rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
It's tax returns season. Ask our tax experts Mihir Tanna, Hardik Parikh, Tejas Chokshi and Sanjeev Govila.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) will answer your personal finance-related questions.
RediffGURU Mihir Tanna broadly lists the ITRs to be filled by individuals having income from salary, house property, capital gain, business and other sources.
Life Insurance Corporation of India (LIC) declared disappointing results in Q1FY24. While it reported a net profit of Rs 9,540 crore in Q1FY24, this was attributable to the transfer of Rs 7,490 crore from non-participating (non-par) products to shareholders' accounts due to the accretion on available solvency margin. In operational terms, annualised premium equivalent (APE) declined and value of new business (VNB) margin was flat. But the medium-term prospects may be better.
rediffGURU and financial planning expert Colonel Sanjeev Govila will answer your personal finance-related questions.
Missing the deadline for filing Income Tax returns can lead to consequences.
The market regulator had last month allowed bourses to set up debt segments to develop the country's languishing corporate bond market.
Insurance companies can invest more in infrastructure, housing sectors. Irda's move has come at a time when the shares of most of the infrastructure and housing companies are trading at their year lows on the exchanges and the sector itself is facing a dearth of financing.
Such products in insurance parlance are called acturial-funded products. The ban would require Aviva Life Insurance to withdraw all its 14 ULIP products, while Bajaj Allianz one of its ULIPs called Capital Unit Gain.
To enhance transparency in unit-linked insurance products and protect the interest of policyholders, the Insurance Regulatory and Development Authority has asked life insurers to disclose the underlying conditions and elements while advertising products.
"Disclosure norms for insurance coming out with initial public offer will come out next week," Insurance Regulatory and Development Authority chairman J Harinarayan told PTI.
IRDA eased norms by allowing PSUs and private companies with a capital of Rs 0.1-3 crore to bargain for a special discount of 5% in exchange of agency commission or brokers remuneration, when they cover their risks directly with a general insurer.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health insurance related queries.
Sanjib Jha, CEO, Coverfox Insurance Broking answers your health insurance related queries.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health insurance related queries.
According to data analysed by the Insurance Regulatory and Development Authority, the claim severity is 83 per cent higher in case of cashless mediclaim than reimbursement in the last two years.
Industrialist Anil Ambani on Tuesday said that his group was looking to unlock value in its life insurance venture through listing of Reliance Life as a separate company on the bourses.
Sebi's latest direction is against floating any new product.
The rules are being reviewed for the first time after the sector was opened to private competition at the start of the decade.
The insurance regulator wants the removal of the minimum entry capital requirement of Rs 100 crore for setting up an insurance business in a bid to facilitate the entry of multiple players such as standalone micro insurers and niche players. Debasish Panda, chairman, Insurance Regulatory and Development Authority of India (Irdai), said it should be left to the regulator instead to decide what should be the entry fee for interested players, depending on the size of the business and operations. According to the current norms, insurers are required to have a minimum paid-up capital of Rs 100 crore.
The regulator has asked the insurance companies to disclose their investment details for the September-November period of the current year. While seeking the information earlier this month, Irda had warned that insurers failing to submit the data would face penal action.
In what may translate into lower premium rates for traditional pension and annuity policyholders, the Insurance Regulatory Development Authority today said the capital requirement for these segments would be lowered from the end of this month.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health insurance related queries.
At a time when central banks around the world are getting empowered to deal with a range of market- and growth-related challenges, it is disturbing to see the government of India use the subterfuge of a weekend ordinance to diminish the status of the Reserve Bank of India (RBI).
Under the guidelines, life and non-life insurance companies can come together to offer this health-plus-life cover. Health insurance under this scheme will provide sickness benefits, medical, surgical or hospital expenses benefits, whether in-patient or out-patient, on an indemnity or reimbursement basis and the life insurer will offer a pure term product.
This is a major relief for life insurers, as pension products used to account for nearly 30 per cent of their sales before the new regulations came into force.
Harinarayan's name is under consideration, sources familiar with the development said. Going by the timing of recent appointment orders of the government, it is likely that it will announce his appointment late on Tuesday and keep everyone guessing. If appointed, Harinarayan will be the third chief of Irda after its inception in 1999. Like Rao, Harinarayan is an Andhra cadre IAS officer.
Here's a quick look at the likely changes proposed for selling unit linked insurance plans from September 1, 2010 and how they will impact investors.
Insurance regulator IRDA on Thursday asked life insurers not to levy any charge on customers if they surrender their policies from fifth year.
The Insurance Regulatory and Development Authority, in a circular to insurance companies, said it had been receiving many complaints that claims were being rejected by the insurers on the ground of delayed intimation and submission of documents.
In its draft guidelines, the Insurance Regulatory and Development Authority (Irda) has asked the country's life insurance companies to refile their existing products and withdraw the same by September 30.
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