The claim settlement ratio of LIC was better than that of the private life insurers,” Insurance Regulatory and Development Authority said in its annual report.
Category: Insurance
Info about insurance sector in India
New norms to make health cover claims much easier
Now a days IRDA is working hard to make the life simpler for a policyholder, in past it has allowed portability in the health insurance, which gives the new wings to policyholders stuck with the insurance provider not listening to…
ING Guaranteed Income Insurance Plan
Ing Life Insurance recently introduced a new plan that offers guaranteed regular income. In this plan an investor has to pay premiums for few years and get guaranteed benefits like regular income at an attractive rate of 11% – 13%…
Bhagya Uday – LIC of India Package
Bhagya Uday is a combination of life insurance policies from India’s largest life insurance company – LIC of India. Bhagya Uday is a concept where you buy a package of LIC policies that have different features to suit your need.…
Automatic Restore Option in Health Insurance
What is Restore Option? Now days a concept of “Restore” is introduced to the health insurance products. Under this option the sum insured is reinstated (restore) after it has been exhausted before a policy year ends. Let’s see an example:…
STAR shines brightest in claim settlement
When it comes to claim settlement, private insurance companies are perceived to be better than their public sector counterparts, reveals the findings of the Hindustan Times-MaRS survey. Respondents to the survey ranked India’s first stand-alone health insurance company, Star Health…
Smart Kid – Child Plan from ICICI Prudential
As a loving and caring parent, you have big dreams for your child and you want to make those dreams come true.
IRDA norms for new life schemes
Insurance regulator IRDA on Tuesday said that all universal life products, a new kind of insurance which entered India recently and gives greater flexibility to customers, will not have any unit-linked component in them.
Life Insurance V/S Other Savings
Life insurance assures payment of the entire amount assured (along with bonuses, wherever applicable) in case of demise, whereas in other savings schemes, only the amount saved (with interest) is payable.
Health Protection Plus – Health Insurance
Health is a major concern on everybody’s mind these days. With sky rocketing medical expenses, the possibility of any illness leading to hospitalization or surgery is a constant source of anxiety unless the family has actively provided for funds to meet such an eventuality. Most families rarely provide for healthcare, and even if they do, it is grossly inadequate. Given this scenario, LIC has launched LIC?s Health Protection Plus plan, a unique long term health insurance plan that can combine health insurance covers for the entire family (husband, wife and the children) ? Hospital Cash Benefit (HCB) and Major Surgical Benefit (MSB) along with a ULIP component (investment in the form of Units) that is specifically designed to meet Domiciliary Treatment Benefit (DTB) / Out Patient Department (OPD) expenses for the insured members.