Pradhan Mantri Fasal Bima Yojana (PMFBY) is a crop insurance scheme launched by Prime Minister Narendra Modi for farmers for their fields. The PMFBY aims to improve the safety of crops and to ensure that the maximum benefit of crop… Continue Reading
On July 06, 2022, The Insurance Regulatory and Development Authority of India (IRDAI), in its press release, permitted all general insurance companies to introduce the following tech-enabled concepts as add-ons for the Own Damage (OD) motor insurance cover: Pay as… Continue Reading
Good News: IRDAI plans to move insurance from paper to digital. It has mandated the dematerialisation of insurance policies by this year. All the new insurance policies will have to be compulsorily issued in dematerialised (demat) form. December 2023 has… Continue Reading
Recently GST Council decided to levy 5% GST on hospital rooms where per day room rent is over Rs. 5000. However, intensive care units are excluded from such a tax. Here, the question arises, will the insurance company cover such… Continue Reading
Tata Sons chairman Cyrus Mistry was sitting in the back seat without a seat belt when he died in a tragic road accident. Mistry’s demise has raised serious concerns about road safety. Following the incident, Union Minister of Road Transport… Continue Reading
IRDAI (Insurance Regulatory and Development Authority) never sells an insurance policy. It is a regulatory body created to protect the interest of policyholders, to regulate, promote and ensure the growth of the insurance industry in India. However, it has come… Continue Reading
It has been observed that existing policyholders receive calls from people who claim to be IRDAI officials and mis-sell insurance policies. These callers inform the policyholders that the premium of their policy has fraudulently been transferred to someone else. To… Continue Reading
A number of cases are reported where policyholders receive fictitious calls notifying them that their survival benefit or maturity proceeds are due (under their existing policy). They also inform that it is mandatory to invest in a new insurance policy… Continue Reading
We know that our health plays a very important role when we apply for a life insurance policy. Similarly, there are some hobbies that could lead to higher premium charges or even denial of a policy. Reading, gardening or playing… Continue Reading
There are fraud gangs who call the general public as insurance agents and convince them to surrender their existing insurance policy and misguide them to buy another insurance policy from them. Never get trapped by such fake insurance phone calls. … Continue Reading