On Wednesday, the Finance Minister Mr. Pranab Mukherjee had a discussion with the board of Insurance and Regulatory Development Authority (IRDA) on various issues like cutthroat competition among the insurers, mis-selling of policies and promotion of online policies.

In the private sector, life insurance companies have started selling policies through the internet. A customer can purchase a pure online term insurance policy by visiting the respective insurer’s website and pay the premium...  Read More »

Aegon Religare Life Insurance Company has launched a new child insurance plan ‘Educare’, with the objective to provide a secured savings platform to meet higher education expenses. 

'Educare' is traditional life insurance plan which provides guaranteed payouts during the last 4 years equivalent to a total of 120% of the Sum Assured. In the last 4 years of the policy term, 50%, 25%, 25% and 20% of Sum Assured shall be paid respectively. On maturity, bonuses shall also be paid by the company.
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DLF Pramerica Life Insurance Company (DPLI), a joint venture between DLF Limited and Prudential International Insurance Holdings a subsidiary of US based Prudential Financial, plans to tap the child insurance segment in the country.

To achieve this, the company will focus on its school education protection plan – Shiksha Uday. Shiskha Uday was first launched in Delhi NCR as a pilot plan in January. DPLI will now extend it to other cities as well in a phased manner.

Sujata Dutta,...  Read More »

Kotak Life Insurance has introduced two new child plans ‘Child Edu Plan’ and ‘Child Future Plan’ to help parents make financial arrangements in advance for their child’s future needs.

Kotak Child Edu Plan is tailor-made for children up to 10 years of age, while Kotak Child Future Plan is designed for children between 11 to 15 years of age.

Features of Kotak Child Edu Plan:

.Defined benefits – ‘Edu Boosters’ at ages 15, 17, 19 and 21 years
.On Maturity, 60% of Sum Assured + Bonus is...  Read More »

Aviva Life Insurance has announced the name of 5 lucky winners of its nationwide contest ‘Aviva Young Scholar Hunt’. The contest, which started in June this year, was part of their new campaign to give five winners from India a chance to visit the prestigious Oxford University in UK. Aviva has sponsored an all expenses paid trip for the winners who will travel along with one parent and get the opportunity to meet the legendary Sachin Tendulkar.

Aviva Life Insurance Company, a joint venture...  Read More »

Private Insurance Company Aviva India has launched a new campaign that will give 5 winners across the country a chance to meet Sachin Tendulkar through an all expenses paid trip to the UK along with one parent. In addition they will also get to visit the prestigious Oxford University – one the premier educational institutes of the world.

The nationwide contest is titled 'Aviva Young Scholar Hunt' which is in association with POGO channel for kids. Prateek Sethi hosts a show called ‘F.A.Q’ on...  Read More »