Switching health insurer without losing benefits
Introduction
In this article I will be writing about the new option provided for the health insurance policy holders. It is good news that IRDA has come up with rules favor of the policy holders. Please subscribe to our future articles here.
Switching health insurer without losing benefits
You can not switch to the another health insurer without [...]
Insurance Agent Commission may continue
In my previous article I have written about the proposal on removing the insurance agent commission by D Swarup, the chairman of the Pension Funds Regulatory & Development Authority (PFRDA). Also I have mentioned that agents are the key to getting the more business for the insurance companies and they are the key driving factor. [...]
IRDA Announcement on Insurance Agents
Recently IRDA has announced new restriction for the Insurance agents. The following are the restriction and rules should be followed by agent and the insurer.
With the new announcement, agents cannot change the insurance company very frequently.
Every agent has to stick with the same company for at least three years, then only he can move [...]
List of Life Insurers in India
The following are the list of Life Insurance Companies in India. The list is published by IRDA.
Bajaj Allianz Life Insurance Company Limited
Birla Sun Life Insurance Co. Ltd
HDFC Standard Life Insurance Co. Ltd
ICICI Prudential Life Insurance Co. Ltd.
ING Vysya Life Insurance Company Ltd.
Life Insurance Corporation of India
Max New York Life Insurance Co. Ltd
Met Life India Insurance [...]
Will Insurance Agents deserve those commissions?
Introduction
This blog post explains about the new proposal sent to the Insurance Regulator to cut down the existing commissions paid to insurance agents and increase the sum assured for the policy holders. It is just a proposal and it looks nsurance Regulatory & Development Authority (IRDA) is not much interested in the proposal. In this article [...]
IRDA plans to allow banks to tie up with 2-3 insurance cos
Banks can tie up with utmost one insurance company as the agency. For example IOB has the LIC as the Insurance partner. Insurance sector regulator IRDA is considering whether to allow banks to tie-up with two-to-three insurance firms to sell their insurance.
The regulator is currently reviewing the existing Banacassurance model and has set-up a seven-member committee to [...]
Health Insurance Entry age for Senior Citizens
Introduction
This article writes about the maximum entry age for senior citizens to take the health insurance policies. IRDA has imposed new rules to the insurer to increase the entry age. This article will write about the new age limit and exisitng age limit for each insurer. Post your feedback in the comments section. Subscribe to [...]
15 Days Lock-In period for Health Insurance Policies
As of now there is no lock-in or test period for the health insurance policies. That means insurance companies once sold the policies to the customer then there is no way for the customer to cancel the policy for any reason. Insurance Regulatory and Development Authority(IRDA) feels that insurance companies misusing this and selling the [...]
