A smoker will have to shell out more than what a non-smoker pays, for obvious reasons
Hike in reinsurance rates is cited as the main reason for jacking up term insurance prices.
Retirement planning: A well-diversified retirement portfolio can help reduce the impact of market swings.
IRDAI's objective is to safeguard policyholders' interests while also advancing the industry as a whole.
If the life assured dies during the term of the policy, the cover amount is paid to the nominee.
Term insurance riders are optional for policyholders but provides extra coverage if one opts for them
All three insurance products have tax benefits under section 80C & 10D of Income Tax Act.
Out of 10 insurers that are part of the index computation, four have hiked premiums while two exhibited a significant increase between 10.6% to 12.6%.
As a buyer, you can bring down the premium on insurance policies in many ways.
Term insurance is the most affordable insurance cover as there is no investment element attached to it.