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Life insurance may not appear to be an immediate priority when you're young, but an early start will save you money and provide peace of mind.
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With in the non-life insurance space, the note finds more upside potential in the reinsurance sector while India's life insurance plays are poised for a most growth upside among Asia, riding on the demographic dividend.
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Policyholders now have to the option to lock in tax savings on new insurance and renewals, with insurers offering the option to buy zero-GST policies ahead of September 22 rollout.
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The effect on volumes, product mix and profitability will depend on how distribution channels adjust, how insurers reprice to offset the loss of input tax credits, and whether employers push individual policies over group benefits.
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Presiding Officer Shelly Arora was hearing the claim petition by the family members of the victim, Yaseen Khan, who was run over by a bus while riding a two-wheeler on May 19, 2023.
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Premium income for private insurers climbed 10.84 percent to Rs 65,410.42 crore during the period under review, up from Rs 59,013.14 crore last year. LIC, on the other hand, posted a modest 3.02 percent growth, collecting Rs 98,051.09 crore compared to Rs 95,180.63 crore a year ago
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Your guide to decoding the GST exemption on life and health insurance policies
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With the GST Council continuing to levy 18 percent tax on group health policies, employers may scale back group coverage and shift toward allowances for individual insurance coverage plans.
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Lower entry costs will encourage first-time buyers to consider insurance policies both in life and general plans, and wider adoption and a large customer base is where we see real growth and potential, say industry leaders.
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Higher growth augurs well for life insurers’ future profits and therefore investors are likely to rejoice this move.
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There is a delay in the deal, as we would like to observe the evolving health insurance market closely before making any definitive move, says Doraiswamy
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Angel One aims to disrupt the life insurance segment through the joint venture, which will be a first in India as a fintech-partnered life insurance business. Angel One said the business is being built for India's 'growing base of digital-native consumers'.
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Claims paid ratio is the percentage of claims an insurance company successfully paid out compared to all claims received in a certain period; that is why carefully checking an insurer's claims process, especially their CPR, is vital.
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This implementation is aimed at giving insurers time to build the necessary internal capacity for the model without disrupting day-to-day operations.
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A judicious mix of sufficient health cover, life insurance and a substantial nest egg could spell ease in the sunset years
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HDFC Life, ICICI Prudential Life to report on July 15. The companies are likely to begin reconfiguring their product mix and offer more traditional participating and non-participating savings products.
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Common mistakes when buying insurance: Smart investors often make common mistakes when buying insurance — such as underestimating the importance of term insurance, relying solely on employer-provided cover, or prioritising lower premiums over policy features and claims support — which can result in inadequate coverage and financial vulnerability.
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The total premium of life insurance companies have grown at 10 percent CAGR in last five years, according to the press release.
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Composite licensing could help attract greater foreign direct investments, as it would encourage global health insurance experts to enter the Indian market, Satishwar says
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Most credit cards offer complimentary air accident insurance, providing financial protection to primary cardholders in case of death due to air accidents, with varying coverage and terms.
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Major players such as HDFC Life Insurance, ICICI Prudential Life Insurance, SBI Life Insurance, and Bajaj Allianz Life Insurance have significantly cut their exposure to group product category in FY25.
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Prominent insurers such as Star Health and Allied Insurance, Niva Bupa Health Insurance, HDFC Life Insurance, Tata AIG General Insurance, and Life Insurance Corporation of India (LIC) have found themselves at the forefront of data breaches
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Mortality rate for insurers such as HDFC Life, ICICI Prudential and SBI Life is higher than the Covid-19 peak
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Of 10 banks surveyed on commissions earned through their insurance arms, seven earned more than half of their insurance commissions by selling policies from affiliated insurers, a report says
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The group insurance segment has emerged as the key growth engine in May, contributing over Rs 19,850 crore which is higher by more than 13 percent from last year.
