When Taragauri Doshi's husband died, an assessing officer wanted to tax the proceeds from a life insurance policy that had been bought abroad. Homi Mistry, Mousami Nagarsenkar & Hiral Tanna explain why such proceeds are not taxable in India.
If the sum assured is less than 10 times premium, the proceeds will be taxed.
With terrorist attacks getting more frequent in the country, insurance companies are introducing a mechanism for processing speedy claims on this.
Banks and insurers are beginning to reward customers who show exemplary conduct with lower prices and penalise those who behave poorly by imposing higher costs.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, will answer your queries on HEALTH insurance and AUTO insurance.
Average monthly GST collection rose from Rs 90,000 crore during the first year of its implementation -- 2017-2018 -- to Rs 1.68 trillion during 2023-2024, representing an 87 per cent rise.
Being a high-value asset, a car needs a comprehensive cover to protect you financially from mishaps. With premiums to be de-tariffed soon, auto insurance is set to change.
The Congress has so far announced 82 candidates for the seven-phase Lok Sabha polls beginning April 19.
Know when these come into play before buying a health insurance policy.
Mukesh Kumar, Executive Director, HDFC ERGO General Insurance Company Limited, talks about the many benefits of buying one
The Insurance penetration in India is very low at 3.9 per cent.
Apart from traditional factors, some new parameters have also been introduced into auto insurance agreements, which can prove to be a boon for the policyholders and can lower their premiums.
Other proposals include grading of hospitals, expanding network.
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.
Diktat to four general insurance companies says 'avoid competition' in any corporate or group account
Insurers may be burning their fingers in urban health portfolios for some time now, but the government's rural healthcare initiatives, including its decision to provide free generic drugs to public hospitals, are set to offer fresh avenues of growth for them.
Is your insurance company taking you for a ride by delaying or repudiating in settling your claim? You need not spend sleepless nights now. The Insurance ombudsman office will take care of the problem.
Moving to a new company means losing out on continuity benefits
According to data from company sources, the Life Insurance Corporation of India (LIC) still remains the benchmark when it comes to settling death claims. However, major private players are also fast catching up.
A remarkable story which helped in transforming a bureaucratic organization, to a customer centric organization. This experience may inspire several government / private organizations to modify or adopt digitisation to transform their business, notes Professor N Ravichandran (retd).
Sanil Basutkar, Co-founder, HealthySure, lists the benefits of availing a group health insurance policy.
ESIC board has relaxed norms to double payment of unemployment benefit under the scheme to 50 per cent of average wages of three months to cope with job loss between March 24 and December 31 this year in view of the COVID-19 pandemic.
Maternity insurance ensures that you can enjoy the happiest moments of your life without any financial worries, says Harjot Singh Narula
Most policies have a 30-90 days waiting period, during which you will not be able to claim any hospitalisation expense, except in case of accidents.
Irrespective of your age and how good your health has been, the right time to get a health insurance is NOW, says Mukesh Kumar, Executive Director, HDFC ERGO General Insurance Company
Keep these in mind to gain maximum benefit from your life insurance policies that you may already have or are planning to buy
Sanjib Jha, CEO, Coverfox Insurance Broking, lists 5 important things to look out for when buying a health insurance policy.
'If something unfortunate happens to an earning member, the family loses the crucial income which would have gone towards paying off debts, meeting the cost of children's higher education, or towards the upkeep of elderly parents.'
Cyber crimes caused by the insured's employees also get covered under the policy but would exclude the actual perpetrator.
Ever growing use of new technologies and treatment, increase in the population of old people can, are some of them
The air carriers' liability and insurance draft bill has proposed a five-fold increase in compensation in case of death or injury, the report said.
Taking strong view of wrongful repudiation of mediclaim policy on the ground of concealment of pre-existing ailments
It is highly effective as compared to other policies that companies sell and saves the buyer from many hassles.
The premium would rise, despite 'no claims' during 2010-11 and the same fleet size.
West Bengal Chief Minister Mamata Banerjee asserted that she had last year inaugurated the second campus of the Chittaranjan National Cancer Institute which Prime Minister Narendra Modi dedicated to the nation on Friday.
Insurance regulator IRDA on Monday said that policy holders will gradually have to pay more for motor, health and other general insurance covers as costs would go up due to companies setting aside higher funds for claim settlements.
The pool was formed by non-life insurance cos in India in Apr '02.
Seventy five per cent of the non-life insurance industry, which consists of fire, engineering and motor covers, was subject to rates prescribed by the Tariff Advisory Committee up to December 2006, irrespective of whether the risk was good or bad. The industry was partially detariffed on January 1, 2007, but the regulator restricted the discounts insurers could give to minimise the dangers of an irrational price war.
'While many policies say that they will cover mental illnesses, the wordings of a few still have mental illness as a permanent exclusion.' 'After the new IRDAI circular, such exclusions should go away.'
Overall, the BGauss RUV 350 is a feature-packed electric scooter with a unique design and competitive performance.
