Go Digit General Insurance Limited, in partnership with K.M. Dastur Reinsurance Brokers, has launched an Air Quality Index (AQI)-based parametric insurance policy tailored for migrant workers in the Delhi NCR region. The policy is designed to mitigate wage losses for construction workers affected by government-imposed construction bans during periods of severe air pollution. Specifically, when … Read more
The Insurance Regulatory and Development Authority of India (IRDAI) has introduced a new payment mechanism called Bima-ASBA (Applications Supported by Blocked Amount) via Unified Payments Interface (UPI) to simplify premium payments for life and health insurance policies. The new system allows policyholders to block funds in their bank accounts for premium payments, ensuring smooth transactions … Read more
Smoking and consuming alcohol can have negative effects on one’s health and also while purchasing health insurance. Many individuals acquire health insurance with the expectation of never having to use it, but with the assurance that the policy will be there to assist in case of unforeseen circumstances. Despite common belief, individuals who smoke and … Read more
In a significant relief for senior citizens, the Insurance Regulatory and Development Authority of India (IRDAI) has imposed a limit on annual health insurance premiums. The regulator has stated that insurance companies cannot increase premiums for senior citizens by more than 10 percent. The regulator, in a press note issued on January 30, 2025, said that … Read more
My friend and I are in the process of considering term insurance, and a major point of concern for us is regarding smoking and drinking. Every broker has asked us whether we smoke or drink. One of us is a smoker who smokes almost daily, while the other person drinks occasionally on weekends or skips … Read more
Galaxy Health Insurance has introduced its inaugural product, Galaxy Promise, which offers a variety of health insurance plans specifically formulated to cater to the needs of families in search of cost-effective and comprehensive coverage. The plans, with sum insured options ranging from Rs 3 lakh to Rs 1 crore, are available in four distinct options: … Read more
I am Anjana. I recently bought an insurance policy through a reference. When I approached the insurance company for small changes in the policy, they said that the policy was fake. I have been defrauded, and now the person I bought the policy from is not reachable. Please advise me on my options to report … Read more
The mis-selling of insurance policies, encompassing life, health, motor, property, and other types of coverage, is a frequent reality. It is not uncommon for insurance agents or representatives to withhold crucial information regarding policy exclusions and limitations. Furthermore, there are instances where they may aggressively promote certain policies over others in order to achieve their … Read more
HDFC Life has announced its highest-ever bonus of Rs. 3,722 crore on participating plans. According to the insurance provider, this significant bonus is set to benefit approximately 22.23 lakh policyholders. Participating plans or par plans are a distinctive type of life insurance policy that allow policyholders to share benefits in company profits in the form … Read more
Harshvardhan Roongta, CFP, Roongta Securities, says “do not invest in any product to save tax. It is not about insurance or any other investment product. You have to look at the merit of that product. You should ask yourself a question any time that you are going to be looking at investing; would you invest … Read more