The top government think tank's CEO further said that the overall geopolitical and economic environment are favourable to the country
Read MoreOn January 20, a total of 4,52,839 agents of LIC successfully completed and issued an astounding 5,88,107 life insurance policies across India, it noted
Read MoreAccording to data released by the Life Insurance Council, LIC collected Rs 13,610.63 crore in NBP for the month, up from Rs 12,383.64 crore in April 2024
Read MoreNRIs can claim a GST refund on insurance premiums, which makes purchasing Indian policies more affordable
Read MoreAs per the new tax bill, 'undisclosed income' includes 'money, bullion, jewellery, virtual digital asset or other valuable article' or expenditure, income based on any entry or transaction, where such entry wholly or partly represents income which has not been disclosed.
Read MoreThe Income Tax Bill, 2025 defines 'online game' as any game offered on the internet and accessible through a computer or telecom device.
Read MoreInsurers also want FM Sitharaman to consider extending the additional Rs 50,000 tax exemption for NPS contributions to pension plans from life insurance companies too
Read MoreThe regulatory reform from IRDAI that attracted the maximum attention was the change in computation of surrender values and charges for endowment policyholders, but the regulator modified several other rules that directly affect retail life, health and general insurance policyholders.
Read MoreGift your sister a term deposit, a SIP in mutual funds, enrol her for a financial planning workshop or book an appointment with a financial adviser to make a personalised investment plan.
Read MoreA recent report by Apollo Hospitals, one of India's leading healthcare groups, paints a grim picture of the nation's health. Released in April, the report dubbed India the “cancer capital of the world”, highlighting a worrying rise in cancer cases and other non-communicable diseases (NCDs).
Read MoreUnion Budget FY25: FM Nirmala Sitharaman presented the 2024-25 budget focusing on job creation and boosting consumption. Key highlights include capex at ₹11.11 lakh crore, tax rationalisation efforts, and schemes for employment, skilling, and women empowerment.
Read MoreThe reduction in customs duties on gold and silver to 6% is expected to stimulate retail demand and help mitigate smuggling issues in the world's second-largest bullion consumer.
Read MoreLIC Q4: Its gross non-performing asset (GNPA) stood at 2.01 percent against 2.56 percent in the year-ago period The insurer announced an interim dividend of Rs 6 per share.
Read MoreWith an eye on expansion, the management outlined plans to penetrate Tier-2, Tier-3, and rural areas, and to fortify its position against private competitors
Read MoreInternational Women's Day: Compared to motor insurance, where over 50 percent women said they understood their policy benefits and clauses, only 32 percent were aware of their health insurance coverage details.
Read MoreThe product is targeted at parents who wish to create a long-term corpus to meet the higher education needs of their children.
Read MoreThe insurer’s net premium income grew 4.67 percent to Rs 1.17 lakh crore in the quarter under review, from Rs 1.11 lakh crore in the year-ago period
Read MoreWhile financial planners plan for retirement, education, marriage, home purchase, travel, etc., they generally miss out on one of the most important life goals – the physical survival goal. Here is how it can be remedied.
Read MoreThe 18 percent refund should sweeten the deal for expat Indians seeking to secure their families back home.
Read More[Partnered] The right health insurance plan should be chosen after giving considerable thought to your needs, finances, and accessible possibilities. It's an investment in your health and financial stability that gives you peace of mind by ensuring that you and your loved ones are covered in the event of an emergency medical situation.
Read MoreHealth Insurance: Healthcare costs are skyrocketing significantly. And, this is when health insurance comes in handy. The financial security of an individual is protected by having health insurance. With the ever-rising instances of diseases, health insurance today is a necessity.
Read MoreIt is wise to purchase a personal health insurance policy even if you have one through your employer
Read MoreSection 80D offers tax breaks on health insurance premium paid for self, spouse, children and parents. You can avail of tax breaks at the time of filing returns, even if you have missed out on claiming these while submitting tax-saver investment proofs to your employer
Read MoreLIC earned net commission of Rs 8,428.5 crore for the last quarter of FY23, growing 5.4 percent over the year-ago period, and showing a massive 33.4 percent increase compared to previous quarter.
Read MoreWorld Health Day 2023: Innovations in health insurance have led to the inclusion of day-care and OPD expenses, and even the cost of preventive health checkups, in certain policies for a reasonably priced premium.
Read MoreLIC Q3 result: The life insurance behemoth’s net premium income grew by 14.5 percent to Rs 1.11 lakh crore for the December quarter from Rs 97,620 crore a year ago
Read MoreA survey by ICICI Lombard showed that about 48 percent of policyholders were unaware of the features of their own health insurance policies, like out-patient cover, pre-post hospitalisation and so on.
Read MoreBuying a term life insurance policy is the decision of a lifetime. So, it’s important that the amount arrived at is correct. Human life value (HLV) is one of the methods of computing the right cover amount.
Read MoreBuying health insurance when you are comparatively younger and healthier will supplement your employer-provided cover for any higher hospitalisation bills and there will be no hassles in terms of renewability. If you want to buy insurance at an advanced age and have some new health issues, insurers may not even be willing to cover you.
Read MoreA term life policy is as valuable for singles as for those married and with children. It will cover your liabilities, and ensure your dependents have financial protection in your absence.
Read MoreSettling claims has never been an easy process, for insurers or for consumers. However, the process can be made simpler if consumers go in for digitally enabled insurance advisors who will help consumers choose the best policy as per their needs
Read MoreThe best option is always to ensure that your policy remains active and the premiums are paid on time. If, for some reason, your policy lapses, get yourself covered again as soon as possible.
Read MoreIn view of the rising incidence of health issues, increased cost of hospitalisation, employees should have a second line of coverage.
Read MoreThe most important document that is referred to at the time of the making a claim is the proposal form that is filled out when applying for the insurance policy
Read MoreIf you don’t want the hassle of renewing your policy each year and can afford the higher one-time premium outgo, opting for a multi-year health insurance plan could work to your advantage.
Read MoreTaking treatment at non-cashless network hospitals, ‘unnecessary’ hospitalisation and ‘unreasonable’ charges are some of the lesser-known causes due to which your health insurance claims could get rejected
Read MoreHealth insurers can incentivise policyholders who meet wellness criteria by offering reward points or lowering health insurance premiums at the time of renewal. This feature is a win-win for both parties.
Read MoreThis Mother’s Day, you should consider purchasing an adequate and comprehensive health insurance cover for yourself and your family.
Read MoreThe main difference is that home loan insurance covers property, while a term policy covers a person’s life
Read MoreLIC reserves up to 10% of offer size for policyholders
Read MoreMedical insurance policies don’t cover all expenses incurred on hospital treatment. Becoming aware of the exceptions will help in the selection of a medical policy and reduce one’s out-of-pocket expenses.
Read MoreA recent survey conducted by the Life Insurance Council showed that 91 percent of those surveyed are aware of what an insurance policy is, but only 60 percent own a policy.
Read MoreWill seek feedback from policyholders on complaint resolution, lay emphasis on data analytics to ensure quick corrective action, says IRDAI chief Debashish Panda
Read MoreThe absence of a valid motor insurance policy will expose you to the risk of huge financial and personal loss, in the event of an accident. The absence of a policy can also land you in legal trouble.
Read MoreCar and Bike Motor Insurance for Fire: Here are the key points you should know Individuals planning to buy a motor insurance for their cars of bikes need to be aware of certain facts when it comes to fire. Representative image
Read MoreThird-party motor insurance cover protects you from the legal liability, financial liability, accidental liability, or property damage that may arise.
Read MoreMany couples put off buying insurance, especially life insurance, considering the subject too morbid. But there are ways to bring this up by highlighting that it is actually a life-saver for your dependents.
Read MoreThe insurer may refuse to extend a policy or in some cases throw in a waiting period or an extra charge, but that's a better alternative than having your claim denied because you weren’t acting in good faith
Read MoreCreate an email that includes all that your family needs to know to make an insurance claim Term life insurance is a crucial step for securing the financial well-being of your family members when they do not have your shoulder to rely on.
Read MoreBoth these options are economical and offer a higher sum insured
Read MoreTalk about everything, ranging from personal finance management, stock markets, investment plans or budget – the more couples converse, better is the education
Read MoreInsurers will invest considerable resources in re-imagining the consumer's journey across the life cycle of a policy
Read MoreOnce you buy a policy, the term rates will remain the same throughout the tenure, so it makes sense to lock into lower rates now
Read MoreThe due date of furnishing of Return of Income for the Assessment Year 2021-22 was July 31, 2021; it has now been extended to December 31, 2021.
Read MoreIn case the minor children have not been appointed as nominees, the guardian can, on their behalf, produce proof such as death certificates
Read More“I know these premiums would pinch us a bit, but both of us know that in case something happens to me in the next few years, our current savings are not enough to take care of Varun’s expenses for the rest of his life.” Madhavi could clearly recollect her late husband Rahul’s exact words while filling his life insurance claim form.
Read MoreThe RBI has been cracking down on weak co-operative banks over the last few years. In 2020, the RBI cancelled permits of three co-operative banks and imposed restrictions on several other banks.
Read MoreEXCLUSIVE: LIC gross investments will exceed Rs 5 lakh crore in FY21, says chairman MR Kumar LIC's`contrarian’ strategy when investing in equity markets, to sell when the sentiment is bullish and buy when the mood is bearish, has paid rich dividends
Read MoreThis deduction is over and above the deduction of Rs 2 lakh for interest payments available under Section 24(b) of the Income Tax Act, 1961
Read MoreIf you do not require the entire PPF account balance in one go, it’s best to extend it
Read MoreAt the end of October 2019, LIC held a market share of 70.9 percent while private insurers held 29.1 percent based on new premium collection
Read MoreLegal heirs of the dead must file income-tax returns for income earned in the year the dead passed away. Legal heirs cannot just merge the income with their own income and file just one tax return
Read MoreWhile many women have a keen sense of finance, in most cases, they take a backseat when it comes to avenues for growing money and making investment-related decisions
Read MoreMR Kumar, chairman of India’s largest insurer, due for an IPO next year, on his management style, the book that influenced him and lessons in leadership.
Read MoreThe term insurance cover should be calculated after factoring in existing savings and investments
Read MoreDuring 2019-20, LIC registered a growth of 25.17 percent in its 'New Business' in terms of first year premium.
Read MoreAs of December quarter there were more than 350 stocks on the LIC's radar and in March quarter, it held stake in 326 stocks.
Read MoreLIC’s term products launched last year, with lower premiums, could be the cheapest ones available in the market
Read MoreThe company has gained a market share of around 5 percent in the highly competitive biscuit segment, helped by Parle-G biscuits, which was proffered by the people while stocking pantry during the pandemic.
Read MoreIt joins Japan, Germany and some other European countries in selling debt yielding less than 0 percent, reflecting the prospect the coronavirus pandemic will cause a severe global recession and bond-buying by central banks to mitigate its impact.
Read MoreThe decision is restricted to six funds which, the company said, have material direct exposure to the higher-yielding, lower-rated credit securities in India that have been most impacted by the ongoing liquidity crisis in the market.
Read MoreThe Government has proposed to widen the scope and reduce the threshold of various transactions to further include even white good purchases, property tax payment, medical and life insurance premium and even hotel payments.
Read MoreThe PM-CARES Fund was set up on March 28 to raise money to deal with any COVID-19 like emergency situation and provide relief to the affected.
Read MoreWhat happens to your EMI burden? Which kinds of loans will the moratorium apply to? What about the interest component? Read on
Read MoreLIC says it will cross its 25 million policy sales target well before March 31. The Coronavirus outbreak and subsequent slowdown has led to uncertainty among Indian companies about their ability to meet sales targets for FY20.
Read MoreThe government official sees scope for a 50 bps repo rate cut
Read MoreInvestors can exit their mutual funds that had Yes Bank bonds, but they may have to do so at a loss
Read MoreThe bank will not be allowed to pay depositors a sum exceeding Rs.50,000/- lying to his credit, in any savings, current or any other deposit account, the government said in a notification.
Read MoreThe premiums for term insurance products may go up by 15-20 percent from April 1 onwards as reinsurance rates have been revised for these policies. LIC customers, however, may see a lower hike.
Read MoreSection 80CCD: Income Tax Deductions under section 80ccd can be availed for contributions made by an employer to the National Pension Scheme.
Read MoreBudget 2020 may ring in massive income tax relief.
Read MoreData from the LIC Annual Report 2018-19 released last week showed that the income from investments stood at Rs 2,21,573.72 crore at the end of FY19.
Read MoreIt is important to fulfil our overlapping needs and desires at the outset itself as we step into the world of financial freedom along with the ability to earn and chose our lifestyle
Read MoreThis is the first time ever any single vertical of the insurer has crossed this record premium income figure, LIC said in a statement.
Read MoreThe World Health Organisation (WHO) stated that India had the highest number of diabetics at 50.8 million till 2018 and estimated that the number will reach 73.5 million by 2025.
Read MoreJapan, Germany and India will battle for third position over the next 15 years, according to the CEBR
Read MoreThis is for the first time in LIC's history that Valuation surplus has crossed Rs 50,000 crore, the insurer said in a statement.
Read MoreIt is important to revisit old plans for completeness and accuracy
Read MoreWhile most provisions are part of the existing rule manual too, the recent notification has introduced a few modifications.
Read MoreIRDAI data showed that women bought 36 percent of the 28.6 million policies sold in FY19
Read MoreLife Insurance Corporation of India (LIC) is the only life insurance company in the country to have no pending complaints at the end of March 2019. According to the IRDAI Annual Report, LIC had no pending grievance despite 102,127 complaints being filed in 2018-19.
Read MoreLIC yet again beat the industry in the collections with a 44.5 percent YoY growth in new premium to Rs 1.2 lakh crore.
Read MoreThe Corporation said any credit-card originated payments towards renewal premium, new premium, or repayment of loan and interest on loans against the policies will not attract any additional charges or convenience fee its parlance, from December 1.
Read MoreThe four policies – professional indemnity, personal accident, property and public liability – put together would cost a doctor less than Rs 25,000 annually
Read MoreBe it a child plan, a unit-linked insurance plan or a traditional money-back plan, you can select one that best suits your requirement and goal.
Read MoreIn 2019, LIC is looking to invest a total amount of Rs 3.49 lakh crore into debt and equities
Read MoreIf you wish to reach your financial goals on time, you need to monitor both aspects of your finances
Read MoreHome Loan Application Status: Here's how to check your housing loan application status online or offline at Moneycontrol. Click the above link to read more!
Read MoreTaxpayers should go through the income tax website and familiarise themselves with the various services available
Read MoreIf you get penalised for bad driving, your motor insurance premium will go up
Read MoreThe list will make it easier for them to manage their monies once they go back to their professional and personal routines
Read MoreAt the end of October 2019, LIC held a market share of 70.9 percent while private insurers held 29.1 percent based on new premium collection
Read MoreIRDAI has floated a draft proposal that will allow insurers to give premium discounts in health insurance for those living a fit lifestyle.
Read MoreLIC saw a 41.7 percent YoY increase in first year premiums in H1
Read MoreLIC asked its policyholders to not believe any rumours circulating on social media about the insurer's financial position
Read MoreYou shouldn’t be basing your savings decision on the notion that your sons and daughters will take care of you in your non-earning decades
Read MoreIRDAI said that linking Insurance premium to traffic violations committed could reduce road accidents and change driver behaviour
Read MoreHealth Insurance for Family: Get the best medical insurance plan to protect & secure your family with the best coverage & benefits. Click to read more at Moneycontrol.
Read MoreThe standard retirement age and hence the coverage duration may not be relevant for everyone and may call for a review
Read MoreLIC's market share stood at 73.17 percent in terms of premium collection.
Read MoreManaging debt, keeping personal and business finances separate, and curbing reckless spending are critical
Read MoreThe ITR-1 form has been simplified this year, making it easier for salaried employees to e-file returns.
Read MoreThe borrowings will be in the form of bonds to be issued by the NHAI.
Read MoreThe amendment, along with 28 others, were approved by a voice vote by the Lok Sabha, which passed the Finance Bill 2019.
Read MoreAll the 24 life insurers had written new gross premium of Rs 16,611.57 in the same month a year ago.
Read MoreLife Insurance Corporation of India (LIC) posted an 81 percent YoY growth in new premiums at Rs 44,794.78 crore in Q1
Read MoreAccording to IRDAI, on the basis of total premium income, the market share of LIC decreased from 71.81 percent in 2016-17 to 69.36 percent in 2017-18.
Read MoreThe pre-Budget survey 2019-20 conducted by KPMG (India) included responses from 226 respondents spanning across industries.
Read MoreThe total policy payouts amounted to Rs 2.50 lakh crore for FY19, showing a 26.6 percent increase.
Read MoreKeep loan EMIs to a maximum of 60 per cent of your salary to avoid getting into a loan trap
Read MoreIf one fails to declare such ‘income’ in the ITR, it could lead to reassessment under Section 147 of the Income Tax Act.
Read MoreThe process has become almost entirely electronic. You must use the correct forms and report the exact details of income as well as deductions
Read MoreA lethal cocktail of high prices, drying up of bank lending and government efforts to reduce black money may combine to produce what many have anticipated -- in vain -- for long: a crash in realty prices in the country's metropolitan cities.
Read MoreSelling, buying and/or mining cryptocurrencies will be considered a non-bailable offence, according to the new bill.
Read MoreIn the case of a jointly-owned property, each co-owner is liable to pay tax on his/her share of the rental income
Read MoreCarefully estimate your regular, unexpected expenses, and medical costs while also factoring in inflation.
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