The number of people who avail some quality cover under personal insurance is very low and revenue collection of government is no way going to get affected materially by extending some tax benefit as non-life penetration still stands at a low of 0.7% of GDP and personal insurance would be hardly measurable.
Watch the interview of M Raghavendra Rao, Head - Retail Sales at Future Generali India and Saroj Satapathy, CEO of Ideal Insurance Brokers with Surabhi Upadhyay on CNBC-TV18, in which they shared their views on general insurance and its benefits.
Service tax on health insurance should be removed and tax exemption on health insurance should be hiked.
Though group policies offer health insurance to individuals employed with certain employers, there are reasons why one should buy a policy for himself and his family.
This is an important stage of life. You should treat this stage as an opportunity to review where you stand as against where you intend to go, in terms of your financial goals.
Though it saves on the premium, one should also take due care while buying one for his family.
Many insurance buyers cannot digest the idea of loss of premium if there is no claim. However, it may not be the best way to look at insurance.
Bundled insurance products can offer you ease of purchase along with benefits of lower pricing. But never buy a bundled product just because it is easy to buy, instead buy only if you need one.
Personal accident cover offers coverage in case of accidental disability and accidental death. It ensures a certain lifestyle for the individual covered, in case the earning ability is compromised due to an accident.
While critical illness cover offers lump sum payment to insured, the health insurance policy pays for the hospitalization benefit to the extent of sum assured.
Though there is a rule of thumb to buy at least 10 times life cover, it does not answer all issues pertaining to life insurance purchase. This article highlights other factors that you should keep in mind while buying a life insurance policy
Day care surgeries can result in a substantial outgo of the insured individual. It is better to ensure that they are covered under the health insurance policy you intend to buy.
As compared to the other industries liability, insurance for any foundry is important as they are more susceptible given the challenging environment in which they operate.
Gone are the days when financing was a trouble. Today, if you have an idea, there are millions chasing you!
It should take care of the loans outstanding and money value of financial goals in future