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Government’s Decision to Increase 100% FDI in Insurance Sector – In recent years, the Indian government has made significant strides in opening the insurance sector to foreign direct investment (FDI) with an ambitious vision of achieving “Insurance for All” by 2047. The government is currently reviewing a proposal to increase the FDI limit in the … Read more
In today’s healthcare landscape, choosing the right health insurance plan can be a daunting task. With medical costs rising, a reliable insurance policy provides not only financial security but peace of mind. Among the array of options available, two prominent choices are ICICI Lombard Elevate and ManipalCigna Sarvah health plans. Both are designed to offer … Read more
LIC Agents News – The Life Insurance Corporation of India (LIC) recently held a press conference to announce significant updates that will impact its vast network of agents, numbering around 14 lakh across India, and its policyholders. Led by LIC CEO Siddharth Mohanty, the LIC management provided clarity on two key areas: the non-implementation of … Read more
The Insurance Regulatory and Development Authority of India (IRDAI) has announced its 2024 recruitment for a Whole-Time Member (Life) position based in Hyderabad. This is a unique opportunity for individuals with an extensive background in life insurance or related fields, offering a prominent role within India’s insurance regulatory framework. Here’s a comprehensive look at the … Read more
The Married Women’s Property (MWP) Act holds particular significance for married men in India when purchasing life insurance. This act is instrumental in protecting the financial interests of a man’s wife and children, ensuring that life insurance benefits intended for family support remain secure. By invoking the MWP Act, a married man can structure his … Read more
The IRDAI Master Circular 2024 implemented across the insurance industry on October 1, 2024, introduced significant changes in policy terms, particularly focusing on the concept of the special surrender value (SSV) for endowment policies. This article delves into the key points of this circular, examining the implications of special surrender value, guaranteed surrender value, and … Read more
The Life Insurance Agents Federation of India (LIAFI) recently expressed growing concerns to the Life Insurance Corporation (LIC) of India’s Chairman, Siddhartha Mohanty, regarding policy changes that LIAFI believes could negatively impact agents and policyholders alike. The issues raised in their recent letter highlight LIAFI dedication to protecting the interests of agents and maintaining the … Read more
When Rohit received a staggering medical bill of ₹32 lakhs for his wife’s treatment, he relied on his health insurance policy to cover the cost. However, despite the valid claim, his health insurance provider rejected it, leaving him burdened with the entire amount. Multiple attempts to resolve the issue with the insurer were futile, pushing … Read more
The Life Insurance Corporation of India (LIC), India’s largest and most trusted insurance company, is now facing a storm of discontent from its agents. This friction stems from a series of policy changes introduced by LIC, which have stirred the emotions of its agents, represented by the LIC Agents Federation of India (LIAFI). The LIC … Read more
8 Announcements from LIC Management – Life Insurance Corporation (LIC) agents recently received updates from top management officials following a high-level meeting at LIC central office in Mumbai. This meeting was attended by key figures including Managing Director Jagannath, Sudhakar, and Executive Director of Marketing Anand Chatterjee, among others. Although these updates have been presented … Read more