The Life Insurance Corporation (LIC) told Parliament on Monday that it has unclaimed maturity amounts of Rs 880.93 crore for the year 2023–2024.
Read MorePolicyholders exiting traditional life insurance get more money back starting October 1, 2024. Irdai has asked the insurance companies to offer a higher special surrender value (SSV) for traditional endowment policies from October 1, 2024. The new 'special surrender value' rule mandates higher refunds, offering flexibility to switch plans.
Read MoreMost victims from Karnataka are educated professionals, particularly techies from Bengaluru, who were duped after being enticed by fraudsters with promises of high returns or IPO allocation. And this has been a trend across the country when it comes to fake broking apps.
Read More5 reasons health insurance claims get rejected
Read MoreAs per budget 2024 proposal you will now get a higher amount of payout from your life insurance policy as TDS rate has been reduced to 2%. “It is proposed that TDS under section 194DA of the Act be reduced from 5% to 2%” says explanatory memorandum of budget 2024.
Read MoreThe budget 2024 announced the removal of indexation benefit available on sale of property. Due to this many people who sell their property will now not be able to inflate their purchase price and reduce their capital gains.
Read MoreNo increase has been announced in the tax rebate under Section 87A of the Income-tax Act in the Budget 2024. Tax rebate under Section 87A makes tax payable zero if an individual's taxable income does not exceed the specified level.
Read MoreThe government-owned Life Insurance Corporation (LIC) is looking to foray into the health insurance sector, reports said on May 28. The insurer is currently assessing potential acquisition prospects.
Read MoreThe insurance regulator has made it compulsory for health insurance companies to reduce the maximum waiting period to get complete health insurance coverage in case of pre-existing diseases (PED) from 4 years to 3 years. The regulator modified the definition of pre-existing disease in its IRDAI (Insurance Products) Regulations, 2024, notified on April 1, 2024.
Read MoreInsurance is one of the most effective ways to manage risks and secure assets; however, the insurance industry has been mainly susceptible to trust issues. Many people believe that insurers do not pay claims, but the data says otherwise; the industry has been paying claims and is bleeding.
Read MoreThe Bank of Japan ended eight years of negative interest rates and other remnants of its unorthodox policy on Tuesday, making a historic shift away from a focus of reflating growth with decades of massive monetary stimulus.
Read MoreLife Insurance Corporation of India (LIC) launched a new unit-linked life insurance policy called LIC’s Index Plus this week. It is a non-participating, regular premium, individual life insurance plan which offers life insurance cover cum savings throughout the term of the policy.
Read MoreThe Central Board of Direct Taxes (CBDT) issued new guidelines on how tax-exempted maturity amount from a life insurance policy will be calculated in a financial year if the premium paid exceeds a specified level. As per the new guidelines, the maturity amount from life insurance policies bought on or after April 1, 2023, will not be fully tax-exempt.
Read MoreLIC's Jeevan Azad is a non-linked, non-participating, individual, savings life insurance plan. This is a Limited Premium Endowment plan under which the Premium Payment Term (PPT) is equal to Policy Term minus 8 years.
Read MoreThe Covid-19 pandemic was a wake-up call for both health insurance companies and policyholders. While it exposed the vulnerabilities in the healthcare system, it also offered the regulator an opportunity to eliminate many lacunas and add new features that can offer enhanced and adequate protection to health insurance policy buyers.
Read MoreInsurance is now being offered for what is called the ABCD illnesses. Depending on the stage or depending on how serious the disease is, they are offering day one cover, which basically means that right after you buy the policy,
Read More"One has to be aware of the list of blacklisted hospitals. Second is the waiting period for specific illnesses. Third is the minimum time of hospitalization which is required for claiming a particular illness in your policy," says Ankit Agrawal, Founder & CEO, Insurance Dekho.
Read More“If you are somebody who already has health insurance and are looking to bump up your cover at a very low cost, top up is a great option to go for. The detectable amount of that top up has to be equivalent to the sum insured that you already have,” says Siddharth Singhal, Business Head, Policybazaar.com
Read MoreIrrespective of the insurer you buy a policy from, all health insurance plans have notable exclusions which you as a policyholder or buyer should be aware of. A careful scrutiny of such exclusions will save you from a nasty surprise later on.
Read MoreGiven the high inflation, especially in healthcare, many people who have a basic health insurance cover often consider buying a top-up plan. This is intended to ensure adequate financial protection even when medical expenses rise. However, will it work according to your plan? Not necessarily.
Read MoreThe nomination process is crucial to protect the interests of the insured’s family. However, just appointing one nominee shouldn’t be done by default as many do.
Read MoreToday, health insurance is not just an option but a necessity that a person should inculcate in their habits. A good health insurance cover can help you and your family tide over a medical emergency with ease.
Read MoreWhile buying a health insurance policy for protection against cancer here are the 12 factors you should consider
Read MoreThe Life Insurance Corporation (LIC) of India has introduced a new health insurance plan called Arogya Rakshak, which is a non-linked, non-participating, regular premium, individual health insurance plan.
Read MoreWhen a bank fails, the only respite a depositor has is the insurance cover offered by the DICGC. This cover was raised to Rs 5 lakh from Rs 1 lakh, effective from February 4, 2020.
Read MoreIndustry experts say with state election results already announced the government will now take a decision on the rates.
Read MoreKeeping in mind safety of its customers amid the second wave of the COVID-19 pandemic, state-run Life Insurance Corporation of India (LIC) Friday announced a slew of relaxations in claim settlement requirements, making the process easier and hassle free.
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