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Tag: Life Insurance

  • Difference Between Term Insurance And Life Insurance

    Difference Between Term Insurance And Life Insurance

    Insurance is an important tool to secure your loved ones’ future. Among the most common types are term insurance and life insurance. While both offer financial protection to your family, they work in different ways. Before you finalise what kind of coverage you want, it is important to understand the distinction between the two. Let’s explore what term and life insurance mean and the main differences between them.

    What is Term Insurance?

    Term insurance is a pure protection plan. It provides life cover for a specific period, i.e., around 10, 20, or 30 years. If the policyholder passes away during this term, the nominee receives the death benefit (sum assured). However, if the policyholder survives the term, there is no maturity or return benefit. Some plans may come with a return of premium feature, where you get the premiums refunded if you outlive the end of the term.

    The main aim of a term plan is to offer high coverage at a low cost. It is considered the most affordable and straightforward type of insurance. You can use a term insurance premium calculator to check how much premium you need to pay based on your age, income, and sum assured. If you are looking for the best term insurance plan, opt for one that offers flexible tenure, claim settlement ease, and rider options.

    What is Life Insurance?

    Life insurance is a broader term that includes products offering a life cover, which may come with savings or investment components. These plans not only offer a death benefit to the nominee in case of the policyholder’s demise but also provide a maturity benefit if the policyholder survives the policy term (endowment plans or ULIPs) or payouts during the plan (money-back policies). 

    Examples of life insurance include endowment plans, whole life insurance, money-back plans, and Unit-linked Insurance Plans (ULIPs). These policies are suitable for individuals looking to save (or invest) over the long term while staying insured. Though the premiums are higher compared to term plans, they offer the advantage of building a financial corpus over time.

    Key Points of Difference Between Term Insurance and Life Insurance

    Are you wondering which to choose – the best term insurance plan or the best life insurance in the market? The following points of difference will help you choose between the two: 

    Parameters  Term Insurance  Life Insurance 
    Purpose  It is purely for financial protection. It combines protection with savings or investment.
    Payouts Only pays the death benefit if the policyholder passes away during the term. Pays the death benefit and also offers maturity benefits if the policyholder survives.
    Premium Cost  Affordable and offers higher coverage for lower premiums.  Comes with higher premiums due to the savings component. 
    Policy Term Covers a specific period. Can offer coverage for a fixed term or even lifetime coverage (whole life).
    Returns Offers no returns unless you opt for return-of-premium variants. Offers returns through bonuses, savings accumulation, or market-linked gains. 
    Ideal For Those who want life insurance coverage at an affordable rate. Those looking to build savings with insurance over a longer period. 

    The right choice between term insurance and life insurance will depend on your financial goals and current life stage. Term insurance is best for those looking for affordable protection while life insurance is ideal for those looking to combine security and long-term savings. Use tools like a term insurance premium calculator to compare and choose the best term insurance plan for your family’s future. Whatever you choose, ensuring financial safety for your loved ones is always a wise decision.

  • Bandhan Life and Havas CX India launch bold, witty insurance campaign

    Bandhan Life and Havas CX India launch bold, witty insurance campaign

    MUMBAI: Life insurance and laughter don’t usually go hand in hand-until now. Bandhan Life, in collaboration with Havas CX India, has flipped the script on traditional financial planning with an entertaining new campaign designed to simplify life insurance and make securing one’s future feel less like a chore and more like a smart (and slightly amusing) move.

    The campaign, rolling out just in time for India’s peak insurance season (February–March), strategically taps into the heightened demand for financial security and tax-saving solutions. By blending humour, cultural quirks, and everyday scenarios, Bandhan Life is on a mission to prove that life insurance doesn’t have to be daunting—it can be as easy (and satisfying) as haggling for a good deal on a Mumbai auto ride.

    Why now? Because timing is everything. Life insurance sales in India hit their peak during tax season, with consumers scrambling to make smart investment choices while maximising benefits. Bandhan Life’s campaign ensures it meets consumers right where they are—with engaging, relatable storytelling that turns financial jargon into lighthearted, real-life moments.

    Financial planning can feel like deciphering an ancient script—full of tax laws, fine print, and complicated clauses. This campaign aims to change that. Through a series of short, witty films, Bandhan Life demystifies the fine print and makes policy benefits crystal clear. From an art connoisseur looking for a deal to a future-predicting parrot and a haggling commuter, each story serves as a reminder that securing your future is easier than you think.

    Bandhan Life’s mission is simple—help consumers move beyond last-minute tax-saving panic and towards strategic, long-term financial security. Whether it’s guaranteed returns, wealth creation, or tax benefits, the campaign urges customers to step into their nearest Bandhan Bank branch and take control of their financial future with confidence.

    Bandhan Life head of marketing Akhil Almeida summed it up, “Financial planning shouldn’t feel like an emergency-especially during tax season. We wanted to create something that makes life insurance approachable, empowering, and even a little entertaining.”

    Havas CX India head of creative Ashu Mhatre added, “Bandhan Life understands its customers deeply. This campaign taps into those everyday Indian behaviours-the art of bargaining, the love for a good deal, and the need for financial security-all wrapped in a humorous, engaging format.”

    The campaign will run across digital platforms, OTT channels, and social media, ensuring maximum reach and engagement. Designed to resonate with both first-time buyers and seasoned investors, it invites everyone to think beyond tax season and make smarter financial decisions.

    Bandhan Life and Havas CX India are here to remind everyone that life insurance isn’t just about checking a box—it’s about securing your future, stress-free. And if you can laugh a little while doing it, even better.

  • How Life Insurance Provides Financial Security During Uncertain Time

    How Life Insurance Provides Financial Security During Uncertain Time

    Life is full of surprises. Some of them make us smile, like a promotion at work or a child’s first steps. Other things can catch us off guard – unexpected illnesses, sudden job loss, or the untimely passing of a loved one. These moments are reminders that uncertainty is a certain part of life. While we can’t predict what’s coming, we can definitely try to be prepared for it. One way is through life insurance – a quiet but powerful tool that ensures your family’s financial security when you need it the most.

    Safety net for loved ones

    Term insurance provides a safety net for your loved ones. In case of an unfortunate event, it provides a payout—known as the sum assured – to your family. This lump sum can cover immediate expenses such as medical bills, EMIs, daily living costs etc.

    More importantly, term insurance gives families time to adjust to their new reality without the added burden of financial worry. When a pivotal person is no more, bereaving family members can’t see the proverbial ‘bottom of muddy water’. They require time and support.

    To put that in context consider this example – A term insurance plan of ₹1 crore costs about ₹10,000 annually for a healthy 30-year-old. This small annual expense can secure a significant sum for your family, ensuring they’re protected even when if you are not around.

    Helping deal with job loss

    Today, disruption in jobs has become fairly common. The reasons are varied: evolving technology, global headwinds, and market movement, among others. This brings about the uncertainty of employment as a reality many face. A sudden job loss can disrupt even the most carefully planned finances. Life insurance with built-in savings or investment options, like endowment or ULIP plans, offers a dual benefit.

    Endowment plans combine life cover with a savings component, allowing you to accumulate wealth over time. During financially challenging periods, these savings can be used as a buffer.

    Similarly, ULIPs let you invest in market-linked instruments while offering life coverage. If you have built a good corpus in the lock-in period of 5 years, these policies can ensure you don’t have to dip into long-term savings or retirement funds during short-term crises.

    Health and rising medical costs

    In India, the cost of healthcare is rising rapidly. Room rates, consultation charges, medicines, diagnostic tests – these costs have risen for every imaginable healthcare-related service. Thus, a single hospitalisation can cost lakhs, leaving families drained financially. Life insurance policies with critical illness riders offer an added layer of protection. Some of these riders pay out a lump sum, directly on the diagnosis of a serious condition like cancer or heart disease without requiring hospital bills.

    To put this in context consider this – Adding a critical illness rider to your term plan might cost an extra ₹2,000 annually. But this small amount can provide coverage worth ₹10 lakh or more, helping you prepare for unexpected medical expenses without depleting your savings.

    Education and future goals

    For parents, their children’s education is often the top priority. Higher education, whether in India or abroad, is an expensive affair. Life insurance policies like child plans ensure that funds are available when they are needed most, regardless of life’s uncertainties.

    For instance, a policy maturing at your child’s 18th birthday can help pay for college fees, tuition, or even living expenses. By planning early, you can lock in affordable premiums and ensure your child’s dreams remain on track, no matter what.

    Tax benefits

    Life insurance isn’t just about protection; it’s also a tax-efficient investment. The premiums paid up to ₹1.5 lakh per year towards life insurance are eligible for deductions under Section 80C of the Income Tax Act, 1961. Additionally, if you have added a critical illness rider to your policy, you can claim an extra deduction under Section 80D of the same act. 
    Moreover, the proceeds received are also tax exempt subject to conditions under Section 10(10D) of the Income Tax Act, 1961.

    Emotional security

    Beyond numbers, life insurance offers something intangible but equally valuable: peace of mind. Knowing that your family will be financially secure, no matter what, allows you to focus on living life to the fullest. It’s not just about insuring your income; it’s about insuring your peace of mind.

    Take the case of Sunil, a 38-year-old software professional. He purchased a term insurance plan worth ₹1 crore when his daughter was born. Two years later, Sunil was diagnosed with a critical illness. His policy’s rider provided a payout of ₹15 lakh on the diagnosis, thus easing the financial strain on his family. Today, as Sunil continues to recover, he knows that his policy can secure his family’s future, come what may.

    Small steps for big security

    Securing your family’s financial future doesn’t have to be complicated. Start by evaluating your needs. Consider factors like your age, income, existing debts, and family goals. Choose a plan that aligns with your requirements and ensure timely premium payments.

    For young professionals, starting early means locking in lower premiums and higher coverage. For parents, child-specific plans provide targeted benefits. And for those nearing retirement, life insurance can supplement other savings, offering a comprehensive safety net.

    Uncertainty is a part of life, but it doesn’t have to define it. Life insurance offers a way to turn unpredictability into preparedness. By offering financial security during tough times, it allows you to focus on what truly matters – creating memories with your loved ones and living life without fear of the unknown.

  • From Script to Security: Protecting Your Family with Life Insurance

    From Script to Security: Protecting Your Family with Life Insurance

    The rising cost of living has a significant impact on people’s wallets. To keep pace with these rising expenses, it’s crucial for individuals to budget wisely and make sound financial investments. Amongst smart investment options, Life insurance is a great choice for protecting your family’s financial security.  Scroll down to learn more about how life insurance can protect your family. 

    Does Life Insurance Ensure Financial Security?

    Life insurance plays a crucial role in securing financial stability for policy holders and their loved ones. Life policies and their useful riders provide financial protection against unforeseen circumstances, including death, critical illness, terminal illness, permanent disability and more. 

    Life insurance is a financial contract between a policyholder and an insurance company. In exchange for life coverage, the policyholder agrees to make lump sum or regular payments, known as premiums, to the insurance company. 

    . In the event of the policyholder’s death, nominees will be offered the sum assured as the death benefit.  Sum assured, meaning – the guaranteed amount that the insurance company agrees to pay to the policyholder’s nominees. The payout can help dependents fulfil financial liabilities and commitments, thereby preventing financial setbacks

    . In case of your policy maturity, the payout can fulfil the policyholder’s major financial goals.

    The Script of Life Insurance – Different Policies, Different Needs

    Life insurance isn’t a one-size-fits-all solution. There are various policy types, each catering to specific needs and budgets. Here are the two most common types: 

    Term Life insurance

    Term insurance is the most popular and affordable life insurance plan. It offers protection for a predetermined amount of time or term, usually 10, 20, or 30 years. If you pass away within the term, your beneficiaries receive the death benefit. Young families or those with specific financial goals, such as paying off a mortgage, typically find term life insurance advantageous. 

    Whole life insurance

    This insurance provides lifetime coverage and builds cash value in addition to the death payout. Withdrawals and loans are permitted from the cash value, which increases over time (according to policy limits). Although whole life insurance has greater premiums than term insurance, it guarantees death payouts and long-term savings.

    Beyond the Script – Key Considerations When Choosing a Policy

    Selecting the best life insurance plan needs careful consideration of several factors. The following are some important things to remember:

    . Needs Assessment: Consider your family’s financial commitments and long-term objectives. How much coverage is necessary for them to live the way they do and fulfil their dreams?

    . Selection of Beneficiaries: Decide which beneficiaries will receive the death benefit. You can choose the payout percentages and specify more than one beneficiary.

    . Budget: The cost of life insurance might differ greatly. Regarding your spending, be reasonable and get insurance that will not break the bank over time.

    . Term Length: When choosing a term life insurance policy, think about how long your family will require financial security.

    . Age and Health Factors: Your age and health significantly impact your premium expenses and eligibility. When completing the application, ensure that you tell the truth about your age and health. 

    Final Words

    To wrap it up, investing in life insurance plans is one smart way to ensure your family’s financial stability while maximising your savings. Given life unpredictabilities, being financially empowered is crucial. Make sure to evaluate your financial requirements and opt for a suitable life insurance plan today.

  • PolicyBazaar empowers women in new term insurance campaign

    PolicyBazaar empowers women in new term insurance campaign

    Mumbai: Capturing on film a much-needed shift in gender notions, Policybazaar unveils a poignant three-part brand campaign, which brings out the critical need for every Indian woman to buy Term Life Insurance independent of her spouse. Traditionally, a family’s financial security is associated solely with men. This dangerously overlooks the emotional and financial void a family faces if the wife or mother figure passes away. Policybazaar’s campaign touchingly portrays this gap, urging women to own their role in their family’s financial well-being and secure their loved one’s future with Term Insurance.

    Agar mujhe kuch ho jaata toh…?

    The ads showcase the quintessential motherly instinct of wanting to protect your child even if you are not around. The first ad opens with a cancer survivor tending to her daughter’s needs, simultaneously fretting how much the child’s life would have had to change had she not survived. She adds that this sobering realization has made her choose some semblance of certainty for her daughter – as she has invested in her own Term insurance, just like her husband.

    Zimmedari hum dono ki hai…

    Another ad brings out the pangs of responsibility a mother feels even when her child is in the womb. A pregnant woman, sitting in a hospital, says that making sure her yet-to-be-born child gets the best opportunities in life is the couple’s shared responsibility. She adds that she, too, has bought Term Insurance so that both can do justice to their kid’s dreams even in the worst circumstances.

    Sirf ek salary pe ghar nahin chalta…

    The campaign aptly depicts the ground reality of a modern household, in which a woman’s financial contribution is no less than a man’s. All three ads are connected by the common thread of women actively buying insurance, embracing the responsibility that comes with the changing dynamics.

    Policybazaar chief marketing officer Sai Narayan said, “Our brand’s tagline is “Har Family Hogi Insured,” and that can only happen when women are factored in as equals. Term insurance tailored for women is a critical yet underexplored segment; we believe it holds immense potential. The storytelling in these ad films mirrors the evolving societal dynamics where an increasing number of women are taking charge of financial matters, particularly concerning their children. Our in-house research further affirms that women are increasingly becoming the primary decision-makers when it comes to purchasing term insurance. Through this campaign, Policybazaar drives home the message and encourages more women to invest in a financially secure future for their loved ones.”

    The brand has also in the past collaborated with its insurer partners in making women-centric term plans easily accessible, like the independent homemaker term plan.

    Policybazaar CBO Life Insurance Santosh Agarwal echoes the sentiment, “Policybazaar advocates the philosophy of women being equal contributors to a household, irrespective of their employment status or tangible income. The industry coming up with products like the independent homemaker term plan is a huge testament to women’s invaluable contribution to family and society. There are plans available that cater specifically to women’s health concerns. The campaign takes our message far and wide that women must make the best of these plans and secure their dependents’ future in this uncertain world.”

  • Online advertisements influence 55% of health insurance buyers: WATPapers

    Online advertisements influence 55% of health insurance buyers: WATPapers

    Mumbai: Hybrid digital agency from Dentsu Creative India WATConsult has released its latest issue of monthly WATPapers titled ‘Consumer’s outlook towards health insurance.’ The report explores how the Covid-19 pandemic has transformed the consumer perception about insurance, as more individuals felt the need to have financial backup to meet unforeseen medical expenditures.

    According to the report, more than half of the respondents have purchased health insurance in the last six months. These policyholders belong to the age group of 25 to 35 years, residing in the top four metros as well as small metros.

    Most of them have purchased health insurance for themselves and their parents. With regard to the coverage duration, 32 per cent of the respondents have purchased health insurance for up to two years. 27 per cent of the respondents have opted for a health insurance plan for a year’s duration.

    For the record, in India, there are a plethora of benefits offered by health insurance policies. Most of the respondents say that their health insurance policy covers facilities like cashless treatment and maternity coverage followed by emergency room services, discounted treatment for COVID, and free health check-ups.

    The report further states that when it comes to purchasing health insurance policies online, the journey from assessing the need for a health insurance policy to purchasing one is very likely to start by watching policy reviews and videos online. This enables the consumer to get familiar with the brands and options available. They then visit the brand’s website or search for suitable policies on the internet. Post which, they are likely to compare websites and evaluate a suitable policy based on the benefits and features it offers.

    Commenting on the latest issue, Isobar India Group CEO Heeru Dingra said, “Since the pandemic, there has been an ever-growing demand for health covers because people have realised that huge medical expenses, especially when engulfed in uncertainty can take a toll on their financial and mental well-being. In such a situation relying on savings is not enough, hence, a health insurance policy is ideal as it covers facilities like cashless treatment, maternity coverage followed by emergency room services, discounted treatment, reimbursements, and free health check-ups. This issue of WATPapers is a must-read as it showcases the trends observed in the sale of health insurance plans and how policyholders today are shielding themselves against medical emergencies.”  

    WATConsult managing partner Sahil Shah added, “The pandemic has disrupted the industry by altering how people view health insurance for themselves, and their family members. This period of an extreme health crisis, with the pandemic looming over, has led more and more people to opt for health insurance. The future looks promising for the health insurance sector with changes in the regulatory framework, which will lead to changes in the industry conducting its business. Factors such as growing awareness, the need for health protection and inclusion in the financial planning of an individual, will drive the growth of the Indian health insurance sector even higher and further.”

  • Policybazaar unveils new term life ad campaign featuring Pankaj Tripathi

    Policybazaar unveils new term life ad campaign featuring Pankaj Tripathi

    Mumbai: Online insurance marketplaces Policybazaar unveils its newest brand campaign featuring actor Pankaj Tripathi to raise awareness quotient regarding the significance of term life insurance. Presented with a healthy dose of humour, the ad film is aimed at individuals who procrastinate the crucial decision of buying term insurance for their dependents.

    The low insurance penetration in India stems from the low collective public awareness regarding insurance, and Policybazaar’s new campaign deftly underlines this fact. Corresponding to the brand’s promise of insuring every family, the initiative targets the all-too-prevalent perception of stalling insurance purchases until it’s too late. The quirky ad emphasises that not buying term insurance is equivalent to a ‘ghor paap’ or unforgivable sin against one’s family.

    Commenting on the launch, Policybazaar.com CEO Sarbvir Singh said, “The overall low insurance penetration rate in India is a reflection of mostly uninsured or underinsured people. We at Policybazaar have relentlessly been working towards the mission of closing the protection gap in the country and bringing it to global levels. Our new campaign is humorous and hard-hitting in equal measures to create the maximum impact on the general consumer mindset of procrastination. We want to effectively drive a strong consumer connection through this campaign and make them aware of the consequences of their indecision.”

    Establishing an afterlife setting, the creative campaign kicks off with a seemingly affable college professor being directed to the gates of hell in a surprising turn of events. Downright baffled, he is told by the gatekeeper that he has committed a ‘ghor paap’ against his family by not purchasing a term life insurance in his lifetime. Played by the charismatic Pankaj Tripathi, the gatekeeper then lets the next guy into heaven since he had taken a policy! 

    Talking about the campaign launch, Policybazaar Group senior director brand & marketing Sai Narayan said, “Procrastination, especially when it comes to insurance, is pretty much a fundamental trait. The concept behind this campaign is to make consumers aware of the transience of life and the gravity of an unprecedented situation. The humour element is intended to educate as well as entertain them at the same time. Pankaj Tripathi is one of the most popular faces of the entertainment industry and his trademark style helps get our message across prudently among the masses.”

    MagicCircle managing director Hemant Misra added, “Death is the only truth in our lives. Policybazaar is one brand that has taken this truth by the horns and coaxed a highly underpenetrated category into action. For this campaign, we went beyond the fear of death to a fear that lives on even after death. The fear of being remembered as the person who robbed their family of happiness. That is not simply a crime but ‘Paap’. Ghor Paap. That is the simple insight this campaign is based on.”

    Since its inception, Policybazaar’s larger vision has been to make the insurance ecosystem more transparent and make insurance simpler for the end consumer. Our end-to-end digital assistance and diversified solutions have been vital in giving people a safer and easier way for buying, renewing, and claiming insurance for over a decade. The campaign is a part of the larger brand message of encouraging more and more people to invest in protection products for a better future for their loved ones, even in their absence.

  • Bharti AXA Life Insurance ropes in Vidya Balan as brand ambassador

    Bharti AXA Life Insurance ropes in Vidya Balan as brand ambassador

    Mumbai: Bharti AXA Life Insurance, a joint venture between Bharti Enterprises and AXA insurance on Tuesday announced that it has roped in Bollywood actor Vidya Balan as its brand ambassador. 

    The National Award-winning actor embodies the core values of Bharti AXA Life Insurance and will help deepen the narrative of #DoTheSmartThing championed by the brand, stated the company. 

    “Vidya Balan has been a challenger in her field, expressing herself authentically and has always questioned stereotypes,” said Bharti AXA Life Insurance MD and CEO Parag Raja. “She has excelled in bringing compelling and unique narratives to life on screen and is self-made, reliant, and audacious- values that strongly resonate with Bharti AXA Life as a brand. We believe in long-term relationships and are excited to bring Vidya on board to further our goal of broadening life insurance penetration across India.”

    Speaking on the association, Vidya Balan said, “Bharti AXA has always been committed to simplifying insurance and empowering Indians to making smarter and savvier financial choices. I am extremely excited to represent the brand and help them further their manifesto of #DoTheSmartThing. It is heartening to see how the company has raised the bar of serving customers and constantly advocates for securing their financial futures. I look forward to the association and kicking off our engagement.”

    Bharti AXA Life had announced a new brand purpose last year, which centres on making insurance simple for customers in a complicated world.

    “We are excited to bring Vidya on board and look forward to an enriching partnership with her. We believe that our association will help us strengthen awareness around the category and build a more meaningful and purpose-driven connect with our customers,” commented Bharti AXA Life Insurance head of marketing Geetanjali Kothari.

    Over the past year, Bharti AXA Life Insurance has made strategic investments in digital platforms to enhance customer experience and facilitate seamless services. The company plans to expand on the back of strategic partnerships and by increasing its distribution footprints across the country.

  • HDFC Life’s new campaign urges smart financial planning

    HDFC Life’s new campaign urges smart financial planning

    Mumbai: In its endeavour to create greater awareness about life insurance amongst consumers, HDFC Life has unveiled a new campaign, #KaroPooriTaiyaari. Through this video series, the life insurance brand Intends to encourage Indians to plan and secure their life’s goals via responsible financial planning.

    The short film features television actors Manish Raisinghan and Mansi Parekh as an urban couple with two kids, who take us through the travails of a young family looking to save income for their various life goals and aspirations. 

    #KaroPooriTaiyaari campaign communicates to the audience that life can take an uncertain turn at any point, and the best way to take care of one’s responsibilities even in such times is through timely and strategic financial planning. It aims at encouraging the audience to take charge of their responsibilities, or ‘zimmedaari’- be it their family’s future security or their dreams and aspirations – and plan for life’s important milestones well in time.

    Commenting on his vision for this campaign, HDFC Life head – marketing, digital business & e-commerce, Vishal Subharwal said, “This campaign is our attempt at communicating the importance of timely financial planning to our audience and offering them the choice of options that can enable them to fulfill their responsibilities, while never having to compromise on the joys of life. #KaroPooriTaiyaari does just that, in a light-hearted manner that is relatable to the audience.”

    The conceptualisation of the campaign was undertaken by Logicserve Digital. Speaking about the conception and curation of the campaign, senior vice president – creative & social media Manesh Swamy said, “Financial planning for responsibilities is an important aspect of life. The task at hand was to communicate that to the audience in a simple and relatable way. With these series of films, we aim to convey that proper financial planning, and a positive attitude can enable individuals to deal with life’s uncertainties.” 

    Further amplified through strategised activities on social and other digital media, the campaign #KaroPooriTaiyaari aims at encouraging the audience to own up to their ‘zimmedaari’, when it comes to the most important things in life.

  • Aegon Life elevates Manish Falor as chief financial officer

    Aegon Life elevates Manish Falor as chief financial officer

    New Delhi: Digital Life Insurance company Aegon Life on Thursday announced the appointment of Manish Falor as its chief financial officer.

    In his new role, Falor will lead the company’s finance function to strengthen its business performance and growth.

    Falor joined Aegon Life in 2008. During his professional tenure of nearly two decades, he has led various functions of financial control, reporting, and business planning operations.

    Aegon Life, MD & CEO, Satishwar Balakrishnan said, “We are delighted to have Manish take over the new role within the organisation. His unique expertise in business planning and proficiency in accounts and financial management has helped us create value among our key stakeholders over the past 12 years. We are certain that Manish, in his new role, will help in Aegon Life’s growth in years to come. His clear vision and leadership skills will position us for greater success.”

    Speaking on his appointment, Falor said, the company has paved the way for digital life insurance in India, with the help of advanced technology, innovation, and a fresh approach towards insurance. “We have many firsts to our merit when we speak of innovation in the Indian life insurance industry, and we are gearing up to transform the way customers buy life insurance policies in India. It has been an amazing journey so far and I look forward to taking our business transformation to a new level,” he said.

    Prior to Aegon Life, Falor worked with Lovelock & Lewes and PriceWaterhouseCoopers (PwC, London), engaging with multiple insurance and investment management clients. He is a chartered accountant (CA) and a cost and works Accountant (CWA) by qualification. He has also completed a management certification program on Digital Disruption in Insurance from INSEAD, France.