Insurance Policies

How wholelife plans can help transfer tax-free wealth to next generation

The policies provide cover till age 90-100 years; if payout comes as death benefit, it will be tax-free in the hands of nominees

$19 bn derivative bond trade in India at risk from Modi's new tax

Analysts say a New Delhi plan to tax high-value insurance policies will reduce demand, leading the industry to cut back on bond investments

Budget 2023: Tax on high-premium policy may hit life insurers' top line

The stocks of life insurance companies reacted sharply to the announcement of the finance minister on Wednesday, with most scrip witnessing around 10 per cent fall in a day

Mixing investment and insurance: Finding the right balance for your needs

Age, returns and security are some factors you must consider before your purchase a plan

Buy more insurance cover if your liabilities have increased in the year

Hike health insurance coverage as well to keep pace with medical inflation

Demat of insurance policies: LIC mulls creating its own repository

Dematerialisation of insurance policies is being promoted by the regulator to ensure robust electronic mode of policy solicitation, servicing, and storage

Planning to buy an insurance policy? Here is what you need to know

There are three main components of an insurance policy: premium, sum assured and deductibles

Get car engine insurance to keep you afloat during rains, say experts

Roadside assistance and outstation emergency add-ons are useful

Claim can be denied if key information is suppressed

The District Commission ordered LIC to pay and settle the claim under all the 13 policies

LIC IPO: 10.8 million eligible to avail of policyholders' quota

LIC had over 282 million policies in force as of September 30, 2021, but policyholders tend to have more than one policy

Budget 2022: Healthcare providers seek favourable insurance policy

Healthcare providers suggest that the Union government bring in a favourable policy in the upcoming Union Budget to encourage all Indians to opt for health insurance

Indian insurers put in place waiting period for people recovered from Covid

People who have recovered from coronavirus infection will have to wait for up to three months before they can take a new life insurance policy

Covid insurance policies will also cover Omicron treatment costs: Irdai

The regulator has issued the directive to general and health insurers in view of the growing number of cases of the Omicron variant

Get policy terms changed during free look-in period

The commission observed that the cheque was remitted in accordance with the terms of the policy, and it was not possible to hold the company liable

Understand policy coverage before buying

The National Commission observed that both the insured and his spouse were doctors and hence capable of understanding the scope of the policy

Insurer must pay declared value for total loss

The National Commission agreed with the State Commission's view that neither party had managed to prove that the price mentioned by them was the last market price

PNB MetLife announces Rs 532 crore bonus for policyholders in FY21

PNB MetLife India Insurance Company has announced a bonus of Rs 532 crore for the eligible policyholders of participating products during 2020-21. This bonus is 7 per cent higher than that in previous year. PNB MetLife said it has been consistently declaring bonus on participating products every year and 4.6 lakh customers, whose policies are in force as of March 31, 2021, will be benefiting from this bonus. Policyholder bonus is the share of profits generated by the company's participating funds which is paid to the customers at various benefit events. PNB MetLife's strong fund management capabilities coupled with robust risk management practices have enabled the company to reward policyholders with higher bonus payouts, the insurer said in a release on Friday. Ashish Kumar Srivastava, MD & CEO, PNB MetLife, said despite these trying times, the company has delivered steady growth on participating products over the years. "The declaration of this Rs 532 crore bonus reinforces our

Don't delay choosing nominee for life insurance policy, say analysts

Select a dependent or person likely to shoulder family's financial responsibilities

Low sum insured, sub-limits give rise to partial payouts: Experts

Supplement a policy with a substantial emergency corpus

Irdai extends timeline for sale and renewal of Covid specific products

Earlier, insurance companies were allowed to offer these policies till March 31, 2021