Life Insurance: GK, Current Affairs, Questions, Trivia and News

Flipkart partners with Aegon Life Insurance to sell life insurance solutions

E-commerce firm Flipkart recently partnered with Aegon Life Insurance, to sell wide-ranging insurance solutions. It aims to provide solutions for customers who are looking for instant digital policies with a sum assured of up to Rs 10 lakh. This agreement is aimed at making life insurance available to customers in a convenient and transparent manner.  

Bajaj Allianz unveils Total Health Secure Goal Plan

Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance has collaborated to launch their first product ‘Total Health Secure Goal’. This new insurance product is a combination of two existing plans – Health Guard policy by Bajaj Allianz General Insurance, and iSecure from Bajaj Allianz Life Insurance. A customer can choose the option between a ..

LIC launches a new micro insurance plan “Micro Bachat”

Life Insurance Corporation (LIC) has recently launched a new micro insurance plan ‘Micro Bachat’. It is a regular premium, non-linked, participating endowment micro insurance plan, which offers a combination of protection and savings. For the first time, a micro insurance plan has been launched providing coverage up to Rs 2 lakh. This plan provides financial ..

West Bengal government launches Krishak Bandhu scheme to address farmers distress

The West Bengal government has launched Krishak Bandhu scheme to provide financial assistance to farmers and landless labourers. The state government will give an annual financial assistance (cash dole) of Rs 5,000 per acre in two instalments – one during kharif and another during rabi – for a single crop. Farmers can take the financial ..

India Post Payments Bank ties up with Bajaj Allianz Life Insurance to provide insurance to all

India Post Payments Bank (IPPB) has tied up with private life insurer Bajaj Allianz Life Insurance Co Ltd (BALIC) to provide life insurance solutions, especially at the doorstep of every household in the country. With this partnership, IPPB customers across segments can access a wide array of simple yet value-rich life insurance products and services. ..

Telangana announces a unique scheme to provide life insurance of up to Rs 5 lakh per farmer in state

The Telangana government has announced a unique life insurance scheme for farmers. Under the scheme, the government will provide life insurance facility of Rs 5 lakh to the nominee, after the death of the insured farmer. The entire premium will be paid by the government to the insurance agency and the nominee will get the ..

Claim Ratio under National Health Protection Mission

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 ..

What is the meaning of Contingent Beneficiary?

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 ..