ICICI Lombard General Insurance Co. Ltd, Reliance General Insurance and Edelweiss General Insurance plan to test this product soon. (iStock)

Coming soon: Floater motor insurance policies

2 min read . 17 Jan 2020 Disha Sanghvi

By choosing this policy, one shall entail benefits like premium leverage as multiple policies are not required to be bought and sum insured is optimized
Other benefits include change of details for all policies at one go and continuous coverage

The premium of all 34 non-life insurance companies during Apr-Dec period of 2019-20 rose by 15.41% to ₹1,42,023.78 crore from ₹1,23,061.94 crore a year earlier (Photo: Mint)

Non-life insurers log 12% rise in premium at ₹15,981 crore in Dec 2019

1 min read . 12 Jan 2020 PTI

As many as 34 non-life insurance companies had collected a total premium of ₹14,334.98 crore in the same month a year ago
Seven stand-alone private sector health insurers collected ₹1,258.14 crore premium during the month, up by 16.3% from a year ago

Photo: iStock

Best health plans for a sum insured of ₹20 lakh for 30 and 45 year olds

1 min read . 07 Jan 2020 Livemint

Here is a comparison of top health insurance plans for different sum assured and across different age groups
Only the A-rated health insurance plans have been shown here

The product will come with a fixed co-pay of 5%, which means you will have to pay 5% of the claim amount (Photo: iStock)

What the standard health insurance product offers

6 min read . 07 Jan 2020 Disha Sanghvi

It can be a good entry point for those who do not have a health insurance policy yet
The policy will cover room, boarding and nursing expenses but only up to 2% of the sum insured

The standard health product will be offered on indemnity basis only. (HT)

Insurers will soon offer a standard health insurance product

2 min read . 03 Jan 2020 Disha Sanghvi

In a circular, the regulator said the product shall be named 'Arogya Sanjeevani Policy' followed by the insurer’s name
Insurers will have to offer this product starting 1 April 2020

Until now, motor insurance premiums were typically dependent on the car’s make, model and variant

Get rewarded for good driving behaviour if you are in Pune

1 min read . 03 Jan 2020 Disha Sanghvi

The government has emphasized that traffic violation history be considered as a parameter to fix motor insurance premiums
Bajaj Allianz General Insurance is looking to offer a discount on motor insurance premium on declaration basis for citizens following safe driving behaviour in the city

Shares of HDFC were up 0.4% at ₹2,444.00 in noon trade

HDFC gets Irdai nod to acquire stake in Apollo Munich Health Insurance

1 min read . 02 Jan 2020 Devansh Sharma

In June, HDFC had agreed to acquire the entire 50.8% stake of Apollo Hospitals Group in the health insurance venture

The regulator has made changes to cover existing health conditions in favour of policyholders. Photo: HT

Health insurance: 10 new rules you should know

3 min read . 01 Jan 2020 Anulekha Ray

IRDAI has allowed policyholders to pay health insurance premiums in installments
Buyers will have the option to choose a TPA of their choice

You pay only for insurance and after the policy term ends, you don’t get any money back (Photo: iStock)

Term plan premiums: A ready reckoner

1 min read . 30 Dec 2019 Livemint

A look at premium rates for some insurance policies of a sum assured of 1 crore across three age categories for policy terms of 30, 25 and 20 years
The claims settlement rate is measured by the value of the policies as a lower settlement rate is indicative of high ticket-size policies being rejected

The central bank proposal on slashing banks’ holding limits in insurers will be discussed by Irdai, RBI and the FM next month.

Irdai considering capital infusion options for insurers

3 min read . 27 Dec 2019 Anirudh Laskar

This, if the RBI follows through on its informal proposal for banks to pare their stakes in insurance companies to 30%
A bank can hold up to 50% in an insurance JV in the normal course of business, as per current norms

Similarly, in a home insurance, most do not understand the meaning of placing the insurance at market value. (iStock)

A well-designed insurance plan can lower the chances of claim rejection

3 min read . 24 Dec 2019 Kapil Mehta

In traditional life insurance, two important considerations are the expected returns on maturity and surrender

Those who have already completed their KYC authentication are eligible for this in-app purchase.

ICICI Prudential Life Insurance offers term cover on Paytm

1 min read . 21 Dec 2019 Anulekha Ray

Now Paytm users can easily buy the ICICI Pru iProtect Smart plan within few minutes from the app
ICICI Pru iProtect Smart can get you get you covered till age of 85

Keep in mind that if you donated an organ before buying a policy and did not declare it to the insurer at the time of buying, the insurer can deny renewal if it. (Photo: iStock)

If you are an organ donor and have a health policy, insurers can’t deny renewal

2 min read . 18 Dec 2019 Disha Sanghvi

While more people are now pledging to donate their organs after death, live organ donation is still in its nascent stage in the country
All individuals above the age of 18 years are eligible to donate their organs, tissues and eyes

Private life insurers reported a growth of 11.46%

Complaints against life insurers spike by 6% in FY19

1 min read . 16 Dec 2019 Disha Sanghvi

As many as 102,127 complaints were filed against the public insurer LIC and private insurers attracted 61,137 complaints, regulator Irdai said in annual report
The first year premium for life insurers registered 11.39% growth in FY19 as compared to 10.75% in the previous financial year

Experts say that lengthy claims processes can sometimes be a problem, and harassed policyholders then seek assistance from other entities (Photo: iStock)

Do you need a claim adviser for health plans?

4 min read . 16 Dec 2019 Ashwini Kumar Sharma

Irdai recently cautioned policyholders against entities who call themselves ‘claim advisers’ as they do not come under its purview and are unregulated
It’s best to take the help of your agent, TPA or insurance company through which you bought the policy

You pay only for insurance and after the policy term ends, you don’t get any money back (Photo: iStock)

Term plan premiums: A ready reckoner

1 min read . 16 Dec 2019 Livemint

A look at premium rates for some insurance policies of a sum assured of 1 crore across three age categories for policy terms of 30, 25 and 20 years
The claims settlement rate is measured by the value of the policies as a lower settlement rate is indicative of high ticket-size policies being rejected

Wedding insurance policies aren’t very expensive, and you need to pay only a one-time premium (Photo; Getty Images)

Should you insure that big fat Indian wedding?

6 min read . 16 Dec 2019 Disha Sanghvi

Weddings are expensive affairs, so make sure you take a cover for any eventuality
Declare all the details such as the number of guests attending the wedding at the time of buying insurance

Warendra Sinha, managing director and CEO, IFFCO Tokio General Insurance

Penetration of general insurance is just 0.94% due to low awareness

4 min read . 16 Dec 2019 Renu Yadav

IFFCO Tokio General Insurance CEO Warendra Sinha speaks about how insurance is still a push product due to lack of awareness, especially in the general insurance category
The GIC is planning to come out with an awareness campaign in two-three months

The policyholder can only choose TPA from the names provided by the health insurers. Photo: iStock

Health insurance policy new rules: Now you can choose a TPA of your choice

1 min read . 15 Dec 2019 Anulekha Ray

Irdai has allowed policyholders to choose a TPA of their choice while buying or renewing a health insurance coverage plan
TPA plays an important role in processing health insurance claims

Photo: Mint

Life insurance policy rules will change from next year. All you need to know

1 min read . 14 Dec 2019 Anulekha Ray

In case of unit-linked products, the revival period has been increased to three year
The mandatory guarantee on pension Ulip segment will become optional from February 1

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