With only two months left in the year, we’ll be soon gearing up to kickstart 2025, and the insurance industry stands at a critical crossroads. The global protection gap—a measure of uninsured risk—looms large, projected to reach $1.86 trillion by 2025. This figure is more than just a number; it represents real people and businesses…
With IM Sherpa, insurance agencies don’t have to face crucial challenges alone. The service gives them the right tools, support, and strategies needed to manage every step of the customer journey, from the first contact to policy renewal. By improving efficiency, IM Sherpa lets agencies focus on building stronger relationships with clients and growing their…
We are thrilled to introduce the integration of Canopy Connect with InsuredMine, a significant enhancement that simplifies the retrieval of insurance information. With this feature, you can easily access critical details such as premiums, coverage limits, and deductibles for both personal and commercial policies. Setting up this integration is straightforward. Admins can enter necessary credentials,…
During these recent years, the world has experienced record-breaking natural catastrophes, ranging from devastating wildfires to powerful hurricanes and catastrophic floods. These events have placed immense pressure on traditional insurance models, leading to significant coverage gaps and market disruptions, particularly in high-risk areas. The escalating threat of climate change is evident in the growing number…
Dhan Rekha (Plan no 863) is a new guaranteed benefit, money back plan, introduced by the LIC of India. Guaranteed additions The post LIC’s Dhan Rekha – Plan 863 -Guaranteed benefits money back plan appeared first on Insurance Funda.
Before going for an in-depth analysis it is good to know what is death claim settlement ratio is and why it is important to you as a customer. Settlement of Death Claim in a prudent and speedy manner is the prime duty of any life insurance company. The claim settlement performance of an insurance company…
Loyalty additions are paid as a one-time benefit in some policies in lieu of a simple reversionary bonus (SRB). The main difference is that, unlike the simple reversionary bonus, which becomes a part of the policy benefits as and when it is declared, loyalty additions shall be available to the policyholder only at the time of exit from the policy….
This extra insurance called “Accidental death & disability rider” helps if the insured has a permanent disability or dies unexpectedly from an accident. It’s useful if you work in a high-risk job, do extreme sports or travel often. It helps you pay for medical expenses, lost income because of the accident, lump-sum payment for costs,…
In conclusion, LIC’s Jeevan Kiran Plan (No. 870) emerges as a beacon of financial security, catering to the diverse needs of individuals and families alike. With its flexible premium options, policy terms, and substantial life coverage, the plan paves the way for a stable and prosperous future. The unique maturity benefit, which returns the total…
Description: ‘Sum Assured on Death’ plus accrued Guaranteed Additions, payable if the policy is in force. In LIC’s Jeevan Utsav Plan 871, the “Sum Assured on Death” is a crucial component of the death benefit. It’s essentially the guaranteed amount paid to the beneficiaries if the insured person passes away. This sum is the higher…