Insurance

IRDA and its role

What is IRDA and its role? Exam and Certification!

Overview of IRDA Established by the Insurance Regulatory and Development Authority Act, 1999, the Insurance Regulatory and Development Authority of India (IRDA) is a statutory agency. Its main goal is to promote and regulate India’s insurance sector. In addition to fostering fair competition and ensuring the financial soundness of insurance businesses, IRDA safeguards the interests …

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What is Air Cargo Insurance and It’s Benefits

What is Air Cargo Insurance and It’s Benefits?

A specific kind of insurance known as “air cargo insurance” covers items lost, damaged, or stolen while being transported by air. It provides shippers and cargo owners with protection against a range of hazards that could occur when shipping cargo via air carriers. This type of insurance is essential considering the particular difficulties and risks …

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Types of Pet Insurance

Types of Pet Insurance?

Certainly, Pet insurance can be categorized into several types to accommodate different requirements and financial considerations. These categories include: 1. Accident Only Coverage- This basic insurance option primarily handles expenses related to injuries resulting from accidents, like fractures or incidents involving vehicles. It is a budget-friendly choice but doesn’t extend to illnesses. 2. Accident and …

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What is Pet Insurance and How Does It Work

What is Pet Insurance and How Does It Work?

Pet insurance is a financial service tailored to assist in covering the expenses associated with medical care for pets, including dogs, cats, and, sometimes, exotic animals, much like how human health insurance operates. It offers a safety net for pet owners by helping manage the often-significant costs related to unforeseen veterinary treatments or routine check-ups. …

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Life Insurance Policy Need An Accidental Death Benefit

Does Your Life Insurance Policy Need An Accidental Death Benefit Rider?

Life insurance is a crucial financial tool that provides peace of mind and financial security to your loved ones in the event of your untimely demise. While traditional life insurance policies offer a straightforward death benefit, some individuals may wonder whether they should add an accidental death benefit rider to their policy. In this discussion, …

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LIC Dhan Vriddhi Plan

LIC Launches Dhan Vriddhi Plan for Single Premium Life Assured

The new plan that LIC launched 23.06.2023 is a close-ended single premium plan (869) with combination of protection and savings. The policy conveys assured returns in case of unfortunate death of the life assured. It is a Non-linked, non-participating, individual savings plan. Thus, it guarantees no future premium or no lapsation option after the death …

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Indian Insurance Industry

Indian Insurance Industry Grows to Rs. 59 Lakh Crore

The Indian insurance industry has grown significantly over the years, and according to the insurance regulatory development authority of India it is now worth Rs. 59 lakh crore. The industry consists of several public and private insurance companies offering a wide range of ancient insurance policies such as life insurance, health insurance, motor insurance, travel …

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Difference Between ULIP and Mutual Fund

Difference Between ULIP and Mutual Fund

Introduction A Unit Linked Insurance Plan or ULIP and Mutual Funds are the two most popular investment vehicles that people invest to generate wealth in India. While both of them offer the potential wealth for capital gains, there are some core differences between, that need to be acknowledged. In this article, we will see the …

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IRDAI Launches Direct Insurance Options

IRDAI’s New Direct Plans for Increases Choice and Lower Costs

The Insurance Regulatory and Development Authority of India (IRDAI) has introduced direct plans in the insurance sector. The aim of these processes is to offer more choices to customers and increase transparency in the market. Direct plans will enable customers to buy insurance policies directly from insurers, even without the intervention of intermediaries such as …

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