New terminal illness-based term plan on the block

Published in Mint on Dec 14 2016.   Online term insurance policies are seeing a lot of innovation. Apart from breaking the sum assured into periodic payments for a beneficiary upon the death of the policyholder, IDBI Federal Life Insurance Co. Ltd’s iSurance Flexi Term Insurance Plan also offers to pay a portion of the […]

Read More

What is the meaning of An Insurance?

The concept of insurance originates from the principle of sharing the risks by a large group to reduce the burden on the few. Insurance also refers to ‘Risk Transfer’ in the language of risk management techniques. So, let’s discuss in detail what is the meaning of Insurance. Insurance is a legal contract involving two parties, […]

Read More

Term Life Insurance Rates

Footnotes: 1. Date of birth has been assumed to be April 1st in the respective year for each. age group 2. Rates are for a male, non-smoker, delhi-based. 3. DHFL Pramerica, Star Union Dai-chi Insurance Co Ltd. are offline plans. 4. Claim settlement = Claims settled/(claims settled + claims rejected+ claims repudiated). 5. Exide Life […]

Read More

Claim Settlement Ratio Of Life Insurers

Claim settlement ratio is an objective yardstick to select a reliable insurer. Especially for term insurance buyers, the death claim settlement record of the insurer is critical to measure. The purpose of insurance gets defeated if the claim is not honored. It pinches more when beneficiaries are reliant on the insurance proceeds. In such a […]

Read More

Old term insurance plans can be revived by paying unpaid premiums

Published in Mint on Aug 30 2016, Written by Abhishek Bondia What is a life annuity cover? Is it a good option for a life insurance plan? —Rajbir Singh In a life annuity plan, annuity payments continue till the death of the person covered, irrespective of age. There are several forms of annuities available. In […]

Read More