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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Half of term policy buyers opt cover of Rs 1 crore or more during April-August: Policybazaar
More and more people are going for a term insurance plan giving cover of Rs 1 crore or more to financially protect their family, reveals data...
MAS Team | 01 October 2020
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Life Insurers new business premium reports positive growth for second straight month in August
India’s life insurance industry continued to see growth in new business premiums (NBP) in August for the second straight month, writes The...
MAS Team | 11 September 2020
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LIC policyholders can now submit maturity claim documents online
To settle maturity and survival benefit claims, Life Insurance Corporation of India (LIC) has asked policyholders to send scanned copies of their...
MAS Team | 05 June 2020
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Life insurers new premium collections drop 32% in March
Life insurance players saw nearly all financial metrics such as sum assured, first year premiums, policies issued, and lives covered decline...
MAS Team | 24 April 2020
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LIC policyholders given 30 day relaxation for premiums due in March, April in wake of Covid-19 distress
The Life Insurance Corp of India (LIC) has announced a month-long extension for all policyholders whose premiums fall due in March and April in wake...
MAS Team | 15 April 2020
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IRDAI’s new guidelines to bring relief to group insurance customers of merging PSBs
The IRDAI has issued guidelines to protect the interests of customers of merging public sector banks who are also group insurance policyholders,...
MAS Team | 31 January 2020
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LIC waives off charges on credit card payments
Life Insurance Corporation (LIC) has clarified that any credit card originated payments towards renewal premium, new premium, or repayment of loan...
MAS Team | 07 December 2019
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ESI Contribution Reduced to 4% from 6.50%
The government has reduced the contribution under the Employees’ State Insurance (ESI) Act to 4% from 6.5%, a move expected to increase the...
MAS Team | 14 June 2019
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Share status of Claims with Policyholders, IRDAI tells Insurers
In a new circular released by the Insurance regulator IRDAI, insurance companies will have to inform about claim settlement status to policyholders...
MAS Team | 13 April 2019
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Your insurance premium is likely to cost less from April 1
Working-age Indians may have to pay less to buy life insurance in the next fiscal year, with the industry switching to the latest statistical tables...
MAS Team | 28 February 2019
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IRDAI proposes changes to norms for life insurance policy revival
Insurance buyers are set to get substantial benefits, with the regulator proposing significant changes to revival of policies
MAS Team | 31 October 2018
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‘Claim has to be honoured if death is unrelated to disease not disclosed’: NCDRC to LIC
The apex consumer commission has asked LIC India to pay Rs5 lakh to the kin of a deceased diabetes patient and made clear that insurance claims...
MAS Team | 12 October 2018
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Rs15,167 cr unclaimed money lying with life insurance companies
IANS | 31 July 2018
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‘Dream Builder Plan’ launched by IDBI Federal Life Insurance
MAS Team | 14 June 2018
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Pradhan Mantri Jeevan Jyoti Bima Yojana will have an option for quarterly premium payment
MAS Team | 25 May 2018
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Deadline for linking insurance policies to Aadhaar extended indefinitely
MAS Team | 23 March 2018
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