Category: Probus In News

Home loan insurance guarantees that if the borrower dies or becomes permanently disabled, the insurer will pay the bank the outstanding amount due on the loan. This way, the borrower’s family won’t inherit the burden of the debt, nor will the borrower lose the property to foreclosure. In India, this type of insurance is typically… Continue reading Home Loan Insurance: How It Protects Families And Finances

Cancer treatment can wipe out your hard-earned savings that you had built up over years in just a few months if you or any of your family members is diagnosed with this deadly disease. Plus, there are plenty of such life diseases that also require costly treatments. Any critical illness diagnosis can be a big shock, even for… Continue reading Does your health insurance policy cover cancer, stroke and other critical illnesses? Here’s what to check and what to do

If your life insurance company or general insurance company has delayed, mishandled, or worse, outrightly rejected your claim without any valid reason or by citing vague exclusions, you don’t have to let it slide. Policyholders can approach the Bima Lokpal, or Insurance Ombudsman, to resolve their disputes with the insurer without incurring any costs. Read on to know more about how… Continue reading Have an insurance claim-related grievance? Here’s how you can file a complaint with the Bima Lokpal, or Insurance Ombudsman

The insurance regulator has repeatedly emphasised the importance of expanding insurance coverage in rural areas through regulations in 2005, 2015, 2020, and most recently in 2024. Although insurance companies have assured IRDAI of adopting suitable local measures, rural insurance penetration remains low. Despite IRDAI’s consistent focus on rural outreach and setting targets for the rural… Continue reading Unrealised Potential: Rural Insurance in India

With stricter visa rules and a large number of Indians facing rejections for popular destinations lately, a visa rejection rider in travel insurance can be a financial safety net. It will cover losses such as pre-booked flight tickets, hotels, and other non-refundable expenses. In the first half of this financial year, Policybazaar, an online insurance aggregator, has seen the… Continue reading Pack in a visa rejection rider 

Achieving profitability in health insurance involves aligning premium growth more directly to medical inflation rather than trends in the overall inflation. “Medical costs in India have shown a persistent high ‘medical trend’ (double-digit in many surveys), driven by technology, input costs, and provider market dynamics,” says Narendra Bharindwal, president, Insurance Brokers Association of India (IBAI).… Continue reading Health Insurance May Become Unviable In 3-5 Years Without Medical Inflation Control

Heavy rains have led to severe landslides and flooding in Darjeeling, the hill station in North Bengal. It left roads washed away, bridges collapsed, and homes damaged. While over 20 people lost their lives, hundreds of tourists were left stranded. Rescue operations by local authorities are underway, but access to some areas remains cut off.… Continue reading Darjeeling Disaster Strands Tourists, Highlights Importance of Travel Insurance for Natural Calamities

India has a large livestock population, with the 20th Livestock Census of 2019 reporting a total of 537 million animals. This includes 303 million bovines (cattle and buffalo), as well as 239 million other livestock, such as sheep, goats, and pigs. It is worth noting that 86 per cent of farmers, predominantly small and marginal,… Continue reading Why cattle insurance is not a preferred business for most insurers and how to scale it

Are you thinking about travelling abroad soon? You’ll probably want to get travel insurance, as many countries now require travellers to have it before they go. But the good news is that your trip may be a little easier on your wallet, since experts says travel insurance is GST-exemt. This means that you could end up paying… Continue reading Travel insurance: Is it GST free now, how much can you save on your next trip?

Starting September 22, 2025, premiums for individual health and life insurance policies are exempt from GST, meaning policyholders won’t need to pay any GST on these premiums, except for group policies. However, effective September 22, insurers won’t be able to claim any ITC (input tax credit) on their operational services like brokerage, commissions, office rent,… Continue reading Policyholders are unlikely to get full benefit from GST exemption; premiums likely to rise with no ITC benefit