TERM LIFE PLAN
ICICI Prudential and HDFC Life get GST notices
ICICI Prudential Life Insurance has received a GST notice amounting to Rs. 365 crore, including interest, from the GST authority. The notice demands GST along with applicable interest and penalties for the fiscal years 2017-18 to 2022-23 across all GST-registered states. This pertains to amounts recovered from insurance agents as per commercial terms, which the department alleges should have been deposited as GST.
Is a market-linked pension plan right for you? Vivek Jain explains
Vivek Jain, Head of Investments, Policybazaar.com says that in retirement planning, it's vital to consider both market-linked and guaranteed pension plans, allocating funds based on age and risk tolerance. Including a spouse in joint life coverage and leaving a legacy for nominees are key aspects of securing a stable financial future.
Best corporate bond mutual funds to invest in June 2024
There are no changes in the recommendation list this month. If you are investing in these schemes, you can relax and continue with your investments. Follow our monthly updates regularly.
Headwinds of high FPI exposure, but good for long term: 6 stocks the financial services sector with an upside potential of up to 25 %
One of the most intriguing aspects of presenting the return performance of stocks, or any asset class for that matter, is how a slight adjustment in the calculation date can dramatically alter the perception, making the glass appear either half full or half empty. This phenomenon is particularly evident in the case of financial service stocks. Recently, these stocks have often been portrayed as underperformers. However, this overlooks the fact that over the long term, they have provided substantial returns and generated significant wealth. The short-term underperformance of these stocks can be attributed to their heavy ownership by Foreign Portfolio Investors (FPI). As FPIs have been net sellers in Indian equities, financial service stocks have faced selling pressure. Nevertheless, the relative decline in stock prices is considerably less severe than in previous instances of similar selling activity. Given the robust fundamentals of these stocks compared to a few years ago, it is prudent to view them from a long-term investment perspective.
Vi dials lenders for Rs 23,000 cr term loans, seeks Rs 10,000 cr in bank guarantees
Vodafone Idea (Vi) proposes borrowing Rs 23,000 crore in term loans and seeks Rs 10,000 crore in bank guarantees to enhance its telecom infrastructure and compete with Reliance Jio and Airtel.
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.
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Empowering women with financial planning: Term insurance as a safety net
Women often overlook self-care while balancing caregiving and financial roles. Recognizing the importance of insurance coverage for financial stability is crucial for long-term resilience.
Companies cautious on short-term hiring, but overall outlook stays upbeat
Employers in India are showing caution in short-term hiring for the July-September quarter, with a net employment outlook of 30%, six percentage points lower than the current quarter and the same period last year. While 48% of employers plan to hire more people, 18% expect a decrease in hiring or have no plans to hire. The most optimistic sectors are finance and real estate, healthcare and life sciences, and IT, while communication services and transport, logistics, and automotive are less optimistic.
Tata AIA Life launches Midcap Momentum Index Fund
Tata AIA Life Insurance launches Midcap Momentum Index Fund to capitalize on India's midcap sector growth potential, offering investors a chance to benefit from high-growth midcap stocks through ULIP and ILP solutions.
Best medium to long duration funds to invest in May 2024
There are no changes in the list this month. All the schemes fared well. Please follow our monthly updates to keep track of your investments.
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.
Upstox enters insurance distribution business
HDFC Life is among the first insurers to partner with Mumbai-based Upstox, featuring its term insurance plans on the platform
Bearing the brunt today, but good for long term: 6 stocks with pedigree from the financial services sector with upside potential of up to 28%
One of the best and probably also the worst part of the presentation of return performance of any stocks or for that matter any asset class is a small change in the date for the calculation and one can show whether the glass is half full or half empty. Probably this is happening with the financial service stocks. In the recent past a number of times they have been shown as under performers. But what is being omitted is the fact that over the long term these are stocks which have delivered very good returns and generated wealth. The reason for their short term underperformance is the fact that these stocks are over owned by FPI and because they are sellers in Indian equities these stocks have been facing pressure. But on a relative basis, the pressure in stock prices is far less as compared to what earlier such selling episodes used to bring. Given the fact that fundamentally these stocks are on strong footing as compared to what they were a few years back, it is better to have a look at them with a long term perspective.
SBI hikes FD interest rates but still less than what these 313 debt mutual funds have offered
SBI raises fixed deposit rates by up to 75 basis points, effective May 15, yet falls short compared to over 300 debt mutual funds offering higher annualized returns of 6.47% to 11.60%.
IndiaFirst Life Insurance appoints Rushabh Gandhi as MD & CEO
IndiaFirst Life Insurance has announced the elevation of Rushabh Gandhi, currently the deputy CEO, as its new MD and CEO. Gandhi, with over 29 years of experience in Indian and international markets, will succeed R.M. Vishakha, who is retiring on June 30. Gandhi's appointment is effective July 1 or upon regulatory approvals. The move aligns with the company's succession planning, leveraging Gandhi's strategic vision and experience in driving growth and profitability. His appointment is subject to IRDAI approval and other statutory clearances.
Health insurance claim rejection: Widow fights, wins Rs 28 lakh damage; pre-existing disease can't be free pass for claim denial
The Delhi State Consumer Commission ruled that an insurer cannot reject a health insurance claim solely based on pre-existing diseases if they weren't the cause of death. The commission directed HDFC Life (previously known as HDFC Standard LIC Co. Ltd.) to pay Rs 19.4 lakh along with the interest to a woman whose husband's claim was rejected for not disclosing diabetes. The insurer also has to pay Rs 1,00,000 for mental harassment of the complainant along with the litigation cost. This is a relief for those with common lifestyle diseases like diabetes. Read the full case and verdict in details. What do you need to keep in mind while buying health insurance policy to avoid claim rejection later. Find out here.
Two Shooters get life term, 3 freed in 11-year-old Dabholkar murder case
A special court in Pune acquitted three main accused in the Narendra Dabholkar murder case after the Central Bureau of Investigation (CBI) failed to establish their involvement. The court sentenced two shooters to life imprisonment and fined them ₹5 lakh each. The acquitted individuals include Virendrasingh Tawde, Sajiv Punalekar, and Vikram Bhave. The court observed that while these individuals were not the masterminds behind the crime, there is evidence of someone else orchestrating it.
Bearing the brunt today, but good for long term: 6 stocks from the financial services sector with upside potential of up to 30%
For all those who were again thinking why the financial services sector stocks are leading the recent phase of decline. A look into FPI holding patterns would throw the answer. It is the financial services, including banks where FPIs have the maximum exposure, so if they are booking profit, the first round of selling is bound to come in the sector where they have maximum holding.But there is another part to the story, which is when they come back, it is the very same sectors where they buy the first, because financial services and banks are the best proxy play to GDP growth. Also the fact that the majority of these stocks have ample liquidity plays an important part in the kinds of strong moves these stocks see.
What should be the criteria for selecting the right kind of term plan? Dinesh Dilip Bhoi answers
There are chances of some sickness coming up or some disease coming up in the future which might hamper the person to take a life plan or which might increase, there would be a loading on his premiums with the premiums would get higher and higher and build a hole in his pocket.
To build a corpus of Rs 5.3 crores in 30 years, one needs to invest Rs 17,000 per month
"There are 4 pillars of retirement income namely, social security, employment-based plans, personal retirement assets and family / social structure. Social security in India is not as developed or as widespread as the ones in advanced countries. Only people working in the organized sector and for the government are eligible for employment-based pension plans," says Suresh Soni, CEO, Baroda BNP Paribas Mutual Fund.
Is it a good idea for NRIs to buy insurance from India?
Indian insurance policies offer NRIs flexible options like insurance-cum-investment plans, including child plans, to secure their family's future. These plans provide essential financial security and peace of mind, especially for NRIs managing finances from afar.
It's never too late! Here's how you can plan your retirement even in 40s
Start retirement planning in your 40s with a focus on the asset mix, goal corpus, and expenses. Chirag Muni advises on disciplined steps, insurance coverage, and regular portfolio reviews for a secure post-retirement income.
How increasing earning and wealth have made personal financial decisions truly 'personal'
In the new world of wide economic opportunity, we are more equals than before. Anyone can become rich. But we have not made that transition. We remain somewhat feudalistic in orientation, hero-worshipping at heart, and accept entitled behaviours without much protest. This translates into negative outcomes with respect to money.
Our business from policies above Rs 5 lakh is down by 10%: Kamlesh Rao, Aditya Birla Sun Life Insurance
"The business from policies with premiums higher than Rs 5 lakh is down by an absolute 10%. The number of policies has grown by 20% and we have lost the contribution from plans above Rs 5 lakh by 10%. So, our business for the first nine months was 10%," said Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance.
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.
March 31 is around the corner; don’t invest just to save tax: Harshvardhan Roongta
Harshvardhan Roongta advises on tax-saving investments, emphasizing the importance of insurance coverage and evaluating product merit beyond tax benefits. He highlights key insurances and suggests considering ELSS for tax savings.
25% urban Indians have no life insurance, GenZ least secure financially: Survey
Despite high awareness, term plan ownership is low among urban Indians, shows the Max Life IPQ 6 survey.
Decoding the importance of term insurance at every stage of your life
Term insurance offers financial security and peace of mind at every stage of life. When young and single, it helps build a foundation and secure the financial interests of dependents.
Protect your loved ones with term insurance, life insurance and health insurance policies
Insurance coverage provides peace of mind and financial security for families during medical emergencies. Factors to consider when exploring insurance plans include comparing insurers, locking in young for lower premiums, calculating the needed coverage amount, considering the term length, disclosing medical history, and reviewing the policy annually. When buying whole life insurance, factors to consider include level premiums, a cash value fund, higher upfront costs, a strong insurer, and potential add-ons. When selecting health insurance plans, factors to assess include premium versus deductible, doctor networks, range of choices, extra benefits, and subsidies or cost assistance. ACKO insurance offers term life and health plans that provide affordable, tailored coverage for families.
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