The government has not raised income tax exemption limit from Rs 2.5 lakh which was fixed in 2014 by the then Finance Minister Arun Jaitley in his first Budget.
The survey also revealed that the degree to which urban Indians are aware of life insurance products or the Knowledge Index moved up from 39 (in IPQ 1.0) in 2019 to 57 and life insurance Ownership Levels increased by 800 bps from 2019 (IPQ 1.0) to 73 per cent.
Get latest articles and stories on Latest News at LatestLY. India s Tier II cities like Ludhiana, Jaipur, Patna and Pune beat metros in terms of buying term insurance or pure insurance products, as per a report. Latest News | Tier II Cities Beat Metros in Sale of Term Insurance Products: Report.
New Delhi [India], January 12 (ANI/NewsVoir): Max Life Insurance Co Ltd has announced that it disbursed 30,830 death claims worth INR 2,009 crore in the financial year 2021-22, attaining an individual death claims paid ratio of 99.34 per cent. With this, Max Life has surpassed the coveted 99 per cent benchmark for three consecutive financial years. Max Life has deployed predictive analytics-based underwriting models and robust fraud management, strengthened by digitized forensic controls, to ensure a seamless claims settlement process for its customers. With this, over the last five years, Max Life has consistently improved its claims paid ratio from 98.26 per cent 1 in FY'18 to 99.34 per cent in FY'22. Prashant Tripathy, MD & CEO, Max Life said, "The moment of truth for any life insurer comes at the time of 'claims settlement' - the most crucial juncture of the insurer-customer relationship. By achieving a claims settlement ratio of 99.34 per cent and surpassi
Max Life achieves Claims Settlement Ratio of 99 34 per cent in FY22: IRDAI Annual Report 2021-2022 webindia123.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from webindia123.com Daily Mail and Mail on Sunday newspapers.