Page 7 - Insurance Premium

Fewer defaults on EMI payments by consumers in March, shows NACH data

According to the data released by the National Payments Corporation of India, 32.76 per cent of all auto-debit transactions in volume terms failed in March compared to 36.6 per cent in February

InsuranceDekho may have got Rs 1,200 cr in premium in FY21: Co-founder

Online insurance aggregator InsuranceDekho is expected to have garnered Rs 1,200 crore in insurance premium through its platform during the financial year ended March 2021, a top company official said

SBI Card sees over 50% transaction from online payments, says CEO

SBI Card has been seeing over 50% of its transactions via online payments such as on groceries, insurance premium, and hopes the trend to go up further as point of sale purchases are yet to pick up

Motor insurance premiums remain in contraction till February, shows data

While group health has seen 9 per cent growth, government schemes and overseas medical segments contracted

Deposit maturity claim documents at nearest office anywhere, says LIC

But it will be valid till the end of the month

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

Future Generali launches health product with 80% discount on no-claim

General insurer Future Generali has launched a health product offering 80 per cent flat discount on the premium on renewal if there was no claim in the previous year. The health super saver policy offers a straight 80 per discount on the premium on renewal in the second/third year in case there was no claim in the previous year, said Anup Rau, managing director & chief executive of Future Generali India Insurance, which has over 3 lakh health insurance customers. The company is offering the new product in two variants--1X and 2X-- under which the former provides a 80 per cent discount on the premium in the consecutive year in case the first year was claim-free and the later offering 80 per cent more coverage for the family members on an individual sum insured basis. This product also covers a one-day-old infant to a senior citizen who is 70. * * * * * GMR Kannur Duty Free Services launches outlet * GMR Kannur Duty Free Services Ltd (GKDFSL) on Thursday launched its first duty .

Non-life insurers direct premium rises by 6.7% in Jan at Rs 18,488.06 cr

The cumulative premium till January 2021 rose by 1.91 per cent to Rs 1,40,999.04 crore; stand-alone health insurers witnessed 8.04 per cent increase at Rs 12,108.73 cr

Life insurers' new business premiums up 3.7% in Jan after two slump months

This is despite state-owned insurance behemoth LIC reporting a 2% decline in NBP in the same period to Rs 13,143.64 crore

Retail health driving growth, motor insurance premiums inching up

Increasing new vehicle sales and strong momentum in retail sales during the festive season supported growth.

Irdai working group proposes 'traffic violation premium' in motor insurance

It will float over own damage and third party sections and can be attached to any section of motor insurance cover bought

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

The average term premium increases exponentially with age

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

When job loss wrecks your finances

Continue to pay your loan EMIs and insurance premiums for term and health policies (not investment-based policies) on time

Retail health segment drives surge in health insurance premiums, shows data

Group health has also done well with general insurers posting a 17 per cent growth in H1FY21

Covid, income fears see shift to single-premium plans. How good are they?

Those buying these plans should bear in mind that gains at maturity may not be tax-free

Life insurers see 16% growth in new business premiums in September quarter

New business premiums of life companies rose 26% in September, with LIC leading the way

Covid-19 impact: Life insurers lose 4 mn policies, Rs 45,000 cr in premiums

Traditionally, the second fortnight of March is the most productive period for the life insurance business as around 15-18 per cent of the entire business comes during this period

Despite market volatility, LIC made Rs 13k cr profit in equity till Aug: MD

The insurer has collected about Rs 87,300 crore of renewable premium till August this year, registering a growth of 13.5 per cent over the same period of the last fiscal

Centre extends crop insurance premium deadline in five MP districts

Union government has agreed to give farmers in five districts of Madhya Pradesh time till September 7 to pay premium under the PM's crop insurance scheme, state agriculture minister Kamal Patel said