Life Insuracnce

Bima Sugam can widen insurance access, say industry leaders at BFSI Summit

At the Business Standard BFSI Insight Summit 2025, industry leaders said that Bima Sugam can make insurance more accessible, affordable and transparent, helping reach more people across India

Canara HSBC Life Insurance public issue to raise nearly ₹2,500 crore

The life insurer's Rs 2,500-cr IPO is an offer for sale by existing shareholders, with CEO Anuj Mathur saying no fresh capital is needed for expansion

GST cut on health insurance: Policyholders may use free-look period option

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

Bima Sugam to roll out in phases for insurers, intermediaries, customers

Bima Sugam India Federation said the digital insurance marketplace will launch in phases this year with pilot insurer integrations and gradual customer onboarding

Top four life insurance companies covered 14 mn fewer lives in FY25

Data from insurers' annual reports show ICICI Prudential Life Insurance covered 91.74 million lives in FY25, down from 96.61 million in FY24

Sales of life insurance policies drop 10% in Q1FY26, shows data

Life insurance policy sales dropped 10.11% YoY in Q1FY26 to 4.8 million, with muted demand and new surrender value norms contributing to the decline

Insurance firm not liable to pay for death caused by rash driving: SC

The Supreme Court has said insurance companies are not liable to pay compensation to the families of individuals who die as a result of their own rash and reckless driving. A bench of Justices PS Narasimha and R Mahadevan refused to grant 80 lakh compensation sought by the wife, son and parents of a man who died while driving a car at high speed. The top court refused to interfere with the Karnataka High Court's order dated November 23 last year which had dismissed the plea filed by the deceased legal heirs claiming compensation. "We are not inclined to interfere with the impugned judgment passed by the high court. Hence, the Special Leave Petition is dismissed," the bench said in an order passed on Wednesday. On June 18, 2014, one N S Ravisha was driving from Mallasandra village to Arasikere town when the accident took place. His father, sister and her children were travelling in the car. The court had found that Ravisha drove the car in a negligent manner without following traff

Term life buyers opt for higher cover and avoid long tenure policies

Rising premiums for longer durations and features like smart exit prompt shift to shorter term insurance policies with higher sums assured of ₹2-5 crore

Insurance on WhatsApp: How to buy and manage policies, claim settlements

Paperwork reduced and instant assistance assured on platform, say top insurance companies

Banca channel for PSB-led life insurers slows in FY25 as incentives dry up

A renewed focus on core business, discontinuation of incentives for employees, and customer movement to digital purchases of insurance are the key reasons for the decline

HDFC Life hits 6-month high, nears record high; analysts see more upside

The brokerage firm believes HDFC Life can deliver higher VNB growth than what is implied in the current valuation on the back of higher APE growth than the industry at 14-16%.

LIC relaxes claim settlement rules for victims of Pahalgam terror attack

Life Insurance Corporation on India on Thursday announced relaxation in claim settlement procedure for victims of Pahalgam terror attack. The dastardly terror attack that took place on Tuesday in Kashmir's Pahalgam killed 26 people, mostly tourists. Expressing grief over the death of citizens in the terror attack, LIC in a statement said it is committed to supporting those affected and will expedite claim settlements to provide financial relief. LIC CEO & MD Siddhartha Mohanty said the insurance company announced many concessions to mitigate the hardships of the claimants of LIC policies. In lieu of death certificates, any evidence in government records of death of the policyholder due to the terrorist attack or any compensation paid by central/state government will be accepted as proof of death, he said. All efforts will be taken to ensure that the claimants are reached out and claims are settled expeditiously to the affected families, it said. For further assistance, the ...

Check out the best life insurance premium rates before tax filing season

Here are the best premium rates offered by various insurance companies for a life insurance plan

LIC suffers Rs 84,000 crore dent in portfolio amid stock market crash

A large portion of the dip is attributed to the over 10 per cent correction in ITC (Rs 11,863 crore), Larsen & Toubro (Rs 6,713 crore) and State Bank of India (Rs 5,647 crore) shares, thus far in CY25

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'

Govt collects Rs 16,398 crore GST on health, life insurance in FY24: FinMin

This comes amid demands from stakeholders, including states, to reduce GST rates on health and life insurance premiums

Should you bundle health and life cover plans: Key points to consider

One of the main benefits of bundled insurance plans is the potential for lower premiums compared to buying individual policies separately

Mis-selling of life insurance policies at alarming level, says Irdai

According to Satyajit Tripathy, Member-Distribution of Irdai, life insurance grievances are often related to the product, while non-life grievances usually concern claim payments and exclusions

Is it a wise decision to bundle health and life cover plans?

Single policy reduces paperwork and simplifies premium payments

Look beyond surrender value rules as growth healthy for life insurers

There is some post-Q1FY25 guidance on growth and margins as follows: HDFC Life targets doubling VNB in four years and hopes to outpace the industry in retail APE (annual premium equivalent) growth