To unravel the enigma behind India’s underutilized insurance sector, CAMSRep (CAMS Insurance Repository Services Limited), an insurance repository regulated by the Insurance Regulatory Development Authority of India (IRDAI), published a report titled ‘Why India isn’t claiming its Insurance?’ at the CIFIL Symposium on ‘The Path to Insure a Billion’ held…
Unit-Linked Insurance Plans (ULIPs) or Unit Linked Insurance Policy is a type of life insurance plan that offers a combination of life insurance protection and investment. ULIPS have gained popularity in India, attracting individuals who want both life insurance protection and wealth creation. What are ULIPs? ULIPs are a type…
Life insurance is an essential tool for financial security. In India, family is at the heart of our culture. Despite this, the penetration of life insurance is abysmal. “Life insurance penetration in India was 3.2 per cent in 2021,” says the Economic Survey 2022-23 (by the Indian government). “The penetration…
Financial planners recommend buying a health insurance cover of Rs 5-10 lakh or more. Get your health insurance as early as possible while you are still young to enjoy lower premium cost even when you grow old. Healthcare and medical expenses have become very expensive. In the event of a…
What is term insurance policy? Before we explore the meaning of term insurance, let’s understand what’s insurance. According to Oxford Dictionary, insurance is defined as: arrangement with a company in which you pay them regular amounts of money and they agree to pay the costs, for example, if you die…