Panel suggests host of changes in life insurance sector

A committee constituted by the Irdai has suggested host of changes in the life insurance sector, including in the investment norms to improve the returns generated by the funds.

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Life insurers’ new premium up 6% in November at Rs 16,995 crore

The first year premium of the life insurance companies grew by a marginal 5.8 per cent to Rs 16,994.95 crore in November, data from Irdai showed.

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Apollo Munich eyes 30 per cent growth in FY18 premium collection

Apollo Munich Health Insurance today said it expects 30 per cent growth in the premium collection to Rs 1,700 crore by the end of the current fiscal against Rs 1,300 crore in FY17.

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LIC’s H1 income grows 13 pct to Rs 2.22 lakh crore

Life Insurance Corporation of India (LIC), the country's largest life insurer, on Tuesday reported a 12.56% growth in its gross total income for the six months ending September 2017 to Rs 2.22 lakh cr

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Aadhaar number LIC linking fraud is happening via SMS! Here’s what policy holders must not do to save their money

BEWARE! This fraud is taking place by means of SMS. Fraudsters are cheating customers in the name of linking Aadhaar number with LIC insurance policies.

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IndiaFirst Life starts micro-cover plan

In a first, IndiaFirst Life Insurance—a joint venture between Bank of Baroda, Andhra Bank and UK-based Legal and General—on Monday launched a bespoke micro insurance product, mainly targettng cust

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Are you LIC policy holder? Your money may be lost if you don’t read this important notice

Reading this may save you from a big loss. LIC of India has issued an important notification. The notice by LIC has been issued so as to save their customers from fraudulent activities.

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Medical policy: How to pick the perfect health plan; 5 amazing points to know

Every health plan has a sum insured limit which you are required to decide, on the basis of your health condition, at the time of buying a health plan.

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New India Q2 net soars threefold to Rs 748 crore

The gross written premium was Rs 6,489.15 crore, a growth of 12.18% compared to Rs 5,784.61 crore during the same quarter in the previous financial year.

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Aadhaar-Insurance Policies Linking: How to do it and what will happen if you don’t do it?

Aadhaar, Insurance Policies Linking: In a communication to all life and general insurance companies, IRDAI said the rules have statutory force and as such they have to implement them without awaiting

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Home insurance policy: Why you must buy one fast; 4 must-know points

With overall non-life insurance penetration standing at just 0.7% in India, it is not surprising to see a dismal contribution made by home insurance.

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Can group medical insurance cover be converted into individual policy on retirement? Find out

Yes, you can continue by converting your group health insurance into individual policy only with the same insurer.

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You have car, bike or other vehicle but no insurance? Here is what Modi govt is doing to track you

If you have a car, bike or any other vehicle but no insurance, then this is a must-read for you.

Will insurance plans change to better suit buyers’ long term interests? All you want to know

LIC and other major players have to lead insurers in asset management techniques, product development and cater to those who depend on insurance for meeting their long-term needs.

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Ulips among most demanded insurance scheme amid young recruits; check how it gained ground over mutual funds

Almost 90% of our young new recruits said they would be investing in unit-linked insurance plans (Ulips).

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Car insurance: What does zero depreciation offer cover? Find out here

The unique feature of a zero depreciation cover is to extend complete protection without any co-pay options. Zero depreciation cover is only offered to vehicle with a certain threshold that considers

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Insurance sector undergoing disruptions, trend to accelerate: Report

The insurance industry in the country is undergoing multiple disruptions in its functioning and the trend will accelerate in the future, a report says.

You can get no-claim bonus even if you change your insurer

– Manohar Bhat I am not satisfied with the services of my car insurer. If I change the insurer, will I get no claim bonus? – Ajit Pillai Yes, when you change your car insurer, you will be ent

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Why you must buy cancer insurance: These 3 reasons can save your life and money too

If you are the only breadwinner in your family, then you shouldn’t think twice before investing in a good insurance plan that covers you against life-threatening diseases such as cancer.

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Individuals, marketing companies to soon be part of Irdai database

The Irdai-backed central database unveiled recently will shortly bring individual agents as well as insurance marketing firms under its ambit.

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General insurance companies register 9% growth in July

Compared to the first three months of the current financial year, when the growth was in double digits, sales slowed down in July largely due to negative growth in three large public sector insurers.

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Insurance policy: Here is how you are now protected even more

Irdai has ordered insurance companies to mention important policy conditions like guaranteed surrender value, types of bonuses to be declared, details of revival schemes in the policy document itself.

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General Insurance Corporation of India files draft papers for IPO

General Insurance Corporation of India (GIC Re) on Monday filed a draft red herring prospectus (DRHP) for an initial public offering (IPO) with the Securities and Exchange Board of India (Sebi).

Birla Sun Life Insurance MD Pankaj Razdan explains why insurance is very challenging

The business of insurance allows me to deal with people either as customers, employees, distributors or advisers.

Irdai working with government to create a simple platform for KYC

Insurance Regulatory and Development Authority of India (IRDAI) today said though Aadhar is not a mandatory requirement for Know Your Customer (KYC) in the insurance sector, it is the most simple form

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How digitisation is helping insurance firms reduce the points of failure

As customers prefer instant solutions, digitisation has played a pivotal role. It is also making a noticeable impact in insurance.

Telematics can cut motor insurance cost for good drivers, says Irda

Motor insurance premium in future may be determined through black box-based real-time monitoring of driving habits, vehicle usage and even distances covered, as per a proposal mooted by regulator Irda

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