The number of lives to be covered on renewal and claims in the current policy are by far the two most important factors that influence GMC renewal premiums. In this post, we’ll get to know about the impact of increase or decrease in lives on GMC renewal premium calculations. The reason why a number of […]
Articles Tagged: Renewal Pricing
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 […]