BUSINESS
Four classic insurance traps you must avoid
During the tax-saving season of January-March, many individuals sign up for insurance-cum-investment policies they may not need, only to regret doing so later when they receive renewal notices for premium payment
BUSINESS
Budget 2023: Insurers seek separate tax deduction basket for life policies, higher limit for health premium
Ahead of the budget, insurance companies also want finance minister Nirmala Sitharaman to accept their demand to exempt the principal component of annuities, or pension income from tax
BUSINESS
More than 250 million Indians could have heath insurance policies by 2028
The segment has the potential to grow into a $25 billion market in the next five years, on the back of COVID-led rise in awareness, product innovation and rising disposable income, the investment banking major’s research predicts
BUSINESS
Need Rs 50,000 crore capital infusion every year to double insurance penetration in five years: IRDAI chief
The Insurance Regulatory and Development Authority of India chief urges more conglomerates to enter the insurance space, and companies to bolster their grievance redressal mechanisms
BUSINESS
Explained: Section 80TTB tax break on deposits
BUSINESS
Inflation and high interest rates are here to stay; get used to them: Saibal Ghosh, CIO, Aegon Life Insurance
It’s not just important to invest in equities but also to do it in a systematic way instead of bond and stock picking, Ghosh says
BUSINESS
Budget 2023: Senior citizens want more medical insurance deductions, tax-free pension
Increased cost of healthcare for senior citizens, particularly post COVID-19, warrants a higher deduction limit for premiums as well as routine medical expenses, say financial planners. A higher deduction for interest earned on fixed deposits would also bode well for senior citizens, in Budget 2023.
MCMINIS
Decoded: Tax break on preventive health check-ups
BUSINESS
Budget 2023: What could the FM do to make the new regime attractive to taxpayers?
The new regime has failed to attract taxpayers. Allowing some deductions as part of Budget 2023 announcements may help, but will also mean diluting the USP of the new system – simplicity and lesser paperwork.
BUSINESS
LIC going public, out-patient cover... 7 reforms that changed Indian insurance in 2022
The Insurance Regulatory and Development Authority of India (IRDAI) went on overdrive this year to facilitate ease of doing business, LIC went public, life insurance companies sold guaranteed return products on the back of higher interest rates while health insurers rolled out wellness and OPD benefits.
BUSINESS
What do senior citizens want from Budget 2023? Higher basic exemption and health insurance deduction limits
Increased cost of healthcare for senior citizens, particularly post COVID-19, warrants a higher deduction limit for premiums as well as routine medical expenses, say financial planners.
MCMINIS
Decoded: Prepayment charges on home loans
BUSINESS
Budget 2023: Insurers seek separate tax deduction basket for life policies, higher limit for health premium
Ahead of the budget, insurance companies also want finance minister Nirmala Sitharaman to accept their demand to exempt the principal component of annuities, or pension income, from tax
BUSINESS
How will IRDAI's latest proposal on agent commissions play out for policyholders?
IRDAI has allowed higher agent commissions within the overall expense cap, modifying its August 2022 proposal to drastically cut commissions. Under the new proposal, commissions may not come down, but one can save on premiums by buying policies directly from insurers.
BUSINESS
What are motor insurance add-on covers?
BUSINESS
The big, fat Indian wedding can be insured, but only the rich go for it
Wedding insurance is a relatively untapped market and popular with mainly weddings that cost in excess of around Rs 50 lakh. It covers you against uncertainties beyond your control. But if you get second thoughts about your life partner and call the wedding off, the insurance doesn't offer any solace.
PODCAST
Simply Save | Your guide to picking the right health insurance policy
In this edition of the Simply save podcast, Kapil Mehta - Co-founder and CEO of SecureNow Insurance Brokers - explains how to buy an independent health insurance policy and identify the right plan with the help of Moneycontrol-SecureNow Health Insurance Ratings
MCMINIS
Explained: AYUSH coverage in health insurance
MCMINIS
What are health policies' permanent exclusions?
BUSINESS
World Diabetes Day | Health insurers say yes to diabetics, but higher premiums are a not-so-sweet reality
It’s easier for diabetics to obtain health insurance policies, but not being upfront about your pre-existing conditions could result in rejection of claims
MCMINIS
What are annuity plans?
BUSINESS
MC Explains: Advanced, emerging treatment procedures covered under health insurance policies
From stem cell therapy to oral chemotherapy, insurance companies are mandated to cover certain modern medical procedures. But stringent sub-limits enforced by some insurance companies may serve as a deterrent to a reasonable claim.
BUSINESS
United India Insurance offers a new top-up policy. A Moneycontrol review
Buying a super top-up policy is a simple and cost-effective way of enhancing your health insurance cover. But watch out for the entry age barrier.
BUSINESS
Why policyholders are unhappy with insurance companies
The Mumbai Insurance Ombudsman annual report shows an increase in health insurance complaints in 2021-22, on account of partial claim payout, rejection due to ‘unnecessary’ hospitalisation, amidst other COVID-19 related complaints.
