Author: TOI

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Should you buy a coronavirus-specific insurance policy? Here’s a comparison of those available

Given the rate at which Covid-19 is permeating the country and considering the impact of lockdown on the economy, many people have been hit by the double whammy of disease and dearth of funds. Combine this with the low penetration of health insurance in India and it has created a gap that insurers are rushing…

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LIC policyholders given 30 days to pay premium

The Life Insurance Corporation of India (LIC) has announced a month-long extension for all policyholders whose premiums fall due in March and April in wake of “unforeseen difficulties” faced by people due to the coronavirus. The insurance behemoth has also announced a further retrospective relaxation till April 15th for those customers whose premiums were due…

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Renewal of health, motor covers extended to May 15

The Ministry of Finance issued a notification on April 15 stating that health and motor insurance cover renewal dates that fall between March 25, 2020 and May 3, 2020 have been further extended till May 15, 2020 due to the coronavirus lockdown. This means that if your current compulsory third-party insurance policy is expiring between…

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Bharti AXA launches pay as you drive motor cover

Bharti AXA General Insurance will now offer usage-based motor insurance policies for private car owners under IRDAI’s Sandbox project. For this the general insurer has tied up with insurance aggregator, PolicyBazaar.com. The usage-based motor insurance, also known as ‘pay as you drive’, allows policyholders to pay the premium depending on kilometers driven. How insurance premium…

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Health cover for staff mandatory post lockdown

The government has made it mandatory for all employers which resume functioning as the lockdown gets over, to provide medical insurance to their employees. Roopam Asthana, CEO and Director, Liberty General Insurance said that earlier it was not mandatory for all employers to provide health insurance cover to their employees. “However, some employers were buying…