Commercial banks and insurance companies, even as they aim to...
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LIC stock gives highest return among top 10 firms by market cap in last one year
LIC, nation’s biggest insurer has given the highest returns of 74...
Household savings are choosing mutual funds, insurance and pension funds over banks to invest savings: RBI Governor
``While bank deposits continue to remain dominant as a percentage...
Changing global retirement planning
Global life expectancy went up by five years between 2010 and 2015, the fastest increase since the 1960s. A post-pandemic boost to healthcare investment may make us all live longer, on average.
Asians naturally don’t want to die working, and many societies have some form of non-family safety net. Japan has a public long-term care insurance. In South Korea, Taiwan, Singapore, Hong Kong, and Malaysia, retirees expect the government to play a role in ensuring income security.
Indians have an even keener wish. Given the country’s youthful demographics, constrained state finances and underdeveloped pension markets, even limited financial assistance for the elderly may have to be “purchased” by them from the next generation.
Italy tax police raid Generali, state railway offices in insurance probe
A source close to the probe said Wednesday’s raid was part of an investigation Rome prosecutors are carrying out into whether Generali was awarded contracts in return for generous insurance policies granted to a series of top FS managers.
Contract of insurance is of utmost good faith, says Supreme Court
The top court said this while setting aside the March this year verdict of the National Consumer Disputes Redressal Commission (NCDRC) which had dismissed the plea of an insurance firm against the order asking it to pay full death claim along with interest to the mother of the deceased.
Kotak Life forays into health insurance;launches Kotak Health Shield
G. Murlidhar, MD & CEO, Kotak Mahindra Life Insurance Company Ltd. said, “Rising health treatment costs continues to be a major financial strain to crores of Indians across geographies, and our new Kotak Health Shield is yet another insurance policy from Kotak Life that has been designed to address the much required insurance cover to Indian consumers. Kotak Health Shield is an affordable health insurance policy that covers major critical illnesses.”
FTLife and Munich Re announce collaboration on digital underwriting
The new collaboration will allow FTLife to use Munich Re’s SaaS digital automated underwriting solution – ALLFINANZ SPARK (“SPARK”) – to offer a much-enhanced digital experience for customers, including shorter turnaround times for issuing policies. It is a significant advance in the digitalisation of FTLife’s underwriting process.
Pope says same-sex couples should be covered by civil union laws
“Homosexual people have a right to be in a family. They are children of God and have a right to a family. Nobody should be thrown out or be made miserable over it,” he said.
“What we have to create is a civil union law. That way they are legally covered. I stood up for that,” he said.
India Post Payments to sell AIC’s Crop Insurance products
This strategic tie-up will be a win-win for both AIC and IPPB and will ultimately be beneficial mainly to the small and marginal farmers of the country at large.
IBAI votes out its president Sanjay Kedia, elects five new faces as directors
IBAI’s 15-member board of directors, have chosen Sumit Bohra as the new the new president of the association.
After voting out some existing directors who were seeking re-election, the brokers had elected five new faces as directors for three years,.
They are Sundaram Venkatavaradan of Abhivridhi Insurance Brokers. Rashmi Ravi Iyer of Global Insurance Brokers, Sandeep Dadia of Aditya Birla Insurance Brokers, Mohan Sriraman of Paavana Insurance Brokers, Surender Kumar Tonk of Advance Life Insurance Brokers
Over the past three decades, India has gained 10 years in life expectancy: Lancet study
“In India maternal mortality used to be very high, but now it is coming down. Cardiovascular diseases used to be number five, and now it is number one, and cancer rates are increasing,” Mokdad, Professor of Global Health at the Institute for Health Metrics and Evaluation (IHME), said.
Life insures have to mandatorily launch standard term life product from Jan 21:IRDAI
The minimum sum assured of the product should be at Rs 5 lakh while maximum sum assured can be Rs 25 lakh. Insurers have the option of offering sum assured beyond Rs 25 lakh under Saral Jeevan Bima with all other terms and conditions remaining the same, said the IRDA.
The following words shall be prominently displayed in BOLD, on the welcome letter of policy document as well as on the first page of Sales Literature.
“This policy will cover death due to accident only during the waiting period of 45 days from the date of commencement of risk.In case of death of the life assured other than due to accident during the waiting period, an amount equal to 100% of all premiums received excluding taxes, if any, will be paid and the sum assured will not be paid;;