More than nine million policies with a combined risk cover of over Rs 1,00,000 crore lapsed in 2008-09, reveals the Insurance Regulatory and Development Authority (Irda).
A lapsed policy can be revived within 5 years from the date of the last premium paid by paying up the outstanding premiums along with interest charges.
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
Don't sidestep the idea of investing in term insurance. Here's why.
Is there any use of a policy for which you keep paying premiums for 20 to 30 years and in the end your claim gets rejected? Harjot Singh Narula offers advice on how not to get your claim rejected
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
What happens when your insurance policy lapses? What should you do in such a scenario? Read on to find out...
The proposal for listing public general insurers had come up in 2007.
Now insurance companies will train agents not only to get new business but retain existing customers.
The 'Online Term' also offers higher life protection up to the age of 75 years through a transparent and hassle-free online process and provides the convenience of medical check-ups, if any, at the customer's residence.
Despite state-owned Life Insurance Corporation (LIC) reporting an improvement in value of new business (VNB) margin in Q1FY25, analysts believe the growth has not been satisfactory in the context of the insurer's medium-term targets on margins. VNB margin is a measure of profitability of life insurance companies. LIC's VNB margin improved by 20 basis points (bps) to 13.9 per cent in Q1FY25 over the same period last year due to a change in the business mix of the insurer.
Don't solely focus on tax-saving alone.
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
Ask rediffGURU and PF and MF expert Janak Patel 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.
Harjot Singh Narula explains the basics of paid up insurance policies
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Core retail segments like motor and health continue to report strong growth of 19-20 per cent with competitive intensity still visible in the motor OD (owner driven) segment. Commercial lines reported muted growth. Group health remains a key driver. Among the listed companies, ICICI Lombard continues to trail in the motor section while Star Health has lost its Y-o-Y retail market share although its better on a sequential basis.
Here's your one-stop to know and learn all you always wanted to know about term insurance policies but didn't know who to ask.
Here are four things to keep in mind after buying life insurance
'Even if India is attractive, FPIs currently lack the funds to invest, as money is being redirected to the US.'
After the policy gets paid up, opt for ETI plan if you wish to extend your life cover or take the reduced paid-up if you need cash in hand
Have you ever spared a thought on other tax-friendly alternatives at their disposal, which could actually give them better returns than an insurance endowment plan?
The regulator has made it mandatory for insurers to have a minimum percentage of motor third-party business underwritten.
A heated debate erupted in the Rajya Sabha over the ongoing strike by ASHA workers in Kerala, with Congress and CPI(M) MPs trading accusations over responsibility for addressing their demands for a higher honorarium and post-retirement benefits. Congress MP Jebi Mather alleged that both the Kerala government and the Union government had ignored the workers' pleas, while CPI(M) MP John Brittas countered by claiming Kerala provides the highest honorarium to ASHA workers. The debate also saw demands for an AIIMS in Kerala and a hike in MBBS seats, as well as concerns over maternal health, elderly care, and mental health in India.
Read the fine print and avoid potential losses, says Naval Goel
Health insurance coverage should be hiked periodically to keep pace with medical inflation, or increase in healthcare costs.
After reporting low numbers in new business premium, life insurance companies are resorting to special initiatives to increase business from the rural segment, which they term as emerging markets.
Mukesh Kumar, Executive Director HDFC ERGO General Insurance Company, tells you how you can benefit by doing so
Life insurers in India registered a 22 per cent growth, collecting Rs 9,713 crore (Rs 97.13 billion) in premium income from new business till December, with private players gaining more ground from LIC.
The Insurance Regulatory and Development Authority has clarified that only the premium collected for providing health cover in the case of unit-linked health insurance policies will be eligible for tax benefits.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
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Prior RBI permission a hurdle, given its views; business interest needs to be clearer.
'If you want it to grow well and serve the true needs of the economy, it needs a lot of freedom and flexibility, which comes in terms of the reform objective set by the regulator.'
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
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