INSURANCE


Moneylife Digital Team 24 September 2022
A lot of people make the mistake of renewing health insurance every year without giving it a second thought. While being continuously covered by a health cover year after year is a good thing, what needs to be reviewed every year before renewal is whether the insurance plan continues to be...

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Moneylife Digital Team 09 September 2022
Most of us do not read the fine print on our health insurance policy and, later, blame the insurance company for rejection/deduction of insurance claims. Health insurance policies come with an overload of fine print and there are many features which need to be examined in detail before buying...

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Asset monetisation is one of the parts of organisational overhaul that the four government-owned general insurance companies are expected to do, said a senior industry official.   The four insurers are: The Oriental Insurance Company Limited, National Insurance Company Limited, The...

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The talks between the unions in the four public sector general insurers, General Insurance Corporation of India (GIC Re), their management and the government has ended in a stalemate, said industry officials.   The meeting took place on Saturday. The four are: The Oriental Insurance...

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Moneylife Digital Team 27 August 2022
PNB MetLife India Insurance (PNB MetLife) launched a dental health insurance plan recently. It is India's first stand-alone dental care insurance plan that covers major dental procedures without the hassles of hospitalisation. According to the company, the Plan covers fixed-benefit outpatient...

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A survey on health insurance facilities in the country has disclosed that nearly 62% health insurance policyholders surveyed saw their premiums increase by 25% or more in 2022.   The survey conducted by community platform Local Circles disclosed that of the 62%, 38% of them saw their...

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Yogesh Sapkale Yogesh Sapkale 19 August 2022
In a major triumph, 71-year-old Santosh Bhat scored a major victory against  Life Insurance Corporation of India (LIC) when the insurance ombudsman (IO) asked the insurance behemoth to return the entire premium of Rs5,09,460 that she had paid for the controversial Jeevan Saral insurance...

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Are vehicle-owners being cheated by the non-life insurers by charging more than a just price?   It seems so, if one goes by a question that was raised in the Lok Sabha by the Congress party member from Kerala, Hibi Eden.   And there cannot be smoke without a fire goes the...

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Moneylife Digital Team 08 August 2022
During the past five years, life and non-life insurance companies have transferred Rs1,723.20 crore to the Senior Citizens' Welfare Fund (SCWF) as per the provisions of Senior Citizens' Welfare Fund Rules, notified by the government of India and a master circular issued by the Insurance...

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Shrirang V Samant 05 August 2022
The tragic death of singer KK in Kolkata must be fresh in everyone’s mind. It was during a concert that he suffered a cardiac arrest and died while being taken to the hospital. While the cause of the singer’s death remains unknown, questions were being raised about the arrangements at the...

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The past couple of years have underlined the importance of having adequate health insurance cover and also exposed the limitations of regular health policies. Many COVID-19 claimants received only half of the claimed amount and had to pay the balance from their pockets, despite having health...

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Moneylife Digital Team 28 July 2022
Newly set up Financial Services Institutions Bureau (FSIB) has recommended the names of Neerja Kapur and Girija Subramanian as chairman-cum-managing directors (CMDs) of The New India Assurance Co Ltd (NIACL) and Agriculture Insurance Company of India Ltd (AICIL).    FSIB, the...

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Over 58,000 employees in the public sector general insurance companies will go on a two-day strike on 27-28 July to highlight their woes of wage revision and lack of Central government support to the industry, top leaders said here on Thursday.   The employees and officers belong to...

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Moneylife Digital Team 16 July 2022
LIC Arogya Rakshak is a benefit-based non-linked and non-participating health insurance plan launched by the Life Insurance Corporation of India (LIC) in July 2021. It is an improved version of LIC Jeevan Arogya Plan which has been withdrawn. LIC Arogya Rakshak is not a comprehensive medical...

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Moneylife Digital Team 08 July 2022
The age between 18 years and 40 years is considered the most productive in anyone's life. It is in this phase of life that the solid foundation of success is laid. While individuals are busy working their way up on the ladder of success, it is also important to protect the health and...

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Moneylife Digital Team 02 July 2022
Although health insurance options for senior citizens have increased over the past few years, there is always a trade-off between premium affordability and benefits. Navigating through the maze of health insurance products for senior citizens is not easy. You can trip up on several...

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The absence of full-time Chairman and Managing Director for the listed New India Assurance Company and full-time Directors for all the public sector non-life insurers, failure of IRDAI in curbing the unethical market practices of private players, are some of the issues affecting the...

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India's insurance regulator is in reform mode with a series of industry-friendly measures, hoping that it would result in more people buying insurance protection.   Happy with the winds of change, the sector wants more relaxation.   The Insurance Regulatory and Development...

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Moneylife Digital Team 13 June 2022
Taking any type of loan involves a huge financial responsibility. This is especially true in case of home loans and loans for education abroad which involve taking on a huge debt. SBI Life - RiNn Raksha is a group credit life insurance plan offered by SBI Life Insurance Company Limited (SBI...

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Quite often, many (and sometimes hidden) terms & conditions (T&Cs), such as long waiting periods on pre-existing diseases (PEDs) or caps on room charges, become a source of disappointment and frustration when one really needs health insurance. Nobody likes claim rejections or going...

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