On 11th February 2011, IRDA issued circular to Insurers for new guidelines on Individual Agents, which will come into effect from 1st July, 2011. What are new changes? 1- Relatives of employees of Insurance Companies not to be engaged as Agents Relatives of employees of … [Read more...] about New Norms for Individual Insurance Agents from 1st July 2011
IRDA postponed implementation of health insurance portability to October 1, 2011
Insurance Regulatory and Development Authority (IRDA) has postponed the implementation of health insurance portability to October 1, 2011. Earlier, IRDA had announced that it would implement health insurance portability from July 1, which would allow customers to shift from … [Read more...] about IRDA postponed implementation of health insurance portability to October 1, 2011
IDBI Federal launches Termsurance Seniors Insurance Plan
IDBI Federal launches medical tests free - Termsurance® Seniors Insurance Plan for seniors, which can be bought after the age of 50, with premiums as low as Rs. 100 per month. The plan can be bought by those up to the age of 85 years and comes with a no-questions-asked, … [Read more...] about IDBI Federal launches Termsurance Seniors Insurance Plan
File your insurance complaints online with IRDA’s IGMS
What is IGMS? The Integrated Grievance Management System(IGMS) facilitates online registration of policyholders’ complaints and helps track their status. How do you use IGMS? A policyholder can make optimum use of this system by giving accurate information about the … [Read more...] about File your insurance complaints online with IRDA’s IGMS
Why not to buy travel insurance from travel agents?
A large number of foreign travellers, who book their holiday through a travel agent, often choose the policy offered by the travel agent for convenience or because they assume the great deal they just got on their package holiday will be replicated with the travel insurance too. … [Read more...] about Why not to buy travel insurance from travel agents?
IRDA releases draft IPO Guidelines for Life Insurance Companies
IRDA has released a draft IPO guidelines for Life Insurance Companies. When can Life Insurers apply for an IPO? 1. Only on completion of 10 years from the date of commencement of operations by the Insurer or such other period as may be prescribed by the Central Government. 2. … [Read more...] about IRDA releases draft IPO Guidelines for Life Insurance Companies
Things you should know before buying Critical Illness Insurance Plan!
Here is a guide to assist you in doing your homework for obtaining an appropriate Critical Illness plan for yourself. What is Critical Illness cover? As the name suggests, Critical Illness plans cover you for only certain specific critical illnesses that are pre-defined as … [Read more...] about Things you should know before buying Critical Illness Insurance Plan!
Tata AIG Life launches – 'Gyan Kosh'
Tata AIG Life Insurance Company Limited launches of 'Gyan Kosh', a non-participating unit linked endowment insurance plan. This plan comes with in-built benefits to ensure financial protection of one’s goals for children’s education, important milestones of life like marriage, … [Read more...] about Tata AIG Life launches – 'Gyan Kosh'
How to check LIC policy’s ‘Surrender Value’ and ‘Loan Eligibility’ online?
How to check the 'Surrender Value' and 'Loan Eligibility' of your LIC policy online? 1. Visit licindia and register as a new user. If you are already registered login here 2. Login to your account and click “Enrol Policies” in the left menu. 3. Click “Click to Enrol New … [Read more...] about How to check LIC policy’s ‘Surrender Value’ and ‘Loan Eligibility’ online?
IRDA imposes penalty of 5 lakhs on Six General Insurers
Insurance Regulator, IRDA, imposed a penalty of Rs 5 lakhs each on six general insurers - National Insurance Company, New India Assurance Company, ICICI Lombard, IFFCO Tokio, Royal Sundaram Alliance and Bajaj Allianz General Insurance Company, for appointing various outfits of … [Read more...] about IRDA imposes penalty of 5 lakhs on Six General Insurers