These three insurers that will be merged have an average of 14,000-16,000 employees and a few thousand will be let go
The LTCG tax burden that is applicable to equity mutual funds does not extend to unit-linked insurance plans.
The report said that the merger of three non-life insurers will aid capital adequacy.
Finance Minister Arun Jaitley today said the world's biggest health cover plan announced in the Budget will be cashless and not a reimbursement scheme, and promised more funds if required depending on the rollout later next financial year.
India market could see a bit of correction in the short term but the market has been correcting in the last one month even though Nifty rose in the same period.
Extending the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJY) and the Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a positive move to bring more people into the insurance ambit, they said.
Recognising the need for term insurance plan will not only create awareness for it and make people realise its importance but also make them buy adequate protection.
Here is a round up of all major developments in the personal finance space during the week.
In an overcrowded 80C limit of Rs 1.5 Lakh, life insurance seems to be struggling for space, experts say.
Bajaj Allianz Life is also slowly moving towards targeting the affluent segment from the mass market space.
If you want to purchase health insurance for a respectable sum which will fetch a good healthcare for you after accounting for inflation of around 12 to 15 per cent, you have to buy a health insurance for yourself.
Insurance want to improve penetration of products by giving tax incentives to customers
In terms of AUMs, we are touching Rs 2.2 lakh crore, which is a 47 percent growth on a year-on-year basis, he said.
In the general insurance space, ICICI Lombard General Insurance and New India Assurance got listed recently.
While the purpose of travel could be business or leisure, they often offer diverse experiences and yet come with a common set of travel risks.
This cover is likely to have basic and premium coverage with a subsidy for those below poverty line