The high sum insured will allow the insurer the luxury of taking treatment in a deluxe room in premium priced hospitals and cover high-cost medical expenses for critical illnesses.
Insurance agents of all life insurance companies selling unit linked insurance plans will now show rate of returns ranging between 6 and 10 per cent to customers.
Prudential ICICI's managing director, Shikha Sharma, talks about how the journey has been so far and also why she thinks unit-linked insurance plans are the best allocators of long-term funds.
Public sector banks, in a frenzy to cash in on the retail credit boom during the three years beginning 2003-04
The RBI had raised the issue with thegovernment, stating that foreign banks buying majority stakes in non-deposit-taking NBFCs (NBFC-ND) would provide room for regulatory arbitrage.
The two had signed an operating agreement for cross-selling each other's products recently.
An increasing number of contractors managing parking lots at malls, multiplexes and five-star hotels are buying parking insurance covers
State Bank of India's investment kitty now includes Rs 300 crore (Rs 3 billion) worth of shares of its competitor and the second largest lender, ICICI Bank.
The Life Insurance Corporation has decided not to nominate any retired employee as a director on the board of the almost 90 companies in which it has equity or loan exposure.
The code of market conduct is being prepared under the aegis of the General Insurance Council (a self-regulatory body of the 12 non-life insurance companies) in this regard.
The finance ministry is having a relook at the entire financial sector regulations and legislations to determine how they compare with the global standards.
T S Vijayan has completed a year as chairman of insurance behemoth Life Insurance Corporation of India. In an interview with Business Standard, he speaks about the targets set by LIC, its plans to beat competition and overseas and future plans.
The general insurers have sought well-crafted strategies from interested consultants to withstand competition from the private sector which is more customer-oriented in terms of both services and products.
Srei Infrastructure Finance last month sold 50 per cent stake in a part of its business equipment financing arm to France's largest bank BNP Paribas for Rs 775 crore
As soon as general insurers are freed from the shackles of standard products, they could offer a motor insurance policy that provides for settlement of full claims amount without any deductions for depreciation as per the current practice.
Corporates being compelled to pay higher rates on term loans of 3 years and above, struck at fixed rates a year ago.
"We have written to all the companies in which we have nominee-directors, asking them not to give Esops," said LIC managing director D K Mehrotra. He said there were more than 100 companies in which LIC had nominee-directors.
The days of free group healthcare could be over, it's time to fund your own medical policies.
Companies will now have to pay a charge for loans sanctioned to them but not utilised
The move opens a debate on the role of independent directors nominated by institutions.
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