Insurance

Claim settlement in motor and health insurance declines

Incurred claim ratio, which indicates difference between claims paid and premium received declined in FY 2019-20.

by Bhakti Makwana Mar 4, 2021

Complaints on policy servicing, settlement of survival and death claims go up: IRDAI

Life insurance industry has witnessed increase in complaints related to policy servicing and settlement of survival and death claims in financial year 2019-20.

by Bhakti Makwana Mar 3, 2021

Life insurance is Rs.39 lakh crore industry: IRDAI

LIC, SBI and ICICI Prudential are the top three players in the life insurance industry in terms of AUM.

by Team Cafemutual Mar 2, 2021

Penetration of Indian insurance industry is just 3.76% of GDP

The penetration of Indian insurance has marginally improved in one year. However, the country is much behind the global average of 7.23%.

by Bhakti Makwana Mar 1, 2021

Insurers can pay dividend to policyholders this financial year: IRDAI

In April 2020, IRDAI had urged insurance companies not to pay any dividend to policyholders and conserve capital in the interests of policyholders.

by Nishant Patnaik Mar 1, 2021

Individual agents rule life insurance business

Individual agents account for 60% of new business in life insurance.

by Bhakti Makwana Feb 25, 2021

Claim related complaints on a rise: IRDAI

Life and nonlife companies received 33,000 claims related complaints each.

by Bhakti Makwana Feb 19, 2021

Insurers to offer Index linked insurance policies (ILIPs) soon

ILIPs will track market index with the benefit of insurance cover.

by Team Cafemutual Feb 16, 2021

Max Life, HDFC and Tata AIA much ahead of LIC India in claim settlement

In fact, 14 private life insurers have better individual death claim ratio than LIC India.

by Bhakti Makwana Feb 16, 2021

Insurers to offer standard pension plans for retired

IRDAI asks life insurers to offer the standard individual immediate annuity product, called ‘Saral Pension’ from April 1, 2021.

by Bhakti Makwana Feb 15, 2021

Insurers to offer standard travel insurance policy

The standard travel insurance policy will be available from April 1, 2021.

by Bhakti Makwana Feb 8, 2021

2020 not so good for insurers

While life insurers saw a 2% decline in new business premium collection, general insurers record a marginal growth of 3% in 2020.

by Team Cafemutual Feb 5, 2021

The new taxation norms in ULIPs will be applicable from February 1, 2021

So far, ULIP investors. Wealthy investors were drawn to ULIPs as ULIPs were exempted from paying capital gains tax.

by Team Cafemutual Feb 2, 2021

Clarification: Insurance agents/ intermediaries cannot become director of LIC India

Yesterday, we had reported that no agent can become a director anywhere. However, the restriction applies only to directorship of LIC.

by Team Cafemutual Feb 2, 2021

ULIPs no longer offer tax arbitrage

ULIPs will be taxed liked MFs if annual premium exceeds Rs.2.50 lakh.

by Bhakti Makwana Feb 2, 2021

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