Life insurance companies would not be allowed to sell Ulips with annual premiums exceeding Rs 50,000 for non-single premium policies and Rs 1,00,000 for single premium polices via telemarketing.
Travel insurance policies do not generally cover adventurous or sporting activities such as bungee jumping, paragliding, mountain climbing, or white water rafting, which fall under hazardous activities.
Buyers of unit-linked insurance policies can now heave a sigh of relief. The insurance regulator, Insurance Regulatory and Development Authority of India has issued a standard format that will simplify things for the policyholder and arrest the rampant mis-selling.
With the Union Budget introducing service tax on hospitals and health check-ups, your medical bills are likely to get higher.
Avoid investing in a new ELSS scheme each year. Stick to one well-chosen scheme to avoid clutter in your portfolio.
Children's plans contribute close to 10 per cent to the total premium collected through the 50-odd life insurance products across the country.
D K Mehrotra, chairman, LIC, tells Business Standard the proposed new product guidelines need to be tailored with some caution.
Investors are divided on their opinions about the ULIP plans. This article is the first in the series that discuss ULIPs in detail.
Cut throat competition between public sector units and private companies may push up general insurance business by over 25 per cent to Rs 15,000 crore this fiscal.
EPFO manages a corpus of over Rs 8.5 lakh crore and its subscribers' base is over five crore at present.
LIC public offer, the country's biggest-ever IPO, on Wednesday opened for subscription for retail and institutional investors. The government aims to generate about Rs 21,000 crore by diluting its 3.5 per cent stake in the insurance behemoth. The LIC initial public offering (IPO), now open for retail and institutional investors, is set to close on May 9. LIC has fixed the price band at Rs 902-949 per equity share for the issue.
The most important of all is to save you from potential financial risks...
There is no reason for a child with no dependents to have insurance because insurance is put in place to provide for the child in the event of a parent's untimely death and not the other way around, says Amar Pandit.
Thomas Mathew T, managing director, tells Manojit Saha and M Saraswathy about the LIC's strategy and growth plans.
'We like certain stocks from banking, insurance, retail, hospitals and capital goods.' 'Though some of these stocks may seem expensive, they will compound well over the long term, thus justifying their current multiples.'
The growth in the first year premium (FYP), particularly in unit-linked insurance policies (ULIPs), of life insurance players, has been largely unaffected by the unprecedented stock market volatility in the last quarter. Sources at the Life Insurance Corporation indicated that the market conditions have not impacted the sale of ULIP products and the business growth was absolutely in sync with expectations. SBI Life registered a growth of around 90-95% in the quarter ended Mar
The policies that have lapsed for more than two years and were not allowed to be revived earlier can also be revived now, LIC said in a statement.
Star Union Dai-ichi expects to break even within five years of starting operations.
'The entire value of LIC is created by its shareholders because after the initial invest net of Rs 5 crores in 1956, the government has not given any additional capital to the LIC.' 'If the corporation has expanded and emerged as the biggest financial institution in the country, it is only because of the policyholders.'
Life Insurance Corporation of India on Thursday said it has crossed the 1-crore (10-million) mark in sales of new policies for the current fiscal on November 15.
India's largest life insurer, Life Insurance Corporation of India (LIC), has crossed the mark of 1-crore individual policies for the current financial year, with first premium income of Rs 15,917-crore (Rs 159.17 billion) in the fortnight ended August 14, 2010.
'The government wants foreign companies to capture the insurance market.'
Here are all the things you need to know so that you worry about nothing but your grades, says Mahavir Chopra. Read on!
'Non-par plans returns are not market-linked. Hence, they can offer guaranteed returns.'
Here is some good news for students going abroad. Medical insurance comes cheaper in India and sometimes, with better coverage.
So how does one go about comparing ULIPs vis-à-vis tax-saving funds? An illustration will help in putting things in perspective.
Check out what to look for while zeroing in on a term plan.
LIC public offer will remain open for subscription even on weekend to enable people to participate in the mega IPO of the state-owned insurer. This is perhaps for the first time the special dispensation is granted to any public offer. The issue period also includes bidding on Saturday, May 7, 2022 and Sunday, May 8, 2022, LIC informed exchanges. Earlier bidding was allowed on May 7 (Saturday) only.
The Left parties, Janata Dal (United), and two other Opposition members on the committee opposed raising the foreign direct investment limit in the insurance sector from 26 per cent to 49 per cent.
Manik Nangia, Director and Chief Digital Officer, Max Life Insurance emphasises the importance of child insurance plan.
Follow these steps diligently to ensure that there isn't any hardship when your parents fall ill
Raising social security pension amounts, increasing financial assistance given under the 'Rythu Bandhu' investment support scheme for farmers and providing LPG cylinders at Rs 400 each are some of the promises made by the ruling Bharat Rashtra Samiti for the upcoming assembly elections in Telangana.
Advisors and agents known to you personally can also sell wrong policies.
This is a single premium non-linked insurance plan where the risk cover is five times of premium chosen by the customer and offers guaranteed returns at maturity.
Unit-linked plans or Ulips continue to be expensive compared to other instruments, say certified financial planners.
With the public sector non-life insurers rationally pricing risks, discounts on property insurance has come down by 20-25 per cent.
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