LIC is currently allowing customers to revive policies that have lapsed for more than two years.
The costs of being under-covered are so high, that they're just not worth it.
The Hinduja group is learnt to have backtracked from making a minimum Rs 8,950-crore offer for Reliance Capital (RCap) - a deal that it had belatedly put forth in December, after Torrent Investments emerged as the highest bidder for the bankrupt firm in the challenge process. The Hindujas' latest move has put Indian lenders, with an exposure of Rs 24,000 crore, in a spot as it was the former's revised offer that led to a call for a second auction and litigation by Torrent, which had placed a bid of Rs 8,649 crore in the first auction. Torrent has moved the Supreme Court and plans to wait for the apex court verdict before participating in any fresh auction. A banking source said there was an informal meeting of a few lenders of Reliance Capital with the bidders - the Torrent group and the Hinduja group on Friday when the latter changed its stand. The meeting of RCap's committee of creditors (CoC) is scheduled for Monday.
G Murlidhar, MD and CEO, Kotak Mahindra Life Insurance Company explains how to make smart financial decisions for better gains.
Tax benefit on WFH expenses, regulatory clarity on cryptos figure high on their wish list.
Life insurers are launching these again. Invest if you are conservative.
SKS Microfinance, one of the country's leading microfinance companies, has extended life insurance cover to about one million poor women in India in states such as Andhra Pradesh, Orissa, Karnataka, West Bengal, Rajasthan, Uttar Pradesh and Madhya Pradesh.
It's best to stick with a term plan and invest the balance in a low-cost investment.
Planning to buy a child insurance plan? Know these myths to make an informed decision, says Yashish Dahiya
'Set aside around six months' monthly expenses for emergencies.' 'Keep this money in safe and liquid options, such as liquid funds and fixed deposits.'
An excerpt from 'Money Smart: The Indian Woman's Guide To Managing Wealth' by Reenita Malhotra Hora and Divya Vij that reveals various options to help you save tax as well as invest for creating long-term wealth.
These products are extremely transparent and are the lowest charged products in the insurance space. The policyholder has to only pay the fund management charge. Hence, from the cost side, ULIPs are very competitive.
'In FY21, as of October, LIC has booked a profit of Rs 18,800 crore through sale of equities.'
The Centre's decision to not reduce the face value of shares of India's Crown Jewel - Life Insurance Corporation (LIC) - was taken to make shareholders feel they are acquiring something 'precious'. The face value of LIC's shares was retained at Rs 10, quoted in the draft prospectus, as it would also align the insurer's shares with those of its private sector peers. Even as the LIC Act was amended to "consolidate or reduce the nominal or face value of the shares", with the Centre's approval, it was decided to stick to the current face value of shares at Rs 10 without splitting the existing 6.32 billion shares.
Without them your financial security is at a huge risk...
'When buying a term insurance plan, you need to visualise today what could happen to your family tomorrow in your absence,' suggests Mahavir Chopra, director-health, Coverfox.com.
Do you have financial planning queries? Ask rediffGURU Anil Rego.
Unlike other health insurance policies, which mostly covers hospitalisation expenses alone, the specialised cover is likely to include the cost of treatment during quarantine and payment of cash for incidental expenses.
In order to push more long-term products, insurers are trying to push long-term unit-liked plans by giving incentives to agents who sell Ulips with higher tenure.
Life Insurance Corporation of India (LIC) reported weak growth through H1FY24 but it witnessed a boost in embedded value (EV) due to equity-market performance. But concerns regarding its stock include loss of market share as it is outpaced by private sector rivals, sticky operating expenses (reduced slightly year-on-year but up in Q2FY24 versus Q1FY24), and high sensitivity of embedded value to equity volatility. Traders may also factor in the likelihood of another stake sale by the Government of India.
There may be situations when a general life insurance policy may not be adequate to cover certain life uncertainties.
Shikha Verma explains how child insurance plans can help you achieve your child's financial dreams.
As long as the money has been 'paid or deposited in the previous year', an assessee should be eligible for tax relief, says Harsh Roongta.
Encouraging domestic financial savings through focused measures would help mobilise long term resources for funding infrastructure and economic development.
The benefit offered under small-ticket insurance may not be huge, but it is better to have cover, suggests Sarbajeet K Sen.
Here's to being a responsible insurance buyer
Keep a check on the waiting period and exclusions while buying a health insurance plan and see if it fits your requirements.
in the longer run, there is no substitute for a standard term, accident, and a comprehensive health cover, with adequate sum insured that will give you round-the-clock and year-after-year coverage.
In the wake of the natural disaster in Uttarakhand, the proposal for 'catastrophe insurance' is in spotlight.
Shares reserved for Qualified Institutional Buyers (QIB), including banks and mutual funds in the LIC's public offer were subscribed fully on Monday morning, taking the overall subscription of the issue to a little over 2 times. Against 3,95,31,236 reserved, 4,61,62,185 bids were received, reflecting a subscription of 1.17 times, according to data posted on stock exchanges at 12:12 pm. Non institutional investors' portion was subscribed 1.38 times.
Given the high cost of treating cancer and the reasonable premium rates at which these plans are available, one should opt for a cover at the earliest.
Are you ready to take control of your financial future? Ramalingam Kalirajan offers a step-by-step guide to calculate exactly how much money you will need when you enter your golden years.
Before you buy a cashless benefit plan at lower premiums, check if you can make full use of it. Most don't even exhaust the entire benefit.
Home loan cover from the lender may not be the best option
At its heart, the issue is more than compliance. It is the risk of possible breakdown of a strong nexus between insurance firms and motor car dealers that makes the business the top earner for the former.
rediffGURU Sunil Lala answers your personal finance-related queries.
Life Insurance Corporation, the country's largest insurer, has consolidated its position by recording 178 per cent increase in premium collection during April-September this fiscal
LIC's public offer, the country's biggest-ever IPO, witnessed full subscription of the retail portion on day three on Friday. The overall issue was subscribed 1.38 times, according to data posted on stock exchanges on 7 pm. Against 16,20,78,067 shares on offer, 22,36,98,915 bids were received. However, the Qualified Institutional Buyer (QIB) and Non-Institutional Investor (NII) portions are yet to be fully subscribed.
LIC's public offer, the country's biggest-ever IPO, was fully subscribed on the second day of bidding on Thursday. Against 16,20,78,067 shares on offer, 16,68,60,765 bids were received -- translating into a subscription of 1.03 times, as per data on stock exchanges as of 7 pm. However, the Qualified Institutional Buyer (QIB) and Non-Institutional Investor (NII) portions have received a tepid response so far.
Use whole life term policies for legacy planning. By doing so, your annual outgo will come down and returns will improve, suggest Chirag Madia and Tinesh Bhasin.
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