insurance act

Taxation of maturity proceeds of LIC Wealthplus policy

Income Tax - 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?

Income Tax - 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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Key Points to the Insurance Audits

Income Tax - 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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A Sneak Peek to Individual Health Insurance

Income Tax - 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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Reasons Why Every Woman Should Buy a Health Insurance Plan

Income Tax - 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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Unclaimed Deposits in Banks and Insurance Companies

Income Tax - (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

Income Tax - 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

Income Tax - 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

Income Tax - 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

Income Tax - 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"

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: Finance |

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: Finance |

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...

Read More
Posted Under: Finance |

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....

Read More
Posted Under: Finance |

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....

Read More
Posted Under: Finance |

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: Finance |

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: Finance |

Get a life cover till you reach 100 with Aegon Life iTerm!

Aegon Life Insurance brings you a unique term insurance, a first-of-its-kind product in the country which will provide life cover till you reach the age of 100. Aegon Life iTerm Insurance Plan is intended for individuals seeking financial protection for life, wish to plan a milestone event, a lump sum payout and want to leave […]...

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Posted Under: Finance |

Unit-Linked Insurance Plans (ULIPs) to achieve your Life Goals

ULIPs are dual combination insurance plans that not only give you the life cover but it helps you to save for your future goals.  Most of the wealth plans will ask you to pay premiums for a certain period, once your policy gets over i.e. the end of the policy, they will pay a lump […]...

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Posted Under: Finance |

How much Health Insurance Cover You need to have?

Depending upon the insurance amount, Insurance Company, type of the insurance and other additional taxes you will have to pay the premium. You need to work out on your affordability to pay the premium. ...

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Posted Under: Finance |
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