Page 2 - Insurance Policy

Appoint two-three key people as life policy's nominees, say analysts

Buyers should look it up to see which insurers have been quicker in settling claims.

Buying new policy instead of reviving old one could mean higher premium

But it means avoiding the premiums and interest for lapsed years, so do the math

Irdai reduces obligatory cession of premiums to GIC Re to 4% from FY23

Firm stands to lose about Rs 1,500 cr of premium, say experts

Senior citizens should buy health plans with lifelong renewability option

Buy a plan with a short waiting period for pre-existing diseases and low co-pay

Covid insurance makes sense if you have a comprehensive policy: Experts

Especially if sum insured is small, at say Rs 5-7 lakh for the family

Ensure you get continuity benefits when porting your insurance policy

Don't select new policy based on price alone; look for old one's shortcomings

Cash-strapped patients with Covid-19 infection can consider loans

In a health emergency, speed of disbursement is more important than cost

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

Supplement a policy with a substantial emergency corpus

Policybazaar IPO in 12-15 mos; parent firm gets boost from Bay Capital

Leading online insurance policy aggregator Policybazaar.com has got a capital boost from investment management firm Bay Capital, ahead of its initial public offering (IPO) in the next 12-15 months. Bay Capital, which manages money on behalf of institutions and endowments from the US and the Europe, has infused an undisclosed sum into the parent company PB Fintech of Policybazaar.com. "Bay Capital has completed a secondary transaction, ahead of the insurance aggregator's plans to launch an IPO in the next 12-15 months," Bay Capital said on Wednesday. However, how much capital has been infused by Bay Capital could not be ascertained. PB Fintech had attained the status of a unicorn in 2018 when it raised USD 200 million in a Series-F round led by Japan's Softbank. Siddharth Mehta, founder and CIO of Bay Capital, said PB Fintech has transformed the way insurance is bought in India. "Customer centricity has been the heart of their proposition and has helped them become the platform of

Term plan ownership is rising, but savings rule amid Covid-19 pandemic

Buying term plan under the Married Women's Property Act can ring-fence the compensation from creditors

Tax benefit on health insurance policy varies based on family size

Amount of insurance purchased should, however, depend on your requirement, and not just the tax benefit

Irdai set to introduce standard products for fire, allied peril risks

General insurers that offer fire and allied perils policies have to mandatorily introduce the same from April 1, 2021, replacing the Standard Fire and Special Perils (SFSP) policy

Paradigm shift in GenNext insurance

Millennials look for instant gratification from the products and services they opt for. Hence, traditional long-term products don't appeal to them much

Covid-19: Switch to comprehensive insurance policy for broader coverage

Waiting period gains of Covid policy stay intact

Irdai allows renewal, migration and portability of Covid-specific products

Renewal subject to insurer's underwriting policy, must be done before expiry of existing policy contract

Pandemic Pool: Is this the best the insurance sector could come up with?

In case of a calamity, the govt may need to step in to help those at the lower rung of the economic ladder and it may not need the insurance sector as a middleman in those circumstances

Insurance firms see surrenders decline in Q1, brace for trend to change

Companies look to hedge against policy surrenders by providing short-term loans as succour in pandemic

What you need to know about Arogya Sanjeevani health insurance policy

Launched by Irdai, the plan's main objective is to make insurance more accessible, affordable and less confusing for policy buyers

It's time for a retrenchment cover

All companies should be encouraged to have an insurance policy that improves the quality of conversation between the management and the employee during layoffs

Covid-19 brings insurance policies for directors back into mainstream

Enlightened buyers, particularly those with complex global exposures to litigious markets, are waking up and demanding sophisticated covers for their specific needs.