India has a major share of the millennial demographic — 34% of the total population — to be precise. While this might be a significant percentage, before the pandemic struck, this consumer segment seldom considered having an adequate insurance policy.
The Hindu
There has been a rise in awareness about the benefits of insurance, but the sector still has a long way to go
You can explore pay as you go model and work on deductibles, too Do you own a four-wheeler but find commuting via public transport on a daily basis more feasible than driving? Or are you someone who owns more than one vehicle but usually drives one of them more than the others? If yes, here are a few tips for you to save on your motor insurance premium.
Ministry of Road Trasport & Highways (MoRTH) on Saturday said that a valid FASTag is mandatory while getting a new third party insurance through an amendment in Form 51 (Certificate of Insurance), wherein the details of FASTag ID shall be captured and this will be applicable from April 1.
The Draft National Policy for Senior Citizens has rightly placed emphasis on promoting the existing pension programmes
India’s largest life insurer, Life Insurance Corporation, has raked in tidy gains on its equity investments so far this fiscal, thanks to a sanguine capital market. LIC has booked profits of ₹14,857 crore as against ₹11,437 crore last year for the same period (April to September) showing a growth of 30.37 per cent.
It will not be mandatory for businesses now to pay wages to their workers during the lockdown. The Home Ministry’s guidelines for the fourth phase of lockdown starting Monday has withdrawn the order for such an action.
State-owned Life Insurance Corporation of India said it has achieved highest number of policies for the last six years in 2019-20. In a round-up of its performance for the last fiscal, LIC said it registered a growth of 25.17 per cent in first-year new business premium when compared to private players who collectively achieved a premium growth rate of 11.64 per cent.
The 2020 Olympics have been postponed amid the global coronavirus pandemic that has brought nearly all sport to a halt worldwide.
Growth has been driven by LIC's products that were closed and re-launched in February
Says IPO of insurance major will not lead to change in ownership
Crosses last fiscal’s figure with 67 days to spare this year
An insurance company’s obligation to pay out is contingent upon whether the premium has been paid
Life Insurance Corporation of India said it has registered a significant increase in market share in the current financial year and that its market share during November 2019 is 84.82% in the number of policies and 71.59% in first-year premium income.
Ideally, sum assured should be 12-15 times of your dependent family’s annual expenses
The corporation started the financial year with 74% share in life insurance policies and 66% in first-year premium income.
When life ends prematurely, hope has another name. Life insurance. The real benefit of life insurance has been clouded by less important objectives like investment returns and tax benefits, especially in India. At its core, life insurance protects against the risk of dying too soon.
If you thought debt funds were a bad idea earlier this year, then the DHFL saga in June 2019 would have given you a shock about corporate deposits. If you then consoled yourself saying there are still banks, the PMC Bank episode would have broken that thin confidence left.
PMC Bank depositors protest outside Asiatic Society, in Mumbai on October 19, 2019.
The insurer reported first-year premium of ₹89,980.2 crore
In a customer friendly move, the Insurance Regulatory and Development Authority of India (IRDAI) has now said that insurers must make sure that travel portals do not make travel insurance a pre-selected option.
The insurer has come to the government’s rescue in its disinvestment agenda, time and again
Across the country, there has been a mad rush to renew lapsed insurance policies by motorists, thanks to the new Motor Vehicles Act that has imposed heftier fines for those driving uninsured vehicles. Apart from the fine, there are other reasons why you should renew your lapsed motor insurance policy.
Market share of the insurer rose to 73.1 per cent
State-owned Life Insurance Corporation (LIC) of India registered a 6.08 per cent increase in its total premium income to ₹3,37,185.40 crore in 2018-19 against ₹3,17,850.99 crore in 2017-18.
The Insurance Regulatory and Development Authority of India (IRDAI) on Friday allowed insurers, with effect from September 1, to issue standalone annual own damage (OD) cover for cars and two-wheelers, both new and old.
The Reserve Bank of India cut the repo rate by 25 basis points for a third consecutive time on Thursday and also shifted its stance to accommodative from neutral amidst concerns about slowing growth.
Life Insurance Corporation of India registered 5.68 per cent growth in premium at ₹1,42,192 crore
LIC switches to SMS alerts for policy premium and maturity reminders
LIC has so far settled 300 claims under the mega farmer insurance scheme, Rythu Bandhu.
Collects ₹29.16 crore as premium in nine months since launch
The Life Insurance Corporation of India, on sympathetic grounds, disbursed around ₹3.35 lakh in insurance claims to the wife of a TNSTC bus conductor who was killed in an accident, along with eight others, along the Ooty-Coonoor Road near Manthada, a few days ago.
Life insurance firms reported an increase of about 27 per cent in new premium collection in February at ₹13,698.52 crore, data from insurance regulator IRDAI showed on Wednesday.
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Indians are more likely to have a vehicle or life insurance than health insurance, according to a survey by private research firm, Chrome Data Analytics and Media (CDAM). Only 31% of Indians had medical policies independent of those provided by their employers in spite of nearly half the survey respondents admitting to having faced a “financial emergency” due to medical needs.
Life Insurance Corporation of India (LIC) on Tuesday said it had invested Rs. 44,000 crore in the equity markets between April-November this year, a rise of 52% over the year-earlier period.
The recapitalisation of public sector banks (PSBs) through bailouts, be they as budgetary allocation or some sort of bond issue, has evoked much discussion. The Insolvency and Bankruptcy Code is cited as adequate punishment for defaulting borrower companies.
As child-centric disorders like autism get diagnosed more often, insurance companies are looking to provide standalone products or add-ons to existing ones.
In order to keep pace with the current insurance and gen-next trends, Life Insurance Corporation (LIC) of India would soon allow loans to be procured online.
State-owned insurer’s equity investments yield 145% profit growth in April-June
On June 12, the insurance regulator had taken over the administration of Sahara India Life Insurance
The Insurance Regulatory and Development Authority of India (IRDAI) has taken over the administration of Sahara India Life Insurance, a first of its kind move in the insurance sector. It has named R K Sharma, General Manager, IRDAI, as administrator to manage the affairs of the insurer.
LIC’s Jeevan Umang is for conservative investors looking for periodic pay-outs Entry age is 90 days Regular payout of 8% of sum assured from the end of premium payment term
New order will override the one issued on March 28; relief for goods-carrying vehicles, cars, tractors, two-wheelers
You must necessarily create a stable income stream to meet your monthly expenses
More than 150 million patients with mental illnesses could soon get help with coverage under health insurances, but at a cost — insurers are hinting at an increase in premium.
The Budget broadly focussed on Agriculture sector
The Budget broadly focussed on Rural population
The Budget broadly focussed on For youth
The Budget broadly focussed on For the poor and underprivilege health care
The Budget broadly focussed on Financial sector
The Budget broadly focussed on Infrastructure and railways
The Budget broadly focussed on Energy sector