Insurance Bytes

So, you have a life insurance policy to help your dependents overcome the loss of income in case of your untimely demise. But, have you thought what happens if this loss of income occurs during your lifetime because you have met with a serious accident or contracted an illness which does not permit you to work. Pretty dreadful thoughts, but a contingency one needs to consider and plan for. Also, would your life insurance policy be of any help in such difficult times. Yes, it would be, in case you have opted for Riders. And, what is a rider? Riders are add-on benefits that can be added to the basic life cover for additional coverage. There are different types of riders and the policyholder may choose one or more riders as per his requirement. Some of the common riders offered by life insurance companies in India are: Accidental death/disability rider – This rider covers death that occurs due to an accident and disabilities caused by an accident. In case a life insured who has...

Technology is invading every aspect of our life, from the way we spend our spare time to the way we communicate to the way we commute etc. Many new businesses like online shopping, app based taxi hailing services, food ordering services etc have come into existence thanks to technological innovations. Life Insurance too is seeing this impact of technology. In the future, life insurance companies too will adopt technologies that will enable more customization and are more customer-centric. Some of the life insurers in developed countries are already leveraging on new technology, and changing the way in which Life Insurance business has traditionally been performed. A game changing innovation is discussed here-under: Wearable devices are devices that can be worn by a consumer and often provide information related to health and fitness. They can on a real-time basis measure your heart rate, blood pressure, steps taken in a day, calories consumed, blood sugar level, stress level,...