The insurance industry has been facing difficulties in terms of claims as a result of COVID19, which is putting direct pressure on customers due to re-insurers’ increases in premium costs. According to insurance aggregator PolicyX.com, in the fourth quarter of 2021, the Term Insurance Price Index Value has gone up by 4.18%. The index value has reached Rs 23,929 during the quarter. The PolicyX.com report marks a huge difference of 9.75% in the term index value between the first quarter of 2021 and the fourth quarter.<\/p>\n\n\n\n
In quarter 4, 2021, the average yearly premium for a sum assured of Rs 1 crore increased to Rs 30,720 from Rs 29,443 in the third quarter. According to PolicyX.com, out of 5 life insurance companies, as many as 3 companies have revised their premium prices wherein the biggest increase was 13.4% followed by 4.9%, and 0.9%. The remaining 2 companies kept their premiums constant.<\/p>\n","protected":false},"excerpt":{"rendered":"
The insurance industry has been facing difficulties in terms of claims as a result of COVID19, which is putting direct pressure on customers due to re-insurers’ increases in premium costs.…<\/p>\n","protected":false},"author":1,"featured_media":1271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[15],"tags":[],"class_list":["post-1269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insurance"],"aioseo_notices":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/devoutinvest.com\/wp-content\/uploads\/2022\/01\/Term-Life-Insurance-Premium-Increase.jpg?fit=730%2C430&ssl=1","jetpack-related-posts":[],"jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/devoutinvest.com\/index.php?rest_route=\/wp\/v2\/posts\/1269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/devoutinvest.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/devoutinvest.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/devoutinvest.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/devoutinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1269"}],"version-history":[{"count":1,"href":"https:\/\/devoutinvest.com\/index.php?rest_route=\/wp\/v2\/posts\/1269\/revisions"}],"predecessor-version":[{"id":1272,"href":"https:\/\/devoutinvest.com\/index.php?rest_route=\/wp\/v2\/posts\/1269\/revisions\/1272"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/devoutinvest.com\/index.php?rest_route=\/wp\/v2\/media\/1271"}],"wp:attachment":[{"href":"https:\/\/devoutinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/devoutinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/devoutinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}