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Should you have more than one nominee in your term insurance?

Should you have more than one nominee in your term insurance?

The nomination process is crucial to protect the interests of the insured’s family. However, just appointing one nominee shouldn’t be done by default as many do.

Source THE ECONOMICS TIMES | 18/05/2022


Four advantages of opting for a multi-year health insurance plan

Four advantages of opting for a multi-year health insurance plan

If you don’t want the hassle of renewing your policy each year and can afford the higher one-time premium outgo, opting for a multi-year health insurance plan could work to your advantage.

Source Money Control | 17/05/2022


Unclaimed Insurance Money With LIC Is Higher Than 4 Indian Ministry Budgets & 2 Gaganyaan Missions!

Unclaimed Insurance Money With LIC Is Higher Than 4 Indian Ministry Budgets & 2 Gaganyaan Missions!

The scale of this massive outstanding amount is much higher than the budgets of many central government ministries Unclaimed amounts include settled claims which haven’t been paid out, sums which become due when policies mature as well as excess amounts paid which are to be refunded

Source Indiatimes | 17/05/2022


A mistake in filling up the hospital forms can cost you your insurance claims

A mistake in filling up the hospital forms can cost you your insurance claims

Taking treatment at non-cashless network hospitals, ‘unnecessary’ hospitalisation and ‘unreasonable’ charges are some of the lesser-known causes due to which your health insurance claims could get rejected

Source Money Control | 16/05/2022


How wellness benefits can help reduce your health insurance premium

How wellness benefits can help reduce your health insurance premium

Health insurers can incentivise policyholders who meet wellness criteria by offering reward points or lowering health insurance premiums at the time of renewal. This feature is a win-win for both parties.

Source Money Control | 16/05/2022


Higher propensity to purchase insurance in tier-2 and 3 cities after Covid: Survey

Higher propensity to purchase insurance in tier-2 and 3 cities after Covid: Survey

At 89%, the survey revealed the highest number of respondents willing to renew their health cover belong to tier-2 cities, compared to 77% from tier-1.

Source ET Now Business  | 12/05/2022


Misfueling cover in India: Damaged car or bike engine after using wrong fuel? Will motor insurance help?

Misfueling cover in India: Damaged car or bike engine after using wrong fuel? Will motor insurance help?

Using wrong fuel in a vehicle can cause some serious damage to its engine. However, motor insurance policies do not provide any protection against such act of negligence. 

Source Financial Express | 12/05/2022


Insurance cover: Why you need to buy home insurance

Insurance cover: Why you need to buy home insurance

Review your home insurance requirement every year so that your home does not remain underinsured following an enhancement in the value of your home

Source FINANCIAL EXPRESS | 11/05/2022


Life insurance firms settled 2.2 lakh Covid death claims: Regulator data

Life insurance firms settled 2.2 lakh Covid death claims: Regulator data

Compensation towards Covid death claims were reported under individual, group policies and the PM Jeevan Jyoti Bima Yojana (PMJJBY). Back-of-the-envelope calculations indicate that the average claim per person was Rs 7,63,965.

Source The Indian Express | 11/05/2022