Leading state-run general insurer New India Assurance Company today said it will soon launch a new premium Mediclaim product as a part of its efforts to resolve the issue over the cashless health cover, which the state-run players had discontinued early July alleging inflated billing by hospitals.
Category: News
Latest news in India about finance, banking and insurance
IDBI sets new benchmark, no balance needed for accounts
In a move aimed at increasing its share of current and savings account (CASA) deposits, IDBI has done away with the concept of minimum balance on these accounts and has waived off most service charges except those pertaining to bounced cheques.
SBI mulls merger of other associate banks
State Bank of India (SBI) is considering the merger of all five of its remaining associate banks with itself, having amalgamated with two of them in the last two years.
LIC celebrates 54th anniversary, launches new pension plan
On the occasion of its 54th anniversary, the Life Insurance Corporation of India on Friday launched a new scheme – LIC pension plus. A unit linked deferred pension plan, the scheme provides the customer with a minimum guarantee on the gross premiums paid. The plan is without any life cover during the term of the policy.
Rs2,800 crore for LIC of India policyholders
Life Insurance Corporation Chairman TS Vijayan today said the life insurance major will pass on the tax benefits from the proposed Direct Tax Code to the new policyholders. “We will pass on the DTC benefits to the policyholders,” Vijayan told an insurance summit organised by industry body Assocham here today.
SBI Life Insurance launches new ULIPs
Leading the array of Unit Linked Life Insurance Plans (ULIPs) being introduced, SBI Life, the leading new generation life insurer, has launched Smart Performer and Unit Plus Super. These products are part of the new range that would address long term wealth-creation and protection needs of varied customer segments.
LIC India Declares 2009-10 Results [Rs. 23,478 Cr. Surplus]
Life Insurance Corporation of India, India’s largest life insurer, has announced its audited figures for the financial year ended March 2010. LIC has declared a Valuation Surplus of Rs 23,478 crores of which Rs 1,029 crores is given to the…
Sixty ULIPs filed with IRDA for approval
More than 60 new unit linked insurance policies (ULIP) have been filed for approval with the insurance regulator during the past two days by the Indian life insurers.
IRDA fines LIC, HDFC Standard for missing rural obligation
Insurance regulator IRDA has imposed a penalty of Rs 5 lakh each on two life insurers, state-run Life Insurance Corporation (LIC) and HDFC Life Insurance, for failing to meet rural and social sector obligation in 2008-09, Parliament was informed.
Fuel price hike inevitable: Govt
State-run fuel retailers struggle to find funds for expansion, says oil min he government on Monday asserted that the price hike in auto and cooking fuel was inevitable and refuted charges that the government raised fuel prices despite state-owned retailers posting profits last fiscal.