Page 2 - Life Insurance Policy

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

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

Tata AIA Life Insurance FY21 total premium up 34% to Rs 11,105 cr

Private life insurer Tata AIA Life Insurance (Tata AIA Life) on Monday said its total premium income grew by 34 per cent to Rs 11,105.09 crore in fiscal 2021 as against Rs 8,308.51 crore in FY20. It registered a 26.9 per cent jump in individual weighted new business premium (IWNBP) income to Rs 3,416 crore in FY2020-21 as against Rs 2,692 crore in FY20, the insurer said in a release. The total renewal premium income has also witnessed a 37 per cent growth compared to the last financial year and increased from Rs 5,066.49 crore to Rs 6,961.36 crore, it said. "We kept up the momentum of our business even in the most disruptive year. Our market share grew, outpacing industry growth yet again and we continue to maintain our leadership in protection, having registered the highest growth in the last two years," Tata AIA Life Managing Director and CEO Naveen Tahilyani said. Total assets under management (AUM) grew by 47.16 per cent to Rs 46,281 crore in FY21 from Rs 31,450 crore in the la

LIC's holding slips to an all-time low of 3.66 pc on profit-booking

LIC's holding across 296 companies where its holding is more than 1 per cent, slipped to an all-time low of 3.66 per cent as on March 31, 2021, down from 3.70 per cent as on December 31, 2020

ICICI Prudential Life Insurance Q4 consolidated net profit declines 65%

The company's Board of directors recommended final dividend of Rs 2 per equity share

Tweak your portfolio to help it meet challenges of the new financial year

Check whether you saved adequately during the previous financial year, your asset allocation is in sync, and you have adequate life and health insurance

Go for group life insurance cover if policy rejected, say analysts

You can opt for insurers with easier underwriting, or alternatively, a standard term

Coming soon: Pay life insurance premium in advance, get a discount

IRDAI proposes to link discount with SBI savings bank rate, which is currently at 2.7%

Banks, brokers get most complaints for mis-selling insurance products

In 2018-19, banks received more than 12,000 mis-selling complaints; brokers close to 11,000. The number was even higher in FY18.

Irdai introduces 'Saral Pension', a standard individual annuity product

It is an immediate-anuuity product comes that all life insurers must start offering by April 1

AU Small Finance, ICICI Pru Life tie up to offer life insurance solutions

Through this tie up with ICICI Prudential Life Insurance, AU Bank aims to deliver paperless, secure, and hassle-free life insurance solutions

Irdai to bring in standard vector-borne disease cover of up to Rs 2 lakh

Policyholders can choose protection against any one or more ailments such as dengue, malaria, filaria, etc; price for every covered disease to be set separately

Saral Jeevan Beema for Bharat: Irdai introduces standard life product

All insurers to offer the product from January 1, 2020

Do your research well before buying a life insurance plan for the long run

Customers must also avoid the temptation to cash out of their policies mid-tenure, once they have gathered considerable fund value.

Life insurers find their mojo but experts sound cautionary note

Product launches will be critical for companies to sustain the momentum this financial year, especially in the term-protection segment

Looking for Covid-specific insurance? these policies could be of use

It makes sense to buy Arogya Sanjeevani or the two new policies that the IRDAI has proposed even if you have a comprehensive policy

How to claim income tax deduction for investments made in April - July 2020

One of the key points to note while accounting for these investments made from April to July is that a deduction once claimed in FY20 on an investment made, cannot be claimed again for FY21

Life insurance sector to see green shoots in medium to long-term: Edelweiss

With an uncertainty over cash-flows in focus, a goal-based financial planning has become a priority area for many families and insurance as a product category has seen a spurt in demand

With 30 days more to pay premium, make sure you don't let your policy lapse

Usually, general insurers give 30 days for health and 90 days for auto insurance policyholders to pay renewal premiums, even after the due date has passed

Utilise extended deadline to make the right tax-saving investment choices

Avoid errors like investing beyond the permissible limit

How LIC should be valued

The Life Insurance Corporation differs from its listed peers in a number of ways, and these should be factored into its valuation prior to its proposed initial public offering