Home News
Top Court To Hear Case Against LIC For "Duping" 5 Crore Policy Holders
Friday, July 5, 2019, 9:35 AM
A non-profit organization engaged in promoting financial literacy has moved the Supreme Court, alleging cheating, especially of senior citizens, by the LIC through its Jeevan Saral policy, in which nearly 5 crore policy holders have "lost a big chunk on their principal investment". The Mumbai-based Moneylife Foundation said it has received several complaints from policy holders, especially senior citizens, in the past few years.
Ease G-Sec rule for insurance companies: IRDAI panel
Monday, December 18, 2017, 1:09 PM
A panel constituted by the Insurance Regulatory and Development Authority of India (IRDAI) has called for reviewing norms that require 50% of the funds mobilized from traditional life policies to be invested in government bonds. According to the panel's report, the restriction on investments does not permit life companies to generate a return of even 8% in traditional policies given the drop in yields on government bonds.
Life Insurance Schemes Might Fetch Better Returns In Future
Monday, December 18, 2017, 7:54 AM
Life insurance schemes might offer better returns from next-year if the recommendations of IRDAI-constituted committee are accepted and put in practice. A committee constituted by the IRDAI has suggested a host of changes in the life insurance sector, including in the investment norms to improve the returns generated by the funds. IRDAI-constituted committee has suggested that the minimum investment limit of 50% in government securities should be reduced.
