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Surrendering Policies

How and where to check death claim settlement ratio of life insurers

How and where to check death claim settlement ratio of life insurers

Nov 21, 2019, 10:28 AM IST

Life insurers are required to show the details of individual and group death claims ratio on their websites separately. If they are showing a death claim ratio by clubbing the data for individual and group policies, they are violating IRDAI rules.

What is term insurance with a monthly payout?

What is term insurance with a monthly payout?

Nov 18, 2019, 06:30 AM IST

Term insurance with a monthly payout is particularly useful for families with limited financial exposure where there is a possibility of the lumpsum amount being mismanaged or squandered away.

Why you should surrender endowment life insurance policies

Why you should surrender endowment life insurance policies

Nov 18, 2019, 06:30 AM IST

Surrendering a policy would mean that a portion of the premium already paid will be refunded to you. If the policy has been in force for some time, you would get a good surrender value which can be immediately invested in products of your choice.

5 important points to remember while reading policy benefit illustration

5 important points to remember while reading policy benefit illustration

Nov 6, 2019, 10:22 AM IST

The rates of return mentioned in the benefit illustration are not the upper or lower limits of what you may get in reality. You may get even higher gross yield of more than 8 percent per annum or lower than 4 percent per annum on your investment.

Why understanding benefit illustration is important when buying life insurance?

Why understanding benefit illustration is important when buying life insurance?

Nov 1, 2019, 10:32 AM IST

A life insurance benefit illustration (BI) is a set of projections, prepared by the actuaries of the insurance company. The BI basically shows how your (policyholders') insurance policy fund/money invested will perform over a period of time.

How to understand and read benefit illustration before buying a life insurance policy

How to understand and read benefit illustration before buying a life insurance policy

Nov 1, 2019, 10:28 AM IST

In a benefit illustration, gross yield is calculated as a percentage (8 percent and 4 percent) based on the portion of premium invested on a year-on-year basis and the net yield is calculated as a certain percentage on the maturity amount.

IRDAI issues circular on advertising rules for insurance companies

IRDAI issues circular on advertising rules for insurance companies

Oct 17, 2019, 05:30 PM IST

Insurance buyers need to be aware that insurance companies are required to follow certain norms in advertising their policies. The aim of these restrictions is to ensure that insurance buyers should not get hoodwinked by aggressive advertising.

Should you opt for ULIP with minimum sum assured?

Should you opt for ULIP with minimum sum assured?

Oct 17, 2019, 10:07 AM IST

The sum assured is a minimum guaranteed amount that your Ulips gives your nominee in case of your death. The payout in case of death during the policy term is tax-exempt even in cases where the sum assured is less than 10 times of the premium paid.

IRDAI issues new norms to curb life insurance misselling, makes illustrations mandatory

IRDAI issues new norms to curb life insurance misselling, makes illustrations mandatory

Sep 27, 2019, 04:03 PM IST

The IRDAI has asked insurers to start providing benefit illustrations to policy holders

All you need to know about assigning life insurance policy

All you need to know about assigning life insurance policy

Sep 23, 2019, 06:30 AM IST

The insured needs to either endorse the policy document or make a deed of assignment and register the same with the insurer.

Personal accident insurance vs life insurance: What should a young earner opt for?

Personal accident insurance vs life insurance: What should a young earner opt for?

Aug 19, 2019, 06:30 AM IST

Insurance is an important aspect of one's financial stability and security. However, the type of insurance one requires depends on his specific present needs.

8 major death cases which are not covered in term life insurance

8 major death cases which are not covered in term life insurance

Aug 14, 2019, 12:40 PM IST

Death due to any condition that existed while availing the term insurance policy will not be settled by the insurer.

Suicide is covered under life insurance: All you need to know

Suicide is covered under life insurance: All you need to know

Aug 13, 2019, 12:15 PM IST

Suicide is usually covered after 12 months from the date of the purchase of the policy.

How well does your seller understand your life insurance needs?

How well does your seller understand your life insurance needs?

Jul 30, 2019, 12:36 PM IST

Here is a checklist for you to evaluate whether your seller understands your needs well enough to make a difference to your larger goal of financial protection.

Jeevan Saral: Why you must evaluate endowment plans very carefully

Jeevan Saral: Why you must evaluate endowment plans very carefully

Jul 29, 2019, 06:30 AM IST

A PIL was recently filed against LIC by investors in the Jeevan Saral plan. Here’s a look at how such endowment policies work.

7 ways how life insurance policies are set to change

7 ways how life insurance policies are set to change

Jul 29, 2019, 06:30 AM IST

The regulator has announced new rules for life insurance policies. Find out how this will affect buyers.

IRDAI may relax rules for pension plans & ulips, make surrenders easy

IRDAI may relax rules for pension plans & ulips, make surrenders easy

Jul 16, 2019, 08:34 AM IST

Now, minimum sum assured on death can be seven times the annualised premium.

‘5% TDS on life policy gains fair’

‘5% TDS on life policy gains fair’

Jul 11, 2019, 10:55 AM IST

A provision in the finance bill has revised the TDS on policies that do not qualify for exemption from income tax to 5% of the gain rather than 1% on the total maturity benefit.

New Ulips with return of mortality charges: Should you invest?

New Ulips with return of mortality charges: Should you invest?

Jul 8, 2019, 06:30 AM IST

Are the online Ulips that return mortality charges paid over the tenure worth your while?

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