InsuranceLiterature – Page 5 – Learn Insurance Easy Way

Life, health, property insurance bundled in one product

The Insurance Regulatory and Development Authority of India (IRDAI) has reportedly set the pricing for ‘Bima Vistaar,’ a comprehensive insurance product covering life, health, accidental damage, and property. Priced at Rs 1,500 per policy, it targets residents in rural areas of the country. Click below link to read the news – https://www.google.com/amp/s/www.financialexpress.com/money/bima-vistaar-priced-at-rs-1500-life-health-property-insurance-bundled-in-one-product-know-full-features-and-benefits-3474048/lite

Benefits of buying a Two Wheeler Insurance policy for longer period

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Though bikes & scooter are most popular mode of transport in developing county like India, the recent studies has shown that, almost 60% of Two-wheeler owners plying their vehicles on the Indian roads do not get their vehicles insured. It is often seen that customers have a reluctance to renew their Two wheeler insurance policy … Read more

Ideal health insurance coverage for families living in metro cities

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Insuranceliterature.in ideal health insurance

The cost of medical treatments and related expenses are ever increasing. One should ensure that no member of the family is left uncovered facing health risks and the health insurance cover should at least be reviewed once in a period of three to five years especially if you are staying in Metro cities where the … Read more

IRDAI shortens waiting period

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Please click below link to read full news: https://www.timesnownews.com/business-economy/personal-finance/health-insurance-evolution-irdai-shortens-waiting-periods-boosts-benefits-all-you-need-to-know-article-109470635

No age bar while purchasing insurance: IRDAI

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In the past, insurance eligibility was limited to individuals under 65 years old, leaving many senior citizens, who typically require healthcare the most, without coverage. However, with the removal of this age restriction, even the elderly can now access cashless insurance benefits, although premiums for this demographic might be higher. This policy shift is poised to significantly assist those in need of medical insurance, encompassing children, maternity cases, and senior citizens, thereby fostering healthier lives for numerous individuals. It represents a commendable step that aligns with public interests, enhances the longevity and well-being of our citizens, and advances comprehensive insurance coverage.

Click below link to read the complete news:

https://www.thehindu.com/sci-tech/health/irdai-decision-to-remove-age-bar-on-health-insurance-purchases-will-improve-access-for-seniors-hospitals-say/article68087788.ece

IC 46 General Insurance Account’s preparation & Regulations of Investments – Study Tips

by InsuranceLiterature

This article provides insights of the subject for the candidates appearing for Associateship (Non-Life) examination conducted by Insurance Institute of India. This exam basically deals with financial accounting and investment regulations. With regards to financial accounting; candidates appearing for the IC 46 examination should be well versed with scope, concepts, principles & standards of accounting. … Read more

Compliance of Insurance regulations – Things you need to know

by InsuranceLiterature

Insurance companies in India are regulated by the Insurance Regulatory & Development Authority of India (IRDAI). One of the main objectives of IRDAI is to protect the interest of the policyholders, i.e. the customers of insurance companies who end up buying insurance policies for consideration of money termed as premium. IRDAI strives to ensure that … Read more

CLEAN CUT & UNDERWRITING YEAR ACCOUTING – REINSURANCE

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Underwriting year basis accounting usually helps in recovering the losses which occur on a specific policy during the period of treaty. The claims are recovered from the reinsurer who received the premium of that particular original policy this accounting method will be best suitable for the following classes of business. Classes of Business Suitable for … Read more

Flight Delays due to Bad Weather conditions are compensated by Travel Insurance policies

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Bad weather conditions may lead to flight delays due to which travellers are not able to fly on time. With the monsoon all set to begin, flight delays due to bad weather conditions are expected to rise. Severe weather conditions keep the passengers stranded on airports though all possible measures are taken by airlines to … Read more

Zero Depreciation Add On Cover in Motor Insurance

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Want to get Full Insurance – Full claim amount for your Motor Vehicle? – Consider opting Zero dep Add On. If you are worried about paying the part payment amount for the motor claim then you should consider buying the Motor Add On, which takes care of your out of pocket expenses. In a comprehensive … Read more