IRDA organized seminars for mass awareness

By Policybachat. Posted on November 5, 2014

IRDA has been constituted as a sovereign body to control and develop insurance sector in India.  It came into existence in 1999 and was commissioned as statutory body in 2000.  Since then it is committed in regulating insurance policies and safeguarding customer’s interest in an insurance agreement. In these years, IRDA took additional responsibilities of […]

Are Senior Citizens eligible for Term Life Insurance Policies?

By Policybachat. Posted on October 31, 2014

Once you cross the age of 50, getting a life insurance on your name becomes a real tough job. Many insurance companies show reluctance in working with a senior citizen because the remaining span of their life becomes short. They do not want to work with very old persons due to numerous age-related diseases and […]

Gift Your Child A Secured Future

By Policybachat. Posted on October 30, 2014

Child Life Insurance Plans are the best way to secure your child’s future. Providing all the necessities for your child’s well-being and a good upbringing have become a daunting task in today’s world due to ever-increasing expenses. Hence planning the unforeseen in very important. A Child insurance policy will take care of all their basic […]

MANAGING ULIPs

By Policybachat. Posted on October 30, 2014

More is always better! What if we get the benefit of a life insurance cover as well as the opportunity to invest into market equities by purchasing just a single hybrid plan? That is exactly what a Unit Linked Insurance Plan or ULIP offers you. The premium that you pay towards the policy is divided […]

IRDA creates monitoring body to nurse insurance grievances.

By Policybachat. Posted on October 30, 2014

Insurance regulatory and Development Authority (IRDA), being the apex regulatory institution for the insurance sector, have devised an Integrated Grievance Management System (IGMS) in an effort to take up customer grievances and issues faced by them on a serious note. According to IRDA, customer satisfaction should be given utmost importance as it is a major […]

Tata AIG plans newer strategies to increase profit!

By Policybachat. Posted on October 29, 2014

A top official from Tata AIG General Insurance expressed his views on the proposal to double the exemptions in the investment limits to Rs. 2 lakhs to be presented in the forthcoming budget. According to him, this can stimulate the scope of growth in the insurance sector and also can give relief to the people. […]

Reasons Why Settlement Claims Get Rejected

By Policybachat. Posted on October 29, 2014

To know about the reasons for which your claims might get rejected, it is important to have a clear idea about what a claim settlement ratio is. It refers to the total number of death claims settled by an insurance company. The calculation is done by dividing the total number of death claims received by […]

Enormous losses by Cyclone HudHud: Insurance claims shoot sky-high

By Policybachat. Posted on October 28, 2014

Insurance companies have started being poured with claims from the coastal areas of Vishakapatnam and Odisha after it was struck by cyclone Hudhud on October 12, 2014, leading to massive losses in lives and properties from that area. The claims are likely to cross an INR 4000 crore margin. The largest numbers of claims are […]

IRDA Cautions Insurance Holders Against Potential Fraud

By Policybachat. Posted on October 28, 2014

There is a growing concern among the Insurance industry about the increasing number of incidences of fraud and abuse. It’s a matter of concern that insurance fraud has not been defined under the Indian Insurance Act, neither legal instrument like Indian Penal Code (IPC) offers any law to curb such frauds. In absence of appropriate […]

Some facts of insurance awareness survey

By Policybachat. Posted on October 17, 2014

Insurance Regulatory and Development Authority (IRDA) employed National Council of Applied Economic Research (NCAER) for conducting insurance awareness survey. This survey was carried out in 29 states/union territories of India in 2011. This survey was conducted to study the insurance awareness among various demographic categories in different socio economic societies of India. The survey has […]