Claim ratio is calculated as the total value of all claims paid by the company divided by the total amount of premium collected in a financial year. A claim ratio of 75-90 is usually thought to be an indicator of a robust claim settlement system by an insurer. National health protection mission and claim ratio ..
Topic: Life Insurance
We found 7 articles, news, questions and current affairs about Life Insurance.
A Contingent Beneficiary is someone as specified by the insurance policy who will receive the benefits of the same if the primary beneficiary is either deceased, cannot be located or simply refuses the inheritance when the proceeds of the insurance are to be paid. A Contingent beneficiary can be a person, organization, estates, charities, trusts ..
Conditional Assignment refers to the way by which an assignor i.e. life insurance policyholder can transfer policy rights to the assignee as per the terms and conditions. As per conditional assignment, the assignor gets back the policy rights if he/she fulfils all the criteria under which the policy was initially transferred. On the contrary, only ..
Annualized Premium Equivalent is a commonly used measure to determine the business sales in life insurance field. It is computed by the sum of regular annualised premium which came from new business and 10% of the first standalone premium over the same stated period. The premium so earned by the firms can be extended to ..
Accidental death benefit or dismemberment is the extra benefit which is being given to the policyholder in case of his death due to an accident. The benefit of dismemberment is even paid in case of death of the insured person or the latter loses his limbs or his sight during the accident. Furthermore, in case ..
New India Assurance chairman M Ramadoss has been suspended by the Government for for alleged violations in issuing insurance cover to an airline during his stint as head of another state-run insurer. This is the second instance of action being taken against a head of a public sector insurance firm. Earlier, TS Vijayan, the chairman ..
Recently, India’s market watchdog SEBI banned 14 insurance companies from raising funds from ULIPs, stating that they have not registered their product with SEBI, so they can’t issue new ULIPs. The companies affected were: Aegon Religare, Aviva , Bajaj Allianz, Bharti AXA, Birla Sun Life, HDFC Standard Life, ICICI Prudential, ING Vyasa, Kotak Mahindra Old ..