Life Insurance Corporation of India (LIC) brought down the cumulative &lsquo;notional loss&rsquo; in three of its pension plans by around five per cent from Rs 14,000 crore in the year ended March 2010, a senior LIC official said today.

LIC cuts notional loss in three schemes by 5%

Business Standard

Not all life insurers offer health insurance plans. Health plans by life insurance companies are long-tenure products &mdash; five years or more. General insurers&rsquo; health policies are renewable annually. Policies offered by life insurers have premiums fixed for three-five years, whereas non-life insurers may change premiums every year.

Life Insurance: Deepak Sood

After unit-linked insurance plans, the Insurance Regulatory and Development Authority (Irda) has introduced stringent guidelines for universal life policies (ULPs).

Irda goes strict on universal life policies

The Central Bureau of Investigation (CBI) today arrested eight people, including senior executives of banks and housing finance companies, for giving loans to private builders after taking bribes.

CBI busts mega real estate loan racket

Kolkata-based non-banking financial company, Magma Fincorp, today said it has received the first phase of licence from the insurance regulator to enter the general insurance space through Magma HDI General Insurance.

Magma HDI Gen Ins receives R1 licence from Irda

Press Trust of India

Private life insurer Aviva today announced the launch of three child plans in the Uttar Pradesh market.

Aviva Life launches child plans in UP

In addition, buy Ulip health plans offered by life insurers or invest systematically in mutual funds to create a corpus.

Look beyond health covers

India is likely to count among the top three life insurance and 15 general insurance markets in the world by 2020. However, private insurance companies are to be find a way to operate profitably.

Losses accompany insurance sector growth cumulative red ink Rs 46k cr

At a time when the government-owned general insurance companies are reeling under heavy underwriting losses, the General Insurance Corporation (GIC), fearing higher claims, has tightened the noose on these companies by offering lower reinsurance capacities, cutting commissions and putting in stringent underwriting conditions while renewing their contract.

GIC sets stringent rules for state-owned general insurers

The Insurance Regulatory &amp; Development Authority (Irda) on Monday warned health insurance, motor insurance and other general insurance policies might turn costlier, with the settlement claims going up.

General insurance may turn costlier, says Irda

Get ready to pay more for the health cover provided by your company. While renewing group health policies, an increasing number of companies are opting for co-payment. This means a part of the claim amount has to be paid by the employees.

Company health cover to pinch more

The Insurance Regulatory and Development Authority (Irda) today raised the premium rates for third-party motor insurance policies by 10-65 per cent across different categories of vehicles and ownerships.

Irda increases premium rates for third-party motor insurance

The issue of regulating pension products of insurance firms and mutual funds will not snowball into a major turf war between watchdogs. This is because entities, not products, are regulated in India under the current regulatory framework, said Yogesh Agarwal, chairman, Pension Fund Regulatory and Development Authority (PFRDA).

Entities are regulated, not products: PFRDA chief

Three months before, a close relative passed away. The family, however, is still struggling to get the life insurance claim.

Life Insurance: V Philip

The children plan segment in the domestic life insurance industry is growing fast due to increasing awareness among consumers.

Children plan in life insurance business  posts fast growth

Mortality rates can change for the same age, because of the difference in features.

Cost confusion for the insured

When it comes to paying the annual or renewal premium on our policies, we want to avoid the botheration of visiting the insurance company. Most of us expect the agent to collect the premium from us and deposit it with the company. We feel the agent has a duty to provide this &ldquo;service&rdquo; as he is earning commission on our policy.

Pay premium to company, not agents

Life insurance providers launch children&rsquo;s plans all through the year, with variations. Max New York&rsquo;s College Plan, for instance, is for investing for your child&rsquo;s higher studies. These can be traditional or unit-linked policies meant for long-term planning for your children. And, this may be tempting because you want the best for your child.

Children's plans: Costly investment

Aspiring entrants to the insurance industry would now be required to start their ventures with a higher initial capital base than the prescribed level of Rs 100 crore.

Prospective insurers may need higher capital base

Banks are increasingly offering a range of tailor-made financial products; however, there are some downsides.

Shopping for insurance? Contact your bank

It&rsquo;s come as a body blow to shipping companies.

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