A term insurance should always be preferred over other insurance products like ULIPs, money back and endowment policies.
At present, the Insurance Bill is under the consideration of Select Committee of Parliament.
By following the path of Kula Dharma as mentioned in the Bhagavad Gita, you will not only be securing your child's future but also contributing to your own early sukoon (peace and well-being), says Vatsal Ramaiya
Low margins and cash crunch have resulted in job cuts and a decline in the insurance industry. A policy roadblock is making it worse.
Apart from paying ransom, the policy also takes care of the reward money, personal accident, cosmetic surgery and legal expenses.
The market regulator's newly proposed selection criteria for the over Rs 400-trillion-a-day futures and options (F&O) market could pave the way for the entry of popular stocks such as Life Insurance Corporation (LIC) of India, Jio Financial Services, Zomato, Paytm, DMart, and Adani Energy into the derivatives segment. The Indian derivatives market, which accounts for most of the trading volumes, could see big churn with over two dozen exits from the current list of 182 stocks due to an upward revision in the eligibility thresholds.
New India Assurance, National Insurance and United India Insurance are following Oriental Insurance Company in raising health insurance premium rates by 50 to over 100 per cent.
Add a term plan with a child mutual fund for best results.
Health insurance expert Anil Rego in an online chat with readers answers health insurance queries.
The information will bring about more transparency by providing prospective policyholders clear information about the amount that has been collected from them as brokerage or commission, an IRDA circular said.
The move comes amid complaints that high returns are being promised by life insurers on ULIPs accompanied by non-existent guaranteed returns.
Industrial disputes dropped 89.3 per cent to 34 in 2022 compared to 318 a decade ago, shows central and state data.
After dominating the telecom space, Bharti on Monday forayed into the life insurance sector with its joint venture with global insurance major Axa Asia Pacific launching its operations in India with two products.
They want to take advantage of the few days remaining before the IRDA's new guidelines on Ulips come into force. What has also added to the rush is the fall in the sale of big-ticket, single-premium covers and Ulips in the current financial year as individuals are holding on to big-ticket purchases, especially where the returns are linked to the equity markets. For insurers, big-ticket policies mean a lower lapse rate and it translates into higher commission for agents.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
Amit Shah wants to increase the party's nationwide vote share by at least 10 per cent from the 37.7 per cent it secured five years ago and ensure above 50 per cent vote share in the states where it came close to that benchmark, but couldn't cross it.
India's insurance industry is set for a makeover as it seeks to survive and grow in a changed environment that dawned on September 1. With a three-month spat over who will regulate unit-linked insurance plans (Ulips) settled, the Insurance Regulatory & Development Authority (Irda) in July announced sweeping changes to the way insurance companies do business.
After the Chennai floods, insurance companies had got 50,000 claims worth Rs 4,800 crore.
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Foreign investment cap in insurance sector raised to 49 per cent.
The three PSU insurers managed a meagre 2-4 per cent growth in business and eroded their market shares, while private players grew by 70 per cent to grab over 14 per cent of the general insurance market during 2003-04.
The top-up policy is cost effective for both users and companies.
HDFC Life has a balance between traditional policies and Ulips
Having got the regulatory clearance to offer add-on insurance policies, non-life insurers are now preparing to launch the same in the coming weeks. Some of the insurers have said, however, that they need some time to launch these products. They say that, unlike commercial products which can be launched straight away, products meant for retail consumers need a certain level of preparation before they are ready for sale.
Though agents promote Ulips instead of term policies, the latter make more sense for pure insurance purposes.
Although the Bill will not be passed during the current session as it is to be referred to a Parliamentary standing committee, UPA floor managers don't want to face strong resentment in the initial days of the session which might take a toll on other business. The Union Cabinet had approved the Insurance (Amendment) Bill, 2008, this October for comprehensive amendment of insurance laws, including a proposal to raise the foreign investment ceiling.
World's largest insurer AXA on Wednesday tied up with India's leading telecom company Bharti Enterprises for entering the life insurance business in India.
The proposal for listing public general insurers had come up in 2007.
American tech billionaire Elon Musk on Saturday said his proposed visit to India has been postponed due to "very heavy Tesla obligations". The electric carmaker Tesla CEO -- who was expected to be in India on April 21 and 22 and scheduled to meet Prime Minister Narendra Modi -- wrote on X that he is looking forward to coming to India later this year.
Customers have certain misconceptions about ULIPs. The charges for ULIPs are not as high as one thinks.
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.
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.
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.
Priority will be to maintain a balance between sector's growth and consumer welfare.
Several nuclear power projects held up for the lack of such an insurance pool can now be expected to move forward.
You are charged the same premium and also enjoy continuity benefits
