Insurance company cannot deny claim even if the policy holder dies within 90 days from taking a insurance policy
An insurance company can’t deny paying the assured amount even if the policy holder dies within 90 days from taking Read more
HDFC Standard Life Insurance
Investment, not protection motive behind life insurance
Life insurance has a sole motive of securing the financial goals of a family in case the bread earner fails to do so due to some unfortunate event. The life cover provided by a life insurance policy comes in handy when the policyholder is not around and the family needs to continue their lives. Read more
Life insurance persistency good in first year, not in the long term
Life insurance companies are witnessing healthy growth in persistency in short period of one-year however, that is not the case in long term. As per data on persistency for the financial year 2011-12, insurers registered an average of 64.4 per cent policies renewed in second year, it was 64.3 per cent in last year. However, the average persistency ratio for fifth year was 46.5 per cent, which was 48 per cent in previous year. Read more
IRDA collects Rs 2.5 cr penalty in June-Sept period
Insurance Regulatory and Development Authority (Irda) has collected a whopping Rs 2.56 crore as penalty in the June to September period. The insurance regulator had imposed penalties ranging from Rs 5 lakh to Rs 1.47 crore on insurance companies. On one instance, a penalty of Rs 15 lakh was imposed on Indusind Bank, which is the corporate agent of Cholamandalam MS General Insurance. Read more