Allowing it to lapse leaves you unprotected and can, in some cases, cause loss of premiums paid, experts tell Sanjay Kumar Singh.
'The incentives to switch to the new tax regime... are viewed as a negative due to potential loss of customers who buy policies for saving tax.' 'The tax-saving value proposition for the sector reduces.'
The National Commission ruled that the insurance policy is deemed to be automatically transferred to the purchaser when the vehicle is registered in their name.
Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits, reveals Tamal Bandyopadhyay.
Caught between choosing to continue an inefficient policy and dropping it? We have some answers that will help better your insurance portfolio.
While it is advisable to hold the insurance policy till its maturity, it is not always possible. Life throws up some unexpected challenges, and so we are forced to sell the policy, in order to raise cash to tide over these emergencies.
The life insurance industry does not have a good track record when it comes to passing on tax benefits to policyholders, points out Harsh Roongta.
Dilip Kumar Jha explains what the buyers must do to protect their own interest.
Either you are buying insurance policy online or through an agent, getting a better understanding about it will always be beneficial for you, says Harjot Singh Narula
How many health insurance policies should you have? Should you have mediclaim policies at all if you do not have any medical problems? Which are the best health insurance policies available for you today in India? How can one claim money after hospitalisation if you do not have a cashless mediclaim facility? How and where can you lodge complaints against your mediclaim insurance company if you have a problem? Here are the answers.
What happens when your insurance policy lapses? What should you do in such a scenario? Read on to find out...
The data for individual weighted received premium (WRP) showed divergent trends for life insurers in December 2024. Overall, the industry's individual WRP grew 4.8 per cent year-on-year (Y-o-Y); LIC's individual WRP declined 13 per cent while private players saw 11.4 per cent growth.
Insurance policy document will become digital and paperless like shares in the coming year and the policyholders would be saved from preserving the physical copies of their insurance policies.
It is highly effective as compared to other policies that companies sell and saves the buyer from many hassles.
While basic policies focus on structural damage, comprehensive ones extend to household contents like furniture, electronics, clothing, and other personal belongings.
Here's your one-stop to know and learn all you always wanted to know about term insurance policies but didn't know who to ask.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Simply put, riders are add-on benefits which can be bought along with a life insurance policy. They enable insurance seekers to increase the scope of protection offered by the insurance policy for a price.
Car market leader Maruti has sold a record 1 million policies under 'Maruti Insurance', launched two years ago.
A lapsed policy can be revived within 5 years from the date of the last premium paid by paying up the outstanding premiums along with interest charges.
'Some of the astounding proposals, if translated into statutory provisions, would be suicidal.' 'This would not be a wonder cure for increasing insurance penetration and only result in mushrooming growth of players like paan kiosks with deleterious consequences.'
Besides portability, insurers are also planning to introduce longer- term medical insurance policies.
Choosing a term insurance policy is an economical way of getting life insured but choosing the most economical term insurance policy will help you to get life insurance on a tight budget also
Tata AIG Life set to approach regulator soon on the 'e-life' tablet; to be launched in metros initially.
A month down the line, you may be holding insurance policies in electronic form. According to sector experts, the regulator is in the last lap of checking repositories' preparedness and infrastructure, and is likely to allot licences by May-end or early June.
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.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Mahavir Chopra explains the pitfalls one may face after buying a day care insurance policy
The eighth Budget of Finance Minister Nirmala Sitharaman continued to focus on 'GYAN' (Garib, Youth, Annadata, Nari) to maintain a consistent and coherent strategy initiated over the years in pursuing the government's vision for Viksit Bharat. The approach, characterised by incremental yet impactful steps, aims to create a compounding effect over time.
The growing complexity of E2Ws and the evolving threat landscape make it challenging to guarantee complete immunity from attacks.
Through this online facility, these business communities can generate marine policies, manage them online and speed up documentation procedures in case of an emergency.
WikiLeaks founder Julian Assange has revealed that he has sent out 100,000 encrypted versions of secret files in case anything happens to him.Assange acknowledged that there had been death threats against him and his colleagues because of the damaging leaks. The encrypted filed are the insurance policy he had put in place to ensure that his whistle-blowing website will not be silenced, whatever drastic steps may be taken by his enemies.
Have a query regarding health insurance or mediclaim policy? Maybe we can help. Drop us a line and our expert, Harsh Roongta, CEO of Apnapaisa.com, will answer it.
If you find yourself stuck with a wrong policy situation, consult your financial planners or insurance advisors and then decide on continuing the policy based on the merits of the case and your finances, among other factors.
The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance premiums, while hiking it on high-end wrist watches, shoes and apparels, besides considering a separate 35 per cent tax slab for sin goods. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, is likely to discuss rate rejig in about 148 items, besides, it will also deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry's operation cost, in the Goods and Services Tax (GST) fold.
Before buying a life insurance policy, weigh the pros and cons of who you are buying froman agent, broker or bancassurance.
This insurance policy covers permanent total disablement, permanent partial disablement, temporary total disablement, accidental death and double indemnity for permanent total disability and accidental death
If you have done proper planning and have little liability, there is no need to go for an insurance policy after 50.
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