LIC KYC
Expect LIC’s VNB margin to grow 2-3%, India embedded value to surge at least 10% in FY25: Siddhartha Mohanty
LIC Chairperson Siddhartha Mohanty highlights significant growth in India embedded value and VNB margins, aiming for further growth. Market seeks clarity on VNB margins. Expectations include a 10% increase in IEV this year. Mohanty further says that in the current year, focus will be on catering to certain segments and a specific product will be designed for those segments.
LIC customers: How to file maturity claim for LIC policy to get your money
LIC customers have the option to electronically submit their documentation via the LIC site instead of physically submitting it. LIC is urging policyholders to update bank details and submit KYC to receive policy money.
IRDAI issues new circular to help speedy disbursal of unclaimed insurance money
Due to an increase in unclaimed amounts and concerns from insurers over regulatory compliance, the Insurance Regulatory & Development Authority of India (IRDAI) modified the Master Circular on unclaimed amounts of policyholders
Atal Pension Yojana: Online facility to ease onboarding and seeding of Aadhaar for APY subscribers
The Pension Fund and Regulatory and Development Authority (PFRDA) has issued a master circular on the online facility to ease onboarding and seeding of Aadhaar for APY subscribers. The master circular was issued on January 31, 2024.
Have a life insurance policy that does not suit your need? How to find out and get rid of bad insurance covers
The assured returns and enormous maturity amount of life insurance policies look tempting to many. Topping the list is the need to save tax. Whatever be the reason, millions of Indians are holding life insurance policies that don’t suit their needs. Before you buy insurance, ask yourself if you need it at all. How to find out if you have a bad life insurance policy and how to get rid of it.
CDSL crosses 8-crore active demat accounts’ milestone
CDSL is India’s leading and only listed depository. It received its certificate of commencement of business from Sebi in February 1999 and it facilitates holding and transacting in securities in the electronic form and facilitates settlement of trades on stock exchanges
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Double whammy! Tax exemption reversal makes life insurance cos run for cover
Shares of life insurance companies fell sharply in trade on Wednesday following the announcements and extended the losses on Thursday. Shares of SBI Life Insurance, Life Insurance Corporation of India (LIC), Max Financial Services, and HDFC Life Insurance Co declined 0.5-6%.
Govt proposes changes in Banking Regulation Act, other laws to enhance investors' protection
To facilitate certain strategic disinvestments, it is proposed to allow carry forward of accumulated losses and unabsorbed depreciation allowance in the case of amalgamation of one or more banking company with any other banking institution or a company subsequent to a strategic disinvestment, if such amalgamation takes place within 5 years of strategic disinvestment.
NPS, credit card reward points, insurance: 5 key money rule changes from January 1, 2023
From credit card reward points to partial withdrawal rules for National Pension System (NPS) subscribers to mandatory know-your-customer (KYC) documents for purchasing insurance policies, a host of rules are going to change starting from January 1, 2023. Here's a list of financial rule changes applicable from next month.
LIC warns policyholder about fake information with regard to penalty charges for KYC update
Customers who fail to update their Know Your Customer (KYC) information for life insurance plans are not fined, according to the Life Insurance Corporation of India.
How to open NPS account online
National Pension System (NPS) is government scheme to offer pension during the retirement years. The scheme offers various benefits under the Income-tax Act, 1961. Earlier the process of opening the NPS account was partially online. However, now an individual can open the NPS account completely online. Read on to know the step-by-step guide for opening of NPS account.
Analysts confident about LIC's growth prospects: 4 reasons it's this week's stock pick
Huge protection gap, under-penetrated market, digital initiatives and focus on bancassurance through tie-ups will provide growth impetus to LIC.
LIC Housing Finance revises home loan interest rates
The benchmark prime lending rate of LIC Housing Finance (LIC HFL) has been modified (LHPLR). The new interest rates on home loans go into effect on September 20, 2022.
Why insurance stocks could be the next multibaggers: Which are the best bets?
While Covid brought unprecedented challenges, it helped the insurance sector to learn new things. Technology has made the distribution of the product faster and cheaper, which is critical to increase the bottom line of a company. The industry is likely to grow faster now as the economy is recovering from the pandemic impact.
Banks offering best FD interest rates for senior citizens
There are a variety of investing alternatives available to senior citizens, but the most common is a fixed deposit. It is one of the most commonly used financial tools by senior citizens to invest their funds.
Buy CDSL, target price Rs 1500: HDFC Securities
Central Depository Services (India) Ltd., incorporated in the year 1997, is a Small Cap company (having a market cap of Rs 13531.18 Crore) operating in Financial Services sector.
LIC asks policyholders to update bank details for easy claim process: Here’s how to register for NEFT mandate
If you are receiving annuity payments through ECS, you can choose to receive them via NEFT by submitting a mandate, or you can continue to receive them via ECS. If the bank details change after submitting the NEFT details, a new mandate form must be submitted.
LIC has Rs 21,500 crore unclaimed funds: How LIC policyholders can check for unclaimed amount
If any LIC policyholder or a beneficiary wants to know whether any amount under his/her LIC policy is lying unclaimed with the insurer, this is what they should do.
How to check if there is any amount unclaimed under LIC policy
If any money is left unclaimed for more than 10 years, all the amount is transferred to the Senior Citizen Welfare Fund, such funds are used for the benefit of senior citizens, as per rules.
How LIC policyholder can update PAN details with the insurer to invest in its proposed IPO
“In the interest of our policyholders, we have in the past been running advertisements calling upon you to update your PAN details in our records. If you yet have not provided this information to the corporation, please do so at the earliest."
IPO-bound LIC asks its policyholders to update PAN for participation in public offer
"In order to participate in any such public offering, policyholders will need to ensure that their PAN details are updated in the Corporation's records. Further subscribing to any public offering in India is only possible if you have a valid DEMAT account," LIC said in a public notice.
BSE StAR MF launches brokerage management services
The exchange has partnered with PGIM MF, LIC MF, and Quantum MF for launching this service, BSE said in a statement.
LIC Mutual Fund launches eKYC services
The digital KYC process will facilitate all BSE StAR Members to ensure zero contact, hassle-free customer onboarding process, especially during this COVID situation.
LIC policyholders can submit maturity claim documents online till June 30, 2020
The policyholders can send the maturity claims and survival benefit requirements by email. The mail should be sent to the servicing branch. Make sure that the mail ID is used only for sending the claim requirements and not for any other purpose.
IRDAI working with govt to create a simple platform for KYC
"Aadhar is not mandatory for the (insurance) sector but is the most simple one. On the government level they are creating a platform for all the KYC.
LIC introduces third gender option in its proposal form; move cleared by IRDA
Till now, policy buyers could choose between ‘male’ and ‘female’ as gender options. Now transgender applicants can opt for the ‘third gender’ category.
Financial institutions, mutual funds seek easier tax rules, uniform KYC norms to encourage retail investors
Local brokerages, mutual funds and stock exchanges discussed the financial markets on the second day of deliberations called by the finance ministry.
LIC creates platform for Aadhar-linked electronic KYC norms
Integration of eKYC with Aadhaar would provide linkage to policy operations and in the coming years, the focus would be on enabling eKYC in various in-house applications.
Cobrapost fallout: Govt, RBI looking at hiking penalty amount
The regulator has sent show-cause notices to the erring banks and is awaiting their replies to take appropriate corrective measures, Takru said.
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