In a bid to ensure higher volumes, New Pension Scheme (NPS) fund managers have told the Pension Fund Regulatory and Development Authority (PFRDA) that they should be allowed to use their respective distribution networks (mutual fund agents) to sell the pension plan.

Let MF agents sell pension products: NPS managers

Business Standard

Reliance Life stake sale gets Irda nod

ICICI Prudential Life Insurance Company on Thursday announced the launch of ICICI Pru Elite Life and ICICI Pru Elite Wealth. These ULIP products are designed to provide the best-in-class value along with multiple options of investment strategies.

ICICI Pru offers two new Ulip schemes

Regulator plans minimum death benefit at five times the annual premium.

After Ulips, traditional plans come under Irda scanner

The non-life insurance industry is expected to grow by over 18 per cent by 2015 to become a Rs 90,000-crore sector from the current level of Rs 47,000 crore, the Associated Chambers of Commerce and Industry of India (Assocham) has estimated.

Non-life insurance sector to reach Rs 90,000 cr by 2015

Insurance companies may have to set a minimum rate of return for each category of debt instruments they invest in.

Insurance cos may have to standardise debt returns

After roping in Nippon Life in the life insurance business, Reliance Capital is now looking to sell 26 per cent stake in Reliance General Insurance Company, its subsidiary.

R-Cap may sell 26% in general insurance firm

My car was inadvertently insured twice with two different insurers. I feel there is no point in keeping both the policies.

General Insurance: Gaurav Garg

The much-awaited bancassurance guidelines might take some more time to come out. The regulator is considering the reaction to certain issues, such as protests from bank-backed insurance companies and the Life Insurance Corporation of India (LIC).

Wait for bancassurance norms gets longer

Insurance excludes instruments, cars and drivers, already covered globally.

$100 mn cover for Formula 1 Grand Prix

With flows for Ulips drying, life insurance companies invest just a fraction of what they did last year.

New Ulip rules rob market of insurance

Looking beyond the price could help you pick the right cover.

Shopping for life cover online?

Premium collection of the life insurance industry in India continued to decline in August. During the April-August period, the industry collected premiums worth Rs 71,565.49 crore by writing new policies. This was a fall of 22.07 per cent, compared with Rs 91,833.94 crore collected in the corresponding period last year.

Life insurers' premium mop-up falls

I have paid two annual premiums of Rs 40,000 each for a unit-linked insurance plan (Ulip) which is currently in loss. I also recently came to know of the high charges levied, which weren&rsquo;t explained to me by my agent. I want to cancel the policy.

Life Insurance: V Philip

Life insurance companies and agents are looking at life beyond strict regulatory guidelines. Lending a helping hand are &lsquo;riders&rsquo;, that is, the add-ons with the base policy.

Riders get rewarding for life insurers

Recently, we bought a car on loan. The dealer gave us complimentary third-party motor insurance for the first year. However, we are also interested in taking some add-on covers.

General Insurance: Bhargav Dasgupta

When Ashish Patkar wanted to buy an accidental death-benefit policy, he had the option to do so from a life insurer or a general one.

To go for a rider or a cover?

The policy, as the name suggests, provides term insurance to senior citizens.The minimum and the maximum entry age are 50 and 85, respectively. Though the product offers a whole life cover, it does not ask buyers to undergo medical tests.

High sum assured may not give enough cover

Transfer formalities at the regional transport office on purchase/sale of vehicles can take time. While the process is pending, the insurance policy continues in the name of the seller. What happens if the vehicle meets with an accident or is stolen during this period? If the buyer lodges a claim, the insurer refuses to indemnify him as the policy is not in his name. If the seller lodges the claim on behalf of the buyer, the insurer contends once the vehicle is sold, he ceases to have an insurable interest, and, hence, is not entitled to lodge a claim. Thus, though the premium has been collected, the claim is paid neither to the seller nor the buyer.

Motor insurance on auto pilot

The Insurance Regulatory and Development Authority (Irda) is not in favour of changing the norms that bar insurance firms from investing in Indian Depository Receipts (IDRs), according to a senior official.

Irda not keen to allow insurers to invest in IDRs

Currently, all overseas Mediclaim policies have an in-built health cover, besides travel inconvenience benefits like baggage loss/ delay, passport loss, etc. Hence, there is really no choice that the customer needs to make, except which is the most comprehensive cover.

Page 114 - Insurance