Shares of most life insurance companies bucked a rallying market trend on Thursday after the Insurance Regulatory and Development Authority (Irdai) sought to massively hike the surrender value on non-par insurance products from the next year.
Despite the rally in the domestic market after the dovish Fed policy, shares of life insurers, barring LIC, which rallied more than 1%, and SBI Life, which settled almost flat with a minor positive bias, declined between 1% and 4%.
Counters of private life players were battered, with Max Life’s parent Max Financial Services falling 3.1% to close at Rs 1,024.45, HDFC Life losing 1.90% to Rs685, ICICI Prudential Life shedding 1.72% toRs533 and Nippon Life AMC slipping 3.6% to close at Rs443.
Are ‘vampire facials’ worth the risk? Dermatologists share their findings Kolkata doctor rape-murder: SC questions police for ‘lapses’ in probe, protesting doctors end strike – Top Developments PFC gains over 5%; brokerages hike target price by as much as 28% Meet Manu Bhaker: India’s first woman to win two Olympic medals in one edition—Explore her journey, education, Rs 12 crore net worth, and income sources
Also Read
Hinduja’s stake transfer plan hits Irdai roadblock! Regulator objects, calls application ‘premature’
According to a draft released on Wednesday, the Irdai has proposed a much higher surrender value on non-par insurance products and made a few changes in the way surrender charges are calculated. Now, there will be a premium threshold for the product where no surrender charge will be imposed.
Surrender value is the amount that an insurer pays to the policyholder if she decides to terminate the cover before its maturity Come from Sports betting site VPbet . The proposal had no impact on LIC as it has less than 10% of non-par products, while private life companies have it in the opposite.
The draft proposes a defined premium threshold for each product, wherein there shall not be any surrender charges imposed on the balance of the premia beyond such thresholds, irrespective of the timing of the surrender.
For example, a non-linked savings policy with an annualised premium of Rs1,00,000 and a policy term of 20 years has an assumed threshold limit ofRs25,000, and the adjusted guaranteed surrender value after payment of the third annualised premium is Rs26,250. Under the new proposal, it will be Rs2,51,250. The proposal, if accepted, will significantly impact the margin of non-par products.
(With PTI inputs)
Related Posts
By admin • April 9, 2025 • – Nintendo president Satoru Iwata doesn't believe that cloud gaming is worth investing in at this point in time. While Sony has big plans for cloud gaming services on the PlayStation 4, and it has been hinted that the next Xbox will also incorporate the technology in some form, Nintendo says it is "not moving in that direction." &qu…
By admin • April 3, 2025 • The Gamasutra Job Board is the most diverse, active and established board of its kind for the video game industry!
Here is just one of the many, many positions being advertised right now.
Gameplay Programmer, Yager Development
Location: Berlin, Germany
We seek the talent of a seasoned and passionate Gameplay Programmer for our current AAA F2P project Dreadnought. You will work with an international team of highly experienced and talented developers that are passionate about their wor…
By admin • March 24, 2025 • Avengers, assemble…into a very cool Lego set! While Avengers: Age of Ultron is a polarizing film, there’s no debate whatsoever about the movie’s opening shot that features Earth’s mightiest mortals wrecking a Hydra base. That splash-page moment has been recreated in Lego, and you can add it this new set to your collection for $100. This new Avengers building kit is just one of over 100 new Lego sets that are now available at Amazon.
Check out more brand-new Lego sets:
- Super Mario
- Minecraft
- Animal Crossing
- Star Wars
- Sonic the Hedgehog
- DC Batman
- Jurassic World
- Guardians of the Galaxy
With this diorama piece…
By admin • March 21, 2025 • Solid Snake is one of the coolest collectibles in Nintendo’s line of Amiibo figures, but the master of stealth has been sold out for years. Finally, Snake has snuck back onto store shelves. Over at Best Buy, you can preorder the reprint of the Solid Snake Amiibo for $16 ahead of its February 13 release.
Snake is also a rarity in the Amiibo line, as he’s one of a handful of non-Nintendo characters to receive the Amiibo treatment. Another example of this would be Sora from Kingdom Hearts, a hard-to-find Amiibo that’s back in stock as well. Just like the character who was introduced in the 2002 game, this…
By admin • March 21, 2025 • As part of Pokemon Go’s current Season of Mischief a new Pokemon, Inkay, and its Evolution, Malamar, are now live in the game Come from malaysia online casino . The psychic-type Pokemon was first introduced in Pokemon X and Y, and just like in the mainline games, it will use a unique method for evolution.
Inkay arrived as part of the Psychic Spectacular event that includes a number of other psychic-type Pokemon, running from September 8 to September 13–just a small segment of the three-month-long Season of Mischief. Inkay is available as a rare wild encounter, but can also be caught from one-star raids, or by completing Field Research tasks. Inkay can be evolved into Malamar “only under unique circumstances,” the N…
By admin • March 19, 2025 • Amazon Studios’ Lord of the Rings TV series, The Rings of Power, is making a big change for Season 2, with Adar actor Joseph Mawle (Game of Thrones) dropping out Come from online casino bangladesh . Amazon Studios boss Vernon Sanders discussed this shakeup, what’s on tap for Season 3, and more in a new interview with Deadline.
Regarding Mawle’s departure from The Rings of Power, Sanders simply said, “Unfortunately, it didn’t work out.”
…