While investments are typically reviewed annually, risk cover is often left unchanged for years.
'The world is heading into a period of serious problems, and gold and silver are among the few ways to protect oneself.'
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
The reduction in goods & services tax (GST) on individual life and health insurance premiums has been called a "landmark step" for making insurance affordable and inclusive. In a panel discussion at the Business Standard BFSI Insight Summit 2025, Anup Bagchi, managing director (MD) & chief executive officer (CEO) of ICICI Prudential Life Insurance; Mahesh Balasubramanian, MD & CEO of Kotak Life Insurance; Tarun Chugh, MD & CEO of Bajaj Life Insurance; and Ratnakar Patnaik, MD of Life Insurance Corporation of India (LIC), listed what else the industry needs to reach more people.
'Reviewing terms such as war, invasion, acts of foreign enemies or hostilities, which often appear in industry exclusion lists, can help avoid surprises at the time of claim.'
Both the life and non-life insurance segment posted over 20 per cent premium growth in November for the first time in this financial year (FY26), supported by the reduction in goods and services tax (GST) on premiums from 18 per cent to zero and a favourable base effect.
Make sure the rider adds value rather than just adding to cost.
Self-employed individuals often face hurdles in buying term insurance due to financial documentation that doesn't fully reflect their earnings. This complicates underwriting.
Recent years have been turbulent for the insurance industry due to direct and indirect tax reforms, regulatory overhaul and other external pressures. The events cumulatively slowed growth rate to single digits from the high teens seen earlier.
Younger customers should opt for increasing cover as their financial commitments are likely to rise in the future.
Young earners with high incomes and few responsibilities can save more than 30 per cent, while those with low salaries and high expenses may save less.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
'The government is putting insurance in the same category as food, which is essential for life.' 'Now this is an opportunity for the sector to focus on the consumer.'
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
A prudent guideline for self-employed individuals is to target at least 10 to 15 times their actual annual income when determining life insurance coverage.
Young investors with a higher risk appetite are better off with a combination of term insurance and equity funds.
Chartered accountant Nitin Kaushik's message to India's young workforce is clear: spend smart, save smarter and let money serve your goals.
Buying term insurance is not a one-size-fits-all purchase. It requires some level of deliberation to ensure that the policy aligns with your needs, life stage as well as future circumstances, says Casparus Kromhout, MD & CEO Shriram Life Insurance Company
While mobility aggregators such as Rapido and Uber have welcomed the decision, gig workers associations and unions remain concerned.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The road transport ministry has allowed cab aggregators to charge up to two times the base fare during peak hours, as against 1.5 times earlier, while for non-peak hours the fare has to be a minimum of 50 per cent of the base fare.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Some products offer terrorism cover as part of the base offering, while in others it is an optional cover.
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.
Don't sidestep the idea of investing in term insurance. Here's why.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Term insurance policy premiums are set to rise by 25 to 30 per cent with Munich Re, the largest reinsurer for the Indian insurance market, increasing its rates for underwriting portfolios of pure protection plans by up to 40 per cent. According to a senior executive of a private life insurance company, the global reinsurer has communicated its decision about increasing rates. About 8-10 insurance companies have been informed about the move, sources said.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
'Understand your financial goals. Next, categorise them by size. Then evaluate your investment options.'
rediffGURU Vivek Lala answers your income tax and personal finance queries.
Sanjib Jha, CEO, Coverfox Insurance Broking answers your health insurance related queries.
Ulips are similar to mutual funds except that they provide life cover, tax benefits and need to be kept for long term. On the other hand, term insurance is actually insurance where your dependents get sum insured in case you die, but nothing if you outlive the insurance term.
Surprised? Well, old age is no more associated with uncertainties with insurance companies coming out with specific plans for this segment!
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