Policyholder

Policyholders may delay their insurance purchases using the free look period option to benefit from the nil GST on premiums, effective from September 22

Hospital body AHPI issues notice to Care Health Insurance, citing low rates and heavy deductions as the reason behind the move

Learn who gets the insurance proceeds if the policyholder and the nominee both pass away in an accident

HDFC Life Declares Rs. 4102 Cr. Bonus for Policyholders

Growth has varied across standalone health insurers (SAHI), which Ind-Ra expects to grow 21 per cent Y-o-Y in FY26

Refuting claims of Leader of Opposition Rahul Gandhi, Life Insurance Corporation of India (LIC) has said that it remains dedicated to providing financial security to its policyholders, while also supporting the well-being of its agents. The clarification came a day after some of the LIC agents met the Leader of Opposition and raised certain issues regarding recent changes in rules by IRDAI and LIC, which make insurance less affordable for the poorest and most marginalised communities and weaken the position of agents. "We want to clarify that LIC has introduced products that align with the New Product Regulations set by Irdai, effective from October 1, 2024, keeping policyholders' interests at the forefront," LIC CEO & MD Siddhartha Mohanty said in a statement. LIC has consistently focused on reaching rural areas and economically and socially disadvantaged sections as it is committed to broadening life insurance coverage, he said. "Our aim is to extend financial protection to ...

Unclaimed amounts often result from outdated customer details, making it difficult for insurers to trace policyholders or their nominees

The Irdai said retail policyholders can cancel their insurance policy at any time during its term by notifying the insurer, and will receive a refund for the remaining period of the policy

Health policy-holders can now avail premium discount in case of no claims in previous year

In participating or 'par' policies, life insurance companies share the benefit of profit in the form of bonuses with policyholders

The regulator has observed several complaints from policyholders due to the asymmetry of information between insurers and the policyholders

The higher payout is due to the company reporting a multi-fold increase in net income at Rs 506 crore in FY23, up from Rs 71 crore in the previous fiscal

Shriram Life Insurance Company, a part of the Shriram Group, on Wednesday said it has unveiled a new unit-linked policy that offers financial control with multiple fund options and investment strategies. Policy holders can opt to cover either whole life or a specific period of time enabling them to fulfil their financial aspirations with full flexibility, the company said. The scheme, which has been launched commemorating the golden jubilee year of the Shriram Group, has two options -- Life Goal and Legacy -- providing customers options to alter policy term, premium payment term, sum assured and premium. Life Goal offers cover for a specified period while Legacy offers cover till the age of 100. Commenting on the launch of the product, Shriram Life Insurance MD and CEO Casparus Kromhout said: "We are delighted to announce this plan on our Group's momentous milestone. The plan gives various flexibilities and options to choose from, provides financial protection and encourages long-t

Bajaj Allianz Life on Wednesday said it has declared a bonus of Rs 1,201 crore to participating policyholders for the financial year ended March 31, 2023. This is the 22nd consecutive year of bonus payment to all eligible and participating policyholders. The Pune-based company said the bonus includes a regular reversionary bonus of Rs 872 crore and a terminal and cash bonus of Rs 329 crore. In the previous year, the company had paid Rs 1,070 crore in bonus to over 11.62 lakh policyholders, Bajaj Allianz Life said. As many as 11.43 lakh participating policyholders out of its total of 3.5 million policyholders will benefit from the announcement, it added. The regular reversionary bonus will be payable at the time of maturity or death of the policyholder. The funds for the bonus will be sourced from the surplus generated by the participating policyholders' funds for FY2023, said Tarun Chugh, the managing director & chief executive. The policyholders of its participating products su

We intend to sharpen the focus on bancassurance to steadily and considerably increase its volume, thereby its share in our business, said Kumar

TATA AIA Life Announces Record Annual Bonus of INR 861 crores for its policyholders

The campaign is launched to benefit those policy holders who were not able to pay premiums due to unavoidable circumstances and their policy lapsed

LIC's public offer, the country's biggest-ever IPO, saw the policyholders' portion being oversubscribed on the first day itself on Wednesday, though overall subscription stood at just 66%

The non-institutional category, consisting of corporates, individuals, and others has seen muted demand, with only 5 per cent subscription so far

The LIC has set a price band of Rs 902-Rs 949 per equity share. The government intends to raise Rs 21,000 crore through the issue