March 09, 2023 07:57 PM IST

What is the 15x insurance rule?

Bima Sugam: A platform that may transform the insurance business

Bima Sugam is expected to usher in greater simplicity, security, transparency, trigger innovation, and level the playing field for all players. It is expected to do for insurance what UPI has done for payments

LIC’s Jeevan Azad: Should you buy a traditional endowment policy with assured returns?

Guaranteed, tax-free maturity proceeds may sound inviting but low rate of return is a dampener for Jeevan Azad, as is the case with most non-participating, guaranteed endowment plans

Financial security for family is the top life goal for Indians: Bajaj Allianz Life Survey

Philanthropy has emerged as a new-age life goal, with more and more Indians wanting to give back to society and create a social impact, says the survey

Budget 2023: Tax tweak in life insurance to dent topline 10-12%, says HDFC Life chief

The Budget 2023 announcement to make changes to tax exemption policy on life insurance will likely have a 10-12 percent impact on the top-line products of HDFC Life and a five percent impact on the bottom-line products if nothing is done to mitigate the change, said Vibha Padalkar, MD and CEO, HDFC Life Insurance.

Budget 2023: Why insurance stocks took a beating after FM's speech

Union Budget 2023: The finance minister pushed the new income tax regime that does away with exemptions on investments. She also announced curbs on exemptions involving high-value insurance policies

Budget 2023 | Pension income should be made tax-free, says Bajaj Allianz Life CEO

Changes introduced by the regulator will allow insurance companies to be more flexible in terms of offering products to customers

Indians feeling more financially secure than in 2020, says a Max Life Insurance survey

The fifth edition of the India Protection Quotient Survey by Max Life Insurance covered 4,610 respondents across the offline and digital categories. On a scale of 0 to 100, the degree to which Indians feel protected from future uncertainties has increased four points from 2020 to 43 now.

Budget 2023: Insurers seek separate tax deduction basket for life policies, higher limit for health premium

Ahead of the budget, insurance companies also want finance minister Nirmala Sitharaman to accept their demand to exempt the principal component of annuities, or pension income from tax

More than 250 million Indians could have heath insurance policies by 2028

The segment has the potential to grow into a $25 billion market in the next five years, on the back of COVID-led rise in awareness, product innovation and rising disposable income, the investment banking major’s research predicts

Need Rs 50,000 crore capital infusion every year to double insurance penetration in five years: IRDAI chief

The Insurance Regulatory and Development Authority of India chief urges more conglomerates to enter the insurance space, and companies to bolster their grievance redressal mechanisms

What is 'sum assured' in term policies?

LIC going public, out-patient cover... 7 reforms that changed Indian insurance in 2022

The Insurance Regulatory and Development Authority of India (IRDAI) went on overdrive this year to facilitate ease of doing business, LIC went public, life insurance companies sold guaranteed return products on the back of higher interest rates while health insurers rolled out wellness and OPD benefits.

MC Interview: 2023 to see rise in margins and growth, says HDFC Life CFO Niraj Shah

The company is confident about margin expansion on a standalone basis at HDFC Life and the acquired business of Exide Life, says Shah. Shah is skeptical about the benefits corporate agents and distributors can derive from the tie-ups with nine life insurers, instead of the earlier three.

Looking to buy a term insurance policy? Calculate your Human Life Value (HLV) first

Buying a term life insurance policy is the decision of a lifetime. So, it’s important that the amount arrived at is correct. Human life value (HLV) is one of the methods of computing the right cover amount.

Insurance regulator reaches out to life and general insurers on COVID-19 preparedness

IRDAI has further asked life insurers to assess their capital situation.

LIC's aggression visible but private insurers still win on profitability

On an annualised premium equivalent basis, LIC reported a 30% YoY increase in business for November 2022. However, much of this growth comes from the group insurance segment as LIC’s retail market share is on a downhill

Double-digit growth in life insurance sector to continue, new proposals to boost business: Milliman India

The regulatory changes proposed by IRDAI will give a further boost to growth and also improve penetration, says actuarial firm Milliman India has said

Here's why buying term insurance from India is more beneficial for NRIs

NRIs must compare various available term insurance policies, their features, available riders, and claim settlement ratios online before buying a comprehensive insurance plan.

Interview: IRDA, govt steps to change industry structure in 5 years, says Kannan of ICICI PruLife

Last month, the insurance regulator allowed private equity funds to invest directly into insurance companies, non-promoters to hold up to a 25 percent stake, and eased solvency ratios for products.

How will IRDAI's latest proposal on agent commissions play out for policyholders?

IRDAI has allowed higher agent commissions within the overall expense cap, modifying its August 2022 proposal to drastically cut commissions. Under the new proposal, commissions may not come down, but one can save on premiums by buying policies directly from insurers.

Life insurers get wiggle room on spends, but don’t expect commissions to surge

The new EoM rules, and the bunch of relaxations on capital and distribution tie-ups that IRDA has announced, should explain the surge in the shares of listed life insurers.

IRDAI eases investment and solvency norms, allows corporate agents up to 9 tie-ups

The insurance regulator said the amendments will promote ease of doing business and simplify the process of setting up an insurance in India.

Understanding the workings of graded covers within group insurance policies

Insurance benefits could be differentiated on the basis of designation, salary, family size, or a combination of these factors.

LIC: Can the insurance whale put up a dolphin show?

LIC is serious about getting its growth mojo back and the 2.8-percentage-point market share gain during the quarter is a good start. But the big question is whether this is enough for investors who picked up its stock at the IPO to finally get any bang for their buck