Non-life insurers can sell both, benefit-based and indemnity-based short-term health covers.
ICICI Prudential Life Insurance Company (IPru) is struggling to generate growth in the value of new business (VNB). This is due to a combination of weak growth through the parent bank's channels, a shifting product mix in favour of unit-linked life insurance policies (ULIPS), and higher payouts to third-party channels. Leverage from current investments, a further reduction in contributions from ICICI Bank, and a pick-up in non-participating policies from the end of the year is key for this metric in the near to medium term.
Real estate giant DLF announced on Tuesday its tie-up with US-based financial player Prudential Financial, Inc for a foray in life insurance business and said the two partners will invest about Rs 10 billion over the next ten years in the venture.
Both life insurance and medical insurance premiums are subject to an 18 per cent GST rate.
The life insurance industry posted 48 per cent growth in July with the Life Insurance Corporation and 12 private insurers mopping up Rs 3,291 crore in premium income, selling about 49 lakh policies during the month.
Section 45, which says no claim can be rejected after three years of a policy being in force, remains a bone of contention
The Insurance Regulatory and Development Authority of India's (Irdai's) decision to allow insurers to hedge risks through equity derivatives will help them manage market volatility and protect policyholder returns. However, this move is unlikely to alter their investment strategies.
Competition in the cellular market, including the capital, could soon be hotting up with the Department of Telecom clearing a proposal to issue letter of intent to mobile operator Aircel in eight of the 11 circles it had applied for licences.
When Taragauri Doshi's husband died, an assessing officer wanted to tax the proceeds from a life insurance policy that had been bought abroad. Homi Mistry, Mousami Nagarsenkar & Hiral Tanna explain why such proceeds are not taxable in India.
Tata AIA Life Insurance has 13 people at the senior vice-president level.
The government on Friday received financial bids for the strategic disinvestment of IDBI Bank, the Department of Investment and Public Asset Management (Dipam) said in an official statement on X.
'Money is not just about greed or accumulation. It gives you freedom, dignity and choice. And you have every right to all three.'
When illness strikes, this cover cushions the fall -- guarding health, finances, and the family's fragile future
ICICI Prudential Life Insurance Company has launched a completely online term insurance plan named 'iProtect' on Tuesday.
General insurance sector has also demanded exemption from MAT, claming that they do not enjoy any tax incentives.
Reduction of GST on health insurance premium from 18% to 0% looks like a straight 18% reduction in what consumers pay. The truth, however, is...
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
A court in Thane district granted bail to CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal, who were arrested in connection with an alleged cheating case involving Rs 71.60 lakh. The court cited a lack of prima facie evidence against them.
State-owned insurer LIC on Thursday reported a 32 per cent jump in net profit to Rs 10,053 crore for the second quarter ended September 30, aided by a lower commission outgo. The country's biggest insurer had reported a net profit of Rs 7,621 crore in the year-ago period.
Life insurance companies are balancing the increasing use of celebrity endorsers by limiting the association to short, event-led campaigns.
The Insurance Regulatory and Development Authority of India (Irdai) has asked at least 10 general and life insurance companies to submit a detailed road map for their listing strategies by the end of this month, according to multiple sources with direct knowledge of the matter. "The regulator met four life and six general insurers last month and asked them to provide their listing strategies by the end of February," said one of the sources.
Under 'Claims Guarantee' the company guarantees to pay claims within 12 working days of receipt of all required death claim documents from the nominee or claimant, provided full premium is paid by the policyholder for at least three policy years and the required claim application documents are submitted.
There have been some cases where the entire family has perished or both spouses died in the crash, which are making the claims process particularly complex.
While EPF rewards patience and compounds your money, inflation decides how far your money really goes.
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.
In its draft guidelines, the Insurance Regulatory and Development Authority (Irda) has asked the country's life insurance companies to refile their existing products and withdraw the same by September 30.
Most mutual fund players and life insurance companies are planning to bid for appointment as pension fund managers for all citizens after the Pension Fund Regulatory and Development Authority (PFRDA) today decided to seek expression of interest from prospective fund managers.
There are different ways in which you can calculate the life insurance coverage. Here are some simple ways to find out your life's worth.
A court in Thane district granted bail to CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal in an alleged Rs 71.60 lakh cheating case, citing a lack of prima facie evidence against them. The case involves allegations of impersonation and misuse of the CoinDCX brand by fraudsters.
Go for a term insurance if you are an unmarried individual. A simple whole life insurance would best suit a 40-plus married person with two grown up kids while the same with a term rider would be best for a married person less than 40 years with two kids!
Private sector market leader ICICI Prudential has reported just a 20 per cent rise in new retail business weighted premiums during March, 2008, and a 40 per cent rise for the quarter ended March 2008. That has dragged down ICICI Prudential's growth for 2007-08 to below 70 per cent. The average for the first 11 months was 80 per cent.
Finance Minister P Chidambaram has called a meeting of officials from life insurance companies on September 1. The meeting is aimed at improving insurance penetration and addressing concerns of companies in the sector.
'The kind of reach it has with so many bank branches even in the remotest part of the country, it is one channel which will play a very important role in vision of insurance for all.'
The 'rescue' operation occurred within kilometres of Iran's underground tunnel complex at Isfahan, assessed by the IAEA and US intelligence as holding a substantial portion of the country's 60 per cent enriched uranium stockpile. Retired senior US military officers have highlighted that the mission's footprint -- hundreds of special operators, multiple heavy-lift aircraft deep inside Iran -- appears outsized for recovering a single airman. Prem Panicker continues his must read blog on the Iran War.
People in their quest to save tax usually end up buying a lot of unwanted insurance products.
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