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Source: Live Mint Life Insurance Corporation has rolled out LIC New Smart Pension Plan. It is a non-participating, non-linked, individual, savings, immediate annuity plan. This is a single premium immediate annuity plan. The official website of the state insurer – last updated on Feb 18 – specifies that the plan offer a wide range of…
Source: Live Mint Insurance regulator IRDAI has allowed one time mandate for blocking the amount towards premium through unified payments interface (UPI mandate) for issuance of life and health insurance policies. This facility — known as Bima-ASBA (applications supported by blocked amount) — transfer of money from a prospective policyholder to the insurer will take…
Source: Live Mint Union Finance Minister Nirmala Sitharaman has asked the insurance companies to increase the free look period to one year, compared to its current level of one month, according to a CNBC-TV18 report on Monday, February 17. According to the report, Nirmala Sitharaman also said that the committee has finished the internal consultation…
Source: Live Mint Indians typically view the US as a stable destination and a land of opportunities. In today’s interconnected world, where global mobility is the norm, more Indians have ties to the US, not just family but also business, financial, and other interests. Indian families who have members based in or are citizens of…
Source: Live Mint I am a newly qualified chartered accountant. I would like to start my own practice, which would focus on audit and advisory services. Would it make sense for me to buy professional indemnity insurance? How would it help? -Name withheld on request Professional indemnity insurance is meant for professionals like you. The…
Source: Live Mint Life insurance provides financial security to a family in the event of the unfortunate death of the policyholder. Its primary aim is to ensure financial independence for the policyholder’s family. However, some policyholders may choose a life insurance policy as an investment option. Kirtan Shah, Co-founder and CEO of FPA Edutech, an…
Source: Live Mint Delhi resident Gyan Chand and his wife Mahadevi bought a flat worth ₹50 lakh in Noida in 2017. It was an under-construction flat for which he took a loan of ₹24 lakh. He also bought a group personal accident policy to secure the loan. Unfortunately, he died in October 2021 after a…
Source: Live Mint India is home to over 300 million self-employed individuals, accounting for nearly 50% of the workforce. This diverse group includes gig workers, small business owners, freelancers, and independent professionals like doctors, lawyers, and architects, among others. Read this | Your rights in life and health insurance claims: Unpacking the moratorium clause Self-employment…
Source: Live Mint Selecting an insurance plan can be a hassle. You need to choose the insurance company and then the insurance product. Certain ratios play a key role when comparing insurers. We list the best insurers in terms of different ratios, along with brokers’ ratings depicting their experience of working with insurers, based on…
Source: Live Mint One of my friends recently offered me a top-up insurance plan. The plan covers ₹5 crore sum assured sans a deductible of ₹20 lakh. This would cost around ₹1,000 every year. My wife and I are 40 years old, and my children are 12 and 7. Is this a real option or…
