Policyholders 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.
Learn 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.
Learn More5 reasons health insurance claims get rejected
Learn 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.
Learn 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.
Learn 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.
Learn 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.
Learn 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.
Learn 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.
Learn 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.
Learn 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.
Learn 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.
Learn 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.
Learn 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.
Learn 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,
Learn 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.
Learn 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
Learn 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.
Learn 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.
Learn 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.
Learn 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.
Learn MoreWhile buying a health insurance policy for protection against cancer here are the 12 factors you should consider
Learn 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.
Learn 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.
Learn MoreIndustry experts say with state election results already announced the government will now take a decision on the rates.
Learn 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.
Learn MoreNEW DELHI: Gold and silver futures fell on Monday as Turkey replaced its central bank governor with a high interest rate critic led to investors flocking towards the safety of the dollar, on fears that the move would threaten other financial markets.
Learn MoreFinance Minister Nirmala Sitharaman on Tuesday raised the limit for tax exemption on interest earned on provident fund contribution by employees to Rs 5 lakh per annum in specified cases as against Rs 2.5 lakh proposed in the Budget.
Learn MoreMUMBAI: Indian banks have started pulling the plug on customers investing and trading in crypto assets as the spectre of government ban on cryptocurrency rises. The government recently said that it plans to introduce a law banning trade in all cryptocurrencies — except for those issued by the government itself.
Learn MoreThe finance minister, Nirmala Sitharaman, has announced that in case a bank fails or withdrawals from the bank are stopped due to financial pressure on the bank, the depositors will be able to get immediate access to their deposits upto the deposit insurance amount of Rs 5 lakh, i.e.
Learn MoreThis is the third time government has extended the deadline for taxpayers for whom the normal deadline is July 31. The government has also extended the date to submit the tax audit report to January 15, 2021. The last date of filing declaration under Vivad Se Vishwas Scheme has been extended to January 31, 2021.
Learn MoreSort the paperwork and complete financial tasks without leaving any loose ends after the death of a family member. ET Wealth tells you about the documents needed to close accounts, transfer investments and make claims and the processes to complete these tasks.
Learn MoreAre Indians prepared for their retirement? Yet another survey result shows that they are not. Most participants of the survey said they did not have a retirement plan.
Learn MoreBarely one in five considers inflation while planning for retirement. Life insurance and bank FDs are top choices for those who plan for retirement, and this underlines the essential conservatism in most retirement plans.
Learn MoreYour very money traits and habits form the foundation for your children's money behaviour when they become adults. Find out about your money behaviour that may be causing stress in your children and how to stop yourself from doing so.
Learn MoreBorrowers who are facing salary cut/job loss due to the novel coronavirus pandemic situation and were looking for some reduction in their EMI burden will have to wait a little longer. However, no change in policy rates means good news for FDs investors as banks may go slow on cutting interest rates on FDs.
Learn MoreMR Kumar says the insurance behemoth may bring in outside fintechs and insurance techs to grow scale
Learn MoreMumbai: The RBI on Thursday said it will provide a debt resolution window to enable lenders to implement a resolution plan in respect of eligible corporate exposures as well as personal loans, keeping the ownership unchanged, and without classifying them as non-performing loans.
Learn MoreThere is a saying – “Don’t put all your eggs in one basket”. Similarly, in your investments too there is a need for diversification through investment in different product categories.
Learn MoreIt is not just financial literacy but also behavioural skills that are common to investors who grow their wealth consistently. Here are some habits to emulate.
Learn MoreData available with Ace equity showed LIC betted on at least 25 penny stocks.
Learn MoreThe extension has been done to provide further relief to the taxpayer individuals
Learn MoreShort-term deposit rates are now very close to or even less than what savings accounts offer.
Learn MoreLoan defaults are bad news for people who have stood as guarantors to loans taken by friends and relatives. Most people know that a guarantor is liable to pay if the borrower defaults on the loan repayment. There are other risks that the guarantor is exposed to.
Learn MorePolicymakers are worried that the number of Covid claims is only 8,500 with a claim amount of Rs 135 cr.
Learn MoreThe government has extended various financial deadlines from March 31, 2020, to June 30, 2020.
Learn MoreThe policyholders can send the maturity claims and survival benefit requirements by email. The mail should be sent to the servicing branch. Make sure that the mail ID is used only for sending the claim requirements and not for any other purpose.
Learn MoreThe RBI bonds are attractive as they are currently offering a higher interest rate as compared to bank fixed deposits and other financial instruments offering an equal degree of safety.
Learn MoreThe earlier deadline of three-month EMI moratorium was ending at May 31, 2020
Learn More“With this recent pandemic outbreak, the real estate sector is likely to be handicapped in the short term, impacting over 250 related industries and economic sectors."
Learn MoreCurrently, an employee contributes 12% of his salary to the EPF account. The employer matches the contribution.
Learn MoreAs per the announcement, "Due date for all income-tax return for FY 2019-20 will be extended from July 31 2020 and 31 October 31, 2020 to November 30, 2020 and tax audit from Sept ember 30, 2020 to 31st October 2020."
Learn MoreGiven below are five reasons why your EPF withdrawal claim can get rejected by the EPFO and what you should do to avoid the rejection of a claim.
Learn MoreIndustry body Nasscom is reviewing labour laws from WFH perspective and will submit a report next week.
Learn More"During this period of volatility in other asset classes, a large number of PPB bank account holders are moving their savings into fixed deposits during the ongoing lockdown," stated Paytm Payments Bank.
Learn MoreTimes may seem bleak, but this too shall pass, and when it does, we will need to get ready for life to return to normalcy. Part of this normalcy will be finances, and for life to move on, it's crucial to make sure savings have not been eaten away through avoidable medical expenses.
Learn MoreTax will be deducted from the dividend at the time of payment by the company/mutual fund house if the total amount of dividend being paid to the individual during the financial year is more than Rs 5,000 at the rate of 10%.
Learn MoreRent payment is one of the biggest monthly expenditures, especially for youngsters living away from parental homes. In the case of credit cards, accrual of interest gets tricky.
Learn MoreRBI reasoned that the financial position of the bank is highly adverse and unsustainable. There is no concrete revival plan or proposal for merger with another bank. Credible commitment towards revival from the management is not visible, observed the central bank.
Learn MoreThe extension will see some relaxations which will be regulated based on the spread of the virus in districts
Learn MoreAdditionally, LIC settled 20.3 million maturity and money back claims and annuities over the financial year, it said while settling 750,000 death claims in this period.
Learn MoreWe are all in this together, so the ideal way is to stay transparent with your consumers about what your business is going through. Customers can empathize with companies facing a crisis, as long as the communication is transparent.
Learn MoreTempleton has wound up $4.1 billion of debt funds after a liquidity crisis.
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