IRDA has relaxed the definition of 'Relatives' for the employees of Insurance Companies, who are looking to engage as Agents. Now as per new IRDA circular, “The term relatives is re-defined as spouse, dependent children or dependent step children whether residing with the … [Read more...] about IRDA relaxes the definition of 'Relatives' for Insurance Agents
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Bajaj Allianz launches Term Plans – 'iSecure Loan' 'iSecure More'
Bajaj Allianz Life Insurance has launched new term plans iSecure Loan and iSecure More. iSecure Loan is a decreasing cover plan to cover all kinds of loan liabilities and iSecure More is an increasing cover plan that provides increasing protection every year without increasing … [Read more...] about Bajaj Allianz launches Term Plans – 'iSecure Loan' 'iSecure More'
ICICI Pru launches ULIP plans – 'Elite Life' 'Elite Wealth'
ICICI Prudential has launched two unit linked insurance products – ICICI Pru Elite Life and ICICI Pru Elite Wealth. These products offer customers the flexibility of choosing the frequency of their premium payments. The products offer customers the flexibility of either … [Read more...] about ICICI Pru launches ULIP plans – 'Elite Life' 'Elite Wealth'
IRDA nod for Reliance Life sale of 26% stake to Nippon Life
Reliance Life Insurance has received in-principle approval from insurance sector regulator IRDA for its proposed 26 percent stake sale in Reliance Life Insurance to Japan’s Nippon Life. The company has received in-principle approval from the Insurance Regulatory Development … [Read more...] about IRDA nod for Reliance Life sale of 26% stake to Nippon Life
Canara HSBC OBC Life Insurance launches Smart Sanchay Plan
Canara HSBC Oriental Bank of Commerce Life Insurance Launches Smart Sanchay Plan, a traditional group protection-cum-savings product. Smart Sanchay Plan has been designed for deposit account holders of the distributor banks and is tailor-made for the Company’s bancassurance model … [Read more...] about Canara HSBC OBC Life Insurance launches Smart Sanchay Plan
Oriental Insurance launches 'New Pravasi Insurance' for Fed's NRI customers
Oriental Insurance in association with Federal Bank has launched a new insurance scheme, Fed Oriental 'New Pravasi Insurance', for its new NRI customers. Fed Oriental Pravasi Insurance covers hospitalisation expenses of NRI customers by providing cashless treatment facility at … [Read more...] about Oriental Insurance launches 'New Pravasi Insurance' for Fed's NRI customers
IRDA limits TPA services to insurers only
The Insurance Regulatory and Development Authority (IRDA) has withdrawn permission given to TPAs in 2005 to offer their services to bodies other than insurance companies, such as Central and State governments. The Third Party Administrators (TPAs) in health insurance will now … [Read more...] about IRDA limits TPA services to insurers only
SBI Life launches Health Insurance Plan – ‘Hospital Cash'
SBI Life Insurance has launched health insurance plan ‘Hospital Cash'. The plan provides fixed daily allowance to the insured for every day of hospitalisation. Salient Features of Hospital Cash 1- Hospital Cash's daily hospitalisation cash benefit is available for a fixed … [Read more...] about SBI Life launches Health Insurance Plan – ‘Hospital Cash'
Cholamandalam fined 10 lakh by IRDA for violating corporate agency guidelines
Cholamandalam general insurance has been levied Rs. 10,00,000 (Rs. 5,00,000 each for financial years 2007-08 and 2008-09) fine by the Insurance Regulatory and Development Authority of India (IRDA) for violating the provisions of various regulations, guidelines and … [Read more...] about Cholamandalam fined 10 lakh by IRDA for violating corporate agency guidelines
IDBI Federal Life Insurance launches ULIP – Wealthsurance Dreambuilder
IDBI Federal Life Insurance launches new ULIP called Wealthsurance Dreambuilder Insurance Plan. Wealthsurance Dreambuilder Insurance Plan offers various investment options as per the needs of customer depending upon his or her risk appetite. For instance, conservative customers … [Read more...] about IDBI Federal Life Insurance launches ULIP – Wealthsurance Dreambuilder