About 47% of individuals either surrendered their life insurance policies or failed to renew them over the past five years, highlighting a significant gap in financial preparedness in the country, according to SBI Life's Financial Immunity Report.
Although the Indian life insurance industry is witnessing a surge in awareness, it still struggles with low penetration and unawareness regarding the benefits of life insurance when taken at a young age. Financial Express lists seven reasons for why taking up insurance at a young age is a good idea.
Aditya Birla Sun Life Insurance (ABSLI) has launched the 'ABSLI Nishchit Laabh Plan', a non-linked, non-participating individual life insurance savings plan offering guaranteed returns and flexibility in choosing the benefits.
The 8th Asia Trusted Life Agents & Advisers Awards (ATLAA) concluded yesterday evening, celebrating 16 winners recognised for their outstanding contributions and performance.
LIC has launched Dhan Vriddhi, a new non-linked, non-participating, individual, savings, life insurance plan. The plan is only available in the domestic market.
The Insurance Regulatory and Development Authority of India (IRDAI) has granted a life insurance business licence to Go Digit Life Insurance Limited. Go Digit, a firm backed by Canada-based Fairfax Group, is already in the general insurance business.
Bajaj Allianz Life has launched the country's first term insurance product designed for Type 2 diabetics and pre-diabetic individuals. The plan is targeted at a segment that ends up being underinsured as they are denied cover at standard rates for health reasons.
ICICI Prudential Life Insurance has launched a new debt fund. Called ICICI Pru Constant Maturity Fund, it is available with the insurer's Unit-linked insurance plans (Ulips). The fund carries a lock-in of five years.
The rise in premium amount for life insurance is the biggest concern for consumers, and affordability has become a more pressing issue, according to a recent survey.
Max Life Insurance Company announced a partnership with the Indian Industries Association (IIA) to provide life insurance plans to the workforce of micro, small, and medium enterprises (MSME) in Uttar Pradesh.
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