The Saral Jeevan Bima product to be offered by all life insurance companies will be a non-linked non-participating individual pure-risk premium life insurance plan.
While the proposed new tax regime is optional for taxpayers, the finance minister has said the government eventually wants to do away with all exemptions with a lower tax-rate simplified structure.
The good news is investors can make 5 to 6 switches during a year among funds depending on the insurance companies without incurring any costs.
In January 2017, the growth in total premium was Rs 13,138 crore, against Rs 10,284 crore in January 2016, a growth of 28 per cent.
Moving to a new company means losing out on continuity benefits
But, neither were the big companies interested in growing inorganically nor were the smaller ones ready to offer themselves for sale.
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