If you’re not paying attention to inflation while investing, it could seriously impact your savings. That’s why it’s so important to consider inflation when you’re planning your investments.

Term insurance is a straightforward life insurance policy that provides coverage for a specific period, or 'term'; if the insured person passes away during this period, the policy's beneficiaries receive a death benefit.

LIC’s new biz premium zooms past 25% in April-Sep quarter, to ₹ 1.15 lakh crore

Let’s debunk nine common life insurance myths and offer some valuable personal finance tips to secure your financial future this festive season.

A woman from Faridabad was cheated out of Rs 7 crore, a businessman from Noida lost Rs 9 crore, and a doctor from Punjab’s Bathinda was defrauded of Rs 6 crore. These are just a few of the victims of a massive scam recently uncovered by India's Enforcement Directorate (ED).

New PPF rules effective today streamline account management for minors, multiple account holders, and NRIs, impacting interest rates and regulations.

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.

Most 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.

5 reasons health insurance claims get rejected

A common mistake is assuming that the value of retirement savings will remain constant over time. For example, a ₹5 crore corpus today will lose significant purchasing power over 25 or 30 years due to inflation.

Gift 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.

A 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).

Life Insurance Corporation of India (LIC) MD and CEO Siddhartha Mohanty has said that the corporation is looking to make fresh investments of around Rs 1.30 trillion in equities during the current financial year.

The insurance plans were launched on Monday by LIC CEO and MD Siddhartha Mohanty and will be available both available offline and online.

Any individual may submit an updated return, with certain exceptions, irrespective of whether they have previously filed an original, late, or amended return for the applicable assessment year.

ITR Filing Date 2024 Live Updates: The income tax return deadline might be extended beyond July 31. Fresh updates from Income Tax Department on ITR deadline extension! What we know so far about the current status and when to expect refunds after e-verification and processing of income tax return.

As 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.

Taxpayers eagerly await budget announcements that will increase their disposable income. Here are a few of the main anticipations that taxpayers have for Budget 2024.

Union 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.

The 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.

The 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.

No 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.

ITR Filing 2024: Penalty amount for filing income tax return after due date will be imposed. Taxpayers need to be alert as the deadline to file ITR is approaching fast.

It is crucial to remember that your financial information holds significant value, encompassing all your investments and earnings for the year. Here are several important considerations to bear in mind before disclosing your ITR details.

The existing standard deduction of Rs 50,000 is considered inadequate to address the rising expenses linked to the increased cost of living and, therefore, it is imperative to raise the limit of this deduction.

The Income Tax Department has issued a strong advisory to taxpayers, advising them against submitting income tax returns with inaccurate claims for exemptions and deductions.

Regularly monitoring your financial records and staying alert for any suspicious activities is crucial for early fraud detection.

In order to file a tax return online, you can access the new income tax portal logging in with PAN-based credentials and following certain steps that simplify tax filing process.

National Insurance Awareness Day 2024: The event is set to be observed on 28 June, this year.

Our health deserves centre stage more than ever. As medical bills skyrocket and unexpected health crises loom, having a health insurance policy acts as a reliable safety net. It ensures you can access necessary care without fretting over finances. Understand six significant perks of having a health insurance policy in 2024.

There are 7 ITR forms the Income Tax Department has notified, and often, taxpayers get confused which ITR form is applicable to them.

Taxpayers required to file their income tax return should take into consideration the following.

Currently, the benefit of section 80C is not available under the default (new) tax regime and it would be expected that this benefit be extended to even the default tax regime.

After the new government formation, the focus is now shifted to the Union Budget 2024-25. Taxpayers are hopeful that the Modi government will give them a tax relief in the upcoming budget. Experts too are of the view that FM Sitharaman would at least make some revision in deduction limits under Section 80C and 80D.

Every taxpayer should make an effort to mitigate their tax liability by claiming all the available deductions and exemptions at the time of furnishing their tax returns. However, such deduction/ exemption amount should be correctly computed after considering the tax regime, residential status etc.

Under Section 30 of the Indian Succession Act, if someone dies intestate, the court may issue a notice to invite claims over the property left behind after the death certificate is issued.

LIC 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.

The 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.

With 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

With a comprehensive financial retirement plan, it is easy to tide over apprehensions of exhausting the corpus that may have been built during the work years.

There are two aspects that cause concern for individuals when it comes to health insurance. The first is the time period for which they will be covered and the other is the cost that they will pay for this coverage. Both are problem points for senior citizens as they often find themselves without a cover when they most need it.

In a landmark move, IRDAI has removed the age limit of 65 years for individuals buying health insurance policies. This marks a departure from the conventional constraints that limited individuals in securing comprehensive coverage. CNBC TV18 spoke to several experts for their take on the policy shift and its implications.

The 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.

Insurance 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.

A quick guide for policyholders From April 1, 2024, the surrender value is expected to remain the same or even lower if policies are surrendered up to a period of within three years, as per IRDAI.

According to the report, Cathay Life Insurance is the second strongest brand, with a 9 per cent increase in brand value to $4.9 billion

As the current fiscal year is coming to an end, taxpayers are searching for different methods to reduce their taxes.

The 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.

The survey, based on responses from over 23,000 respondents, also shows a 43% increase in the number of women purchasing individual coverage

The whole idea why waiting periods exist is that people should not abuse insurance.When there is a pre-existing disease declared in the proposal form, it will have usually a 24- 36 month waiting periodA lot of health insurance policies provide options to the customer to reduce the waiting period for pre existing diseases by paying an extra premium

International 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.

By working together, insurers, regulators, and stakeholders can further create a more inclusive and equitable insurance ecosystem that empowers women to protect themselves and their families effectively.

It is said that women are the real architects of society. They play different roles like Mother, Wife, Daughter, Sister effortlessly apart from managing their day to day work.

In every growing society, women are back bone of it and we are proud to say that we play a small part in strengthening the back bone by helping women become financially empowered.

New plan is specifically designed to have an adequate corpus to meet the higher education and other needs of a child, says Life Insurance Corporation of India

The product is targeted at parents who wish to create a long-term corpus to meet the higher education needs of their children.

LIC surged five per cent in open trade, continuing its stellar performance from Thursday when it hit an all-time high.

Life 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.

The 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

Life Insurance Corporation of India (LIC) has launched the unit-linked, regular premium, individual life insurance plan Index Plus, which offers life insurance cover-cum-savings throughout the policy term

Life insurance is an important component of financial planning in India, offering protection and security for loved ones. When selecting a provider, individuals should prioritize those with high claim settlement ratios and swift turnaround times.

Under the 'Cashless Everywhere' system, policyholders will have the liberty to select any hospital for their treatment, breaking away from the limitations imposed by agreements or tie-ups between insurance companies and healthcare providers.

One major expectation is higher government investment in the insurance sector. Higher budgetary allocation, they believe, will provide the sector with the requisite impetus

Wellness benefits are integrated into health insurance plans to engage individuals in activities that promote physical and mental well-being.Wellness points, earned through proactive health measures, can be utilised in various ways.For monitoring individuals' health, various wearables, apps, software and tools are available.

Insurance can be a strategic tool for tax optimization, offering financial safety net and potential tax-saving benefits.

Health costs are rising fast and it has becoming increasingly difficult to cover medical expenses from your own pocket. In such a situation, a family health cover is important to meet medical expenses of your family members.

IRDAI has urged insurers to introduce tailored policies aimed at specific demographics, such as senior citizens and millennials, acknowledging the diverse needs within these segments.

Life Insurance Corporation of India (LIC) has introduced several new plans in 2023 by unveiling a range of compelling insurance products. LIC introduced a product posed to gain substantial traction in the market.

Having insurance coverage is crucial for managing a health emergency, but it’s equally important to maintain financial stability when faced with a health crisis. Often there are many confusions and doubts when you purchase a term insurance plan, but these can be addressed if you carefully assess your requirements

By following these guidelines, policyholders can significantly reduce the chances of claim rejection and ensure a smoother experience with their health insurance coverage

The Indian life insurer stood fourth on the list by S&P Global based on reserves. LIC has reserves of over $500 billion, as per the report. Sector watchers say that Asia is the next major market for growth for life insurance companies.

Life Insurance Corporation of India (LIC) has introduced a novel plan encompassing individual savings and whole life insurance. The plan is called LIC’s Jeevan Utsav with effect from November 29, 2023. This plan is non-linked and non-participating, offering extensive life insurance coverage throughout one’s lifetime.

LIC Jeevan Utsav insurance plan will provide assured returns and after maturity, the policyholder will get 10 percent of the sum assured life long.

Having health insurance is crucial for ensuring financial protection in case of medical emergencies. However, it is disheartening to know that a majority of claims get rejected by insurance companies.

Consider this scenario: Did you buy a health insurance cover of Rs. 3 – 5 lakhs for your family a few years back? At that time, the cover amount would have been adequate, but not today. Consider another scenario: Your employer provides you a health insurance cover of Rs. 3 – 5 lakhs for your family, or you are covered for a similar amount under a State Government health insurance scheme. 

Even treatments that require less than 24-hour can qualify as day-care treatments and are thus eligible for health insurance coverage. Read to know what's included and what's not.

Today (30th October) is World Savings Day, A Special Day which re-emphasizes the importance of savings in our day to day life. Right from our childhood, We have been taught that "A Penny Saved is A Penny Earned'. The Phrase highlights the importance of savings which is an proven way for Financial Success.

To chart out a personal finance strategy without factoring in unexpected medical expenses is practically impossible in today’s world. It wasn’t too long ago when the world experienced an unparalleled health crisis in the form of a deadly pandemic, the after-effects of which can still be felt with long-term health issues. On top of that, the cost of healthcare is rising across the world.

While 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.

Buying health insurance can be a complex process, but it’s important to get it right. By avoiding the common mistakes, you can choose the best health insurance policy for your needs and budget.

Here are some key points to consider before purchasing health insurance policies for senior citizens

The 18 percent refund should sweeten the deal for expat Indians seeking to secure their families back home.

Health insurance is one of the most critical investments you can make keeping in mind the rising medical costs in the country. Getting a health insurance policy at an early age helps in better financial planning. This is because health insurance helps in saving taxes and provides financial assistance for medical expenses.

Rising healthcare costs and inflation are making it increasingly important for senior citizens o have health insurance. As we age, our bodies become more vulnerable to diseases and lifestyle disorders, which can lead to unexpected medical expenses.

To qualify for GST refunds on health insurance, the proposer must be a Non-Resident Indian.

There are a number of reasons why a health insurance claim gets rejected. Policyholders can take a few measures to get the claim approved.

A loan against insurance policy can be helpful during emergencies as it offers considerably higher loan value at comparatively lower interest rates. Many LIC policies come with a loan facility and the loan amount is based on the surrender value of the policy.

Understanding the reimbursement process and adhering to the necessary steps and documentation requirements is essential for a smooth and successful reimbursement claim experience.

Scary as it may sound, with climate change now a reality, all our cities are likely to experience devastating floods. We have seen it in Mumbai, in Chennai, in Bangalore, and very recently in Himachal and Uttarakhand. Let us take the case of Mumbai.

We observe “Life Insurance Awareness Month” in September every year, thus, reminding people of the need to focus on buying a life insurance plan.

Choosing between a term plan and a money back policy can be difficult as they both offer appealing benefits. However, the decision should be based on the specific needs of the insurance buyer.

[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.

It's bad enough that you have been incapacitated with some disease or loss that has caused you to lose time and money; what is probably as bad is the paperwork that is inevitable, the processes that must be followed to get your insurance claim processed.

Health insurance plans help subscribers to meet unexpected medical expenses. Different health insurance plans cover costs of treatment and surgeries for a wide range of medical conditions.

Many people opt for health insurance in their 30s but they often fail to calculate the ideal sum assured or the amount that will be paid by the insurer in case of any unfortunate event.

The Finance Act, 2023, amended section 10(10D) of the Income Tax (I-T) Act to remove the exemption available to sum received from a life insurance policy in case the aggregate premium for all policies issued on or after the 1 April exceeds ₹5 lakh.

The 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.

While thorough research helps to find the best health policy in the market, there are a few factors that could cause problem for the policyholders. In India, health insurance policy holders face several issues from rejection of claim to insufficient coverage.

Check for exclusions, deductibles & limitations in the insurance policies

A hospital cash insurance policy is a specialized health insurance plan designed to provide policyholders with a fixed cash benefit for each day they are admitted to a hospital due to illness or injury.

Choosing the right Health Insurance plan and adequate coverage is crucial

Buy these add-ons early in life to get higher and wider coverage

Richa, a 35-year-old professional, purchased health insurance with a low premium, intentionally failing to disclose her smoking habits and pre-existing heart condition to keep costs down. However, when she required urgent heart surgery a few months later, her insurance claim for the expenses was denied after the company discovered her undisclosed medical conditions during their investigation.

Upgrade your policies as you move from one life stage to another.

LIC Jeevan Kiran (Plan 870): The Life Insurance Corporation of India (LIC) has launched a new plan named Jeevan Kiran.

Inflation is an inevitable aspect of any economy, and its effects can ripple through various financial instruments, including life insurance policies.

Health 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.

Let’s understand differences between Term Insurance and Life Insurance, enabling you to make the right decision when choosing the coverage for your specific needs.

As the rainy season approaches, it brings with it an array of diseases and health risks that can affect individuals of all ages. From common ailments like stomach infections and coughs to more serious conditions such as viral fever, cholera, and malaria, the rainy season leaves us vulnerable to various illnesses if left untreated.

Insurance is an important part of personal finance, especially after the COVID-19 pandemic, when people are choosing life insurance and health insurance to avoid any risk. Insurance can be defined as a contract between an insurance policyholder and an insurance company that secures the finances of beneficiaries and their family members in emergencies.

Over 160 dengue cases have been reported in the national capital till mid-July this year, the highest for this period since 2018, according to a municipal report released on Monday, July 17. The report, issued by the Municipal Corporation of Delhi (MCD), also said 54 cases of malaria have been recorded in the same period.

For individuals living paycheck to paycheck or facing tight budgets, health insurance premiums may be seen as an additional financial burden.

Personal recommendation from friends and family or a known agent is the top trigger for insurance consideration for approx. 80% of the respondents.

The pandemic has undeniably imparted valuable lessons, foremost among them being that "health" is our most precious asset.

Life insurance helps to safeguard individuals and their family against financial risks because of untimely death. Life insurance policies can also be pledged to avail loans during any financial emergency.

LIC Dhan Vridhhi (Plan 869): The Life Insurance Corporation (LIC) of India has launched a new close-ended plan – LIC’s Dhan Vridhhi plan. Check key details

Individuals with a family history of diseases such as cancer or coronary artery bypass should opt for adequate critical illness cover. While a comprehensive health insurance policy provides coverage for expenses like hospitalisation, a critical illness policy will provide a lump sum benefit upon diagnosis of a covered critical illness, regardless of medical expenses.

It is wise to purchase a personal health insurance policy even if you have one through your employer

Section 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

As the medical needs of senior citizens may differ from people of other age groups, it is crucial for them to check the coverage, what is covered and not covered, available optional features and add-ons,

LIC 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.

LIC'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.

Insurance plans are beneficial to anyone looking to protect their family, assets/property and themselves from financial risk and losses. Rising inflation, increasing medical costs, increase in lifestyle diseases, uncertainty in climatic conditions are good enough reasons for people to protect themselves with a strong financial cushion.

Know about Health Insurance Policy, its types, benefits and factors to consider while buying the Best Health Insurance Policy

The Reserve Bank of India (RBI) on Friday decided to withdraw Rs 2,000 denomination banknotes from circulation. The central bank said that all Rs 2,000 currency notes must be exchanged before September 30, 2023.

The Indian health insurance industry has seen massive transformation in the last few years. Post the COVID-19 crises, policyholders have turned their attention to the importance of having an appropriate health insurance policy.

The 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.

Health insurance has become a high priority financial risk mitigation measure for individuals as well as families. Hospitalizations of family members during Covid-19 showed how grossly unprepared many were financially to meet hospitalization expenses.

How do you plan to wish your mother this Mother’s Day? Mother’s Day would be observed on May 14 this year. Apart from the gifts and flower bouquets that you might consider gifting, why not buy her insurance to secure her health and future in the long run? It’s not surprising to consider gifting insurance to your mother.

If policyholders have higher income and can afford higher medical expenses, they can go for a higher deductible amount to lower the total premium payout.

Facing a term insurance claim rejection can be distressing, particularly when the policyholder is the primary financial provider for the family. Although the policyholder might not be present to address a denied claim, it’s vital to understand and avoid common pitfalls that can lead to term insurance claim rejections.

The purpose of the health insurance is to cover the hospital bills and related expenses. Today, we will give you top reasons why you should buy health insurance today and should not depend only on health cover provided by the employer.

Considering the uncertain times we live in, health insurance comes in handy — irrespective of your age. Often, people make the mistake of underestimating the importance of getting insured in their early years, thinking that it brings value only in the later stages of life. However, no matter what the age group, unforeseen circumstances may strike at any point.

Protecting future income is very critical at every age of an individual. Further, the protection needed also needs to be assessed periodically

World 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.

Medical emergencies can happen at any point in one’s life. Rather than spending time arranging finances for bills at the last moment, it is always safe to have a backup ready. And, for that, we have health insurance. These insurance policies provide coverage for the cost of medical expenses incurred by an individual or a group.

You should promptly respond to the income tax notice and provide all the necessary documents. Filing income tax returns (ITR) within the due date is mandatory to avoid any penal action by the income tax department. If your total earnings in a financial year fall under taxable income, then it is necessary to file ITR.

India has a great demographic advantage - we are a nation of youngsters, with about 65% of Indians below the age of 35 years. Our bright youngsters are making great strides in all areas and are contributing to the growth story of the country.

New income tax rule 2023: After ushering in new financial year from 1st April 2023, a good number of income tax rules are going to change. These income tax rules have been changed on the basis of Union Budget 2023 proposals that have been passed by the parliament in recently through Finance Bill 20223.

Don’t just go for the policy with the lowest premium. Conditions could apply, and you could end up spending a lot more than you saved on the premium.

Insurance 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,

ax incentives have always acted as a catalyst in ensuring wider insurance adoption. Though well-balanced and growth-oriented, the most awaited financial event of the year - Union Budget - turned out to be a wistful affair for those expecting a tax rebate over and above the standard limit on insurance policies.

The focus on health insurance lately has taken a different trajectory especially post-COVID where most of us have at least understood that we should have some coverage available at all times.

ITR filing: Last date for submission of income tax return for FY 2019-20 is 31st March 2023.

Most individuals are cognizant of the need to factor in inflation and rising medical expenses while planning for their life’s new chapter.

Insurance and investment are both important aspects of financial planning and should be considered together to create a well-rounded financial plan.

Unlike term plans that provide life risk cover or unit-linked schemes, where returns are market-linked, endowment plans offer maturity benefits upon survival & minimum guaranteed return.

It’s that time of the year again when tax planning is on everyone’s priority list. While one looks at growing their wealth, it’s also important to secure your health as a medical emergency can shake up the foundation of your financial planning.

Family Floater Health Insurance plans work on the same principle as that of individual Health Insurance plans but extend their coverage to all family members.

The policyholder can claim tax benefit of up to `25,000 under Section 80D for self, spouse and children year on year for the entire tenure of the policy.

Life insurance helps safeguard one’s family and oneself against two types of financial risks – untimely death and old age.

"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.

A person who has cancer and doesn't have any health insurance will find it difficult to buy a regular hospitalisation cover. An indemnity-based cancer plan may cover them.

Insurance products currently available in the market can be broadly categorized into two types—a pure vanilla term insurance plan and others. All ‘other’ insurance products would either be market-linked or provide guaranteed returns which are generally equivalent to the level of fixed-deposit rate of returns

Life Insurance Corporation of India (LIC) has launched a campaign to revive old insurance policies that were closed before maturity. Under this, LIC policyholders who shut their policies for any reason can start them again. The campaign will run till March 24, 2023. The insurance behemoth is also offering concessions in late fees during this tenure.

LIC 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

A 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.

New Income Tax Slabs and Major Highlights of Budget 2023

The Budget is a financial blueprint that lays out the government's plans for revenue and spending for the upcoming year. This year's pre-Budget discussions have been particularly important as the world is still reeling from the economic impact of the COVID-19 pandemic. The government is expected to take into consideration the present global economic landscape while formulating the Budget.

Automatic restoration, Cumulative bonuses, Annual health check-ups, Wellness discounts, Renewal discounts, Second medical opinions etc., are some more benefits offered by many Health Insurance Industries.

This blog post explores 10 potential problems you could face without health insurance. Continue reading to learn how to protect yourself and your family from the risks of being uninsured.

New Delhi (India), January 23: A term plan is a type of life insurance policy designed to provide financial benefits to a chosen beneficiary upon the death of the insured. It offers coverage for a specific period, most often 10, 15, 20 or 30 years and typically has no cash-value component.

Acquaintances often request me to suggest life insurance products that can fetch high returns. Occasionally, they are subjected to product presentations by insurance advisors, showing returns that make them thrilled but also make them circumspect on whether the insurance products can really earn such high returns.

The Life Insurance Corporation (LIC) of India has launched Jeevan Azad (Plan No. 868), which is a new plan aimed at individual savings and life insurance. As per LIC, the plan offers an attractive combination of protection and savings.

Before the 1st of January 2023, it was not mandatory to get your KYC done for buying insurance policies.

India has a major share of the millennial demographic — 34% of the total population — to be precise. While this might be a significant percentage, before the pandemic struck, this consumer segment seldom considered having an adequate insurance policy.

Union Finance Minister Nirmala Sitharaman will present her fifth budget on February 1. The Union of India contains the government’s revenue and expenditure for a given fiscal year and is a massive and complex document. Here’s your guide to understanding various financial jargon that you may come across in Finance Minister Nirmala Sitharaman’s Budget speech.

Healthcare costs in our country have been rising at a faster pace. According to the latest reports from various health organisations, healthcare inflation in India is 14% per annum. While creating a financial plan for the family, insurance plays an important role in managing the risks. We have already discussed term insurance as a measure to mitigate the risk of death.

“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

Buying 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.

At 96%, LIC had the highest settlement ratio for death claims under individual death policies by value in FY22, data released by insurance regulator Irdai showed.

Group medical cover (GMC) covers the employee and their dependents such as the spouse and children and in certain cases, parents are also covered.

As young people are more healthy compared to the older people and have lower risks of getting ill, their participation helps in reducing the health insurance premium and make it more affordable for everyone.

Irrespective 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.

Senior citizens have limited options while buying health insurance, and that is why they must exercise utmost care before choosing one.

Buying 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.

As per Section 10(10D) of the Income Tax Act, 1961, death benefits are always tax-free. Maturity benefits, however, are taxed based on the premiums.

The policyholders can very conveniently get the services like Premium statement, ULIP plan statement

There are two primary kinds of No-Claim Bonuses that you can take advantage of in a health insurance policy.

Life insurance is the fastest and easiest way to ensure that your family remains financially protected. It can clear debts, pay for a child’s education, bear medical expenses, and secure the business and assets of a family.

Your health insurance premium increases, especially if the sum covered is large and you have certain medical conditions.

It is better to revive a lapsed policy rather than buying a new one

Before opting for a health policy, individuals should go through the entire specifications of the product, including the coverage, exclusions, waiting periods, and sub-limits, if any, along with the premiums, and opt for a product only after evaluating their requirements.

Health Insurance, often known as medical insurance, covers medical expenses that arise due to an illness, injury and/or accident.

Given 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.

Notwithstanding the level of success you achieve, its longevity cannot be guaranteed. Among other things, permanent disability or death — the God may forbid — can throw all your plans and financial security of your family out of gear.

Life is a long journey that includes a variety of financial goals and entails many unforeseen circumstances. You will always strive to ensure a brighter and safer future for your loved ones, and having a sound financial plan in place can go a long way towards making it a reality.

Motherhood is one of the most loving experiences in everyone’s life. Planning for a child is one of the critical decisions for couples though it brings joy in every couple's life. The joy of bringing a newborn into the world comes with so many medical costs whether it is a normal delivery or C-section.

In these times, health insurance has become a neccesity as it guarantees that a long-term medication does not put your family in financial jeopardy. You can obtain coverage under a comprehensive health insurance plan by paying a nominal fee to the insurer. This helps safeguard your savings from the unexpected shocks of medical procedures.

Optimise your policy with cashless OPD & restoration benefits.

Are you among those who has all their life perceived sewing to be for older people? Or restricted to just women? Well, now’s a good time as any to send those thoughts through the shredder as we elaborate on how sewing as an activity is hugely beneficial for young people and especially kids.

The Income Tax rules have several provisions through which employees can reduce their overall tax outgo.

Having a comprehensive health insurance becomes absolutely necessary in old age to cover the increase in expenditure on medical treatment and to cope with the high rate of inflation in the healthcare sector.

Term insurance is a pure protection policy that provides coverage against death. Many insurance buyers in India prefer buying term insurance over other life insurance policies mainly because it offers high coverage at a nominal cost; the premium for term insurance plans is the lowest amongst all life insurance plans in the market. 

Physical illnesses may have tangible and evident symptoms, but most mental concerns go unnoticed or ignored.

This Diwali, rather than getting into a spendthrift mode, invest in your future and make a long lasting choice of being invested in a Guaranteed Life Insurance Plan.

This Diwali, light the lamp of financial freedom Diwali, one of the most awaited festival of the year is here. It is a celebration of good over evil and light over darkness. It is also a time for shopping, delicious sweets and quality time with family and loved ones.

LIC Dhan Varsha (Plan No. 866) Scheme Details – Features, Benefits, Maturity, Minimum and Maximum Premium – Life Insurance Corporation recently launched the Dhan Varsha scheme.

A Complete Health Insurance Portfolio Review is the need of the hour amidst the uncertainties we continuously experience.

While there is a relatively better understanding now regarding term insurance policies, the wealth accumulation products can be a bit confusing for the new customers.

While the policyholder completes his part of the commitment by paying due premiums; fulfilment of the promise from the insurer’s side is completed by payment of the rightful claims.

A 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.

Life Insurance Underwriting is the process by which life insurance companies determine a customer’s eligibility for a particular policy.

Settling 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

The 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.

The MWP Act is a provision that protects the insurance money from creditors, banks and government agencies.

There are several grounds on the basis of which your health insurance claim can lead you straight to rejection or partial settlement.

In view of the rising incidence of health issues, increased cost of hospitalisation, employees should have a second line of coverage.

If you hold a car cover with Zero-Dep benefit, then at the time of a claim, the full IDV can be claimed without deduction for depreciation and damaged parts.

The 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

Taking an adequate insurance cover before you start your investment journey is like laying a proper foundation before constructing a building.

Factors like age, financial assets, liabilities, annual income, lifestyle and expenses of the dependents are some of the factors which make one decide the required life cover.

The 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.

If 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.

The scale of this massive outstanding amount is much higher than the budgets of many central government ministries Unclaimed amounts include settled claims which haven’t been paid out, sums which become due when policies mature as well as excess amounts paid which are to be refunded

Taking 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

Health 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.

At 89%, the survey revealed the highest number of respondents willing to renew their health cover belong to tier-2 cities, compared to 77% from tier-1.

Using wrong fuel in a vehicle can cause some serious damage to its engine. However, motor insurance policies do not provide any protection against such act of negligence. 

Review your home insurance requirement every year so that your home does not remain underinsured following an enhancement in the value of your home

Compensation towards Covid death claims were reported under individual, group policies and the PM Jeevan Jyoti Bima Yojana (PMJJBY). Back-of-the-envelope calculations indicate that the average claim per person was Rs 7,63,965.

A sound financial plan for mothers has to take cognizance of their evolving needs as they go through different stages of motherhood, right from pregnancy to their old age.

This Mother’s Day, you should consider purchasing an adequate and comprehensive health insurance cover for yourself and your family.

Personal health insurance serves as a financial umbrella for the insured person, and in this case, it's your mother.

While it’s great to have corporate insurance as an additional layer of protection, the key ingredient to shield you from rising medical inflation is, in fact, an individual health policy.

As healthcare continues to become expensive, it has become important for everyone to get adequately covered through health insurance. Experts suggest that one should be careful while selecting the right amount of health cover. 

This unique safety is also needed by the people who want to save with high guarantee of reasonable returns on the amount saved every year.

The main difference is that home loan insurance covers property, while a term policy covers a person’s life

LIC reserves up to 10% of offer size for policyholders

It is advisable to purchase a good health insurance policy at the right time to protect ourselves from getting into financial difficulties because of health emergencies.

According to some surveys, the awareness about the necessity of having insurance cover has been increased only after the damages done by the COVID-19 pandemic.

Medical 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.

A 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.

Will seek feedback from policyholders on complaint resolution, lay emphasis on data analytics to ensure quick corrective action, says IRDAI chief Debashish Panda

Health insurers also offer top-up policies to meet the actual expenses over and above the limit available in the basic health policy.

The 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.

Car 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

These policies were introduced by Insurance Regulatory and Development Authority of India (Irdai) in June 2020 in the midst of the Covid-19 pandemic for financial protection in case of a medical emergency due to Covid.

Third-party motor insurance cover protects you from the legal liability, financial liability, accidental liability, or property damage that may arise.

Under monthly mode of payment the insurers offer a grace period of 15 days from the due date within which the premium installment must be paid.

General insurers already seeing surge in travel insurance demands, expect ‘significant increase’ in insurance cover demands in next couple of months

Given the nature of term insurance, you will be out of the picture at the time of claim settlement. So make it hassle-free for your nominee If your policy had lapsed earlier,

Many 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.

Opting for international travel insurance can help travelers enjoy their trips without any hassles or interruptions.

Section 80D allows taxpayers to avail tax deductions on the premiums paid towards health and medical insurance in a financial year

The 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

It’s time to give the due recognition to the women in your family during this Women’s Day for the responsibilities that they share with their male counterparts.

While India’s Life Insurance penetration is comparable to Asian peers at 2.8 per cent of GDP, the protection gap is alarmingly high especially among women.

Health insurance is one of the most important tools to help us pay hefty hospital bills and avoid a financial crisis.

Most of us do not read the offer documents of a health insurance policy and later blame the company for rejection/deduction of insurance claims. Most insurers apply sub-limits to the claim amount of health insurance policy to limit their liability under certain covers. It is important to note that being a part of original policy coverage limit, these claims are inclusive of sum assured.

Create 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.

LIC IPO is pegged as the largest ever issue in the country LIC had previously pointed out that policyholders are required to link their PAN cards to become eligible for subscribing to LIC IPO

Today, 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.

Both these options are economical and offer a higher sum insured

To avoid crowding at the limited numbers of government-run hospitals and to get quick medical attention, many people have no option but to visit private hospitals. However, treatments in private hospitals are generally very costly and the rate of inflation in treatment costs are also very high.

Insurers have to specifically give reasons for any claim denial and refer to the corresponding policy condition

Talk about everything, ranging from personal finance management, stock markets, investment plans or budget – the more couples converse, better is the education

LIC IPO Date, Price, Size: India has filed draft papers for nationa biggest-ever IPO. All you need to know before investing

An adequate medical insurance cover for your partner this Valentine's day can take care of diagnosis, treatment and healthcare in the most affordable as well as dignified manner.

Shaktikanta Das during a press conference stated that private cryptocurrencies are a major threat to the macroeconomic and financial stability of the country

If you have resolved to buy a life insurance policy this year, here are some guiding points that can help you get started on your protection journey

In a recent notification, the UIDAI also said that one can order Aadhaar PVC card for the whole family using just one mobile number

LIC of India has revised the annuity rates of two annuity plans recently.

Here are some important tips senior citizens should not forget before buying a health insurance policy.

Cancer is dreaded across the globe and accounts for more than 10 million deaths worldwide every year.

Life Insurance Corporation, which is bound for the nation's largest share sale, is the strongest and the largest brand in the country with a valuation of $8.656 billion

Some minor changes under the income tax laws which affect individual tax payers have been proposed in the Budget 2022 by the finance minister.

NEW DELHI: Finance minister Nirmala Sitharaman on Tuesday kept the income tax slabs unchanged yet again in what was a largely infrastructure-focused budget for the coming financial year.

Union finance minister Nirmala Sitharaman presented the Union Budget 2022 today. In its Union Budget 2022, the government has massively increased capital expenditure target to Rs 7.5 lakh crore from Rs 5.5 lakh crore in the last Budget for FY23. The hike in capital expenditure will be a huge boost for the economy and for crowding in private investment to spur job creation.

Inadequate savings: When it comes to saving money, we as a nation are quite good at it, no? But do we save enough to encounter medical emergencies? The savings are inclined more towards being invested for better returns in the future.

While buying a health insurance policy for protection against cancer here are the 12 factors you should consider

Insurers will invest considerable resources in re-imagining the consumer's journey across the life cycle of a policy

Tax exemption on maturity proceeds of Ulips with an annual aggregate premium of over Rs 2.5 lakh has been removed. However, there will be no tax on proceeds in case of death of the policyholder

ITR Filing Deadline for AY 22 Extended: In the wake of coronavirus outbreak, CBDT has extended the various deadlines to file Income Tax Return for AY 2021-22. Know who will eligible to take benefit of this decision.

India’s largest life insurer’s assets at $463 bn; The 65-yr-old insurance behemoth’s AUM accounts for 18% of India’s GDP

In an endowment plan, the sum assured along with bonus is paid on maturity while in the money-back plan, a portion of the sum assured is paid to policyholder at regular intervals.

How much will be enough? That’s the question everyone stops at. There is no one answer. It depends on your current income, your lifestyle, your dependencies, etc. And how much ever you need, you can’t save it all. You will have to let your money grow to that.

The CBDT has rolled out the new Annual Information Statement on the Compliance Portal which provides a comprehensive view of information to a taxpayer with a facility to capture online feedback.

From next year, only the nominated members will be able to withdraw the EPF savings in the event of subscribers' sudden demise.

To ensure the financial well-being of your children, let us learn about five financial gifts one can leave for their family.

People are generally under the impression that the due date is also the last date beyond which you can not submit your ITR, which is not correct

As per the RBI rules, all Credit bureaus are mandated to issue one free full credit report, including credit score, to anyone who asks for such a report.

Failure to comply with the deadline may create inconvenience for the defaulters.

Insurers to increasingly focus on bundled offerings with hybrid features, innovative bite-sized or context-based solutions

Very soon we will be entering the last quarter of the financial year 2021-22, hence this is the time to do the necessary computation and transactions.

There has been a rise in awareness about the benefits of insurance, but the sector still has a long way to go

Not renewing an insurance policy even during the grace period defeats the purpose of buying a cover and your financial protection is at risk

Always remember to read your policy document and the terms and conditions of the policy to know what is included and what is not.

A normal health plan is a must for covering most of your medical treatment costs while the critical illness plan will come handy in case of critical illness, where the treatment costs are much higher.

Such policies provide the child enough funds to continue education even if he loses his parents.

Once you buy a policy, the term rates will remain the same throughout the tenure, so it makes sense to lock into lower rates now

The most important reason for planning exclusively for retirement is the change in the fabric of the family structure.

With COVID-19 restrictions easing out, vehicles are once again back on roads as usual. This might be the best time for you to re-evaluate your vehicle insurance needs.

Your health or life insurance document enumerates the terms and conditions of the policy contract. Strictly adhere to these to avoid any claim rejection

An annuity plan, designed to secure a guaranteed stream or source of income post-retirement, can help your parents with a financial cushion after they’ve retired.

Before one chooses the best insurance plan, it is important to understand the life insurance definition so that the best insurance can be chosen.

Diwali is considered very auspicious for new beginnings and ventures. This makes it the Perfect Occasion to start your journey towards a Financial Freedom.

The recent pandemic brought home the acute need for proper financial planning. This festive season is a good time as any to gift your loved one’s life-long security by gifting them an insurance plan.

Look for medical insurance with the shortest waiting period and minimum number of diseases under this period

If you are planning to take a home loan, this is a favourable time to take the plunge. But do remember to have a repayment plan in place to avoid any financial stress later.

Buying a thing on debt or on equated monthly installment (EMI) may appear affordable, but making a habit of doing so may create tremendous financial stress on you in future.

The capital gains tax provisions for NRIs are similar to those for the resident individuals except for the applicability of TDS provisions. Like resident investors, the taxability of capital gains also depends on the holding period and the type of investments sold.

The only con of guaranteed income plans is the overall return of the product is usually lower than its counterparts but that is mainly because of the insurance portion in-built into the plan

You can explore pay as you go model and work on deductibles, too Do you own a four-wheeler but find commuting via public transport on a daily basis more feasible than driving? Or are you someone who owns more than one vehicle but usually drives one of them more than the others? If yes, here are a few tips for you to save on your motor insurance premium.

Happy Dussehra 2021: An advice to remember especially when someone has just started out! Following a trusted expert or paying heed to market cues on future swings from a market leader, can help an investor to be watchful.

As one’s parents age, the hospital visits and ailments increase. In the backdrop of such a landscape, the best decision one can make for one's elderly parents and grandparents is to purchase a health insurance policy for them.

ITR Filing Tips for FY 2020-21 (AY 2021-2022): The deadline to file the income tax return for salaried or small business individuals has been further extended to 31st December 2021.

Not everyone has the time and skills to manage their financial portfolio optimally. For such customers, ULIP provides an effective way to participate in the market as well as an insurance cover to deal with uncertainties of life.

If an individual’s CIBIL score has been falling, they might have taken financial decisions that have dented their score. To fix that, he/she first needs to understand what has affected the score.

Section 80C includes an exhaustive list of investments on which you can claim tax deduction while filing for your taxes. Some of these are Employee Provident Fund, Public Provident Fund, life insurance and so on.

The Reserve Bank of India (RBI) today cautioned people against frauds being conducted in the name of KYC updation. In a statement, the RBI said it has been receiving complaints/reports about customers falling prey to frauds being perpetrated in the name of KYC updation.

The 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.

Senior Citizens above the age of 75 years, who only have pension and interest as a source of income, will be exempted from filing the income tax returns (ITR) for fiscal year 2021-22. The Central Board of Direct Taxes (CBDT) has now notified rules and declaration forms which senior citizens would have to file with the specified bank.

There have been and will continue to be several rule changes this month. These changes come in the form of regulatory policies across banking, financial and even automotive sectors that will affect the day-to-day lives of the average citizen. With that said, here are the 10 most important changes that citizens have to contend with, in the month of September 2021.

As equity shares of a company are considered as capital assets, selling such shares would either result in a capital gain or capital loss.

If handled carelessly, credit cards can adversely impact your financial health for a long time to time. These five common signs indicate you are using your credit card the wrong way.

MUMBAI: Life Insurance Corporation of India has said that its asset base has crossed Rs 38 lakh crore with total investments of Rs 36,76,170 crore and a life fund of Rs 34,36,686 crore as of March 2021.

As August comes to a close, the month of September brings new changes with it. From Aadhaar to the bank, to the price of LPG cooking gas, there are quite a few changes that will take effect as of next month. These new rules and implementations will be affecting your day-to-day life as well as changing the landscape of the economy somewhat.

Having a good credit score goes a long way. Experts say a good credit score is a gateway to a smooth financial life. That is the reason many individuals actively seek information to manage their creditworthiness.

This Independence Day, be well informed and choose to be free of financial worries by covering your risks with insurance.

Here's a five-point checklist to help you set your future goals and build a unique plan for your financial freedom and security.

Let's see 7 different types of health insurance plans and what they have to offer.

Try to improve your credit score even if you get a loan with a higher rate at the beginning so that the risk premium gradually gets lowered during the course of the loan

Pension plans are a combination of Insurance Plans with Annuity. Experts say the ideal way of investing in it is to start investing in the late 20s wherein the premium is relatively low comparing it with later years of age.

From budgeting missteps and impulse purchases to inadequate contingency planning and much more, nobody is immune to financial faux pas.

To provide relief to depositors in stressed banks like Punjab and Maharashtra Co-operative (PMC) Bank, Union Cabinet on Wednesday cleared the amendments in Deposit Insurance and Credit Guarantee Corporation Act, 1961, (DICGC Act). Depositors of banks under moratorium the will no longer have to wait for the Reserve Bank of India (RBI) to rescue the bank to access their funds.

Under the amendment, depositors of a bank under moratorium will no longer have to wait to access their money All commercial banks and even branches of foreign banks operating in India will come under the purview of this Act

It is important to understand whether one should apply for a home loan with a co-applicant or as the sole applicant.

In view of the exorbitant hospital and medical bills that are being accrued be it due to COVID treatment or any other medical reason, people have started not only opting for health insurance but also choosing the best health protection available.

Even though an emergency fund of at least 3 months' expenses is a must to deal with a crisis, it might not be possible for everyone to hold up such savings. Under such circumstances, a quick loan comes out to be the only option.

The 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.

Try to make as much part-prepayments as possible when the applicable home loan interest rates are low and your credit score is high

Even in a low interest rate scenario, life insurance products offer benefits that no other financial product does including life cover, additional riders, guaranteed returns, safety net, and tax benefits.

The procedures that require medical care and are completed within 24 hours are called daycare procedures.

The pandemic may have brought drastic changes to our daily lifestyle, however real estate investments are here to stay and will grow in popularity.

In case the minor children have not been appointed as nominees, the guardian can, on their behalf, produce proof such as death certificates

A health plan is your best help during medical emergencies. Ponder over these 10 points before you buy one

The government is likely to reduce the interest rates on small savings schemes from July 1 to keep in line with falling interest rates in the market

Many investment options are readily available in the financial market, but life insurance is the one if opted for at an early age, provides multiple benefits ranging from, providing protection to your family in your absence, planning your retirement, adds financial security, helps in saving tax.

Do you have enough savings to live a comfortable retired life? Can you afford a sabbatical in your professional life and pursue your passion? Can you afford to send your kids abroad for education? If you are afraid to answer these questions, it is time you re-evaluate your financial choices and think about building wealth.

Life insurance policies of the pure protection variety, known as term Insurance, are basic and most necessary form of life insurance cover.

According to a survey conducted by Policybazaar.com, over 90% of Indians believe that Health and Term insurance is important for their financial safety and mental wellbeing

If there are co-applicants in the home loan, they, too, should have a life insurance. The recent deaths due to covid-19 have shown that it's always better if all borrowers are covered

Income Tax relief has also been provided on any amount received by an employee from the employer or any well-wisher for treatment of Covid-19.

Last Date to Link PAN Card with Aadhaar Card: Your PAN Aadhaar linking needs to be completed within the due date else the PAN will become ‘inoperative’.

You can claim tax deductions against education loans under Section 80E of the Income Tax Act. However, there are a few things to keep in mind.

Like many other twenty-somethings in India, Beverly Coutinho kept postponing buying a life insurance policy, until a surge in COVID-19 cases and deaths made her confront her own mortality. "I saw people my own age dying, which prompted me to get life insurance immediately," says Coutinho, a 24-year-old senior executive at a public relations agency in Mumbai.

secured loan option allows borrowers to meet their financial requirements without the need to liquidate their assets to meet the sudden liquidity requirement. These options are credit risk-free for borrowers as they have the option to sell the pledged securities in the event of a payment default.

When buying a term insurance policy, you aim to secure the future of your wife and children in your absence. You want that the claim amount reaches them quickly and without any hassles. However, if there are any outstanding loans to any creditors or relatives or friends, the creditors would have a prior claim to the money before your beneficial nominees (spouse and children).

The income tax return filing website will not be available for taxpayers for at least six days, starting from Tuesday. Employee Provident Fund Organization (EPFO) earlier asked the subscribers to link their provident fund accounts to the Aadhaar card from June 1. From new income tax filing online portal to costlier flight tickets, here’s a list of changes that will come into effect this month

The income tax return filing website will not be available for taxpayers for at least six days, starting from June 1.

In terms of tenure, while many lenders offer long loan tenures of up to 30 years for repayment, try to choose a tenure not longer than 20 years.

When 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.

With many policyholders are among Covid-19 casualties, it's important to know the effect of death of an insured person on an active health insurance policy.

Unexpected Covid-19 deaths have devastated families across the country. Not just emotionally, Covid has destroyed families financially as well.

These insurance policies have another essential element of coverage that immunes a vehicle from theft. Vehicle theft is one of the most common crimes, especially in major cities; hence, it is all the more essential to have a vehicle insured.

If you have a long tenure home loan running in your name and are finding it difficult to repay your loans owing to less or no payouts due to the coronavirus pandemic, you can try one of the following methods

Prices of popular cryptocurrencies like Bitcoin, Etherium and DogeCoin have dropped massively in the last 24 hours.

Industry experts say with state election results already announced the government will now take a decision on the rates.

CHENNAI: Besides its debilitating health impact, Covid is draining the finances of its victims, particularly the uninsured, causing some to get into long-term debt.

Nurses Day 2021: Right from Florence Nightingale in the Crimean War to Fatu Kekula who help to treat Ebola patients in Liberia, nurses have been at the forefront of any healthcare crisis.

The most common ground for rejection is incorrect or false information in the application/claim form

Unlike the Baby Boomers and Gen X, millennial parents and especially millennial mothers will have to make smarter financial decisions to secure a future for themselves as well as their children.

If your policy covers maternity benefits, costs incurred during hospitalisation as a result of maternity will be covered up to the sum insured limit. In some instances, the cover is also available for any medical complications of the newborn child.

Before you start repaying loans, make sure you have an adequate investible surplus for meeting your long-term goals.

One needs to remain alert while doing any kind of high value cash transaction because the Income Tax Department has become highly vigilant about the cash transactions

Keeping 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.

All hospitals, nursing units, dispensaries and COVID care centres will be able to accept cash over Rs 2 lakh from the patient's family. The exemption will be applicable on all transactions between April 1 and May 31

The reforms in the second wave are expected to increase not only the country's insurance penetration rate but also lead to a conscious shift in the insurance product mix.

A structured retirement planning starting at an early age will help unleash the power of compounding for a longer period of time, thus helping accumulate a bigger corpus.

Evaluating your expenses can take you closer to achieving your life goals It is important to have a financial plan. If you do not have one, then put a halt, make the plan and restart your financial activities. For designing one such plan that focuses on achieving your financial life goals

Life Insurance Corp. of India (LIC) booked a record ₹37,000 crore profit from share sales in 2020-21, the highest in its 65-year history, as the stock market reached record highs. The latest profit is a 44.4% jump against its ₹25,625 crore profit from stock sales in fiscal 2020.

The report also looks into the strongest insurance brands. The list is led by Italy's Poste Italiane, followed by Spain's Mapfre, and India's LIC

It is important for women to focus on planning their finances for meeting their long-term goals and aspirations.

With this, not only will you be able to get the best interest rate but can also keep the overall interest cost low till the end of the home loan tenure.

In 2020-21, LIC has achieved its highest-ever first year premium income of Rs 56,406 crore under individual assurance business with a 10.11% growth over last year.

A comprehensive car insurance plan not only covers the mandatory third-party insurance for your vehicle but also provides coverage for any damages to your own vehicle as well!

This financial burden can be supported by a special financial protection plan called ‘Critical Illness Plan’. You should purchase a critical illness plan along with a health insurance plan.

Here is a list of some important questions to help you avoid making a mistake while you plan to take a home loan.

Like all other festivals these nine incarnations also teach us many life lessons to deal with different facets of life including investments.Chaitra Navratri or Vasanta Navratri marks the beginning of the new year of Vikram Samvat of Hindu calendar. Navratri is celebrated to worship nine manifestations of Goddess Durga that represent different characteristics of the Adi Shakti.

Planning for your child’s future is no longer a decision you can procrastinate. It needs your urgent attention, especially if you are a new couple or new parents.

Only the bare minimum changes necessitated due to amendments in the Income-tax Act, 1961 have been incorporated in the forms, CBDT said in the notification for the new ITR forms

A term insurance cover should be in place at least till retirement, or till the time one has dependents or liabilities like loans

Both annuity plans and term insurance plans can help you to plan your retirement as there are different variants available in the market

Finance Minister Nirmala Sitharaman on Thursday said salary income earned by non-resident Indians in Gulf countries would continue to be exempt from tax in India.

People of Indian origin and the Indian diaspora having Overseas Citizens of India (OCI) cards are now not required to carry their old, expired passports for travel to India, as required earlier, according to a government notification that has been welcomed by members of the community.

April 1 will mark the beginning of a new financial year and will bring a slew of income tax changes. Some of the changes were announced by the Union Finance Minister Nirmala Sitharaman while presenting the Union Budget 2021 in February. Here is a list of changes which will be introduced from the coming financial year.

Countless people are confronting new financial realities a year after the first of the Covid-19 lockdown announcements. The past year may not have been equally difficult for all of us, but it has surely forced each one of us to rethink our financial priorities. With a resurgence of cases in many regions and vaccinations still in the early phases, the Covid-19 pandemic is far from over.

“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.

Income Tax Changes: March 31 is an important date for income taxpayers in India as a number of changes are going to kick in from April 1.

If both your parents are below 60, you can claim a deduction on premiums up to Rs 25,000 on health insurance

With the financial year coming to an end on March 31, many taxpayers would now be looking at ways to save taxes. In the old taxation regime, there is an option to enjoy tax exemption, which is not there for taxpayers in the new taxation regime.With the financial year coming to an end on March 31, many taxpayers would now be looking at ways to save taxes.

Finance 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.

NEW 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.

While easy access to loans help individuals realize their dream, buying a home is also encouraged by way of tax benefits. Understanding these benefits can be useful in our tax planning and must be included as one of the important factors to consider.

Accordingly, LIC said its 113 divisional offices, 2,048 branches, 1,526 satellite offices and 74 customer zones will receive maturity claims from policyholders irrespective of the servicing branch of the policy.

The purpose of reporting these transactions is to enable the tax department to provide this information pre-filled in the ITR forms to the taxpayers as announced in the Budget speech of 2021 by the finance minister. There is no ceiling prescribed for reporting such transactions

The Life Insurance Corporation (LIC) of India has launched Bachat Plus, a non-linked, participating, individual life assurance savings plan.

As many as six life insurance companies are set to increase their term plan premiums by 10-15 per cent from April, but Life Insurance Corporation (LIC), the largest life insurer in the country, will not raise rates for such schemes.

Due to the declaration of the lockdown and suspension of international flights owing to the outbreak of COVID-19, many NRIs had to prolong their stay in India.

Reduction in the recent home loan interest rates will benefit new borrowers as the rate cuts will only be applicable for them and not to the existing borrowers.

Several banks offer women savings accounts and credit cards tailored to their needs besides better terms on loans

Revisit your financial plan at intervals and make necessary adjustments. This will ensure you are not financially stressed but at the same time able to achieve your life goal

One should always be a pro in managing finances by making a note of the assets and liabilities and defining personal goals. it is important to prepare a budget for the coming year to be in a better position to understand where the money is being spent and where one will undertake savings.

It is important to choose one’s health cover wisely, else it can drain one's money without providing any adequate protection.

Financial year and tax planning Income tax is calculated on the income you earned during a financial year. As the financial year 2020-21 approaches, this could be the right time for you to plan and find out how much tax you can save. Starting this year, you can opt for the old tax regime and avail tax benefits, or opt for the new regime to forgo tax benefits but enjoy lower tax rates.

With India’s average age of less than 25 years, retirement might seem far away. However, with a rise in average standard and cost of living, medical inflation, etc. retirement is a phase that needs careful planning and precision so as to ensure that there is no compromise on the overall post-retirement lifestyle and expenses.

The need to buy health insurance coverage for self and family is to avoid dipping into one's savings to meet the cost of hospitalization.

After a motor insurance policy expires, the first and foremost thing the policyholder should do is to inform the insurance company. Experts say informing the insurer should be done on a priority basis, as soon as the policyholder gets an update about the motor insurance policy's expiry.

A comprehensive motor insurance policy covers you for both third-party damages and own damages

The 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.

MUMBAI: 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.

Indian income tax rules provide a lot of opportunities to reduce your taxable income. However, most taxpayers know and take advantage of ₹ 1.5 lakh deduction available under Section 80C.

EXCLUSIVE: 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

NEW DELHI : Up to 10% of the LIC IPO issue size would be reserved for policyholders, Minister of State for Finance Anurag Thakur said on Tuesday. The government will remain the majority shareholder and will continue to retain management control safeguarding the interest of policyholders, he said.

Union Budget 2021-22: The Finance Minister presented the first paperless Union Budget 2021-22 in the Parliament yesterday. While no structural changes have been proposed to the personal tax rates, it introduced some relief measures and proposals to facilitate ease of compliance for the taxpayers explained hereunder:

It must be noted that the senior citizens who are above 75 years age, are not exempted from paying tax but only from filing income tax return (ITR) if they are eligible

Union finance minister Nirmala Sitharaman presented the Union Budget 2021 in Parliament on Monday. The finance minister provided a major boost to healthcare and infrastructure in Union Budget 2021. However, there was no change in Income Tax slabs this year.

The Union Budget 2021, presented by Finance Minister Nirmala Sitharaman, did not make a change to tax slabs in Income Tax Returns. However, Sitharaman announced relief for senior citizens above the age of 75, relief for NRIs measures that will make filing taxes easier.

The 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.

Finance Minister Nirmala Sitharaman, while presenting the Budget 2021, has proposed taxability of interest on various provident funds where income is exempt.

This 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

Having a good credit score goes a long way. According to experts, almost 6 out of 10 millennials are rejected due to low credit score when applying for credit cards, mortgages, car loans, and other financial products.

Generally salaried individuals need to submit their investment proof by December end, so that tax deducted at source (TDS) may be adjusted – in case there are differences in proposed investments and actual investments – against the salaries of January, February and March.

Several factors affect the need for an insurance plan at different stages of life. Here are some significant reasons why one should review their health or life insurance plan in 2021

The ongoing COVID-19 pandemic has impacted almost every financial instrument in a significant manner, especially those soon approaching retirement as they are not able to take a cautious call on where to keep the accumulated corpus invested.

Once you have identified investment instruments based on your income, age, risk-taking abilities, and time in hand, you should consider the following factors before you actually invest in the preferred options.

The beginning of 2021 is also the time when you should plan to overcome any financial setbacks that were brought about by the Covid-19 pandemic in 2020.

Emergency loans are the next safest bet after friends and families when you are in dire need of cash. They are better than payday loans and title loans as they are more economical and easier to pay off.

The tax department in a tweet said 5.95 crore ITRs for Assessment Year 2020-21 were filed till January 10, 2021, as compared to 5.67 crore ITRs filed for the previous Assessment Year by September 10, 2019.

Everyone has limited resources to spend, and to reorient oneself, there is a need to change certain consumption habits. So curtail unnecessary expenses, invest in your health and save money for the essentials

To ensure that assesses file their income tax return (ITR) on time, the provision of late fee up to Rs 10,000 was introduced in the Union Budget 2017.

If you can prove that your income can support EMI payments through an increase in the salary or through additional sources of remuneration, a lender can entertain your loan requests even if you depict a low credit score.

This is the time of the year when a majority of us make some resolutions as regards our physical fitness but only a few make resolutions for remaining financially fit.

Taking care of one's finances and creating a solid financial plan have become more important now, particularly in view of the Covid-19 like situations, which can turn our lives topsy-turvy.

This 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.

Taxation rules for debt and equity investments are different. So look at the tax implications on each instrument before investing

Investing in long-term instruments during your earning years helps you save more and get the benefit of compounding

Starting with term plans at a young age to pension plan on retirement and a variety of health covers all through life, there are insurance plans made for every life situation

Tax saving is crucial, and it is an important parameter, but it is not the only parameter for considering any investment avenue or product. Investment gives financial freedom.

Helping children learn about financial planning can be a blessing to them as they grow up. Here are a few tips for parents to teach children about financial planning.

Filing your income tax return for FY 2019-20? To make the return filing process simpler, here are a few things to keep in mind.

While it is imperative to check what all events are covered under the policy, choosing the right sum insurance is equally important.

LIC’s profits primarily come from sale of shares in the insurer’s large, non-linked portfolio, which includes traditional life insurance policies

As Indians wake up to the fact that long-term wealth creation and protection is critical, many are urgently re-evaluating their long-term portfolios.

Laden with high levels of non-performing assets (NPAs) or bad loans in their books, most banks have made the Indian banking sector a notoriously dangerous one.

Following the cancellation of its licence, The Karad Janata Sahakari Bank has been prohibited from conducting the business of 'banking' which includes acceptance of deposits and repayment of deposits with immediate effect

If you do not require the entire PPF account balance in one go, it’s best to extend it

Evaluate your earnings and compare it with your expenses. Curtail the unnecessary spending and save the money to celebrate bigger and more important milestones.

The MPC’s decision to continue with the accommodative stance, despite the current inflationary pressures, clearly demonstrates the RBI’s prioritisation of economic growth over inflation.

The structure protection plan covers the structure of your house from any kinds of dangers and risks. In addition to this, the policy also protects any permanent fixtures within the house.

Filing of ITR is necessary for carrying forward any losses sustained during the year for set-off in subsequent years

Annuity products from life insurers cover an individual for life, remove reinvestment risks and are not vulnerable to market volatility

The value of equity holdings of Life Insurance Corporation (LIC) has climbed to record levels. At the end of the September quarter, the insurance behemoth’s holding in companies from the top 200 universe stood at $77 billion. Since then, the market has climbed another 12 per cent.

The ITR forms notified carry some significant changes. Taxpayers should bear in mind these changes while filing their ITR for AY 2020-21.

If you get your parents enrolled under an individual health cover before they turn 60, there will be no burden of co-payment for a lifetime

The failures of Indian banks in the recent times has taught us simple reasons as to why, perhaps, it is good to keep only Rs 5 lakh in a bank.

Being wise with money shouldn’t be seen as a punishment but rather as a guilt-free way to make the most of your hard-earned money.

The RBI also superseded the LVB board and appointed TN Manoharan, former non-executive chairman of Canara Bank, as its administrator for 30 days.

The taxability of the gift is determined on the basis of the aggregate value of gift received during the year and not on the basis of individual gift.

At 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

Critical illness insurance policies provide financial support to the insured if they are diagnosed with cancer.

Ministry of Road Trasport & Highways (MoRTH) on Saturday said that a valid FASTag is mandatory while getting a new third party insurance through an amendment in Form 51 (Certificate of Insurance), wherein the details of FASTag ID shall be captured and this will be applicable from April 1.

An emergency corpus can be built over a period of time, allocating a portion of the income in a disciplined manner. In case you use up a part of the corpus for any sudden requirement, you need to replenish the same as quickly as possible for future use.

For professionals and others, who don't get regular salary, Income Tax Returns (ITRs) are used as income proof for various purposes.

Legal 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

Sort 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.

While 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

Experts say the govt has given a suitable extension for annual compliance under GST laws as well as income tax laws due to disruptions caused by coronavirus.

The deadline for filing returns by individual taxpayers for FY 2019-20 has been extended by a month till December 31, the finance ministry said on Saturday.

Are 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.

Given the correlation between wealth and well-being, nearly 50 per cent of respondents would like to advise their younger selves to start investing as early as possible in life.

Those who haven’t already planned for retirement, say that they expect to start planning for it by the age of 51, reveals a survey by PGIM India Mutual Fund.

Barely 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.

MR 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.

Employers have ensured to extend help to employees to make the work environment conducive – reimbursement of certain expenses, grant of additional allowances or benefits, extended medical coverages, etc.

The main objective of a life insurance policy is to provide financial protection to an individual and his/her family, in the face of uncertainties.

BENGALURU: Annual premium on health covers have risen by 40-70% for policyholders after insurance companies hiked rates following a regulatory diktat to widen coverage and standardise conditions with regard to exclusions.

LIC’s Jeevan Akshay-VII, Life Insurance Corporation of India: This is a very popular plan among pensioners and national pension system subscribers. LIC has set certain conditions for investment in this pension-relieving policy.

The coverage amount or the sum assured is paid to the nominee in case of death of the insured during the policy tenure.

Your 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.

The Draft National Policy for Senior Citizens has rightly placed emphasis on promoting the existing pension programmes

Mumbai: Life Insurance Corporation of India, India's largest life insurer, continues to give outstanding performance even in times of business distress. LIC's resilient and quick response in meeting the expectations of the market and the people of the nation has brought it exemplary results in the current financial year.

Borrowers 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.

There is a need for a disciplined approach to ensure that balance is created between monthly expenses and savings with the intention to meet long-term financial goals as well as creating emergency funds.

It has been clarified that a payment gateway would not be required to deduct TDS provided the e-commerce operator has already deducted the tax on the same transaction.

The term insurance cover should be calculated after factoring in existing savings and investments

Even if a poor student wants to take assistance from his/her relative(s), the amount of tax will be added to the financial burden if the amount exceeds Rs 7 lakh.

Whether it is rent waivers or vacant property due to lockdown, the government needs to consider the tax impact on rental income

All of the banks in the country offer an interest rate for daily balances maintained in the savings account. Some banks like State Bank of India offer an interest rate of just 3 per cent, while banks like IDFC First Bank offer an interest rate of as much as 7 per cent. We all know that the interest on bank fixed deposits is taxable

We all know how much you love LIC and our articles on LIC policies. Today we are telling you about such a policy that you will have to give only 1 instalment and you will get income every month after retirement. The policy is called LIC Jeevan shanti. Let us tell you about this policy in detail.