INSURANCE


Moneylife Digital Team 24 March 2021
The Insurance Regulatory and Development Authority of India (IRDAI) has allowed life insurance companies to continue issuing policy documents in electronic format and permitted them to dispense with the requirement of getting customers’ wet signature on the proposal forms till 30th...

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Moneylife Digital Team 23 March 2021
Insurance products come in different dimensions, but there are times when two completely different products offer a similar cover. For example, term life insurance pays a death benefit, if the life assured dies during the policy term. Accident death cover pays the sum assured, if the insured...

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Shrirang V Samant 19 March 2021
Ever since the Indian finance minister (FM) announced the proposal to raise the foreign direct investment (FDI) limit in insurance from 49% to 74%, several opinions have been aired on the advisability of this move. Now that the union cabinet has given its nod to the proposal, it is an...

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To mitigate the hardships faced due to corona pandemic, insurance major LIC has allowed its policyholders to deposit their maturity claim documents at their nearest LIC office anywhere in the country.   "LIC has allowed its 113 divisional offices, 2,048 branches, 1,526 satellite...

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The Government has notified amendments to the Insurance Ombudsman Rules, 2017, with a view to improve the working of the Insurance Ombudsman mechanism to facilitate resolution of complaints regarding deficiencies in insurance services in a timely, cost-effective and impartial...

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Moneylife Digital Team 01 March 2021
The Insurance Regulatory and Development Authority of India (IRDAI) has admitted, shockingly enough, that in over 10 years, it has not taken any action against a single insurance company for non-compliance with awards or orders issued by the insurance ombudsman. This admission was made in...

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Sponsored Post 25 February 2021
A few years ago, health insurance policy was not that popular among people but after the global pandemic that has made the entire world standstill, people have got to understand the importance of health insurance cover. While we are witnessing a rise in the popularity of health insurance...

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Shrirang Samant 23 February 2021
Ever since the finance minister (FM) announced in her budget speech that the government will privatise a couple of banks and a general insurance company in the coming financial year, speculation has been rife about the possible candidates for disinvestment. There has been another major...

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Sponsored Post 18 February 2021
If there is one thing that the Coronavirus pandemic has taught us, it is that life is so unpredictable that it changes in the blink of an eye. Who would have thought that a virus originating in Wuhan, China, would rage all over the world and destroy economies and claim millions of lives...

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Moneylife Digital Team 17 February 2021
Insurance Regulatory and Development Authority of India (IRDAI) has issued a notice cautioning people against rampant fraud and cheating by a Bengaluru-based Digital National Motor Insurance. The notice from IRDAI warns that this company is selling motor insurance policies without a...

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Moneylife Digital Team 11 February 2021
Term life insurance products are increasing in popularity due to higher awareness of their benefits. But most term plans do not offer all the features that will meet every need. Some may want their term plan to offer life-time cover; others may want a term plan with a small cover for a few...

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Moneylife Digital Team 01 February 2021
In its aim to simplify the web of insurance products for the layman, the insurance regulator, Insurance Regulatory and Development Authority of India (IRDAI), has targeted another insurance product for standardisation—annuities.   Annuities are insurance contracts made with life...

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Moneylife Digital Team/ IANS 20 January 2021
A working group set up by the Insurance Regulatory and Development Authority of India (IRDAI) has recommended linking of motor insurance premium to various traffic violations that range from parking in the no-parking areas to drunken driving.   As per the report, the motor insurance...

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Moneylife Digital Team 15 January 2021
Critical illness policies are designed to be useful when a person is struck with a life-threatening illness. Usually, these illnesses have huge treatment costs and bring a change in lifestyle too. Regular health insurance does pay for the treatment costs and post-hospitalisation expenses up...

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Marshall Allen (ProPublica) 07 January 2021
Employers trust brokers to guide them to the best value, but conflicts of interest abound. Tucked into the coronavirus relief bill, a new federal requirement will mandate more transparency.   Like a lot of big federal spending bills, the new coronavirus relief package is a grab bag of...

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Moneylife Digital Team 06 January 2021
Last week, we discussed the new standard term life insurance product called Saral Jeevan Bima. On the same lines, the insurance regulator, Insurance Regulatory and Development Authority of India (IRDAI), has mandated insurance companies to launch a standard home insurance policy—Bharat Griha...

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Moneylife Digital Team 31 December 2020
On 15 October 2020, the Insurance Regulatory and Development Authority of India (IRDAI) published guidelines for a standard term insurance product under the banner of Saral Jeevan Bima. All life insurance companies were asked to mandatorily sell this standard life insurance policy from 1...

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Moneylife Digital Team 23 December 2020
ICICI Prudential Life has launched an annuity product called Guaranteed Pension Plan with the option of immediate annuity and deferred annuity. Buyers of the plan can pay a lump-sum and choose to receive their annuity immediately or anytime after one year to 10 years. This product is for...

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IANS 11 December 2020
In a customer-friendly move, Life Insurance Corp of India (LIC) is offering an online facility for switching of funds under its unit-linked insurance policies (ULIPs).   In a statement LIC says “Online facility for switching of funds under ULIP policies has been introduced through...

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Moneylife Digital Team 11 December 2020
SBI Life Insurance has launched a new savings plus insurance policy called Smart Future Choices. SBI Life says that the new policy is specially curated for high net-worth individuals (HNIs). Also, the insurance policy is available only for offline sales. Let us find out the features of this...

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