Page 22 - Life Insurance

Life insurance sector unfazed by demonetisation

On a year-on-year basis, private insurers and LIC grew at a robust pace of 42% and 38%, respectively

Your Money: Avoid single premium plans for tax saving

A combination of ELSS or PPF with a term plan offers better coverage and returns

Life insurers' claim settlement improves

According to the Insurance Regulatory and Development Authority of India's (Irdai) Annual Report 2015-16, Ulips registered growth of 12.62 per cent in premium in 2015-16, compared to 2014-15. In comparison, the growth in premium from traditional products was 11.72 per cent for the same period.

Life insurers' total products see 12% jump

The industry had 685 products as on October end 2016 compared to 610 products last year during the same time period

Life insurance policy holders get 30 days more to pay premium

Currently, a person can withdraw up to Rs 24,000 in a week

Revive lapsed insurance during special campaign

You are charged the same premium and also enjoy continuity benefits

Irdai specifies rule for Point-of-Sales Person of life insurance

The life insurer in question, Irdai says, shall be responsible for the conduct of the PoSP

Agent numbers see rise in life insurance industry

Life insurance industry has added 24,183 agents in the period between April 1-September 30 during this financial year

Non-life insurers' premium income grows 86% in September

Public general insurers have 54.54 per cent market share while private players capture 45.46 per cent upto September

Insurers rush to get nod for benefit-based health policies

Life insurers given time till October 18 to withdraw existing indemnity plans; Irdai had banned these products

20% boost in ticket-size of life insurance policies

Life insurers are now focused on need-based selling across all products

IndiaFirst Life looks at more bank tie-ups

The private life insurer, has taken part in some of the recent RFPs floated by banks such as IOB towards this end

Don't let high agent churn hurt you

While the company may send an alert, the onus is on the customer to ensure timely payments

Life Insurance: Amitabh Chaudhry

I have an endowment plan. Could I take a loan against my life insurance policy? What is the procedure? Will this affect my maturity amount? Yes, you may take a loan against your life insurance policy, once it acquires a guaranteed surrender value (GSV). To initiate the process, you have to give a written request at the branch. The company will fill you about the eligibility. Based on your confirmation and the required documents, the loan shall be processed and the amount deposited in your account. Subsequently, you will receive a loan repayment schedule, with the details regarding interest rates, equated monthly instalments (EMIs) and loan term.The loan will not affect your maturity amount, provided you pay all future due premiums and your EMIs on time. In default, the company may decide to adjust the loan amount from the policy's cash value and lapse the policy.An agent approached me, saying he can offer me policies from two different insurance companies? Is this legal? If both the in

Life insurers' new biz premiums up 4% to Rs 13,854 crore in July

Life Insurance Corporation's new business premium was the highest at Rs 10,737.92 crore, up 3 per cent

Fraud claims leave life insurers in a fix

Section 45 which says that no claim can be rejected after three of the life insurance policy being in force still remains a bone of contention among insurers

Life insurers infra investments up, equity assets down in FY16

Industry officials said this was on account of insurers primarily using bank branch networks to sell policies, apart from using other platforms like web aggregators and insurance marketing firms

Life insurance industry logs 33% growth in first quarter

Life Insurance Corporation of India has logged 37.53% growth in the new business during the first quarter of the current fiscal

Return of premium term plans can be avoided

You will be better off buying a plain- vanilla term plan, which costs less, and invest the balance in MFs

Reinsurance pie in life policies to get bigger

Currently, the reinsurance market is Rs 18,000 crore in India, of which life insurance only contributes Rs 1,200 crore-1,300 crore