Do you know the most common exclusions in a mediclaim plan? Or, why your base premium keeps increasing over a period of time?
'If you invest in a rush at the last moment, you could compromise on selecting the best tax-saving options.'
The government has made its flagship crop insurance schemes voluntary for farmers with existing crop loans or those willing to take new ones, as it seeks to address the concerns raised by farmers' body and states in implementation of these programmes. "The Union Cabinet has approved the revamping of 'Pradhan Mantri Fasal Bima Yojana (PMFBY)' and 'Restructured Weather Based Crop Insurance Scheme (RWBCIS)' to address the existing challenges in implementation of crop insurance schemes," an official statement said.
'I am very happy to see that the work is starting to bear some fruit now.'
Despite state-owned Life Insurance Corporation (LIC) reporting an improvement in value of new business (VNB) margin in Q1FY25, analysts believe the growth has not been satisfactory in the context of the insurer's medium-term targets on margins. VNB margin is a measure of profitability of life insurance companies. LIC's VNB margin improved by 20 basis points (bps) to 13.9 per cent in Q1FY25 over the same period last year due to a change in the business mix of the insurer.
Here is what you must not think before buying life insurance, says V Viswanand, Senior Director and Chief Operations Officer, Max Life Insurance
It might be a cheaper option, but lack of clarity is choking its growth
Expect premiums to go up or introduction of a co-pay option for third-party damage
While the BJP has assured voters that these benefits will not be discontinued, AAP leaders have questioned the party's long-term commitment.
'With tuition fees for international students rising, education loans have become critical for bridging the gap between savings, scholarship, and full cost.'
Health insurance coverage should be hiked periodically to keep pace with medical inflation, or increase in healthcare costs.
"The new structure will substantially reduce taxes on the middle class and leave more money in their hands, boosting household consumption, savings and investment," Sitharaman said presenting what was dubbed as 'reformist' budget for the next fiscal in Lok Sabha.
Most traditional health insurance plans didn't cover the cost of such treatments earlier, but several recently launched policies do offer such coverage -- some as a rider, and a few as standalone covers, points out Sarbajeet K Sen.
Several nuclear power projects held up for the lack of such an insurance pool can now be expected to move forward.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, will answer your queries on HEALTH insurance and AUTO insurance.
The decline in LIC's share price makes it the biggest wealth destroyer among IPOs which hit the market after COVID-19 took hold globally in 2020.
We are, therefore, setting up more branches in more tertiary terms, like tier 2 and tier 3 terms. Going forward, that is where the growth will come.
Annual premiums do not exceed what you readily shell out for an OTT subscription.
Come October, life insurers may have to tighten their underwriting standards further for retail term plans at the behest of one of the largest reinsurers in the Indian insurance market, Munich Re. According to a source aware of the development, "Munich Re has been studying long-term mortality trends for the past few years, and has suggested some tightening in the underwriting process." "As far as financial underwriting is concerned, the reinsurer has suggested that insurers should ask for additional documents. "For example, apart from income proof, they can ask for bank statements of the prospective customer before issuing policies," added the source.
The accord covers all crucial areas.
Insurance companies are seeking a separate deduction limit of Rs 1 lakh for insurance premium payment under Section 80C of the Income Tax Act in the upcoming Union Budget to bring in more people under the ambit of insurance. The insurers also want reduction in the goods and services tax (GST) rate of 18 per cent currently applied on health insurance products to 5 per cent to make such products more affordable to common people. Finance Minister Nirmala Sitharaman will present the Union Budget for 2022-23 on February 1.
Most popular mandal in Mumbai, Lalbaugcha Raja, takes Rs 51 crore cover.
Novice investors must understand that volatility is an inherent part of equity markets and learn to navigate through such phases.
The Union Cabinet has approved amendments to the General Insurance Business (Nationalisation) Act, paving the way for privatisation of government-owned insurers. The amendments, approved by Cabinet, will remove the clause for the Centre to hold at least 51 per cent in public sector insurance companies at any given time. It will also have an enabling provision for the transfer of management control from the government to the potential buyer of the public sector insurance company. The finance ministry will move amendments to the insurance Act in the ongoing Parliament session.
India will unveil a single policy for foreign direct investment, including in sectors such as financial services, insurance and banking by March 31, Commerce and Industry Minister Anand Sharma has disclosed.
Younger people, who usually have a longer investment horizon which allows them to handle the interim volatility, may go for them.
rediffGURU Rohit Gupta, co-founder and COO of College Vidya, provides a list of competitive exams that can help you land a job in the public sector.
You will be much better off buying the required plans directly from life and general insurers, experts tell Chirag Madia
The higher limit will be useful for senior citizens in particular
Owners of high-end vehicles should explore more options such as engine protection, invoice cover and plans that cover accessories, says Animesh Das.
The film hits theatres tomorrow, July 25.
There are many ways to lower your auto insurance premium rate but the best way is to add safety features to your car.
Foreign direct investment (FDI) inflows into India have crossed the $1 trillion milestone in the April 2000-September 2024 period, firmly establishing the country's reputation as a safe and key investment destination globally. According to data from the Department for Promotion of Industry and Internal Trade (DPIIT), the cumulative amount of FDI, including equity, reinvested earnings and other capital, stood at $1,033.40 billion during the said period.
Harjot Singh Narula lists 5 lessons Diwali teaches you about your financial future
The BJP may win more seats in the February 5 assembly election, but not enough to trump AAP, notes Ramesh Menon.
When Life Insurance Corporation (LIC) of India gets listed on the bourses next month, it will be among the biggest listed life insurers globally in terms of market capitalisation (m-cap), assets, and revenue, but will also be among the least profitable and capitalised among its peer group. A big gap between LIC's m-cap, profits, and networth (shareholder capital) will make it one of the priciest insurers globally, in terms of price-to-earnings (P/E) multiple and price-to-book value (P/B) ratio. LIC also lags behind its Indian listed peers in terms of profit and networth.
'Margins will be an outcome of that. They will likely remain somewhat range-bound.'
India, the world's third largest oil consuming and importing nation, in July bought $2.8 billion worth of crude oil from Russia, second only to China which remains the largest importer of Russian oil, a report said. Russia emerged as India's biggest supplier of crude oil, which is converted into fuels like petrol and diesel in refineries, after Russian oil was available on discount following some European nations shunning purchases from Moscow over its invasion of Ukraine in February 2022.
Surprised? Well, old age is no more associated with uncertainties with insurance companies coming out with specific plans for this segment!
Irdai has listed diseases that can't be excluded from health insurance policies, including neurodevelopmental disorders, mental illness problems, psychological disorders, genetic diseases, puberty- and menopause-related disorders.
