Insurance
Health insurance for BPL from Nov 1
The Rashtriya Swasthya Bima Yojana (RSBY) for the below poverty line (BPL) families is going to be launched in Varanasi district on November 1. Before this launch, a workshop was organized by the district administration at Vikas Bhawan on Wednesday. The workshop was addressed by the district magistrate and he instructed the officials for full [...]
IRDA to raise lock-in period for ULIPs to 5 years
Insurance regulator IRDA stated that it would raise the lock-in period from 3 to 5 years, in a bid to check mis-selling of Unit Linked Insurance Policies (ULIPs) where ULIPs are investment cum insurance products, which invest in equity and debt market depending on the choice of the policyholders. However, the circular in this matter [...]
Life insurers get ready to meet deadline for cap on ULIP charges
Life insurance firms are all set to meet the Insurance Regulatory Development Authority (IRDA) deadline for the execution of cap on unit-linked insurance policies (ULIP) charges. While, they have also started talks with distributors in relation to commission structures and are also in the process of revising the existing product structures. However, while the IRDA [...]
Independent actuary essential for insurers going public
The Insurance Regulatory and Development Authority (Irda) is working on initial public offer (IPO) and mergers and acquisitions (M&A) guidelines. Insurance companies planning to enter the market will have to appoint an independent actuary as part of IPO and M&A norms to carry out valuations.
R Kannan, Member, Actuary said, “While the appointed actuary will carry [...]
MetLife starts first guaranteed monthly income plan
On Wednesday (26th Aug 2009), MetLife India Insurance became the first private sector life insurer to provide guaranteed monthly income along with other regular benefits like tax incentives and bonuses with the launch of Met Monthly Income Plan.
The scheme comprises the benefit of a guaranteed regular income for a long term along with potential upsides [...]
Life insurance premium collection reports decline
Life insurance premium collection reported decline due to economic downturn and hold on large salary hikes along with check on recruitment in several sectors. Consequently, consumer are preferring to hold their money or to smaller investments. A 12 per cent rise in the number of life insurance policies sold in April-June this year has resulted [...]
