Insurance News

Third party insurance for car: Here is why you should worry if you don’t have comprehensive policy A majority of people in India rely only on third party motor insurance and do not go for a comprehensive cover. This may, however, cost them dearly. Here's why. According to the Motor Vehicles Act 1988, it is mandatory to have a Third-Party Motor Insurance for your vehicle in India. While Third Party Insurance is mandatory, a Comprehensive Insurance policy is not. Moreover, a Comprehensive policy — which comprises of two major components, Third Party cover and Own Damage cover – is always higher priced than a Third Party insurance cover. This explains why a majority of people in India rely only on Third Party Insurance and do not go for a Comprehensive cover. However, why is a Comprehensive Insurance policy essential? That’s because there are certain important things which a Third Party Motor Insurance policy does not cover. Let’s understand Third Party Insurance a bit mo...

SBI Life launches term policy with health cover Private life insurance company SBI Life today announced the launch of a term policy with critical illness cover for 36 diseases. Private life insurance company SBI Life today announced the launch of a term policy with critical illness cover for 36 diseases. The critical illness cover increases as the term of the policy progresses over the years. President for eastern, central and north-eastern region of SBI Life, Ravindra Kumar said the policy, SBI Life Poorna Suraksha, was aimed at the initial years of a person’s life, the liabilities were higher and decreases as years progress. Briefing reporters here today, he said the policy had a re-balancing feature with the proportion of life cover progressively decrease and vice versa the critical illness cover. During the first half of the current fiscal, SBI Life’s total premium income was Rs 9248 crore, including new business premium of Rs 4288 crore. Kumar said, this was a growth ...

Auto Expo 2018 has big push for electric vehicles, cars. But, what about their insurance in India? Auto Expo 2018: Automakers are shifting their focus to electric vehicles, a glimpse of which is being witnessed at the ongoing Auto Expo 2018 in Greater Noida. However, apart from price, you also need to know how electric vehicles, cars are insured in India. Auto Expo 2018: With the Modi government keen on making India a 100% electric vehicle nation by 2030, automakers too are shifting their focus to electric vehicles, a glimpse of which is being witnessed at the ongoing Auto Expo 2018 in Greater Noida. In fact, while dozens of electric cars are being showcased by auto majors here, many have even forged new partnerships in a bid to introduce electric cars over the next few years. Experts say that the demand for electric vehicles (EVs) is increasing day by day and it will continue to grow faster in the years to come, driven by stricter emission norms and growing consumer awa...

Term insurance plan: 6 things to keep in mind while buying one The demand for term insurance is increasing day by day as it acts as a financial support to your family in your absence. However, you must keep a few things in mind before opting for a plan. Term insurance is one of the most in-demand and popular insurance plans today. The demand for term insurance is increasing day by day as it acts as a financial support to your family in your absence. In case of your unfortunate demise, the insurance company pays out the corpus to your family to take care of their expenses and to cover up any unpaid loans or liabilities left behind. But some people refrain from investing in a term plan as there is no return in case of their survival and the family does not gain anything. However, one must look at the bigger picture here and the motive should be to protect your loved ones after you and to cover up their day-to-day expenses. This is the biggest investment you can make to pro...