Page 36 - Insurance

Do not depend only on ratings; use your own judgment too: Irdai to insurers

Many insurance companies have exposures to the beleaguered IL&FS group as part of their investment portfolio

Non-life insurers' gross premiums underwritten grow 12.65% in Apr-Jan FY19

gross direct premiums underwritten by the non-life insurers in April - January period of FY 19 was to the tune of Rs 1.39 trillion

Plan to buy term insurance? Choose from multiple claim settlement options

Opt for lumpsum payment if you have liabilities. Staggered payout can provide regular income to the family

Name change can't lead to claim rejection

The consumer forum recently said a company can file for a claim under its new name even though the policy stood in its former name

When is an insurance claim turned down? Know the exclusions in your policy

Also provide proper documentation to minimise the chances of your TPA recommending that your claim should not be reimbursed

Make correct disclosures with your agent to avoid 'mis-selling' of policies

Even if the agent fills up the form, it is your responsibility to ensure that there is no suppression of key facts

IRDAI gives in-principle approval for IndiaFirst Life Insurance stake sale

IndiaFirst is a joint-venture between Bank of Baroda, Andhra Bank and UK-based Legal and General.

Irdai bats for easier exit from traditional plans; no change in returns

Draft guidelines propose higher sum as well as some bonus, if premiums are paid for two consecutive years

Delay alone cannot lead to rejection

Insurer argued that a claim cannot be made on the basis of a cover note but consumer forum dismissed it

Does your accident cover include adventure sports? Check before you dive

Insurers only cover adventure sports if undertaken as a hobby, not in a professional capacity

A hugely under-insured India gears up to capture more reinsurance biz

Asian countries, China and India remain under insured because of low per capita income

If you change hospitals mid-treatment, will your insurance policy cover it?

Usually, such transfers to other hospitals for better treatment is covered under the policy

Combine lump sum with monthly payout when buying a term insurance plan

In case the husband dies, the widow will be protected from unscrupulous agents who push people to buy products for fat commissions

Those with fluctuating income may opt for single-premium policies

If paying the insurance premium at one go means dipping into your savings, avoid it

Public sector insurers lose market share to merger plan delay: Irdai data

Three insurers are yet to appoint a merger consultant, while private rivals are cornering the market

IRDAI panel to revisit insurance marketing rules

The committee is also tasked with providing recommendations on how best to strengthen the insurance marketing firms' channel

20 states sign MoU with govt to implement National Health Insurance scheme

The NITI Aayog has estimated that the new health insurance scheme will cost around Rs 60 billion in the first year

Domestic insurers play contra as mutual funds lap up shares

Redemptions in Ulips have led to outflows at insurance firms

Soon, pay lower health insurance premiums for good behaviour

Using technology, insurers will increasingly offer insurance policies that reward good customers while penalising the bad ones

Avoid falling prey to mis-selling of insurance

While Irdai can nudge the sector towards better practices, buyers need to view this as an instrument that provides risk cover, not as a tax saving or investment product