IRDAI Announces Final Surrender Charges for Life Insurance Products
The Insurance Regulatory and Development Authority of India (IRDAI) has unveiled the conclusive surrender charges for non-linked or linked life...
MAS Team | 28 March 2024
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Insurance Mis-selling: Union Govt Suggests Checks on Agents, including Recording Sales Pitch, Says Report
Insurance agents may soon be required to maintain audio-visual records of their sales pitch, where they must read out a summary of the policy...
MAS Team | 04 January 2024
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Irdai's Proposed Changes to Surrender Values
The Insurance Regulatory and Development Authority of India (Irdai) is set to shake up the insurance landscape with its draft product regulations,...
MAS Team | 15 December 2023
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Insurer launched insurance covers with add-on for damage to EV battery while charging
Zuno General Insurance, formerly known as Edelweiss General Insurance, has introduced three innovative add-on covers for electric vehicle (EV)...
MAS Team | 23 November 2023
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Rising Consumer Demands Prompt Measures to Enhance Clarity in Insurance Policies
In a notable shift, a growing number of policyholders are turning to consumer courts when their insurance claims face rejection or discrepancies.
MAS Team | 05 October 2023
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IRDAI Forms Task Force to Simplify KYC Using Aadhaar for Policyholder
The Insurance Regulatory and Development Authority of India (IRDAI) has taken substantial efforts to make the Know Your Customer (KYC) procedure for...
MAS Team | 01 June 2023
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IRDAI Prohibits repayment of Insurance Policy loans via Credit Cards
In a recent circular, the Insurance Regulatory Development Authority of India (IRDAI) has prohibited all life insurers from accepting loan repayments...
MAS Team | 06 May 2023
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To renew lapsed LIC policies that have expired, LIC runs a special revival campaign.
Life Insurance Company launched a unique initiative to reopen insurance policies that had expired, enabling policyholders to resume their coverage....
MAS Team | 17 March 2023
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LIC Warns Policyholder About Fake Information With Regard to Penalty Charges for KYC Update
In a public notification, the Life Insurance Corporation of India stated that it does not impose any fines on customers who fail to update their Know...
MAS Team | 23 December 2022
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For New Life Insurance policy, Covid-recovered Have to Wait For 3 Months
People who have recovered from Covid and wish to take a life insurance policy may have to wait for up to three months before they can avail it.
MAS Team | 21 January 2022
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LIC launches campaign to revive lapse policies; offers concession on late fees
Life Insurance Corporation of India (LIC) launched a special campaign for the revival of lapsed individual policies, writes The Economic Times.
MAS Team | 28 August 2021
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Rs 4,698.10 crore paid for death claims under PMJJBY last fiscal
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) has settled more than two lakh death claims of around Rs 4,700 crore in the previous financial...
MAS Team | 03 July 2021
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Life insurers first year premium declined by 5.6% in May
New premium income of life insurance companies declined by 5.6% to Rs 12,976.99 crore in May this year, according to the IRDAI data.
MAS Team | 11 June 2021
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Wife not entitled to insurance money if not contributed by deceased husband, rules Madras High Court
The wife will not be entitled to any legal share in the insured money, if her deceased husband did not contribute any premium, the Madras High Court...
MAS Team | 04 June 2021
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LIC eases claims process, life certificate requirements for its policies
Life Insurance Corp of India has eased its claims settlement process in a bid to help customers with the process during the pandemic, writes The...
MAS Team | 12 May 2021
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Term life cover to become expensive as insurers look at recouping losses from Covid
Insuring life is set to get more expensive and harder in the fiscal year starting April, writes The Economic Times. Increased comorbidity risks due...
MAS Team | 12 March 2021
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Insurance Cos asked to issue digital policies, use DigiLocker by IRDAI
Insurance sector regulator Irdai has asked insurers to issue digital policies to their policyholders and also tell them how to use these documents,...
MAS Team | 19 February 2021
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Insurance policy documents can be saved in Digilocker, says IRDAI
The Insurance Regulatory and Development Authority of India (IRDAI) told insurers to enable their IT systems to interact with Digilocker facility to...
MAS Team | 11 February 2021
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LIC IPO: 10% of issue size reserved for policyholders
Up to 10% of the LIC IPO issue size would be reserved for policyholders, Minister of State for Finance Anurag Thakur said.
MAS Team | 10 February 2021
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IRDAI Mandates Insurers to Offer Standardized Life Insurance Starting 2021
Irdai has come out with the guidelines for a standardized individual term insurance mandating all life insurance companies to offer these policies...
MAS Team | 16 October 2020
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