Carefully observe these important steps before you hit 'buy' to buy an online term insurance policy.
While the proposed new tax regime is optional for taxpayers, the finance minister has said the government eventually wants to do away with all exemptions with a lower tax-rate simplified structure.
The most striking features of this Budget was its focus on simplification and improving the ease of doing business in India, asserts Kaku Nakhate.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, will answer your queries on HEALTH insurance and AUTO insurance.
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
Three key instruments that can help you meet your financial goals, while also allowing you to enjoy tax deductions are ELSS, term cover and health cover.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Policyholders would be given an option to check whether any amount is lying due with insurance firms
For the vehicle-owner, the overall cost of buying a car can go up by 2% to 3$%. For two-wheelers, the cost can rise by 1% to 1.5%
'Splitting must result in tangible benefits for the customer, otherwise it will only mean more work for them in maintaining the policy and for their nominees.'
Early-bird results for the January-March 2025 quarter (Q4FY25) suggest a slowdown in earning growth for India Inc, despite a benign cost environment that has led to an improvement in margins. The combined net profit (adjusted for exceptional gains and losses) of 175 early-reporting companies rose by 3.8 per cent year-on-year (Y-o-Y) in Q4FY25, marking the slowest growth in 17 quarters.
'Choose an FD tenure that provides a balance between returns and the horizon for which you can invest.'
'If you are investing in a Ulip for returns, go for a type I Ulip.' 'If you are investing for insurance cover as well, type II is better.'
Stopping SIPs during a downturn undermines the benefit of rupee-cost averaging.
When Life Insurance Corporation (LIC) of India gets listed on the bourses next month, it will be among the biggest listed life insurers globally in terms of market capitalisation (m-cap), assets, and revenue, but will also be among the least profitable and capitalised among its peer group. A big gap between LIC's m-cap, profits, and networth (shareholder capital) will make it one of the priciest insurers globally, in terms of price-to-earnings (P/E) multiple and price-to-book value (P/B) ratio. LIC also lags behind its Indian listed peers in terms of profit and networth.
Private players continued to show strong momentum in the life insurance individual new business segment during August, 2023. On an aggregate, the industry registered 14 per cent growth year-on-year (Y-o-Y) compared to 15 per cent in July '23. Private players were up 21 per cent Y-o-Y, up from 16 per cent Y-o-Y in July '23, while public insurers' growth was muted at 3 per cent.
In response to the panic triggered by Trump's trade policies, the RBI net sold approximately $43 billion in the second half of FY25 to curb volatility, as the rupee plunged to a low of 87.95 per dollar in February this year.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The National Commission noted that if the policyholder wanted reinstatement, he should have made a written request and should have also cleared the premium till that date, but no such request had been made.
Market downturns or regulatory shifts can reduce liquidity, making it harder to buy or sell assets when needed.
India's largest IT services company TCS on Thursday reported an 11.95 per cent jump in net profit at Rs 12,380 crore in the December quarter while the overall workforce reduced by over 5,000 employees. The Tata Group company had reported a net profit of Rs 11,058 crore in the year-ago period, and Rs 11,909 crore in the preceding September quarter. The company's revenue grew 5.6 per cent to Rs 63,973 crore as against Rs 60,583 crore a year earlier.
'The intensity and frequency of heatwaves will be much higher than in previous years over Punjab, Haryana, Rajasthan, Gujarat, Madhya Pradesh and Odisha.'
'The impact of CBDC on deposits and deposit insurance is largely unknown.'
Term life insurance policies, and senior citizens' health insurance premium are likely to be exempted from GST as most members of a state ministerial panel favoured cutting taxes to benefit the common man, an official said on Saturday. The GoM to decide on GST on health and life insurance premiums in its meeting on Saturday decided to exempt GST on premiums paid by individuals, other than senior citizens, for health insurance with coverage of up to Rs 5 lakh. However, 18 per cent GST will continue to be levied for health insurance cover of over Rs 5 lakh.
Here's how you can make buying insurance the cakewalk that it is, says Anit Jain
If you quit or change jobs in your 40s, buying an individual term plan will be expensive. You might not even get one if you have health problems, says Priya Nair
Novice investors must understand that volatility is an inherent part of equity markets and learn to navigate through such phases.
Irdai on Friday extended the 'use and file' procedure for the most of the life insurance products, thereby allowing insurers to launch new products without prior approval of the regulator. This comes days after Insurance Regulatory and Development Authority of India (Irdai) extending similar relaxations to health insurance products as well as general insurance covers. In a press release, Irdai said that in its continuous endeavour towards the reform agenda taken up towards having a fully insured India, it has extended the 'use and file' procedure for most of the life insurance products.
ELSS investments require a long-term commitment of at least seven years.
What if I told you that you only need to invest for 5 years to accumulate Rs 1 crore? Sounds unbelievable, but it's possible, asserts Ramalingam Kalirajan
V Viswanand, director and head, Products and Persistency Management, Max Life Insurance, will answer your queries in an online chat September 3, between 2 pm and 3 pm.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Despite state-owned Life Insurance Corporation (LIC) reporting an improvement in value of new business (VNB) margin in Q1FY25, analysts believe the growth has not been satisfactory in the context of the insurer's medium-term targets on margins. VNB margin is a measure of profitability of life insurance companies. LIC's VNB margin improved by 20 basis points (bps) to 13.9 per cent in Q1FY25 over the same period last year due to a change in the business mix of the insurer.
Market reaction to the Union Budget was overall neutral. The income tax "gift" wasn't enough to move the needle. There was some apparent rationalisation of Customs duty structure as well as cuts on import duties of some key components for the telecom and IT industry and duty cuts on vehicle imports. Other proposals related to development of agriculture and rural economy and renewables seem to be generally positive.
'If you invest in a rush at the last moment, you could compromise on selecting the best tax-saving options.'
Health premiums have picked up again after a slight moderation in growth, taking the non-life insurance industry's growth to 22 per cent in November, and to almost 17 per cent so far this financial year. Health premiums grew by 22.54 per cent in the April-November period, driven largely by group health plans, which have seen good growth due to rationalisation of discounts in premiums caused by adverse claim ratios in prior periods, medical inflation, and enhanced coverage. Health premiums grew by 29 per cent in the same period last year.
Did you know that annual premium-paying option is cheaper than a monthly premium paying option?
State-owned Life Insurance Corporation (LIC) announced on Monday that it had signed up tech giant Infosys to develop a next-generation digital platform that will act as the foundation for new high-value business applications, such as customer and sales super apps, portals, and digital branches. The financial terms of the deal remain undisclosed. The tie-up with Infosys is part of LIC's "long-drawn" strategy, said a senior executive of India's biggest insurer, who noted that the IT giant "won the bid to develop the next-generation platform through a request for proposal (RFP) process".
