Buying term insurance is not a one-size-fits-all purchase. It requires some level of deliberation to ensure that the policy aligns with your needs, life stage as well as future circumstances, says Casparus Kromhout, MD & CEO Shriram Life Insurance Company
It is ideal to purchase life insurance as soon as you become financially independent.
To ensure a glitch-free rollout of the next-generation GST with reduced rates and lesser slabs, Finance Minister Nirmala Sitharaman chaired three separate meetings to assess GSTN's preparedness and the time it would take to implement technological changes required in the software systems.
The Union Cabinet on Wednesday gave its nod for amendments in the Insurance Act, paving way for 74 per cent foreign direct investment in the sector. Currently, the permissible FDI limit in the life and general insurance stands at 49 per cent with ownership and management control with Indian. According to sources, the Cabinet in its meeting has approval for amendments in the Insurance Act, 1938.
Move seen as countering fund houses' plan to sell life covers.
A prudent guideline for self-employed individuals is to target at least 10 to 15 times their actual annual income when determining life insurance coverage.
Here's how you can make buying insurance the cakewalk that it is, says Anit Jain
General insurance companies are likely to see a surge in demand for health insurance in the coming months due to falling air quality in the country. The health insurance segment has registered a strong growth after the pandemic due to higher awareness. In the first half of financial year 2023-24, the segment grew by 24.4 per cent to Rs 54,713.52 crore from Rs 43,981.54 crore in H1FY23, driving growth of the non-life insurance industry.
HDFC Life Insurance Company (HDFC Life) delivered a strong performance in the December quarter of the current financial year (Q3FY25), exceeding market expectations with robust earnings growth. The company reported a 13.7 per cent year-on-year (Y-o-Y) increase in net profit to Rs 414.9 crore in the quarter. The value of new business (VNB) rose 8.6 per cent Y-o-Y to Rs 930 crore, compared to Rs 856 crore in the corresponding quarter of the previous year.
Firms in which IP is critical, such as pharma and research and knowledge-based organisations, were taking the lead in seeking cyber covers to protect their computer systems from hack attacks
It is important to look at factors like claim settlement ratios, persistency ratios, the extent of premium increase with age, insurer's reputation, etc, says Vaidyanathan Ramani.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
In the June quarter, growth in the segment stood at around 4 per cent, with premium collection at Rs 15,724 crore against Rs 15,074 crore in the same period of FY19. This was the lowest growth in the last five quarters, starting from Q1FY19.
State Bank of India (SBI) is asking prospective partners for its general insurance foray to pay it Rs 300 crore (Rs 3 billion) to Rs 350 crore (Rs 3.5 billion) as entry premium, insurance industry sources said.
The growth in new business premium for private sector players slowed down to 53.6 per cent y-o-y for March 2008 compared with 90.5 per cent y-o-y for the period beween April 2007 and February 2008. That dragged down the growth for the full year of 2007-08 to 83.7 per cent from 103.8 per cent in the prvious year. The slowdown was more marked for public sector Life Insurance Corporation.
State-owned Life Insurance Corporation (LIC) announced on Monday that it had signed up tech giant Infosys to develop a next-generation digital platform that will act as the foundation for new high-value business applications, such as customer and sales super apps, portals, and digital branches. The financial terms of the deal remain undisclosed. The tie-up with Infosys is part of LIC's "long-drawn" strategy, said a senior executive of India's biggest insurer, who noted that the IT giant "won the bid to develop the next-generation platform through a request for proposal (RFP) process".
The Group of Ministers (GoM) on goods and services tax (GST) rate rationalisation, which convened in Goa on Wednesday, reviewed the GST rates for over 100 items, including textiles, handloom goods, agricultural products, fertilisers, and educational materials. However, no consensus was reached on any of the items, with further discussions scheduled for next month in Delhi.
It is important to know the right details about your insurance policies while avoiding these mistakes, says Harjot Singh Narula.
'The incentives to switch to the new tax regime... are viewed as a negative due to potential loss of customers who buy policies for saving tax.' 'The tax-saving value proposition for the sector reduces.'
An individual can avail tax deduction on the amount spent during the year on a deferred annuity for self, spouse, or child.
Maternity expenses can be high, with the costs covering everything from prenatal visits to the hospital delivery charges and post-natal care but choosing the right maternity cover can help overcome these issues, says Bhaskar Nerurkar
These offer great scope and flexibility when you fall upon hard times, says Harjot Singh Narula
'Ek baar aap GST dekh lo!' - Prime Minister Narendra Modi's gentle nudge to Finance Minister Nirmala Sitharaman in December last year sparked the beginning of a mammoth exercise to overhaul the tangled goods and services tax regime. And the final outcome is a significantly simplified system with lower tax rates and easier compliance for businesses.
'As on August 25, 94,753 Govindas have been insured.' 'This number is expected to rise further, as proposals for 5,000 to 8,000 Govindas are received daily.'
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
Under the Goods and Services Tax, effective midnight of June 30, most of the financial services would attract a higher tax of 18 per cent as against 15 per cent as of now.
Here are some major benefits that come along with a child insurance plan
'In life insurance, it is about creating distribution capacity and solutions for customers. We are constantly working on that.'
To determine the amount of coverage one should purchase, first add up all of your financial obligations, such as student loan, credit card debts and your mortgage balance.
Bear in mind that the amount you get paid depends on the stage at which cancer is detected, reveals Sanjay Kumar Singh.
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.
In 2023-2024, 95 scheduled commercial banks received over 10 million complaints from their customers. The process of KYC at many banks has become 'HYC' -- harass your customer, points out Tamal Bandyopadhyay.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The older you get, the more premium you pay for buying life insurance. So it is better to buy a life insurance plan before your next birthday and save money on premium paid.
Private insurance firms say, over the past few years, they have been investing on digital technologies to reach semi urban and rural areas.
'We have opened 100 branches in the last one and a half years. Our manpower is also in place.'
The total benefits paid by private life insurance companies to policyholders rose by 5.98 per cent to Rs 1.57 trillion during 2022-23. This figure stood at Rs 1.49 trillion in the corresponding year-ago period. On the other hand, Life Insurance Corporation of India (LIC) paid out 4 per cent fewer benefits at Rs 3.39 trillion from Rs 3.53 trillion in 2021-22.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances