At 96%, LIC had the highest settlement ratio for death claims under individual death policies by value in FY22, data released by insurance regulator Irdai showed.
NEW DELHI: Finance minister Nirmala Sitharaman on Tuesday kept the income tax slabs unchanged yet again in what was a largely infrastructure-focused budget for the coming financial year.
MUMBAI: Life Insurance Corporation of India has said that its asset base has crossed Rs 38 lakh crore with total investments of Rs 36,76,170 crore and a life fund of Rs 34,36,686 crore as of March 2021.
CHENNAI: Besides its debilitating health impact, Covid is draining the finances of its victims, particularly the uninsured, causing some to get into long-term debt.
Union finance minister Nirmala Sitharaman presented the Union Budget 2021 in Parliament on Monday. The finance minister provided a major boost to healthcare and infrastructure in Union Budget 2021. However, there was no change in Income Tax slabs this year.
BENGALURU: Annual premium on health covers have risen by 40-70% for policyholders after insurance companies hiked rates following a regulatory diktat to widen coverage and standardise conditions with regard to exclusions.
Life Insurance Corporation (LIC), which is set to get listed following the government’s decision to float an initial public offering (IPO), is expected to be the most valuable company in the country. In an interview with TOI, LIC chairman M R Kumar speaks of how the corporation keeps reinventing itself to remain relevant to every generation...
MUMBAI: Life Insurance Corporation (LIC) of India has said that it has settled 561 death claims due to COVID-19 amounting to Rs 26.7 crore. The corporation has also relaxed its norms during the lockdown to allow payment on maturity claims based on email submission of survival benefit requirements and subject to conditions is settling such claims without the policy document.
Chennai/Delhi: Madhusudan’s apartment in Velacherry, a southern suburb in Chennai was sold for Rs 88 lakh, when a similar sized one in another block inside the same complex was picked up for Rs 1.10 crore last November. Prices of resale properties across the country are down 10% to 25% as cash strapped owners, most of whom had picked up their second apartment as an investment, try and liquidate.
NEW DELHI: Finance minister Nirmala Sitharaman on Wednesday announced a 25 per cent reduction in TDS (tax deducted at sources) and TCS (tax collected at source) rate for the current financial year. This will release liquidity worth Rs 50,000 crore.
BENGALURU: The Covid-19 pandemic has dramatically changed what Indians are searching for on Google. Online searches for grocery delivery, immunity, online classes, UPI transactions, and even coronavirus insurance have gone up dramatically this year, according to Google’s latest ‘What is India searching for’ report.
MUMBAI: Not only did a Santa Cruz resident lose his 74-year-old father to Covid-19-related complications, but he was also left with a bill of Rs 16 lakh for his father’s 15-day ICU stay in a city hospital.
Chennai: Rising trade war between US & China has pushed South Korean companies to consider moving some of their factories from China to India.
LONDON: The 2020 edition of the Wimbledon had to be cancelled due to the outbreak of the coronavirus, but The All England Club is set to pocket over £100 million due to the insertion of a virus-related clause in the insurance policy post the SARS outbreak.
BENGALURU: In a major relief for 23 crore individual vehicle owners and 40 crore citizens, who benefit from a private or state health insurance scheme, the ministry of finance has amended the law and extended validity of insurance papers till April 21, 2020.
NEW DELHI: Hit by the lockdown and faced with uncertainty, many people are looking to avail of the repayment relief that banks are offering. Although banks are yet to announce the details of the relief package and how it will work out, we do know that this is only a grace period and they are likely to charge interest for the unpaid amount.
TOKYO: The 2020 Tokyo Olympics have been postponed to no later than the summer of 2021 because of the coronavirus pandemic sweeping the globe, the International Olympic Committee announced Tuesday.
NEW DELHI: India emerged as the world's fifth largest economy by overtaking the UK and France in 2019, says a report.
MUMBAI: With assets under management of Rs 31 lakh crore, Life Insurance Corporation (LIC) continues to expand and plans to hire 17,000 people this year, which will add to the headcount. In an interview with TOI, LIC chairman M R Kumar speaks about the focus areas for the corporation.
NEW DELHI: Vehicle owners will now receive messages from the transport department if their vehicle doesn’t have third party insurance or the policy has expired.
CHENNAI: Friend Assurance feature proposed by health insurance companies will now allow both friends and families to buy a health insurance policy, besides a discount awarded to the healthiest group.
BENGALURU: Lakhs of mediclaim customers are expected to be the first casualty of the government-proposed merger of 10 banks as premiums for most of the customers of the banks which are being merged are set to increase between 50% and 300% from next year.
Do I have enough money to retire? This is the most asked question in retirement planning. When I wrote about the need to take charge in your 40s, friends asked for a method to evaluate whether they have enough. Let’s consider some pointers.
The central bank believes that a reduction in rates on the small savings schemes will enable banks to cut deposit rates that have been sticky as banks do not want to lose out on deposits The rates were left unchanged by the government when they were last reviewed at the end of September
A cut in the repo rate would be immediately transmitted to retail borrowers as the RBI has forced banks to link loans to an external benchmark instead of a self-determined reference rate Most banks have chosen the RBI’s repo as a benchmark, which means that home loans could fall to below 8%
NEW DELHI: The states which recorded the most cases of common cancer in 2018 — Gujarat, Karnataka, Maharashtra, Telangana and West Bengal — also recorded a significant jump in cases as compared to the previous year, according to National Health Profile, 2019 data.
NEW DELHI: Cases of common cancer, including oral, cervical and breast cancer, diagnosed at state-run NCD clinics increased by nearly 324% between 2017 and 2018, according to National Health Profile, 2019 data.
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