The unclaimed funds within the life insurance sector are higher from policies sold by agents as against other channels like bancassurance or a digital platform, said analysts and officials from insurance companies. Unclaimed life insurance funds refer to the proceeds of insurance policies including death or survival benefits not claimed by the beneficiary or the policyholder. Bancassurance means selling an insurance product through banks.
While buying a term plan, do check how much money will be paid in lumpsum and how much of the money will come to the surviving family as a regular payout, suggests Sarbajeet K Sen.
Sources said many individual investors were interested in applying for the NFO, due to additional benefits being offered such as upfront discounts and loyalty bonuses.
While so-called 'cow protectors' have indulged in widespread vigilantism under the garb of protection of cattle, there has been little effort to save them from the real threat to their survival -- urban garbage, open dumps and apathy of cow owners.
Finance ministry maintains that all KYC requirements will be followed.
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