Page 3 - Insurance Policy

How to claim income tax deduction for investments made in April - July 2020

One of the key points to note while accounting for these investments made from April to July is that a deduction once claimed in FY20 on an investment made, cannot be claimed again for FY21

Buy add-on covers to protect against damage due to natural calamities

Since consequential damage is not covered under the base policy, this will be an additional safety net to protect you

Tips to protecting your home and hearth against natural calamities

When buying a home insurance cover, opt for reinstatement value as the sum insured

Out-of-pocket expenses set to fall for policyholders after new Irdai rules

Now insures have to define the associate medical expenses which will be deducted proportionately if a person opts for a higher room category than the category that is eligible

Insurance grace period may give rise to disputes

All policies expiring during the lockdown should be deemed extended for this period and one week thereafter

Covid-19 impact: Life Insurer's new business premium declines 32% in March

For the month of March, the new business premiums of life insurance companies stood at Rs 25,409 crore compared to Rs 37,459 core in March 2019.

Premium perks: Wearables, apps are set to transform health insurance

IRDAI has so far received 173 proposals, most of which incentivise wellness in the health insurance space through the use of apps and wearable devices

Compensate if insured hasn't been negligent

The National Commission did not accept the contention of the insured that the assessment of damage had been done incorrectly by the surveyor

Reader's corner: Can motor insurance policy be transferred to a new car?

You need to inform to the insurance company about any changes or modification you have done to the insured vehicle, says expert

Small-ticket insurance brings feel-good factor, but not adequate coverage

But in terms of sum assured or scope of coverage, the products are unlikely to meet your needs

Irdai plans to standardise insurance guidelines for houses and shops

In the last few years, the need for such standardisation was accentuated by increasing loss of small houses and commercial establishments due to natural calamities

Irdai directs Reliance Health Insurance to stop selling new policies

The company will be merged into Reliance General

Falsity in policy form can lead to claim rejection; check before signing

Claims can be rejected if the information given in the document is wrong

Fines for seeking wrong claims

The claim has to be settled within the scope and ambit of the coverage mentioned in the policy

Besides life and health, here're some must-have insurance policies

Having adequate insurance protection against the exigencies of life may be one of the wisest decisions you can take for a financially secure future

Readers' Corner: Insurance Policy

Insurance need increases as income and liabilities or responsibilities grow, and therefore it is prudent to keep reviewing one's policy at every life stage

Tipping Point: What is a paid-up insurance policy?

Many convert Ulips as well, if they are underperforming

Saving for your child's future

Child-centric investment products suit those who cannot maintain financial discipline

Portability can be tricky for older customers

The earlier in life you decide to port, the smoother the process is likely to be

Arm yourself with these insurance covers this monsoon

Covers for those living in dengue-prone localities and covers to protect car from waterlogging