Raise the amount of life cover you own if your liabilities and responsibilities have increased during the year, says Arvind A Rao.
Life Insurance Corporation of India's (LIC) annualised premium equivalent (APE) growth remained weak in the fourth quarter of the financial year 2024-25 (Q4FY25) and flat in FY25, but management expects growth to rebound in FY26. The focus remains on improving product mix by increasing share of non-participating or non-par products in the individual APE.
Deal with current owner Exide may be signed next week
Younger people, who usually have a longer investment horizon which allows them to handle the interim volatility, may go for them.
When Life Insurance Corporation (LIC) of India gets listed on the bourses next month, it will be among the biggest listed life insurers globally in terms of market capitalisation (m-cap), assets, and revenue, but will also be among the least profitable and capitalised among its peer group. A big gap between LIC's m-cap, profits, and networth (shareholder capital) will make it one of the priciest insurers globally, in terms of price-to-earnings (P/E) multiple and price-to-book value (P/B) ratio. LIC also lags behind its Indian listed peers in terms of profit and networth.
Buy from an established agent rather than a novice who may not be around when you need his assistance.
HDFC Standard Life Insurance has posted a 65 per cent growth in premium income at Rs 66 crore (Rs 660 million) during the first half of this fiscal, its CEO Deepak Satwalekar said on Tuesday.
'Pandemic has triggered interest and awareness among the people about the need for healthcare.'
Your entire contribution can go down the drain if policies are not renewed on time
There is nothing to worry about while buying an online life insurance plan because the benefits you get are completely genuine and the plans are the same that are available offline, just that you can get them at a much reasonable rate and so you must take advantage of the benefits they provide.
SBI Life Insurance reported a weak performance in Q2FY25. The annual premium equivalent or APE grew 3 per cent year-on-year (Y-o-Y) to Rs 5,390 crore. For the first half of financial year 2025 (H1FY25), it grew 9 per cent Y-o-Y to Rs 9,030 crore.
State-owned Life Insurance Corporation of India (LIC) has realigned its commission structures for its distributors in accordance with new surrender value norms but has no plans to introduce any "clawback", it said in a post-earnings analyst call on Friday. "It depends on our experience because the new products have been filed from October 1," said Siddhartha Mohanty, managing director and chief executive officer. The insurance regulator has revised the surrender value norms, and the revised ones came into effect on October 1.
'Splitting must result in tangible benefits for the customer, otherwise it will only mean more work for them in maintaining the policy and for their nominees.'
'We do not believe in fire sale. We don't do it.'
A combination of ELSS or PPF with a term plan offers better coverage and returns
Term life insurance policies are also called 'pure-risk policies' and 'pure life policies'; they have no savings or investment element in them; the premium includes only the cost of buying the life cover. Here are 6 term insurance policies compared on 5 parameters for you to choose from.
There are certain plans that you can opt for that also cover dental treatments, says rediffGURU Sanjib Jha.
From April 1, when we buy insurance for a car or take out a health cover, insurance companies can offer a product totally customised for us.
Some individuals opt for the new regime without a comparative analysis of the tax liability under the two regimes.
HDFC Standard Life Insurance Company Ltd expects a first premium income of Rs 300 crore (Rs 3 billion) from individual policies, even as it plans to raise its capital base by Rs 75-80 crore (Rs 750-800 million) in the fiscal 2003-04.
Choosing a term insurance policy is an economical way of getting life insured but choosing the most economical term insurance policy will help you to get life insurance on a tight budget also
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Irda nod to policies with flexible premium, sum assured and tenure.
The amount is almost double the Rs 220 crore (Rs 2.2 billion) that a consortium of Bank of Baroda and Andhra Bank earned for its life insurance tie-up with the UK-based wealth and investment company, Legal & General Group (see table). The entry premium is a result of regulations that require foreign insurers to tie up with Indian partners. SBI will hold 74 per cent in the non-life insurance company and IAG the remaining 26 per cent.
Irdai had introduced two Covid specific products in the market - Corona Kavach and Corona Rakshak - that saw huge acceptance among the consumers as these products had lower premiums.
People who have recovered from coronavirus infection will have to wait for up to three months before they can take a new life insurance policy, with insurers making the waiting period requirement applicable for coronavirus cases like other ailments. As a standard practice, all life and health insurance companies require people to wait for a specific period with respect to certain ailments and diseases to gauge the risk before selling a policy. This condition of waiting period for people who have recovered from coronavirus infection will be applicable only for life insurance policies.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Separate investment limits have been proposed for life and health insurance premium.
'If you are investing in a Ulip for returns, go for a type I Ulip.' 'If you are investing for insurance cover as well, type II is better.'
2.75 million of the 3 million Covid-related health claims were settled.
This question remains unanswered most of the time due to lack of knowledge or guidance. No more!
Come October, life insurers may have to tighten their underwriting standards further for retail term plans at the behest of one of the largest reinsurers in the Indian insurance market, Munich Re. According to a source aware of the development, "Munich Re has been studying long-term mortality trends for the past few years, and has suggested some tightening in the underwriting process." "As far as financial underwriting is concerned, the reinsurer has suggested that insurers should ask for additional documents. "For example, apart from income proof, they can ask for bank statements of the prospective customer before issuing policies," added the source.
Wouldn't it be better to reach 45 with a backup engine of passive income that helps you glide through these years instead of grinding, asks Ramalingam Kalirajan
Sales of health and pension policies of life insurance companies have taken a beating in June, according to the latest data released by the Insurance Regulatory and Development Authority (IRDA).
'Last year (FY21), we had about 1 million intimated claims for Covid.' 'This year (FY22), in six months, we got about 1.6 million claims.'
One reason why 'return of premium' plans do not look good is because, just like any other (endowment-type) life insurance plan, they too have to actually invest a certain portion of the premium to generate returns.
Many of us commit these generic mistakes which can turn our insurance buying decision futile, says Shikha Verma
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
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