Covers 43 Critical Illnesses, both initial and advanced stagesModular product allowing selection of waiting period, survival period and coverage from either or all 5 sections: Cancer Care, Cardiovascular Care, Kidney Care, Neuro Care, Transplants Care & Sensory Organ CareAdditional benefits like Dialysis care, Physiotherapy care, etc. in-built in the policy...
Term insurance will be expensive from tomorrow
The premium for term insurance plans is expected to increase by 10 to 15 percent soon. While some insurers have increased the premium in recent months, some others are expected to do so by April 2021. Indranil Chatterjee, Co-Founder and Principal Officer, RenewBuy, said that most insurance companies post term...
LIC’s IPO will give Rs 1 lakh crore to central government
New Delhi: In the general budget presented for the financial year 2021-22, Finance Minister Nirmala Sitharaman set a target of raising Rs 1.75 lakh crore through disinvestment. Chief Economic Advisor KV Subramanian said the disinvestment target of Rs 1.75 lakh crore for FY21-22 is achievable. Subramaniam said that the central...
LIC will increase its authorized capital for listing
In order to make LIC's listing easier in the next financial year, the government is set to increase the company's authorized capital to Rs 25,000 crore. Currently, the paid-up capital of the company is Rs 100 crore with 29 crore policies. Explain that the company started the business in 1956...
Expectation of investment of three thousand crores in public sector general insurance companies
New Delhi: Government may consider to privatize Oriental Insurance or United India Insurance Company. People with knowledge about the matter said that the government can consider their privatization as their financial health has improved after the capital investment. To further strengthen their financial health, the government is expected to invest...
Massive drop in LIC’s individual biz caps industry growth in Jan at 8 pc
Mumbai: Industry leader LIC saw its individual APE growth plummet to 45 per cent, due to a massively high base of 99 per cent growth in January 2020. A massive 45 per cent plunge in Life Insurance Corporation's (LIC) individual annual premium equivalent (APE) in January capped the industry growth...
New premium of life insurance firms rises 3.7 pc to Rs 21,390 cr in Jan
New Delhi: The new business premium of life insurance companies grew 3.72 per cent at Rs 21,389.70 crore in January 2021, data from Irdai showed on Monday. All the 24 life insurance companies had collected s total first-year or new business premium of Rs 20,623.01 crore in year-ago same period,...
Union Budget: FDI limit in the life insurance business hiked
New Delhi: The hiking of the FDI limit in the life insurance business from 49 per cent to 74 per cent is a bold move. Mr. Niraj Kumar, Chief Investment Officer, Future Generali India Life Insurance Company says: "The imperativeness of the Life Insurance sector in the economy has gained...
Canara HSBC Oriental Bank of Commerce Life Insurance rolls out “Guaranteed Income4Life”
Kolkata: Canara HSBC Oriental Bank of Commerce Life Insurance has strengthened its Guaranteed Savings portfolio with a new “Guaranteed Income4Life” plan acknowledging the needs of the customers in the given hour. It is a Non-Linked, Non-Par Individual Life Insurance Savings cum Protection Plan which not only offers an individual the...
IRDAI Panel For Separate Payments Of Vehicle, Insurance Premium
New Delhi: The Insurance Regulatory and Development Authority of India (Irdai) had issued MISP guidelines in 2017 with the intention of streamlining the process and bringing the practices of vehicle insurance, being sold by automotive dealers under the provisions of the Insurance Act, 1938. Buyer of a new vehicle may...