On June 12, IRDAI dismissed life insurers’ concerns regarding higher premature exit payouts, retaining most provisions related to increased special surrender value (SSV) for endowment policies proposed last month. It mandated life insurance companies to offer surrender value (SV) from the first year, a change from previous norms that allowed […]
life insurance
An impressive highlight of Life Insurance Corporation of India’s (LIC’s) FY24 performance was the big 330 basis points (bps) jump in the individual segment net value of new business (VNB) margin to 18.8%, even as the segment’s annualised premium equivalent (APE) remained almost flat at ₹38,433 crore. LIC therefore has […]