Akshay Kumar has been personally funding medical insurance premiums worth Rs 6 crore to Rs 7 crore annually for over 650 stuntmen and their families for the past eight years.
Union Bank of India has inked a pact with SBI Life Insurance Company Ltd to offer a life insurance cover to the former's home loan customers on a group basis.
Without doubt, insurance products would rank among the most aggressively sold ones during the tax-planning season.
Some private life insurance companies can be hard-pressed for capital to keep pace with business growth. An annual growth of 15-20 per cent has been projected for insurance.
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.
'Professor Kitagawa is an exceptional researcher, a good teacher and above all a great person.'
Interoperability with other insurance companies - apart from banks, medical centres, among others - would be the eventual goal
Insurance companies are seeking a separate deduction limit of Rs 1 lakh for insurance premium payment under Section 80C of the Income Tax Act in the upcoming Union Budget to bring in more people under the ambit of insurance. The insurers also want reduction in the goods and services tax (GST) rate of 18 per cent currently applied on health insurance products to 5 per cent to make such products more affordable to common people. Finance Minister Nirmala Sitharaman will present the Union Budget for 2022-23 on February 1.
More than 25 crore workers engaged in sectors ranging from banking, insurance, postal to coal mining, highway and construction are expected to go on a nationwide general strike on Wednesday, potentially disrupting services across the country. A forum of 10 central trade unions and their associates has called for a general strike or 'Bharat Bandh' to "oppose the anti-worker, anti-farmer and anti-national pro-corporate policies of the government".
The share of Life Insurance Corporation of India (LIC) in monthly new business premium (NBP) in the life insurance sector declined to 58.50 per cent in September 2023 from 68.25 per cent in September 2022 -- a drop of 975 basis points -- owing to shortcomings in the product and distribution side of business. However, the market share saw a marginal uptick from the 57.37 per cent recorded in August this year. According to the monthly business data released for September 2023 by the Life Insurance Council, the NBP of LIC up to September 2023 stood at Rs 92,462.62 crore as compared to about Rs 1.25 trillion in the same period a year ago.
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
Anil Ambani's Reliance Infrastructure Ltd has slashed its standalone debt by 87 per cent to Rs 475 crore after it cleared outstanding dues of Life Insurance Corporation of India, ICICI Bank and other lenders, the firm said on Wednesday. In stock exchange filings and press statements, Reliance Infrastructure said its standalone external debt has reduced from Rs 3,831 crore to Rs 475 crore. "Consequently, the net worth of the company will stand at Rs 9,041 crore."
Come October, life insurers may have to tighten their underwriting standards further for retail term plans at the behest of one of the largest reinsurers in the Indian insurance market, Munich Re. According to a source aware of the development, "Munich Re has been studying long-term mortality trends for the past few years, and has suggested some tightening in the underwriting process." "As far as financial underwriting is concerned, the reinsurer has suggested that insurers should ask for additional documents. "For example, apart from income proof, they can ask for bank statements of the prospective customer before issuing policies," added the source.
Organise your PAN, Form 16, Form 26AS, AIS, and all other proofs before e-filing.
2.75 million of the 3 million Covid-related health claims were settled.
'We do not believe in fire sale. We don't do it.'
The online channel has only been successful in making inroads in metro cities.
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.
'The terrorists included underage boys around 15 years old. There were at least four of them. They were taking selfies during the attack and had cameras mounted on their heads'
IndusInd International Holdings chairman Ashok Hinduja on Tuesday announced the acquisition of Reliance Capital, completing the three-year-long resolution process of the debt-ridden company. IndusInd International Holdings Ltd (IIHL) has transferred the bid amount to the escrow account of the lender, and the takeover of the management from the Administrator will happen on Wednesday.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
The Insurance Regulatory Development Authority of India (Irdai), the regulator for insurance companies, is set to allow the insurers to offer wellness programmes along with life insurance policies that can earn reward points for the policyholders. These reward points can be redeemed for getting a discount during renewal. The insurance regulator has circulated draft guidelines to insurance companies for feedback before issuing the final guidelines, as is the norm.
'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.'
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.
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.
An individual can avail tax deduction on the amount spent during the year on a deferred annuity for self, spouse, or child.
The average ticket size of retail health insurance in India has increased by nearly 48 per cent over 6 years due to elevated medical inflation and increased demand for higher coverage policies among policyholders. According to data by online insurance broker PolicyBazaar, the average ticket size of retail health insurance in India has increased to Rs 26,533 so far in FY24, up 48.22 per cent from Rs 17,900 in FY19.
Buy from an established agent rather than a novice who may not be around when you need his assistance.
The BCCI invited bids for the Indian cricket team's title sponsorship rights after fantasy sports giants Dream11's pullout.
The 100-stock largecap basket of Mutual funds (MFs) has seen a major reshuffle in the latest semi-annual reclassification with seven midcap stocks and four new listings earning the largecap tag. According to a report from Nuvama Alternative & Quantitative Research, the midcap stocks that have been upgraded include CG Power, Rail Vikas Nigam, ICICI Prudential Life Insurance, Polycab India, Indus Towers, Cummins India, and Info Edge.
'We have opened 100 branches in the last one and a half years. Our manpower is also in place.'
Life Insurance Corporation of India's (LIC) annualised premium equivalent (APE) growth remained weak in the fourth quarter of the financial year 2024-25 (Q4FY25) and flat in FY25, but management expects growth to rebound in FY26. The focus remains on improving product mix by increasing share of non-participating or non-par products in the individual APE.
'In life insurance, it is about creating distribution capacity and solutions for customers. We are constantly working on that.'
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.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
State Bank of India (SBI), the largest lender in the country, has launched a share sale to institutional investors to raise upto Rs 25,000 crore, the biggest qualified institutional placement (QIP) so far by an Indian firm, and has set a floor price of Rs 811.05, which is at a 2.5 per cent discount on Wednesday's closing price.
The strategic portfolio should be tinkered with only once in two or three years. Ideally, the trading part should not be more than 5-10 per cent of your total portfolio.
'The brand, the team, and the people have to make the transition from playing league matches to Test matches.'
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