Here is a list of 9 frequently used insurance jargon you should know about before buying a policy
The changes were made by the Department of Financial Services by amending Life Insurance Corporation of India (Employees) Pension (Amendment) rules
In the event of his death, it is his or her current and future potential income that represents the family member's true financial loss
There are some basic differences between term and endowment plans. Money9 gives you a basic comparison
Beneficial nominees are the final and undisputed beneficiaries of the insurance benefits unlike regular nominees
A total of 30,071 children were orphaned, lost a parent, or abandoned mostly due to the Covid-19 pandemic
The claims settlement ratio signifies the percentage of settled claims by the insurer out of the total claims received
The claims paid ratio (provisional) stood at 98.1% for individual claims and 98.6% in the group category
Third-party payment is not allowed in the term insurance, says Naval Goel, founder and CEO, PolicyX.com
As per the reports, the life insurance industry has cumulatively settled 25,500 Covid-related death claims worth Rs 1,986 crore in FY21