Understanding a product and assessing its suitability improve the chances of staying invested. Use life insurance mainly to cover risk, not to seek returns.
Proposal forms are often filled by the agent. Check the form after it is filled.
Canadian firm Manulife and Mahindra & Mahindra (M&M), an Indian automaker with interests in financial services, have signed an agreement to form a 50:50 life insurance joint venture (JV) with a total capital commitment of up to Rs 3,600 crore each totalling Rs 7,200 crore.
Both the life and non-life insurance segment posted over 20 per cent premium growth in November for the first time in this financial year (FY26), supported by the reduction in goods and services tax (GST) on premiums from 18 per cent to zero and a favourable base effect.
The Union Cabinet's decision to raise the foreign direct investment (FDI) limit in the insurance sector to 100 per cent is unlikely to significantly boost foreign investment as distribution remains a critical factor, requiring overseas players to partner with Indian businesses, experts said.
An Home Loan Protection Plan repays the outstanding loan if the borrower dies or suffers a covered disability.
Recent years have been turbulent for the insurance industry due to direct and indirect tax reforms, regulatory overhaul and other external pressures. The events cumulatively slowed growth rate to single digits from the high teens seen earlier.
Use these loans to meet emergency needs, and not to fund holidays or luxury purchases.
'This will be our first large-size bank partner, and hence, the partnership will be a game-changer for us.'
Make sure the rider adds value rather than just adding to cost.
Younger customers should opt for increasing cover as their financial commitments are likely to rise in the future.
Irdai's push will make insurance cheaper for consumers and enable a consolidated view of all policies.
While your insurer will help you open an e-insurance account at the time of buying a policy, existing policyholders must do so themselves
Commercial papers, certificates of deposit also dry up
The RBI cited lower-than-expected inflation, weak crude prices and weak demand, as well as the government's commitment to sticking to a fiscal deficit target as reasons.
Experts hail Budget 2015 as a progressive, growth oriented one.
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