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Source: Live Mint These modifications follow the Insurance Regulatory and Development Authority of India’s (Irdai) master circular on life insurance products (Insurance Products Regulations, 2024). Key changes include reducing the entry age to buy an endowment plan to 50 years from 55. The minimum basic sum assured has been increased to ₹2 lakh from ₹1…
Source: Live Mint A key takeaway from the September quarter (Q2FY25) earnings of HDFC Life Insurance Company Ltd is that pressure on value of new business (VNB) margin continues. VNB margin came in at 24.4% in Q2FY25, down sequentially and year-on-year. An analysis of the annualised premium equivalent (APE) for Q2FY25 shows the adverse new…
Source: Business Standard 2 min read Last Updated : Oct 11 2024 | 5:18 PM IST Life insurance companies have reported 14 per cent year-on-year (Y-o-Y) growth in new business premiums (NBP) in September, aided by healthy growth in premiums of state-owned Life Insurance Corporation of India (LIC) and its private counterparts. According…
Source: Live Mint I purchased a life insurance policy in 2023, but I plan to surrender it because I have lost my job. I heard that the surrender value will also be available after one year. What should I do? -Name withheld on request As per the Insurance Regulatory and Development Authority of India’s (IRDAI)…
Source: Live Mint I purchased a life insurance policy in 2023, but I plan to surrender it because I have lost my job. I heard that the surrender value will also be available after one year. What should I do? -Name withheld on request As per the Insurance Regulatory and Development Authority of India’s (IRDAI)…
Source: Live Mint Growing up in a middle-class family in Bengaluru, Swaminathan was always acutely aware of the importance of financial independence. His father, a banker, instilled in him the value of saving and prudent financial management from an early age. “I was determined to build a secure financial future for myself,” he says, reflecting…
Source: Live Mint Right outside Fernandes’s home is a poster of a woman who passed away recently. It grabs his attention each time he opens his gate. His eyes are then drawn to one of his favourite possessions, his bicycle, long unused, which reminds him of happier days. Now, he can barely pick up his…
Source: Business Standard 3 min read Last Updated : Oct 01 2024 | 2:03 PM IST From 1 October 2024, a policyholder will get a higher refund if he exits his life insurance policy during the initial years.This is expected to provide greater flexibility and liquidity for life insurance customers who want to switch policies….
Source: Live Mint Life insurance policies that also promise guaranteed income entice people with claims such as: “Pay ₹1 lakh for 10 years and get ₹22 lakh lump sum after 20 years”, or “pay ₹1 lakh for 12 years and start getting ₹2 lakh from the 14th year onwards for the following 12 years”. A…
Source: Live Mint Insurance acts like a safety net, helping protect you and your family from unexpected situations that can cause financial stress. Whether it’s a car accident, a health emergency, damage to your home, or losing a primary earner, having the right insurance can ease your financial burden, allowing you to focus on getting…
