RBI's draft guidelines prescribe that banks with a strong capital base and NPAs below 3% can become brokers.
Detariffing in the non-life insurance market may well be the beginning of the end of cross-subsidisation and low premiums in group health insurance, with insurers now looking at pricing all their products individually.
Sanjib Jha, CEO, Coverfox Insurance Broking answers your health insurance related queries.
Indian government expects LIC to have better business this year.
The total number of Indian agents registering with the Million Dollar Round Table (MDRT), a prestigious international trade association of insurance agents, has more than tripled to 1,931 agents for 2007 compared with 532 in 2006. To qualify for the MDRT, an Indian insurance agent has to get a premium (read business) of Rs 23.92 lakh to his insurance company or earn a commission of Rs 5.98 lakh.
Group term insurance is far more cost-effective than an individual cover.
With lower rates of renewal and lesser disposable income available to invest, insurers said the penetration has come down.
The merged entity will have a combined market share of 6.4 per cent in the non-life insurance industry with 308 branches in the country. The deal is subject to regulatory approvals and the entire process is expected to be completed in nine months.
PAN may also be required for cash payment of Rs 100,000 or more as life insurance premium, amid concerns that insurgents may be parking funds in high-value insurance policies.
If you have a health insurance policy, you can earn benefits on premiums paid on health check-ups, says Sajja Praveen Chowdary, head-Term Life Insurance, Policybazaar.com.
Apart from special services from banks for their wealth management needs, HNIs are now getting offers from insurance companies, too.
If you have done proper planning and have little liability, there is no need to go for an insurance policy after 50.
Riders are the additional benefits that you may buy and add to your policy. They are options that allow you to enhance your insurance cover, qualitatively and quantitatively. Riders can be mixed and matched based on one's preferences for a small additional cost.
Insurers have eased the documentation process to file claims so that they can be settled faster
Harjot Singh Narula lists 5 lessons Diwali teaches you about your financial future
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The government on Thursday rolled out the internship programme on a pilot basis that will provide a total annual financial assistance of Rs 66,000 to those in the age group of 21-24 years, and aim to cover one crore youth over five years.
India is likely to count among the top three life insurance and 15 general insurance markets in the world by 2020. However, private insurance companies are to be find a way to operate profitably.
Add-ons such as critical illness or disability due to accident are available on payment of a little extra money, and they can take care of any unforeseen, unfortunate developments, says Santosh Agarwal
Bundled products often come with restrictions. The customer also gets locked into two products at the same time. This reduces flexibility.
Naval Goel of PolicyX answers some important questions before buying insurance policies
Inflow of more funds is likely to widen the reach of insurance and drive M&A activities in the sector where growth has stalled.
When you confuse insurance with invstment, you could actually lose money.
There are many ways of determining your insurance needs. Here we look at a few.
LIC identifies the problems well, but what the markets will watch is how nimble it is with the solutions.
Initial public offering (IPO)-bound Life Insurance Corporation (LIC) of India's assets under management (AUM) increased to Rs 38 trillion as of September 2021, compared with Rs 37 trillion as of March 2021, said sources in the know. Its AUM is almost 3x the AUM of all the private life insurers in the country and over 15x more than the AUM of the second largest life insurer, SBI Life, as of September 2021. SBI Life's AUM was approximately Rs 2.4 trillion as of September 2021, said sources.
Market leaders in this line of business - New India Assurance and Tata AIG - have begun to reassess the premium on risk exposure of their portfolio in the director's and officer's liability business.
It will allow more transparency in policies and flexibility in premium payment, besides improving processing of claims.
Biometric cards contain the details of policyholders such as name, age, address and finger prints. Besides helping the customers to pay their renewal premiums, the card will facilitate claim processing. It authorises transactions based on the customer's fingerprints.
Company launches claim guarantee scheme for customers.
Here is a list of items set to become cheaper and costlier.
Insurance behemoth LIC on Tuesday said it has garnered a little over Rs 5,627 crore from anchor investors led primarily by domestic institutions ahead of its mega initial public offering (IPO). Anchor Investors' (AIs) portion (5,92,96,853 equity shares) was subscribed at Rs 949 per equity share, the insurer said in an early morning filing to exchanges. Out of the allocation of about 5.9 crore shares to AIs, 4.2 crore shares (71.12 per cent) were allocated to 15 domestic mutual funds through 99 schemes, the filing said.
Unit-linked life insurance products are those where the benefits are expressed in terms of number of units and unit price. They can be viewed as a combination of insurance and mutual funds.
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