Published in Mint on April 02 2015 Paving the way for an open architecture in insurance distribution, the Insurance Regulatory and Development Authority of India (Irdai), has issued draft guidelines on corporate agents. Corporate agents are entities such as banks that solicit insurance policies for insurers. Agents are individuals doing the same job. According to […]
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Insurance gets a new distribution channel
Published in Mint on March 23 2015 The insurance industry is ready for a new distribution channel—insurance marketing firm, officially abbreviated as IMF. The channel will be allowed to distribute policies of two insurance firms in the same line of business, and will also be allowed to distribute other financial products as allowed by the […]
Financial instruments likely to cost more
Published in Mint on Mar 02 2015 Apart from mobile phone and restaurant bills, cost of financial products, too, will go up marginally due to the increase in effective service tax rate from 12.36% to 14%. The Finance Bill states: “In the new service tax rate the education cess and secondary and higher education cess […]
How To Port Your Medical Insurance Policy
Published in NDTV Business on 9th December, 2017. Before you pay your insurance premium, you should take a relook at your medical insurance policy from all perspectives – premium, benefits and coverage plan. In case you find your policy a little too expensive or unfeasible, you should port it to another insurer. In fact, Insurance […]
Switch from covid plan to overall health insurance
Published in Livemint. If you bought one of the two covid-specific products—Corona Kavach and Corona Rakshak—for the shortest tenor available, you may soon be left without a cover. The Insurance Regulatory and Development Authority of India (Irdai) launched the two products on 10 July that come with tenors of 3.5, 6.5 and 9.5 months. Once […]
Baby steps towards financial planning
Published in Mint on Feb 16 2015 Do you remember the feeling that you had when you first held your child in your arms? Some say it was happiness, others say it was responsibility. A part of this sense of responsibility is to provide everything to the bundle of joy. According to a study conducted […]
Need to slice health insurance claims data for more clarity
Published in Livemint. The moment of truth for a health insurance product is when a policyholder raises a claim. So in rating insurance policies for customers, claims data becomes an important parameter by which to assess an insurer. Mint SecureNow Mediclaim Ratings (MSMR), too, looks at claims data available in the public domain when rating health insurance […]
Super top-up health insurance plan vs top-up plan: What policyholders should know
Published in Economic Times If you have a health insurance policy with a comparatively low sum assured, you can consider buying a top-up insurance plan. A top-up plan increases the insurance coverage over and above your existing base policy at a comparatively lower cost as compared to increasing the sum assured in the base policy. […]
Look at costs when index-linked insurance products are revived
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 […]
Should You Buy Corona Kavach Policy For Your Existing Health Insurance?
Published in Femina Are you thinking of increasing your medical insurance coverage due to the coronavirus pandemic? If so, those with existing health insurance can look at two options: Buying a Corona Kavach policy or taking a super top-up/top-up plan for their existing health insurance. Here’s a look at some of the advantages and disadvantages […]