Life insurance

Hela January 11, 2020

Vishal is a young accountant in his first job. He has no financial liabilities. However, he has been saving small amounts and wants to continue doing so. He has heard about the importance of insurance in ensuring financial stability and is considering taking a life cover. Has he considered all aspects before making this decision? Vishal is right […]

Hela December 28, 2019

When buying an insurance policy, it’s important to look at the various costs. Apart from the costs specific to insurance such as mortality cost, you also need to pay goods and services tax (GST). However, you may not find this information displayed prominently in advertisements. Keep in mind that this will be an added cost at the […]

Hela November 29, 2019

The prime festive season may have just ended, but ‘Hurry! Offer only till stocks last’ sales pitches of a different kind have started. Life insurance distributors are pushing prospective policyholders to buy policies before 30 November, 2019. The new Insurance Regulatory and Development Authority of India (Irdai) life insurance product guidelines will come into force from 1 […]

Hela October 4, 2019

In today’s digital era, consumers’ expectations are changing rapidly. In a bid to cater to the evolving demands of consumers, companies have started to adopt emerging technologies such as Artificial Intelligence (AI), chat-bots, automation, data analytics and more. The life insurance sector is no exception. Life insurance companies are looking at innovative steps to grab […]

Hela September 24, 2019

The State Bank of India (SBI), the country’s largest lender, on Wednesday said it will raise up to Rs 3,465 crore by selling up to 4.5 per cent stake in its insurance arm SBI Life Insurance Company, subject to requisite approvals. “The Executive Committee of Central Board (ECCB) of State Bank of India (SBI) in […]

Hela July 29, 2019

Life insurance products are undergoing major changes, and mostly to the benefit of policyholders. The Insurance Regulatory and Development Authority of India (Irdai) recently released the final product regulations covering term, endowment, Ulips and pension plans. 1. Higher withdrawals allowed in pension plans The maximum withdrawal allowed at maturity under pension plans has been increased […]

Hela July 15, 2019

LIC recorded two-fold rise in its new premium collection to ₹ 26,030.16 crore Led by LIC, life insurers’ collective new premium income jumped 94 per cent to ₹32,241.33 crore in June this year, according to data from Insurance Regulatory and Development Authority. All the 24 life insurers had written new gross premium of ₹16,611.57 in the same month a […]

Hela July 13, 2019

Life insurance companies have clocked 65 percent year-on-year (YoY) growth in the first year premiums in Q1. Data from the Insurance Regulatory and Development Authority of India (IRDAI) showed that life insurers collected new premiums of Rs 60,637.22 crore for the quarter ended June 30. Among the companies, Life Insurance Corporation of India (LIC) posted […]

Hela June 10, 2019

Private life insurer Edelweiss Tokio Life Insurance has launched a product called “health shield”, a heart and cancer insurance solution. The product also has a term-trigger benefit where the insurer will offer a term cover in case a major form of cancer is detected. This is the first insurance company in India to offer such […]

Hela May 27, 2019

Human life is subject to risks that come in the form of death and disability due to natural, accidental or other reasons. The right insurance plan provides you and your loved ones with the much-needed financial security. Yet, people are often ignorant towards insurance. According to a report published by IndiaSpends earlier this year, at […]