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 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.
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.
'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.'
'In life insurance, it is about creating distribution capacity and solutions for customers. We are constantly working on that.'
'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.'
Private insurance firms say, over the past few years, they have been investing on digital technologies to reach semi urban and rural areas.
Raise the amount of life cover you own if your liabilities and responsibilities have increased during the year, says Arvind A Rao.
Deal with current owner Exide may be signed next week
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
HDFC Standard Life Insurance has posted a 65 per cent growth in premium income at Rs 66 crore (Rs 660 million) during the first half of this fiscal, its CEO Deepak Satwalekar said on Tuesday.
When Life Insurance Corporation (LIC) of India gets listed on the bourses next month, it will be among the biggest listed life insurers globally in terms of market capitalisation (m-cap), assets, and revenue, but will also be among the least profitable and capitalised among its peer group. A big gap between LIC's m-cap, profits, and networth (shareholder capital) will make it one of the priciest insurers globally, in terms of price-to-earnings (P/E) multiple and price-to-book value (P/B) ratio. LIC also lags behind its Indian listed peers in terms of profit and networth.
Your entire contribution can go down the drain if policies are not renewed on time
There is nothing to worry about while buying an online life insurance plan because the benefits you get are completely genuine and the plans are the same that are available offline, just that you can get them at a much reasonable rate and so you must take advantage of the benefits they provide.
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.
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
Buy from an established agent rather than a novice who may not be around when you need his assistance.
Term life insurance policies are also called 'pure-risk policies' and 'pure life policies'; they have no savings or investment element in them; the premium includes only the cost of buying the life cover. Here are 6 term insurance policies compared on 5 parameters for you to choose from.
A combination of ELSS or PPF with a term plan offers better coverage and returns
'Pandemic has triggered interest and awareness among the people about the need for healthcare.'
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
HDFC Standard Life Insurance Company Ltd expects a first premium income of Rs 300 crore (Rs 3 billion) from individual policies, even as it plans to raise its capital base by Rs 75-80 crore (Rs 750-800 million) in the fiscal 2003-04.
Younger people, who usually have a longer investment horizon which allows them to handle the interim volatility, may go for them.
Choosing a term insurance policy is an economical way of getting life insured but choosing the most economical term insurance policy will help you to get life insurance on a tight budget also
Irda nod to policies with flexible premium, sum assured and tenure.
'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.
'We have opened 100 branches in the last one and a half years. Our manpower is also in place.'
The amount is almost double the Rs 220 crore (Rs 2.2 billion) that a consortium of Bank of Baroda and Andhra Bank earned for its life insurance tie-up with the UK-based wealth and investment company, Legal & General Group (see table). The entry premium is a result of regulations that require foreign insurers to tie up with Indian partners. SBI will hold 74 per cent in the non-life insurance company and IAG the remaining 26 per cent.
There are certain plans that you can opt for that also cover dental treatments, says rediffGURU Sanjib Jha.
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.
Irdai had introduced two Covid specific products in the market - Corona Kavach and Corona Rakshak - that saw huge acceptance among the consumers as these products had lower premiums.
From April 1, when we buy insurance for a car or take out a health cover, insurance companies can offer a product totally customised for us.
People who have recovered from coronavirus infection will have to wait for up to three months before they can take a new life insurance policy, with insurers making the waiting period requirement applicable for coronavirus cases like other ailments. As a standard practice, all life and health insurance companies require people to wait for a specific period with respect to certain ailments and diseases to gauge the risk before selling a policy. This condition of waiting period for people who have recovered from coronavirus infection will be applicable only for life insurance policies.
'Splitting must result in tangible benefits for the customer, otherwise it will only mean more work for them in maintaining the policy and for their nominees.'
'We do not believe in fire sale. We don't do it.'
Separate investment limits have been proposed for life and health insurance premium.
This question remains unanswered most of the time due to lack of knowledge or guidance. No more!
SBI Life Insurance reported a weak performance in Q2FY25. The annual premium equivalent or APE grew 3 per cent year-on-year (Y-o-Y) to Rs 5,390 crore. For the first half of financial year 2025 (H1FY25), it grew 9 per cent Y-o-Y to Rs 9,030 crore.
State-owned Life Insurance Corporation of India (LIC) has realigned its commission structures for its distributors in accordance with new surrender value norms but has no plans to introduce any "clawback", it said in a post-earnings analyst call on Friday. "It depends on our experience because the new products have been filed from October 1," said Siddhartha Mohanty, managing director and chief executive officer. The insurance regulator has revised the surrender value norms, and the revised ones came into effect on October 1.
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