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.
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.
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.
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
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
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.
Taking the right insurance policy for monsoon
Comprehensive health, home, motor policies can save you from vagaries of weather that may singe your pocket
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.
Fake motor policies more than double in two years
Are insurtech users compromising on their data privacy for convenience
Fake motor insurance policies have more than doubled to 1,19
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.