insurance act

Term Insurance – A well-wisher at every hour of life

Finance - Financial planning is a process of meeting the goals of life with the help of proper finance management techniques. This includes elements of wealth creation, planning for certain milestones in your life and the most important of them all – planning for emergencies and contingencies. Term insurance not only offers peace of mind but ...

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Know your General Insurance Rights

Finance - Before you learn about your rights on general Insurance, you need to first understand what exactly general insurance is and how important it is to claim your rights on it. General insurance is a kind of risk management, used primarily to tide over any sudden loss, risk of a contingent and individuals or institutions are […]...

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The role of insurance in staying financially strong

Finance - Insurance is a basic expenditure which you must factor for preventing yourself from costs which you perhaps couldn’t afford in case something goes wrong. Car accidents, medical emergencies, theft, accidental damage, and more could happen. For protecting your finances, and securing the future of your family, it’s best to seek out insur...

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Taxation of maturity proceeds of LIC Wealthplus policy

Finance - Lakhs of people have received their maturity proceeds under LIC Wealthplus Insurance policies during the year ended 31-3-2018 and they have to submit their income tax return on due dates in this year on different dates according to their status....

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Motor Insurance Policy – What all should be Covered?

Finance - For motor vehicle owners in India, not having insurance for their vehicles is not an option. Irrespective of whether a vehicle is personal or commercial, all car owners within the nation are mandated to have at least a minimum level of insurance by law, as clearly specified under the Motor Vehicles Act of 1988. Today, […]...

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Unclaimed Deposits in Banks and Insurance Companies

Finance - (i) All insurers are required to display the information about any unclaimed amount above Rupees 1000/- of Policyholders in their respective web-site. (ii) A facility shall be given in the web-site of the insurer to enable Policyholders / or its dependents to find out whether any unclaimed amounts due to them are lying with the insurer....

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9 Criterias to Assess Performance of Private Insurance Companies

Finance - Performance of private insurance companies are assessed through the following: - i.) Analysis of the financial statements and corporate governance report of the insurance companies on annual basis. ii.) Analysis of the statement of expenses of management and payment of commission on an annual basis....

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Indian women continue to be viewed as supplementary bread earners in families

Finance - A survey, conducted by Apollo Munich Health Insurance in collaboration with Nielsen India Pvt. Ltd. in 19 cities found that despite a rise in health insurance claims filed by women, few women are coming forward to buy health insurance....

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Insurance penetration in India likely to cross 4% this year: ASSOCHAM

Finance - Government’s policy of insuring the uninsured has gradually pushed insurance penetration in the country and proliferation of insurance schemes are expected to catapult this key ratio beyond 4 per cent mark by the end of this year, reveals the ASSOCHAM latest paper....

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Second surveyor can not be appointed by Insurance Companies

Finance - Upholding a district forum order, the Maharashtra State Consumer Disputes Redressal Commission recently dismissed an appeal filed by an insurance firm. The commission ruled against the Oriental Insurance Company after it appointed a second surveyor t...

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Govt. notifies Insurance Ombudsman Rules, 2017

Notification No. G.S.R. 413(E) - (25/04/2017) - These rules shall be called the Insurance Ombudsman Rules, 2017. The objects of these Rules is to resolve all complaints of all personal lines of insurance, group insurance policies, policies issued to sole proprietorship and micro enterprises on the part of insurance companies and their agents and ...

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Recent Posts in "insurance act"

Term Insurance – A well-wisher at every hour of life

Financial planning is a process of meeting the goals of life with the help of proper finance management techniques. This includes elements of wealth creation, planning for certain milestones in your life and the most important of them all – planning for emergencies and contingencies. Term insurance not only offers peace of mind but ...

Read More
Posted Under: Income Tax |

Know your General Insurance Rights

Before you learn about your rights on general Insurance, you need to first understand what exactly general insurance is and how important it is to claim your rights on it. General insurance is a kind of risk management, used primarily to tide over any sudden loss, risk of a contingent and individuals or institutions are […]...

Read More
Posted Under: Income Tax |

The role of insurance in staying financially strong

Insurance is a basic expenditure which you must factor for preventing yourself from costs which you perhaps couldn’t afford in case something goes wrong. Car accidents, medical emergencies, theft, accidental damage, and more could happen. For protecting your finances, and securing the future of your family, it’s best to seek out insur...

Read More
Posted Under: Income Tax |

Taxation of maturity proceeds of LIC Wealthplus policy

Lakhs of people have received their maturity proceeds under LIC Wealthplus Insurance policies during the year ended 31-3-2018 and they have to submit their income tax return on due dates in this year on different dates according to their status....

Read More
Posted Under: Income Tax |

Motor Insurance Policy – What all should be Covered?

For motor vehicle owners in India, not having insurance for their vehicles is not an option. Irrespective of whether a vehicle is personal or commercial, all car owners within the nation are mandated to have at least a minimum level of insurance by law, as clearly specified under the Motor Vehicles Act of 1988. Today, […]...

Read More
Posted Under: Income Tax |

Key Points to the Insurance Audits

CA Amresh Vashisht, Meerut The Insurance auditors shall examine policy and liability procedures, risk valuation, tax documents, and various other financial records of insurance. It is to ensure that proper insurance rates and premiums are implemented and regulators laws are being followed by insurance companies. Claims and commissions are...

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Posted Under: Income Tax |

A Sneak Peek to Individual Health Insurance

It is rightly said, Take care of your body, its the only place you have to live in. Your health needs to be nourished for which it needs to be well taken care of. With the rise in technology, the rise in diseases have also shot up drastically....

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Posted Under: Income Tax |

Reasons Why Every Woman Should Buy a Health Insurance Plan

Smart people take risks while the ignorant ones wait for it. Life is a risky business. You never know when it will hit you harder. So better to be prepared. Women across the world are always perceived as better planners in comparison to their male counterparts....

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Posted Under: Income Tax |

Tax Benefits From LIC Life Insurance Plans (F.Y. 2017-18)

In the cases of persons covered under the above categories having a total income exceeding Rs. 50 Lakh but up to Rs. 1 crore, the income tax as calculated above be increased by a surcharge at the rate of 10 per cent of such income- tax. If such income exceeds Rs. 1 Crore, rate of surcharge will be @15%....

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Posted Under: Income Tax |

The Right Time to Buy Health Insurance in India

Why buy health insurance? In spite of being an important part of the general insurance portfolio, a mediclaim policy isn’t something that every Indian purchases. I fact, less than 10 percent people in India have health insurance, and approximately 72 percent of the Indians are spending out-of-pocket for the health care costs, according ...

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Posted Under: Income Tax |

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