New Delhi: If you have also insured a member of your family or your family, then this news is for your work. In fact, it is expected that in future, insurance money from insurance companies can be found in installments every month. It has been suggested by the Insurance Regulatory Authority of India (IRDAI) that getting compensation in installments every month will provide a regular income to the dependents for long periods of time. If this happens then the burden of paying a lump sum compensation on the insurance companies will also be reduced.
Family will get help for a long time
After the implementation of IRDA's recommendations, the new rule applies, it is expected that insurance companies will make changes in the terms of the product on this basis. About this, the G-Media Correspondent talked to Suneetti, the product head of SBI General Insurance, Puneet Sahni. He told that the IRDA committee has suggested that payment of the amount of outright claim will be done in installments. If this happens, then the family of the policyholder can get relief for a long period of time.
Insurance companies will not get much expense
Companies also believe that such products can be prepared and there will not be more costs for insurance companies. If the new rule applies, the amount of Personal Accident and Life Insurance cover will be available to the dependents in installments. On the other hand, the pressure on lump sum payments on insurance companies will also be reduced. However, sources also say that there will be an option to take a lump sum or money in installments in the policy
This recommendation has been given on behalf of the committee after seeing such cases in which the policyholder's family needs money for a longer period. After the death of the policy holder, its dependents are given a lump sum on behalf of the companies. Earlier, it was also reported that the insurance companies can make your mobile number the number of the insurance policy.
Family will get help for a long time
After the implementation of IRDA's recommendations, the new rule applies, it is expected that insurance companies will make changes in the terms of the product on this basis. About this, the G-Media Correspondent talked to Suneetti, the product head of SBI General Insurance, Puneet Sahni. He told that the IRDA committee has suggested that payment of the amount of outright claim will be done in installments. If this happens, then the family of the policyholder can get relief for a long period of time.
Insurance companies will not get much expense
Companies also believe that such products can be prepared and there will not be more costs for insurance companies. If the new rule applies, the amount of Personal Accident and Life Insurance cover will be available to the dependents in installments. On the other hand, the pressure on lump sum payments on insurance companies will also be reduced. However, sources also say that there will be an option to take a lump sum or money in installments in the policy
This recommendation has been given on behalf of the committee after seeing such cases in which the policyholder's family needs money for a longer period. After the death of the policy holder, its dependents are given a lump sum on behalf of the companies. Earlier, it was also reported that the insurance companies can make your mobile number the number of the insurance policy.
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