L&T Insurance has launched health insurance plan – ‘my:health Medisure Prime Insurance’. The policy offers an innovative feature that allows you to reinstatement of sum insured in case of hospitalisation due to an Accident. Salient features of my:health Medisure Prime … [Read more...] about LT Insurance launched health plan – ‘my:health Medisure Prime Insurance’
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Star Union Dai-ichi Life launched endowment insurance plan – 'Suraksha Kavach
Star Union Dai-ichi Life Insurance has introduced participating endowment insurance plan - 'Suraksha Kavach'. The policy offers an innovative feature that allows you to continue life cover up to three years from the date of first unpaid premium, should you ever need to take a … [Read more...] about Star Union Dai-ichi Life launched endowment insurance plan – 'Suraksha Kavach
IRDA – PAN must for payment of premium above Rs. 50,000 in cash
Insurance Regulatory and Development Authority (IRDA) said that quoting PAN number would be mandatory for making cash payments of more than Rs 50,000 in insurance premium from November 1st 2011. Acceptance Stage To ensuring that premiums are paid out of clearly identifiable … [Read more...] about IRDA – PAN must for payment of premium above Rs. 50,000 in cash
IRDA fined HDFC Life for non settlement of death claim
The Insurance Regulatory and Development Authority (IRDA) has imposed a penalty of Rs 5 lakh on HDFC Standard Life Insurance Company for violating norms on claim settlements and has also asked the insurer to streamline its processes. The order was issued on a complaint filed … [Read more...] about IRDA fined HDFC Life for non settlement of death claim
IRDA modifies persistency norms for Life Insurance Agents
Insurance regulator IRDA had released modifications to earlier released persistency norms (11th February, 2011) for life insurance agents. New modifications has been issued keeping in view the objective of ensuring higher levels of persistency of life insurance policies as also … [Read more...] about IRDA modifies persistency norms for Life Insurance Agents
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 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'
Irda issues draft ALM stress testing norms for insurers
IRDA has laid down draft framework for asset liability management (ALM) and stress testing to guard investment activities of insurance companies against fall in the equity market and movement in the interest rate market. Irda has asked insurers to submit investment details in … [Read more...] about Irda issues draft ALM stress testing norms for insurers