The pool was formed by non-life insurance cos in India in Apr '02.
'If something unfortunate happens to an earning member, the family loses the crucial income which would have gone towards paying off debts, meeting the cost of children's higher education, or towards the upkeep of elderly parents.'
'There is still scope for selective stockpicking.'
The National Commission concluded that the claim had been rightly rejected on grounds of misrepresentation in the proposal form and breach of duty to maintain utmost good faith while applying for insurance coverage.
ICICI Lombard is utilising the latest technology and forensic methods to verify insurance claims.
You can exit Ulips after five years.
By refocussing on equity-linked products, LIC has managed to turn in some splendid numbers.
Any unexpected expense can disturb the finely-balanced budget of middle-class individual. That's when a motor insurance policy comes as a saviour
Aslam Hunani presents some of the frequently asked questions about health insurance in India.
'If through growth and serving the customer we become number one, we will be very happy and very proud.'
Plan these investments well rather than just doing random investments at the beginning of the year or rushing in at the end, advises Harshad Chetanwala, co-founder, MyWealthGrowth.
Under the standard fire and special perils policy, everything is excluded other than whatever is named specifically in the cover. Removal restriction on an all-risk policy will also result in greater adoption of loss of profit insurance, which is a critical risk for any company. Insurance companies are likely to offer value-added services like a replacement car in case of a car breakdown and full compensation (without any depreciation) if the car is damaged.
Some politicians were found to sponsor pilgrimage of their voters -- the most preferred destinations being Tirupati in Andhra Pradesh, Manjunatha Swami temple in Dharmasthala in Karnataka and Shirdi in Maharashtra.
Sanjib Jha, CEO, Coverfox Insurance Broking answers your health insurance related queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
It is important to preserve copies of benefit illustration and product features.
Here is a list of items set to become cheaper and costlier.
While the likely intensity of the third wave is still a matter of debate, wisdom lies in being financially prepared for it, advises Bindisha Sarang.
Vehicles are depreciating assets and lose their value over time.
What if I told you that you only need to invest for 5 years to accumulate Rs 1 crore? Sounds unbelievable, but it's possible, asserts Ramalingam Kalirajan
United Progressive Alliance-led government proposed lenders as insurance brokers; new FM not too keen, say insurers.
Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits, reveals Tamal Bandyopadhyay.
The Pradhan Mantri Jan Dhan Yojana will provide accident insurance of Rs 100,000 to all people who open bank accounts under this scheme.
According to analysts, this is the highest premium paid by a foreign insurer to a domestic partner.
You will be much better off buying the required plans directly from life and general insurers, experts tell Chirag Madia
Since no insurance companies share data on their claims with each other, the finance ministry and Irdai suspect that a lot of the resultant claims are duplicates.
While SGBs are a sound investment, they aren't worth buying at any price. The interest income you earn from them will not justify paying a high premium.
The Bill will come up for discussion in the upcoming winter session of the Parliament.
If the sum assured is less than 10 times premium, the proceeds will be taxed.
With the lockdown being eased gradually, providing more and more digital solutions, for service delivery and procurement of new policies, is what the corporation is focussing on.
Join us for an online chat with health insurance expert Anil Rego between 2 pm and 3 pm on Thursday, February 15.
After the second wave of the pandemic, general and health insurers have seen a fall in their outgo of Covid-related health claims. In the July-September quarter (Q2 of FY22), insurers settled a little over Rs 5,000 crore worth of Covid health claims. This is 35 per cent lower than the Rs 7,700 crore worth of claims they settled in Q1, sources said.
The Nepal earthquake has driven home the importance of home insurance. What are the factors you need to keep in mind before insuring your property? Indrani Roy offers a checklist.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, will answer your queries on HEALTH insurance and AUTO insurance.
India has a huge untapped population which doesn't have facilities for financial aid and insurance, and it is perhaps plausible to look at the option of having niche players catering to smaller sectors akin to non-banks and microfinance institutions in lending, said Rakesh Joshi, member (Finance & Investment), Insurance Regulatory and Development Authority of India (Irdai). Speaking at the Business Standard BFSI Insight Summit, Joshi said, "Today, most of our insurance companies operate at a national level. There is arguably a case for having differentiated operations, which cater to niche sectors the same way we have non-banking financial companies (NBFC) and microfinance institutions in lending." "The capital requirement for niche players may not be as large as those having national ambitions. "Enabling these niche players, which require lower capital, will enhance the penetration in areas which hitherto had not seen traction from large players," he said.
The eighth Budget of Finance Minister Nirmala Sitharaman continued to focus on 'GYAN' (Garib, Youth, Annadata, Nari) to maintain a consistent and coherent strategy initiated over the years in pursuing the government's vision for Viksit Bharat. The approach, characterised by incremental yet impactful steps, aims to create a compounding effect over time.
Under the new model, the surplus distribution in the participating policyholders' fund has been modified to 90:10 in a phased manner, wherein 90 per cent will go to policyholders and 10 per cent to shareholders. Further, 100 per cent of the surplus generated out of the non-participating business will be available for distribution to all shareholders.
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