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Term insurance maths: Forget the 10x rule, here is what you actually need to avoid being underinsured
The brief
- Families should assess the financial backing needed if the primary breadwinner's income vanishes
- Life insurers and insurance distributors may see demand shaped by households reassessing coverage needs
- Insurance mis-selling is arising because upfront commissions are too high: Ajay Seth, Chairman, IRDAI
- LIC left with two serving MDs as Dinesh Pant joins Irdai as actuary member
- Insurance reforms aim to cut costs, widen access: IRDAI chairman Ajay Seth
- Insurers seek phased rollout of commission reforms, scale-based EoM caps
- IRDAI’s insurance distribution reforms: What changes for insurers, brokers, customers