United Spirits slipped

Shabbir KayyumiAs of now, point of polarity is giving cues to accumulate this stock at lower levels.

After hitting the peak of Rs 800:

United Spirits slipped lower towards its previous resistance which should be acting as a support and chances of developing of demand is higher as it was 200 WMA too. As of now, point of polarity is giving cues to accumulate this stock at lower levels.

The RSI also seems to be bottomed out near the oversold zone which can club with the divergence in RSI on weekly chart. As long as it sustains above Rs 540, possibility of moving on upside is higher and it can hit our first target of Rs 720 and second target is Rs 750 with an ease from current levels.

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Change in contact/bank details of the beneficiary and the same not being updated by the policyholder with the insurer is one of the reasons for rising unclaimed funds.
Recently, PTI reported that as much as Rs 15,167 crore of policyholders' money was lying unclaimed with 23 life insurers as on March 31, 2018. Out of this, Life Insurance Corporation (LIC) has Rs 10,509 crore as unclaimed funds, while the remaining Rs 4,657.45 crore is with the 22 private sector insurers.

Failure in filing claims

1.Mahavir Chopra, Director : Health, Life and Strategic Initiatives at Coverfox.com said, “The biggest reason for a large amount of unclaimed funds lying with the insurer is not filing claims. An insurer not receiving any intimation from a policyholder or its nominee, especially in case of term insurance claims, does not make him liable to pay the claim amount.”

2. Change in contact :

Bank account details of the beneficiary

Suresh Agarwal, Chief Distribution Officer, Kotak Life Insurance said. 

3. Policy cancellation and failure in refund processing:

Chopra said, “Policy cancellation and refund money not reaching the policyholders is another reason for the rise in unclaimed funds.” For instance, you have taken a life insurance policy with a limited premium payment period of 10 years for a policy term of 30 years. 

4. Dispute among beneficiaries:

Agarwal said, “In case there are multiple beneficiaries, probability of dispute among them is high. In such a scenario, in case of death of the policyholder, there would be no information to the insurer and based on the status of the policy the money payable could get transferred to unclaimed fund.”