Survival benefit is calculated as a percentage of the sum assured. Money back policies are life insurance plans that return a part of the sum assured to the policyholder as a lump sum at regular intervals. Instead of paying a lump sum sum at once, a fixed percentage of the sum assured is returned in … Read more
Despite IRDAI’s clarification, policyholders will continue to face difficulties as insurance companies have increased health cover premiums citing high claims Ever since the insurance regulator’s mandatory rules on standardization of health insurance exclusions came into effect from October 1, 2020, many policyholders have complained that their premiums have increased drastically. However, the Insurance Regulatory and … Read more
Customers can choose from two variants of this plan. Along with guaranteed income, life insurance is also available in this plan. Exide Life Insurance. Exide Life Insurance launches life insurance plan with guaranteed incomeExide Life Insurance Company has launched a life insurance savings plan “Guaranteed Wealth Plus”. It has two variants to choose from. This … Read more
PMJJBY Scheme: The corona virus epidemic has created chaos all over the world. There is no guarantee of life in this period of corona. Financial security is very important. In such a situation, everyone thinks of taking an insurance plan. If you are also planning to take an insurance plan, then you can take advantage … Read more
In an important order, the Madras High Court has ruled that from September 1, whenever a new vehicle is sold, its bumper-to-bumper insurance should be mandatory. This insurance will be in addition to the insurance covering the driver, passengers and owner of the vehicle for a period of 5 years. Justice S Vaidyanathan has recently … Read more
The country’s largest public sector bank, State Bank of India (SBI) is providing free insurance of Rs 2 lakh to those customers who have opened an account under the Pradhan Mantri Jan Dhan Yojana. To avail the benefits of this insurance, customers will have to open an account with SBI under the Pradhan Mantri Jan … Read more
IRDAI’s proposal will apply to the gross premium of general and standalone health insurance companies. The insurance regulator has also set a limit of 30 per cent for Expense of Management (EoM) A limit of 20 percent can be fixed for the commission of agents of insurance companies. Insurance regulator IRDAI has presented this proposal. … Read more
The cover of a health policy is related to your lifestyle. If you want an exclusive room or a deluxe room during treatment in a hospital, then your cover should be higher A policy with higher cover is always beneficial for you. It does not have conditions like sub-limit of room rent and co-pay ratio.Due … Read more
The proposal to disclose agents’ commission in policy documents was opposed by Life Insurance Corporation of India (LIC) and agents The insurance regulator has already set a deadline of December 2022 for dematerialisation of new insurance policies. This means that by the end of this year, all new policies will have to be issued in … Read more
LIC sees a huge business opportunity in the dematerialization of life insurance policies. LIC has about 70 percent share in the life insurance market. LIC issues about 2 crore new policies every year. Apart from this, the total number of its policies issued earlier is at least 22 crore. LIC can start a depository for … Read more