BUSINESS
Health, inflation, spouse’s well-being top retirees’ concerns: ICICI Pru Life Insurance study
On an average, Indians say Rs 65.4 lakh is an ideal retirement corpus. Not surprisingly, Indians prefer to bank on assured return instruments and those that promise regular income post-retirement.
BUSINESS
Spending on health insurance tilts towards the family’s breadwinner, traditionally male, but that is changing: New India Assurance Chief
Female customers make up 45-48 percent of those covered by New India Assurance’s health insurance policies today, says Neerja Kapur, Chairperson and Managing Director.
BUSINESS
LIC’s Jeevan Azad: Should you buy a traditional endowment policy with assured returns?
Guaranteed, tax-free maturity proceeds may sound inviting but low rate of return is a dampener for Jeevan Azad, as is the case with most non-participating, guaranteed endowment plans
MCMINIS
Decoded: IRDAI’s diktat on mental health coverage
BUSINESS
A health insurance policy that locks your premiums till you make a claim
Niva Bupa launches a health policy that allows you to carry forward your unutilised sum assured and locks your premium at the age you buy the policy
BUSINESS
Six income-tax exemptions that even the new tax regime allows
The new tax regime is a minimal tax break system, but not entirely exemption-free. It offers benefits on employers’ contribution to NPS, life insurance maturity proceeds, and so on.
BUSINESS
RBI rate hike: Make part-prepayments, increase EMIs to cushion interest rise impact
Vipul Patel, founder of Mortgageworld, says interest rate hikes will be limited to 50 basis points in 2023 and rates will start coming down 15-18 months from now.
BUSINESS
RBI repo rate hike: Make part-prepayments, increase EMIs to cushion interest rise impact | Simply Save
Home loan interest burden is set to increase post the RBI’s repo rate hike of 25 basis points. Consequently, EMI per lakh have risen 20-25 percent since the start of this rising rate cycle. Vipul Patel, founder at Mortgageworld, tells you how borrowers can now take some steps to reduce the total interest payable over the loan tenure, in this podcast. Tune in!
MCMINIS
What is insurance density?
BUSINESS
Indians now know the importance of health insurance but continue to be underinsured: Niva Bupa Health CEO
Krishnan Ramachandran highlights that not enough millennials buy health insurance. This segment, he adds, is one of his target areas in the next few years.
MCMINIS
Can NRIs claim rebate under the new tax regime?
BUSINESS
Why are you investing in National Pension Scheme? PFRDA wants to know
The Pension Fund Regulatory and Development Authority of India is looking to analyse the demographics and investment preferences of existing NPS subscribers.
BUSINESS
Increase home loan EMIs or tenure: What should borrowers do?
Existing home loan borrowers have two options to cope with rising interest rates. Increasing the tenure doesn’t burden your monthly outgo, but banks might not allow it if the repayment period goes past your retirement age
BUSINESS
The ultimate guide that helps you choose between new and old income-tax regime
The all-new and improved new income-tax regime has got more attractive, post Budget 2023. Salaried individuals can switch between the two tax regimes every year after estimating their tax liability. But businesspersons and professionals can switch to the old regime and back once.
BUSINESS
Budget 2023: Earning between Rs 5 lakh and 7 lakh? Here's how much you will save
Strap: Under the new tax regime, those earning salaries of up to Rs 7 lakh will not have to pay any tax. Likewise, those claiming deductions of at least Rs 2 lakh will not have to pay any tax under the old regime either.
BUSINESS
Earning Rs 10 lakh per annum? Higher deductions will mean more savings under the old tax regime
Budget 2023: An individual with a gross salary of Rs 10 lakh claiming Section 80C and other deductions of Rs 4.75 lakh will pay income tax of Rs 18,200 under the old tax regime.
BUSINESS
Budget 2023 | Old vs new tax regimes: Who should make the switch?
High networth individuals could find new tax regime beneficial, while people in the lower and middle income brackets who claim multiple deductions could still be better off with the older tax regime
BUSINESS
Budget 2023: Is the Rs 7-lakh tax-free income limit only for the new tax regime?
Finance Minister Nirmala Sitharaman also lowered tax rates and allowed more exemptions to make the new regime more appealing to taxpayers
BUSINESS
New slabs, more rebate — 5 big personal income tax changes in Budget 2023
In a major boost to the new income tax regime, Budget 2023 increases rebate and exemption limits, rejig tax slabs and reduces tax slabs.
BUSINESS
New income tax slabs, hike in rebate: 5 big personal income tax changes in Budget 2023
All the major Budget 2023 income tax changes that were announced by Finance Minister Nirmala Sitharaman today
BUSINESS
Budget 2023 | Pension income should be made tax-free, says Bajaj Allianz Life CEO
Changes introduced by the regulator will allow insurance companies to be more flexible in terms of offering products to customers
BUSINESS
HDFC Bank viral video: Four classic insurance traps you must avoid
HDFC Bank official's unruly behaviour during an internal meeting with his junior colleagues, as recorded in a viral video, is symptomatic of the larger insurance mis-selling issue, which is rampant across the insurance distribution space. Many individuals end up buying insurance-cum-investment policies they may not need, only to regret doing so later when they receive renewal notices for premium payment. Bank relationship managers and agents have many tricks up their sleeves to sell insurance policies that may not suit your profile, but vigilance on your part can ensure that you steer clear of mis-selling traps.
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
