Kerala, it seems, is planning on becoming the first State to bring Ayurvedic treatment under insurance cover. The move is part of an action plan of the State Government to boost traditional knowledge in healthcare and transform Kerala into a global hub for this Indian system of medicine. The Ayurveda Action Plan is part of [...]
Growth in premiums for the Health insurance segment has fallen to 25 per cent in 2011-12 from 35 per cent registered in 2010-11. The dip is mainly blamed on a fall in the number of government-driven schemes and the economic slowdown, media reports say. In 2010-11, the total premium for the segment was estimated at [...]
e-Protect Company: Bharti Axa Life Insurance Company Type of policy: Term insurance policy that can be purchased online Minimum age at entry: 18 years Maximum age at entry: 60 years (-) policy term Maximum age at maturity: 60 years Policy term: 10, 15, 20, 25 and 30 years Premium paying term (PPT): Same as the [...]
My Health Company: L&T General Insurance Company Type of policy: Non-linked, non-participating, Limited Pay endowment plan Minimum age at entry: Proposer: 18 years; Children: 3 months Maximum age at entry: Proposer: 65 years; Children: 18 years Minimum sum assured: Rs 3 lakh Maximum sum assured: Rs 10 lakh Benefits: • Double Sum Insured for treatment [...]
The Union budget has made insurance products of all varieties costlier, and it is expected that premiums on all products – unit linked insurance plans (ULIPs), traditional endowment and term policies – will go up, according to reports. Thus, by one estimate, service tax currently amounting to Rs 286 on a given policy would go [...]
Reliance Life Insurance Classic Plan – II Company: Reliance Life Insurance Company Type of policy: Unit-linked policy Minimum age at entry: 7 years Maximum age at entry: 60 years Minimum maturity age: 22 years Maximum maturity age: 75 years Minimum policy term: 15 years Maximum policy term: 30 years Minimum premium: Regular: Rs 15,000 per [...]
Maha Jeevan Plan Company: IndiaFirst Life Insurance Company Type of policy: Savings plan Minimum age at entry: 5 years Maximum age at entry: 65 years Minimum age at maturity: 18 years Maximum age at maturity: 75 years Policy term: 10 to 25 years Premium payment mode: Yearly or half-yearly or monthly Minimum premium: Rs 6,000 [...]
Sahara Vatsalya-Jeevan Bima Company: Sahara Life Insurance Company Type of policy: Endowment Policy Minimum age at entry: Parent: 20 years; Child: 0 year Maximum age at entry: Parent: 50 years; Child: 12 years Maximum coverage age (Parent): 70 years Policy term: 22 minus age at entry of child Minimum premium: Rs 8,069 Premium paying term: [...]
The Life Insurance Corporation (LIC) has pumped in Rs 2,137 crore in four public sector banks via the preference share route. LIC, according to separate filings with Bombay Stock Exchange, has invested Rs 1,037 crore in Bank of India, Rs 650 crore in Union Bank of India, Rs 302 crore in Indian Overseas Bank and [...]
Bharti Axa General Insurance is reportedly confident of posting a growth of 45 per cent in its gross premium collection in 2012-13. With the declined risk pool system, coupled with the possibility of an upward revision of premium in the commercial vehicles buisness, the company hopes to post a 40-45 per cent growth in premium [...]
