Published in Livemint The Insurance Regulatory and Development Authority of India (Irdai) stated in a circular last week the formation of a working group to examine various aspects of index-linked insurance products (Ilips) that may be offered by life insurers. Ilips are not new in life insurance companies’ arsenal. Before 2013—when the regulator banned the […]
Articles Tagged: Life Insurance
Please don’t die till I get you a life insurance cover
Published in Mint on 6th August,2014, Written by Kapil Mehta Term life insurance is a difficult concept. There are no returns if you live but a large payment to the family if you die. Term life accounts for less than 10% of sales in India compared with over 35% in the US. Apart from being […]
Don’t hide any fact from insurer while filling proposal form
Published in Mint on Jan 14 2014, written by Kapil Mehta How long does it usually take for the insurer to pay claims that happen due to critical illness? —P. Chandra The insurance regulator requires insurers to settle claims within 30 days of receiving the required documents and clarifications. Payment time for critical illness is similar […]
If you were mis-sold Ulips, exit when surrender cost is zero
Published in Mint on, Oct 08 2013, Written by Kapil Mehta I started investing in a life insurance-cum-investment plan amounting to Rs.50,000 per annum as premium and it had a lock-in period of three years. Till date, I have paid 4 instalments (total amount paid till date is Rs.2 lakh for four years) but its […]
Term covers pay death benefit even if you are outside India
Published in Mint, September 10, 2013, Written by Kapil Mehta I am 35 years old and run my own company. I am out of the country for at least five months in a year. What kind of cover is advisable for me? Also, if any mishap occurs, will the cover support me when I am […]
Why the sale of life insurance products dipped in March
Published in Livemint. Life Insurance companies clocked 11.36% growth in collective sum assured during financial year ending 31 March 2020, according to data published by the Insurance Regulatory and Development Authority of India (Irdai). However, new business premium tanked 32% in March 2020 to ₹25,409.30 crore compared with ₹37,459.36 crore in March 2019. Life Insurance […]
The simple insurance plan that is complex
Published in mint on 29th May, 2017. Insurance Regulatory and Development Authority of India (Irdai) has taken many steps to increase the distribution footprint of insurance products in India. And in order to get more feet on the street, the regulator has allowed the industry to make use of point of sales persons (PoSPs). PoSPs […]
Nominees can file life insurance claims even if beneficiaries of the policy are no more
Published in Mint on May 21, 2017, Written by Abhishek Bondia. My brother had bought a term plan on his life for Rs1 crore (more than 4 years ago). He had a wife and 2 children who were the beneficiaries. Both children were below 7 years of age. As his children were very young, I […]
Policy can be activated by paying during reinstatement period
Written by Kapil Mehta and published in Mint in December 2013 Under what circumstances can a life insurance company refuse to pay insurance proceeds? —Namrata N. Insurance proceeds are paid on maturity of the policy or on death of the policyholder. Most often, refusal to make a payment takes place in case of death rather […]
BW Businessworld Life Insurance Summit 2017 | ‘Trust Deficit Is The Greatest Challenge In Insurance Distribution’
Published in Business World, on 28th April 2017 Vighnesh Shahane, CEO, IDBI Federal Life Insurance, Kapil Mehta, Founder & EO, SecureNow Insurance Brokers, Shirish Pathak, CEO, Fintelekt and Nilesh Parmar, COO, Edelweiss Tokio Life Insurance shared the stage for the panel discussion on nurturing a healthy distribution ecosystem. Aniruddha Bose inaugurated the discussion by asking […]