LIC eases process to claim policy maturity benefits
Due to the restrictions on movement due to COVID-19, LIC has allowed its policyholders to deposit their maturity claim documents at their nearest LIC office anywhere in the country. LIC…
Claimants prefer cashless claim settlement: Survey
Most policyholders still have to file reimbursement request as cashless continues to be a small proportion of the overall claims. Around 68% of the claims are reimbursement and only 32%…
IRDAI calls for standard travel covers
In a bid to simplify travel insurance and expand its reach in the country, IRDAI issued guidelines or insurers to come up with standard travel policies to be offered from…
IDBI Federal Life Insurance launches new plan
IDBI Federal Life Insurance launched a non-linked, participating, savings plan called IDBI Federal Life Insurance Young Star Plus Plan. The plan helps policyholders financially secure and support their children's future.…
LIC launches digital initiatives, online switching of funds under ULIP policies
Moving to digital initiatives for improved customer servicing in the ongoing pandemic, LIC said it has introduced an online facility for switching of funds under unit-linked policies. "Online facility for…
No Income Tax on life insurance policies of 10 or more years, ICAI recommends Central govt
In its Pre-Budget Memoranda - 2021, the Institute of Chartered Accountants of India (ICAI) has recommended the Union government to make all life insurance policies with a policy term of…
ICICI Lombard gets in-principle approval from IRDAI approval to acquire Bharti AXA General Insurance
IRDAI has approved in-principle acquisition of General Insurance business of Bharti AXA General Insurance Company Limited (Bharti AXA) by ICICI Lombard General Insurance Company Limited, the company said in…
Policyholders can renew covid-centric policy plans till Mar 2021
IRDAI asked insurers to offer policyholders the option to renew, migrate or port covid-19-specific health insurance schemes, Corona Rakshak and Corona Kavach. In June, IRDAI had allowed insurance companies to…
IRDAI tells health insurers to provide Covid-19 cover in policies
With the aim of making ease for policyholders so that they would be able to avail medical covers without any hardships with immediate effect, the IRDAI has directed all health…
IRDAI modifies the guidelines for Arogya Sanjeevani Policy
In a bid to pass on the benefits to the policyholders, the IRDAI has modified the guidelines for Arogya Sanjeevani Policy, after which the policy is set to be cheaper…