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India tag returned 117 results

  • India: Life insurers ask IRDAI to charge surrender value on accumulated premiums

    Life insurers have asked Insurance Regulatory and Development Authority of India (IRDAI) to charge surrender value on the accumulated policy value of customers instead of having the threshold value as an absolute amount, sources said recently.

    Date : 20 Feb 2024
  • India: LIC launches a traditional savings life insurance plan for children

    The Life Insurance Corporation of India (LIC) has launched Amritbaal, a traditional endowment policy - non-linked, non-participating - aimed at parents who are looking to build a higher education for their children over the long term.

    Date : 18 Feb 2024
  • India: ICICI Prudential launches tax-efficient pension product

    ICICI Prudential Life Insurance has launched ICICI Pru Gold Pension Savings, a tax-efficient pension product that enables customers to make systematic contributions and build the desired retirement corpus to lead financially independent retired lives.

    Date : 13 Feb 2024
  • India: SBI Life Insurance launches two new term plans with return of premium

    SBI Life Insurance has recently launched two products -SBI Life - Saral Swadhan Supreme and SBI Life - Smart Swadhan Supreme. These two new products not only provide a life cover but also benefit of return of premiums at maturity, to fulfil customer's financial objectives.

    Date : 24 Jan 2024
  • India: Payout by life insurers moderates in FY23 compared to previous year

    Payout by life insurance companies declined by about INR6,000 crore during 2022-23 because of lesser number of death claims as compared to previous financial year which was impacted by COVID-19. The life insurance industry paid a total benefit of INR4.96 lakh crore in 2022-23 as compared to INR5.02 lakh crore in FY22, according to the latest annual report released by sector regulator IRDAI.

    Date : 09 Jan 2024
  • India: Bajaj Allianz Life and HDFC Life launch new products

    Bajaj Allianz Life Insurance has introduced a variation of its participating savings plan, providing customers with a stream of increasing income while also protecting against the impact of rising inflation, while HDFC Life's new product is a guaranteed savings life insurance plan, designed to safeguard the future of loved ones' and attain their financial objectives.

    Date : 13 Dec 2023
  • India: Life insurers' premiums dropped y-o-y

    The life insurance industry reported a 25.28% decline in new business premium income in November 2023 to INR26,494.83 crore from INR34,588.8 crore recorded a year ago. The fall in group premium and change in taxation norms for policies with a higher ticket size dragged down the premiums of the state-run Life Insurance Corporation of India (LIC) and private insurers, respectively.

    Date : 10 Dec 2023
  • India: ICICI Lombard's new product offers comprehensive coverage at a competitive price

    Called MaxProtect, the latest addition to its range of customer-focused products is tailored to align with the dynamic lifestyles of customers. The product is designed to provide a cost-effective, inflation-adjusted solution to address the healthcare requirements of both individuals and families.

    Date : 06 Dec 2023
  • India: LIC launches a new individual, savings, and whole life plan

    Called Jeevan Utsav, it is a non-linked, non-participating, comprehensive form of life insurance providing lifetime coverage.

    Date : 03 Dec 2023
  • India: Life insurance is a sunrise sector - CEOs at Summit

    Life insurance remains a sunrise sector in India, characterised by low penetration, a large protection and pension gap, and massive growth opportunities in the coming decade. This was the consensus view of the Life Insurance CEO panel at the recent Business Standard BFSI Insight Summit.

    Date : 01 Nov 2023
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