NCDRC Upholds Claim Rejection Over Non-Disclosure
Case Title: Sushila Singh vs. Birla Sun Life Insurance Co. Ltd. and Anr. Summary The National Consumer Disputes Redressal Commission (NCDRC) dismissed an appeal against Birla Sun Life Insurance Co.…
Government weighs 50-yr bonds to deepen insurance market
The Indian government may consider issuing 50-year on-tap bonds in the next fiscal (FY26), in a bid to encourage insurance companies to subscribe and better manage their business, two people…
SC: Claim Can Be Denied for Hiding Existing Policies
You already have a life insurance policy (A). You buy another life insurance plan (B) without disclosing to them that you are already covered under plan A. In one of…
Supreme Court Rules on Life Insurance Claim Repudiation Due to Non-Disclosure of Existing Policies
Case Name: MAHAVEER SHARMA v. EXIDE LIFE INSURANCE COMPANY LIMITED & ANR., Arising out of SLP (Civil) No. 2136 OF 2021 Summary of the Case:The Supreme Court ruled that non-disclosure…
ICICI Prudential Life ‘Wish’ for women
It is rare for life insurers to offer products similar to what their general insurance counterparts do. ICICI Prudential Life has come out with 'Wish,' a term insurance like product…
Aditya Birla Sun Life Insurance Launches Income Suraksha Plan
Aditya Birla Sun Life Insurance (ABSLI) has launched its latest term insurance plan, the Income Suraksha Plan, to provide financial security for customers' families in the case of an unfortunate…
HDFC Life launches new life plan
HDFC Life launched HDFC Life Click 2 Achieve Par Advantage, a participating life insurance product designed to support financial goals at different life stages. The plan offers early liquidity, flexibility,…
Term Insurance Calculator: A Step-by-Step Guide to Finding Your Ideal Coverage
Selecting an appropriate term life insurance along with the correct policy coverage amount becomes a complicated process. A term insurance calculator functions as an efficient solution to guide users through…
One-time Mandate for blocking the amount towards premium through Unified Payments Interface (UPI mandate) for issuance of life and health insurance policies- Bima-ASBA
1. Reference is drawn to Master Circular on Protection of Policyholders’ Interests numbering IRDAI / PP&GR / CIR / MISC / 117 / 9 / 2024 dated 5th September 2024…
The Future of Life Insurance: Adapting to Changing Consumer Preferences
Life insurance is evolving from a traditional financial product into a flexible, digital-first, and consumer-centric solution. Increased financial awareness, technological advancements, and regulatory reforms are driving this transformation. Consumers today…