Insurance blog – Life Insurance | Car Insurance | Travel Insurance | Health Insurance

August 1, 2019

Edelweiss Tokio Life ties up with MobiKwik to offer insurance solutions

Edelweiss Tokio Life ties up with MobiKwik to offer insurance solutions
Edelweiss Tokio Life Insurance, a private life insurer, has tied up with MobiKwik, a leading fintech platform, to offer mobile-based group insurance solutions for the latter’s customers.

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August 1, 2019

“How well does your seller understand your life insurance needs? “

“How well does your seller understand your life insurance needs?

For most of us, something as simple as our laptop is an essential device that we thrive on for work, play and use for an array of day-to-day tasks. While some of us are confident buying it off the web or from a shop, most of us look for field experts who could help give professional advice on the device’s memory and speed, fast processing power, hardware and so
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August 1, 2019

The Insurance Regulatory and Development Authority of India (IRDAI), in its latest guidelines

The Insurance Regulatory and Development Authority of India (IRDAI), in its latest guidelines

IRDAI regulations make insurance policies more rewarding on surrender, flexible to operate The Insurance Regulatory and Development Authority of India (IRDAI), in its latest guidelines, has taken several customer-centric measures that will immensely benefit the policyholder of life insurance companies.

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August 1, 2019

Mutual Funds With Free Insurance: Should You Opt Them?

Mutual Funds With Free Insurance: Should You Opt Them?

While mutual funds due to their power of compounding are now a must-have in one’s kitty to achieve long term goals, a new lure has been added to it by providing free insurance. But should you be going for such a product mix. Here we will discuss on it. First let us detail on what is this investment product all about and how it works:

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July 31, 2019

IRDA allows insurance companies to sign inter-creditor pact

IRDA allows insurance companies to sign inter-creditor pact

The Insurance Regulatory and Development Agency (IRDA) has written a letter to the Indian Banks Association (IBA), saying it has permitted insurance companies to sign inter-creditor agreement (ICA) pact along with banks for the resolution of stressed assets.

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July 31, 2019

Why critical illness insurance is key

Why critical illness insurance is key

Mumbai-based Prateek was struggling with the emotional and financial challenges of his father’s angioplasty treatment when he got another blow. He was himself diagnosed with kidney cancer. The combined bill for treating both was around Rs 10lakh. Unfortunately, the costs for therapies and surgeries in the same fiscal year exhausted the annual limit of Rs 5 lakh of his health cover. He had no choice but to rely on his savings for other expenses.
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July 31, 2019

Car insurance claim: Top tips to claim damage beyond vehicle repair

Car insurance claim: Top tips to claim damage beyond vehicle repair

A car insurance claim has some norms that ensure claim damage beyond repair. These norms include time information to the insurance company, proper documentation which the insurance company and its surveyor needs to support your claim and cooperate with the insurance company. In case of severe damage or burn or fire, the damage may go beyond repair and hence these norms may help you get maximum claim possible under
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July 31, 2019

Budget 2019 tweaks taxes on insurance maturity proceeds

Budget 2019 tweaks taxes on insurance maturity proceeds

Life insurance is a popular product amongst Indians. But a lot of taxpayers do not understand how receipts after the maturity of a life insurance policy are taxed. TDS (tax deducted at source) also comes into play in cases where receipts are Rs 1 lakh or more. TDS of 1 per cent is deducted by the insurance company before a payment is made. In the 2019 Budget, the government has made some
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July 31, 2019

How well does your seller understand your life insurance needs?

How well does your seller understand your life insurance needs?

For most of us, something as simple as our laptop is an essential device that we thrive on for work, play and use for an array of day-to-day tasks. While some of us are confident buying it off the web or from a shop, most of us look for field experts who could help give professional advice on the device’s memory and speed, fast processing power, hardware and so
Read More
July 30, 2019

Two-wheeler insurance: Different types of policies explained

Two-wheeler insurance: Different types of policies explained

Two-wheelers are extremely popular in India owing to their high practicality; they are one of the most convenient means of transportation since they are able to easily manoeuvre through heavy traffic and even negotiate stuffy alleys. Beyond that, two-wheelers are also fun to ride, for most part. Unfortunately, increasing traffic, bad road conditions, and poor driving ethics also make two-wheelers more prone to accidents and damages. This is where insurance comes in to
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July 30, 2019

Buying a travel insurance plan will cover you from unforseen events

Buying a travel insurance plan will cover you from unforseen events

Most of the European countries require Schengen travel insurance before they grant you a Schengen visa. Even if you are traveling to a country where buying travel insurance is not mandatory, you should always have travel insurance to cover you from the losses of unforeseen events like loss of baggage, medical emergencies, loss of passport, personal accident, etc. The average cost of a travel insurance plan depends on the
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July 30, 2019

Smart Tips To Buying Health Insurance Policy

Smart Tips To Buying Health Insurance Policy

Choosing the right health insurance plan is a serious decision as health is of paramount importance. Good health ensures peace of mind and a sense of security for individuals and their family too. A good health insurance policy provides financial protection against ailments.

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July 30, 2019

Things you overlook while buying vehicle insurance

Embedded value: Life insurers need to be wary of Mutual Fund challenge

A funny joke about motor insurance goes, “I collided with a stationary truck coming the other way.” But motor insurance is no laughing matter. From attempting to cut corners by reducing costs to depreciation, there are a host of items that Indians tend to overlook when insuring their dream wheels.

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July 30, 2019

Insurance for a low-income group: Top five benefits that tailor-made insurance schemes provide

Insurance for a low-income group: Top five benefits that tailor-made insurance schemes provide

Insurance for the low-income group: Vector-borne diseases are fast becoming fatal among the low-income group section of the society. People with the high-income group can avail mediclaim facility but what about the low-income group people who can’t afford to invest a high premium and ensure the safety of their family. To address the woes of such section insurance companies have started to come with tailor-made insurance schemes.
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July 30, 2019

Strong distribution helps private insurers

Strong distribution helps private insurers

The insurance industry in India is a fast growing market with life dominating value and non-life taking pole position for volume. Currently, 68 companies operate in the country. Since the industry was opened to private sector in 2001, it has witnessed several changes (regulatory and structural) and has undergone transformation leading to increased penetration, higher coverage, rise of multiple channels (agency, bancassurance, broking, direct, corporate agency, etc.,), superior reach, and intensifying competitiveness.

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July 30, 2019

IRDAI to give green signal to sandbox experiment soon

IRDAI to give green signal to sandbox experiment soon

Regulatory sandbox is an infrastructure that helps fintech players live test their products or solutions, before getting the necessary regulatory approvals for a mass launch, saving start-ups time and cost.

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July 26, 2019

Embedded value: Life insurers need to be wary of Mutual Fund challenge

Embedded value: Life insurers need to be wary of Mutual Fund challenge

Assets under management (AUM) of life insurance companies stand at Rs 35,62,385 crore as on December 2018. During FY19, life insurers sold over 2,86,00,000 policies and earned premium of Rs 2,14,672 crore. When LIC was established in 1956, the objective of the government was to mobilise funds for infrastructure development in the country and to enable the common people to secure their life and happiness of their family in
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July 26, 2019

India witnessing big growth in no. of women insurance advise ..

India witnessing big growth in no. of women insurance advise ..

There has been a spurt in the number of women advisers in

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July 26, 2019

India witnessing big growth in no. of women insurance advise ..

India witnessing big growth in no. of women insurance advise

There has been a spurt in the number of women advisers in

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July 26, 2019

Two To Tango

Two To Tango
Two To Tango

You have to have health insurance if you don’t want to strain your finances due to a medical exigency. You also need life insurance to provide financial security to your loved ones in case something were to happen to you. This involves studying the features of multiple policies. Many people often delay or don’t buy insurance to avoid the hassle of doing this. And, even if they buy, many find it difficult to


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July 26, 2019

What Kind Of Health Insurance Do You Need?

What Kind Of Health Insurance Do You Need?

Burgeoning healthcare costs and the steadily escalating instances of lifestyle diseases – even among the younger populace – have contributed to a greater awareness on the importance of Health Insurance in recent times. A very common question that Health Insurance buyers tend to ask is this: should you opt for individual policies for each family member, or a collective ‘family floater’ plan? Here’s a simple ready reckoner to help you


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July 26, 2019

Planning to buy health cover for your parents? 5 things to look at before opting for one

Planning to buy health cover for your parents? 5 things to look at before opting for one

We all want to provide the best possible healthcare to our parents. However, choosing the best health plan can be a daunting task. Even if one doesn’t have a separate healthcare policy when they retire, it is utmost important to get one because there are chances for a host of health-related problems to arise. Also, with the steep rise in the healthcare cost, without
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July 26, 2019

98% Indians buy health insurance for financial protection: Survey

98% Indians buy health insurance for financial protection: Survey

Indians predominantly buy insurance for tax-saving and investment purposes but are slowly recognising that it also means protection, said a new survey.According to PolicyBazaar.com’s latest findings, 98 per cent of respondents purchased health insurance for financial protection against medical expenses.

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July 25, 2019

What types of death are covered by term insurance? Find out

What types of death are covered by term insurance? Find out

Most people opt for life insurance covers so that in case of any unfortunate event, the dependents or the family members of the policyholder can be financially secure. However, did you know about certain kind of deaths that are not covered under Term Insurance?

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July 25, 2019

How to protect yourself from insurance frauds

How to protect yourself from insurance frauds

With insurance frauds on the rise, it is important to know how to protect yourself from scams considering there are many fake insurance policies in the market. It is important for a customer to remain aware about such scams, as generally unsuspecting customers are targeted by fraudsters. There are many fly-by-night operators who try to fleece customers by offering huge discount on premium rates.

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July 25, 2019

Insurers under troubled mortgage lender are safe, says IRDAI

Insurers under troubled mortgage lender are safe, says IRDAI

The Insurance Regulatory and Development Authority of India (IRDAI) has assured the public that the insurance businesses of troubled mortgage lender DHFL are stable and have adequate solvency.

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July 25, 2019

Insurance companies should follow IRDAI regulations while investing in Corporates: Subhash Chandra Khuntia

Insurance companies should follow IRDAI regulations while investing in Corporates: Subhash Chandra Khuntia

Insurance companies will have to abide by IRDAI regulations while investing in the corporate companies, says Subhash Chandra Khuntia, Chairman, Insurance Regulatory Development Authority of India (IRDAI). In an interview with Anurag Shah, Zee Business, Khuntia asked insurance companies to be careful while investing in corporate companies to make sure that the policyholder is not at the receiving end. Edited Excerpts.

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July 25, 2019

How your returns can get hit if insurers overspend

How your returns can get hit if insurers overspend

The Insurance Regulatory and Development Authority of India (Irdai) recently issued an order against Reliance Nippon Life Insurance Co. Ltd for exceeding expenses of management (EoM) beyond the permissible limits. It was found that the insurer’s actual EoM for FY15-16 were Rs 1,632.24 crore against the limit of Rs 1,069.20 crore.

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July 25, 2019

A large single non-life PSU is needed for market health: United India CMD

A large single non-life PSU is needed for market health: United India CMD

Following the 2018-19 Union Budget announcement to merge National Insurance Company, Oriental Insurance Company and United India Insurance Company, several new merger equations have been doing the rounds. Among others is the proposal is to merge all the three firms with New India Assurance.

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July 24, 2019

Motor Vehicle Amendment Bill 2019: Top 5 Things You Need to Know

Motor Vehicle Amendment Bill 2019: Top 5 Things You Need to Know

The Motor Vehicle (Amendment) Bill has been passed in the Lok Sabha after a long discussion on Tuesday. The Bill was passed by a voice vote and several amendments moved by opposition members were also rejected by a voice vote. The new bill was passed to amend the provisions of the Motor Vehicles Act of 1988 which was tabled in the house back in 2017, but was not
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July 24, 2019

Ways To Fight A Health Insurance Denial

Ways To Fight A Health Insurance Denial

When your health insurance claim is denied or your health insurer refuses pre-approval for care you need, you may think your hands are tied. But there’s actually a lot you can do to try getting that decision reversed.

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July 24, 2019

How new laws are helping insurance policies improve

How new laws are helping insurance policies improve

This year several new insurance regulations have been notified or proposed. These laws consist of many seemingly incremental changes but when put together become a meaningful step forward for policyholders. The regulations cover life insurance, both traditional and unit-linked insurance plans (Ulips), health insurance, third-party administrators (TPAs), fixed benefit critical illness and personal accident plans, insurance distributors and a framework for product innovation.

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July 24, 2019

DHFL insurance subsidiaries have adequate solvency: IRDAI Chairman Subhash C Khuntia

DHFL insurance subsidiaries have adequate solvency: IRDAI Chairman Subhash C Khuntia

The insurance subsidiaries of Dewan Housing Finance (DHFL) do not have any liquidity concerns, said Subhash C Khuntia, Chairman of Insurance Regulatory and Development Authority of India (IRDAI). While the parent company DHFL is facing a debt crisis, Khuntia said that the insurance subsidiaries (DHFL Pramerica Life and DHFL General Insurance) have adequate solvency.

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July 24, 2019

Bangaloreans need to take motor insurance seriously

Bangaloreans need to take motor insurance seriously

Many of us don’t understand the importance of insurance and the role it plays in keeping us safe. According to a recent IRDAI report, a staggering 56 percent of two-wheelers in Bangalore are breaking the law by being underinsured. In fact, Third Party (TP) insurance, is deemed mandatory by the Motor Insurance Act and is available at a very affordable INR 750. Motorists who are caught without insurance are liable to pay a
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July 23, 2019

IRDAI relaxes repayment terms in suicide cases within 12 months

IRDAI relaxes repayment terms in suicide cases within 12 monthsn

Good news for policyholders. Earlier, there were no regulatory provisions for any refund to a policyholder, during the first year of policy issuance, in case a person committed suicide, and life insurers could have legitimately denied any payment of claims to the beneficiaries of such a life insurance policyholder during that period.

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July 23, 2019

Common reasons why your travel insurance claim might get rejected

Common reasons why your travel insurance claim might get rejected

For a lot of Indians, travel insurance is becoming an indispensable part of travelling as it not only acts as a safety net against unforeseen medical expenses but also safeguards you against other related travel emergencies that could spoil your trip. While one can’t have a control on these mishaps, there is definitely precautions that you can take. But still, there are hundreds of things which can go wrong to
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July 23, 2019

Your life insurance plans get tweaked

Your life insurance plans get tweaked

The Insurance Regulatory Development Authority of India (Irdai) has simplified product regulations for the unit-linked products and non linked products. Let’s take a deeper look at the changes suggested by the regulator that may have an impact on you.

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July 23, 2019

Regulator raises alarm ovder poor health of national insurance company

Regulator raises alarm ovder poor health of national insurance company

The IRDAI has shot off a letter to finance minister rising the alarm over the deteriorating financial situaion of staterun general insurer National Insurance company limited

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July 23, 2019

Here’s why insurance players aren’t too happy with the Motor Vehicles (Amendment) Bill

Here’s why insurance players aren’t too happy with the Motor Vehicles (Amendment) Bill

While the Motor Vehicles (Amendment) Bill would make way for

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July 23, 2019

Opinion | After all the noise, traditional insurance still isn’t customer-friend

Opinion | After all the noise, traditional insurance still isn’t customer-friend

Other than reasons of lack of transparency and complicated structures, a high exit load—charge levied for early exit—is what makes traditional bundled life insurance plans the least favourite among financial planners and Mint’s personal finance team. In fact, from data on persistency—which is the number that shows how many policies are renewed year after year—it appears that even customers have a change of heart and end up surrendering these plans
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July 22, 2019

Taking the right insurance policy for monsoon

Taking the right insurance policy for monsoon

Comprehensive health, home, motor policies can save you from vagaries of weather that may singe your pocket

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July 22, 2019

Irdai’s regulatory changes likely to make insurance products more appealing

Irdai’s regulatory changes likely to make insurance products more appealing

After 2013, the Insurance Regulatory and Development Authority of India (IRDAI) has now once again come out with wide-ranging changes to product regulations. Most of these changes, according to experts, are pro-customer and will enhance the attractiveness of insurance products vis-à-vis those offered by mutual funds, National Pension System (NPS), and so on.

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July 22, 2019

Look at claims settlement ratio while buying term insurance plan

Look at claims settlement ratio while buying term insurance plan

Though an increasing number of people are now realising the value of term insurance, a major percentage of the Indian population continues to be ignorant about the new term insurance plans sold by both public and private players in the market. This, to some extent, explains the continuing reputation of LIC in the insurance market. However, a comparison of the premium charges of LIC with private insurance companies


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July 22, 2019

Look at claims settlement ratio while buying term insurance plan

Look at claims settlement ratio while buying term insurance plan

Though an increasing number of people are now realising the value of term insurance, a major percentage of the Indian population continues to be ignorant about the new term insurance plans sold by both public and private players in the market. This, to some extent, explains the continuing reputation of LIC in the insurance market. However, a comparison of the premium charges of LIC with private insurance companies


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July 22, 2019

Fake motor policies more than double in two years

Fake motor policies more than double in two years

Fake motor insurance policies have more than doubled to 1,19

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July 19, 2019

5 most common myths about child insurance busted

5 most common myths about child insurance busted

One of the most joyous moments in the lives of any couple is becoming parents. It is said that the arrival of a child gives birth to a mother and father. This parenthood brings a shift in their life stage with the additional responsibilities to be fulfilled as parents.

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July 19, 2019

Life Insurance: Surrender and annuity norms made customer-friendly

Life Insurance: Surrender and annuity norms made customer-friendly

The insurance regulator has revised the surrender and annuity norms in both linked and non-linked life insurance products. The minimum death benefit, revival period and norms of pension products have also been revised to make them more customer-friendly.

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July 19, 2019

Can standalone OD car insurance policy remail valid if TP insurance expires earlier?

Can standalone OD car insurance policy remail valid if TP insurance expires earlier?

Last year, IRDAI issued new guidelines for motor insurance policies for new vehicle owners.Insurers are not allowed to offer standalone annual own damage insurance policies for cars and 2 wheelers.

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July 19, 2019

Why You Must Get A Comprehensive Policy For Your Two-Wheeler

Why You Must Get A Comprehensive Policy For Your Two-Wheeler

The digital boom has made buying a two-wheeler insurance policy as simple as booking a show of your favourite movie. General insurers and web aggregators offer various two-wheeler insurance products online with great features in abundance coupled with low premium.

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July 19, 2019

Now, 110 insurance products covering mental illness in India: FM Nirmala Sitharaman informs Lok Sabha

Now, 110 insurance products covering mental illness in India: FM Nirmala Sitharaman informs Lok Sabha

Indians now have 110 insurance products to choose for their mental health ailments. Responding to a query in the Lok Sabha, Finance Minister Nirmala Sitharaman said that the insurance regulator has approved 110 such products since August 16, 2018.

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July 19, 2019

Buying car insurance policy? Four myths you should stop believing

Buying car insurance policy? Four myths you should stop believing

Are you buying a car insurance policy? Car insurance offers various benefits to the policyholders in the time of need. At the time of buying an insurance policy, it is important to learn to differentiate between myths and reality.

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July 18, 2019

Are insurtech users compromising on their data privacy for convenience?

Are insurtech users compromising on their data privacy for convenience

“Let’s chat insurance,” prompts the chatbot of an emerging insurtech, offering bite-sized, customized insurance plans. In return, the user must provide certain personal information like Aadhaar number and medical prescriptions. The insurtech assures it will match the user with the right insurer, negotiate the premium and present a seamless claim management process. The user skims through the FAQs, the policy and submits the information, at the click of a button.
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July 18, 2019

IRDAI Decreases Minimum Death Benefit In Non-linked Policies from Ten Times To Seven Times

IRDAI Decreases Minimum Death Benefit In Non-linked Policies from Ten Times To Seven Times

The Insurance Regulatory and Development Authority of India (IRDAI) announced that it has brought some changes to the key norms of life insurance products in the country. The minimum death benefit in the non-linked policy has been decreased from 10 times to seven times. In the non-linked policy, policyholders will get a fixed amount if the policy is surrendered after two years. The revival period
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July 18, 2019

Changes In Life Insurance Set To Benefit You: Know The New Rules

Changes In Life Insurance Set To Benefit You: Know The New Rules

After a long wait of 9 years, Insurance Regulatory and Development Authority of India (IRDAI) has issued new rules related to Life Insurance products. The new rules will be for non-linked and ULIP products and will be very beneficial for the policy holders, said a Zee Business TV report.

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July 18, 2019

Now you can buy health insurance policies that also cover mental health

Now you can buy health insurance policies that also cover mental health

The stigma surrounding mental health issues is said to have restricted people from seeking treatment for it. One report said that the fear of being viewed differently has resulted in a little over 55 per cent of Indian adults with mental illness not receiving any treatment throughout their lives. It also doesn’t help that the cost of treating mental ailments can be high.

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July 18, 2019

Many positives for the insurance sector from the Budget

Many positives for the insurance sector from the Budget

On July 5, 2019, when the Finance Minister presented the budget, she was unambiguous in positioning the insurance sector as a critical route to integrating India with the global financial system. She showed her intent of investing in long-term measures such as inviting top international insurance companies for the annual global investor meet. At the same time, she is keen to take immediate actions such as increasing the limit for Foreign
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July 18, 2019

Fake motor insurance policies more than double in last two years

Fake motor insurance policies more than double in last two years

Fake motor insurance policies have more than doubled from 49.

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July 17, 2019

HIV/AIDS patients ask for insurance cover of Rs 4 lakh

HIV/AIDS patients ask for insurance cover of Rs 4 lakh

The Tamil Nadu Networking People with HIV/AIDS (TNNP) on

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July 17, 2019

New IRDAI rules to make traditional, pension and Unit Linked products more beneficial for policyholders

New IRDAI rules to make traditional, pension and Unit Linked products more beneficial for policyholders

In a bid to improve the product proposition, the Insurance Regulatory and Development Authority of India (Irdai) has released product guidelines for both traditional insurance plans and ULIPs. It has modified the rules for pension products, traditional plans and Unit Linked Insurance Plans by easing the surrender and annuity norms.

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July 17, 2019

Citigroup to offer health insurance, relocation expenses to live-in partners of straight, LGBT employees

Citigroup to offer health insurance, relocation expenses to live-in partners of straight, LGBT employees

Citigroup Inc has taken a move towards a more inclusive employee policy by extending certain policies such as health insurance coverage and relocation expenses to all domestic partners, including live-in partners and LGBT partners in India. The New York-based investment bank and financial services corporation will be one of the first in the country to offer insurance cover to live-in or unmarried partners of heterosexual employees.
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July 17, 2019

Don’t expect your insurance policy to make money for you

Don’t expect your insurance policy to make money for you

I am really upset that I paid the premiums on my term plan for 20 years and I am not even dead!” I stared unbelievingly as I heard X utter these words. I wasn’t quite sure what he was upset about. Was it because he had paid the premiums for all those years or was it because he was not yet dead?

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July 17, 2019

IRDAI tweaks norms for life insurance products

The Insurance Regulatory and Development Authority of India (IRDAI) has tweaked some of the key norms pertaining to life insurance products.

The Insurance Regulatory and Development Authority of India (IRDAI) has tweaked some of the key norms pertaining to life insurance products.

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July 17, 2019

Life insurers set to report strong quarter

Life insurers set to report strong quarter

Life Insurance companies are expected to report strong first quarter earnings, as the individual new business premium (NBP) growth for them has been over 30 per cent. In addition, during the first quarter, the 10-year benchmark yield was down by 46 basis points, which should lead to a 1 per cent to 3 per cent boost in their embedded values. On the flip side, while the rates are down, the default incidents
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July 17, 2019

Changes made in life insurance products set to benefit policy-holders; Check what are they

Changes made in life insurance products set to benefit policy-holders; Check what are they

After a long wait of 9 years, Insurance Regulatory and Development Authority of India (IRDAI) has issued new rules related to Life Insurance products. The new rules will be for non-linked and ULIP products and will be very beneficial for the policy holders, said a Zee Business TV report.

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July 17, 2019

Why your family should know about your insurance policy

Why your family should know about your insurance policy

Imagine your loved ones who are financially dependent on you are not aware of the fact that you have saved a lump sum amount of money for their upkeep for when you are no longer around. You have invested all of your life’s labour in accumulating those savings just to realise that the funds are lying unused because you have failed to inform your loved ones of how and where to
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July 16, 2019

Written consent of old owner is necessary to transfer insurance

Written consent of old owner is necessary to transfer insurance

Motor Tariff GR 17 is very clear on the process of transferring policy in new owners name in cases of transfer of vehicle ownership. On transfer of ownership, the Liability Only cover, either under a Liability Only policy or under a Package policy, is deemed to have been transferred in favour of the person to whom the motor vehicle is transferred with effect from the date of transfer. The transferee
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July 16, 2019

IRDAI issues new rules for ULIP and non-linked products

IRDAI issues new rules for ULIP and non-linked products

Insurance Regulatory and Development Authority (IRDAI) on Monday issued new rules for life insurance products, including ULIP and non-linked products.

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July 16, 2019

IRDAI may relax rules for pension plans & ulips, make surrenders easy

IRDAI may relax rules for pension plans & ulips, make surrenders easy

Mumbai: The Insurance Regulatory and Development Authority of India (Irdai) Monday released final product guidelines for both traditional and unit linked insurance products to improve the product proposition. It has relaxed rules governing pension products, Ulips and traditional plans by easing the surrender and annuity norms.

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July 16, 2019

5 Factors to consider while buying a new car in India

5 Factors to consider while buying a new car in India

Buying a car is one of the most crucial decisions that we make. From looking for the right design, model, and features to choosing the right accessories that make a car the perfect fit for you and your family- there are numerous factors that come into play.

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July 16, 2019

Relaxing FDI limit in insurance intermediaries to strengthen distribution capabilities

Relaxing FDI limit in insurance intermediaries to strengthen distribution capabilities

Budget proposal of relaxing foreign investment limit in insurance intermediaries will strengthen distribution capabilities and increase international involvement, particularly from developed markets, Fitch Ratings said Monday.

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July 16, 2019

Why you should not expect your insurance policy to make money for you

Why you should not expect your insurance policy to make money for you

I am really upset that I paid the premiums on my term plan for 20 years and I am not even dead! I stared unbelievingly as I heard X utter these words. I wasn’t quite sure what he was upset about. Was it because he had paid the premiums for all those years or was it because he was not yet dead?

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July 15, 2019

Why the majority of life insurance policies face early ‘death’

Why the majority of life insurance policies face early ‘death’

The life insurance industry has reported a persistency ratio of 47 per cent in the 61st month (completion of five years) in FY19, implying that less than half of the policies continue into the sixth year. Based on the number of policies renewed, even LIC, the insurance behemoth, doesn’t have a sterling record — its 61st month persistency ratio was 51 percent.

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July 15, 2019

LIC new premium more than doubles in June

LIC new premium more than doubles in June

Led by LIC, life insurers’ collective new premium income jumped 94% to ₹32,241.33 crore in June this year, according to data from Insurance Regulatory and Development Authority (Irdai).

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July 15, 2019

Insurance Uncovered

Insurance Uncovered

Since 2004, I have been subscribing to The New India Assurance’s Mediclaim, where the premium for my ₹5-lakh policy has risen sharply, and is now too high for me to continue. I am 66. As a savings bank account holder of Canara Bank, I have taken another policy for ₹10 lakh from Apollo Munich Health Insurance which, being a group insurance cover, is cheaper and has fixed/flat premium for all ages beyond 55.

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July 15, 2019

Motor insurance: Now buy standalone own damage cover

Motor insurance: Now buy standalone own damage cover

Vehicle-owners can now buy standalone annual own damage covers for cars and two-wheelers from any general insurance company. From September 1, insurers cannot bundle own damage and third-party insurance cover compulsory to a policyholder. “For issuance of standalone own damage annual cover as well as for renewal of the own damage component of a bundled cover, insurers shall ensure that own damage cover is offered only if a motor third-party cover is already in
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July 15, 2019

Taking insurance policy is a breeze

Taking insurance policy is a breeze

Personal finance decisions are based on your knowledge of needs and the intricacies of available solutions.

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July 15, 2019

7 common driving tickets that could cause your car insurance bill to spike

7 common driving tickets that could cause your car insurance bill to spike

Car insurance rates vary widely from person to person, but are usually determined by vehicle type, and the driver’s location, age, gender, and driving record. A few of these factors are uncontrollable to the individual – younger people and women tend to be viewed as riskier drivers, regardless of where they fall on other marks.

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July 8, 2019

Budget 2019: TDS on life insurance policies increased

Budget 2019: TDS on life insurance policies increased

Budget 2019 has proposed to raise the tax at source (TDS) limit in the case of life insurance policies from 1 to 5 per cent of the amount to be paid by the insurance companies. Under Section 194DA of the Income Tax Act, 1961, any amount received by the life insurance policyholder from an insurer is subject to TDS of 1 per cent, if the maturity proceeds is not exempted under


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July 8, 2019

Rs 20 insurance to help Indian payment firm double revenue

Rs 20 insurance to help Indian payment firm double revenue

Loans of as little as $30 and life insurance policies for as low as thirty cents a month: that’s what an Indian digital-payment company wagers will double its revenue and help it break even this year.

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July 8, 2019

Merger of non-life PSUs on cards?

Merger of non-life PSUs on cards?

The Union Budget has created necessary legislative headroom.

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July 8, 2019

You get health insurance despite lifestyle disease but at higheer premium

You get health insurance despite lifestyle disease but at higheer premium

India is home to the largest number of diabetics and heart patients in th eworld. Consequently a large population does not have access to the helath cover.

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July 8, 2019

Can’t deny third party compensation for lapsed temporary RC, ..

Can’t deny third party compensation for lapsed temporary RC

An insurance company cannot avoid paying the compensation for lapsed Rc

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July 8, 2019

THE AI IN INSURANCE REPORT: How forward-thinking insurers are using AI to slash costs and boost customer satisfaction as disruption looms

THE AI IN INSURANCE REPORT: How forward-thinking insurers are using AI to slash costs and boost customer satisfaction as disruption looms

The most valuable area in which insurers can innovate is the slash disruption looms.

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July 5, 2019

Life insurance policy sees a 5% dip in May

Life insurance policy sees a 5% dip in May

Big daddy LIC’s poor performance in selling life policies i ..

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July 5, 2019

Economic Survey 2019 Health insurance plans need to be simplified to buy

Economic Survey 2019 Health insurance plans need to be simplified to buy

The survey says that there is asymmetrical information such as high variability of health care expenditures which often leads people to making health-related decisions which are not in their best interests. These harmful decisions range from not buying health insurance or engaging behaviour such as smoking and drug abuse.

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July 5, 2019

LIC Customer Can Now Auto Pay Their Insurance Premiums

LIC Customer Can Now Auto Pay Their Insurance Premiums

LIC customers can now breathe a sigh of relief as now they can auto pay their future renewal premiums for their various LIC policies by adding the insurance in the list of billers. So, no longer you will have to worry about remembering the due date for your policy premium payment or even stand in the queue to make the deposit.

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July 5, 2019

Minimize GST slab for health insurance premiums

Minimize GST slab for health insurance premiums

“In this budget, we are looking forward to the government increasing its overall earmark on the health sector. An important recommendation which is being voiced collectively by the industry is to remove GST or minimize GST slab for health insurance.

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July 5, 2019

Budget 2019: It is critical that FM takes care of healthcare industry

Budget 2019: It is critical that FM takes care of healthcare industry

India is a unique country where we have two parallel systems of healthcare delivery, private and state-owned and the number of users is huge in both. So we expect the government to look after expectations of both the systems. The facilities in top-notch private and government setups are same but the sheer load in government hospitals affects their efficiency badly. Hence majority of quality healthcare is being provided by
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June 28, 2019

Budget 2019: Young insurable population, retirement planning to support Indian life insurance growth

Budget 2019: Young insurable population, retirement planning to support Indian life insurance growth

Life insurance industry premium has soared over 41% in May with new business grew by 15.92% and overall growth of 63.05% on account of increase in ticket size. Increase in revival period of non-linked policies for life insurance from 2 to 3 years to promote existing policyholders to continue on paying premiums on tough liquidity position in the existing market scenario with fixed surrender value after 2
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June 28, 2019

Insurance Review: Max Life Smart Term Plan; Options galore to customise as per need

Insurance Review: Max Life Smart Term Plan; Options galore to customise as per need

A term insurance plan is a low-cost, high cover plan in which the sum assured is paid to the nominee if the death of the insured happens within the policy term. It has no maturity value such as a car insurance policy. The popularity of Term insurance plans may be gauged from the findings of a recent survey that found, “While a reasonable 65 per cent of
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June 28, 2019

HDFC Ergo-Apollo Munich merger won’t hurt existing policy contract

HDFC Ergo-Apollo Munich merger won’t hurt existing policy contract

HDFC Ltd acquired 51.2 per cent stake in Apollo Munich Health Insurance. This will be a two-stage process. In the first stage, Apollo Munich would be held as a subsidiary of HDFC.

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June 28, 2019

How AI Can Influence Customers Finalise An Insurance Product

How AI Can Influence Customers Finalise An Insurance Product

Imagine a scenario where an individual has a medical condition and is admitted in a hospital. As soon as he is admitted, he is told by the medical staff that he is covered under health insurance and that his treatment is cashless. Such a case would be called insurance claim utopia for the policyholder, especially when compared with the hassles of claiming medical insurance today.

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June 28, 2019

Insurance Policy For Rs 20? Mobikwik, Max Bupa Launch Satchet-Sized Insurance Products For India

Insurance Policy For Rs 20? Mobikwik, Max Bupa Launch Satchet-Sized Insurance Products For India

MobiKwik believes that even though there are multiple insurance products to choose from in the country, majority of people cannot avail them due to their high prices. Insurers have products for individuals who have monthly income of Rs 40,000 and above.

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June 27, 2019

Max Bupa in pact with MobiKwik for health insurance

Max Bupa in pact with MobiKwik for health insurance

Health insurance provider Max Bupa on Wednesday announced a partnership with fintech platform MobiKwik to promote bite sized group health insurance products for MobiKwik’s 107 million customers across the country, according to a release.

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June 27, 2019

When is the right time to buy life insurance?

When is the right time to buy life insurance?

Vijaywada-based Harsh Raj G, has a life insurance policy, even though he is only 24 and doesn’t have any dependants. He was 19 when his father bought the policy which is a combination of an endowment and a whole life plan “My father was going to retire soon and I would start working in some time, so he thought it was the right time to buy a life insurance policy for
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June 27, 2019

Insurance Industry In India Has A Long Way To Go, Says HDFC Life’s Vibha Padalkar

Insurance Industry In India Has A Long Way To Go, Says HDFC Life’s Vibha Padalkar

“The insurance industry in India is at its beginning point and has a long way to go, according to HDFC Life Insurance Co. Ltd.’s Vibha Padalkar.

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June 27, 2019

New-age digital push help private life insurers gain market share

New-age digital push help private life insurers gain market share

According to latest from IRDAI (Insurance Regulatory and Development Authority of India), the market share of LIC in terms of first year premium up to 31st May 2019 was 66.08 per cent, down from 67.40 per cent up to 31st May 2018, according to the business figures of insurance companies published by the IRDAI a few days back.

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June 27, 2019

Getting a health cover for senior citizens is difficult, but not impossible

Getting a health cover for senior citizens is difficult, but not impossible

Noida-based resident Sumeet Chauhan, 60, is a worried man these days. Having recently retired from a job in the private sector, he has realised that he no longer has the group health insurance cover that his company provided.

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June 27, 2019

Now get digitally enabled quality health insurance solutions with MobiKwik

Now get digitally enabled quality health insurance solutions with MobiKwik

Max Bupa today announced a strategic partnership with MobiKwik to promote affordable and convenient bite-sized group health insurance products for MobiKwik’s 107 Million customers across the country.

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June 27, 2019

For universal access to public healthcare

For universal access to public healthcare

Prime Minister Narendra Modi’s flagship health insurance scheme, Ayushman Bharat, officially called the Pradhan Mantri Jan Arogya Yojana (AB-PMJAY), has been widely lauded since it was launched last year. Various states are in the process of rolling it out. Its aim of picking up the illness bills of 500 million of the country’s most vulnerable is hard to argue against. But with the sorry spectacle presented by Bihar in dealing with a deadly encephalitis
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June 27, 2019

Low sum assured offsets benefits of guaranteed returns insurance policies

Low sum assured offsets benefits of guaranteed returns insurance policies

While life insurance policies are ideally meant to cover risk to life of the insured, many policies available in the market also have a savings component attached to them. Guaranteed return investment policies also fall in the category of life insurance policies that have a combination of savings and insurance.

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June 27, 2019

Why is third-party motor insurance cover mandatory?

Why is third-party motor insurance cover mandatory?

The Supreme Court in July last year made it mandatory for all car owners to have a three-year TP policy and two-wheeler owners to have a five-year policy. You can buy TP cover at the time of registering your vehicle from any non-life insurer. According to Irdai, third-party property damages are covered up to a sum of ₹7.5 lakh. If the degree of damage is beyond the insurance cover, the policyholder


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June 27, 2019

Senior Citizen Health Insurance: Here’s all you need to know

Senior Citizen Health Insurance: Here’s all you need to know

It is said that age is just a number. This thought is productive from a motivational point of view. However, from a practical point of view, one must look at age more analytically. The Human body is subject to deterioration. As the body ages, its immune system becomes weak. And with the rise in pollution, lifestyle-related issues, and other such hazards, it becomes extremely challenging for the human body to maintain
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June 27, 2019

New motor insurance rules: 3 options to get car and bike cover now

New motor insurance rules: 3 options to get car and bike cover now

Almost a year back, the Insurance Regulatory and Development Authority of India (IRDAI) had asked insurance companies to offer long-term insurance policies for new cars and two-wheelers purchased on or after September 1, 2018. From September 1, 2019, the guidelines are being relaxed by the regulator. “Till now the customer had to buy the Own Damage (OD) component along with the Third Party component in the form of
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June 27, 2019

Life insurance is confusing—here’s everything millennials need to know

Life insurance is confusing—here’s everything millennials need to know

The last thing you want to think about in your twenties (er, anytime?) is your own death. It’s difficult enough to juggle brunch plans, your love life and your micromanaging boss, let alone plan for what could happen to you decades from now.

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June 27, 2019

50 years of age not late for term insurance

50 years of age not late for term insurance

Retired senior citizens or those on the edge of retirement will also have some financial challenges or liabilities that are far from being settled such as home loan. And also may have dependent family members – parents, spouse and children. Though every term plan has an age eligibility criterion and may vary from one insurance company to the other as do the features of the policy. Nevertheless, if you are in
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June 26, 2019

Own damage motor insurance can now be bought separately

Own damage motor insurance can now be bought separately

Come September 1, motor vehicle owners will be allowed to purchase standalone own damage (OD) insurance cover. An OD cover insures the vehicle against theft and damages. The guidelines will be applicable for all new and old cars and two-wheelers. At present, the industry practice is to bundle OD insurance with third party (TP) insurance policy. TP liability insurance covers the insured if he is held legally liable for damages caused
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June 26, 2019

SBI Life offer comes at below its listing price; should you invest?

SBI Life offer comes at below its listing price; should you invest?

Shares of SBINSE 0.24 % Life Insurance will be available at Rs 670 a piece to retail investors on Wednesday through an offer-for-sale, lower than their IPO price of Rs 700 per share two years ago. But analysts are not bullish on the stock in the near term as they see several challenges before the company. Investors with a long-term horizon though can subscribe to the OFS given
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June 25, 2019

Insurers seek GST exemption on insurance premium 

Insurers seek GST exemption on insurance premium

Like in all life insurance policies, insurance premium consists of two components namely, amount of service cost and amount invested. GST should be levied on the amount of service cost and not the amount invested as it is refunded to the insured person at the time of maturity. The Government should develop a valuation mechanism wherein GST should be levied on the service part only. This will, in turn, provide impetus to the people
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June 25, 2019

Why unit-linked insurance plan should be in your investment portfolio

Why unit-linked insurance plan should be in your investment portfolio

ULIPs fulfil your need for both investment and protection. Apart from investing in market linked funds, ULIPs primarily provide life cover ensuring a greater scope for the family of insured. This means family gets financial compensation in case of sudden death of the insured person. Some investors may argue that extent of Life cover available in ULIPs is not as high as may be provided by term insurance plans, but
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June 25, 2019

Bajaj Allianz Life Insurance to enter health and pension products in a big way

Bajaj Allianz Life Insurance to enter health and pension products in a big way

Bajaj Allianz Life Insurance Co (BALIC) plans to get into ‘health and fitness’ and ‘pension’ products in a big way after a survey conducted by the insurer threw up retirement, fitness, and health among the key life goals of Indians, a top company official said.

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June 25, 2019

Now buy stand-alone own damage motor insurance cover from September

Now buy stand-alone own damage motor insurance cover from September

The Insurance Regulatory and Development Authority of India (IRDAI) has made way for standalone own-damage motor insurance covers for vehicles. In a circular issued on Friday, the insurance regulator said effective September 1, 2019, issuance of bundled own-damage policies for cars and two wheelers will no longer be compulsory.

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June 25, 2019

Do you need a dengue-specific health cover?

Do you need a dengue-specific health cover?

Coimbatore-based Hani Harrise, 21, was diagnosed with dengue in August 2015. His platelet count dropped to 40,000. Platelet count between 150,000 and 450,000 for every microlitre of blood is considered healthy. “I was hospitalized for 10 days because the situation was severe. I didn’t have health insurance, so we ended up spending around ₹28,000 for my treatment,” said Harrise. Fortunately for Harrise, his family was able to absorb the unforeseen cost, but that
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June 25, 2019

State insurance schemes have failed the poor

State insurance schemes have failed the poor

A comprehensive analysis of the social impact of rising inequality released on Monday by former Prime Minister Manmohan Singh has blamed State policies for catastrophes like the outbreak of Acute Encephalitis Syndrome (AES) that has resulted in 120-plus deaths in Bihar.

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June 25, 2019

Millennials opting for non-conventional life goals, insurance remains top investment choice

Millennials opting for non-conventional life goals, insurance remains top investment choice

Millennials in India prefer buying life insurance as the most preferred investment option to meet majority of their life goals, even as unconventional life goals such as health, fitness, travel and life enrichment are gaining traction, a survey on life goals preparedness said on June 24.

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June 25, 2019

Insurance for all reasons

Insurance for all reasons

Most of you may be familiar with health insurance and life insurance policies. But did you know you can get insurance cover against loss of cash? If you are planning a wedding, you get a cover for it too. However, remember that insurance cover is for protection – don’t look at it as an investment. The purpose of an insurance cover is to protect you financially against unforeseen events. Here’s a look at insurance covers other
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June 24, 2019

Insurance claim can’t be denied due to delay: Consumer forum

Insurance claim can’t be denied due to delay: Consumer forum

Insurance claim can’t be denied due to delay: Consumer forum
A delay in filing an insurance claim cannot be used as a real

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June 24, 2019

HDFC acquires Apollo Munich Health Insurance. What this means for a policyholder

HDFC acquires Apollo Munich Health Insurance. What this means for a policyholder

Mortgage major, HDFC, Wednesday agreed to acquire Apollo Hospitals Group’s entire 50.8 percent stake in Apollo Munich Health Insurance for Rs 1,336 crore and also the 0.4 percent stake held by a few employees for Rs 10.84 crore. So, what does this mean for the policyholder? ET Wealth answers queries you might have as a policyholder

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June 21, 2019

Budget 2019: Will GST be removed on health insurance premium in the upcoming budget

Budget 2019: Will GST be removed on health insurance premium in the upcoming budget

Budget 2019 India: Union Budget 2019 India may give a fresh look at the health insurance industry paving way for lower cost in terms of premium paid towards medical insurance and giving incentives in terms of higher deductions from total income in order to boost the sector.

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June 21, 2019

A look at how Life Insurance Corporation has managed to retain its vice-like grip

A look at how Life Insurance Corporation has managed to retain its vice-like grip

India’s life insurance market is crowded and fiercely competitive with 24 players jostling for a share of the expanding market. And 19 years after the entry of private players, state-owned Life Insurance Corporation (LIC), which had enjoyed a total monopoly for 44 years, remains the dominant player albeit with a reduced market share of two thirds and the remaining 23 players sharing the remaining one-third of
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June 21, 2019

Max Life Insurance launches customizable ‘Max Life Smart Term Plan’

Max Life Insurance launches customizable ‘Max Life Smart Term Plan’

Max Life Insurance Co Ltd (‘Max Life’/’Company’), one of country’s leading life insurance companies, today announced the launch of its customizable ‘Max Life Smart Term Plan’, that will offer customers the flexibility to customize their own protection solution by selecting from a wide range of benefits and features.

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June 21, 2019

Apollo Hospitals looks to raise up to $200 mn by selling stakes in more units

Apollo Hospitals looks to raise up to $200 mn by selling stakes in more units

Apollo Hospitals Group is looking to sell its stake in two more subsidiaries to raise up to $200 million, two people directly aware of the matter said on Thursday, a day after it agreed to sell its stake in a health insurance joint venture to HDFC Ltd.

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June 21, 2019

Where Should Healthcare Industry go Forward?

Where Should Healthcare Industry go Forward?

Technology plays a vital role in everything and every industry across the globe — yet healthcare lags behind. “Technology is solving real problems, some of them trivial, some pretty serious, but it feels a little odd that we’re not applying it into the world of health,”

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June 20, 2019

HDFC to buy 51.2% in Apollo Munich Health for ₹1,347 crore

HDFC to buy 51.2% in Apollo Munich Health for ₹1,347 crore

Housing Development Finance Corporation (HDFC) on Wednesday announced that it would be acquiring 51.2 per cent stake in Apollo Munich Health Insurance and would be later merging it with its general insurance arm HDFC Ergo. The two-stage transaction, which is subject to regulatory approvals, is priced at about ₹1,347 crore. HDFC will pay about ₹73.2 per share to Apollo Hospitals for the acquisition.

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June 20, 2019

Automobile classified startup CarDekho forays into insurance segment with InsuranceDekho

Automobile classified startup CarDekho forays into insurance segment with InsuranceDekho

Life insurers’ new biz premium grows 43% in May

InsuranceDekho aims to make the process transparent through its advisory-led model and provide the best-in-class post-sales experience.

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June 20, 2019

Buying your first term plan? Keep these steps in mind

Buying your first term plan? Keep these steps in mindWith youth comes a sense of carefree bliss accompanied by a short-term outlook towards life. However, as we age and progress in life, we begin to absorb the significance of planning for the long-term and for a time when we have long gone

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June 20, 2019

Explained: What does ESI rate cut mean?

Explained: What does ESI rate cut mean?

Government says reduced contribution rates will bring relief to workers, encourage more to join formal sector, besides making establishments more viable. Unions say employers benefit more, deal was for smaller cut.
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June 20, 2019

LIC New Money Back Plan-20 Years: Money Backs, Premium, Other Benefits Here

LIC New Money Back Plan-20 Years: Money Backs, Premium, Other Benefits Here

This January, CarDekho had announced its Series C fundraise of $110 million from Sequoia India, Hillhouse, CapitalG (Alphabet growth investment arm), and Axis Bank. It had then said that the fresh funds would be used to enhance the company’s focus on transaction services, including insurance and financing.

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June 18, 2019

Life insurers’ new biz premium grows 43% in May

Life insurers’ new biz premium grows 43% in May

“New business premiums for life insurance companies grew 43.43% to Rs 18,414.02 crore in May, with state-run Life Insurance Corporation of India (LIC) growing at a faster pace than private insurers, showed data from the Insurance Regulatory and Development Authority of India (Irdai). Market participants attribute this growth largely to a surge in group business.

The data from Irdai show private players saw new business premiums at Rs 4,917.34 crore in

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June 18, 2019

Future Generali India Life Insurance unveils campaign #PapasHealthAsliWeath

Future Generali India Life Insurance unveils campaign #PapasHealthAsliWeath

Ahead of Father’s Day and in continuation of its efforts to convey that fathers should not neglect their health while focusing on providing the best for their families, Future Generali India Life Insurance Company Limited (FGILI), has unveiled its latest digital campaign. The campaign consists of videos, other print and engagement assets that urge fathers to realise that their health is the true wealth for their families.

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June 18, 2019

You don’t need a driving licence to buy a motor insurance policy

You don’t need a driving licence to buy a motor insurance policy

If you’ve bought a new car and want to buy a motor insurance policy but don’t have a valid driving licence, you may think it’s a problem. Though it may seem counter-intuitive, in India, a driving licence is not a mandatory document in order to buy a motor policy.

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June 18, 2019

Look at claims ratio while buying term insurance

Look at claims ratio while buying term insurance

The Insurance industry is highly regulated and all players have to comply with the guidelines of Insurance Regulatory and Development Authority of India (IRDAI). Hence, even private players have to operate within laid down strong governance framework and are reliable. While purchasing a life insurance plan, one should gather details on the insurance provider, the features of the plan, premium to be paid, purchase process, and most importantly, the claims experience.

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June 18, 2019

Opinion | Social media isn’t a reliable source to access info about insurance

Opinion | Social media isn’t a reliable source to access info about insurance

Earlier this month, I was at Delhi’s Jama Masjid during Ramzan. The courtyard was teeming with people watching the sunset and waiting to break their fasts. As I looked out through the arches at the beautiful Red Fort, I could imagine Shah Jahan doing the same 350 years ago. Except, of course, for the official notice at the entrance that said, “No Tik-Tok videos allowed.”

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June 17, 2019

High retail inflation in healthcare pinching pockets

High retail inflation in healthcare pinching pockets

“Farmers are distressed, industrial producers have taken a hit, but the same cannot be said of health service providers. A detailed analysis of data related to rates of retail inflation reveals that cost of health care services is on the rise.”

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June 17, 2019

Medical Insurance: Act in Good Faith

Medical Insurance: Act in Good Faith

In a recent judgment, the Supreme Court said that failure on the part of a person to reveal his past history of disease is valid ground for repudiation of his insurance policy benefits. A bench of Justices DY Chandrachud and Hemant Gupta in Life Insurance Corporation of India vs Manish Gupta said that a contract of insurance involves “utmost good faith”, and the failure of the insured to disclose his past history of cardiovascular
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June 17, 2019

AI to soon transform auto insurance biz in India

AI to soon transform auto insurance biz in India

To make the auto insurance process more efficient, Indian insurance company ICICI Lombard has recently joined hands with Microsoft to offer country’s first artificial intelligence (AI)-enabled car insurance claiming feature.

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June 17, 2019

Overseas travel insurance policy: travel easy and safely

Overseas travel insurance policy: travel easy and safely

We saw the benefits of a hospitalisation policy while travelling abroad in the previous instalment of Cover Note. What about several other niggling fears and threats that interfere with enjoying your break abroad or focussing on work?

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June 17, 2019

Life insurance may be a good option for investors in long run: Experts

Life insurance may be a good option for investors in long run: Experts

Recent data on insurance premiums earned by life insurance companies points to a positive trend, with May being the second consecutive month of strong 27 per cent premium growth for private-sector life insurers. Some of the robust growth is reflected in the stock prices of top-listed life insurers such as HDFC Standard Life (HDFC Life) and SBI Life, which are up 16 per cent since April 2019,
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June 14, 2019

What Harsh Vardhan should do to revamp India’s health sector

What Harsh Vardhan should do to revamp India’s health sector

sxty-four-year-old Dr Harsh Vardhan, a physician by training, coming on a bicycle for his first day to work at Nirman Bhavan, the headquarters of the Union health ministry, on June 3 may have impressed legions of supporters in the capital’s Chandni Chowk constituency he represents in the Lok Sabha.

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June 14, 2019

Max Life: Term insurance plan that returns premium, provides cover for critical illness; Should you buy?

Max Life: Term insurance plan that returns premium, provides cover for critical illness; Should you buy?

Term insurance plans are the simplest and purest form of life insurance. If you have financial dependents and do not have adequate life cover, a term plan is a right tool to ensure their income replacement. The minimum life cover, according to thumb rule, suggests an amount equal to at least seven times of one’s annual take-home pay.

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June 14, 2019

5 important facts about car insurance

5 important facts about car insurance

The Motor Vehicles Act, 1988, mandates all car owners to at least own a third-party insurance cover. No motor vehicle owner can drive his or her car without opting for this minimum protection. You can be penalised if you are found driving without a valid car insurance policy. Motor insurance protects your vehicle and provides coverage in case it suffers damage due to any reason.

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June 14, 2019

Private insurers continue strong growth in May, smaller ones gain more

Private insurers continue strong growth in May, smaller ones gain more

That Life Insurance Corporation of (LIC) India is losing market share to private insurers hand over fist over the last several years is well known.

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June 14, 2019

Life insurers’ new premium in May jumps 43% to ₹18,414 cr

Life insurers’ new premium in May jumps 43% to ₹18,414 cr

Life insurers’ collective new premium income grew by over 43 per cent to ₹18,414.02 crore in the second month of the current fiscal, according to IRDAI data.

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June 13, 2019

IDBI Bank Ltd. enters into standalone health insurance tie-up with Max Bupa

IDBI Bank Ltd. enters into standalone health insurance tie-up with Max Bupa

One of the latest disruptors is U.K. insurtech startup Neos, whose connected home technology enables policyholders to insure and actively look after their home via a smartphone app.

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June 13, 2019

The Former Insurance Industry Employee Who Is Shaking Up The Sector

The Former Insurance Industry Employee Who Is Shaking Up The Sector

So many traditional industries are being shaken up by entrepreneurs who previously worked in the sector, and insurance is no exception.

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June 13, 2019

Car Insurance: How to prepare your car for the upcoming monsoon season

Car Insurance: How to prepare your car for the upcoming monsoon season

As the monsoon season is coming, rather than doing your own prediction on whether or not the IMD will get its prediction right on rains across the country, invest in motor insurance and secure your vehicle. Natural disasters, especially cyclone storms and flash floods, are quite common in India and the damages caused by them to life and property run into several thousand crores. The most recent example being
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June 13, 2019

When and why you should buy health insurance plan, here’s all you need to know

When and why you should buy health insurance plan, here’s all you need to know

Health insurance is among the most important financial product which provides monetary support during a medical emergency. While choosing a health insurance plan, it is important to look for plans which offer safety and security during times of uncertainty.

 

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June 12, 2019

Third Party Insurance For Cars, Two Wheelers To Become Costlier From June 16

Third Party Insurance For Cars, Two Wheelers To Become Costlier From June 16

Car and two-wheeler insurance will cost more from June 16 with regulator Insurance Regulatory and Development Authority of India increasing the mandatory third party motor insurance premium by up to 21 percent for certain categories. Normally, the mandatory motor TP insurance cover rates are revised from April 1. However, this time, the new rates for the fiscal 2019-20 will be applicable from June.

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June 12, 2019

Can insurance claim be denied on presumption of pre-existing disease? No says NCDR

Can insurance claim be denied on presumption of pre-existing disease? No says NCDR

The NCDR has held that an insurance claim cannot be denied on mere presumption that a person might be suffering from a pre-existing disease. The National Consumer Disputes Redressal Commission (NCDRC) said even if the insured person was suffering from a disease and did not know about it nor was taking any treatment for the same, the claim cannot be denied by an insurance company.

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June 12, 2019

Tata Memorial Hospitals to extend cashless facility to Reliance Health Insurance customers.

Tata Memorial Hospitals to extend cashless facility to Reliance Health Insurance customers.

Reliance Health Insurance has partnered with TATA Memorial Hospital to introduce cashless treatment facility to its customers across major Tata Memorial hospitals in India. Tata Memorial has been a front runner as far as treatment of cancer patients in India is concerned and has contributed significantly in the field of cancer treatment.

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June 12, 2019

Insurance claim cannot be denied on presumption of pre-existing disease: NCDRC

Insurance claim cannot be denied on presumption of pre-existing disease: NCDRC

The NCDRC, the apex consumer commission, has held that an insurance claim cannot be denied on mere presumption that a person might be suffering from a pre-existing disease. The National Consumer Disputes Redressal Commission (NCDRC) said even if the insured person was suffering from a disease and did not know about it nor was taking any treatment for the same, the claim cannot be denied by an insurance company.
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June 12, 2019

Plea to cover mental illness treatment in insurance plan

Plea to cover mental illness treatment in insurance plan

Madurai: The state government has been directed to file a counter to a public interest litigation (PIL) which sought to include the treatment for mental illness under the chief minister’s comprehensive health insurance scheme (CMCHIS) in the state.

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June 12, 2019

Why Getting a Travel Insurance Before a Trip is Important

Why Getting a Travel Insurance Before a Trip is Important

There’s nothing worse than going off on an amazing holiday only to worry about lost luggage or luggage stuck at an airport. While you can’t control unfortunate mishaps, there’s definitely precautions that you can take. Travel insurance is an indispensable part of planning a national and an international trip; one that you regret not taking when things start to go awry.

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June 12, 2019

Motor insurance policy will not pay the full cost of vehicle damage repair; Know what you can do about it

Your motor insurance policy will not pay the full cost of vehicle damage repair; Know what you can do about it

As per the Motor Insurance Act, only the third-party motor insurance cover is mandatory in India. This insurance plan provides coverage to the third party. It includes any legal liability brought against the third party vehicle’s owner, including death or physical injury to a third party. While the third party cover includes damages caused to the third party property
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June 12, 2019

Life insurance product approvals to gain pace after Member-Life appointment

Life insurance product approvals to gain pace after Member-Life appointmentp

Approvals for the re-filed policies under the new regulations for the life insurance sector would continue in full swing only after the Member-Life at the Insurance Regulatory and Development Authority of India (IRDAI) is appointed.

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June 12, 2019

Max Life Insurance launches unique ‘My Protection Quotient’ tool on second ‘Protection Day’

Max Life Insurance launches unique ‘My Protection Quotient’ tool on second ‘Protection Day’

Max Life Insurance Co. Ltd. (‘Max Life’/’Company’), one of India’s fastest growing life insurance companies, today announced the launch of a unique proprietary tool, ‘My Protection Quotient’ (MyPQ) further fortifying its commitment to ensure financial protection in the country.

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June 12, 2019

Max Life to focus on driving proprietary channel growth: Prashant Tripathy

Max Life to focus on driving proprietary channel growth: Prashant Tripathy

There is now sharp prioritisation and certainly a bias for action. Mere planning alone is not enough; there has to be no faltering on execution, which has to come with a ‘growth mindset’. I have now brought ‘customer obsession’ and ‘growth mindset’ to the centrestage by including them as part of the four values that the company will focus on in the coming days. The four core values are
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June 12, 2019

Investing in affordable health insurance plans: Here’s every ..

Investing in affordable health insurance plans: Here’s every

Health insurance is a long-standing investment tool that has been ignored by many of us. Despite having multiple affordable health insurance plans in India, less than 20% of the entire population opts for a health insurance of any kind. When it comes to investment plans, most young professionals cruise through options that offer higher returns, instead of choosing smart investments that help secure their future

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June 12, 2019

Good connectivity will boost insurance penetration in India, says IBM partner

Good connectivity will boost insurance penetration in India, says IBM partner

The insurance industry in India saw a growth spike after privatisation, but the penetration of products still remains low. IT major IBM’s ‘Insuring India’ study delved deeper into this situation.

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June 11, 2019

Two-wheeler Insurance Rates To Go Up

Two-wheeler Insurance Rates To Go Up

The insurance industry in India saw a growth spike after privatisation, but the penetration of products still remains low. IT major IBM’s ‘Insuring India’ study delved deeper into this situation.

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June 11, 2019

Dental Insurance in India Still Has a Long Way to Go

Dental Insurance in India Still Has a Long Way to Go

When it comes to something as specific as dental insurance in India, it is usually covered under a regular health insurance policy, which may have either in-built OPD cover or has been bought as an add-on policy by the policyholder. Traditionally insurance policies cover dental treatment if any mishap is caused by accident.

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June 11, 2019

Union Budget 2019: Govt may announce infusion of Rs 4,000 crore in public sector general insurance companies

Union Budget 2019: Govt may announce infusion of Rs 4,000 crore in public sector general insurance companies

The government is likely to announce infusion of about Rs 4,000 crore in three public sector general insurance companies to shore up their capital.

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June 11, 2019

Individual vs Family floater plan: Which health insurance should you opt

Individual vs Family floater plan: Which health insurance should you opt

With the increased concern about the well being among people these days, health insurance has become very important. It provides monetary support during any medical emergency. These days there is more awareness on healthcare and medical expenses, which is why people buy health insurance plans

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June 11, 2019

Premium for third-party motor insurance to be raised from June 16

Premium for third-party motor insurance to be raised from June 16

The Insurance Regulatory Development Authority of India (Irdai) has finalised the new premiums for the third-party liability insurance cover for FY20, which will come into effect from June 16. Earlier, it had issued an exposure draft on May 20, proposing a hike in motor third party insurance premiums and had invited comments from various stakeholders.

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June 11, 2019

IRDAI okays insurance for e-vehicles, quadri-cycle

IRDAI okays insurance for e-vehicles, quadri-cycle

Chennai: Insurance regulator IRDAI has approved a third-party motor premium increase of 4.4% for bikes and 12% for cars. The regulator has also introduced two new categories — electric vehicles and a quadri-cycle, an upcoming segment for intra-city shared mobility.

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June 11, 2019

ICICI Lombard plans sachet-size insurance products; to partner with digital players

ICICI Lombard plans sachet-size insurance products; to partner with digital players

Buoyed by the success of sachet products in the FMCG sector, the insurance industry is now looking to repliacte it.

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June 10, 2019

Manipal group set to own 51% stake in health insurance JV with Cigna

Manipal group set to own 51% stake in health insurance JV with Cigna

Manipal group is all set to increase its stake to 51 per cent in the joint venture standalone health insurance company ManipalCigna Health Insurance. The company has received all regulatory approvals from insurance regulator IRDAI.

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June 10, 2019

Why single parents must have a life insurance policy

Why single parents must have a life insurance policy

With the strict gendered roles, single parenting has for long been frowned upon and disapproved. Yet, instances of single parenting are now getting common in India. The main reason giving fuel to cause single-parent family is because of the permanent absence of a parent from home due to death, divorce or unwed mother. However, these circumstances not only leave your family traumatized but also deprive your child of love by both the
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June 10, 2019

Delhi HC imposes Rs 10 lakh cost on PolicyBazaar for concealing facts to obtain interim order

Delhi HC imposes Rs 10 lakh cost on PolicyBazaar for concealing facts to obtain interim order

The Delhi High Court has imposed Rs 10 lakh cost on online insurance aggregator PolicyBazaar for concealing facts to obtain an ex-parte injunction in a trademark infringement case filed by it against an insurance company.

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June 10, 2019

Budget may usher in timeline to fast track merger of 3 insurance PSUs in FY20

Budget may usher in timeline to fast track merger of 3 insurance PSUs in FY20

The upcoming Budget is likely to provide a timeline roadmap for the long pending merger of the three general insurance PSUs for speeding up the process which was first announced in 2018 Budget.

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June 10, 2019

With fewer exclusions, will health insurance cost more?

With fewer exclusions, will health insurance cost more?

The insurance regulator recently issued a draft on standardizing and rationalizing exclusions in health insurance policies. The draft seeks to redefine terms such as pre-existing ailment to remove ambiguity, seeks to include new lines of treatment due to medical advancement, besides making other customer-friendly recommendations such as giving insurers an eight-year moratorium after which a policy is not contestable except for proven fraud and permanent exclusions.

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June 10, 2019

Look at claims experience while buying insurance

Look at claims experience while buying insurance

Insurance itself is a simple concept in what it offers to do. However, complex jargon and multiple legal terms implore the common man to place their trust in agents. How can this trust be enforced? It is quite simple — Buy what you need not what you are sold. The era of “one cover fits all” approach that insurance companies have been using to draft the policies is being challenged gradually.

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June 10, 2019

Manipal to buy 51% in Cigna health insurance JV

Manipal to buy 51% in Cigna health insurance JV

Billionaire Ranjan Pai-led Manipal Education & Medical Group (MEMG) will increase its stake to 51% in health insurance joint venture with American insurance giant Cigna Corporation. Pai is committing Rs 500 crore towards additional share purchase and expansion plans at a time when several Indian business groups are retreating from health insurance sector.

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June 10, 2019

Living in a rented house? Know if you should buy home insurance or not

Living in a rented house? Know if you should buy home insurance or not

If you are living in a rented house, you may have often wondered as to what will happen if some unfortunate event occurs at the building? What will happen to your things inside the house? Can you insure them? Yes, you can. It is wrong to assume that one should insure only ones own home. Even if you are living on rent, you should buy insurance
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June 10, 2019

How 14 insurance giants have set up an insurtech hub with two accelerators, promoting over 25 startups

How 14 insurance giants have set up an insurtech hub with two accelerators, promoting over 25 startups

Based in Munich, the InsurTech Hub Munich (ITHM) is a cross-sector entrepreneurial platform to collaborate on creating innovative insurance products and services. It connects startups, corporates, universities, research centers, investors, and the government to transform the future of insurance.

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June 10, 2019

Travel Insurance: Taking cover in foreign land

Travel Insurance: Taking cover in foreign land

It is summer, and foreign holiday time! What if you have to go to hospital while abroad? Your hospitalisation policy covers treatment only within India.

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June 7, 2019

Life insurance: Know how a joint life cover works

Life insurance: Know how a joint life cover works

Enter a specialised, short-term policy for hospitalisation outside India. Brand-named Overseas Mediclaim Policy by the public sector general insurance companies or Overseas Travel Insurance, International Travel Insurance and various other names by other companies, it has a cashless medical facility for claims administered through third party administrators operating in the destination countries.

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June 7, 2019

Taking a home loan? Don’t forget that insurance cover

Taking a home loan? Don’t forget that insurance cover

Home loans and education loans are treated as good loans by many individuals. Though they are cheaper than personal loans, they tend to have a longer repayment tenure.

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June 7, 2019

4 money management hacks for single Indian women

<strong>4 money management hacks for single Indian women</strong>
<div>Being single is usually seen as the doorway to freedom and independent decision-making. However, when it comes to money management, being single can have its own pitfalls, more so if you’re a woman.</div>

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June 7, 2019

Power producers cry foul over high insurance costs

Power producers cry foul over high insurance costs

A three times increase in the cost of insuring power projects has irked thermal power generation companies. The higher cost of insurance is being attributed to a February circular by the General Insurance Corporation of India (GIC).

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June 7, 2019

Travel insurance: Do you know these benefits?

Travel insurance: Do you know these benefits?

Everyone wants to have a safe and peaceful vacation.But, some of the frustrating factors of travelling would be, loss of baggage, accident, theft and extra expenses. However, it is always advisable to opt for a travel insurance while planning a vacation. This in return minimizes losses occurring on the trip.

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June 7, 2019

Hero FinCorp may buy Reliance General Insurance

Hero FinCorp may buy Reliance General Insurance

Hero FinCorp, the retail lending arm of Hero MotoCorp Ltd, is in advance talks to buy Reliance General Insurance (RGI) from Reliance Capital at Rs 5,500-6,000 crore valuation, as Anil Ambani continues to deleverage his group balance sheet, said several people aware of the discussions.

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June 7, 2019

Government mulling merger of 3 public sector general insurers, says report

Government mulling merger of 3 public sector general insurers, says report

The government is looking to take the acquisition route for the three public sector general insurance companies, reported The Times of India, citing sources. The final call regarding the move that comes as part of the government’s consolidation exercise will be taken by the new government, it added.

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June 7, 2019

Modi govt should reform insurance for jobs: AIA

Modi govt should reform insurance for jobs AIA

The chief of insurance group AIA has called for the Narendra Modi led government to bring in reforms to increase jobs in the insurance sector. According to the insurance giant’s group CEO and president Ng Keng Hooi, China has moved ahead of India in insurance reforms and has created 10 million insurance agents, although the industry started much later there than in India

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May 29, 2019

Health cover gets better, broader

Health cover gets better, broader

A spate of regulatory reforms have been brought recently and much more is in the pipeline.In terms of providing cover, the reach is being expanded by revisiting present exclusions, which are detrimental to the interests of the policy holders.

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May 29, 2019

Here’s why your company health insurance is not enough

Here’s why your company health insurance is not enough

Most corporate insurance policies’ total coverage comes around Rs 1.5 -2 lakh, which amounts to only 20-30 percent of the total expenditure in case of serious health issues.
Insurance companies, corporates and employers also try to minimise the cost by providing bare-minimum coverage to their employees, such as co-pay and room rent limiting clauses.
In a country like India, where most of the families are dependent solely on one

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May 29, 2019

Focus on India’s banking and insurance

Focus on India’s banking and insurance

There was a time when people could avail of a bank’s services only between 10 am and 2 pm, and only at their specific branch. Today, digital banking and ATMs have ensured that people can bank any time, anywhere. And yet, people still like doing a little banking at their branch.

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May 29, 2019

Cancer insurance: All you want to know on how to prepare for various scenarios

Cancer insurance: All you want to know on how to prepare for various scenarios

The risk of cancer is real. Every year new studies are showing increasing instances of cancer in the country. So, we need not waste time over whether a cancer cover is important.

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May 29, 2019

Save your home and car this monsoon season

Save your home and car this monsoon season

Cyclone storms and flash floods have become very common in recent years. The damage due to Cyclone Fani has run into few thousand crores. While those who have insured their home and vehicles were saved, others faced irreparable loss.Rather than doing a guesstimate on whether the IMD will get its prediction right on normal rains this year, sign up for insurance and secure your properties.

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May 29, 2019

Phygital is the way forward for banks to attract, retain customers

Phygital is the way forward for banks to attract, retain customers

It’s not just mobile and digital channels, but brick and mortar branches too continue to remain a top focus of banks.Most bankers point out that since 2011, mobile and net banking have seen a huge upswing due to improved Internet connectivity and accessibility but concur that physical branches give confidence to customers.

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May 29, 2019

Motor insurance policy expiring soon? You might have to pay a higher premium

Motor insurance policy expiring soon? You might have to pay a higher premium

Is your motor insurance due for renewal in the next few days, or are you planning to buy a new vehicle anytime soon? If yes, get ready to spend more money on your vehicle’s insurance premium thanks to the IRDAI’s (Insurance Regulatory and Development Authority of India) new exposure draft.

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May 29, 2019

HDFC Life Insurance Company Ltd soars 2.26%, rises for third straight session

HDFC Life Insurance Company Ltd soars 2.26%, rises for third straight session

HDFC Life Insurance Company Ltd is quoting at Rs 417.15, up 2.26% on the day as on 12:54 IST on the NSE. The stock is down 15.08% in last one year as compared to a 11.63% gain in NIFTY and a 22.31% gain in the Nifty Financial Services index.

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May 29, 2019

Nellore: Insurance firm told to pay Rs 1.4L to claimant

Nellore: Insurance firm told to pay Rs 1.4L to claimant

The District Consumer Forum in Prakasam directed an insurance company to pay Rs 1,44,131 to a customer when the firm attempted to deny an insurance claim for repairs to a car after it met with an accident under the pretext that it was being used for business.

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May 29, 2019

Can NRIs purchase life insurance in India? Find out

Can NRIs purchase life insurance in India? Find out

An NRI need not be present while buying the policy; he or she can purchase the policy from his or her current resident country either through online mode or by communicating via written communication with the insurer.

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May 29, 2019

Buying life insurance policy? 7 things you should keep in mind

Buying life insurance policy? 7 things you should keep in mind

Human life is subject to risks that come in the form of death and disability due to natural, accidental or other reasons. The right insurance plan provides you and your loved ones with the much-needed financial security. Yet, people are often ignorant towards insurance.

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May 29, 2019

Buying insurance product for family? Know these 3 things before purchasing

Buying insurance product for family? Know these 3 things before purchasing

Insurance is not just a document or a formality but a must have investment in one’s portfolio. Insurance cover protects you against uncertain situations, be it an accident, medical emergency, death or disability. There are number of insurance products in the market according to the customers’ needs.

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May 29, 2019

Viewpoint | A quick and simple guide to insurance for people in their 20s

Viewpoint | A quick and simple guide to insurance for people in their 20s

As the young are job mobile, a personal policy is better, even if the employer provides health insurance benefits. Also, a personal health policy works when they frequently work in small outfits that don’t offer health cover

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May 28, 2019

Here’s why you should opt for a health insurance plan at an early age

Here’s why you should opt for a health insurance plan at an early age
The changing lifestyles, food habits, increasing pollution and rising medical expenses, healthcare requires more attention today. Opting for health insurance at an early age has become necessary owing to the rising health risks and increase in the cost of healthcare. Besides, an early health insurance comes with its own advantages

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May 20, 2019

How to choose right cancer plan.

How to choose right cancer plan.

How to choose right cancer plan.

As per WHO report by end of 2020 every Indian family will have at least one cancer patient, the disease is rising rapidly, so it very critical to explore the possible financial additional help for policy holder if they choose the right protection policy to get best treatment and cure better in right time so there are more then 10 insurers offer best cancer care plans please
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May 20, 2019

Digital human interface for millennials – India Life insurance Industry

Digital human interface for millennials – India Life insurance Industry

In India currently 85% of consumers buying life insurance from agent, brokers etc, slow this trend will change millennials would like to compare , buy policy from multiple insurance quotes to get best coverage benefits and premium before they jump to conclusion to buy policy, currently 55 million people are searching insurance online as per IRDA annual report , however only 6.5 million policies sold online this trend is
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May 20, 2019

Why do we need add critical illness cover to your health Policy.

Why do we need add critical illness cover to your health Policy.

A medi claim or health policy or hospitalisation policy is insurance cover under this policy which can claim the actual cost incurred for hospital expenses incurred due to illness this is called an indemnity policy. The benefit of critical illness policy on the other hand, pays the sum insured when an insured policy holder has event takes place, regardless of how much you spend to recover

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May 20, 2019

How to choose the insurance investment policy?

How to choose the insurance investment policy?

Insurance investment policy is double benefit for policy holder, first benefit is protect investment and second benefit life coverage benefits to policyholder.There are plans will provide guaranteed returns and also there are plans which is link to investment plans which is link to performance of investment..Non-participating plans traditional savings plans of insurance companies offer returns of 4.5-6% and are tax-free. Further, you can find more plans and compare Life insurance policy at https://insuremile.in
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May 20, 2019

Why senior citizens need term Insurance policy?

Why senior citizens need term Insurance policy?

A term insurance policy is usually preferred by a working persons to protect financial loss. Upon their death of policyholder, the insurer will pay a sum assured to their nominees whose long term income needs will be taken care of based on terms and conditions of policy. The same financial challenges may be someone who has getting old or is on the verge of retirement. The Senior citizens may also have

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May 15, 2019

Do you know about IRCTC and Ola insurance coverage? Here’s all you need to know

Do you know about IRCTC and Ola insurance coverage? Here’s all you need to know

Do you know that app-based platform Ola and Indian Railway Catering and Tourism Corporation (IRCTC) offer insurance coverage during the travel? The cover provided by them is available for a premium as low as Rs 0.49. The premium for Ola in-trip insurance cover is at Re 1 for daily rides, Rs 10 for Ola Rentals, and Rs 15 for Ola outstation. However, the premium
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May 15, 2019

These insurance products will help you reduce your liability from natural calamities

These insurance products will help you reduce your liability from natural calamities

New Delhi: Natural calamities can strike anytime. While nobody can prevent such a disaster, we can reduce our liabilities arising out of these events by having the right insurance cover, say experts. Here are some insurance plans that will help you reduce your liability in case of natural calamities. Home insurance While life, health and auto insurances are the most common product bought in India, hardly people
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May 14, 2019

Combi insurance plans are not for all

Combi insurance plans are not for all

In April this year, Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance together launched a new insurance product that benefits those interested in securing their lives and health against contingencies. The new combi product called Bajaj Allianz Total Health Secure Goal is said to combine the features and effectiveness of both health insurance and term insurance plans. Sasikumar Adidamu, chief technical officer, Bajaj Allianz General Insurance, says, “It is a combination of
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May 14, 2019

Increase insurance cover with rise in income and change in lifestyle

Increase insurance cover with rise in income and change in lifestyle

I am 35 years old. Five years back, I had purchased a term insurance plan of Rs 50 lakh for 30 years. At that time, it was 10 times my annual income. But now my salary has increased. Can I increase my insurance? Can I add to my existing policy? If I change my insurance company, will I lose out any benefits? – Ajitesh KumarFirstly, based on the
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May 14, 2019

Airtel, HDFC Life Insurance to offer free cover for prepaid customers

Airtel, HDFC Life Insurance to offer free cover for prepaid customers

Bharti Airtel and HDFC Life Insurance have tied up to offer life cover for customers who get a prepaid recharge done.Airtel’s new ₹249-prepaid bundle — which will include 2 GB data, unlimited calls across networks, and 100 SMSes per day — will also offer a cover worth ₹4 lakh from HDFC Life. “The recharge is valid for 28 days and and the policy cover till recharge is active. A
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May 14, 2019

Opinion | When fraud gets a new address and a new name: Robin Hood and Bahu Bali

Opinion | When fraud gets a new address and a new name: Robin Hood and Bahu Bali

What’s so special about Panipat or Noida, or some parts of Punjab? For some it is home, for others these may be places they pass through, the same old crowded roads with slow moving haphazard traffic, the livestock on the roads. Still others may place them vaguely in north India. Others couldn’t care less. But there is something about these places, and
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May 14, 2019

Emerging trends, tech opportunities, tasks in front of the insurance industry

Emerging trends, tech opportunities, tasks in front of the insurance industry

Insurance is that financial product that you wished you had bought when bad times come in the form of an untimely death, a medical emergency, an accident or a theft. India is moving slowly from a country that simply saves more to absorb the risk to one where modern financial product are used to mitigate the risk of future events. This shift shows up in the numbers of the
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May 14, 2019

Airtel partners with HDFC Life to launch prepaid plan with insurance cover

Airtel partners with HDFC Life to launch prepaid plan with insurance cover

Bharti Airtel and HDFC Life Insurance today announced the launch of a Rs 249 prepaid bundle plan which will come up with a Rs 4-lakh life cover (a term plan). The plan will come with 2GB data, unlimited calls to any network and 100 SMSs a day. According to press release by airtel, the recharge is valid for 28 days and and the policy cover till

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May 13, 2019

Not Happy With The Services Of Your Health Insurer? Know How You Can Port Your Policy

Not Happy With The Services Of Your Health Insurer? Know How You Can Port Your Policy

In the last one decade, businesses have become much more customer oriented as they are leaving no stone unturned in meeting every specific needs and requirement of the customers. Talk about your DTH operator, mobile network carrier or car insurer, you don’t have to be attached to unsatisfactory services for your life. With various guidelines offered by the regulatory bodies, you can easily port
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May 13, 2019

Life insurance firms must take inputs from youngsters for customised products, here’s why

Life insurance firms must take inputs from youngsters for customised products, here’s whys

So far as providing life insurance cover to more people is concerned, the performance of the industry has been disappointing as it appears from the IRDAI data released recently regarding the performance of the industry for the year 2018-19. The growth of new business premium (NBP) has been mere 10.73%. LIC is responsible for pulling down the industry average as the state-behemoth achieved only 5.68% growth
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May 13, 2019

Health insurance for women is need of the hour

Health insurance for women is need of the hour

A few years ago mainstream media started recognising this growing breed of superwomen. These were your everyday women, seen in every house who juggled different roles and responsibilities with efficiency and panache. She is at the same time a mother, wife, daughter, daughter-in-law, friend, employee, colleague, home-maker, commuter, earner, and consumer. Juggling these multiple roles is a daily routine and a delicate balancing act that leaves her with very little
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May 13, 2019

How to initiate insurance claims after natural disasters wreck your home

How to initiate insurance claims after natural disasters wreck your home

An extraordinary cyclone came to pass recently, wreaking havoc along India’s eastern coast. Cyclone Fani, a rare April storm, lasted 11 days, making it the longest that any cyclone has lived in the Bay of Bengal. Around 65 casualties have been reported so far, with damages to infrastructure worth thousands of crores. Insurance claims will reportedly touch Rs 3,500 crore. After such disasters, the IRDAI often instructs
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May 13, 2019

Liberty General Insurance sees major potential in Tier2/3 cities; eyes new products, tie-ups

Liberty General Insurance sees major potential in Tier2/3 cities; eyes new products, tie-ups

Private sector Liberty General Insurance is keen on building scale and plans to open 100 new branches this year and is also looking at new products and distribution tie-ups. “We are looking at geographical expansion. In the first six years, we had 60 branches. Now that we are at over ₹1,000 crore of premium and our systems are established, we have decided to grow geographically in Tier-2/3
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May 6, 2019

Can insurance industry make better use of big data analytics? – Livemint

Can insurance industry make better use of big data analytics? – Livemint

Big data has helped the financial services industry, including the insurance industry, evolve like never before. More and more traditional insurers as well as insurtech companies are using data analytics to improve customer experience. But are insurers utilizing big data to its fullest capacity or is there scope to do more? The insurance regulator has already allowed a sandbox, a mechanism to promote and facilitate innovation,

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May 6, 2019

Insurance firm to pay ₹2.66 lakh compensation – The Hindu

Insurance firm to pay ₹2.66 lakh compensation – The Hindu

A District Consumer Disputes Redressal Forum here has directed the Oriental Insurance Company to pay a complainant over ₹2.66 lakh as compensation after it was alleged that the insurance firm had denied a claim with “mala fide intention”. Directing the firm to compensate the complainant, the consumer panel observed, “As a rule, the insurance company while issuing mediclaim policy should subject the insured to medical examination to rule out
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May 6, 2019

Health insurance: A new idea for the old – The New Indian Express

Health insurance: A new idea for the old – The New Indian Express

We often hear our elders speak about ‘saving for the rainy day’. Financial planners often highlight the importance of an emergency fund. It is not without reason. A friend recently admitted his dependent mother to the hospital. She is 75 and has no health insurance. It is the third instance of hospitalisation within four months. While he never complained about the money he had to

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April 29, 2019

Health insurance vs accidental insurance – which one to choose.

Health insurance vs accidental insurance – which one to choose.

Health insurance is one of the common insurance plans that an individual takes while making personal finance management for himself and for the family. However, it has been found that very few go for pure accidental insurance. Lack of awareness about the benefits of an accidental insurance plan over health insurance is the major reason for that. Most of the people think that in case of an accident, hospitalisation
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April 29, 2019

How to choose best motor insurance policy

How to choose best motor insurance policy

Motor insurance is a standard product which is easily portable across insurers. Motor insurance pricing is not fixed. The price varies based on the insurer, the car and the profile of the insured individual. Generally, groups with a large fleet are able to negotiate well with insurers and get a good deal. Further, motor insurance carries no waiting period. Claims can be made from the first day itself, and switching to another insurer
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April 29, 2019

What is covered in insurance against terror.

What is covered in insurance against terror.

The recent serial blasts in Sri Lanka that killed more than 200, including a number of foreign nationals, has delivered a huge blow to the country’s tourist-friendly image. The terror attacks also brought into focus the numerous risks that travellers face, over and above routine ones like loss of checked-in baggage, flight delays and medical expenses. Well-informed travellers, aware of the importance of insurance, take adequate cover to protect themselves against such
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April 29, 2019

How much you need to get protected.

How much you need to get protected.

We cannot deny that life insurance is very important. Being under insured or uninsured and then dying would be tragic for family members dependent on you. One of the most important questions is how much life insurance is needed. There are many types of life insurance products — term plan, Ulips, money back plans and endowment plans. Tax saving insurance instruments are very popular. Usually, people take insurance for Rs 25 lakh, Rs
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April 29, 2019

How to buy the right term insurance policy

How to buy the right term insurance policy

They are well educated, have access to latest information and are very tech savvy. Yet, a recent survey conducted by Max Life Insurance and Kantar IMRB shows that millennials score low when it comes to money matters. Only 45% of the respondents aged below 35 have heard of pure protection term plans and barely 17% have bought such insurance policies. “Millennials follow the YOLO (You Life Only Once) principle. They want
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April 29, 2019

How to buy health insurance for your baby

How to buy health insurance for your baby

On the birth of a child, the parents need to allocate finances for his milestones. While doing so, they must consider buying a health insurance plan as well. This can take care of the medical expenses in case of an unforeseen event or a medical emergency. Type of policy It may not be possible to get an individual health cover for a newborn, but he can be included or added to an
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December 4, 2018

Indian Insurance Buying Behavior

In India, insurance is a risk management factor. This is used to manage the uncertainties of a family after a demise, injury or destruction. Insurance provides financial security to an individual after facing major risks in property, health, life and legal liability. The requirement for an insurance is a dynamic factor for every citizen of the country. The government has taken a lot of steps to ensure its highly growing population. Increase in insurance is directly proportional to the growth

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December 3, 2018

Buying the Health Insurance plans for your family will give you lots of benefits

Health Insurance is a type of insurance that gives coverage of medical and surgical expenses of an individual. As you all know that the medical or the surgical expenses are increasing day by day. Nowadays it has increased so much that many people can’t afford the expenses. So for them, only health insurance will help them a lot. They will provide money in the clinic, hospitals, Healthcare, Practitioner and pharmacy for the treatment of the individuals. In the emergency departments,

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December 3, 2018

General Insurance will give protection from all the unforeseen events

As you all know that life is full of risks and insecurities. We don’t know what is going to happen to us even in the next few minutes. Now we are fine but in the very next moment maybe some unforeseen incident can happen to us. There are some of the things that are very important for our family. They are home, cars, shops, etc. In this matter, the general insurance will play an important role in our life.

 

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December 3, 2018

Motor insurance for the coverage of most unusual causes

Motor insurance is basically a documentation in case any uncertainty happens with the vehicle. This insurance is done for cars, trucks, motorcycle or any other vehicles. In order to provide protection for financial loss or any of the legal issues, motor insurance is done. Coverage is provided for the uncertainty which includes physical damage, injury, theft, any loss due to natural disaster and death cover for the third party liability. Most of the insurance support instant claim and compensation amount

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December 3, 2018

Life insurance to secure your family

Life insurance is a documents assurance given by the insurer to pay a sum of money upon the death of the insured. The insured is required to pay a premium on a yearly basis. This is the amount the insurer covers up on the death of the individual. Life insurance is essential for every individual as it provides financial security for survival after the death of the insured. This benefit given after the death of the individual is called death

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November 29, 2018

To leverage the wealth of future through best life insurance Investment Plans

What are the investment plans?

 

Investment plans are basically a financial asset that provided security to your future and provide enough opportunity for you to think beyond the basics. Most of the insurance plans are somewhere amalgamated to provide enough investment seeking for a wealthy future. These investment plans are broadly divided into 2 types.

 

  • First, which providesreturn based services.

 

  • The other one where the amount is paid only after the policy get matures.
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November 29, 2018

Secure your crops and agricultural land with agricultural insurance

What is meant by the agriculture plan?

Agriculture is one of the largest primary occupations in India. It is the prominent sector that provides food to our country. The cropping pattern may undergo changes due to climatic changes and calamities. Farmers will require funds to recover from natural disasters like storms, heavy rainfall, flood, lightning, drought, cyclones, landslides and so on. There are a number of general insurance agriculture plans available for farmers. The Agricultural Insurance Company of India Ltd

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November 29, 2018

Quintessential lifestyle after retirement with the retirement plans

What is meant by the retirement plans?

 

Retirement Plans actually helps you to design a systematize way for your financial events once you are done with your job. These plans convey enough financial security and assurance of certain amount which makes things quite easy for you to execute. Following the best life insurance retirement plans you get to live your life with the standards you have always followed without compromising on any segment. Retirement plants are actually a kind

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November 29, 2018

Protect unnecessary expenses with a personal accident insurance

What is a personal accident insurance?
Accidents are unexpected and sometimes maybe fatal. In such cases, you will have to spend a lot to recover and come back to normal. That is why you will need a general insurance personal accident quote. A personal accident insurance is very different from life and health insurance. The general insurance personal accident plan covers you during a severe accident or physical illness. Life and health insurance cover only after your death or

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November 29, 2018

Presumptuous liabilities of income replacement life insurance

Income Replacement is a broad term for the amount that is outsourced or invested in an alternative way from the regular income. It is far different from the individuals monthly or regular source of income. In the long run, best life insurance income replacement plans undoubtedly serve the need. As the specified amount of money or income is one of the most important financial assets of any individual, hence the investment of other incoming amounts must be

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November 29, 2018

Go for the monthly income policy to get lots of benefits in your life

Firstly a Monthly Income Plan or MIP is a type of scheme that is mainly related to the mutual fund. In this scheme, the person will receive some amount of money each and every month. In the monthly income plan, you will receive the money after the few months of the deposit of your premium. If you are buying this plan, then your 70% to 80% of income will go to the debts funds and the remaining to the stocks.

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November 29, 2018

Money back life insurance policies that guarantees insurance along with investments for future

Money back life insurance policies are the most widespread type of insurance policies in India. They are mainly used for the financial security of your family. The major feature is the survival benefit. This benefit is a sum of money paid to you by the insurer for your family needs. Themoney back planspay you the survival benefit after you start the policy until the maturity. Money back life insurance quotes are unlike the general insurances that cover you only at

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November 29, 2018

Get benefits at the affordable premium with short term insurance plans

An insurance with short term planis given for a short period of time. The policy term will generally be for a year or a few months. You can choose this life insuranceshort term plan for expenses that can be utilized after a few years of investment. Insurance policies with short terms are available for life and health insurances. These policies give the benefit of low premium costs.
You can easily join an online life insuranceshort term plan with the

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November 29, 2018

Go for the general insurance micro insurance plans to have lots of benefits

What is meant by Micro insurance?

 

Firstly, a micro insurance is a type of insurance policy that is specially developed for low-income people. This type of policy insurance is designed for people to buy insurance coverage who can’t afford to buy the costly insurance. The online generalinsurance micro insurance plans help the low-income people against the suddenly occurring unforeseen events.

 

 

What are the sectors does the micro insurance plans covers?

 

The followings are the sectors which

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November 29, 2018

Dynamic coverage associated with Asset insurance Plans and policies

What is an asset insurance plan?

 

The better investment or most assured amount with the investment is not the actual benefits. When the people and their lives are secured along with the materialistic things say it is vehicles, machinery or other equipment then here lies the most profitable investment. In order to get the peace of mind and financial security, a best asset insurance plan meets the requirement. These plans cover most of the financial assets providing you with

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November 29, 2018

Buy online general insurance travelling insurance plan to travel safe

What is a travel insurance plan?

 

There are lots of people who love to travel from one state to another or from one country to another to spend their vacation with the family or friends. So the travel insurance plan is specially designed for them. Travel insurance plan is a type of insurance policy that covers all the sudden occurring unforeseen events that take place in travelling to abroad or within India.

 

Online general insurance

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November 29, 2018

Avail Insurance Policies with Tax Deductions with These Tax Saving Plans

The term insurance is applicable for life insurances that covers you over a period of time. If the insured dies between that periods, the death benefit will be availed. Life insurance is compulsory for every individual. This benefits the entire family if the insured dies. The family gets a death benefit. This is the major purpose of a life insurance. You need to pay the premium as an amount

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November 23, 2018

Mediclaim health insurance policy: An alternative to health insurance

What is Mediclaim?
The ever increasing cost of healthcare and the rise of lifestyle diseases have made it necessary to have health insurance in India. Further, medical emergencies are expensive and having a mediclaim health insurance policy can help ease the financial strain that comes with hospitalization. A mediclaim plan is an insurance product that offers health cover up to the sum insured in the case of hospitalization.
The insurer either reimburses or enables you

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November 23, 2018

The best preventive healthcare insurance policy for a healthy India

With the rise of a number of deaths related to treatable critical illnesses, there is a need for one to give preventive healthcare the seriousness it deserves. Preventive healthcare helps one to identify and manage diseases in the earliest stage possible. A preventive healthcare insurance policy is designed for this specific purpose.
The best preventive healthcare insurance plan caters for regular check-ups and takes the family history of a policyholder into account. This is done through regular scheduled check-up

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November 22, 2018

Third party motor insurance policy 101

A third Party Insurance policy is the most basic motor insurance plan there is in India. Sometimes referred to as Act Only coverage, this is a legal requirement that is found under the Motor Vehicles Act. This type of insurance aims to compensate the third party in case of an accident. The term third party represents a person, vehicle and property other than the insurance company and the insured.

Why do you need third party insurance?

Apart from a legal

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November 22, 2018

Get an online taxi insurance policy to conveniently protect your asset

Taxi insurance policy

Getting the best motor insurance plan is every car owners’ desire. That is why it is essential that you get the right plan when searching for your taxi insurance policy. A taxi car requires a different insurance plan from your personal vehicle due to the nature of its everyday use.

Five reasons why taxi insurance is different from your car insurance

  • A taxi is likely to cover more distance during its lifetime than
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November 22, 2018

The best senior citizens health insurance policy available

An insurance policy prevents a medical emergency from escalating into a financial emergency. As we age, so does our ability to withstand illness and the best senior citizens health insurance policy available is ideal to mitigate the cost of medical attention. A senior citizen is anyone above the age of 60 years retiring or on a pension. Age-related illnesses are expensive to maintain and to protect senior citizens from worry about their finances in the twilight years a health insurance

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November 22, 2018

Individual health Insurance

Over the years the cost of healthcare has been increasing steadily and in most occasions faster than income growth. To assist you from financial ruin due to illness, insurance companies have a cover specifically designed for this. An individual health insurance policy meets medical costs such as surgical expenses depending on the terms of your health insurance policy. A health insurance policy protects you from financial ruin at a time of illness and is reliant on the premiums the insured

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November 22, 2018

PROTECT YOURSELF AND LOVED ONES WITH PERSONAL ACCIDENT INSURANCE

There has been a rise in the number of fatal accidents leading to death or disability that are occurring in India in recent years. A personal accident insurance policy though not preventing the accident from taking place provides a soft cushion for the insured. This is because it provides benefits in case of partial and total disability, as well as death benefits. It also caters for ambulance and hospitalization costs and repair costs for damaged property and

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November 22, 2018

Advantages of a family health insurance policy

Health insurance is an ideal way to protect your loved ones and yourself from financial ruin due to illness. It ensures that your expenses are reimbursed or better yet you get to enjoy cashless treatment when the need arises. A Family Health Insurance Policy covers members of a family i.e. spouses, children, in-laws and parents. Although it covers your family from the ever-rising cost of medical attention, there are limitations and exemptions to your policy. It is

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November 22, 2018

Advantages and exclusions of critical illness insurance policy

Critical illnesses are diseases and conditions that include but are not limited to cancer, stroke, organ transplants, and kidney diseases among other health conditions. Critical illnesses are expensive, disruptive to one’s way of life and may lead to disability. A critical illness health insurance policy helps you to mitigate such emergencies which if unattended would be fatal by providing an affordable illness plan.

A sum of the assured amount is paid to the policyholder by the insurance company if diagnosed

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November 22, 2018

The benefits of cashless hospitalization health insurance policy

Very few people have cash that they can easily access in case of a medical emergency forcing most into debt. Thanks to a health insurance policy known as cashless hospitalization one can get admitted and access medical attention without having to pay with your money. A cashless hospitalization health insurance policy is limited to only hospitals in your insurer’s network.

Your insurer covers your medical, surgery and laboratory test fees depending on the nature of your cover. As a policyholder,

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November 22, 2018

Get an online taxi insurance policy to conveniently protect your asset

Taxi insurance policy

Getting the best motor insurance plan is every car owners’ desire. That is why it is essential that you get the right plan when searching for your Taxi Insurance Policy. A taxi car requires a different insurance plan from your personal vehicle due to the nature of its everyday use.

Five reasons why taxi insurance is different from your car insurance

  • A taxi is likely to cover more distance during its lifetime than the
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November 22, 2018

All you need to know about a car insurance policy

This is a mandatory motor insurance plan that seek to protect the policyholder in case of an ill-fatedincident such as an accident or theft. The best car insurance plan protects you and your car from legal charges resulting from physical damage caused to you and your car by a third party. Having your vehicle insured is the best way to protect your car and self from careless drivers or unforeseen natural calamities.

In case of an accident, a policyholder will

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November 22, 2018

Protect your motorcycle and moped with a two wheeler insurance policy

An insurance plan taken to cover a motorcycle and the rider from uncertainties such as accidents and theft is known as a Two Wheeler Insurance Policy.It is a mandatory motor insurance plan that seek to protect the policyholder in this case the rider from legal charges resulting from physical damage caused to the rider and their motorcycle by a third party. The best motorcycleinsurance policy protects your motorcycle and self from careless drivers or unforeseen natural calamities.

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November 22, 2018

Protect your asset with a commercial vehicle motor insurance policy

Commercial vehicle motor insurance plan

A commercial Vehicle is one that is used to ferry goodor passengers at a fee. These vehicles are prone to accidents due to time spent on the road and also uncertainties that are around us such as natural calamities. With this in mind your commercial vehicle requires a commercial vehicle insurance policy. It is also noteworthy that being a source of income to your driver and yourself, commercial vehicles do require some protection.

A commercial

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November 19, 2018

Insurance Blog – Life Insurance Term Plan – InsureMile

A life insurance term plan is an insurance product that provides financial shelter to the beneficiary of the policyholderfor a limited period of time. The beneficiary, who normally is a family member, can claim death benefits in case of demise of the policyholder from an insurance company. This is because the best life insurance term plans are designed to protect the family of a policyholder financiallyduring the term of the policy.
The payout of the benefits can be lump-sum,

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October 24, 2018

How To Make a Claim – Motor

Formalities for a motor insurance claim

A claim under a motor insurance policy could be

  • For personal injury or property damage related to someone else. This person is called a third party in this context) or
  • For damage to your own, insured, vehicle. This is called an own damage claim and you are eligible for this if you are holding what is known as a package or a comprehensive policy.

Third Party Claim
In a third party

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October 24, 2018

How To Make a Claim – Health

Formalities for a health insurance claim

You can make a claim under a Health insurance policy in two ways:

  1. Cashless basis and
  2. Reimbursement basis

On a Cashless basis: For a claim on cashless basis, your treatment must be only at a network hospital of the Third Party Administrator (TPA) who is servicing your policy. You have to seek authorization for availing the treatment on a cashless basis as per procedures laid down and in the prescribed form. Please read

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October 24, 2018

How To Make a Claim – Life

Formalities for a death claim

When a person with a life insurance policy – called a life assured – dies, a claim intimation should be sent to the insurance company as early as possible. The assignee or nominee under the policy can do this. So can any close relative or the agent who handles the policy.

The claim intimation should contain information like the date, place and cause of death. The insurance agent has the duty to help the life

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October 24, 2018

Hit and Run

The Motor Vehicles Act, 1988 is a piece of social legislation and its provisions are designed to protect the rights of road accident victims where the identity of motor vehicle causing the accident cannot be established.   The relevant legal provision is enshrined in Section 161 of Motor Vehicles Act where a  “hit and run motor accident” is defined as an  accident arising out of the use of a motor vehicle or motor vehicles the identity whereof cannot be ascertained

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October 24, 2018

Dos and Don’ts for Life Insurance

Life Insurance: Some Dos and Don’ts

Your life and your earning ability are the biggest assets you and your family have. A life insurance policy is the best way to take care of your family even after your lifetime.

Here are some Dos and Don’ts for buying Life insurance

Dos

  • Think through why you are buying insurance and what core requirements and expectations
  • Seek and receive advice and options patiently
    Be open-minded but cautious about the advice and
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October 24, 2018

How to Buy Life insurance and From Whom

Insurance Intermediaries

  • Insurance is a complex product representing a promise to compensate the insured or third party according to specified terms and conditions in the event of the occurrence of a covered contingency. In most insurance transactions there is usually an intermediary – an insurance agent (individual or corporate) or an insurance broker.
  • Insurance intermediaries serve as a bridge between consumers (seeking to buy insurance policies) and insurance companies (seeking to sell those policies).
  • Insurance brokers are licensed by
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October 24, 2018

What Life Insurance to Buy

Kinds of Life Insurance Policies:

Term Insurance
You can choose to have protection for a set period of time with Term Insurance. In the event of death or Total and Permanent Disability  (if the benefit is offered), your dependents will be paid a benefit. In Term Insurance, no benefit is normally payable if the life assured survives the term.

Whole Life Insurance:
With whole life insurance, you are guaranteed lifelong protection. Whole life insurance pays out

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October 24, 2018

Why Buy Life Insurance

Life Insurance is a financial cover for a contingency linked with human life, like death, disability, accident, retirement etc. Human life is subject to risks of death and disability due to natural and accidental causes. When human life is lost or a person is disabled permanently or temporarily, there is loss of income to the household.

Though human life cannot be valued, a monetary sum could be determined based on the loss of income in future years. Hence, in life

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October 24, 2018

Buying Insurance

Why buy Insurance

  • Life is full of uncertainties. We face various risks in our day to day life including risks to our life, health, property and so on.
  • We don’t know whether something unfortunate will happen to us or when, but it is certainly possible for us to take measures to reduce the financial impact of these risks and protect ourselves financially.
  • Such financial security could come with savings and investment but these merely give back our own money
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September 20, 2018

Less than 1 per cent of senior citizens covered by health insurance

Sadly, we are a nation of uninsured and under-insured. When it comes to senior citizens, the percentage of those covered is less than 1 per cent. Nearly 99 per cent of the senior citizen segment has to fend for itself when they are hospitalized or have to take medical treatment at home. Senior citizens have to take insurance even before they touch 60 years of age and should ensure that they are covered for various age-related diseases such as cardiovascular

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September 15, 2018

Have a small business in Jaipur? Then you can avail the following financing options

Jaipur is one of the most famous places in north India. In addition to being a historically important town, it is also a big business centre with many manufacturers, traders, professionals and service providers plying their trade in the city. People from all over the world frequently visit Jaipur for business-related needs or for holidaymaking. This presents an excellent opportunity for small business owners in Jaipur to expand their business and improve their bottom lines. But like every other small

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child insurance
August 10, 2018

Why need buy child insurance plans

Why are child insurance plans ideal for your child?

A youngster is a delight for its folks. You, as a parent, endeavor to guarantee that your kid gets the best nourishment, social insurance and training. You even make a budgetary arrangement for your youngster’s future so your kid can pick whatever training he/she enjoys without worrying about fundamental assets. Consider the

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Health Insurance
August 4, 2018

What are Health Insurance Plans.

What are health insurance plans?

Health care coverage designs are protection items intended to cover your restorative costs if there should arise an occurrence of hospitalization or basic disease. Not at all like other wellbeing designs, which give scope to just the doctor’s visit expenses, a health care coverage design can give scope to other restorative

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Health Insurance
July 26, 2018

How to choose best health insurance policy

How to choose best health insurance policy

Health Insurance
What is Health Insurance?
Health care coverage is a legitimate understanding between the insurance agency and policyholder under which the backup plan guarantees to pay for every single therapeutic cost caused by safeguarded in the event of medicinal crises. The insurance agency will repay

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July 16, 2018

Everything You Need to Know About Theft Cover of Two-Wheeler Insurance Plans

Two wheeler theft cover Insurance

A bicycle is the most straightforward intends to drive to places with lesser odds of stalling out in rush hour gridlock for quite a long time.

A bike, not at all like an auto, won’t consume up much room and consequently, it is a considerable measure simpler to explore a bicycle in

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July 16, 2018

What is Engine Protection Cover in Auto Insurance?

An auto is a machine that makes our life less demanding. With the creation of carpooling taught by our neighbors and the taxi organizations too, the utilization of autos is ending up increasingly condition well-disposed nowadays. There are sure auto makers bringing eco-accommodating, battery autos and melted oil gas autos, which are less hurtful than the standard petroleum and diesel ones. Since auto

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July 16, 2018

What Is Covered Under Third Party Car Insurance Policy?

Each auto proprietor must purchase an outsider auto protection strategy to guarantee legitimate security against superfluous costs emerging from the therapeutic treatment, property harm or a money related misfortune, unplanned or lawful obligation from the finish of an outsider. Different presumed protection suppliers in the nation have approached with compelling outsider protection intends to give scope to people against such episodes.

What is

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July 16, 2018

What to Keep in Mind When Buying Two wheeler insurance Policy for Your Sports Bike?

Owning a top of the line bicycle is a fantasy for some devotees. They invest a considerable measure of their energy going over the exhibitions, determinations, and the different rates that distinctive merchants offer. What’s more, after an incredible relative investigation, they get their fantasy bicycle in their own carport.

Keeping in see the cost of a bicycle, you can comprehend that the

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