LIFE INSURANCE HIGH SURRENDER VALUE
ICICI Pru Life shares gain 0.33% as Sensex falls
A total of 5,521 shares changed hands on the counter till 10:45AM (IST)
ICICI Pru Life shares gain 0.91% as Sensex rises
A total of 4,247 shares changed hands on the counter till 10:35AM (IST)
ICICI Pru Life shares decline 1.7% as Sensex climbs
A total of 40,727 shares changed hands on the counter till 01:59PM (IST)
M-cap of five of top-10 most valued firms jumps Rs 85,582 crore; LIC biggest gainer
Top-10 firms gained Rs 85,582.21 crore in market valuation last week, with LIC leading. BSE Sensex rose 0.39%, hitting an all-time high. Market cap changes noted for Reliance, HDFC, Bharti Airtel, SBI, and LIC.
Life insurers' margins may take a hit on early surrender directive
Insurance companies in Mumbai are adapting to IRDAI's directives on surrender values, anticipating an impact on new business margins. Insurers are exploring changes in their business models to align with the new regulations and focus on growth over profitability.
LIC shares soar 6% on plans to enter health insurance market
LIC's shares surged 6% on plans to enter the health insurance market. The stock is trading at Rs 1074 on NSE, up 4.55%. LIC aims to acquire a standalone health insurance company to expand its market presence.
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Higher refund on premature exit from life insurance policy as IRDAI introduces new surrender value rule; check how much you will get
Life Insurance Policy Surrender Value Rule Changes: To curb mis-selling of life insurance plans, IRDAI has introduced a higher special surrender value for traditional endowment policies. Even if a policyholder exits a life insurance policy after the first year, he would get a part of his premium back if he has paid it. Till now, there has been no refund on exiting the policy in the first year. How much money will you get back if you prematurely exit your life insurance policy? Check calculation here.
Buzzing! Insurance stocks in focus after IRDAI increases surrender value
Insurance stocks rose up to 3% after IRDAI increased surrender values for non-linked products, affecting insurers like LIC, HDFC Life, and Max Life. Shares of LIC, HDFC Life, and SBI Life were up on BSE. Nuvama awaits more details from companies next week.
The Life Insurance Rule: How much money will your family need if your income stops?
Life insurance rule: A common rule of thumb for life insurance coverage is to have a life insurance policy that is at least 10 times your current income. This coverage should take into account any outstanding debts and loans you have. By following this rule, you can estimate the income your family would need to maintain their standard of living if you were to pass away.
ICICI Pru Life shares up 0.9% as Sensex rises
A total of 55,096 shares changed hands on the counter till 10:30AM (IST)
IRDAI asks life insurers to offer surrender value in first year
The regulator issued a master circular, which mandates insurers to pay special surrender value (SSVs) after the first policy year, provided one full year's premium has been received.
Life insurers to mandatorily provide loan facility against policies: Irdai
Issuing a master circular which consolidates all regulations with regards to life insurance policies, the Insurance Regulatory and Development Authority of India (Irdai) also said the free look period, which provides time to review the policy terms and conditions, is 30 days as against 15 days earlier.
ICICI Pru Life shares down 0.3% as Nifty gains
A total of 3,136 shares changed hands on the counter till 12:53PM (IST).
ICICI Pru Life shares down 0.06% as Nifty gains
A total of 9,820 shares changed hands on the counter till 01:13PM (IST).
Share price of ICICI Pru Life rises as Nifty strengthens
A total of 16,535 shares changed hands on the counter till 12:01PM (IST).
Mcap of 8 of top-10 valued firms jumps Rs 3.28 lakh cr; TCS, HUL, Reliance lead winners
Eight of the 10 most valued domestic firms together added Rs 3.28 lakh crore to their market valuation last week, with blue-chips Tata Consultancy Services, Hindustan Unilever and Reliance Industries emerging as the biggest winners. In an eventful week, the BSE benchmark jumped 2,732.05 points or 3.69 per cent.
Shares of ICICI Pru Life rise as Nifty gains
On the technical charts, the 200-day moving average of the stock stood at Rs 550.92.
ICICI Pru Life shares rise 0.55% as Nifty gains
The stock quoted a 52-week high price of Rs 640.8 and a 52-week low of Rs 463.5.
Insurance stocks offering good defensive positions with strong value additions: Sanjiv Bhasin
Amid election result uncertainties, staying invested is advised. Anticipated market rebound post-results may drive new highs. Favorable fundamentals support quality stock buying, especially in insurance and banking sectors. Opportunities also seen in mid and small-cap stocks like Rattan Power.
Insurers worried over surrender value rule
Life insurance companies have expressed concerns over proposed regulatory changes that would offer higher surrender values to policyholders the first year itself. Industry representatives have sent their feedback saying that these reforms could severely impact profitability and policy persistence.
Mcap of nine of top-10 most valued firms jump Rs 1.85 lakh cr; Reliance, HDFC Bank sparkle
Nine of the top-10 most-valued firms together added Rs 1,85,320.49 crore in market valuation last week, with Reliance Industries Ltd and HDFC Bank stealing the show with maximum gains, in line with rally in equities.
This LIC life insurance policy launched in February 2024 was withdrawn on April 1: Check surrender rules
LIC Dhan Vriddhi plan provides financial support for the family in case of unfortunate death of the life assured during the policy term. It also provides a guaranteed lump sum amount on the date of maturity to the life assured.
Government gains PSU muscle as stocks climb peaks
The value had touched a high of 22% of total market capitalisation of listed firms in June 2009, dropping to a low of 5.1% in September 2020 before doubling since then, according to data from primeinfobase.com. Re-ratings amid large valuation discounts, high dividend yields, record cash flows and news of possible privatisation triggered a sharp rally in public sector companies over the last three years.
Life insurance: IRDAI retracts on low surrender value proposal; know applicable surrender charges from April 1, 2024
The Insurance Regulatory and Development Authority of India (IRDAI) has finalised surrender charges for non-linked or linked life insurance products — traditional endowment policies. The charges will come into effect from April 1, 2024. This decision by IRDAI maintains the status quo on surrender values, meaning minimal change from existing charges. While this benefits life insurance companies, it offers little relief for policyholders seeking more flexibility with their policies.
HDFC Life shares jump 3% after IRDAI's surrender regulations soothe Street's nerves
The Insurance Regulatory and Development Authority of India (IRDAI) has notified new product regulations that include guidelines for revised guaranteed surrender value (GSV) of life insurance policies.
IRDAI retains existing surrender value norms after pushback from industry
The regulator has also allowed the sale of Index Linked Insurance Products tied to publicly available indexes. Initially proposed higher surrender values in draft regulations were reconsidered due to industry feedback, with IRDAI opting to retain the regulations.
Major changes in insurance regulations — new health insurer Galaxy Health, Bima Sugam, more protection for policyholders
IRDAI has approved eight principle-based regulations at its recently held board meeting. The primary ones include Bima Sugam — an online marketplace for insurance policies, product regulations regarding the surrender charges of the insurance policies, and regulations for the protection of policyholders. All you need to know
After being imposed income tax on Rs 1.48 cr payout from surrendered pension policy, NRI filed appeal in ITAT and wins
Income tax appeal: A non-resident Indian (NRI) has won a appeal in the Mumbai bench of Income Tax Appellate Tribunal (ITAT). What happened was the NRI surrendered a pension policy purchased from ICICI Prudential Life Insurance Company and got Rs 1.48 crore. Income tax assessing officer however imposed tax on this income of Rs 1.48 crore.
Top life insurance cos raise concerns over proposed change in policy surrender values
Insurers have raised concerns about persistency, particularly for long-term products with premium paying terms exceeding 10 years. They fear that distributors may incentivize policyholders to surrender existing policies and switch to newer ones promising higher returns.
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