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Bharti AXA launches new unit linked individual insurance plan

Bharti AXA launches new unit linked individual insurance plan

Sep 21, 2020, 02:26 PM IST

"The new and value-loaded ULIP helps customers plan and achieve their financial milestones as per the changing life-stages along with financial security for their families," Bharti AXA Life Insurance said in a press release.

Why your premium on life insurance plans varies across insurers

Why your premium on life insurance plans varies across insurers

Sep 17, 2020, 04:59 PM IST

The premium that a policyholder pays when buying a life insurance policy depends on many factors. This premium also varies across insurers. Here's how insurers calculate and arrive at this amount and why it is different from insurer to insurer.

You may soon be able to buy index-linked life insurance policies

You may soon be able to buy index-linked life insurance policies

Sep 1, 2020, 02:28 PM IST

The Authority is in receipt of requests from life insurers to allow them to offer index-linked products. Current IRDAI, product regulations do not specifically permit insurers to sell index-linked products.

What is a variable life insurance policy?

What is a variable life insurance policy?

Aug 24, 2020, 06:30 AM IST

A variable life insurance plan combines investment and insurance like Ulips. However, the returns are declared by the insurance companies on an yearly basis and are not linked to the stock market.

Should you buy term life insurance with staggered payout option in case of death?

Should you buy term life insurance with staggered payout option in case of death?

Jul 6, 2020, 06:30 AM IST

Term insurance plans offer the staggered payout option instead of lump-sum payout in the event of the death of the insured person. However, such payout options offer low returns. When should you opt for such an option?

Want to know how much life insurance cover you should have? Here are two ways to calculate

Want to know how much life insurance cover you should have? Here are two ways to calculate

Jun 22, 2020, 06:30 AM IST

The first step of a financial plan is to make sure that your insurance needs are covered.

Buying term life insurance policy during coronavirus pandemic becoming difficult

Buying term life insurance policy during coronavirus pandemic becoming difficult

Jun 12, 2020, 03:12 PM IST

Buying a term insurance plan is getting difficult due to the COVID-19 situation in India. The reason behind the same is the growing Covid-19 cases which have forced insurance companies to add a few questions in the term insurance proposal form.

Aegon Life launches 1-year term insurance with COVID-19 cover. How to buy using the Flipkart app

Aegon Life launches 1-year term insurance with COVID-19 cover. How to buy using the Flipkart app

May 28, 2020, 12:03 PM IST

This launch is aimed to provide Flipkart customers with a comprehensive insurance cover against COVID, that can be availed on the Flipkart app along with the base life insurance plan. Customers up to the age of 50 years can buy this policy.

Term insurance policy premium may rise again in coming 3 to 6 months

Term insurance policy premium may rise again in coming 3 to 6 months

May 23, 2020, 10:15 AM IST

Term insurance premiums are calculated on the basis of mortality rate and expected claims outgo, and accordingly, re-insurers fix the re-insurance premium that they charge insurance companies.

Insurers to soon offer e-KYC to make buying life insurance policies easier in lockdown

Insurers to soon offer e-KYC to make buying life insurance policies easier in lockdown

Apr 25, 2020, 03:21 PM IST

The latest circular by the regulator will help enable the policy purchase and KYC fulfillment process in a distance mode where customers can do it from the comfort of their houses just with the click of a button.

Ulip holders may get option to stagger maturity payments to cushion current stock market impact

Ulip holders may get option to stagger maturity payments to cushion current stock market impact

Apr 8, 2020, 02:16 PM IST

Where unit-linked policies mature and fund value is to be paid in lumpsum, Life Insurers may offer staggered settlement option to policyholders. This onetime option is regardless of whether such option exists or not in the specific product.

Force majeure clause won't apply to coronavirus death claims in life insurance policies

Force majeure clause won't apply to coronavirus death claims in life insurance policies

Apr 6, 2020, 12:03 PM IST

The Council also confirmed that the clause of ‘Force Majeure’ will not apply in case of COVID-19 death claims. This step was taken to reassure customers who had reached out to individual life insurance companies seeking clarity on this clause.

Cost of term insurance likely to increase soon

Cost of term insurance likely to increase soon

Apr 2, 2020, 10:08 AM IST

An insurer generally works on a concept where they create a fund through premiums (paid by all their policyholders) and pay the insurance claims of those policy holders who die each year, from this fund.

Partial withdrawal from life insurance policy reduces sum assured

Partial withdrawal from life insurance policy reduces sum assured

Mar 21, 2020, 09:42 AM IST

You have to be at least 18 years of age to make a partial withdrawal. You are allowed to partially withdraw money only after the completion of 5 policy years and also only if all due premiums have been paid on time and the policy is in force.

Are deaths due to coronavirus covered by life insurance policies?

Are deaths due to coronavirus covered by life insurance policies?

Mar 18, 2020, 12:26 PM IST

It is reasonable to assume that a global health crisis like the coronavirus would have some impact on your life insurance policy acceptance and premiums, if you are currently in the application process stage.

Life insurers to insist on medical tests to keep term insurance rates under check

Life insurers to insist on medical tests to keep term insurance rates under check

Mar 5, 2020, 10:25 AM IST

Term insurance policies — contracts which compensate only in the event of death without any survival benefits — have crashed more than 50% since liberalisation. Companies have offered term insurance of up to Rs 1 crore for rates as low as Rs 6,000.

How is life insurance premium calculated?

How is life insurance premium calculated?

Feb 25, 2020, 09:51 AM IST

A life insurance policy is a contract between an insurer and a policyholder. To make the contract valid, a premium amount is paid by the policyholder at the time of buying the policy and later at agreed intervals of time.

Check the IRDAI death claim settlement ratio of life insurers for the year 2018-19

Check the IRDAI death claim settlement ratio of life insurers for the year 2018-19

Feb 22, 2020, 10:53 AM IST

The claim settlement ratio reveals the percentage of claims the insurer has paid out during a financial year. In simple words, CSR is defined as percentage of insurance claims settled by an insurer compared to the total number of claims received.

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