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.
Sanjib Jha, CEO, Coverfox Insurance Broking answers your health insurance related queries.
SBI Life, ICICI Pru have seen their valuations increase by 33 per cent and 35 per cent recently. SBI Life Insurance has seen its valuation soar after just 3 months while ICICI Prudential's valuation has increased in just 5 months.
RBI's draft guidelines prescribe that banks with a strong capital base and NPAs below 3% can become brokers.
There are challenges galore before him, and it is not going to be easy. In the next four years, he has to conjure a system that changes the optics about him and the BJP both nationally and internationally so that he can ride back on his own, claim the top slot, and not have to lean on a coalition, asserts Ramesh Menon as Modi 3.0 completes a year in power.
Much of the tardy reaction to competition is the result of LIC's legacy.
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.
Bharti will move FIPB soon for increasing Axa's stake to 49%
In the rapidly changing economic scenario it is important you take a look at your insurance every three years.
The regulator has put a cap on the business a bank can get from a single insurer.
The Asian life assurance business of AIG, is expected to set a price range for its initial public offering early next week and hopes to strike agreements with big 'cornerstone' investors who could take one-fifth of the shares sold a few days after that, the report said citing sources.
Public general insurance companies to collaborate for speedy settlement of claims
Any insurance policy cannot be treated as a 'buy and hold' strategy like one may want to do with their investments.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Harjot Singh Narula explains the basics of paid up insurance policies
India's largest life insurer, Life Insurance Corporation of India (LIC) reported encouraging performance in the January-March quarter (Q4) of FY24. Total annual premium equivalent (APE) was at Rs 21,180 crore, up 10.7 per cent year-on-year (Y-o-Y), with group APE of Rs 3,890 crore, up 60 per cent Y-o-Y, though individual APE contracted 2.1 per cent Y-o-Y. The participatory book contracted 20.2 per cent Y-o-Y, but the non-par grew by 206 per cent to Rs 3,740 crore.
Low margins and cash crunch have resulted in job cuts and a decline in the insurance industry. A policy roadblock is making it worse.
The Anil Dhirubhai Ambani Group's financial services arm Reliance Capital on Friday said it has received approval from the Reserve Bank of India (RBI) for its proposed 26 per cent stake sale in Reliance Life Insurance to Japan's Nippon Life.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
The two Indian banks will make available their combined network of 3,600 branches and a customer base of 40 million.
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.
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.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
According to the data compiled by General Insurance Council, which is not publicly available, the insurers have settled 508,334 claims amounting to over Rs 4,800 crore.
Sukhwinder Kaur doggedly pursued her case against Bharti Axa Life Insurance in the consumer courts.
The Anil Dhirubhai Ambani Group Company also announced to invest Rs 1,000-1,200 crore (Rs 10 to 12 billion) on expansion of its life insurance business in the next 2-3 years. The company is aiming to sell one million 'Express Life' policies in this financial year.
One might wonder what's wrong if one were to get the best of both worlds by buying one product. There are basically two problems... cautions Rajiv Raj
Putting together all the required documents and surmounting legal hurdles could be a challenge for the nominee.
In the June quarter, growth in the segment stood at around 4 per cent, with premium collection at Rs 15,724 crore against Rs 15,074 crore in the same period of FY19. This was the lowest growth in the last five quarters, starting from Q1FY19.
There is huge potential for data analytics insurance sector in India which has over 40 crore life insurance policies.
It is important for both the insured and the nominee to know the process of insurance claim settlement. A false step can lead to denial of the benefit for which life cover is bought.
SBI Life Insurance on Monday launched keyman insurance policy to provide cover to key members of a company who are major contributors to growth and profits and whose absence may affect the business.
The Institute of Insurance and Risk Management invites applications for its International Post-graduate Diploma in Life Insurance, General Insurance and Risk Management Programmes.
Global insurance premiums grew by 2.7 per cent in inflation-adjusted terms in 2010 to $4.3 trillion.
The public-sector lenders were yet to get a formal proposal on sale from HSBC.
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