life insurance policy

Here’s why insurers ask for educational background when selling term life insurance policies

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Here’s why insurers ask for educational background when selling term life insurance policies

When you buy a term life insurance policy online, you may be surprised that your insurer is interested in your educational background. This may seem unusual or even invasive, but there are valid reasons why insurance providers consider this information necessary.  Pricing structures, called premium rates, are ultimately determined based on the probability and cost … Read more

You may not have to pay high surrender charges on your insurance policy from next year; here is what Irdai proposes

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You may not have to pay high surrender charges on your insurance policy from next year; here is what Irdai proposes

Abandoning life insurance policies midway through the term often results in a significant financial setback due to the high surrender costs associated with the early years of the policy. Recognising this, the Insurance Regulatory and Development Authority of India (Irdai) has proposed measures to increase the surrender value of non-linked policies in an exposure draft … Read more