The Life Insurance Corporation of India will soon file a special leave petition before the Supreme Court to prevent trading in life insurance policies.
Riders are the additional benefits that you may buy and add to your policy. They are options that allow you to enhance your insurance cover, qualitatively and quantitatively. Riders can be mixed and matched based on one's preferences for a small additional cost.
Two types of deductibles are associated with auto insurance -- compulsory and voluntary.
Term life insurance policies are also called 'pure-risk policies' and 'pure life policies'; they have no savings or investment element in them; the premium includes only the cost of buying the life cover. Here are 6 term insurance policies compared on 5 parameters for you to choose from.
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.
Your insurance policy is just not for saving tax. The bonus that accrues on your policy can also help you maximise your wealth.
Now that cashless is once again the national buzzword, Harjot Singh Narula explains what you must know about cashless treatment under health insurance plan
ICICI Prudential Life Insurance Company (IPru) is struggling to generate growth in the value of new business (VNB). This is due to a combination of weak growth through the parent bank's channels, a shifting product mix in favour of unit-linked life insurance policies (ULIPS), and higher payouts to third-party channels. Leverage from current investments, a further reduction in contributions from ICICI Bank, and a pick-up in non-participating policies from the end of the year is key for this metric in the near to medium term.
Keep these in mind to gain maximum benefit from your life insurance policies that you may already have or are planning to buy
Insurance companies have worked over the years to simplify their claim settlement process
Consider a combination of a base policy and a super top-up policy.
Having an agent can help in the case of older consumers with pre-existing diseases or if there is a break in policy. Otherwise, online is cheaper and there is help, too
A brief evaluation of what insurance riders are actually about and which one of them could be most appropriate for you.
As opposed to term insurance that keeps you covered for a specific time period, opting for a whole life term plan means that you are covered for your entire life, says Santosh Agarwal.
Simplifying GST rates, removing exemptions, easing disputes, and speeding up refunds can boost investment in India and offer the best reply to Trump's tariffs, observes V S Krishnan, former member, Central Board of Indirect Taxes and Customs.
A term insurance policy is one of the most misunderstood products in India. Here are the right reasons why it is the best insurance option available.
In the Indian stock market, investors are interested in the actions of both domestic and foreign institutional investors (FIIs and DIIs). These groups have wealth as well as expertise in research, which makes them powerful participants in the Indian stock market. Their buy and sell positions have a large effect on stock prices and market sentiment due to the large volume.
A combination of add-on insurance covers can be helpful in managing finances and making life much easier, says Dhirendra Mahyavanshi
Agents often influence customers into buying new products every year instead of continuing with their existing policies
Insurance companies reported nearly 23 per cent growth in first year premium in the first quarter of financial year 2024-25, when compared to the same period last year, with market leader LIC leading the charge with 28 per cent growth. According to the data released by the Life Insurance Council, the new business premium (NBP) increased by 22.91 per cent year-on-year (Y-o-Y) to ~89,726.7 crore in Q1FY25 from ~73,004.87 crore in Q1 FY24, reflecting a robust demand for insurance policies in the country.
All the four listed private life insurance companies recorded a drop in value of new business (VNB) margin in the financial year 2023-24 (FY24) as compared to FY23. This is because of a higher share of unit-linked insurance plans (Ulips) in the product mix. VNB is a measure of the economic value of profits expected to emerge from a new business.
Many people invest in insurance with a view to saving taxes. So what are the tax rebates available to an individual in respect of premium paid on life insurance policies?
Buying a wrong insurance policy can give you nightmares when it comes to settling claims. Then there are other issues like cost, riders etc. Here's a seven-point checklist to help you buy an insurance policy that YOU need.
The policy features a combined death benefit to be paid upon the death of the single insured that more than doubles the previous record, Guinness said in a statement.
Though COVID-19 will wreak more damage to the finances of the Indian population, the insurance sector is unlikely to get hurt.
The resilience of the economy and strength of domestic demand will continue to make India an engine of growth amid the rapidly evolving global trade landscape as a result of US tariffs, Finance Minister Nirmala Sitharaman said in London on Tuesday.
After the Delhi high court's ruling, blanket exclusion of genetic disorders from coverage is likely to become a thing of the past.
While Air India Express is expected to get the full insured amount for the hull loss, it will have to pay compensation to the kin of the deceased and injured, according to applicable laws. The compensation will be paid from its liability cover.
LIC is on board after tying up with all five insurance repositories; 1,50,000 e-Insurance Accounts opened across India till date.
Naval Goel explains the key points that will help you buy the most appropriate travel insurance plan and leave your worries behind when you travel with family and friends.
Yet another first week of December brought familiar scenes of rain, storm, flooding, power outages, and fallen trees. When Cyclone Michaung wreaked havoc, leading to the heaviest rainfall in 47 years in the city, residents of Chennai drew parallels to the devastating floods of 2015. However, initial data on insurance claims suggests that the impact this time may portray a more optimistic scenario.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, answers your queries about HEALTH insurance and AUTO insurance.
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.
The US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.
Use no-claim bonus, online discounts or negotiate hard to get it reduced.
This question remains unanswered most of the time due to lack of knowledge or guidance. No more!
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
LIC is currently allowing customers to revive policies that have lapsed for more than two years.
