These modifications follow the Insurance Regulatory and Development Authority of India’s (Irdai) master circular on life insurance products (Insurance Products Regulations, 2024). Key changes include reducing the entry age to buy an endowment plan to 50 years from 55. The minimum basic sum assured has been increased to ₹2 lakh from ₹1 lakh with an … Read more
Right outside Fernandes’s home is a poster of a woman who passed away recently. It grabs his attention each time he opens his gate. His eyes are then drawn to one of his favourite possessions, his bicycle, long unused, which reminds him of happier days. Now, he can barely pick up his phone without using … Read more
Insurance acts like a safety net, helping protect you and your family from unexpected situations that can cause financial stress. Whether it’s a car accident, a health emergency, damage to your home, or losing a primary earner, having the right insurance can ease your financial burden, allowing you to focus on getting back on your … Read more
NEW DELHI : Insurance is the first step towards financial planning. We buy policies to insure ourselves against unfortunate events. However, having insurance does not always guarantee protection. Claim requests are often rejected, citing non-disclosure of pre-existing diseases, lifestyle habits, or having multiple policies. Most of the time, policyholders are caught unawares as it’s an … Read more
How can I buy an insurance for my phone? What would be covered under phone insurance? —Name withheld on request. You can buy portable equipment insurance for your mobile phones, laptops or personal portable devices. Such insurance is generally an all-risk policy. It would cover any accidental damage to the device including breakage, short-circuit and … Read more
Mothers, be it working professions or homemakers, are the unsung heroes of many households. The working mother adeptly manages both professional commitments and familial duties with grace and resilience while the homemaker juggles varying responsibilities within the home to ensure that their families are taken care off. They serve as pillars of strength, providing unwavering … Read more
I am 28 and earning ₹6 lakh annually. I have term insurance of ₹60 lakh. I also have health insurance of a family floater of ₹5 lakh covering me, my wife and our 3-year-old daughter). Now, I came to know about critical illness insurance. Which aspect should I take care of while purchasing critical illness insurance? … Read more
As millennials, it’s commonplace for us to prioritise our personal financial aspirations. However, amidst our pursuits, we must recognize the financial security of our younger siblings, who may still need to gain the maturity or resources to secure their own financial futures. Rather than solely indulging in fleeting pleasures like gadgets or social outings, we … Read more
Experts guide these strained souls on how to manage their finances to care for their parents, support their kids and tide over for themselves too. “Generation S or the Sandwich Generation is perhaps living in the most precarious of financial conditions; as they are encumbered with taking care of their ageing parents, and children. Another … Read more
The document, named “Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests and Allied Matters of Insurers) Regulations, 2024″, brings together eight separate regulations into a unified and comprehensive framework. Extended free-look period The free-look period for reviewing policies will be extended to 30 days from the date of receiving the policy document, … Read more