1. Yes, they are totally safe - provided your own intentions are not malafide and fraudulent while buying insurance.
2. IRDA mandates that all insurers have to maintain 150% solvency margin of the sum insured, to enable RBI to repay affected customers in case of insolvency.
3. The Insurance Act states that in case an insurer cannot continue business on a sustainable basis, for whatsoever reasons, it must merge with another company and cannot wind up.
2. IRDA mandates that all insurers have to maintain 150% solvency margin of the sum insured, to enable RBI to repay affected customers in case of insolvency.
3. The Insurance Act states that in case an insurer cannot continue business on a sustainable basis, for whatsoever reasons, it must merge with another company and cannot wind up.