The main concern among industry and market experts is that the governance in these companies needs to be strengthened and the focus on social insurance has to come down.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Presumably hurt on their balance sheets by the allegedly inflated bills for medical costs of people covered by cashless mediclaim facilities, these insurers have pruned the list of hospitals in four large cities for providing this facility with effect from this month.
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.
Apart from rail mishaps, the coverage would take care of terrorist attacks and accidental fall of a passenger from a train and normal accidents, riots, robbery and dacoity
Younger people, who usually have a longer investment horizon which allows them to handle the interim volatility, may go for them.
The Bill will come up for discussion in the upcoming winter session of the Parliament.
The change in policy for the three companies, from listing to merger, shows the level of discomfort within the government about their ability to take on the expanded load for insurance coverage with their current financial strength, including the massive premium and claim settlement cover under the proposed universal health coverage plan announced in Budget 2018.
Senior Congress leader and former Rajasthan chief minister Ashok Gehlot said the proposed scheme would be a game-changer as it will provide comprehensive health coverage to families, covering medical expenses for critical illnesses, hospitalisations, and treatments.
'Because it is the only public sector company in this sector, currently.'
Air India sale will give a boost to India's privatisation drive, the Economic Survey said on Monday, as it suggested redefining the public sector role in business enterprises to encourage private participation in all sectors. The government earlier this month handed over ownership rights in national carrier Air India to Tata Group for Rs 18,000 crore. The amount includes the takeover of the debt burden of Rs 15,300 crore and another Rs 2,700 crore in cash.
The Insurance penetration in India is very low at 3.9 per cent.
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.
According to the third batch of supplementary demands for grants tabled in the Lok Sabha, approval is being sought for gross additional expenditure of over Rs 1.58 lakh crore.
The government has not set up any committee to probe allegations a US short seller labelled against the Adani Group, but stock market regulator SEBI is investigating market allegations against the group, the Lok Sabha was informed on Monday. A separate investigation into imports of Indonesian coal by the conglomerate hasn't reached finality, Minister of State for Finance Pankaj Chaudhary said. Lok Sabha saw several questions being put by MPs to the government on the Adani issue, which were replied through written responses by the minister.
The smartphone has become our buddy and we owe it a good insurance policy to ensure it's protected at all times, says Naval Goel
Even as the Group of Seven (G7) price cap on Russian crude oil enters into force as of December 5, India has been assured it will continue to receive the existing deep discounts on Russian oil, for the time being, informed officials. "We have been assured by our Russian partners of uninterrupted crude supplies at the existing rates for the time being. "There were a lot of reports of changes in (India's) buying patterns after the global price cap took hold.
The previous highest divestment proceeds for the first half of a year was around Rs 21,000 crore in 2016-17.
Health insurance expert Anil Rego in an online chat with readers answers health insurance queries.
Naval Goel explains all that you wanted to know about life insurance but didn't know who to ask
Your entire contribution can go down the drain if policies are not renewed on time
A quick snapshot about the fundamentals of the concept of life insurance.
Cost of the diagnostic test for Covid-19 has been fixed at Rs 4,500 per test by the government. Hospitals, however, do not think this is feasible.
Naval Goel of PolicyX answers some important questions before buying insurance policies
You can exit Ulips after five years.
Union Minister Nitin Gadkari on Friday said he has asked US-based Tesla several times to manufacture its iconic electric vehicles in India, while assuring that all support will be provided by the government to the company. Addressing 'India Today Conclave 2021', Gadkari further said electric cars manufactured by Tata Motors are not less good than electric cars manufactured by Tesla. "I have told Tesla that don't sell electric cars in India which your company has manufactured in China.
Child insurance plans can be broadly classified into two types: unit linked and traditional.
It's an undeniable fact that after enactment of GST, buying insurance will become a little expensive impacting your term plans, health plans and motor insurance plans the most. But you should not ignore the importance of insuring your life, health, vehicle, says Harjot Singh Narula
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
The right investment at the right age will help you enjoy a secured post retirement life.
The two-day nationwide strike call, demanding early wage revision among other issues, was given by United Forum of Bank Unions that comprises nine national unions.
To curb mis-selling of policies and rationalise commissions, radical changes have been proposed to help investors.
Initial public offering (IPO)-bound Life Insurance Corporation (LIC) of India's assets under management (AUM) increased to Rs 38 trillion as of September 2021, compared with Rs 37 trillion as of March 2021, said sources in the know. Its AUM is almost 3x the AUM of all the private life insurers in the country and over 15x more than the AUM of the second largest life insurer, SBI Life, as of September 2021. SBI Life's AUM was approximately Rs 2.4 trillion as of September 2021, said sources.
'Defence funding is channelled to State-owned research organisations where scientists are merely bureaucrats holding meetings and sending out minutes of meetings and press releases, but have long ago stopped any innovative work.' 'Unless this tragedy is fixed, India's chances to create world-conquering and job-creating new industries are slim,' says Ajit Balakrishnan.
Cover inadequate for even one refinery.
'Give cash assistance of Rs 75 per person per day and an android phone and you will see the economy reviving.'
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