'In life insurance, it is about creating distribution capacity and solutions for customers. We are constantly working on that.'
Allocation to bank deposits -- fixed deposits, savings account deposits, and current account deposits -- came down.
For new customers, the insurer has reduced the waiting period from 30 days to 15 for Covid-related claims with no increase in premium.
Aircraft that are lost and their debris aren't found are also covered under the 'disappearance' clause in an aviation insurance policy.
Chaudhary also said that 66 per cent of government-sponsored health insurance schemes in the country are being run by the central government. "When the COVID-19 pandemic started, a decision was made for sale of all medicines at the GST rate between 5 and 12 per cent and the GST rate for COVID-19 related medicines and instruments has been reduced to five per cent," he said during the Question Hour.
'... that it once again shies away from renewing its commitment to strategic divestment,' points out A K Bhattacharya.
The Reserve Bank is unlikely to ease the benchmark policy rate during 2024 given the uncertainty over food inflation, State Bank of India (SBI) chairman C S Setty has said. The US Federal Reserve's first cut in interest rates in more than four years is expected soon, triggering central banks in other economies to follow suit. "On the rate front, a lot of central banks are taking independent calls.
With lower rates of renewal and lesser disposable income available to invest, insurers said the penetration has come down.
A senior executive of NIA confirmed the development and said that the insurance company is assessing damage to the airport's assets
If you opt for a term-life cover, buy separate policies to cover the loan for all the co-borrowers in a home loan for a sum assured equal to the home loan amount.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Insurers may be burning their fingers in urban health portfolios for some time now, but the government's rural healthcare initiatives, including its decision to provide free generic drugs to public hospitals, are set to offer fresh avenues of growth for them.
Bundled products often come with restrictions. The customer also gets locked into two products at the same time. This reduces flexibility.
Justices Arif S Doctor and Somasekhar Sundaresan held there was nothing in the MCC that would interfere with the Board's ongoing activities.
The outlook for India's financial sector appears bright, but it needs to brace for likely vulnerabilities, said Economic Survey 2023-24 tabled in Parliament on Monday. The Indian financial sector is at a "turnpike moment", it said, adding that the dominance of banking support to credit is being reduced, and the role of capital markets is rising. For a country that aspires to be a developed nation by 2047, this is a long-awaited and welcome development, it said.
It acts as an additional health safeguard in case your basic insurance plan is not enough to take care of your medical bills
Before you buy a cashless benefit plan at lower premiums, check if you can make full use of it. Most don't even exhaust the entire benefit.
The new draft guidelines issued by IRDAI proposes a minimum sum assured of Rs 50,000 and a maximum of Rs 5 lakh. A General Insurance Council official said the guidelines were still being worked on and would only be finalised next week.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health insurance related queries.
Feature for feature, bank FDs are indeed better than debt funds today, mainly thanks to Ms Sitharaman, notes Debashis Basu.
