Page 3 - Insurance Plans

Plum to invest $6 mn over next 2 yrs to enter personal insurance segment

The company aims to simplify and democratise access to health coverage for individuals

Tips For Purchasing Health Insurance With Pre-Existing Conditions

Discover essential tips for purchasing health insurance with pre-existing conditions. Navigate coverage options, understand your rights, and secure the best plan for your needs.

Analysts bullish on HDFC Life post Q3 results; Nomura upgrades to 'Buy'

Nomura, which previously downgraded the stock to Neutral in Q2FY25 due to concerns about surrender value impact, slowing growth, and higher valuations, has now upgraded its rating to 'Buy'

Insurance portfolio review: Up term cover with rising income, liabilities

A good rule of thumb is to purchase term cover amounting to 7-10 annual income, plus outstanding liabilities

Zyla Health welcomes Rohit Boda to the Board of Advisors to drive innovation and strategic growth

.

Insurers urge IRDAI crackdown against OEM-linked motor insurance brokers

Insurance companies are demanding an open architecture where customers can choose policies from multiple insurers without being limited by OEM brokers

Niva Bupa rallies 27% in 2 days on buzz of lower GST on insurance premiums

The company said it has not received any official communication from any government authority or department regarding the change of GST rates on life and health insurance premiums

BFSI Summit: 'New surrender rules painful but will drive insurance demand'

Insurance industry leaders at the Business Standard BFSI Summit spoke about how revised surrender value rules will improve customer confidence and demand, and shared the challenges that come with it

Consumer protection: Changes in insurance policy terms must be conveyed

The National Commission noted that critical illness risk should have been included by the insurer to avoid prejudice caused by the discontinuation of this risk

How income protection insurance will help your family's financial security

Income protection insurance plans ensure that your income is protected and your family has money in crises

To insure or not? Cyber insurance helps recover losses from cyberattacks

Cyber-risk insurance helps to provide a supplementary financial tool after the initial investment in IT security tools

Irdai asks insurers to check vulnerabilities in IT systems, take measures

Recently, there was a data breach at Star Health & Allied Insurance's servers and reportedly sensitive data of 31 million customers were put up for sale

Term insurance for self-employed: Get 10-15X cover, add premium waiver

Self-employed individuals often face hurdles in buying term insurance due to financial documentation that doesn't fully reflect their earnings. This complicates underwriting

JNPA agrees to fulfil demands of Dye-Makers Association at Vadhvan

As part of the agreement, JNPA will facilitate subsidised loans and insurance policies tailored for the dyemakers in the region

Flood insurance: How to protect your home and business from rising risks

How can you protect yourself if flooding is common where you live? The answer is insurance

Insurers have festivities covered as India prepares for celebrations

Step up coverage and costs for organisers and participants as festival season begins

Budget 2024: Govt likely to introduce insurance laws amendment bill

The government is likely to introduce a bill seeking amendments to the Insurance Act, 1938, during the upcoming Budget session to achieve 'Insurance for All by 2047'. Some of the provisions, which could be part of the amendment bill, include composite license, differential capital, reduction in solvency norms, issuing captive license, change in investment regulations, one-time registration for intermediaries and allowing insurers to distribute other financial products, sources said. The move will enable the entry of differentiated insurance companies like in the banking sector. The banking sector is currently categorised as universal bank, small finance bank, and payments bank. The provision of composite licenses would allow life insurers to underwrite health insurance or general insurance policies. As per the provisions of the Insurance Act, 1938, life insurers can only offer life insurance covers, while general insurers can offer non-insurance products like health, motor, fire, .

Fisherfolk insurance premium fixed at Rs 80 under new converged scheme

From June 1, the government has converged two insurance schemes for fishermen to bring down the premium burden and also ease implementation issues

ULIPs should not be advertised as 'investment products', says IRDAI

The Insurance Regulatory and Development Authority of India (IRDAI) has issued a master circular barring the promotion of Unit Linked Insurance Plans (ULIPs) as 'investment products'. Unit-linked or index-linked insurance products shall not be advertised as 'investment products', IRDAI said in a master circular dated June 19. Insurers will have to specifically state that market-linked insurance plans are different from traditional endowment policies and carry risks. Likewise, participating (with bonus) endowment policies will have to state upfront that the bonuses projected in benefit illustrations are not guaranteed. All the advertisements of linked insurance products and annuity products with variable annuity payout option shall disclose the risk factors, it said. "All insurers shall advertise the launch of unit-linked funds or index-linked funds under existing insurance products or new insurance products, only with reference to the underlying life insurance coverage and the ...

Planning to buy top-up health insurance? Here are factors to consider

A top-up is a type of health insurance policy that provides additional coverage for medical expenses at an affordable premium