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

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

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.

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. 

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.

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

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.

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.

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

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.

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

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

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.

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.

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.

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.

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

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

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.

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

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.

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

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.

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

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

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.

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.

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

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

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

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.

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).

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

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 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

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.

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

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

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

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.

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

These measures will make debit, credit cards more secure and curb their misuse Let's take a look at RBI's new guidelines for credit, debit cards with effect from today

Motor vehicle rules, income tax, health insurance, credit and debit card rules are changing from today Let us know what is going to change from October 1

Starting from October 1, your debit and credit cards will be more secure All new debits and credit cards, including those which are reissued, can only be used for domestic transactions at ATMs and point of sale (PoS) terminals, said RBI

Trend in US dollar may continue to be key price determining factor for gold and silver, say analysts Gold and silver prices have declined sharply in Indian markets over the past six weeks

Launched in 2017, this LIC pension scheme for senior citizens will attract a fixed interest rate for FY 2020-21 The scheme can be purchased offline as well as online from LIC website

The financial status of 277 urban cooperative banks is weak.105 cooperative banks are unable to meet the minimum regulatory capital requirement, Sitharaman said in Lok Sabha

State Bank of India (SBI) has slashed interest rates on fixed deposits The new SBI fixed deposit (FD) interest rates is effective from September 10

The development could lead to higher bonuses for policyholders and a better valuation for its upcoming initial public offering

The alleged fraud was exposed when a large number of savers decided to withdraw their money amid covid-induced financial crisis

During the end of FY 2019-20, a number of individuals holding the status of RNOR or NR were stranded in India due to the COVID19 pandemic Indian Government relaxed residential provisions for FY20

Buying interest may emerge in gold at lower levels, say analysts Many analysts still maintain a bullish view on gold amid uncertain global economic recovery

The new found interest in pure protection products has improved sales in LIC’s term products

Analysts say that new of Russia approving world's first covid vaccine triggered profit-taking in gold and silver, Silver rates crashed ₹14,000 per kg in just two days

Concessions are limited to late fee only, LIC said The two-month campaign will end on 9th October

Some of the taxpayers who have reported capital gains are getting scrutiny notices from the tax department asking for more details regarding these transactions.

If an immediate family member is made the nominee, then the proceeds will go to the intended person

Insurer can send the completed proposal form to the customer's registered e-mail ID or mobile number in the form of an e-mail or a message with a link The customer can then give his consent by clicking the confirmation link or by validating the OTP shared

New business premium income of LIC's pension and group superannuation business reported nearly 40% growth

Fixed deposits are the most preferred savings instrument of Indians Here are the latest interest rates on fixed deposits of less than ₹2 crore offered by SBI, PNB, BoB and HDFC Bank

Health policy that addresses covid-related costs shouldn’t come at the cost of regular plans

Since April 2016, the government has been revising interest rates PPF account on a quarterly basis. Prior to that, PPF interest rates were revised once a year

Salary and job cuts have taught families to curtail unnecessary expenses and save more aggressively One of the major realizations people have had is that how little they need and how much they want

Household financial savings, which form a bulk of overall savings in the Indian economy, increased in 2019-20 after falling the previous year

Insurers are asking for covid-19-based disclosures at the time of buying insurance, especially term plans The number and kind of questions pertaining to covid-19 symptoms can differ among various insurers

IDBI Bank on 30 May reported a net profit of Rs135 crore in the quarter ended March as against a loss of Rs4,918 crore for Q4FY19. However, for FY20, it’s net loss stood at ₹12,887 crore against a loss of ₹15,116 crore in FY19

Pradhan Mantri Vaya Vandana Yojana (PMVVY) is a pension plan available with LIC for senior citizens Under the plan, the maximum pension amount is limited to ₹10,000 per month

Unlike fixed deposits, perpetual bonds have no guarantee even though they are issued by banks. Some of the perpetual bonds (such as AT1 bonds) are explicitly issued as 'risk absorbing' instruments.

The move comes at a time when restaurants across the country have been severely impacted due to the country-wide lockdown announced to contain the spread of covid-19, and worked on limited capacity to fulfill delivery-only orders

The income tax department said that an employee can change the option of tax structure at the time of filing income tax return TDS will get adjusted accordingly

Banks classify accounts as standard, substandard and doubtful, based on the number of days their payments are delayed Borrowers turn non-performing only after 90 days of overdue and are classified as standard prior to that, notwithstanding any delay in repayments

A rebound in global equity markets put pressure on gold prices Gold prices had hit new highs in India this week

The clause of force majeure will not apply in case of Covid-19 death claims, Life Insurance Council said earlier this month LIC has announced an extension of 30 days for payment of premium

All person must wear a three-ply mask or a cloth mask in public places, said Praveen Pardeshi, Mumbai Municipal Commissioner The number of coronavirus patients in Maharashtra climbed to 1,078

Govt cuts small savings interest rates for April-June by 70-140 bps The Public Provident Fund will now fetch 7.1% returns, after an 80 bps cut in its interest rate

A notification issued by the Government of India on 30th March 2020 with respect to some other amendments done in the Indian Stamp Act is being misquoted, the government said

Government could revise interest rates on small savings scheme by a token 25-30 basis points across products SBI pays interest of 5.9% across its FDs between one and 10 years

The credit history of the borrower will not be impacted The RBI today cut repo rate by 75 basis points and also cut cash reserve ratio by 100 basis points

On Tuesday RBI had done the first tranche of OMO following the tightness in the commercial paper market RBI governor Shaktikanta Das said the central bank was ready to act and the rate cut decision will be taken by the monetary policy committee (MPC)

Coronavirus can sicken or kill young people as well, the World Health Organization said Today I have a message for young people: 'You are not invincible, this virus could put you in hospital for weeks or even kill you,' WHO Director-General said

SBI said the new FD rates of interest shall be made applicable to fresh deposits and renewals of maturing deposits SBI today also cut its marginal cost of fund-based lending rate (MCLR) by up to 15 basis points

A small portion of the estimated ₹10,000 crore AT1 bonds issued by the bank are also held by individual investors Many of the investors are guilty of believing that the bonds are as safe as FDs and will give better returns

Check with your health insurer if it’ll cover Covid-19 when it’s declared a pandemic Insurers are mandated to cover hospitalization as well as quarantine expenses related to coronavirus

The guidelines were issued after the number of confirmed cases of Covid-19 rose to 39 in India The Health Ministry appealed to the people to observe the dos and don’ts, coughing etiquettes, hand-washing and avoid large gatherings

Loans and insurance products are priced differently for women based on the risk perception in terms of life expectancy and health parameters Longer life expectancy brings down life cover premium, but adds to the cost of health insurance

RBI has superseded the Board of Directors of Yes Bank and imposed a ban on withdrawals and advances Those who have their salary account with the bank are likely to face maximum problems.

EPFO subscribers will get the lowest interest rate in over five years for the current financial year (2019-20) EPFO had given 8.65% interest rate on provident fund deposits for the previous financial year 2018-19

Inflation, which had kept the RBI from cutting interest rates since Dec, is expected to moderate, Shaktikanta Das said The RBI cut interest rates 5 times last year to support an economy headed for its weakest expansion in 11 years

In the new income tax regime as announced in Budget 2020, there are seven tax slabs Contribution by the employer towards the EPF account of an employee of up to 12% remains tax-free

GST of 18% is charged on term policies, which are the cheapest form of insurance as they only carry the mortality cost In the case of traditional policies, which bundle insurance and investment, GST is levied at 4.5% on the first-year premium and 2.25% on premiums for subsequent years

PPF withdrawal from account will be allowed any time after the expiry of five years from the end of the year in which the account was opened The new rules has a provision for extension of PPF account with deposits after maturity

Withdrawal limits of pension plans are all set to increase The mandatory guarantee on pension Ulip segment will become optional from February 1

NSE said that the license has been suspended due to non-compliance with Sebi norms This action follows the 22 November Sebi order which had in preliminary findings held that the brokerage firm had misused client securities

In the case of jewellery found belonging to any other person, the same can be seized and confiscated Gold receipts can also help you show the source of gold in cases you need to show in your ITR or if there’s a tax scrutiny

Healthcare is quite expensive these days, particularly when you’re travelling abroad

From January 1, 2014, revival period of a lapsed LIC policy was restricted to two consecutive years from the date of first unpaid premium

The income tax department uses data from the PAN card to obtain certain information about you Here is how to update address, other details in your PAN card or make any changes

For each notice from the tax department, a particular procedure needs to be followed to file a reply The department can pick up ITRs for scrutiny till up to six months from the end of the financial year in which the return was filed.

You do not need to reply or act upon any any income tax notice if it doesn't have a Document Identification Number You can easily check the validity of any income tax notice or letter that you might have received

The Income Tax department has asked all PAN card holders to not share their Permanent Account Number on social media The I-T department has an online query form where one can safely ask tax-related questions

The new income tax rule on receipt of maturity benefits from insurance policy came into effect from 1st September A higher TDS will be levied if the insurance proceeds are taxable

Under new income tax laws, aggregate cash withdrawal beyond a certain threshold in a year from banks, post offices will attract TDS For TDS calculation from income tax perspective, while buying a property, the buyer has to include payment made for other charges like club membership fee, car parking fee

LIC had started with 168 offices in 1956, and today it has over 4,851 offices LIC is also issuing ePolicy along with physical policy document

An order is being circulated on social media pertaining to extension of due date for filing of IT returns The income tax department has said that the order is not genuine

Digital KYC will involve capturing the live photo of the customer and officially valid documents or proof of possession of Aadhaar Parliament recently passed an amendment bill which allows voluntary use of Aadhaar as proof of identity for opening bank accounts

Any form of economic slowdown has a direct and indirect impact on your personal finances too You cannot control the economic environment or your income flow, but you can control your expenses to a certain extent

This is the fourth time the RBI has cut repo rate this year Retail inflation has remained below the RBI's medium-term target for almost a year

Once your ITR is processed by the income tax department, you will get tax refund directly into your bank account A tax refund becomes due once the assessing officer has processed your ITR file and accepted the tax refund claim.

SBI has also cut interest rate on income tax-saving fixed deposits The sharp cut in interest rate on SBI FD rates comes amid a fall in interest rate in the financial system

Even if you don’t have to pay tax on the income, you still need to report it Even if tax is deducted on salary and TDS is paid on your interest income, you may still notice that there are some taxes due

In India, no income tax is levied on inheritance of gold but subsequent sale of the inherited gold is taxable Taxpayers should maintain the documentation on inherited gold: Tax experts

FM Nirmala Sitharaman today announced that Aadhaar and PAN would be made interchangeable Additional income tax deduction of ₹1.5 lakh on home loans for affordable houses costing below ₹45 lakh announced in Budget 2019

This income tax rebate under Section 87A is applicable for individuals who have a taxable income of less than ₹5 lakh Tax experts say that assessees should take benefit of income tax rebate to the extent possible

RBI has waived all charges on fund transfer through RTGS, NEFT The central bank has asked all commercial banks to pass on the benefits to customers

Liquid mutual fund schemes will have to hold at least 20% in liquid assets Company founders should disclose reason after pledging 20% stake

PPF has fetched 8% interest rate since October Senior Citizens Savings Scheme and Sukanya Samriddhi account may continue to fetch higher interest rates than other small savings schemes

PPF accounts can be extended beyond 15 years, with or without making further contribution Partial withdrawal is allowed from PPF accounts and while premature closure is allowed in specific cases

According to experts, there are three things to consider: healthcare inflation, your family medical history and your salary Another way to determine the healthcare cover is to consider the kind of treatment you are likely to seek

Offences under serious criminal cases are 'generally' non-compoundable now The CBDT has listed 13 cases where the offences are not to be generally compounded

The new guidelines kicked in from this Monday and applies to all cases for compounding received on or after June 17 The revised guidelines issued by the Income Tax Department have made serious offences under black money and benami laws 'generally' non-compoundable

An EPFO subscriber can take non-refundable PF advances during the service period for s purposes Under the Provident Fund scheme, you can take both refundable and non-refundable loans

Like most other goals, a high quality education goal(s) can be achieved, with the right planning, discipline and execution

TDS needs to be 31.2% of the rent, unless the NRI landlord furnishes a certificate stating that his total income in India is estimated to fall below the tax exemption limit Failing to deduct TDS from an NRI landlord can also attract a penalty equal to tax not deducted under Section 271C of the Act

The concept of financial freedom need not be associa-ted with early retirement only

The Income Tax department has revised Form 15H to incorporate changes made in the interim budget The old Form 15H did not took into account the maximum allowable rebate of ₹12,500

PF members are allowed to fully or partially withdraw balance from their account To apply for such withdrawal online, the subscriber must have an active UAN (Universal Account Number)

Life Insurance is about financial protection for your loved ones Here's how you can choose the correct term insurance policy for your loved ones

The regulator’s draft calls for more coverage and fewer exclusions Here’s a quick lowdown on how it affects you

Senior citizens, above 60 years of age, have to submit Form 15H to banks at the beginning of a financial year to ensure that no tax is deducted at source on interest income (iStock)

Private equity firm TPG Capital, Indigo Partners, National Investment and Infrastructure Fund (NIIF) and Etihad Airways are in the race to buy a stake in the grounded Jet Airways. (ANI)

Investors often hold more money in property and gold than what the portfolio needs Financial assets not only have the potential to produce higher returns but also provide the required flexibility, tax efficiency and transparency

One of the advantages of financial assets over physical assets is the convenience of buying and selling. For example, if you want to buy equity shares, you open a broking account and simply give an order to buy from exchanges

Creating a financial safety net for a child is crucial. Plan ahead to accumulate enough

Considering high medical inflation, a large health cover will help protect your wealth

Between 2013 and 2017, standalone health insurance companies gained substantial presence in the retail segment

The new Income Tax department notification says that individuals like the managing director, director, partner, trustee, author, founder, karta, CEO or office-bearer of such entities should also apply for a PAN card, in case they don’t have one, within 31 May of the next financial year.

Do not forget to declare your gifts while filing your income tax return (ITR). Check whether the gift you receive on Diwali from your friends, relatives or your employer is taxable.

A personal accident policy insures you against death, permanent total disability, permanent partial disability and temporary total disability in case of an accident

If you are buying life insurance, put a plan in place for your dependants to follow, though they would still need to cover that last mile of claim settlement in your absence on their own

Having a different financial planning strategy for different stages of one’s life cycle can help simplify the task of investing for various tenures

Lapsing your insurance policy, especially a term insurance plan, means your loved ones are not financially protected in the event of your death

Experts recommend investors to hold on to their equity mutual fund investments for a time period of at least five years

Financial planning for old age cannot be planned only after retirement or at the age of 55-60. One has to prudently start saving and investing money as early as possible

One of the most contentious issues, which is also the reason for the highest number of grievances lodged by health insurance policyholders, pertains to “exclusions” under a health insurance contract. As more comprehensive products are being introduced, the list of exclusions by insurance companies (to avoid litigation and court awards) is also growing.

Sai Pramod bought a house in 2003, and for 10 years after that, he just focused on repaying the loan. How a plan helped him put his financial life in order

India’s GDP amounted to $2.597 trillion at the end of last year, against $2.582 trillion for France

If you have sold shares, mutual fund units, property or gold, you must disclose the gains in your income tax returns (ITR). Here’s how to calculate your gains and disclose them

Invest in residential real estate only if you have the patience and the staying power to play a very long waiting game for returns

Here is a look at the taxes that apply to short-term and long-term gains from gold and real estate investments

It is mandatory to file ITR if gross total income of an assessee exceeds the maximum exemption limit

Mint speaks with four experts for their opinion on how much health insurance cover is necessary and the most efficient way to buy it

Most of the income tax notices that you may get are routine and there’s no need to worry if you have not hidden your income and filed your returns

Here is a look at the taxes that apply to short-term and long-term gains from these two asset classes—gold and real estate

Tax is deducted at the prescribed rate by the tax department if the permanent account number (PAN) is provided by the recipient of income or at the rate of 20% or at the maximum marginal rate of 35.88% in the absence of PAN

LIC held equity assets (including shares and mutual funds) worth Rs5 trillion at the end of December, and the trading profits are 5% of assets under management

While government does not consider cryptocurrencies legal tender, it will explore use of block chain technology proactively for ushering in digital economy

Rental income from house property situated in India is liable to income-tax in India

Many people do not buy insurance for their retirement years. However, as insurance is a cover for unexpected events; it is going to become more crucial to us especially after the earning phase is over

The insurance regulator has spelt out strict turnaround timelines on claims and penalty on violation, under the Protection of Policyholders’ Interests Regulations of 2017

Less than one-third (29%) of households have at least one usual member covered under health insurance or health scheme, shows National Family Health Survey

Here are some factors that impact the rate at which your savings grow each year

Small savings schemes public provident fund (PPF) and national savings certificate (NSC) will now have an interest rate of 7.6% while kisan vikas patra (KVP) will yield 7.3%

The finance ministry has asked PSBs to discuss consolidation of overseas branches and take a final call on closing some unviable operations

The figure marked a 23.8% increase over the Rs10,900 crore in trading profit that LIC earned in April-September 2016 by selling equity holdings

IRDA clarifies linkage of Aadhaar number to insurance policies is mandatory under the prevention of money laundering rules

DoT secretary Aruna Sundararajan says the telecom dept is waiting for Supreme Court judgement on the Aadhaar issue to decide on Aadhaar-Mobile linking

The New India Assurance IPO was fully subscribed on Wednesday on the back of a $1 billion bid by LIC

LIC has increased its stake in Colgate Palmolive India from 5.016% to 7.037% by buying an additional 54,97,334 shares in the company

From income-tax perspective, there is a specific exemption for foreign citizens on the requirement to obtain Aadhaar for income-tax return filing and PAN application

LIC’s substantial bid of Rs8,000 crore worth of shares is the reason why the GIC Re IPO was substantially subscribed on the first day itself

The apex court directed Reliance General Insurance Co. to pay Rs8.35 lakh to the Hisar-based customer whose insured truck was stolen but his claim was rejected on the grounds of delay in filing it.

RBI’s six-member monetary policy committee keeps interest rates unchanged at 6% because it anticipates upside risks to retail inflation

People come up with many reasons for not buying insurance. We need to bust these excuses because insurance is a vital part of every financial plan

Long-term capital gains from the sale of a residential property can be claimed as exempt if they (i.e. capital gains and not sales consideration) are re-invested in the purchase or construction of one residential house located in India, subject to certain conditions.

If a person lives in India for more than 182 days and in the remaining period works outside India, and gets a salary for that work, how should we compute the tax liability of the person? To compute tax liability of that person, how should I convert the amount of the salary to India rupees from dollars? How should I decide what exchange rate to consider for this purpose?

LIC previously had 4,79,54,35 shares in Nestle India, accounting for 4.97% stake

If no insurance claim is made for a period of 25 years after the transfer, you will have to forfeit the money and it will belong to the government

IRDA chairman T.S. Vijayan has urged insurance companies to start offering cost-effective insurance policies to customers rather than incentivizing insurance agents with commissions and focusing only on increasing profitability.

Individuals who qualify as non-residents are mandatory required to file a tax return in India if they have any income taxable in India by 31 July 2017

LIC’s decision to raise its investments in stock markets by at least Rs50,000 crore from 2016-17 was taken after a steady surge in its premium income for three consecutive quarters

IRDA has identified LIC, ICICI Prudential, HDFC Standard Life, Bajaj Allianz, Kotak Mahindra and SBI Life as potential candidates to take over Sahara Life’s business

If you are cash strapped and in urgent need of money, you can take loan against your life insurance policy

State Bank of India (SBI) revises the rates for medium and long term deposits and for amount below Rs1 crore

Life Insurance Corp. of India (LIC) booked Rs21,000 crore in profits in FY17, compared with Rs11,000 crore in FY16

Keep these factors in mind when picking the right insurance cover for you and your family

World Bank data shows that public health expenditure in India is abysmally low at 1.4% of GDP as of 2014, compared to a world average of 6%.

LIC to invest the surplus money it earned from premiums this year in fixed income papers instead of stocks because of adverse market conditions

Of the Rs 12.44 trillion that has come into the formal system, some has found its way into financial assets such as life insurance policies

The government has also raised additional Rs 11,929 crore through investors availing capital gains exemption. MoS for road transport and highways Mansukh L Mandavia had told Rajya Sabha that NHAI plans to raise Rs55,000 crore in the current fiscal.