Over 2,471 people joined Anil Kapoor to create a new Guinness World Record by holding the abdominal plank position for 60 seconds.
Maternity coverage is a specific feature in health insurance policies that covers the medical expenses associated with childbirth and complications associated, if any.
Life insurance companies reported a 13.16 per cent year-on-year (Y-o-Y) growth in new business premium (NBP), totting up Rs 30,347 crore in October, even as the number of policies sold saw a sharp decline. The growth was largely driven by strong performance from private sector life insurers.
'As on August 25, 94,753 Govindas have been insured.' 'This number is expected to rise further, as proposals for 5,000 to 8,000 Govindas are received daily.'
Before heading abroad, ensure your travel insurance policy offers all essential coverage and has an adequate sum insured.
Visa and 20 insurance companies in India have joined forces to make paying life and general insurance premiums "faster and easier" through a range of new payment options for Visa cardholders
SKS Microfinance, one of the country's leading microfinance companies, has extended life insurance cover to about one million poor women in India in states such as Andhra Pradesh, Orissa, Karnataka, West Bengal, Rajasthan, Uttar Pradesh and Madhya Pradesh.
Private life insurers experienced reasonable growth in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24), and the October data is also encouraging. The individual weighted received premium (WRP) for private players grew by 19.8 per cent year-on-year (Y-o-Y) in October. However, Life Insurance Corporation (LIC) of India had slower growth, pulling the industry growth rate down to 13 per cent Y-o-Y.
Insurance companies reported nearly 23 per cent growth in first year premium in the first quarter of financial year 2024-25, when compared to the same period last year, with market leader LIC leading the charge with 28 per cent growth. According to the data released by the Life Insurance Council, the new business premium (NBP) increased by 22.91 per cent year-on-year (Y-o-Y) to ~89,726.7 crore in Q1FY25 from ~73,004.87 crore in Q1 FY24, reflecting a robust demand for insurance policies in the country.
Such products in insurance parlance are called acturial-funded products. The ban would require Aviva Life Insurance to withdraw all its 14 ULIP products, while Bajaj Allianz one of its ULIPs called Capital Unit Gain.
'They take care of the problem: How can I ensure my child's education and other goals are not compromised, even if I am not around?'
It is similar to top-up health insurance plan, but provides for one or more claims cumulatively crossing the threshold limit.
Self-employed individuals often face hurdles in buying term insurance due to financial documentation that doesn't fully reflect their earnings. This complicates underwriting.
The judgment from a five-judge Constitution bench, led by Chief Justice DY Chandrachud, offers clarity on licensing regulations and is expected to prevent insurance companies from rejecting claims based on the type of licence of drivers involved in accidents.
'Accidents are unpredictable, whether it's a mishap during Diwali, a fracture during travel, or a fall in the bathroom.'
We are, therefore, setting up more branches in more tertiary terms, like tier 2 and tier 3 terms. Going forward, that is where the growth will come.
The Allianz Group, the German financial services powerhouse, is planning to foray into the booming asset management business in India.
NBFCs with a proven track record, supported by the brand values of reputed corporate, can play a key role in bringing the benefits of banking and economy to the underserved and newer segments of India.
German insurance giant Allianz is planning to widen base in India with foray in banking business through its unit Dresdner Bank, besides expanding its existing non-banking financial services.
It is essential to have a comprehensive motor policy, and not just a third-party cover, as the latter does not protect your own vehicle.
Market-linked products have been driving the growth of private insurers for some time now. But, the market volatility has forced the companies to re-think their strategies, reports Subrata Panda.
Group term insurance is far more cost-effective than an individual cover.
'It's better to be over-insured than underinsured.' 'Ensure your home insurance includes STFI (storm, tempest, flooding, and inundation) cover for protection against monsoon rains.'
The insurance regulator's move to prod insurance companies to sell health products to all age groups, including those above 65, is aimed at increasing penetration though there would be challenges on pricing due to higher risk perception, experts said. While there was no regulatory cap on age for health insurance policies, most companies had an internal policy which did not allow them to sell health insurance products to persons over 65.
If your flight is cancelled or delayed or you miss one, a travel insurance policy can cover the costs at such times and help you book a new one.
A rider is a supplementary cover which can be purchased with the base policy by paying an additional premium.
The average ticket size of retail health insurance in India has increased by nearly 48 per cent over 6 years due to elevated medical inflation and increased demand for higher coverage policies among policyholders. According to data by online insurance broker PolicyBazaar, the average ticket size of retail health insurance in India has increased to Rs 26,533 so far in FY24, up 48.22 per cent from Rs 17,900 in FY19.
Health insurance policy-holders will be able to avail a discount on the premium payable if there were no claims made in the previous year, according to the circular released by the regulator.
Yet another first week of December brought familiar scenes of rain, storm, flooding, power outages, and fallen trees. When Cyclone Michaung wreaked havoc, leading to the heaviest rainfall in 47 years in the city, residents of Chennai drew parallels to the devastating floods of 2015. However, initial data on insurance claims suggests that the impact this time may portray a more optimistic scenario.
Leading private life insurers HDFC Standard Life, Bajaj Allianz and Birla Sun Life top the list of firms against whom consumers have filed complaints with sectoral regulator Irda for indulging in unfair business practices.
This recognition is a testimony of India's strong belief in promoting entrepreneurship
Berkshire India will soon start selling life insurance products as a corporate agent of Bajaj Allianz Life Insurance.
Typically, an individual buys a health cover between Rs 3 lakh and Rs 5 lakh.
Warren Buffett will meet with individuals that have bought insurance policies through his Indian venture Berkshireinsurance.com.
The share of Life Insurance Corporation of India (LIC) in monthly new business premium (NBP) in the life insurance sector declined to 58.50 per cent in September 2023 from 68.25 per cent in September 2022 -- a drop of 975 basis points -- owing to shortcomings in the product and distribution side of business. However, the market share saw a marginal uptick from the 57.37 per cent recorded in August this year. According to the monthly business data released for September 2023 by the Life Insurance Council, the NBP of LIC up to September 2023 stood at Rs 92,462.62 crore as compared to about Rs 1.25 trillion in the same period a year ago.
Insurers have introduced new profiling parameters such as marital status, income and even ownership of flat.
Here's a list of life insurance companies that have the maximum number of customer complaints against them in various categories such as claim disputes and unfair business practices.
hree big players -- ICICI Lombard General Insurance Company, Bajaj Allianz General Insurance and Apollo Munich -- have launched policies in tie-ups with spas, gymnasiums, yoga institutes, diagnostic centres and health food retailers to offer discounts to customers on these services and products.
These are meant for students travelling abroad for further studies.
Ujjivan Small Finance Bank's initial public offering attracted heavy investor demand on the final day of bidding on Wednesday as the issue was subscribed a whopping 126.36 times.
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