A life insurance policy is much more than a financial safety net for your family. It not only provides a financial cushion to the nominee in times of need but also benefits the life insured during the tenure. Along with the maturity/survival/death benefit, life insurance also offers tax benefits to the policyholder. So, not only […]
What is a Term and Health Insurance combo plan?
In today’s world full of uncertainties, insurance is a crucial aspect of your solid financial plan. Term insurance and health insurance are the two main essential insurance coverages that every individual must have. Without this comprehensive financial protection, one cannot ensure peace of mind. Securing the financial future of dependent family members and having a […]
Can I transfer my existing pure term policy to a zero-cost plan?
I bought a pure term insurance policy plan five years ago and have paid around ₹1.5 lakh as premium. Recently, I came to know about zero-cost term plans. Can I switch my current plan to zero-cost term plan so that I can get back my premium amount entirely? In simple terms, zero-cost term plans are a […]
Top Life Insurance Companies in India with Claim Settlement Ratio
Life insurance is becoming an essential part of every Indian household. It doesn’t just provide financial security in the event of your departure but also helps you deal with unexpected expenses. The claim settlement ratio is an important part of purchasing a life insurance policy. A comprehensive life insurance plan coverage with a lower premium […]
All you wanted to know about Group Term Life Insurance
Group term life insurance is the term coverage offered to a group of people under a single umbrella policy. In the event something were to happen to the individual covered under this policy; then the sum assured will be paid out to the other beneficiaries. This benefit will be available for the pre-determined term offered […]
Group Term Insurance: Has the landscape changed post-Covid 19?
Covid-19 brought in unprecedented challenges, the group insurers also faced a new set of challenges. So, the industry was already stressed due to the increasing medical costs, reduced demands, severe competition for markets share, etc. The bouts of waves are indicative of repeated economic disruptions and pressure upon medical infrastructure. In fact, the industry has […]
What are the benefits of group term insurance?
Most employers provide Group Insurance Plans to their employees, especially senior or more valuable ones. So, many of us might be covered under Group Term Plans, as well. However, we might not have much knowledge of how they work and the benefits available under these plans. Here’s a quick roundup of the nuances and benefits […]
What is the significance of FCL in GTL policy?
Overview FCL stands for Free Cover Limit in a Group Term Life (GTL) policy. It represents the sum assured amount up to which no medical underwriting is required for an employee to be covered. 📌 How FCL Works Sum‑Assured Threshold Employers set an FCL sum limit (e.g., ₹2 Cr). Employees requesting coverage within that limit receive […]
What is the “Active at work” clause under GTL Insurance policy?
Overview The “Active at Work” clause in a Group Term Life (GTL) Insurance policy ensures that coverage is only valid if the insured employee is physically present and actively working at the time the policy takes effect. This clause is crucial for insurers to mitigate the risk of covering critically ill or inactive employees who […]
How does stamp duty affect first-time purchase and renewal pricing for GTL?
As per government and regulatory norms, insurers are required to pay stamp duty for GTL policy. The calculation of the stamp duty amount is as defined under – 1. Stamp duty of INR 0.20 per INR 1000 of the sum insured. 2. Stamp duty is to be paid for every new GTL policy. 3. On […]