SURRENDER CHARGES
Mercedes crash in Nagpur: Woman driver surrenders before police
Ritika alias Ritu Maloo on Monday walked into a city police station where she was formally arrested in the evening after questioning, they said. Late last month, the Nagpur bench of the Bombay High Court refused pre-arrest bail to the woman, saying no prudent person drives under the influence of alcohol and termed it as a serious misconduct.
Trai mulls charges for existing, newly allocated numbering resources to ensure efficient use
Telecom regulator Trai is seeking stakeholders' views on the introduction of charges for existing and newly allocated numbering resources to ensure their judicious and efficient use. Trai's recent consultation paper, 'Revision of National Numbering Plan,' emphasizes the value of numbering resources and the need for their efficient utilization by telecom service providers.
Prajwal's mother Bhavani Revanna surrenders to SIT, granted anticipatory bail
Bhavani Revanna, mother of rape-accused former MP Prajwal Revanna, appeared before the Special Investigation Team (SIT) in connection with an abduction case, following a direction from the Karnataka High Court for interim anticipatory bail.
Bhagat Singh was hung to death, I am ready to do the same: Kejriwal before going back to Tihar jail
Delhi Chief Minister Arvind Kejriwal denounced the Narendra Modi government as he prepared to return to Tihar jail, comparing his situation to Bhagat Singh's sacrifice. Facing money laundering charges, he thanked the Supreme Court for bail during elections. Arvind Kejriwal asserted his innocence, claiming his arrest was politically motivated by the BJP
Karnataka obscene video case: Prajwal Revanna to be in police custody till June 6
India's index of eight core sectors saw a 6.2% annual growth in April, following a 6.6% growth in March. The eight sectors had grown 4.6% in April 2023. The production of electricity, natural gas, coal, steel, refinery products, crude oil, and cement showed positive growth. However, coal sector output decreased by 7.5% YoY, while crude oil sector saw a 1.6% growth.
Prajwal Revanna arrested after completing due process, legal procedures will follow: Karnataka HM G Parameshwara
Karnataka Home Minister G Parameshwara confirmed the arrest of suspended JD(S) MP Prajwal Revanna for alleged sexual abuse of multiple women. The home minister stated that the arrest followed due process and will aid the SIT's investigations. Prajwal was apprehended by the SIT upon his arrival from Germany. Authorities are encouraging other potential victims to come forward and give their statements.
- Go To Page 1
Karnataka obscene video scandal: Revanna Jr. arrested at Bengaluru airport
JDS MP Prajwal Revanna, implicated in Karnataka's scandalous video controversy, was apprehended upon landing in Bengaluru early Friday by a team of women IPS officers. He's to be presented before the Special Court of People's Representatives. Meanwhile, the SIT probing the case has summoned his mother for questioning. State authorities assure security to victims willing to testify.
Karnataka obscene video scandal: Revanna Jr. arrested at Bengaluru airport
JDS Hassan MP Prajwal Revanna arrested in Bengaluru on sexual assault charges after fleeing country amidst obscene video scandal.
Excise scam: Delhi court reserves order on cognisance of charge sheet against K Kavitha
A court in India is set to decide on May 31 whether to accept a supplementary charge sheet filed by the Enforcement Directorate against Bharat Rashtra Samithi leader K Kavitha in an excise policy-linked money laundering case. The court has reserved the order after the agency claims it has sufficient evidence to prosecute Kavitha. The case involves alleged corruption and money laundering in the formulation and execution of the Delhi government's excise policy for 2021-22.
If you choose AAP on May 25, I won't have to go back to jail: CM Kejriwal at roadshow
Accompanied by his Punjab Chief Minister Bhagwant Mann, Arvind Kejriwal held a roadshow in Moti Nagar in support of party's New Delhi Lok Sabha candidate Somnath Bharti. "I have to go back to jail after 20 days. If you choose jhadu (AAP's symbol), I won't have to go back to jail," the chief minister said.
Biden surrendering US campuses to "anarchists, jihadist freaks": Donald Trump on college protests
Trump further claimed that "the very same people who are funding the violent campus uprisings are also funding Joe Biden's campaign", adding that Biden is running a "radicalised" Democratic Party.
Land for job PMLA Case: Court asks businessman Amit Katyal to surrender; raises finger on ED's conduct
Businessman Amit Katyal's plea for extending interim bail in a land-for-job money laundering case was rejected by Rouse Avenue Court. Bihar's former CM Rabri Devi and her daughters were charged. The court criticized ED's conduct on privacy breaches and ordered Katyal's surrender while emphasizing privacy rights and ED's awareness
New insurance rule: 30-day free-look period now to return unwanted, mis-sold policies; how much will you get back from insurer?
IRDAI extends the free-look period for life and health insurance policies to 30 days. This means policyholders have a month to review policy terms and return them. Insurance policyholders are eligible for a refund if they cancel the policy during the free-look period, regardless of how they purchased it (online or offline). Previously, only electronically purchased policies had a 30-day free-look window. How much
Delhi Excise policy case: Rouse Avenue Court asks AAP MP Sanjay Singh to surrender passport
Sanjay Singh granted bail in Delhi excise policy case after surrendering passport. Supreme Court noted no money recovery. Allowed political activities but barred case statements. Bail terms set by special court.
IRDAI new regulation on surrender charges decoded; SBI Life, LIC top buy in insurance space now
IRDAI's enhanced surrender charge regulations set surrender value requirements based on policy year. Exposure draft included threshold premiums for non-linked products.
Two insurance rules from April 1, 2024: Demat type e-Insurance Account must to buy new policies, latest surrender charges
Two major insurance rules that are effective from April 1, 2024, are — compulsory e-Insurance policies for new policyholders and the latest the surrender charges of the life insurance plans such as endowment policies. To make it easier for insurance policyholders, we have summarised the main changes here. Read on
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.
IRDAI issues series of regulations, tweaks regulation on surrender charges
IRDAI (Insurance Products) Regulations, 2024 merge six regulations into a unified framework aimed at enabling insurers to swiftly respond to evolving market demands, enhancing the ease of conducting business, and boosting insurance penetration. These regulations promote good governance in product design and pricing, including strengthening the principles governing guaranteed surrender value & special surrender value along with disclosures thereof, IRDAI said in a statement.
Those serious about retirement aren’t attracted to NPS tax benefits: Santosh Agrawal, Policybazaar
"NPS is a good product, but it’s just accumulation and then it invests in annuity. People know of the NPS because of tax benefit, but Rs.50,000 is not a meaningful amount," says Santosh Agrawal, CBO, Life Insurance, Policybazaar.
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.
8 NLFT militants fled from their Bangladeshi camps surrender in Tripura
The militants -- Netajoy Reang (33), Mohonda Reang (36), Sukumar Reang (27), Kiranjit Reang (20) and Bishnuram Reang (26) – deposited a Chinese Pistol, two China made rifles, 17 bullets, 10 shotgun shells, one Walkie-talkie with charging port, Bangladeshi currency of 770 taka, two Bangladeshi mobile sim cards and some incriminating documents.
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.
Surrender fee: Insurers propose dual structure as regulator pitches for a hike
A higher surrender value on nonpar policies, which guarantee survival or maturity benefit without depending on insurers’ profit, could lead to an increase in more people giving up on policies prematurely, according to the insurers. This could result in a decline in persistence levels — or the proportion of policyholders who opt to pay premiums regularly — for the life insurance sector, according to them.
Dropping out of insurance policy? It’s set to pinch less
Irdai has proposed new rules to protect policyholders’ interests under which insurance companies will have to substantially increase the amount they pay to customers who choose to discontinue their scheme early in the term.
Surrendering insurance policy early may cost you less in future
The new rules would put insurers in a dilemma - they must either lower sales or lower profits to address premature policy closures. If insurers cut commissions to make room for higher payouts, it could impact sales. On the other hand, if they retain commissions or pay higher ones, they will suffer a loss in profits.
Irdai proposes limit on surrender charges for non-linked plans
In this draft circular, the regulator has suggested changes in surrender value rules for non-linked life insurance policies. Under the current draft Irdai regulations on non-linked insurance products, surrender values are determined based on a percentage of premiums paid by the policyholder, which increases with the number of premiums paid.
How to surrender a policy? What can be the triggers and how much will you lose?
"Typically a lot of these policies are bought from friends or families or probably a banking relationship without a lot of research and after a couple of years, people understand that this policy probably does not match the financial goal that the person has, that is one of the largest reasons why people basically surrender their policy when they realise that the kind of returns that they are getting or the kind of commitment that they need to make is very high."
Load More
