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.
The lone public sector player Life Insurance Corporation fared much better than its private sector peers did.
RBI interest rate decision, macroeconomic data and global trends would guide markets' movement this week, analysts said. Besides, trading activity of foreign investors and the last batch of Q1 earnings announcements would also guide trends in equities. HSBC PMI (Purchasing Managers' Index) for the services sector is scheduled to be announced on Monday.
There are four public sector general insurance companies.
Taking advantage of attractive valuations, life insurers bought equities in the bulk deal segment during the last six months against selling by them during June-November 2008.
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.
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.
Much of the tardy reaction to competition is the result of LIC's legacy.
Some individuals opt for the new regime without a comparative analysis of the tax liability under the two regimes.
The life insurer tinkered with its business strategy - raised the share of protection plans and reduced dependency on ULIPs in the past four years.
Bharti will move FIPB soon for increasing Axa's stake to 49%
Only a small percentage of passengers who traveled on the trains involved in the June 2, 2023 accident in Odisha had availed of travel accident insurance while booking their tickets online on the IRCTC portal.
In the rapidly changing economic scenario it is important you take a look at your insurance every three years.
Public general insurance companies to collaborate for speedy settlement of claims
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.
Overcoming its initial concerns, national reinsurer GIC Re has contributed to the formation of an insurance pool to cover most imports from Russia. While it will be called the fertiliser pool with a corpus of Rs 500 crore, it can be used to cover the risks of oil and gas imports too. This was decided by a clutch of Indian insurance companies, led by the state-owned ones. GIC Re's share is about 40 per cent in the pool. Last month, GIC Re had shot off a letter to all non-life insurance companies that underwrite marine risks not to ask it for reinsurance of cargoes that originate from Russia.
Any insurance policy cannot be treated as a 'buy and hold' strategy like one may want to do with their investments.
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
Harjot Singh Narula explains the basics of paid up insurance policies
Low margins and cash crunch have resulted in job cuts and a decline in the insurance industry. A policy roadblock is making it worse.
Sanjib Jha, CEO, Coverfox Insurance Broking answers your health insurance related queries.
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.
'If you invest in a rush at the last moment, you could compromise on selecting the best tax-saving options.'
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.
The two Indian banks will make available their combined network of 3,600 branches and a customer base of 40 million.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
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 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
Sukhwinder Kaur doggedly pursued her case against Bharti Axa Life Insurance in the consumer courts.
Putting together all the required documents and surmounting legal hurdles could be a challenge for the nominee.
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.
