INSURANCE


Moneylife Digital Team 07 May 2021
The Insurance Regulatory and Development Authority of India (IRDAI) has issued the framework for a standard domestic travel insurance product, to be called “Bharat Yatra Suraksha”.   The policy will provide coverage for hospitalisation expenses, death, permanent complete or partial...

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Moneylife Digital Team 07 May 2021
A screenshot of a LinkedIn post by ISB (Indian School of Business) gold medallist Sarthak Ahuja has recently gone viral on WhatsApp and other social media with a claim that if someone with active employment passes away due to COVID-19, his or her legal heirs are eligible to receive money...

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Moneylife Digital Team 30 April 2021
The Insurance Regulatory and Development Authority of India (IRDAI) has directed that health insurers have to decide or clear requests for cashless treatment and final discharge from hospital within one hour of receipt of the request. The instructions come into force with immediate...

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Moneylife Digital Team 26 April 2021
In a significant decision, the Insurance Regulatory and Development Authority of India (IRDAI) has allowed insurers to invest in debt securities of infrastructure investment trusts (InvITs) and real estate investment trusts (REITs). Earlier, insurance companies were allowed to invest only in...

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Physicians heal thyself is passe. Insurers reimburse themselves is the new phrase.   At a time when the general public health insurance policyholders are denied genuine hospital expenses incurred by them, the employees of government owned general insurance companies have been allowed...

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India's insurance sector regulator has directed general and health insurance companies to take action against hospitals if they don't provide cashless facility for COVID-19 claims.   In a circular, the Insurance Regulatory and Development Authority of India (IRDAI) told the insurers...

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Moneylife Digital Team 21 April 2021
Max Life Insurance has launched a new term life insurance called Max Life Smart Secure Plus Plan. The policy will offer new and enhanced benefits like premium break option, special exit value and a choice of claims payout for nominees.    Term life insurance is a pure risk cover...

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Bajaj Allianz General Insurance Company Ltd was fined Rs.10 lakh by the insurance regulator for violation of the Insurance Act and its Motor Insurance Service Provider (MISP) guidelines.   The Insurance Regulatory and Development Authority of India (IRDAI) in its order has said Bajaj...

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Moneylife Digital Team 09 April 2021
Term life insurance is a pure-risk insurance cover that pays death benefit in case the life assured dies during the policy term. Premium on term life insurance is the cheapest compared to other forms of life insurance, mainly due to the absence of any savings or investment...

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Sponsored Post 08 April 2021
One of the biggest lessons that the COVID-19 pandemic has taught us is that life is very unpredictable and it is imperative to stay prepared for the unexpected. An ill-timed disease can take a major toll on a family and its financial condition. This is where life term insurance acts as a...

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Sponsored Post 26 March 2021
The whole world has gone in to major turbulence due to COVID-19. Things like working from home have gone mainstream. The situation has also led to a decrease in driving as observed by insurers and consumers alike. This has made drivers seek solutions like mileage based auto insurance coverage...

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Moneylife Digital Team 24 March 2021
The Insurance Regulatory and Development Authority of India (IRDAI) has allowed life insurance companies to continue issuing policy documents in electronic format and permitted them to dispense with the requirement of getting customers’ wet signature on the proposal forms till 30th...

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Moneylife Digital Team 23 March 2021
Insurance products come in different dimensions, but there are times when two completely different products offer a similar cover. For example, term life insurance pays a death benefit, if the life assured dies during the policy term. Accident death cover pays the sum assured, if the insured...

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Shrirang V Samant 19 March 2021
Ever since the Indian finance minister (FM) announced the proposal to raise the foreign direct investment (FDI) limit in insurance from 49% to 74%, several opinions have been aired on the advisability of this move. Now that the union cabinet has given its nod to the proposal, it is an...

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To mitigate the hardships faced due to corona pandemic, insurance major LIC has allowed its policyholders to deposit their maturity claim documents at their nearest LIC office anywhere in the country.   "LIC has allowed its 113 divisional offices, 2,048 branches, 1,526 satellite...

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The Government has notified amendments to the Insurance Ombudsman Rules, 2017, with a view to improve the working of the Insurance Ombudsman mechanism to facilitate resolution of complaints regarding deficiencies in insurance services in a timely, cost-effective and impartial...

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Moneylife Digital Team 01 March 2021
The Insurance Regulatory and Development Authority of India (IRDAI) has admitted, shockingly enough, that in over 10 years, it has not taken any action against a single insurance company for non-compliance with awards or orders issued by the insurance ombudsman. This admission was made in...

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Sponsored Post 25 February 2021
A few years ago, health insurance policy was not that popular among people but after the global pandemic that has made the entire world standstill, people have got to understand the importance of health insurance cover. While we are witnessing a rise in the popularity of health insurance...

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Shrirang Samant 23 February 2021
Ever since the finance minister (FM) announced in her budget speech that the government will privatise a couple of banks and a general insurance company in the coming financial year, speculation has been rife about the possible candidates for disinvestment. There has been another major...

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Sponsored Post 18 February 2021
If there is one thing that the Coronavirus pandemic has taught us, it is that life is so unpredictable that it changes in the blink of an eye. Who would have thought that a virus originating in Wuhan, China, would rage all over the world and destroy economies and claim millions of lives...

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