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Irdai reduces pre-existing disease waiting period from 4 to 3 years: Here is what existing policyholders should know

While the waiting period for pre-existing disease (PED) coverage in health insurance policies has been reduced from four years to a compulsory three years, the moratorium period has been shortened from 96 to 60 months.

Siddharth-singhal , Rahulm-mishra , Health-insurance-at-policybazaar , Health-insurance , Development-authority , Insurance-regulatory , Policy-ensure , Business-head , Insurance-products , Irdai , Re-existing-disease , Aiting-period

Our business from policies above Rs 5 lakh is down by 10%: Kamlesh Rao, Aditya Birla Sun Life Insurance

"The business from policies with premiums higher than Rs 5 lakh is down by an absolute 10%. The number of policies has grown by 20% and we have lost the contribution from plans above Rs 5 lakh by 10%. So, our business for the first nine months was 10%," said Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance.

India , Kamlesh-rao , Bima-vistaar , Aditya-birla-sun , Aditya-birla-sun-life-insurance , Policies , Life-insurance , Insurance-policy , Annuity-products , Premium , Annuity

Bima Sugam Platform Approved: Know What Is This Govt-backed Online Insurance Platform

IRDAI has also notified a host of regulations, including on surrender charges wherein insurers have to disclose such charges upfront.

India , Bima-sugam , Development-authority-of-india , Insurance-regulatory , Development-authority , Bima-sugam- , Insurance-electronic-marketplace , Digital-public-infrastructure , Insurance-electronic-marketplace- , Companies-act , Insurance-products , Irdai-bima-sugam-portal

Life insurance: IRDAI retracts on low surrender value proposal; know applicable surrender charges from April 1, 2024

The Insurance Regulatory and Development Authority of India (IRDAI) has finalised surrender charges for non-linked or linked life insurance products — traditional endowment policies. The charges will come into effect from April 1, 2024. This decision by IRDAI maintains the status quo on surrender values, meaning minimal change from existing charges. While this benefits life insurance companies, it offers little relief for policyholders seeking more flexibility with their policies.

India , Monika-halan , Abhishek-kumar , Ravi-saraogi , Vishal-dhawan , Development-authority-of-india , Education-fund , Insurance-regulatory , Development-authority , Insurance-products , Emkay-global , Gazette-notification

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Bengaluru , Karnataka , India , Emkay-global-financial-services , Development-authority-of-india , Insurance-regulatory , Development-authority , Insurance-products , Emkay-global-financial ,

IRDAI issues series of regulations, tweaks regulation on surrender charges

IRDAI (Insurance Products) Regulations, 2024 merge six regulations into a unified framework aimed at enabling insurers to swiftly respond to evolving market demands, enhancing the ease of conducting business, and boosting insurance penetration. These regulations promote good governance in product design and pricing, including strengthening the principles governing guaranteed surrender value & special surrender value along with disclosures thereof, IRDAI said in a statement.

India , Motor-third-party-obligations , Development-authority-of-india , Motor-third-party-obligations-regulations , Insurance-products , Insurance-regulatory , Development-authority , Social-sector , Insurance-act , Gram-panchayat , Foreign-reinsurers-branches

IRDAI Approves 8 Principle-based Consolidated Regulations, including Setting Up Bima Sugam e-Marketplace

The Insurance Regulatory and Development Authority of India (IRDAI) has approved eight principle-based consolidated regulations, including setting up the insurance e-marketplace Bima Sugam for buying, selling, and servicing insurance policies, and settling claims.

Bima-sugam , Development-authority-of-india , Emkay-global-financial-services , Motor-third-party-obligations-regulations , Insurance-regulatory , Development-authority , Insurance-products , Social-sector , Motor-third-party-obligations , Emkay-global , Mutual-fund-returns , Ank-fixed-deposits

Are You Charitably Inclined And Interested In Making Your Donation To A Qualified Charity More Tax Efficient?

Gift long-term appreciated taxable positions rather than giving cash when making donations to qualified charities.

New-york , United-states , Government-agency , Adjusted-gross-income , Insurance-products , Any-federal-government , Apple ,

IRDAI approves 8 principle-based regulations

The IRDAI (Bima Sugam - Insurance Electronic Marketplace) Regulations, 2024, aims to establish a digital public infrastructure named Bima Sugam towards universalization and democratization of insurance as well as empowering and safeguarding policyholders' interests and achieve the vision of "Insurance for all by 2047”, IRDAI said.

India , Bima-sugam , Under-motor , Insurance-electronic-marketplace , Corporate-governance , Insurance-products , Foreign-reinsurers-branches , Irdai , Rdai-board-meeting , Rdai-clears-regulatory-changes , Egulatory-body-approval

IRDAI Revamps Regulations, Announces Bima Sugam Platform for Robust Insurance Market

IRDAI Revamps Regulations, Announces Bima Sugam Platform for Robust Insurance Market
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New-delhi , Delhi , India , Bima-sugam , Product-development , Development-authority-of-india , Galaxy-health , Health-insurance-options , Insurance-regulatory , Development-authority , Streamlined-regulations , Policyholder-interests