Doubling the insurance industry’s growth rate and aligning products to the changing demography will be the top priority for
TS Vijayan’s successor
Life insurers can provide cash-flow through annuities for old-age financial requirements. For that, the government should issue very
long-term bonds for pension funds to invest
The last quarter is always the most productive for the life insurance sector because during this quarter all concerned work hard to accomplish their respective targets and the potential buyers see long term advantage in the different plans offered by the insurers.
Insufficient life insurance cover and mismanagement of a life insurance contract can ruin the future of your dependents
LIC and other major players have to lead insurers in asset management techniques, product development and cater to those who depend on insurance for meeting their long-term needs.
During the tenure of a life insurance policy, the customer experiences several moments of truth, which must be graced with due empathy. Sadly, the ground reality is far from the desired standards of professional and ethical market conduct.
For financial freedom to be real and meaningful, the tool of insurance needs to be popularised and provided to all citizens with convenience to purchase and maintain.
Life insurance is a long-term contract. Check your insurance company’s reputation, its claim settlement record and whether it has a trained workforce before signing on the dotted line
These days storing data is not an issue and the best use of such data is to analyse them for better decision making and strategising leading to more customer satisfaction and faster growth.
It is necessary for every young person to decide on buying life insurance policies well on time, when he is eligible for maximum life insurance cover on his life.
In developed economies individuals tend to be more self-reliant by adopting various financial tools so that they live their life with dignity and comfort.
IT is commonly believed that life insurance plans are meant for saving on individual taxes. This belief is further reinforced by reports appearing in the media during the last quarter of the financial year when people start thinking about optimising their tax liability through various exemptions allowed by the Income Tax Act.
An insurance repository maintains all policies of an individual in a folder making claims settlement process faster
While I-T Act encourages building a retirement corpus during working life, tax on annuity is a disincentive
Prime Minister Narendra Modi has been vigorously pursuing the agenda of converting the country’s socio-economic landscape into a digital highway for faster and more inclusive growth.
In spite of a long-term contract, the promised services as per the insurance contract are available to policyholders or to their nominees only if the policies are renewed by paying the contracted instalments of premium on or before the due date of renewal.
A life insurance policy can be assigned as a collateral to raise funds or can be given as a gift
Alife insurance policy is a long-term contract between the policyholder and the insurer for financial protection to the dependents if the policyholder dies during the tenure of the policy.
A life protection cover should never be seen as a means to multiply investment into wealth
As a first stage of financial safety and security, a young couple generally go for an endowment policy for themselves.
According to an estimate by Google India, by 2020 more than 200 million Indians are likely to be make purchases and sales online. This will result in making paperless transactions as high in volume as the cash transactions in the economy.
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and the Pradhan Mantri Suraksha Bima Yojana (PMSBY) have been a masterstroke by the NDA government in carrying the benefits of insurance to the common man.
The endowment policy sold by life insurance companies is one of the oldest forms of life insurance products globally.
The finance minister stirred the hornets’ nest when he announced taxing 60% of total EPF withdrawal at the time of maturity unless it is used to buy an annuity product from an insurer. This was the government’s attempt to move the working class towards a pensioned society.
Around the world insurance premium has been attracting some tax relief as a measure of incentive to the general public to voluntarily provide for risk cover on their life, health or property.
Every insurer has to introspect whether it has to move faster than the existing pace, whether it has to achieve better service efficiency or whether it has to bring in cheaper and more customer-friendly products
Two major insurance schemes launched by the government, PMJJBY and PMSBY, changed the marketing of insurance products at the bottom of the pyramid