Life Insurance Policy

Ask for a benefit illustration of the 'tax-saving' plan you're being sold

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

4 things to consider before purchasing life insurance

The life insurance sector's trouble with taxation on high-value policies

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

Life insurance firms' shares fall on taxation proposal related to policies

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

BS BFSI Insight Summit 2022: Meet industry leaders of life insurance sector

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

LIC gains 4%, hits over 3-month high in subdued market

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

BoB-backed IndiaFirst Life Insurance files DRHP with Sebi for IPO

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

Consider loss of cover, deductions before surrendering life insurance plan

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

Axis Bank eyes 10% stake in Go Digit life insurance business: Report

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 wants life insurance firms to eye 50% premium growth in 5 years

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

Life firms ask regulator to allow risk-based solvency regime for ULIPs

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

Life insurers eye double-digit growth as Covid-19 pandemic pain eases

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)

Three top women execs and the challenges they face in their financial lives

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

Allowing your life insurance policy to lapse carries a very high cost

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

LIC IPO: How the embedded value of the insurance behemoth was calculated

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

LIC offers opportunity for policyholders to revive lapsed policies

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

Compare premium rates to get a policy that best suits your pocket

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

IPO-bound LIC chairman M R Kumar to complete his term: Govt official

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

Life insurers' new business premiums grow 4% YoY in June after dip in May

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

Beginners may opt for 50:30:20 strategy for simplifying budgeting

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