Page 14 - Insurance Industry

Irdai launches standard personal accident cover, maximum Rs 1 cr assured

In the case of permanent total disablement, a similar benefit will be paid by the insurance firm

Compare prices across term insurance plans to get best deal: Experts

Increase payment tenure, go for monthly premium to counter hike in term rates

Price hike in term insurance plans may not impact demand: Experts

Despite the price rise, term plans are relatively cheaper in India than in the US or even Singapore, said experts

Outflow-stricken equity MFs look for boost from Ulip tax changes

Starting this month, new Ulip plans with annual premium of over Rs 2,50,000 are proposed to be taxed in the same way as capital gains on transfer of equity-oriented MF units

Unable to get health cover? Buy a standard vector-borne disease insurance

Standard policy will make price comparison across insurers easy

Fidelity clause covers all employees

In a recent case, National Commission observed that the policy defined an employee to include officers, clerks, servants and other employees

Legacy insurers can't go digital overnight, says Oracle's Prasad Rai

Insurers will also need to introspect and bring about changes internally, according to PRASAD RAI, vice-president, Global Strategic Clients Group at Oracle, who spoke to Raghu Mohan

Enter term insurance early, lock in the premium as delay means higher cost

The average term premium increases exponentially with age

Bajaj Allianz Life AUM grows 79% in 10 years to cross Rs 70,000 cr

The private sector life insurer said its assets under management have crossed the Rs 70,000-crore milestone by the end of December

MassMutual to set up Rs 1,000 crore global facility in Hyderabad

US-based insurance major MassMutual will be setting up its global capability centre in Hyderabad with an initial investment of Rs 1,000 crore

Insured's dilemma: Should you flout safety norms to get the claim?

A false declaration by the insured could compromise the safety of the buyers to whom the vehicles are sold

Irdai maintains 5% obligatory cession to GIC Re in FY21, fixes commission

Obligatory cession is the part of the business, or premium, that general insurers are required to cede on every policy sold to GIC Re

Increase life insurance cover to keep pace with your liabilities

Convert policies into 'paid-up' if internal rate of return is below promised levels

Saral Jeevan Bima will have lower entry barriers, but may not be cheaper

High expectations are pegged to the Saral Jeevan Bima (SJB), the standard term insurance cover slated to be launched on Janua­ry 1

Non-life insurers see 2.7% growth in premiums in November at Rs 14,981 cr

Non-life insurers were in the red in September also, with premium collection slipping 4.41 per cent

Pay for loss incurred to minimise damage

The National Commission rejected New India's plea, saying the consent had become invalid as the insurer itself had not abided by the claim amount recommended by the surveyor

Paradigm shift in GenNext insurance

Millennials look for instant gratification from the products and services they opt for. Hence, traditional long-term products don't appeal to them much

Most see 5% rise in health insurance premiums, says Policybazaar

Experts suggest the premium hike of up to 5 per cent is because of various changes the regulator has brought in to standardise health products and make them more customer centric

If declaration is late, claim can be rejected

The insurer pointed out that the policy conditions in respect of timely declaration of shipments had been violated, and rejected all the claims

If error is inadvertent, claim must be paid

Insurance firms cannot deny claims if there is any inadvertent error on the part of the insured