Country’s largest insurer, Life Insurance Corporation (LIC), today said it has crossed the Rs 1,000 crore-mark from its two new unit-linked plans, which were launched after the latest guidelines of the sectoral regulator IRDA took effect last month. “Life Insurance Corporation of India has crossed the Rs 1,000 crore mark under the new ULIP plans, [...]
Archive for the ‘General Information’ Category
Posted in 
New policy premium halves post unit-linked products new guidelines
Posted by admin on October 21st, 2010
Life insurers saw premium from sales of new policies decline by half during September 2010 against the previous month. The first premium income (FPI) figures for September assume significance as it was from this month that new guidelines for unit-linked products – the main source premium income for all life insurers – became effective. Data [...]
C Rangarajan: Diesel prices should be deregulated soon
Posted by admin on October 21st, 2010
Prime Minister’s economic advisory panel has said that diesel prices should be freed from government control ‘as early as possible’; a suggestion if accepted will lead to a price hike of Rs 2.87 per litre. “I think the sooner it (deregulation of diesel prices) is done the better. . . I think it should be [...]
Govt likely to net Rs 59,000 crore through divestment
Posted by admin on October 20th, 2010
The government is set to beat its target of Rs 40,000 crore from divesting stake in public sector companies. The first half of the financial year saw the government raise a little over Rs 2,000 crore from stake sales in Sutluj Jal Vidyut Nigam and Engineers India Ltd. But it will raise nearly Rs 22,000 [...]
Now IRDA gets ULIPS vetted through life insurance and investment department
Posted by admin on October 20th, 2010
The insurance regulator is being doubly wary of innovation in life insurance and is now clearing products at two additional levels. Unlike in the past, when it was largely the actuarial department which looked at new products, Irda is running products through its life insurance and investment department as well. The caution appears to stem [...]
What is insurable interest?
Posted by admin on October 20th, 2010
Did you know you can’t buy insurance for just anyone… or a cover for an asset owned by someone? For example, an individual’s application to insure his cousin’s life was rejected. Insurance companies cited “lack of insurable interest” as a reason for rejecting the application. Insurable interest is one of the key principles of insurance. [...]
