Shikha Verma explains how child insurance plans can help you achieve your child's financial dreams.
Younger people, who usually have a longer investment horizon which allows them to handle the interim volatility, may go for them.
'Margins will be an outcome of that. They will likely remain somewhat range-bound.'
'Pakistan has found itself in a favourable position after Operation Sindoor by appreciating the mediation as claimed by Trump and recommending him for the Nobel Peace Prize.'
The eighth Budget of Finance Minister Nirmala Sitharaman continued to focus on 'GYAN' (Garib, Youth, Annadata, Nari) to maintain a consistent and coherent strategy initiated over the years in pursuing the government's vision for Viksit Bharat. The approach, characterised by incremental yet impactful steps, aims to create a compounding effect over time.
Bundled products often come with restrictions. The customer also gets locked into two products at the same time. This reduces flexibility.
Advisors and agents known to you personally can also sell wrong policies.
Planning to buy a child insurance plan? Know these myths to make an informed decision, says Yashish Dahiya
India's annual oil import bill could rise by $9-11 billion if the country is compelled to move away from Russian crude in response to US threats of additional tariffs or penalties on Indian exports, analysts said. India, the world's third-largest oil consumer and importer, has reaped significant benefits by swiftly substituting market-priced oil with discounted Russian crude following Western sanctions on Moscow after its invasion of Ukraine in February 2022.
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.
The key highlight Reliance Life Insurance Highest NAV Advantage Plan is that it offers guarantee on maturity with the highest net asset value per unit achieved during the entire 15 years policy term, Reliance Life Insurance said in a statement.
The present norms do not specify the death cover according to the tenure of Ulip. According to existing norms, the minimum sum assured for a single premium should be 125 per cent of the single premium, while it should be five times the annualised premium for a regular premium irrespective of the tenure chosen. With the opening of the insurance sector, Ulips have emerged as popular investment products contributing more than 70 per cent of the new business premium income.
In what would make unit-linked insurance plans (Ulips) more investor friendly, the Insurance Regulatory and Development Authority (Irda) on Tuesday proposed to cap surrender charges and standardise the revival period for polices that had lapsed.
Term insurance policy provides a stated benefit only upon the holder's death, provided the death occurs within the policy period. There will be no stated benefits if the policy holder outlives the policy period.
The Insurance Regulatory & Development Authority has capped the charges from the fifth year to around four per cent of the annual premium paid.
Low margins and cash crunch have resulted in job cuts and a decline in the insurance industry. A policy roadblock is making it worse.
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.
The new rules of the Insurance Regulatory and Development Authority take effect from September 1.
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.
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.
Investing in a Unit Linked Insurance Plan increases your life cover and also helps you save tax, says Vivek Jain.
Aviva Life Insurance has announced the launch of the Young Achiever Policy with the aim to help parents plan financial needs of their child, including education and marriage.
HDFC Life has a balance between traditional policies and Ulips
Investments in such products are due to either of the following reasons: Surplus money, getting maturity proceeds from another policy or last-minute investments for tax exemption.
These products do not suit everyone even though they are flexible and facilitate investments in debt and equities.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
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.
The loss to policyholders due to massive mis-selling of insurance policies by trusted private sector and public sector banks will be well in excess of Rs 2 trillion, warns Harsh Roongta.
The Insurance Regulatory and Development Authority has clarified that only the premium collected for providing health cover in the case of unit-linked health insurance policies will be eligible for tax benefits.
A standard trick by insurance agents is to tell customers that they need to pay premium for only 3 years and the policy will continue for the remaining tenure. Here's why they do so...
If India caves in to US pressure as Trump hopes it will, he will further try to blackmail it into submission, points out Ramesh Menon.
Life insurers have decided to pass on service tax to customers. The chief financial officers of life insurance companies met last Wednesday and have decided to pass on the service tax burden to customers, confirmed officials of various life insurance companies.
The latest data released by the Insurance Regulatory and Development Authority (Irda) show that during April and May this year, premium from the sale of new policies rose to Rs 8,119 crore (Rs 81.19 billion) compared with Rs 7,331 crore (Rs 73.31 billion), representing a rise of 10 per cent.
Puts in checks to reach customers before and after selling the policy.
Avoid investing in a new ELSS scheme each year. Stick to one well-chosen scheme to avoid clutter in your portfolio.
The bulk of an investor's portfolio should be in shorter-duration funds of up to one year portfolio duration.
Avoid relying on a bank RM for investment advice. Instead, approach a Sebi-registered investment advisor whose livelihood depends on the fee paid by his customers and not on product commissions.
