Insurance

IRDAI appoints MF officials on its newly formed investment committee

Three MF officials are now part of IRDAI’s consultative committee on investment.

by Team Cafemutual Feb 23, 2023

1.10 lakh new agents join life insurance industry in 2022

SBI, HDFC and Bajaj Allianz have added highest number of individual agents last year.

by Team Cafemutual Feb 20, 2023

HDFC Life partners with NSDC to create new agents

The company along with NSDC will train individuals to become insurance agents.

by Team Cafemutual Feb 16, 2023

ManipalCigna launches health plan for senior citizens with maximum entry age of 75 years

The waiting period of pre-existing condition is 90 days.

by Team Cafemutual Feb 15, 2023

Tax relief: Existing policyholders are exempted from paying tax on maturity proceeds

The proposed taxation norm on maturity proceeds of life insurance policies other than ULIPs is not applicable on existing policies.

by Karishma Gagwani and Nishant Patnaik Feb 4, 2023

Tax googly: Investors paying insurance premium of over Rs.5 lakh will not get any tax exemption

However, policyholders can get tax exemption on insurance proceeds on death claims.

by Karishma Gagwani and Nishant Patnaik Feb 2, 2023

Now, investors can make financial transaction through a simple voice call

NPCI has tied up with HDFC Life to offer voice-based payment facility to pay premium.

by Team Cafemutual Jan 27, 2023

Indian insurance business is close to Rs.55 lakh crore industry

The AUM of life insurance is Rs.50 lakh crore and non-life insurance is Rs.5 lakh crore.

by Nishant Patnaik Jan 27, 2023

Do you know how many insurance agents are active?

Typically, agents having general insurance and health insurance distribution business along with life insurance are considered as active. Today, close to 7 lakh insurance agents are associated with general insurers and health insurers.

by Nishant Patnaik Jan 25, 2023

Agents/intermediaries earn 6% gross commission on insurance premium

IRDAI data shows insurance industry paid Rs.53,000 crore to agents/intermediaries in FY 2021-22.

by Nishant Patnaik Jan 24, 2023

Aviva Life launches a ULIP with partial withdrawal or systematic withdrawal facility

The plan is especially created for millennials investors.

by Team Cafemutual Jan 20, 2023

Life insurance is Rs.50 lakh crore industry

In terms of AUM, LIC, SBI and ICICI Prudential are the top three players.

by Team Cafemutual Jan 10, 2023

On premium of Rs.100, health insurers pay Rs.106 as claim

Incurred claim settlement ratio of standalone health insurers and a few private companies is abysmally low at less than 70%.

by Nishant Patnaik Jan 10, 2023

‘Insurance penetration is just 4.2%, much less than the global average of 7%’

While the life insurance penetration was 3.2%, very well in line with world average of 3%, the penetration of non-life was 1%, much less that the global average of 3.9%.

by Team Cafemutual Jan 9, 2023

Here is how your non-life company has performed in terms of settling claims

Just 4 companies have settled 90% of the total claim request received in FY 2021-22.

by Nishant Patnaik Jan 4, 2023

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