Page 13 - Life Insurance

20% boost in ticket-size of life insurance policies

Life insurers are now focused on need-based selling across all products

IndiaFirst Life looks at more bank tie-ups

The private life insurer, has taken part in some of the recent RFPs floated by banks such as IOB towards this end

Don't let high agent churn hurt you

While the company may send an alert, the onus is on the customer to ensure timely payments

Life Insurance: Amitabh Chaudhry

I have an endowment plan. Could I take a loan against my life insurance policy? What is the procedure? Will this affect my maturity amount? Yes, you may take a loan against your life insurance policy, once it acquires a guaranteed surrender value (GSV). To initiate the process, you have to give a written request at the branch. The company will fill you about the eligibility. Based on your confirmation and the required documents, the loan shall be processed and the amount deposited in your account. Subsequently, you will receive a loan repayment schedule, with the details regarding interest rates, equated monthly instalments (EMIs) and loan term.The loan will not affect your maturity amount, provided you pay all future due premiums and your EMIs on time. In default, the company may decide to adjust the loan amount from the policy's cash value and lapse the policy.An agent approached me, saying he can offer me policies from two different insurance companies? Is this legal? If both the in

Life insurers' new biz premiums up 4% to Rs 13,854 crore in July

Life Insurance Corporation's new business premium was the highest at Rs 10,737.92 crore, up 3 per cent

Fraud claims leave life insurers in a fix

Section 45 which says that no claim can be rejected after three of the life insurance policy being in force still remains a bone of contention among insurers

Life insurers infra investments up, equity assets down in FY16

Industry officials said this was on account of insurers primarily using bank branch networks to sell policies, apart from using other platforms like web aggregators and insurance marketing firms

Life insurance industry logs 33% growth in first quarter

Life Insurance Corporation of India has logged 37.53% growth in the new business during the first quarter of the current fiscal

Return of premium term plans can be avoided

You will be better off buying a plain- vanilla term plan, which costs less, and invest the balance in MFs

Reinsurance pie in life policies to get bigger

Currently, the reinsurance market is Rs 18,000 crore in India, of which life insurance only contributes Rs 1,200 crore-1,300 crore

Life insurers see 14% growth in ticket size

Average ticket size rises to Rs 17,952 in April-May period of this fiscal against Rs 15,774 in the same period last fiscal

Life insurers sees 14% growth in average policy ticket size

Private life insurers had a higher average ticket size than LIC

Readers' Corner: Life Insurance

Amitabh Chaudhry, MD & CEO at HDFC Life, answers your questions

Never too late to buy a term life insurance

For those between 50 and 60, it makes sense to have a policy if you have dependants and liabilities

Canara HSBC OBC Life net up 22%

This is the only life insurance company to have 100% bancassurance model and do not have any insurance agents

SBI Life ends FY16 with highest market share gains

LIC reported positive growth in APE for the first time in the past six years

ICICI Bank approves IPO for life insurance unit

ICICI Bank's board of directors has agreed to sell a part of its shareholding in ICICI Prudential Life

We are looking at tying up with small finance banks: Manoj Jain

Interview with managing director, Shriram Life Insurance

Life insurers lose 51,000 agents in FY16

Data shows that tLIC saw 1,02,044 agents exit in FY16 while its private counterparts made an addition of 50,766 agents

Life insurance AUMs touch Rs 25 lakh cr in FY16

Of the Rs 24.25 lakh crore, 21 per cent or Rs 4.9 lakh crore went into equity investments, while the rest went into debt