Life Insurance Corporation of India has tied up with UTI Bank to provide their common customers the facility to pay premium by using the private sector bank's ATMs in the country.
The government hopes to use this data to assess the extent of financial support needed to recover from the pandemic.
What many don't realise is that including their spouse and children in their tax planning can enable them to reduce their tax burden legally.
India's largest life insurer, Life Insurance Corporation of India (LIC) reported encouraging performance in the January-March quarter (Q4) of FY24. Total annual premium equivalent (APE) was at Rs 21,180 crore, up 10.7 per cent year-on-year (Y-o-Y), with group APE of Rs 3,890 crore, up 60 per cent Y-o-Y, though individual APE contracted 2.1 per cent Y-o-Y. The participatory book contracted 20.2 per cent Y-o-Y, but the non-par grew by 206 per cent to Rs 3,740 crore.
If you find yourself stuck with a wrong policy situation, consult your financial planners or insurance advisors and then decide on continuing the policy based on the merits of the case and your finances, among other factors.
'There is more expansion in the industry happening in retail lines, so we will continue to focus on those lines.'
Insurance against terror will command a lower premium starting next fiscal, as the pool created in this respect has accumulated a large sum and received less claims.General insurers have agreed to cut down the premium charges for the Market Terrorism Risk Insurance Pool to up to 0.003 per cent of the sum insured for various categories of properties.
But, neither were the big companies interested in growing inorganically nor were the smaller ones ready to offer themselves for sale.
Any insurance policy cannot be treated as a 'buy and hold' strategy like one may want to do with their investments.
Following suggestion from Minister for Roads Nitin Gadkari, Centre seeks ideas from IRDAI and General Insurance Council on feasibility of providing insurance cover for retrenchment.
Tata AIG India Life Insurance has tied up with Fanklin Templeton Investments to introduce a new plan InvestAssure, a unit linked insurance plan to provide security cover with the opportunity to get high returns on insurance premium.
Under the scheme, which seeks to open 75 million accounts by January 26, 2015, an accident insurance cover of Rs 100,000 is provided with every RuPay debit card offered by the National Payments Corporation of India.
Caught between choosing to continue an inefficient policy and dropping it? We have some answers that will help better your insurance portfolio.
The life insurer tinkered with its business strategy - raised the share of protection plans and reduced dependency on ULIPs in the past four years.
A whole-life policy can also be a source of credit for other purposes.
Make a fresh start to this New Year with an appropriate insurance policy
We are, therefore, setting up more branches in more tertiary terms, like tier 2 and tier 3 terms. Going forward, that is where the growth will come.
The Budget has increased the limit of deduction for medical expenditure in respect of certain critical illness
The new service tax of 14% will jack up costs of shopping, travel, insurance premiums and property purchases
One might wonder what's wrong if one were to get the best of both worlds by buying one product. There are basically two problems... cautions Rajiv Raj
Much of the tardy reaction to competition is the result of LIC's legacy.
Its not so tough to improve insurance coverage at nominal cost.
Insurance company will bear the cost of digitising. It will in turn benefit from lower expenses on servicing policies.
It is important to know all the relevant clauses that could impact you before signing on the dotted line.
Combination of term plans and mutual funds will provide the same benefits.
Make sure that the waiting period on pre-existing diseases does not exceed two years. Avoid policies that come with room rent and ICU capping, suggests Sanjay Kumar Singh.
A term plan's premium is lower than that of a wholelife plan.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, answers your queries on HEALTH and AUTO insurance.
Earlier, the customer paid service tax on 1 per cent of the premium. From the next financial year, this will go up to 1.5 per cent.
It is that time of the financial year, when tax payers start getting active about investing in Section 80C instruments.
Accident insurance is the cheapest and smartest way of filling the insurance gap especially for the young.
General insurance industry grew by 21 per cent in April-May, which saw private player ICICI Lombard fast catching up with the top four public sector insurers.
In an interview with Shilpy Sinha and Sidhartha, LIC Managing Director DK MEHROTRA discusses the public sector player's strategy.
Most customers still don't understand this concept and are unable to benefit from it.
There are few lapses in the healthy insurance proposals.
'Margins will be an outcome of that. They will likely remain somewhat range-bound.'
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