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Avoid These Common Health Insurance Mistakes For Effective Coverage & Maximum Financial Security

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.

Health Insurance Policy: Everything You Should Know

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

Why Cancer Insurance Is A Must

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.

10 Problems You Could Face Without Health Insurance

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.

Unclaimed Insurance Money With LIC Is Higher Than 4 Indian Ministry Budgets & 2 Gaganyaan Missions!

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

Higher propensity to purchase insurance in tier-2 and 3 cities after Covid: Survey

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.

Gift your mother a health insurance policy this Mother's Day

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

LIC asset base bigger than Pakistan GDP

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

Income tax return filing, other tasks you need to complete by December 31

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

Investments or specific transactions to be made before March 31 to save taxes

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.

How an insurance policy can help you plan your retirement?

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.

Beyond Section 80C: 10 ways to Save Taxes

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.

LIC’s Jeevan Akshay Plan: Get 24 thousand rupees pension every month by paying a premium in this policy of LIC, will get lifetime benefits

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.

LIC shows exemplary performance during H1 FY21 amid COVID-19 pandemic

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.

Is Interest Earned On Savings Bank Account Taxable?

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

LIC Best Policy : Make only 1 instalment and Get 7000 per month lifetime

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.

Company health insurance might not be sufficient for you and your family—here’s why

Many corporate health plans have the room-rent capping and the co-payment clauses, both of which can cause you to shell out money from your bank account for medical care facilities. Read on to know more.

Life insurance to secure your child’s future: All you need to know

For most young couples, a big milestone in life is starting a family. If you too fall into this category, you’ll agree that with the arrival of a child, there are many wonderful things that new parents have to look forward to. From seeing the child take first steps and listening to the child’s first words to preparing them for their first day at school.

3 Important Financial Changes For NRIs Returning To India

Amid the worldwide COVID-19 crisis, many non-resident Indians (NRIs) lost their jobs. Especially those engaged in the service sectors like hospitality, travel or other client-facing businesses have seen pay cuts and layoffs in India as well. News reports suggest that many of these non-resident Indians (NRIs) had decided to move to India for good.

IRDA to extend renewal payment date for motor & health policies till June 1st week

IRDAI forthcoming decision will also include continuation of cover, Standard Fire and Special Perils Policy(commonly known as property policy)- by the general insurers to the ``unoccupied properties’’.for more than one month

Covid-19 Information to Policyholders

Dear Policyholders, we are committed to your safety and wellbeing. The whole nation is fighting Corona Virus COVID-19. Under these challenging circumstances, team LIC assures you that we are doing our best to ensure that critical policy services remain unaffected and you get your due payments on time.

‘Term insurance premiums may rise next fiscal’

The term insurance market in general has seen the premiums going down in the past few years due to competition

Urban India continues to feel financially insecure: Survey

Even as awareness for insurance has increased in the country over the last one year, urban India continues to feel financially insecure, according to a survey. Max Life Insurance Company (Max Life) on Wednesday unveiled the findings of the second edition of its flagship survey 'Max Life India Protection Quotient' 2.0 in association with KANTAR.

Yield on world's benchmark bond falls below 1% for first time

The 10-year US Treasury yield, which is taken as the notional "risk-free" benchmark rate for financial transactions across the world, dropped below 1% for the first time on Tuesday. This came after Federal Reserve slashed interest rate by 50 bps in an emergency move to limit the coronavirus impact. The benchmark 10-year Indian bond yield dropped 8 bps to 6.26%.

How To Apply For A Duplicate PAN Card?

We all have experienced the usage and importance of PAN (Permanent Account Number) in our practical lives. PAN is an essential document in filing for income tax returns and to undertake any kind of financial transactions. Every PAN card issued and number allotted to individuals is valid for a lifetime.

IRDAI Revises Clause in Health Insurance Policies: How You Will Be Impacted

According to the new change, any disease that a policyholder gets diagnosed with within the first three months of taking a health insurance policy will no longer be considered as a pre-existing disease.

हाई सैलरी वाले लोगों का प्रविडेंट फंड भी आएगा टैक्स के दायरे में

क्रेंद सरकार ने बजट में एक बड़ी घोषणा की है। इसका असर हाई सैलरी वाले कर्मचारियों पर पड़ने वाला है। वित्त मंत्री निर्मला सीतारमण के प्रस्ताव के मुताबिक, तीन निवेश स्कीमें EPF, नैशनल पेंशन स्कीम (NPS) तथा रिटायरमेंट फंड अब टैक्स के दायरे में आ सकते हैं, क्योंकि इसमें निवेश की 7.5 लाख रुपये की अधिकतम सीमा तय कर दी गई है।

LIC's new business premium crosses Rs 1.5 lakh cr for first time in history, reports 17.48% growth till January 2020

Life Insurance Corporation of India (LIC), India’s largest life insurer, continues to better its performance, thereby winning people’s trust by crossing Rs 1.5 lakh crore new business premium first time in its history and maintaining dominant leadership in this sector.

Check if your retirement corpus is enough to fulfil your life goals

Today, many of you might be looking at retirement from a different perspective. Gone are the days when Indians preferred sitting back at home to relax after retirement. As a new-age retiree, you might aim to achieve to fulfil your life goals such as traveling, pursuing new sports activities, and so on.

Life Insurance In India - Can NRIs Buy It?

As an NRI, a bunch of questions about life insurance policy must be bouncing in your head. Your brain will appreciate quick answers, so, here we go:

LIC mops up over Rs 1,380 crore in a day

Earlier, the Irdai had asked insurers to withdraw products by November 30 and to come up with the revised products from December 1.

LIC market share in policies at 78% for Oct 19

LIC’s market share stood at 78 per cent in number of policies for the month of October 2019, said a senior official.

Financial tips to increase your take-home salary

Catering to the needs of millennial life requires a significant amount of disposable income. With corporate CTCs however, what you get is not always what you take home. We look at some tax-saving provisions that will help augment your take-home pay.

How does car insurance work in an accident

Car insurance is a highly useful product that will protect your vehicle against damages due to an accident and also mitigate the various costs you will incur like treating your personal injuries and compensating the third party affected. There are a large number of car insurance packages to choose from.

5 Pointers To Check Before You Opt For A Travel Insurance

If you are planning to travel outside India anytime in the near future, it is advisable to get a proper travel insurance cover to protect yourself from any unfortunate incidents that could take place on your holiday or business trip.

Negative Interest Rates

Imagine a bank that pays negative interest. In this upside-down world, savers are penalized and borrowers get paid to borrow money. Crazy as it sounds, the 2008 financial crisis created a lingering economic slump that drove the European Central Bank to experiment by cutting benchmark lending rates below zero in 2014. Then Japan followed.

Mental Illness to Finally Be Covered Under Health Insurance, HIV/AIDS Still Excluded

People with HIV/AIDS are at the mercy of insurance companies, who can take a decision to allow or deny their medical coverage.

3 reasons to get life insurance before your first child is born

There's a lot to take care of in the lead-up to having a baby. If you don't have a life insurance policy but plan to have a baby in the next year or so, it's a good time to consider getting one.

3 major risks in retirement

Retirement planning in India has still not picked up as people are being more emotional towards their family and try to fulfil all their wants even if it means sacrificing their retirement.

4 reasons to buy life insurance, even if you already have it through work

About 60% of non-government workers in the United States have access to life insurance through work. It's a valuable benefit that employers often offer at no cost to employees. Plus, coverage is guaranteed so you don't have to submit to a medical exam.

5 New Changes Made To Health Insurance Policies

Health insurance is a necessity in the current times of expensive medical treatments. To make health insurance policies more standardized and simple for individuals, the IRDAI (Insurance Regulatory And Development Authority of India) had recently announced some changes.

What Is Assignment In Life Insurance? Know All

Selling of life insurance policies is not possible as with other assets and herein you need to surrender the policy that entails a costs, however if you wish to liquidate your investment in it,

Plan your retirement in seven easy steps

Proper retirement planning ensures that you do not compromise on your current lifestyle post retirement.

7 things you should always tell your financial planner

Money may be a conversational taboo in your family or social circles. When you hire a financial planner, however, you'll want to leave those inhibitions at the door. Just like your spouse, you should go into any meeting or conversation with a financial adviser or financial planner with complete openness and honesty.

Which documents are required to file income tax returns

Unlike you might imagine, filing ITR is a straightforward and user friendly process. When you set out to file your ITR, here are the documents you need to keep ready by your side.

5 Changes In Life Insurance Set To Benefit You: Know The New Rules By Roshni Agarwal| Published: Wednesday, July 17, 2019, 14:24 [IST]

After a hiatus of some nine long years, the IRDAI has proposed some changes for its non-linked category of products and ULIPs. Non-linked insurance products are the traditional life insurance plans including endowment and money back plans.

Factors that may hike your insurance premium

When it comes to life and health insurance, your premium amount will differ with your age, family history, pre-existing diseases and lifestyle choices among other reasons.

LIC of India achieves sterling financial results in 2018-19

Life Insurance Corporation of India (LIC of India), India's largest life insurer, has announced its audited figures for the year ended March 2019.

LIC earns Rs23,600 cr of profit from its equity investment in 2018-19,total assets exceed Rs 30 trillion

As per the provisional accounts prepared, the corporations’s total premium income- new premium and renewal premium- was Rs3,37.200crore showing a growth of 6.08 per cent while the total benefits paid amounted to Rs2,50.900 crore growing by as much as 26.62 percent.The corporation had mobilised a total new premium of Rs41,086.31crore in 2018-19

What Is 'Accidental Death' In The Context Of Insurance Law?

To sustain a claim under the accident benefit cover, it must be established that the assured has sustained a bodily injury which resulted solely and directly from the accident. There must exist a proximate causal relationship between the accident and the bodily injury. Moreover, the accident must be caused by outward violent and visible means

Why it’s important for women to buy life insurance?

Women have been raised to not ‘worry’ about finances, seeing the men of the house making most money-related decisions.

Four stages when you need to review tax-saving plans

Identify your existing investments and expenses before putting more money to save taxes Have different tax planning strategies when you are single, married, nearing retirement or are retired

Govt to launch One-Time Amnesty Scheme for GST Defaulters

In order to give an opportunity to the GST defaulters, the GST Council is likely to consider a one-time amnesty scheme to facilitate an exit for ‘nil’ filers and non-filers.

New Income Tax Rules for 2018-19: Know Tax Rebates & Standard Deductions Before Filing IT Returns

Mumbai, November 28: For the 2018-19 financial year, few changes were announced in the Union Budget for taxpayers. Individuals, earning between Rs 2.5 lacs to 5 lacs will have to pay 0-5 percent tax for different age groups while 20 percent tax will be applicable for individuals having an income of Rs 5 lacs to 10 lacs.

5 Tax Rules NRIs Should Know To Plan Investments Efficiently

Indians make up for one of the largest number of migrants in affluent countries. A recent report from the World Bank also showed that India was the highest receiver of foreign remittances in the world. It was $69 billion as of April 2018. This goes to show that though many Indians move to other countries in search of jobs, they have been investing in their home country.

Paytm partners with LIC India for seamless online premium payments

Paytm has announced a strategic partnership with the country’s largest insurance firm – Life Insurance Corporation of India (LIC) to allow users make LIC insurance premium payments seamlessly on the platform in under a minute.

FIR enough to award compensation to accident victim or the family, says Supreme Court

An FIR registered by police about a road accident is sufficient to award compensation to the victim or the family even if no formal claim petition is filed, the Supreme Court ruled last week, in a move that could significantly benefit survivors or the families of the victims.

Financial planning key for better retirement life

Financial planning key for better retirement life

Is there a right age to buy life insurance?

No one who comes of age and lands a job can escape the inevitable – that is an insurance sales agent who comes knocking. Looking back, I am ashamed to admit that many of my not-so-proud moments came from evading unplanned encounters with relatives and acquaintances who decided to try their hand at selling life insurance.

5 key questions to ask about your life insurance

Life expectancy figures may spark concerns for future retirees

Insurance Claims: LIC Tops in Individual Claims while Private Insurers Settled More Group

State-run Life Insurance Corporation of India (LIC) has once again, outnumbered private insurers in terms of the number of claims settled for individual customers.

Sale of LIC’s cancer cover policy on the rise

Life Insurance Corporation (LIC) of India’s cancer cover policy is witnessing a quantum jump in sale of health insurance. The company has sold more than 1.25 Lakh cancer cover policies so far as more than 70% of cancer affected Indians do not have any financial provision to face the rising cost of treatment which can be a few months to few years

Will you run out of money during retirement?

Consider relooking at your dreams and financial goals from time to time

No pollution papers? Can’t claim insurance

Insurance claims will not be paid for any accident if the PUC certificate is found to be invalid on the day of the accident.

Retirees in drawdown risk running out of money

Thousands of retirees are withdrawing too much money from their pension during periods of stock market volatility, leaving them with a potential savings shortfall later in life, a report has warned.

Retirement Around the Corner: 3 Steps to Help You Prepare

Preparing to retire whether close or far, becomes manageable when you take these things into consideration.

Getting your nomination right for a life insurance policy

If you nominated someone, then this individual known as a nominee, acted as a trustee but had no ownership over the claim amount. It did not automatically indicate that s/he would receive the death claim.

Why life insurance matters for new homeowners

If you buy a home and you have no life insurance, there may be a financial risk. It may not be immediately evident, but it should be acknowledged and addressed.

4 Common Retirement Planning Mistakes And How To Avoid Them

All of those can affect a person’s ability to, first, devise a consistent plan for their retirement goals, and secondly, accumulate the necessary capital to provide ample retirement income. hieve them. Meanwhile, costly mistakes can be made that will have implications down the road.

GST: E-Way Bill Mandatory for Inter-State Supplies from Today

From April 1st 2018 onwards, transporters and businesses have to be caution to carry Electronic or E-way bill for the movements of Goods. The businesses that carry goods having a worth more than 50000 should have to keep E-way bill for inter-state movements of goods.

Making Life Easy With Life Insurance in India

Life is short and we have so many responsibilities to fulfill in this short life. No matter how much we try, in order to win something we have to lose something, this is the philosophy of life. But, what will you achieve if there will be no life? An insurance policy is the best way to stay alive even after death for your loved ones.

LIC exceeds target in individual segment, piles up Rs 5 trn of assets in FY 2017-18

We have exceeded current fiscal target of Rs 38,000 crore by achieving 12-15 per cent growth in the premium income in the individual segment. We will have a premium income of around Rs 42-43,000 in this segment by the end of the current fiscal,

Health Insurance Why do you need it?

On the surface, the modern-day woman appears more powerful than ever before – strong, career-orientated and independent. Yet, when it comes to their financial situation, it appears they are increasingly exposed to difficulties.

FINANCIAL CHALLENGES FACED BY INDIAN WOMEN & HOW TO OVERCOME THEM

Money has delighted us, but also confounded us for quite a while now. For most part of our life, we are either thinking, earning or spending it. But why have men been traditionally better at handling finances, is a question worth looking into!

Millennials are not adequately saving for retirement, study finds

According to the U.S. Census, millennials accounted for more than 25 percent of the population in 2015, yet this significant segment of the workforce might not be prepared for retirement.

Balancing financial plans for Retirement, Child’s Education

Retirement and Child education planning are two important aspects of financial planning for every individual. It is essential to understand that both hold their own importance in your financial portfolio at different life stages.

How To Select Health Insurance For Your Spouse

There are many reasons that can easily tell the importance of having a private health insurance for young couples

Cabinet approves New Bill to ban Unregulated Deposit Schemes and Chit Funds (Amendment) Bill, 2018

In a major policy initiative to protect the savings of the investors, the Union Cabinet chaired by the Prime Minister Narendra Modi has given its approval to introduce the following bills in the Parliament:- (a) Banning of Unregulated Deposit Schemes Bill, 2018 in parliament & (b) Chit Funds (Amendment) Bill, 2018

Hyderabad: No doctor's sign on bill, no insurance

Hyderabad: Public sector insurance companies have stated that they will only reimburse bills if the laboratory reports are countersigned by a registered medical practitioner.

Can Health Insurance prepare us for Health Care Inflation in India?

Inflation is invariable in a growing economy like India. You can see this is in all fields. Health costs have spiralled a lot since the last decade. Coupled with the fact that people are falling sick more often, it becomes imperative to have adequate health insurance cover in place.

Saving for retirement: How do I know if I am on track?

Saving for retirement, for most people, is their largest financial challenge in life. While many people understand the importance of building up a retirement nest egg, and contribute a portion of their monthly salaries towards this goal – they do not always know if they will end up with enough money in retirement.

Bitcoin 'Biggest Bubble in Human History', Says Man Who Predicted 2008 Global Recession

"Now bitcoin crashing below 8000, headed towards 7000. Down 60% from the peak, 40% in a month and over 10% today. The Mother of All Bubbles and Biggest Bubble in Human History Comes Down Crashing," he wrote on the micro-blogging site.

Is term plan a life insurance?

Ever wondered, why there is so much fuss about term plans? After all, isn’t term plan just another life insurance? Is there any difference between a life insurance and term insurance? For many of us, the relation might sound so obvious that we may never have bothered with the difference.

Income Tax Department Sends Notices To 500K HNIs Involved In Bitcoin Trading

The Income Tax department of India has issued notices to 400K-500K HNIs indulged in Bitcoin trading under the annexure to summon under Section 131 of the Income Tax Act. The IT department issued these notices to understand the sources of their income in order to link the same with their gains in Bitcoin trading.

When Should You Opt For Loan Against Life Insurance?

Traditionally, life insurance policies were developed to financially protect the insured from death. The beneficiary of the insured would be offered a death benefit in the face of such an eventuality. However, in the latter part of the 20th century, life insurance products have evolved to take on a new purpose.

When is the right time to get health insurance?

Having an active health insurance policy will help an insured member get adequate and timely healthcare treatments and services in India. Health insurance covers the hospitalisation expenses incurred by an insured member during the policy period.

Tax deduction for individuals

Different amount of tax exemptions are allowed under different sections. So, below we have explained the exemptions allowed under these sections to give more clarity on these deductions.

In 2016, Only 1 In 4 Indians Had Planned For Retirement: Report

By 2031, the population of people more than 65 years old is expected to grow the fastest (75%) among all age groups, yet only 23% were saving or planning to save for retirement in 2016.

5 tips to make sure your insurance claim goes through

We often have the perception that insurance quotes are declined for ‘no reason’. However, an insurance policy is a contract. The insurer agrees to cover you according to how much risk they think they take on in doing so, and set your premium accordingly, says Bertus Visser, chief executive of distribution at PSG Insure.