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IRDAI New Policy Cap – The Insurance Regulatory and Development Authority of India (IRDAI) has introduced a significant regulatory change that is expected to reshape the dynamics of the insurance industry. The decision to cap the sale of insurance policies through banks at 50% has sparked a lot of discussion and brought about mixed reactions … Read more
The insurance sector in India is poised for transformative changes with the introduction of digital platforms like Bima Sugam and a renewed focus on ethical practices. Recently, IRDAI (Insurance Regulatory and Development Authority of India) chief, Mr. Debasish Panda, raised critical concerns about the mis-selling and force-selling of insurance policies by banks. These practices, which … Read more
The LIC Jeevan Tarun Plan 734 is a child insurance policy designed to provide financial security for your child’s education, marriage, or other significant life events. This versatile plan caters to both boys and girls and offers multiple options for customization based on your specific requirements. Below is an in-depth exploration of this unique insurance … Read more
LIC New Money Back Plan 720 is a unique life insurance policy that combines the advantages of protection and savings. As a money-back plan, it ensures periodic payouts during the policy term, offering liquidity alongside long-term financial security. Here’s an in-depth exploration of the features, benefits, and terms of this newly launched plan. Also see: … Read more
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