If you have done proper planning and have little liability, there is no need to go for an insurance policy after 50.
Insurance company will bear the cost of digitising. It will in turn benefit from lower expenses on servicing policies.
A few must-have insurance policies, if you are the sole earning member.
If insurance was a good investment product, I am sure this question would not have come up. But the answer, I am afraid, will not be a plain 'yes' or 'no.'
Deciding whether a whole life insurance plan is a smart option or not hinges on the financial situation of the insurance buyer
The premium on insurance policies will get costlier by 3 per cent to 7 per cent, depending upon the rate fixed by the GST Council from April 1, 2017, says Harjot Singh Narula.
Be it poor, middle class, upper middle class or rich, every individual who is 70 years and above is eligible for getting Ayushman card and will receive free treatment up to Rs 5 lakh at any of the AB PMJAY empanelled hospitals once the expanded scheme gets launched.
It is important to look at factors like claim settlement ratios, persistency ratios, the extent of premium increase with age, insurer's reputation, etc, says Vaidyanathan Ramani.
Don't feel trapped if you have bought an insurance policy you feel you don't need any more. Here's the way out...
It is important to preserve copies of benefit illustration and product features.
Just like investors holding dematerialised shares with depository participants, individual insurance policyholders will be able to stack their insurance policies too in electronic form very soon, thanks to some path breaking initiatives by the insurance regulator, Insurance Regulatory Development Authority.
Group policies usually cover all pre-existing diseases and, therefore, the claim process and the cashless process are much easier.
Term life insurance policies, and senior citizens' health insurance premium are likely to be exempted from GST as most members of a state ministerial panel favoured cutting taxes to benefit the common man, an official said on Saturday. The GoM to decide on GST on health and life insurance premiums in its meeting on Saturday decided to exempt GST on premiums paid by individuals, other than senior citizens, for health insurance with coverage of up to Rs 5 lakh. However, 18 per cent GST will continue to be levied for health insurance cover of over Rs 5 lakh.
If Irda's guidelines are implemented, cases of surrendering policies and making these paid-up might decline.
Insurance expert T Srikanth Bhagavat tells you about the pros and cons of money back and endowment policies.
Cardiac care plans are ideal for individuals with pre-existing heart conditions or a family history of heart issues. Those who can't get coverage under a comprehensive plan should opt for these plans.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
One should choose a suitable insurance policy which does not disturb lifestyle.
People in their quest to save tax usually end up buying a lot of unwanted insurance products.
Health insurance policy-holders will be able to avail a discount on the premium payable if there were no claims made in the previous year, according to the circular released by the regulator.
The Rs 5 lakh free health insurance cover would benefit senior citizens of around 4.5 crore families. Eligible beneficiaries would be issued a new distinct card under the scheme, the government said.
The move by the insurance regulatory body aims to create a more inclusive healthcare ecosystem in India and to encourage insurance provider companies to diversify their product offerings.
'Accidents are unpredictable, whether it's a mishap during Diwali, a fracture during travel, or a fall in the bathroom.'
While conventionally life insurance products have been bought for the tax sops (under Section 80C) they offer, there is much more to life insurance. Read on...
Compared to a third party insurance buying comprehensive insurance makes more sense, says Neeraj Gupta
You can exit Ulips after five years.
Its not so tough to improve insurance coverage at nominal cost.
In its draft guidelines, the Insurance Regulatory and Development Authority (Irda) has asked the country's life insurance companies to refile their existing products and withdraw the same by September 30.
From July 10, when it was launched till August 7, 1,087,030 lives have been covered under Corona Kavach through 648,276 policies with premium of Rs 182 crore and sum assured for Rs 42,956 crore. In addition, 186,347 lives have been covered under Corona Rakshak through 156,695 policies with premium of Rs 25.5 crore and sum assured for Rs 3,293 crore, an Irdai official said.
'As on August 25, 94,753 Govindas have been insured.' 'This number is expected to rise further, as proposals for 5,000 to 8,000 Govindas are received daily.'
Electric two-wheeler (e2W) maker Ather Energy has submitted preliminary papers to the Securities and Exchange Board of India to raise funds through an initial public offering (IPO). According to the draft red herring prospectus (DRHP), the IPO will comprise a fresh issue of equity shares valued at Rs 3,100 crore, alongside an offer for sale of 22 million equity shares by its promoters and investor shareholders.
With the general insurance penetration at a dismal 0.60 per cent (measured as a percentage of GDP), many companies feel that selling the policies through photo studios, grocery stores and even telephone booths would help improve the figure. "If telecom companies are able to use grocery stores, petty shops and other small outlets, why not insurance companies?" said an Insurance Regulatory and Development Authority official.
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
Like dematerialisation of securities, it will offer dual benefits of cost-effectiveness and convenience.
Indian kiranas are agile enough to face the q-com challenge, but it's going to be a tough fight, notes Ambi Parameswaran.
An individual can avail tax deduction on the amount spent during the year on a deferred annuity for self, spouse, or child.
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