Guangzhou: Industry, Economics, and Policy

June 19, 2019 No comments

Sop-onomics beats economics

April 26, 2019 No comments

Jet Airways crisis: Lessors ask DGCA to deregister more planes leased to airlines

April 7, 2019 No comments

Three Questions For The Economic-Growth Scolds

March 31, 2019 No comments

Life insurance companies to seek nod for health indemnity

March 6, 2019

(Representative image)(Representative image)
KOLKATA: Life InsuranceCouncil, the representative body of life insurance companies, will request the Insurance Regulatory and Development Authority of India (IRDAI) to allow them to offer indemnity health cover again. The regulator had barred life insurance companies from offering indemnity health products from July 2016. Currently, life insurers can only offer fixed-benefit health products.

HDFC Life MD & CEO Vibha Padalkar pointed out that the council has formed a committee headed by her to deal with the issue. “In two-three weeks, we shall submit a proposal to IRDAI for resuming health indemnity cover for life companies.” According to her, insurance remains a logical growth path for a life insurance company as the underlying risk remains the same.

Being risk managers for a longer term, life insurers are at a natural vantage position to offer better value proposition to meet the healthcare needs of their customers.


Categories: Life insurance