"Earlier customers had to pay up to Rs 25,000 one way for Delhi-Mumbai tickets in peak season. Now with the upper cap, they will end up paying a lower fare of approximately Rs 11,000, even for a last-minute flight. According to us, trends will shift more on last minute, or bookings for the next three days of travel." … [Read more...] about Here’s why a fare cap may not help either airlines or customers
“Taking into consideration the emerging mortality experience across players, reinsurers have recently revised their protection rates. Consequently, the premium for term plans has increased. This increase by re-insurers is varied, depending on their mortality experience with the various insurers,” says Suresh Badami, Executive Director, HDFC Life. The quantum of hikes varies across age-groups as well as sums assured, policy tenures and premium paying terms chosen. India has one of the lowest rates when it comes to protection products, compared to the rest of the markets across the world. “There has been an increase in the rates, but our prices are based on our previous mortality experience across customer segments. We have priced it competitively, while keeping in mind the profitability and risk,” explains Badami. … [Read more...] about Insurers increase term cover premiums: What should policyholders do?
Then, there are other parameters that come into play. “Underwriting parameters – or factoring how much risk to assign to a policyholder – could turn more stringent as well. For example, companies could revisit the cut-offs for medical tests,” says Garg of Policybazaar.com. For example, someone whose income flow is irregular, unlike that of a salaried employee, might not be issued a policy or could be charged a higher premium. Similarly, prospective policyholders who have not completed graduation will also face greater scrutiny, as insurers tighten their underwriting norms and their implementation. … [Read more...] about Costlier term cover from April: Should you buy one now?