The web aggregators offer price comparison, claim settlement ratio and broad features but are silent on issues which may call for one-to-one discussion or explanation.
Exiting a policy contract, after the cooling off period as provided by the insurance regulator, is almost impossible though one can surrender the policy after keeping it in force for a certain number of years.
LIC has the potentiality to generate wealth for investors due to its consistent growth record, firm grip on market share and an enviable claims settlement record
However, suicide after one year of taking a life insurance policy is considered as good as death from natural causes and claims are settled without any hassles
The pandemic has upset many age-old assumptions about financial security and has put the focus on preparedness to tackle the worst. Now all these need to be offered without massive paperwork that insurers generally heap upon
Universalising life insurance can help citizens in case of a financial crisis, whether at individual or national level, during their lifetime as well as after death
From offering financial protection against any eventuality in the time of Covid to raising a loan to meet your daily expenses, a life insurance plan can literally be a life-saver
Following the PMC Bank scam, policyholders are also worried about their investments in insurance companies. However, the Insurance Act provides several safeguards for policyholders