Investing in a Unit Linked Insurance Plan increases your life cover and also helps you save tax, says Vivek Jain.
From taxation of EPF contributions to new wage code, life won't be the same in FY22.
This month, advertisements for managing directors and the senior management team for the National Bank for Financing Infrastructure and Development or NaBFID, should be out, signalling the start of a financial institution (FI) like no other the country has ever had. For this and other reasons government managers associated with the NaBFID project are convinced it should remain a 100 per cent government-owned entity. This is somewhat different from what former economic affairs secretary Tarun Bajaj said when the NaBFID Bill was being tabled in Parliament earlier this year: "To begin with, it will be 100 per cent government owned.
The new business premium of life insurance companies usually sees the highest growth in the March quarter.
A total of 49 companies raised Rs 81,615 crore in Samvat 2077, more than the preceding four years and almost double the amount raised in the previous year. Samvat 2078 appears even more promising with mega issues of Paytm and Life Insurance Corporation (LIC) of India. However, Paytm's record could be short-lived as state-owned LIC is planning to launch a Rs 1-trillion IPO by March 2022.
You are charged the same premium and also enjoy continuity benefits
The scheme is aimed at slashing the salary and pension bills of the three services, which have been increasing rapidly.
'The government wants foreign companies to capture the insurance market.'
It will bring in more transparency and reduce mis-selling
Archana Ramanan, a homemaker from Tamil Nadu, tells Rediff.com's A Ganesh Nadar what she would like to see in Finance Minister Nirmala Sitharaman's Budget.
These products contribute almost 20 per cent to the total premium collection of life insurers.
The National Consumer Disputes Redressal Commission, while setting aside the Punjab state commission's order, asked the Chandigarh branch of the Life Insurance Corporation India to pay the sum along with compensation Rs 25,000 and litigation cost Rs 5,000 within 45 days to Punjab-resident Neelam Chopra.
Rakesh Kaul, CDO, Edelweiss General Insurance, answers your health insurance queries.
Finance Minister Nirmala Sitharaman will present the much-awaited 2022-23 Union Budget on February 1. While there has been strong recovery in some sectors, touch services like hospitality, tourism and leisure continue to suffer after two Covid-19 waves. Household savings have been hit due to increased spending on health care. Consumption has still not reached pre-pandemic levels.
The buyout will cost LIC about Rs 100 billion, based on the Rs 248 billion market capitalisation of IDBI Bank as on Friday, and assuming it acquires a 40 per cent equity stake from the government.
The exposure, which is for the period ended September 2019, is across various platforms such as life funds, pension funds, and unit-linked funds.
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.
Amendment to the Act, sovereign guarantees, investment portfolio, realty holdings, and governance issues to shape valuation.
Interoperability with other insurance companies - apart from banks, medical centres, among others - would be the eventual goal
If bank and service provider are not compliant, pay manually, or give standing instruction linked to bank a/c, suggests Bindisha Sarang.
Plans with loan clause denied approval; regulatory ban coming.
There may be situations when a general life insurance policy may not be adequate to cover certain life uncertainties.
Covid-19, US yields, dollar to weigh on equity flows in the near term.
In the largest foreign investment in life insurance after the Reliance-Nippon deal last year, Japan's Mitsui Sumitomo (a unit of MS&AD Insurance Group Holdings) will buy 26 per cent stake in Max New York Life (MYNL) for Rs 2,731 crore (Rs 27.31 billion).
Stocks of public sector companies, especially the oil refining and marketing companies (OMCs) - Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL) and Indian Oil Corporation Limited (IOC) - logged gains on Tuesday in a weak market. While the Nifty lost nearly 1 per cent in trade on Tuesday, the Nifty CPSE index - a gauge of performance of central public sector enterprises on the National Stock Exchange (NSE) - gained over 3 per cent in intra-day trade. The rally in PSU stocks comes on the back of the BPCL chairman, Arun Kumar Singh suggesting in the company's annual general meeting (AGM) on Monday that the government intends to complete the divestment process in the OMC by March 2022.
Often, these gangs tie up with former sector employees to understand how the process works
LIC owns 3.69 per cent of the total listed universe based on available disclosures, the lowest since at least June 2009.
The Tatas will have to either buy out the 26 per cent stake in its life insurance joint venture or rope in another partner if Prudential UK buys out the Asian life insurance business of American International Group (AIG).
Easier dilution norms for mega initial public offerings (IPOs) have come into effect. Companies with post-listing market capitalisation (m-cap) of more than Rs 1 trillion will not be required to dilute a minimum of 10 per cent. The move to relax dilution norms is seen as a precursor to Life Insurance Corporation's IPO. The central government has said companies with an m-cap exceeding Rs 1 trillion will have to dilute Rs 5,000 crore and at least 5 per cent of their m-cap. Experts said the earlier framework discouraged large companies from listing since they were forced to offload a large volume of shares during the time of their IPO.
The Anil Dhirubhai Ambani Group's financial services arm Reliance Capital on Friday said it has received approval from the Reserve Bank of India (RBI) for its proposed 26 per cent stake sale in Reliance Life Insurance to Japan's Nippon Life.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
The revival initiative allows RLIC policyholders to renew their lapsed policies by simply paying their due premium -- without any penalty or medical tests.
Corporate India handed over an average increment of 8 per cent in 2021, and early estimates reveal that average increment for 2022 is expected to increase to 8.6 per cent in line with a healing economy and improving confidence, according to a Deloitte survey. As per the second phase of Deloitte's Workforce and Increment Trends survey 2021, 92 per cent companies gave an increment in 2021 at an average of 8 per cent, compared with only 4.4 per cent in 2020, where just 60 per cent companies had extended a pay hike. For 2022, average increment is expected to increase to 8.6 per cent, at par with the pre-pandemic levels of 2019, the survey said, adding that about 25 per cent companies surveyed have projected a double-digit increment for 2022.
The SBI board has given the largest lender an "in-principle" approval to invest in the capital-starved Yes Bank. The central board of SBI discussed the matter at a meeting on Thursday, it informed the exchanges.
The uncertainty over LIC's top job arose when former chairman TS Vijayan was denied an extension after his term came to an end on May 2.
One should choose a suitable insurance policy which does not disturb lifestyle.
'We would advise investors to invest in a disciplined way in equities for the long term.'
LIC is currently allowing customers to revive policies that have lapsed for more than two years.
'Last year (FY21), we had about 1 million intimated claims for Covid.' 'This year (FY22), in six months, we got about 1.6 million claims.'
Dilip Kumar Jha explains what the buyers must do to protect their own interest.
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