INSURANCE


IANS 15 February 2024
Enhancing the protection of insurance policyholders, the Insurance Regulatory and Development Authority of India (IRDAI) has proposed to enhance the free look period to 30 days in the case of life and health insurance policies.   Free look period is the period during which a...

Read More



Moneylife Digital Team 14 February 2024
The income-tax (I-T) department is learnt to have prepared an assessment report on how insurers used a string of intermediaries to pay off extra commission—over and above allowed under regulations—to their agents selling insurance policies, says a report. The I-T department estimates the...

Read More



IANS 07 February 2024
Insurance regulator, Insurance Regulatory and Development Authority of India (IRDAI) has approved the capital infusion by Axis Bank into Max Life, subject to the approval of the competition watchdog CCI. (competition commission of India).   The pension fund regulatory and development...

Read More



IANS 07 February 2024
The competition commission of India (CCI) has approved the acquisition of 70% stake in Kotak Mahindra General Insurance Company Limited by the Zurich Insurance Company.   The proposed combination involves the acquisition of a majority stake in the target by the acquirer from Kotak...

Read More



Abhay Datar 11 January 2024
As we all know, there are three categories in insurance, namely, life insurance, medical insurance and general insurance. Though medical insurance is a part of general insurance, it is mentioned distinctly because many aggrieved policyholders seek guidance on life as well as medical...

Read More



Sponsored Post 21 December 2023
In today’s times, health insurance has become a priority. It aims to provide financial protection during medical crises by covering hospitalisation expenses, medical bills and ambulance fees. Though health insurance plans, including family health insurance and health insurance for senior...

Read More



IANS 07 December 2023
The Indian insurance industry, including the sectoral regulator, is strangely silent on helping the policyholders affected by cyclone Michaung on the steps to be taken to prefer a claim—loss of property and life.   Due to the cyclone Michaung, Chennai got huge rainfall resulting in...

Read More



Maya Miller  and   Robin Fields (ProPublica) 17 November 2023
This story was originally published by ProPublica.   States have passed hundreds of laws to protect people from wrongful insurance denials. Yet from emergency services to fertility preservation, insurers still say no.   In North Carolina, lawmakers outraged that breast cancer...

Read More



IANS 06 November 2023
According to the flash figures issued by the industry lobby body General Insurance Council of India (GIC), the general insurance industry had earned a total premium of Rs23,814.64 crore, up from Rs0,954.89 crore earned during October 2022.   Within the overall, the 25-member general...

Read More



Moneylife Digital Team 03 November 2023
Coming down heavily for unethical practices and luxury of litigation in accidental death claim matters, the national consumer disputes redressal commission (NCDRC) directed Bajaj Allianz Life Insurance Company Ltd to pay the accidental death insurance claim of Rs20 lakh, a compensation of Rs5...

Read More



IANS 02 November 2023
Kotak Mahindra Bank Limited, Kotak Mahindra General Insurance Company Limited and Zurich Insurance Company Limited have entered into definitive agreements for a transaction whereby Zurich will invest approximately Rs4,051 crore to acquire a 51% stake in Kotak General Insurance through a...

Read More



Sponsored Post 31 October 2023
Insurance is a wonderful field to work in. Not only is the field easy to enter and highly rewarding, but it also offers the opportunity to help many people. It is a way of pooling resources to allow policyholders and their loved ones to stay protected from different kinds of...

Read More



Moneylife Digital Team 17 October 2023
Terming the repudiation letter issued by the insurance company as 'illegal and liable to be set aside', the national consumer disputes redressal commission (NCDRC) directed Birla Sun Life Insurance Co Ltd to pay a claim amount of Rs5 crore with an interest of 9% within two months to the...

Read More



Sponsored Post 13 October 2023
For new riders in India, owning a bike is a dream come true. Riding a bike is not just for commuting to another place; it's a passion, a thrill and an adventure. However, along with the excitement of hitting the open road comes the responsibility of securing your bike with insurance. While a...

Read More



A few days ago, Congress president Mallikarjun Kharge targeted the Narendra Modi government over skyrocketing inflation and unemployment, leading many people to surrender their life insurance policies. A survey by Deloitte and SBI Life Insurance mentioned that as many as 47% of policyholders...

Read More



Moneylife Digital Team 29 September 2023
While upholding an order passed by the state commission, the national consumer disputes redressal commission (NCDRC) dismissed an appeal filed by Life Insurance Corp of India (LIC) and asked the insurer to pay Rs47.90 lakh to nominees of the deceased life assured (DLA).   In an order,...

Read More



IANS 18 September 2023
Government on Monday announced family pension at a uniform rate of 30% for the welfare of the families of LIC employees.   It has also enhanced the gratuity limit from Rs3 lakh to Rs5 lakh for LIC agents.   Announcing a slew of welfare measures for LIC agents and employees,...

Read More



Abhay Datar 15 September 2023
Senior citizens continue to be duped into buying high-premium insurance policies, sold to them as annuity plans, with no attempt to stop or punish this widespread fraud.    As a banker and counsellor at Moneylife Foundation, I find it painful to meet distressed seniors, almost every...

Read More



IANS 01 September 2023
Indian insurance regulator has referred the curious case of Axis Bank and two other group companies buying shares of Max Life Insurance Company Ltd at a very low rate from shareholders/promoters of the insurer and selling them back at a very high price in a matter of few days, to the Reserve...

Read More



Cheryl Clark for ProPublica 01 September 2023
This story was originally published by ProPublica.   Have you ever had a health care claim denied by your insurer? Ever tried to appeal it? Did you wind up confused, frustrated, exhausted, defeated?   I’ve been a health care reporter for more than 40 years. And when I tried to...

Read More

Free Helpline
Legal Credit
Feedback