“Under this Special Revival Campaign, policies of specific eligible plans can be revived within five years from the date of the first unpaid premium subject to terms and conditions,”
IRDAI data showed that the country's largest life insurer LIC contributed Rs 14,345.70 crore or 58 per cent to the total premium generated during the month.
Afghan Taliban chief Mansour bought life insurance in Pakistan before US drone strike killed him: Report
The details about the insurance policy were revealed during the hearing of a terror funding case against him and his absconding accomplices.
Over the past week, insurance players and fund managers launched multiple schemes that are focused on generating wealth and securing financial needs for the long haul.
Indian insurance market finally has an individual insurance policy that is specifically tailored to cover both Covid-19 related deaths and Covid-19 treatment costs.
Due to the prevailing pandemic situation, hearings were being conducted through video conferencing by M Vasantha Krishna, who is acting as Insurance Ombudsman of the Chennai centre
The Centre may have advised state governments to extend the validity of all vehicle-related documents up to December 31, 2020.
Disruption may lead to new products like OPD insurance, claims platforms, and gamification of premium pricing
The lender said its total stake in Max Life will remain within the limits stipulated under the applicable laws and regulations.
Net premium income increased 22 per cent to Rs 12,857.95 crore during the quarter under review from Rs 10,111.51 crore a year ago.
After having reported consecutive months of business contraction since the outbreak of the pandemic in March, India’s life insurers seem to have finally arrested the dive in September.
It has already booked more than Rs 15,000 crore as profits in the capital market this FY so far, as per its press release on Friday.
While the customer chooses to pay premium once, he/she can opt for higher life insurance coverage of 10 times life insurance cover, it was stated.
Insurers claimed that even when business was bouncing back to normal from August, growth in renewals is only marginal.
For instance, the government sold equity stakes in BHEL, Engineers India, MMTC, New India Assurance, General Insurance Corporation of India and Hindustan Aeronautics.