Life Insurance Policy

Before investing in any tax-saving products, investors need to be aware of mis-selling strategies and must do their due diligence

The imposition of a tax on high-value policies could hurt the growth rates of life insurers in the next fiscal year

Shares of life insurance companies tumbled by up to 11 per cent on Wednesday after the government announced to limit income tax exemption from proceeds of insurance policies in certain cases. ICICI Prudential Life Insurance Company dropped 10.97 per cent to close at Rs 402.55 on the BSE. HDFC Life Insurance Company Ltd fell 10.96 per cent, Max Financial Services Ltd slumped (9.45 per cent), SBI Life Insurance Company Ltd (9.31 per cent) and Life Insurance Corporation of India (LIC) (8.38 per cent). According to Union Budget documents, an individual will have to pay tax on the maturity amount of life insurance policies where the aggregate annual premium exceeds Rs 5 lakh. Finance Minister Nirmala Sitharaman in the Budget on Wednesday proposed "to provide that where aggregate of premium for life insurance policies (other than ULIP) issued on or after April 1, 2023, is above Rs 5 lakh, income from only those policies with aggregate premium up to Rs 5 lakh shall be exempt". This will

Here is the list of industry leaders from life insurance sector on panel for the BS BFSI Insight Summit 2022

The government aims to appoint a private sector professional as the first chief executive of the LIC in an effort to modernise its largest insurer after a disappointing stock market debut

The IPO will consist of a fresh offer of Rs 500 crore and an offer for sale of 141.2 million shares

If your income is likely to revive soon, consider taking a loan against the policy instead of surrendering it

Axis is planning to take a 10% stake for around $9 million in the start-up's upcoming life insurance business, effectively valuing the business at $90 million

Irdai extended the "use & file" procedure to most life insurance products, barring individual savings, individual pensions, and annuity products

Life insurance companies will raise their solvency margin and free up capital that can be used for other purposes

The new business premia (NBP) of the industry have grown at 8.43 per cent in the first 11 months of the current financial year (FY22)

Higher life expectancy, inadequate retirement planning and insurance, and risk aversion are some of the key issues they feel Indian women need to address

You will lose out on the cover, pay a surrender charge, and usually end up paying a higher premium when you buy a new policy

Shareholders get more say on how LIC treats its profit and policyholder's interest

Policies, which are in a lapsed condition during the premium paying term and not completed policy term, are eligible to be revived in this campaign

To combat tighter underwriting standards, consult a distributor that could point you towards an insurer that covers people with your profile

The government has abolished the position of chairman at the insurer, and will have a CEO and MD

In Q1FY22, the life insurance industry reported a 7 per cent increase (YoY) in NBP

Evolved users should opt for the traditional approach of tracking expenses and eliminating frivolous ones