With at least three IPOs in the offing this year, stock market investors have a lot to look forward to.
Irdai to allow 12 minor changes including expansion of critical illness and day care procedure lists, premium payment in instalments, change sum assured, etc.
However, the number of renewals has grown by only 0.4 per cent, which means only high value and ticket size renewals are coming.
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.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
The third party premium has been increased from the current Rs 700 to Rs 2,500, a 257 per cent hike for private cars, where the cubic capacity of the vehicle exceeds 1,500 cc.
RBI's draft guidelines prescribe that banks with a strong capital base and NPAs below 3% can become brokers.
Intermediaries, TPAs will also benefit, but investments will be under 26% FDI cap
The devastation caused by the current deluge has damaged hundreds and thousands of homes and vehicles.
To curb mis-selling of policies and rationalise commissions, radical changes have been proposed to help investors.
'If you are investing in a Ulip for returns, go for a type I Ulip.' 'If you are investing for insurance cover as well, type II is better.'
Ashish Mehrotra, MD and CEO, Max Bupa Health Insurance, explains the changes we can expect in health insurance this year.
Though COVID-19 will wreak more damage to the finances of the Indian population, the insurance sector is unlikely to get hurt.
Agents often influence customers into buying new products every year instead of continuing with their existing policies
Section 45, which says no claim can be rejected after three years of a policy being in force, remains a bone of contention
The National Commission concluded that the claim had been rightly rejected on grounds of misrepresentation in the proposal form and breach of duty to maintain utmost good faith while applying for insurance coverage.
Sixteen merchant banks are in the fray to act as book running lead managers (BRLM) for the initial public offering of Life Insurance Corporation of India (LIC). These merchant banks will have to make a presentation before the Department of Investment and Public Asset Management (DIPAM) on August 24-25. The shortlisted banks are BNP Paribas, Citigroup Global Markets India, BofA Securities, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets(India), J.P. Morgan India, Nomura Financial Advisory and Securities (India), Axis Capital, DAM Capital Advisors, HDFC Bank, ICICI Securities, IIFL Securities, JM Financial, Kotak Mahindra Capital, SBI Capital Market, and Yes Securities India.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
If the sum assured is less than 10 times premium, the proceeds will be taxed.
There are a number of steps taken that will leave more money in the hands of the taxpayers.
These include the reduction in tax rates under the new tax regime, increase in standard deduction, allowing tax collected at source to be adjusted against tax deducted at source from salaries, notes Harsh Roongta.
Most mutual fund players and life insurance companies are planning to bid for appointment as pension fund managers for all citizens after the Pension Fund Regulatory and Development Authority (PFRDA) today decided to seek expression of interest from prospective fund managers.
The meeting will review the current global and domestic economic situation and financial stability issues, including those concerning banking and NBFCs.
Vehicles are depreciating assets and lose their value over time.
The Bill will come up for discussion in the upcoming winter session of the Parliament.
Allowing it to lapse leaves you unprotected and can, in some cases, cause loss of premiums paid, experts tell Sanjay Kumar Singh.
You can exit Ulips after five years.
While insurance companies are yet to finalise the premiums, there are chances that group health premiums could see an increase.
Following his resignation, the Finance Ministry has appointed Joint Secretary Anup Wadhawan as Chairman of the PFRDA.
Moving to a new company means losing out on continuity benefits
In the entire month's recess during Parliament's Budget session, said the Bharatiya Janata Party, the major opposition grouping, none from the government spoke to it on any of the major stuck legislation.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
Cost of the diagnostic test for Covid-19 has been fixed at Rs 4,500 per test by the government. Hospitals, however, do not think this is feasible.
Last year, FDI cap in insurance was hiked to 49%
Insurance companies have worked over the years to simplify their claim settlement process
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
