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
In a recent pivotal meeting held at the Life Insurance Corporation’s (LIC) central office in Mumbai, high-ranking officials met with representatives from the LIC Agents’ Federation of India (LIAFI), established in 1964. The discussions revolved around several demands put forth by LIC agents that are critical for maintaining their income stability and addressing changes in … Read more
The Life Insurance Agents Federation of India (LIAFI) recently filed a significant Right to Information (RTI) request directed at the Insurance Regulatory and Development Authority of India (IRDAI). This RTI request has ignited discussions in the insurance sector as it focuses on the critical topic of clawback — a provision that can significantly impact insurance … Read more
In today’s workplace, corporate employees often rely on employer-provided group health insurance policies, believing that these will suffice for all health-related expenses. However, this assumption can lead to significant gaps in coverage, leaving individuals exposed to high medical costs. Let’s explore why employer-provided insurance plans may fall short and why it’s essential to consider a … Read more
The Insurance Regulatory and Development Authority of India (IRDAI) recently expressed serious concerns over high commission payouts in the motor own damage insurance sector, primarily involving motor insurance service providers (MISPs). This concern was raised during a meeting with executives from India’s non-life insurance companies, spotlighting the rising cost of motor insurance for consumers due … Read more
The Insurance Regulatory and Development Authority of India (IRDAI) has introduced a new mandate for policyholders in India to obtain a unique identification number known as the ABHA ID. This move is intended to streamline insurance claim processes, reduce claim rejections, and provide policyholders with a unified repository for all health-related information. ABHA, which stands … Read more
The Life Insurance Corporation of India (LIC) has been a trusted name in life insurance for decades, with policies that cater to a wide range of financial goals. As of 2024, LIC continues to offer some of the most popular and reliable insurance plans to meet the varied needs of its customers. Below, we explore … Read more
When it comes to choosing the right health insurance plan, understanding the key features, benefits, and coverage options is essential. In 2024, two standout plans have emerged in the market: ICICI Lombard Elevate Health Insurance Plan and Star Health Insurance Superstar Plan. Both offer extensive coverage, innovative add-ons, and flexible options tailored to meet diverse … Read more
The insurance industry in India, particularly for life and health insurance, has been in the spotlight for several months now, with policyholders, insurance advisors, and political figures advocating for significant reforms in the Goods and Services Tax (GST) structure. The crux of the matter is a potential reduction in the GST applied to life and … Read more