According to rough estimates, the need is at least Rs 2,000-3,000 crore in each of the companies, the total collective requirement is close to Rs 12,000-13,000 crore
The spouse's economic value can be arrived at by estimating the cost of outsourcing such services
A physical copy of the insurance will be delivered to customer's doorstep on request
Act now to put derailed finances on track
It is best to purchase a term plan early in life when one is young and in good health
New business premium is the premium acquired from new policies in a particular time period
Lack of clarity often led to disputes between customers and insurers over whether certain claims could be honoured
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While the pace of growth for the four listed life insurers has come down, HDFC Life and Max Life fared better
Ensure that you have a life and medical policy in place. This will safeguard your family against any eventuality and cover liabilities
Never pay in cash and call up insurer to check the genuineness of policy once you get a copy
The total premium underwritten by LIC in Q1 was of Rs 60,106 crore
Now policies will acquire a surrender value after two premiums have been paid
A relatively new industry for stock markets, investors will take time to understand the business dynamics
In case you surrender or break up the policy, you will get lesser amount compared to your original maturity benefit, as surrender charges will be applicable
The new regulations will allow the insurers to charge an extra premium from policyholders who wish to buy riders with unit-linked insurance plans.
Credit-linked insurance plans are available for retail investors. The majority of life insurance companies offer it as a part of their group business
Low penetration and increasing awareness to propel sale of more profitable protection products
Term insurance, despite being the most fundamental and cheapest form of financial protection, still lacks a significant uptake in urban India