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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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 has revealed the former being costlier than the latter.

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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 has revealed the former being costlier than the latter.

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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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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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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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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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