IRDAI relaxes repayment terms in suicide cases within 12 months

IRDAI relaxes repayment terms in suicide cases within 12 months

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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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 ruin your vacation. As a matter of fact, every year we hear handful of stories detailing the experiences of individuals about their medical emergencies, damaged or lost baggage, misplaced passport or missed flights. However, these stories become a bigger nightmare if the travel insurance company reject your claim for some reason leaving you personally on the hook for massive bills.

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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 despite the painfully high exit barriers.

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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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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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