Its not so tough to improve insurance coverage at nominal cost.
Standard Life has raised its stake in an Indian life insurance joint venture to 26 per cent ahead of a proposed flotation of the business on the Indian stock exchange in 2009.
Bajaj Allianz Life Insurance, a leading private player, launched on Monday a life insurance plan for rural masses with a one time premium of just Rs 75 to be covered for a minimum five years.
Hemendra Kothari, the former chairman of DSP Merrill Lynch, is set to acquire Ambuja Cements' stake in ING Vysya Life Insurance for around Rs 190 crore.
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The new Insurance Bill may be implemented in 2015.
The gross premium of the non-life insurers stood at Rs 2,456.64 crore (Rs 24.56 billion) in April-October against Rs 2,383.28 crore (Rs 23.83 billion) in the corresponding period last year.
An endowment policy can provide some form of life-risk cover but investors should consider buying the no-frills term plan to increase the coverage amount at a fraction of the former's cost.
10 salient points that are often a source of trouble for those who buy insurance.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
The National Consumer Disputes Redressal Commission, while setting aside the Punjab state commission's order, asked the Chandigarh branch of the Life Insurance Corporation India to pay the sum along with compensation Rs 25,000 and litigation cost Rs 5,000 within 45 days to Punjab-resident Neelam Chopra.
A day after Manmohan Singh won the trust vote, sans Left support, rating agencies Moody's Investor Services and Icra said the insurance sector will get a huge boost if the government paves the way for greater foreign participation in Indian companies.
Oriental Bank of Commerce on Thursday announced a tie up with Oriental Insurance Company for selling general insurance products through its branches.
Aviva Life Insurance on Wednesday launched two new funds -- a secure guarantee fund and equity-oriented growth fund.
About 60 per cent of Indian private insurers believe there has been a significant rise in insurance-related frauds, and as risks lurk there is an immediate need to consider a proactive fraud risk management framework, a Deloitte survey said on Thursday. Insurance companies in India have experienced a rise in fraud instances in life and health insurance, and increased digitisation, remote working post pandemic and weakened controls are key factors contributing to frauds, according to Deloitte's Insurance Fraud Survey 2023. "About 60 per cent of survey respondents believe that there has been a significant rise in fraud, while further 10 per cent experienced a marginal increase," the survey said.
Max New York Life Insurance Co Ltd, 26 per cent owned by New York Life, expects the premium income of private life insurers in India to grow at a compounded annual rate of 75 per cent over the next five years.\n\n\n\n\n\n
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.
FM announces 12-point action plan to revive sector
Medical insurance policies have caps on expenses made under different heads. Some help on how they work.
Make a fresh start to this New Year with an appropriate insurance policy
Insurance companies have started offering IT, IT-enabled services, business process outsourcing and non-manufacturing companies with policies due for renewal on January 1 discounts of more than 60 per cent.
The move comes amid complaints that high returns are being promised by life insurers on ULIPs accompanied by non-existent guaranteed returns.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Pulling up insurers for lack of consistency in pricing critical illness products, the insurance regulator IRDA has directed insurance companies to stick to one standard data and eventually build a database of incidence of diseases and death rates.
Primarily trained for a career in FMCG, he shifted to insurance when the opportunity came his way.
The insurance regulator wants the removal of the minimum entry capital requirement of Rs 100 crore for setting up an insurance business in a bid to facilitate the entry of multiple players such as standalone micro insurers and niche players. Debasish Panda, chairman, Insurance Regulatory and Development Authority of India (Irdai), said it should be left to the regulator instead to decide what should be the entry fee for interested players, depending on the size of the business and operations. According to the current norms, insurers are required to have a minimum paid-up capital of Rs 100 crore.
It is important to know all the relevant clauses that could impact you before signing on the dotted line.
MET League of Colleges and Chartered Insurance Institutes (CII), London announce the eMBA-Insurance programme.
Your insurance policy is just not for saving tax. The bonus that accrues on your policy can also help you maximise your wealth.
General insurance industry grew by 21 per cent in April-May, which saw private player ICICI Lombard fast catching up with the top four public sector insurers.
HDFC Bank is recruiting Insurance Advisors for its branches in Mumbai.
Accident insurance is the cheapest and smartest way of filling the insurance gap especially for the young.
In a move that will bring cheer to health insurance policyholders, non-life insurers are finalising the contours of a new product that will have a common minimum standard cover and will be renewable and portable across companies.
The information will bring about more transparency by providing prospective policyholders clear information about the amount that has been collected from them as brokerage or commission, an IRDA circular said.
New Irda rules open the way, with 5 entities getting okay to set up as repositories; firms preparing structures for switch
Buying a wrong insurance policy can give you nightmares when it comes to settling claims. Then there are other issues like cost, riders etc. Here's a seven-point checklist to help you buy an insurance policy that YOU need.
