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Insurance

The survey found 46% of Indians depend on personal research to make decisions about life insurance.
Updated : Mar 26, 2025

8 in 10 believe sub-10x income life cover is sufficient, finds survey

According to the survey, Indians overestimate their insurance coverage as 6.4 times their income, when in fact, it is only 3.1 times. It also revealed that one in three Indians has not reviewed their life insurance policy, even after significant life events such as marriage, childbirth, or an increase in income.

Star Health and Allied Insurance shares closed 3.29% down at Rs 347.25 on the BSE, while the 30-share Sensex ended the day flat at 78,017.19 points.
Updated : Mar 25, 2025

Star Health under IRDAI lens over claim settlement; insurer says routine process

This is a day after Star Health's receipt of 25 tax demand orders in multiple zonal offices across states such as Haryana, Delhi, Maharashtra, Tamil Nadu, Telangana, and Karnataka, various GST and Central Excise authorities issued orders totaling approximately Rs 49 crore, inclusive of penalties.

Sources tell Business Today TV that over the past two years (2022-24), FDI inflows into India's insurance sector have totalled Rs 82,000 crore.
Updated : Mar 25, 2025

Insurance Amendment Bill likely in Monsoon Session

The bill is expected to bring significant reforms to India's insurance sector, including raising the foreign direct investment (FDI) limit from 74% to 100% for companies that reinvest premiums within the country.

Urban areas see more claims due to higher population density and lifestyle diseases
Updated : Mar 22, 2025

Live in Delhi or Mumbai? You could be paying double for the same health cover

In India, insurers divide locations into risk-based zones, and your zone directly affects the price you pay for a health policy—even if the coverage remains the same.

Experts suggest a group term life insurance should be treated as just one part of your coverage, not your sole line of defence.
Updated : Mar 15, 2025

I have a group term life insurance plan. Will this be adequate to meet my family's financial needs?

A general guideline is having a life cover of at least 10 to 11 times your annual salary, but this can vary based on unique factors.

The proposed amendments are set to bring about transformative changes, impacting insurers, agents, and investors alike.
Updated : Mar 15, 2025

IRDAI prepares for landmark Insurance Amendment Bill with regulatory framework

The Insurance Amendment Bill, a significant reform for India's insurance sector, is set to be tabled in Parliament soon. IRDAI is drafting regulations to ensure a smooth implementation, focusing on 100% FDI and a composite insurance licence.

The Insurance Regulatory and Development Authority of India (IRDAI) has taken a mission-focused approach to make 'Insurance for All' a reality by 2047.
Updated : Mar 14, 2025

'Jio, LIC and now...': Insurance expert reacts to new players in general insurance sector

Patanjali Ayurved and DS Group, the maker of Rajnigandha, will purchase Magma General Insurance from Sanoti Properties LLP for a valuation of Rs 4,500 crore. 

The Ayushman Bharat scheme, having recently expanded in October 2024 to include all senior citizens aged 70 and above, now covers six crore senior citizens from 4.5 crore families.
Updated : Mar 12, 2025

Centre rejects 3.56 lakh fraudulent claims under Ayushman Bharat Scheme; check details

Union Minister of State for Health Prataprao Jadhav told the Rajya Sabha on Tuesday that de-empanelment of 1,114 hospitals have been taken against fraudulent entities as reported by the states and UTs under the Ayushman Bharat health insurance scheme.

The report noted 31% of India’s population still lacks health insurance due to low penetration and high costs.
Updated : Mar 12, 2025

88% of consumer complaints are due to insurance claims being rejected: Report

The report indicated that millennials, aged 25 to 38, are the most active group filing insurance complaints, accounting for 46% of all grievances.

Newborns' first ninety days of life are often covered by health insurance.
Updated : Mar 12, 2025

I am planning to start a family. I need information on how maternity and newborn coverage works in health insurance?

Health insurance policies with maternity benefits usually cover a variety of costs related to pregnancy and childbirth. To utilise these benefits, it is important to purchase the policy well in advance of conception due to the typical waiting period, which can range from nine months to four years.

According to insurance companies, the primary cause for price hikes in health insurance premiums is the increase in claims.
Updated : Mar 12, 2025

'Rs 1 cr health cover may NOT...': Insurance expert on rising health insurance costs 

In the last decade, a majority of policyholders witnessed their premiums increase by 5-10% annually. This resulted in their Rs 100 premium growing to Rs 162-259 over the span of 10 years.

While some insurers have stepped up with innovative offerings, others continue to push out products with limited benefits.
Updated : Mar 11, 2025

'The biggest reason why...': Zerodha's Nithin Kamath explains why life insurance baffles Indians

Kamath’s concern isn’t unfounded. Underwriting , the process insurers use to assess applicants, has become more rigorous than ever.

Unexpected events, such as accidents, illnesses, medical emergencies, can occur without warning. Failure to obtain life insurance promptly may result in your family being unprotected during crucial times.
Updated : Mar 08, 2025

Protecting what matters: Why women should prioritise life insurance

It is crucial to start securing your financial future as soon as possible, and selecting the appropriate plan is the initial step. Various types of life insurance plans are available to meet your specific needs.

According to Policybazaar, a higher number of women are choosing term insurance, which has gone up by 18% in the current fiscal year.
Updated : Mar 07, 2025

44% of women are opting for term insurance of Rs 1 crore or more: Report

Indian women are increasingly investing in insurance and retirement plans, with notable growth in term insurance ownership, driven by educational empowerment and workforce participation.

A Travel Insurance policy can provide support during critical medical emergencies, unforeseen trip cancellations, and other unforeseen circumstances.
Updated : Mar 07, 2025

International Women’s Day: Why travel insurance is a must for solo women travellers

For female solo travelers, travel insurance can serve as a valuable companion when preparing for your journey. It can serve as a trusted backup for various situations, not just limited to lost baggage or delayed flights.

Leading insurance companies are working relentlessly to design products that cater to the emerging needs of Indian women.
Updated : Mar 07, 2025

Need for Indian women to prioritise self-care and financial security

While women continue to break barriers and achieve financial independence, the pressure of multitasking and maintaining a work-life balance often leads to stress and fatigue, impacting their physical and mental well-being.

ICICI Pru GIFT Select allows customers to safeguard their financial savings from market fluctuations and successfully reach their financial objectives.
Updated : Mar 04, 2025

ICICI Prudential Life floats income guarantee product, inflation-adjusted returns for volatile times; how will it work

ICICI Prudential Life Insurance launches ICICI Pru GIFT Select, offering guaranteed immediate income and inflation-adjusted returns to help manage market volatility.

The introduction of this AQI-based insurance policy comes at a critical time for Delhi NCR, a region frequently grappling with hazardous air pollution levels that disrupt daily life and economic activities.
Updated : Feb 25, 2025

Go Digit floats AQI-based insurance policy for Delhi-NCR construction workers

Go Digit General Insurance, in collaboration with KM Dastur Reinsurance Brokers, launches an innovative AQI-based parametric insurance policy to support migrant construction workers in Delhi NCR during pollution-induced construction bans, offering payouts of up to Rs 6,000.

According to GlobalData, the health insurance market is expected to reach Rs 2 lakh crore ($23.8 billion) by 2028, with medical inflation currently at 14%.
Updated : Feb 25, 2025

Health insurance: Policy premium goes up 73% since 2020, total insurance sum assured up 240% 

A recent report from insurtech platform Turtlemint has revealed the premium per policy in Tier 2 and Tier 3 cities has seen a remarkable 73% increase since 2020, demonstrating consumers' growing willingness to invest in more extensive health coverage. 

When customers apply for an insurance policy, they have the option to choose Bima-ASBA, allowing their bank to block the premium amount.
Updated : Feb 25, 2025

Bima-ASBA Facility: You can use this feature while purchasing Bajaj Allianz Life policies; check details

Bima-ASBA offers policyholders the option to utilise UPI's One-Time Mandate (OTM), which allows them to authorise the reservation of a designated amount, up to Rs 2 lakh, in their bank account. The reserved amount is only deducted once the insurance company completes the underwriting process and approves the policy proposal. 

Under the programme, recipients will be provided with health insurance coverage of Rs 10 lakh, with the central government and the Delhi government each contributing Rs 5 lakh.
Updated : Feb 21, 2025

Ayushman Bharat Scheme in Delhi: CM Rekha Gupta gives nod to rollout of scheme; check eligibility, details 

The previous AAP government in Delhi, during its 10-year tenure, chose not to implement the Ayushman Bharat Scheme, citing the existence of the Delhi Arogya Kosh which provides free treatment to Delhi residents.

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