Many insurance companies have sensed an opportunity in the uncertainty of the market and are planning customised and stand alone 'job loss covers'. Such products are popular in developed economies, but now on a standalone basis, the product is set to make its debut in Indian, and the number of enquiries for such products has seen a spurt over the last few months.

If you are thinking or are about to lodge a claim request with your insurer, these tips can come handy.

As a rule Insurers consider the initial waiting period, History, Non-disclosure and Policy renewal date before making giving out the claim payment. Also, if you have multiple life policies, you need to inform the insurer about the exisiting life covers. This needs to done at the time of buying the policy. If the insurance company feels that you have more covers than required, then it can deny you the policy.

According to an official statement from the Anil Ambani Group's Reliance Capital today, Insurance Development and Regulatory Authority has given a go-ahead for the proposed 26% stake sale in Reliance Life Insurance to Japan's Nippon Life.

The company has received in-principle approval from Irda and final approval for the proposed sale would be granted upon receipt of RBI consent, Reliance Capital said in a statement. According to CEO Sam Ghosh, the transaction is expected to conclude within the next few weeks.