Govt of India on 24/01/2017 approved the launch of Varishtha Pension Bima Yojana 2017 for senior citizens aged over 60. Like previously launched Varishtha pension bima yojana this scheme provide pension to senior citizens with a rate higher than the prevailing market rates of the annuity. Varishtha Pension Bima Yojana will provide 8% guaranteed return to the … Read more
Case 1(Health Insurance): Mr. Policy Holder met with an accident and admitted to hospital for treatment. After he got discharged from the hospital he claimed the hospital expenses from his insurer. To his surprise he received a letter from the TPA of insurer mentioning policyholder is suffering from hypertension and asked to submit the papers … Read more
On 15/12/2016 Insurance Regulatory and Development Authority of India (IRDAI) have published its annual report for the year 2015-2016. Along with all the other data related to life insurers, general insurers, and health insurer, IRDAI has also published the data related to individual death claim settled by all the 24 Life Insurance companies in the year … Read more
Life Insurance Corporation of India (LIC) has reintroduced its immediate annuity plan Jeevan Akshay VI with certain modification. Though LIC have not changed the name and plan number of this modified version and will be available with same name and plan number i.e. Jeevan Akshay VI, Plan number 189. IRDA UIN for this modified version … Read more
Keeping your contact details updated in your insurance policy helps you to get important notification related to your policy on time. Till now you have to register your LIC policy on the LIC portal to update your contact details in your policy or send the request to servicing branch. But, in the recent initiative “Help … Read more
Life Insurance Corporation of India has declared the Bonus rates for the valuation period 1st April 2015 to 31st March 2016. Along with it, LIC has also declared the one time Diamond Jubilee Bonus for its policyholders. Diamond Jubilee Bonus is declared from Rs. 5 per thousand sum assured to Rs. 60 per thousand sum assured. It … Read more
This year LIC of India has declared Bonus rate for all its with profit policies before the usual time as LIC is celebrating its Diamond Jubilee year. Every year Actuarial Department of LIC do the valuation and declares the bonus rates. These bonus rates are applicable for policy year entered upon during the inter-valuation period i.e. 01/04/2015 … Read more
You might have come across many websites which are comparing the insurance plans premiums and collecting data about the interested person through their online portals. These sites are called Web Aggregators. “Web Aggregator” – For the purpose of these guidelines, a web aggregator is a Company registered under Companies Act, 1956 (1 of 1956), approved … Read more