Term cover costs set to go up as reinsurers hike life rates
According to insurance distributors, some companies have indicated that rates will go up from April 2021, when the new reinsurance contracts come into force. The companies that are understood to be revising their rates include Max Life Insurance, Tata AIA Life Insurance, IndiaFirst Life and Aegon Life.
Latest life insurance claim settlement ratio of companies in 2021
One should not only look at the number of claims settled, but while buying an insurance policy, one should also check the benefit amount that the life insurer has settled. A life insurance company may have a higher percentage of claim settlement by number of policies but a lower percentage when it comes to paying the benefit amount.
Bharti AXA General Insurance launches of Health AdvantEDGE: All you need to know
According to a press release by Bharti AXA General Insurance, "Health AdvantEDGE is one of the few healthcare products that offer comprehensive wellness benefits as a key differentiator in the domestic health insurance market. It is specially designed to support healthcare and wellness needs of customers."
4 reasons why health insurance saw a big jump in demand in last 10 months: Policybazaar
Policybazaar said that it has sold 10 lakh insurance policies between April-Dec 2020. Over these nine months, it said that it has sold 4 lakh health insurance policies amounting to a total sum insured of over Rs 7 lakh crore, the company said in a press release.
What is insurable interest?
Insurable interest in the property or life is the basis of insurance policies. The essential thing is that there must be some property, right, life or potential liability capable of being insured.
