Page-2 of Life Insurance Current Affairs, GK & News

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 ..

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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 ..

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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 ..

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What is the meaning of Conditional Assignment?

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 ..

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What is Annualized Premium Equivalent?

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 ..

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