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%
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, will answer your queries on HEALTH insurance and AUTO insurance.
Errors in filing income-tax returns frequently lead to scrutiny notices, additional liabilities, or delayed refunds.
In order for life insurance customers to attain maximum benefits, it is crucial for the persistency ratio to be far higher than its current level, top executives of the industry said at the Business Standard BFSI Insight Summit on Thursday. The persistency ratio is a metric that measures the number of policyholders who continue paying renewal premium and is gauged at varying stages in the life of a policy. A higher persistency ratio is seen as an indicator of an insurance product that caters satisfactorily to the needs of a customer.
The GST Council on Saturday postponed a decision on cutting tax rate on life and health insurance premiums, officials said. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, decided that some more technicalities needed to be ironed out and tasked the GoM for further deliberations.
Five state-run general insurance companies have a total exposure of Rs 347.64 crore, or 0.14 per cent of their total assets under management (AUM), in Adani group of companies, the finance ministry said on Monday. In a written reply to a question by Congress' Manish Tewari, Minister of State for Finance Bhagwat Karad said Life Insurance Corp (LIC) held Rs 35,917.31 crore in debt and equity of Adani group of companies as on December 31, 2022. This is 0.97 per cent of its total assets under management (AUM) of Rs 41.66 trillion.
Contrary to expectations, the new business premium (NBP) of life insurance companies dropped 12.62 per cent year-on-year (YoY) in March 2023 due to an over 30 per cent drop in Life Insurance Corporation (LIC) of India's premiums, albeit on a high base. Data released by the Life Insurance Council shows the industry racked up NBP of Rs 52,081 crore in March 2023, compared with Rs 59,608.83 crore in the year-ago period. NBP is the premium acquired from new policies in a year. It is the sum of the first-year premium and single premium, reflecting the total premium received from new businesses.
'Health and motor insurance will continue to be our two most important segments'
Information-technology (IT) services major Cognizant has kept its full-year guidance on revenue growth unchanged at 3.5-6 per cent in constant currency even as the industry is becoming cautious about macro conditions because of tariff wars.
'Accidents are unpredictable, whether it's a mishap during Diwali, a fracture during travel, or a fall in the bathroom.'
India's private equity industry is evolving, with local funds securing substantial capital and achieving consistent returns. During a panel discussion at TiEcon Mumbai 2025, industry leaders emphasised growing opportunities in scaling buyouts and expanding domestic investor participation.
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
Ensure the sum insured for the super topup is enough to cover even worst-case scenarios.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
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.
Here's how you can make buying insurance the cakewalk that it is, says Anit Jain
'With a very stable technology with limited functionalities, a large network has spanned out.'
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.
Customers frequently sign without reading the terms and conditions, resulting in a poor understanding of coverage, and eventually leading to partial payouts
'40 percent of voters in Bihar will be excluded.'
Mid-tier information-technology (IT) companies last financial year reported better growth numbers than their larger counterparts, highlighting their ability to navigate the uncertain macroeconomic environment. Most of these companies - such as Persistent Systems, Coforge, KPIT, and Mphasis - focus on niche businesses and industries that allow them to go deeper in terms of client mining and expanding wallet share from existing customers.
Global funds have pulled out Rs 1.54 trillion from domestic stocks in fiscal 2024 - 25 (FY25), the highest-ever outflow recorded so far, according to the data compiled by Business Standard. The last time the global funds exited Indian shores in droves was back in 2022, when they sold a net Rs 1.41 in the backdrop of Covid-19.
Did you know that annual premium-paying option is cheaper than a monthly premium paying option?
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.
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.
Experts suggest that it's best to go for the bundled product that has only one-year own damage cover.
The interplay between domestic and foreign capital will shape India's equity markets.
It is ideal to purchase life insurance as soon as you become financially independent.
'We have opened 100 branches in the last one and a half years. Our manpower is also in place.'
'Unless we consistently show up with the right cars, at the right time, priced fairly, we risk becoming irrelevant very quickly.'
By choosing your study destination carefully, leveraging government schemes, comparing loan options, and adopting frugal living practices, Indian students can acquire global credentials without mortgaging their futures.
The other day I did a small gig on what a real estate agent says and how you should interpret it... today it is the turn of the insurance agent. :-)
Neeraj Prakash, MD, Shriram General Insurance, explains how new measures proposed in the Motor Vehicles Act can smoothen the lives of the insured and insurer and how the government plans to make more vehicles owners buy insurance.
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.
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.
'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.'
Cardiac care plans are ideal for individuals with pre-existing heart conditions or a family history of heart issues. Those who can't get coverage under a comprehensive plan should opt for these plans.
Investors should tilt their portfolios towards domestic-facing defensive sectors, which should help provide stability and shield them from geopolitical and tariff risks.
'Expect India to keep doing well irrespective of geopolitics.'
