for their new video game, to be sold at Kitson boutique. Pratt commented, “It’s top secret. Get ready. All your wildest dreams are going to be in it.”

Source: celebrity-gossip.net

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Cheap air travel in peril in Mexico

Troubles similar to U.S.: Migrant workers may fewer trips home; fuel costs rise; buses lure riders back via subsidized fares.

the slashing of routes and what some analysts fear could be the end of low- cost air travel south of the border.

Experts say the current woes could lead to the disappearance of several Mexican airlines and an era of consolidation that could see just a handful of Mexico's 14 carriers survive. At greatest risk, they say, are Mexico's fledgling low-cost carriers, which entered the market in 2005 and had a profound effect, causing traditional airlines to lower ticket prices and bringing thousands of first-time fliers into the skies.

an independent airline analyst in Mexico City. "Cheap tickets are history. Forget about them."

With jet fuel costs up more than 70 percent in the last year, Mexican airlines have raised prices about 25 percent since the beginning of the year, and Jose expects price increases to hit 50 percent by the end of 2008. Most sensitive to the fare increases are the legion of fliers who were lured from buses by the low- cost carriers. According to low-cost carrier Volaris, about one-third of passengers are first-time fliers.

But an extended period of higher fares could drive that demographic away. "They could migrate back (to bus travel)," said Francisco Guzman, an airline analyst with Scotia Capital in Mexico City. "But it depends on how long this lasts. If it's prolonged, say two years, that would be very bad for aviation and good for buses."

The burgeoning crisis has already had an impact on international flights to Mexico. International prices on legacy airlines Mexicana and Aeromexico have risen sharply. A round-trip flight on Mexicana between San Antonio and Mexico City is about $600, a far cry from the $100 one-way tickets the airline was selling in the spring of 2006.

Delta Airlines, like other American airlines, has cut or suspended several Mexico routes in the last year, including flights between Atlanta and Leon and Merida.

Among the reasons international airlines have cut flights to such secondary markets is the slowdown in migrants flying, analysts say. Migrants returning to the border had also fueled the success of some of Mexico's low-cost carriers. But because of stricter border enforcement, fewer migrants are making frequent visits home, adding to the malaise.

In all, Mexican airlines have cut about 15 percent of their routes, according to the secretary of Communications and Transportation. As in the U.S., several airlines have grounded their planes, preferring to not fly at all than risk losses on unprofitable routes. Discount airlines Avolar and Aviacsa have reportedly grounded about half their fleets in recent months, according to Mexican press reports.

Most low-cost airlines have targeted former bus riders and offered prices slightly higher than those of Mexico's luxury bus lines. But that may be harder to do as bus companies attempt to take advantage of the airline crisis.

In recent weeks, several Mexican bus companies have announced dramatic drops in prices, which they are able to do in part because the Mexican government subsidizes gasoline (diesel goes for about $2.20 per gallon). Mexican airlines have asked for a similar subsidy for jet fuel, but so far the Mexican government has opposed such help for the airlines.

Source: http://www.ajc.com

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Michelle Wie Biography

Michelle Wie Biography

Name : Michelle Wie

Date of Birth : October 11, 1989

Place of Birth : Honolulu, HI

Height : 6'

Nationality : American

Profession : Golf Player

Current Team : LPGA


Michelle Wie Trivia

Michelle Wie was born on 10 November 1989, the daughter of BJ and Bo Wie, a professor of transport policy and a real estate agent.
Michelle Wie at 11 years old won the Hawaii State Women's Stroke Play Championship. At 12, Wie became the youngest player to qualify for an LPGA event.
Michelle Wie became the youngest player to take part in a US men's tournament in Hawaii at the 2004 Sony Open. She was the only woman in the field and said, "Playing in the Sony Open was the greatest experience I've ever had."
According to an interview with the BBC sports academy website Michelle Wie's role models are Tiger Woods, Ernie Els and Annika Sorenstam.

Michelle Wie Detailed Biography

Michelle Wie, already over 6-feet tall, was born in Honolulu on Oct. 11, 1989. An excellent student, Michelle Wie's hobbies include reading, drawing and computers. Michelle Wie began playing golf at the age of four. According to an Associated Press profile, Wie was winning nearly every junior event she entered by the age of 11. Michelle Wie told the AP that she plays golf for about four hours a day on weekdays and seven hours a day on weekends. In tournaments, her father served as her caddie through most of 2003, but the family hired a professional caddie for the PGA Sony Open. At the age of 10, she shot a 64. Also at the age of 10, Michelle Wie became the youngest player ever to qualify for a USGA amateur championship when she made the field for the USGA Women's Amateur Public Links Championship. She advanced to the semifinals of the same event two years later (2002), the youngest semifinalist ever in a USGA amateur championship.

Michelle Wie's performance at the 2004 PGA Tour Sony Open must have convinced even the most sober analysts that she might just be capable - someday - of competing on the PGA Tour. Playing a course Michelle Wie had played many times before, and in great conditions, Wie put together rounds of 72-68 for an even-par 140 at the Sony, missing the cut by just one shot. And she did it at the age of 14. It's not the first time Wie has suprised the golf world, however. Michelle Wie made her first appearance in an LPGA major - the 2003 Kraft Nabisco Championship - at the age of 13. And she managed to play well enough to make the tournament's final pairing, playing alongside Annika Sorenstam and eventual winner Patricia Meunier-Lebouc. Later in 2003, Wie became the youngest-ever winner of the U.S. Even at 13, Michelle Wie was already one of the longest hitters to appear on the LPGA Tour, knocking her drives 20-40 yards past most other players on tour. Michelle Wie regularly knocks the ball 300-plus yards, and her average distance with the driver for the 2003 Nabisco was in the 280s (or about 20 yards more than Sorenstam's average). For the 2004 PGA Tour Sony, her average off the tee (including some 3-woods) was in the 270s, just below the field average.

At the 2002 LPGA Takefuji Classic, Michelle Wie became the youngest ever to Monday qualify for an LPGA Tour event. Her appearance in the 2003 Kraft Nabisco Championship included a round of 66, tying the record for low amateur round in an LPGA major. Wie has also attempted to qualify for the PGA Sony Open, playing in Monday qualifying rounds. In 2003, Michelle Wie finished tied for 47th in a field comprised of 97 men, and playing from the same tees as those men. Tom Lehman, who played with Wie in a pro-am, bestowed the nickname "Big Wiesy" (rhymes with "Big Easy") on her because her swing resembles that of Ernie Els. (netglimse.com) (Photo Credit: english.chosun.com)

Cristiano Ronaldo Parties at Foxtail

He’s one of the top soccer players in the world, and Cristiano Ronaldo is making the most of his holiday in Los Angeles by truly experiencing the celebrity nightlife.

The Manchester United stud has been systematically visiting all of the major celebrity hotspots in town, and last night he checked out the uber-trendy Foxtail lounge for a little late night party fun.

Sporting a grey blazer overtop a white button-up shirt with belted jeans and sneakers, Ronaldo was spotted on his way out the door via his crutches (he recently underwent ankle surgery).

As for his many options for the upcoming season, Cristiano recently told press, “I have had hundreds of questions about Manchester United and Real Madrid. What do you want me to say? That I am staying or that I am going? I don’t know about the future - only God knows that. Great players are always hunted by great clubs, it is a normal situation. I want to be happy regardless of where I play. I can be happy anywhere if I am with people I like or if I am motivated.”

Photo Credit: PacificCoastNewsOnline.com, Wenn.com

Source: celebrity-gossip.net

Katherine Heigl’s Pasadena Family Outing

Taking full advantage of a beautiful day in Pasadena, California, Katherine Heigl was spotted doing some shopping and having lunch with her family yesterday (July 21).

The “27 Dresses” beauty looked summertime sexy in a sleeveless loose-fitting red top along with a pair of white trousers, red flip flops and a white purse.

As for all of the buzz going around regarding a possible Grey’s Anatomy exit for the blonde bombshell, ABC Entertainment President Stephen McPherson says she’ll be safe at home at Seattle Grace Hospital.

He told press, “She’s absolutely staying with the show. There’s an unbelievable storyline for her which is really central to everything that’s going to go on this season. We’re really excited about that.”

Photo Credit: FlynetOnline.com

Source: celebrity-gossip.net

Kate Walsh Checks Out “Mad Men” Season 2

Looking sexy in a new take on the little black dress, Kate Walsh was spotted attending the premiere of AMC’s “Mad Men” Season 2 last night (July 21).

And the “Private Practice” babe worked the red carpet outside the Egyptian Theater in Los Angeles, California like the seasoned pro that she is, giving the paparazzi a few poses before heading inside.

Speaking of “Private Practice,” Walsh recently told press that the show’s new season promises to have an abundance of medical drama as well as plenty of water-cooler-worthy moments in her character Addison Montgomery’s personal life.

“You’ll see Addison dating. There’s a lot of conflict and still that kind of mad and sick balance of comedy and drama that [series creator] Shonda [Rhimes] is such an expert at delivering.”

She continued, “Addison around Officer Nelson, the SWAT guy, is so different than what comes out around Pete (Tim Daly) or [Grey’s Anatomy’s] Derek (Patrick Dempsey) or Mark Sloan (Eric Dane) or anyone else that you’ve seen. It’s really fun to see this total other side of her come out that we never saw. It hit me, this little epiphany of like, ‘Oh, we’ve never seen Addison into someone or someone that likes her back.’”

Photo Credit: WireImage.com

Source: celebrity-gossip.net

Kim Kardashian Considers Dancing With the Stars

Enjoying a low-key afternoon with her boyfriend Reggie Bush, Kim Kardashian was spotted grabbing some grub at West Hollywood eatery Ed’s Coffee Shop yesterday (July 21).

The “Keeping Up with the Kardashians” hottie looked sporty in a white tank top/white sports bra combo with a pair of skin tight black workout Capri pants and white sneakers.

And it sounds like Miss Kardashian may be making her way into yet another television series in the not-too-distant future, as there are reports that she’s been talking with the producers over at Dancing With the Stars.

According to the New York Daily News, Kim will most likely be a part of the cast for the show’s new season this fall. Also considering the gig is former ‘Nsync singer Lance Bass.

Source: celebrity-gossip.net

Photo Credit: SplashNewsOnline.com, Wenn.com

MPUAT Udaipur Results 2008 declared

- Final Year B.Tech. (Dairy Technology & Food Technology) Second Semester Results 2007-08

- Announced on 22nd July, 2008

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Techno Marketing Group
Besides the above-mentioned products and services, e- applications by Tata AIG include emarine, WebPOS and WAATs services. These have made the sale and service of the policies much easier and convenient for both the insurer and the insured. Tata AIG also provides online premium payment option besides the usual ECS (Electronic Clearing Service), drop box, credit card payment, cash or cheque payment at the branches or MINC drop box (only in Mumbai) options.

CONTACT DETAILS:

Website:
http://www.tata-aig.com/

Toll free Number:
Phone:1800 11 9966

Bangalore:
Tata AIG Life Insurance Company Ltd.
Rathnam's Complex, 3rd Floor,
10/5, Kasturba Road,
Bangalore - 560 001
Phone: 91 - 80 - 66938999

Chennai:
Tata AIG Life Insurance Company Ltd.
Raheja Towers,Gr. Floor,
177, Annasalai,
Chennai - 600002.
Phone: 91 - 44 - 66844445


Insurance Companies in India
Bajaj Allianz Life Insurance AMP Sanmar Life Insurance Birla Sun Life Insurance
Aviva Life Insurance HDFC Life Insurance ICICI Prudential Life Insurance
Max Newyork Life Insurance Metlife India Insurance Reliance Life Insurance
Shiram Life Insurance Tata AIG Life Insurance SBI Life Insurance
Bharti AXA Life Insurance ING Vysya Life Insurance Sahara Life Insurance
Kotak Mahindra Insurance General Insurance Corporation India Royal Sundaram Insurance
Canara HSBC OBC Life Insurance

Source: http://www.indiahousing.com/insurance-companies/tata-aig-insurance.html

Glossary 5

Glossary 5

Confused about all the jargons being used, let us help you know more about various terms being used in Insurance.
Here's an easy guide to the various technical terms to help you understand better !
Categorise by alphabets

REBATES: are the discounts offered on the premium levied by Insurance Companies. The rebates could be based on the Premium Payment Frequency, Term or the amount of Insurance Cover (sum assured).

REVIVAL OF A LAPSED POLICY: In case your policy has lapsed due to non-payment of premium, you can revive the lapsed policy by paying arrears with interest and providing new documentation. This can be done only within a stipulated period of time from the date of lapse, and before the date of maturity of the policy.

RISK: is the probability of a loss. This chance of something happening (a factory catching fire for instance) is what is the subject matter of insurance as far as it is a quantifiable financial loss.

SALARY SAVING SCHEME (SSS): comes into operation when the employee makes a written request to the employer for direct deduction of the premium due to the insurer from the monthly salary payable and remittance to the insurer.

SPECIAL REVIVAL SCHEME: is available for policyholders who cannot afford full settlement of arrears. Arrears of premium have to be paid only for two years.

STANDARD LIFE: Any person who, according to the insurer's underwriting standards, is eligible for insurance at the normal rates of premium, as a result of meeting the normal health standards.

SUBROGATION: Since insurance is a method of transferring risk from the insured to the insurer, the insurer is said to step into the shoes of the insured to take care of the monetary obligations arising out of the loss. In the same way the rights of the insured under the circumstances, say to receive compensation for the loss from some other authority, or to proceed legally against a third party that has caused the loss will be subrogated to the insurance company so that it can pursue all methods of getting back some of the money it pays as claims.

SUB-STANDARD LIFE: Any person considered as under-average for granting insurance cover due to reasons such as occupation, dangerous lifestyle or personal or family history of some disease. The insurance company can accept insurance proposal of such a person with increased premium or restrictions on coverage. In some cases, the proposal can be rejected.

SUICIDE CLAUSE: The insurance company will not pay the benefits under the policy if the insured person commits suicide or dies due to attempted suicide within a certain period from the date of the issue of the policy document.

SUM ASSURED: is the amount payable on occurrence of the specified event for which the policy is taken, such as death or completion of term.

SUM INSURED: is the monetary limit of liability of insurers under a policy.

SURCHARGE: is the extra loading on the normal premium, due to any cause, such as monthly premium payments, etc.

SURRENDER: is the voluntary termination of the policy contract by the policyholder before it matures into a claim. The insurer pays the policyholder a surrender value for his policy. This value is normally calculated as a percentage of the premium paid or as a percentage of the paid up value.

SURRENDER VALUE: The amount payable by the insurance company if you foreclose a policy after the premium is paid for a minimum period as stipulated.

SPECIAL SURRENDER VALUE: The surrender value calculated as per a formula announced by the insurer from time to time, which will be paid if it is more than the guaranteed surrender value on foreclosing the policy.

SURVIVAL BENEFIT: is the benefit payable to the life assured if he survives up to a specified date during the term of the policy.

TERM: is the period during which the policy remains in force. The sum assured is payable only if the specified event occurs during this period.

TERM INSURANCE: Under this scheme, you pay premium for a certain number of years, and your nominee will receive the money upon your death; however, you will not receive anything if you survive the term.

TERM INSURANCE PLANS: provide only a death risk cover. These policies do not have any savings element built into them. The Sum Assured is receivable only in case of death during the term of the policy. If the insured survives the term the entire sum assured may not be payable but a smaller maturity benefit may be payable.

THE ORIENTAL INSURANCE COMPANY LIMITED: This GIC subsidiary was set up in and is headquartered in Delhi.

UNIT LINKED INSURANCE PLAN: is designed to compensate for inflation. The premium is split into two parts, one part is used to provide risk cover and the second component is converted into units and invested in equities or other markets.

UNITED INDIA INSURANCE COMPANY LIMITED: This GIC subsidiary was set up in and is headquartered in Chennai.

UTMOST GOOD FAITH: All insurance contracts are on the basis of the concept of 'Uberrima Fides', or Utmost Good Faith. Since the insured has the advantage over the insurer as far as the conditions under which insurance is being bought - say the true state of his health, or the dangers that his house faces from fire - the insurer has the obligation to declare all such material facts with utmost good faith to the insurer so that he may sell you the policy while in possession of the required information.

VESTING AGE: is the age at which life assured becomes absolute owner of the policy, which in the case of minors is 18 years (minimum age for a valid contract).

WHOLE LIFE INSURANCE: remains in force through out the lifetime of the life assured. The sum assured is payable in case of the insured's death. Premiums too are payable till death.

WITH PROFIT: A policy of insurance can be of the 'with profit' kind or 'without profit'. In the first case, the policyholder is eligible to have a share in the profits of the insurance company at the cost of a higher premium.

WITHOUT PROFIT: A 'without profit' policyholder is not eligible to have a share in the profits of the insurance company and only the sum assured under the policy will be paid on the maturity of the policy or on death as the case may be.

Source: http://www.sbilife.co.in/sbilife/application?pageid=CorporateGroup&CorporateId1=glossary4

Glossary 4

Glossary 4

Confused about all the jargons being used, let us help you know more about various terms being used in Insurance.
Here's an easy guide to the various technical terms to help you understand better !
Categorise by alphabets


MARRIAGE ENDOWMENT PLAN: The term of these plans is fixed in relation to the likely time of the child's marriage. The sum assured is payable only at the end of term. Even if the life assured dies during the term of the policy, the sum assured will be paid only at end of term. Premium payment, however, ceases on death of life assured.

MATERIAL FACT: Facts that may have a bearing on the decision by the insurer to give or not to give insurance in a particular case, and what premium to charge.

MATURITY BENEFIT: is the benefit amount payable to policyholder if he survives until the policy matures, in other words, if he survives till the end of the term of the policy.

MATURITY CLAIM: is the amount payable at the end of the term of the policy.

MONEY-BACK PLANS: are a type of endowment plan where a part of the sum assured is payable during the term of the policy. Generally there are 4-6 payouts during the term of the policy. However, notwithstanding the periodical payouts, the sum assured at risk (payable on death) continues to be same during the term of the policy; that is if the life assured dies during the policy term the entire sum assured will be paid to him. No deductions will be made for a payout that might have been made.

MORAL HAZARD: A situation where insurance is being taken with the ulterior motive of staking a (false) claim. This could be where the loss has already taken place, or where there is a pre-existing condition that is left undisclosed, or a situation where the insured is facing heavy losses from other activities and is seeking to buy insurance with a view to collecting a claim and offsetting his losses.

MORTALITY: The probability of death of a typical person at various ages in a given group of people.

NATIONAL INSURANCE COMPANY LIMITED: This GIC subsidiary was set up in and is headquartered in Calcutta.

NEAR BIRTH DAY: The age on the nearest birthday (used for calculating premium).

NEW INDIA ASSURANCE COMPANY LIMITED: A subsidiary of GIC, the company was set up in and is headquartered in Mumbai.

NOMINEE: is the person nominated by the life assured to receive the policy money in case of the death of the life assured. However, nomination does not indicate any transfer of rights, titles and interest of the policy during the lifetime of the life assured. Nomination can be changed either through a will or by an endorsement on the policy. Nomination is normally not required in the case of a Joint Life Policy. However to protect their interests in case of a natural calamity where it is hard to establish the proof of the earlier death, it is recommended that the joint policy holders appoint a common nominee

NON-MEDICAL: Policies issued without a medical examination, normally permitted to persons below a certain age, employed in certain institutions and for sums assured below a certain amount.

NON-PARTICIPATING / WITHOUT PROFIT POLICIES In these plans the policyholder is only paid the Sum Assured. He has no claim over the surplus generated by the insurer.

NON-STANDARD LIFE: Any individual, who cannot be granted a policy under normal rates of premiums but can be granted with an extra premium over normal rates of premium, is considered as a Non-Standard Life.

ORDINARY REVIVAL REQUIRING DECLARATION OF GOOD HEALTH IN A SIMPLE FORM can be effected if:
Premium arrears are cleared within seven months from the date of lapse( policy issued at ordinary rates)
The policy is an endowment scheme and the premium arrears have been cleared in the 12 - 24 months prior to maturity date
The new proposal can be considered under non-medical scheme
In arrears are cleared in the 12 months prior to the date of maturity in case of high-risk plans like money-back scheme.
The arrears are paid after 12 months but before 18 months from the date of lapse and the policy has been in force for greater of at least 10 years or half the total term of the policy, whichever is more.


ORDINARY REVIVAL WITHOUT PRODUCING EVIDENCE OF GOOD HEALTH: can be effected if premium is paid within six months of due date of first unpaid premium. This facility, however, is extended only to pure survival benefit policies. Schemes that carry a death cover cannot be revived this way.
If the policy has been in force for at least five years, ordinary revival can be effected if arrears are paid within 12 months of the date of first unpaid premium.
In the case of endowment type policies, ordinary revival can be effected if the arrears are paid during the last 12 months prior to the date of maturity.


PAID UP POLICY: Generally, a policy under which the premiums have been paid for the full paying term or premiums are not being paid upto a certain period. The value of insurance coverage will be reduced to a sum that is worked out based on a pre-defined formula which has a relation to the period for which premiums have been paid and remain payable.

PAID UP VALUE: When premium payment is stopped by the proposer during the term of the policy paying period, and does not or cannot make further payments, the policy can become 'paid up', that is, it can be frozen in terms of benefits which will be a portion of the sum assured and no further premiums need be paid for that benefit level.

PARTICIPATING /WITH PROFIT POLICIES: Policies where the policyholder 'participates' in the surplus generated by the insurer are called participating or with profit policies.

PERIL: is a contingency or an accidental happening, which may be covered or excluded under a policy of insurance.

PERMANENT DISABILTY: Irrevocable loss of entire sight of both eyes.
Amputation of both hands at/above the wrists.
Amputation at or above both ankles.
Amputation of one hand and one foot.


POLICY: is a stamped document, which provides evidence of the contract of insurance between the insurer and the insured.

POLICY REVIVAL: A lapsed policy can be revived before the date of maturity within five years from the date of first unpaid premium. The policyholder needs to submit proof of his ability to pay future premium. All premium arrears, with interest, have to be cleared. SBILife reserves the right to accept the offer for revival. Evidence of good health may be required.

PREMIUM: is the monetary consideration paid by the insured to the insurer for an insurance cover. The premium can be for the entire policy period (as in the case of annual policies) or payable periodically (as in life policies). In India premiums have to be paid before coverage can begin and the insurer can be 'at risk', a provision under section 64 V B of the Insurance Act.

PREMIUM PAYING TERM (PPT): is the term for which premium has to be paid. In some policies, the term for which premium is to be paid by the insured is less than the term of the policy.

PREMIUM PERIODICITY: For life policies premium are payable periodically. They are payable annually, half-yearly, quarterly and monthly. Rebates are usually offered on annual and half-yearly premium payments and loadings on monthly payments.

PREMIUM WAIVER BENEFIT (PWB): Children’s policies provide this benefit where the future premiums payable upto the vesting date are waived in the event of your death.

PROPOSAL FORM: The Application in the required format sent by the proposer (person who wants to buy the contract) is the Proposal Form.

PROPOSER: is the person who buys the insurance policy.

PURE ENDOWMENT PLANS: are policies where the amount is payable by the insurer to the policyholder only at the end of the specified term. They serve as savings instruments.

Source: http://www.sbilife.co.in/sbilife/application?pageid=CorporateGroup&CorporateId1=glossary3

Glossary 3

Glossary 3

Confused about all the jargons being used, let us help you know more about various terms being used in Insurance.
Here's an easy guide to the various technical terms to help you understand better !
Categorise by alphabets


DEATH BENEFIT: is the benefit payable in the event of death during the term of the policy.

DEATH CLAIM: is the claim that arises if the life assured dies during the term of the policy.

DEATH RISK COVER: Is the person authorised by Insurance Regulatory & Development Authority (IRDA) to sell its policies.

DEBIT TO PROVIDENT FUND Rules permit payment of premium by withdrawal from Provident Fund
PF authority sends cheque to policyholder Policyholder forwards the premium and sends the receipt to Provident Fund.

DECREASING (SUM ASSURED) TERM POLICY/ MORTGAGE REDEMPTION POLICY: The Sum Assured decreases during the term of the policy to match the outstanding principal.

DEFERMENT DATE: is the date on which the risk cover commences after the deferment period has elapsed.


DEFERMENT PERIOD: is the period between the date the policy is bought and the risk cover commences.

DEFERRED ANNUITY
(ANNUAL PAYMENTS) : plans are recommended for young persons. The premium is paid during the deferment period and annuities start at the end of the deferment period. The premiums are returned to the nominee/heirs if the policyholder dies during the deferment period along with interest. These policies come with an option to convert the policy for a reduced paid up amount or receive cash based on the Surrender Value, in case insured is unable to meet future premium payments.

DISABILITY PLANS: These come as add-ons to basic insurance covers. Higher premiums are charged to cover the risks associated with sickness, death caused by accident and permanent disability caused by accident. The benefits include payment of an extra amount (equal to Sum Assured but not exceeding Rs 5 lakh in most cases) along with compensation for loss of employment due to sickness/disability and reimbursement of medical expenses among others.

DOUBLE ACCIDENT BENEFIT: If an individual has bought double accident benefit he is entitled to double the Sum Assured in case of death due to accident. The death should occur within 120 days of the accident and due to injuries sustained in the accident. The maximum benefit payable is Rs 5 lakh. The insured must not be over 70.

EDUCATION ANNUITY PLANS pay the sum assured in installments spread over a specified period to match the estimated financial expenses on higher education.

ENDOWMENT POLICIES: are a combination of risk cover and savings instrument. The Sum Assured is payable on death of the life assured or at the end of the term whichever is earlier.

EXCEPTION/EXCLUSION: A peril that is specifically excluded under an insurance policy. Exclusions can be general, or applicable across all insurance policies or applicable to a specific policy. Loss due to war or warlike conditions, or due to nuclear weapons is a general exclusion. No policy covers these losses. If you have heart disease your health insurance policy could exclude hospitalisation for that condition and those arising out of it. This is a specific exclusion

EXCESS: The amount of loss agreed under an insurance policy, to be borne by the insured himself.

FORECLOSURE: is the action taken by the insurer when the policyholder fails to pay up the interest on his loan. The insurer writes off the policy before its maturity date and the surrender value is adjusted against the loan.

FORFEITURE OF PREMIUM: The laws and principles of insurance do not allow forfeiture of premium if the insured is unable to pay future premium leading to lapse of policy.

Source: http://www.sbilife.co.in/sbilife/application?pageid=CorporateGroup&CorporateId1=glossary1

Glossary 2

Glossary 2

Confused about all the jargons being used, let us help you know more about various terms being used in Insurance.
Here's an easy guide to the various technical terms to help you understand better !
Categorise by alphabets

ABSOLUTE ASSIGNMENT: If absolute assignment is done then there can be no reversion of the assignment to the assignor or his estate.

ACCIDENT BENEFIT: If you pay a small additional premium, your nominee will receive twice the sum assured upon your death by accident. If you suffer a permanent disability due to the accident, then the amount is paid to you in installments, and subsequent premiums under the policy are waived.

AGENT: Is the person authorised by Insurance Regulatory & Development Authority (IRDA) to sell its policies.

ANNUITY: (RETIREMENT BENEFIT) Is a periodic payment (usually monthly) payable by the insurer to the life assured. Generally, it is used in context of retirement benefits. Under this type of insurance contracts, the life assured pays a fixed premium (which could be a lumpsum or a staggered payment) and the insurer, in return, provides the life assured a fixed amount of income throughout his/her lifetime.

ANNUITY CERTAIN: (Annual Payments) These annuities are payable for a certain minimum period and if the policyholder dies during this period, the remaining instalments are paid to the beneficiary of the policy. These annuities operate as any normal annuity after the end of the certain period, i.e. payments will be made throughout the life of the life assured. No payments are made to the beneficiary after the death of the life assured, if he outlives the certain period.

ASSIGNMENT: Is the transfer of the rights, titles and interest of the policy by the assignor to the assignee. The assignor is the absolute owner of the policy. He/She could be the proposer, the life assured or the absolute assignee. Nomination is automatically cancelled by Assignment .


BANKERS ORDERS: Bank is instructed to pay premium on due date on behalf of the insured.

BENEFIT POLICY: In some cases the extent of loss cannot be quantified in monetary terms (in life insurance for instance), and hence the amount payable under a life policy is a benefit and not an indemnity. It also means that the extent of compensation need not be restricted to the sum assured under one specific policy and that payment under other policies if they exist can be collected too.

BONUS: The insurance company periodically values its assets and liabilities. The premium payments that it receives from you are used for three purposes: to settle claims, to make investments, and to pay expenses. If the insurance company makes profits, it declares a bonus for a certain period for its policyholders. It can disburse this bonus to you in three ways: the bonus is added to the value of the policy;the bonus is distributed to you physically; or your future premium payments are reduced. In India, generally the first method is adopted for with profit policies, and is paid to you upon maturity of the policy.

CHILDRENS DEFERRED ASSURANCE PLANS: Are schemes under which a minor child is the beneficiary. The parent proposes for insurance on the life of the minor and pays premiums. The risk on life of child begins at a specified age. The period before the specified age is attained is called Deferment Period.

CLAIM: An insurance contract is a promise to pay certain sums under certain conditions. Making a claim is invoking that promise and if it is in accordance with what is set out in the contract then it is admissible and can be payable if all other terms and conditions of the contract are met.

CLAIM AMOUNT: It is the amount payable by the insurer under a policy on a claim arising.

Source: http://www.sbilife.co.in/sbilife/application?pageid=CorporateGroup&CorporateId1=Glossary

Glossary

Glossary

Confused about all the jargons being used, let us help you know more about various terms being used in Insurance.
Here's an easy guide to the various technical terms to help you understand better !
Categorise by alphabets


GENERAL INSURANCE COMPANIES: Insurance companies which offer risk (insurance) cover on non-life entities, such as Crop insurance, Fire Insurance, etc are known as General Insurance Companies. They cover human life only for Mediclaim Policies.

GRACE PERIOD: is the period during which the policyholder can renew his policy. The policy remains in force, i.e. the risk continues to be covered during this period and claims will be serviced in case of death during this period.
For yearly, half yearly and quarterly premium payments the grace period is 30 days.
For monthly mode of payment- 15 days.

GROUP GRATUITY SCHEME: The Payment of Gratuity Act 1972 makes it compulsory for employers, who have 10 or more employees, to set up a Gratuity Scheme. The Group Gratuity Scheme operates as follows:

Employer sets up Gratuity fund as an irrevocable trust fund

Trustees enter into a contract with an insurance company to manage funds

Insurance company manages fund by diversifying risk

The MAIN BENEFIT is to the families of employees who die at an early age since the gratuity is paid on the basis of completed service.

GROUP INSURANCE provides cover for a group of people who satisfy the following conditions:
The group must be formed for reasons other than to take a policy
Members enter and exit a group for reasons other than to take a policy
Should consist of more than 25 members

The Master policy covers all group members and there is no mandatory requirement for all members have to apply for equal cover. At inception of the policy, all members have an option to join, but members who join later cannot be covered immediately. Members appoint a specified authority to represent the group and premiums vary depending on performance of the group. The surplus if any may be shared among members in case of good performance (PROFIT SHARING SYSTEM).


GROUP INSURANCE SCHEME: This is a term insurance type of contract, simple and cheap. The specified amount is payable by the insurer on death of a member.

GROUP SAVINGS LINKED INSURANCE SCHEME: this provides both death and savings benefit. It normally requires the group to consist of at least 50 members. The scheme is administered through the employer, with the first charge on salary for life insurance cover. The balance in this account is utilized for earning interest. The premium for providing risk cover is based on the age distribution of members of the group and balance amount of the premium after deducting for risk cover is used for savings (endowment).

GROUP SUPERANNUATION SCHEME: This operates like a Pension scheme where the payments made at the end of each period
Employers set up trust fund.
Trustees enter into a Superannuating scheme.
Fund managed by insurer.
Insurer provides actuarial, legal and tax assistance to trustees.


GUARANTEED SURRENDER VALUE: You can obtain this minimum amount in case you decide to foreclose the policy, after payment of premium for a stipulated minimum period.

GUARANTEED ADDITION: In case of certain policies, the insurance company adds a certain sum every year to the sum assured of a policy (guaranteed additions). This sum is calculated at a rate per every thousand of sum assured. It is payable upon the maturity of the policy or when the claim is made. The guaranteed addition take place only for every year the premium is paid.

IMMEDIATE ANNUITY/STRAIGHT LIFE ANNUITY: are single-premium policies. The life assured pays a lump sum and the insurer pays him/her a specified amount throughout his/her lifetime. The word immediate denotes that the annuities start from the day on which the single premium is paid, providing immediate income to the insured.

INCREASING (SUM ASSURED) TERM POLICY: In some money-back plans, a fixed percentage of the Sum Assured is paid to the insured at the end of specified periods during the term of the policy. However, notwithstanding the periodical payouts, the sum assured at risk (payable on death) continues to be same during the term of the policy; that is if the life assured dies during the policy term the entire sum assured will be paid to him. These policies are called increasing term policies.

INCREASING TERM INSURANCE: Under certain policies, you death benefit increases periodically over the term of the policy.

INDEMNITY: is a reimbursement or compensation for the actual monetary loss suffered and is made by the insurer to the insured. It has to match the extent of the loss. Indemnity policies make good the monetary loss due to the occurrence of an insured risk due to operation of an insured peril to the extent of such monetary loss.

INSTALMENT REVIVAL SCHEME: is a facility for defaulting policyholders, who cannot to settle their arrears in one lump sum and avail the Special Revival Scheme. The Policyholder can revive his lapsed policy by paying the arrears in installments.

INSURABLE INTEREST: The person who is buying the insurance must have an insurable interest in the thing being insured. If the purchaser will lose monetarily if the object being insured is lost or damaged then he is said to have insurable interest. The main insurable interest is ownership in the case of property insurance. Someone who has lent against that property also has an insurable interest in that property to the extent of his loan. In the case of life insurance, any person is said to have an insurable interest over his or her own life to in indefinite extent. A wife has insurable interest over the life of her husband and a husband over that of his wife.
Insurable interest also exists in some business arrangements like between creditor and debtor or between business partners.
A parent has NO insurable interest in the life of his child in the capacity of a child and vice versa, and similarly neither do siblings have insurable interest in each other's lives.


INSURANCE: A method of managing risk by spreading it. Specifically it is done by transferring the responsibility for bearing the monetary loss due to the risk to another entity (an insurance company) for a consideration. This transfer is called subrogation and includes the transfer of allied rights to the insurer.

INSURABILITY: All conditions pertaining to individuals that affect their health, life expectancy, susceptibility to injuries and diseases.

INSURER: The company that provides insurance cover by issuing contract (policy) of insurance.

JOINT LIFE ANNUITY PLANS: are Annuity plans available for 2 or more persons, normally couples and the annuity is payable till the death of the both.

JOINT LIFE INURANCE PLANS: As the name suggests these policies provide insurance on two lives under one contract. The Sum Assured is payable at the end of the term or on death of either life whichever is earlier. These policies are recommended for working.

LAST BIRTH DAY: The age as on the last birthday of the Policyholder (used for calculating premium).

LIFE ASSURED: is the individual on whose life the policy is taken.

LIFE INSURANCE: is the risk cover an individual can take to mitigate the financial problems that may arise if he/she dies too young or lives too long.

LIMITED PAYMENT WHOLE LIFE PLAN: provide for a fixed premium paying term. The benefit, however, is payable only on death of the life assured. The policy remains in force during the entire lifetime of the life assured.

LOAN-CUM-REVIVAL SCHEME: can be used by policyholders to pay off premium arrears by taking a loan against the policy.

LOAN: against insurance policies gives liquidity to the policyholder. Generally, insurance policies offer the facility of loan being availed against the premium payments made. It may happen that some products may not offer loan facility.

LOYALTY ADDITIONS: In case of some life policies, the Policyholder will be eligible for Additional Bonus alongwith the Sum assured at the time of Maturity of the policy, for having continued the policy till the end successfully.

Source: http://www.sbilife.co.in/sbilife/application?pageid=CorporateGroup&CorporateId1=glossary2

SBI loan scheme for medical students

The State Bank of India will offer a student loan scheme for students joining medical and dental courses through the common entrance test (CET) conducted by the Karnataka Examination Authority for the year 2008-09. An agreement to this effect has been signed between the Rajiv Gandhi University of Health Sciences (RGUHS) and SBI.

The scheme, `Vidyadhana', will be offered as a financial package.

Under the scheme, students and their guardians can visit any SBI branch in Karnataka, preferably a branch nearest to their place of domicile, and avail of a temporary clean overdraft equivalent to the amount to be remitted at the time of CET counselling.

Subsequently, a regular loan limit will be sanctioned by the SBI branch as per the student's eligibility, the bank said in a statement on Friday.

Source: http://www.business-standard.com

GENERAL INSURANCE COMPANIES

GENERAL INSURANCE COMPANIES: Insurance companies which offer risk (insurance) cover on non-life entities, such as Crop insurance, Fire Insurance, etc are known as General Insurance Companies. They cover human life only for Mediclaim Policies.

Source: http://www.sbilife.co.in/

ICICI Health Insurance Scheme

ICICI Lombard Health Insurance Family Shield Review

ICICI Lombard offers health insurance plans for covering individuals and families. These plans cover individuals and families. They also come with some tax benefits which you get. Often people sign up for financial products from companies, without going through the fine print. We take a look at the benefits they give you and demystify the jargon.

The ICICI Lombard Family Shield is a health insurance package for the entire family. They claim cashless service at 3400 hospitals which you can avail of with a Health ID card issued to you. Medical expenses covered for hospitalization of more than 24 hours is covered. In case of an emergency or a planned hospitalization you need to get in touch with their toll free number to get health assistance. The Family Shield Health Insurance scheme is available for single year and two year periods. Everyone from 5 years to 55 years is eligible.

In principal, ICICI Lombard requires you to pay a health insurance premium every year and assures you that they will take care of your hospitalization expenses. Yet there are some exclusions.

Existing illnesses not covered by ICICI Lombard Family Shield

Any illness, disease or injury which existed before the inception of the policy is not covered for the first four years of the policy.

No coverage for the first thirty days after signing up for this policy

Medical expenses are not covered for the first 30 days after taking out this policy. The only exception is in the case of accidents.

Here's a list of ailments which are not covered for the first two years of this policy but are covered thereafter.

Cataract
Benign Prostatic Hypertrophy
Myomectomy, Hysterectomy unless because of malignancy
Hernia, Hydrocele
Fistula in anus, piles
Arthritis, gout, rheumatism
Joint replacements unless due to accident
Sinusitis and related disorders
Stones in the urinary and biliary systems
Dilatation and curettage
Skin and all internal tumors/ cysts/nodules/ polyps of any kind including breast lumps unless malignant/adenoids and hemorrhoids
Dialysis required for chronic renal failure
Surgery on tonsils, adenoids and sinuses
Gastric and Duodenal ulcers
So the first time you opt for this policy, you cannot claim medical expenses for the above ailments. If you are already suffering from any of these ailments, then they will not be covered for four years from the date of taking out the policy. Two years or four years, as applicable refers to consecutive years.

A long list of ailments which are not covered by the Family Shield policy of ICICI Lombard.

AIDS/HIV or any other sexually transmitted diseases - AIDS is a major killer worldwide today. India has millions of people affected with it. HIV/ AIDS and related diseases are not covered by this policy. STDs (Sexually transmitted diseases) such as Gonorrhea, Hepatitis, Herpes, Scabies and Syphilis and all other diseases which can be considered sexually transmitted diseases are not covered.
Use and misuse of liquor. intoxicating substances or drugs are not covered. So if an overdose of some intoxicant or even liquor gets a person to hospital, this policy won't cover the claim.
Routine medical, eye and ear examinations, cost of spectacles, laser surgery, contact lenses or hearing aids, vaccinations, issue of medical certificates and examinations as to suitability for employment or travel are not covered
Internal congenital illness
Suicide or self-inflicted injury. So if someone makes an attempt to kill herself/himself and ends up in hospital, their family has to meet the medical expenses themselves.
Alcohol or Drug Abuse
Illness or Injury whilst performing duties as a serving member of a military or a police force is not covered.
Treatment relating to birth defects and external congenital illnesses is not covered under this policy.
Dental treatment is not covered unless due to accident.
Treatment traceable to Pregnancy and Childbirth, abortion and its consequences, tests and treatment relating to infertility and invitro fertilization. This will not apply to Ectopic Pregnancy proved by diagnostic means and is certified to be life threatening bythe Medical Practitioner.
Birth control procedures and hormone replacement therapy. Many women opt for hormone replacement therapy after menopause. This is not covered by this policy. Vasectomy and Hysterectomy are not covered.
Prosthesis, corrective devices and medical appliances which are not required intra-operatively or for the illness for which the Insured was hospitalized, are not covered.
Treatment of mental illness, stress, psychiatric or psychological disorders, Aesthetic treatment, Cosmetic surgery and Plastic surgery unless necessitated due to accident or as a part of any illness are not covered.
Circumcision unless necessary for treatment of a diseases or necessitated due to an accident.
Vaccination and inoculation of any kind.
The performance of hazardous sports of any kind
Treatment by a family member and self-medication or any treatment that is not scientifically recognized is not covered
Flying other than as a passenger on a scheduled regular carrier is not covered.
Any criminal act is not covered.
War invasion, act of foreign enemies, hostilities (whether declared or not), civil war, rebellion, revolution, insurrection, mutiny, military or usurped power, riot, strike, lockout, military or popular uprising, civil commotion martial law, loot, sack, pillage, terrorism or any terrorist acts. This is a broad section and a lot of injuries may be disallowed under this.
Any losses directly or indirectly due to contamination due to any act of terrorism, regardless of any contributory causes (if the insurer alleges that by reason of these exclusion any loss is not covered by this insurance, the burden of proving the contrary shall be upon the insured.
Nuclear weapons, materials ionizing radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel.
Experimental and unproven treatment, diagnostic tests and treatment not consistent with or incidental to the diagnosis and treatment of any illness or injury for which hospitalization is required.
Costs of donor screening or treatment including surgery to remove organs from a donor in case of transplant surgery
Non-allopathic treatment is not covered. Non-allopathic treatment, pregnancy, childbirth-retaled diseases, cosmetic aesthetic and obesity related treatment are not covered. So if you opt for homeopathic treatment, naturopathy or any other alternative medicine, expenses related to it are not covered. If you're a female and have complications during child-birth, you will have to fund the medical expenses yourself. Weight loss treatments, face-lifts, liposuctions and other such cosmetic surgery is not covered.
Treatment taken at home or received outside the country,
Treatment taken from persons not registered as Medical Practitioners under respective medical councils.
Vitamins and Tonics, Treatment of obesity, general debility,convalescence, run-down condition and rest cure.
Domiciliary Treatment.
Tax Benefits

You do get a tax benefit under section 80D of the Income Tax (Amendment)Act 1986 if you opt for this policy. All contributions made upto Rs.10,000 per annum can be deducted from your gross income.

With so many exclusions, it's a little difficult to think up situations where this policy could be useful. If you're a heart patient and need coverage for your heart ailment, you'll have to pay the health insurance premium on 'Family Shield' to ICICI Lombard for four years before you can make any claim. If your eyes are healthy but six months after opting for this policy, you need a cataract operation..hard luck! You'll have to bear the expenses yourself.
A policy worth considering if at all, only after taking into account all the riders.

Source: http://www.parinda.com

SBI Health Insurance Scheme

SBI Life to launch new health scheme by July: Roy

BHUBANESWAR: Targeting a total premium collection of Rs 8,500 crore in the current fiscal, SBI Life insurance was all set to launch a more "lucrative" product under health category by July end.

This was revealed by SBI Life Insurance's Managing Director and CEO, Uday Sankar Roy here today. "We are planning a health product called Critical Illness (CI)", Roy told reporters.

Claiming that SBI Life had already applied to the regulator for requisite permission, Roy said the product was expected to have a large consumer base as its features are unique.

"Instead of paying the insurance claim to the hospitals, SBI Life will make payment to the policy holder", Roy said.

As the insurance body felt that the hospitals some times charged more from the policy holders, SBI Life decided to launch a product which could give certain money to the patient.

"Above all it is his/her choice to spend money. Therefore, the new product will be attractive", he said adding that the coming scheme will cover seven critical diseases like Blood Pressure, Diabetes, Cancer and others.

This apart, the new product also had a feature of good health declaration in good faith. The policy holder would declare diseases he/she was carrying.

Another factor which could add to the acceptability of the new product was less premium amount. However, there would be no refundable clause of premium money.

Source: http://economictimes.indiatimes.com/