insurance – Dnyan pravah news

FM directs public sector general insurers to develop products tailored to new and emerging risks, including cyber fraud

adminMay 28, 202507 mins

Finance and corporate affairs minister Nirmala Sitharaman has directed public-sector general insurance companies (PSGICs) to develop innovative insurance products tailored to new and emerging risks, including cyber fraud, and to diversify their product portfolio in line with evolving consumer needs in a bid to strengthen operations and generate profits. Three PSGICs–Oriental Insurance, United India Insurance…

How to become rich: THESE investment tips may keep you Atmanirbhar throughout your life

adminMay 18, 2025011 mins

When the nation is becoming Atmanirbhar, why should we individuals lag behind? Let us discuss how one can Atmanirbhar and remain Atmanirbhar during all the phases of life. Also Read | Gold price today in your city: Check Mumbai, Bengaluru, Chennai, Delhi on May 18 Early days in life Gaining basic knowledge about finance Ideally…

LIC Tech-Term Plan: 5 must-know facts before you consider investing

adminMay 13, 202507 mins

LIC’s New-Tech term plan has several qualities due to which it has emerged as a reasonable choice for individuals aspiring for easy and comprehensive life insurance coverage. This non-linked, non-participating pure risk premium online term insurance plan provides holders with several unique benefits that make it a must have for 2025. This plan is available…

Insurance for Electric Vehicles: A complete guide to ideal coverage and premium savings

adminApril 24, 202508 mins

Electric vehicles (EVs) are on the rise in India. But the insurance on such vehicles is expensive compared to those that run on petrol and diesel. Further, most insurance policies do not cover batteries. The cover on batteries can be bought only as an ‘add-on’ in most policies. Here is a primer on insurance for…

75% of health insurance buyers in India have less than ₹10 lakh coverage; awareness gap a worry, report finds

adminApril 17, 202505 mins

Lack of awareness is still the biggest stumbling block in insurance adoption in India, and around 47.6 per cent of Indians remain unaware of term insurance and its benefits, a new report has shown. Term insurance has grown by 18 per cent in FY24 across the industry as compared to a CAGR of just 2…

The rights of insurance policy nominees need legal clarity

adminApril 13, 202508 mins

In the complex world of asset distribution, the rights of nominees, particularly in life insurance policies, have been a subject of ongoing legal debate. Traditionally, nominees have been regarded as trustees, holding the proceeds of an insurance policy temporarily for the rightful legal heirs. However, a significant shift occurred with the 2015 amendment to the…

Rahul Matthan: Data-rich insurance models could fail beyond a point

adminMarch 4, 202509 mins

The modern insurance industry dates back to a time when merchants gathered in coffee houses (such as Lloyd’s) to collectively insure their vessels against sea-faring risks. Since then, it has expanded into other forms—health, property and life insurance—while remaining true to the fundamental economic principle of risk pooling. Also Read: Getting insured is one thing,…

Third-party vehicle insurance: Insurers in distress over three-year rate pause

adminMarch 3, 202509 mins

India mandates third-party vehicle insurance, or liability insurance, for all motorists to cover damages or injuries caused by the policyholder to someone else. The Insurance Regulatory and Development Authority of India, or Irdai, typically revises the premium rates for third-party vehicle insurance policies every 1-2 years under the Motor Vehicle Act. However, its last rate…

LIC rolls out Smart Pension Plan. Key questions answered for the retirement scheme

adminFebruary 19, 202503 mins

Life Insurance Corporation has rolled out LIC New Smart Pension Plan. It is a non-participating, non-linked, individual, savings, immediate annuity plan. This is a single premium immediate annuity plan. The official website of the state insurer – last updated on Feb 18 – specifies that the plan offer a wide range of annuity plans, among…

What is Free Look Period? FM Sitharaman urges insurance companies to hike time to one year

adminFebruary 17, 202503 mins

Union Finance Minister Nirmala Sitharaman has asked the insurance companies to increase the free look period to one year, compared to its current level of one month, according to a CNBC-TV18 report on Monday, February 17. According to the report, Nirmala Sitharaman also said that the committee has finished the internal consultation process on the…