In a bid to explore and expand the new avenues in the overall term insurance market in India, leading private sector insurer Bharti AXA Life has enriched the protection cover segment with the benefits of Quit Smoking and Stay Fit in its life cover solution Bharti AXA Life Flexi Term Pro. The Bharti AXA Life Flexi Term Pro offers the option to cover the life up to 99 years and also provides a customised shield with multiple flexibilities to financially secure the insured and the person s family. The company introduced quit smoking and stay fit benefits for customers with an additional discount of 5 per cent on the subsequent renewal premium. The new protection solution stirs customers to get rewarded for a healthy lifestyle on quitting smoking and improved health status and reduce policy premium under the new benefits before the third policy anniversary and the second policy anniversary respectively.
Bajaj Allianz Life Insurance on Wednesday launched an insurance plan offering a guaranteed regular deferred annuity during post-retirement life. There is a funding gap in the post-retirement life and lots of people will not be earning but would need funds, so this is a grave issue that needs to be addressed, said Bajaj Allianz Life MD and CEO Tarun Chugh while announcing the launch of Bajaj Allianz Life Guaranteed Pension Goal plan. The life insurer said the plan is designed to fill the gap of the pension needs of various categories of people, which has nine different variants in the offing.
Read more about State-owned Life Insurance Corp launches new plan Bima Jyoti on Business Standard. The plan is a non-linked, non-participating, individual, savings plan offering a combination of protection and savings
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Introduction
The control and acquisition of entities in India by foreign investors and private equity (PE) funds is regulated by:
the foreign investment norms specified by the Reserve Bank of India;
the norms specified by the Securities Exchange Board of India (where the entity is a listed entity); and
any other laws or regulations governing the business of the target entity.
Entities engaged in insurance business must follow additional norms regarding foreign investment as specified by the Insurance Regulatory and Development Authority of India (IRDAI). This article answers commonly asked questions in relation to foreign investment in insurers in light of the extant insurance statutory and regulatory framework.