Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
Company launches claim guarantee scheme for customers.
These products are extremely transparent and are the lowest charged products in the insurance space. The policyholder has to only pay the fund management charge. Hence, from the cost side, ULIPs are very competitive.
The three year lock-in period enables ELSS fund managers to invest in high conviction stocks for a long period of time because of relatively less redemption pressure, says Dwaipayan Bose
The life insurer tinkered with its business strategy - raised the share of protection plans and reduced dependency on ULIPs in the past four years.
Stick to low-cost ULIPs launched in the past few years. Go with an insurer with a good investment team and solid track record of long-term returns, suggests Sanjay Kumar Singh.
'It is crucial to understand that the ultimate goal of your investments isn't to pay lesser tax, but to create long-term wealth for you and your family,' says Satyen Kothari, founder and CEO, Cube Wealth.
Confused about what the agents tell you about this investment product? Then you must read this
'It is advisable to invest in them early in life and stay invested for a longer period to achieve long-term goals and accumulate wealth.'
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
Tax planning will help you pay less income tax. Something everyone wants. But smart tax planning will help you boost your portfolio.
Few options that can help you plan taxes wisely.
Workplaces of 2025 will be defined by a deep focus on people-first values, inclusivity, and sustainable growth, foresees Sonica Aron, founder of Marching Sheep.
'Non-par plans returns are not market-linked. Hence, they can offer guaranteed returns.'
The right investment at the right age will help you enjoy a secured post retirement life.
The good news is investors can make 5 to 6 switches during a year among funds depending on the insurance companies without incurring any costs.
Unit-linked plans or Ulips continue to be expensive compared to other instruments, say certified financial planners.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Tax planning should not be left for March. If you do so, you could face a severe cash crunch in that month, warns Sanjay Kumar Singh.
The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds.
You can ask for written communication from your HR manager seeking an explanation about your resignation. Please mark the copies to your senior authorities as well as top executives especially if you feel you are being harassed, suggests rediffGURU Pradeep Pramanik.
A rightly chosen ULIP can be a competitive investment, but the investor needs to ensure that his relationship manager has put him ahead of the commissions that the product pays, says Anil Rego, CEO, Right Horizons.
To curb mis-selling of policies and rationalise commissions, radical changes have been proposed to help investors.
India will not tailor its policies to suit US EV maker Tesla, and its laws and tariff rules will be formulated to attract all-electric vehicle manufacturers from across the world to set up a base in the world's fastest-growing economy, Commerce and Industry Minister Piyush Goyal said. Tesla has been seeking an initial tariff concession that would allow it to offset 70 per cent customs duty for cars priced less than $40,000, and 100 per cent for cars of higher value.
Salaried employees get several benefits under Sections 80C, 80D, 80G and others.
Cost is not the only factor that one should look at. It's best to keep investment and insurance apart
Much of the tardy reaction to competition is the result of LIC's legacy.
India will never provide company or enterprise-specific incentives in the electric vehicle sector, a top government official said on Friday, amid a push from American electric carmaker Tesla for special sops to set up its factory in the country. If the government has to consider providing incentives then it will only be for all EV makers and entrants who want to come to India, the official said. The official added that inter-ministerial discussions have happened on the customs duty concession demand of the US-based electric car maker Tesla, but "we never" came to any conclusion on those.
Highest NAV guarantee products accounted for a fifth of Ulip sales after pension plan sales dried up following the stringent norms on Ulips from September 2010.
Positive return guarantee but with conservative bias; rider to check insurer hopping by customers.
India's gold obsession needs a correction.
Commerce and Industry Minister Piyush Goyal has visited the manufacturing facility of US-based electric vehicle major Tesla at Fremont, California and said that the company would be doubling its auto components imports from India. The minister is in the US on a four-day visit. The world's largest electric car producer Tesla Inc's chief Elon Musk met Prime Minister Narendra Modi in June in New York and after the meeting Musk had said that he planned to visit India in 2024.
These simple changes can add a significant thrust to your overall money management over time.
Jimmy Patel, MD & CEO, Quantum Mutual Fund, suggests some valuable financial gifts for your children.
Life Insurance Corporation on Wednesday said its Varishtha Pension Bima scheme will continue next year also, but the interest rate and other terms and conditions will be decided by the government.
Joe Biden, seeking a second term in the White House, stumbled in his first televised presidential debate with his predecessor Donald Trump, setting off alarm bells among top Democrats about whether the incumbent President can stay atop in the gruelling months ahead of the elections.
'The number of deaths attributable to warming is likely to rise in the future.'
Combination of term plans and mutual funds will provide the same benefits.
Use whole life term policies for legacy planning. By doing so, your annual outgo will come down and returns will improve, suggest Chirag Madia and Tinesh Bhasin.
