In the past, foreign reinsurers have expressed discontent over the fact Indian reinsurers being given first preference in treaties.
These plans are best for those with flexible income patterns
Risk-based premium as a concept is followed in several countries where insurance premium is dependent on individual behaviour.
When you are young and healthy, your risk to health insurance companies would be less and hence premium would be lower.
The Jeevan Jyoti Bima or the term insurance product has an annual premium of Rs 330 while the accident insurance Suraksha Bima Yojana has a yearly premium of only Rs 12 annually.
While buying term life insurance plan online, challenge arises when the insurer throws up multiple claim settlement options.
Insurers have also been directed to liaise with the police authorities to facilitate issue/renewal of third party liability policy to owners.
Not only will Amazon will invest close to Rs 100 crore but the retail giant will also develop financial products along with Acko which will also act as distributor of those products.
National Insurance's IPO will most likely come out in Q1 of FY19.
Policyholders are usually unware of the policies sold until the time of the renewal when reminders are sent.
The private life insurer was listed on the bourses recently
The move would also help Indian Insurers to set up their offshore office in GIFT SEZ IFSC to undertake dollar business which otherwise was restricted in India.
To enhance penetration there should be transition from a pure insurance model to a 'managed care-model' with suitable changes in the regulations.
Whether it be an earning member or a home-maker, women should opt for specific insurance cover for financial security.
New India Assurance is the leader in aviation insurance covering all major airlines of India like Air India, IndiGo, Spice Jet, Vistara and Go Air.
Insurance products are among the most complex financial instruments due to usage of technical terminology
The new rates will be applicable from January 1, 2018.
Insurers need to constantly scan their product suite and ensure coverage of all product and customer segments
If you want to purchase health insurance for a respectable sum which will fetch a good healthcare for you after accounting for inflation of around 12 to 15 per cent, you have to buy a health insurance for yourself.
Insurance want to improve penetration of products by giving tax incentives to customers
In terms of AUMs, we are touching Rs 2.2 lakh crore, which is a 47 percent growth on a year-on-year basis, he said.
G Srinivasan, chairman and managing director, New India Assurance, said that their cover will only kick in once the film gets the final certification from the CBFC.
In the general insurance space, ICICI Lombard General Insurance and New India Assurance got listed recently.
While the purpose of travel could be business or leisure, they often offer diverse experiences and yet come with a common set of travel risks.
One should look at the costs in the light of the benefit these add-ons offer and accordingly purchase them.