Kartik Jhaveri answers all your financial planning queries
Life insurance riders are additional benefits over a primary policy, which come into play in case of a specific eventuality
Life Insurance Corporation has offered relaxation to policyholders on payment of premiums due on inforce policies up to April 15
The exclusions are stiff. But since it is a cheap fixed-benefit plan, it can add to the health insurance kitty
A businessman, who owns a shop, factory, or godown can protect them by buying a standard fire and special perils policy. It provides cover against loss or damage due to riots, strikes
The regulator has also made it clear that in existing products where the cost of hospitalisation is covered, insurers have to make sure that cases related to coronavirus are dealt with expeditiously.
The maximum coverage that the product assures is to the tune of Rs 2 lakh
Micro insurance is specifically intended for protection of low income people, with affordable products to help them cope with and recover from financial loss
The Insurance Regulatory and Development Authority (IRDAI) recently gave the green light to 33 products and services under its regulatory sandbox framework
While the gross premiums underwritten by private non-life insurers grew by 17 per cent to Rs 69,488 crore, that of the state-owned non-life insurers grew by 12 per cent YoY to Rs 62,954 crore
Earlier this month, the telecom company introduced a Rs 279 prepaid plan, with Rs 4 lakh insurance cover from HDFC Life
The regulator also told insurance brokers to be more disciplined in filing their returns
Highlighting that the insurance industry is different from other business, he said if an insurer fails, it has bearing on customers as well
Irdai, in its order, clarified that neither the insurance broker nor the MISP can create such a panel of insurers for selling motor insurance policies
But in terms of sum assured or scope of coverage, the products are unlikely to meet your needs
Sum insured in health policies should be raised at key life stages and then every 3 years
The business premium in the same month of the previous year by these 34 non-life insurance firms stood at Rs 12,903.57 crore
It said that the wellness and preventive features shall be designed only with the objective of maintaining good health
The company will be merged into Reliance General