Finance : Section 10(10D) provides exemption only when premium limits are within prescribed thresholds. If premiums exceed these limits, mat...
Finance : The article highlights the need for integrated travel and health insurance to manage both medical emergencies and trip disruptions...
Income Tax : Even where premium limits are exceeded, death benefits continue to be fully exempt. This ensures protection for beneficiaries. The...
Finance : Cyber insurance helps cover financial losses from cyberattacks like hacking and data breaches. It is becoming essential as digital...
Finance : The restoration feature ensures that insurance coverage can be reinstated after a major claim, helping maintain protection for oth...
Corporate Law : IRDAI formed a sub-committee to review private health insurance and improve policyholder experience. The initiative focuses on exp...
Corporate Law : The issue concerns identification of systemically important insurers. The regulator retained the same entities, emphasizing their ...
Corporate Law : IRDAI directs insurers to follow anti-dark pattern guidelines and submit compliance reports. The move strengthens consumer protect...
Corporate Law : The Government clarified that claim rejections are based on policy conditions like exclusions and OPD classification. IRDAI mandat...
Corporate Law : IRDAI is moving towards adopting Ind AS to standardize financial reporting across insurers. The framework aims to improve transpar...
Corporate Law : Supreme Court held that insurers impleaded as parties can raise all grounds, including quantum challenges. It remitted the case fo...
Income Tax : The SC upheld that reinsurance premiums paid to foreign entities are not taxable in India. It confirmed that absence of income acc...
Income Tax : The High Court held that reinsurance premiums paid to non-residents are not taxable in India and no TDS is required. It upheld Tri...
Corporate Law : SC affirmed a fire insurance claim after insurer attempted repudiation based on an arbitrary surveyor's report. Ruling held that o...
Corporate Law : Supreme Court rules pre-2015 life insurance policies were freely transferable, affirming High Court's decision against LIC's refus...
Corporate Law : IRDAI delegates Section 34 powers between Whole Time Members and Chairperson. The move aims to streamline enforcement actions and ...
Corporate Law : The notification addressed mandatory reinsurance cession for general insurance policies. It mandates 4% cession to GIC Re, ensurin...
Corporate Law : The issue was the need to address increasing cyber risks in the insurance sector. IRDAI introduced updated guidelines with enhance...
Corporate Law : The circular shifts SLAs from a renewal-based licensing system to a registration regime with annual fees. This ensures continuity ...
Corporate Law : IRDAI constituted a Joint Expert Group to tackle transition and implementation issues under Ind AS. The group will guide insurers ...
J&K High Court rules motor insurance typically excludes gratuitous passengers, shifting compensation liability to the vehicle owner, with courts sometimes ordering insurers to pay and recover.
The NCDRC ruled that an insurance policy’s grace period starts from the electronic clearing system (ECS) dishonour date, not the premium due date, holding LIC liable for a death claim.
Learn how critical illness riders in insurance offer extra coverage, types of riders available, and key terms like waiting period, exclusions, and payouts.
Learn about the indisputable clause in Indian insurance policies, including Section 45 of the Insurance Act, 1938. Understand how it limits an insurer’s ability to challenge a policy after three years, focusing on fraud and material misrepresentation.
IRDAI releases a draft proposing an Internal Insurance Ombudsman for insurers. This aims to enhance grievance redressal for claims up to Rs. 50 lakh and improve policyholder trust.
IRDAI clarifies that foreign reinsurer branches and Lloyd’s India must maintain all collected records, including electronic, within India as per new regulations.
Summary: Under the Income Tax Act, individuals can claim tax deductions on insurance premiums, offering relief while ensuring financial protection. Premiums paid on life insurance policies qualify for deduction under Section 80C, up to a limit of ₹1.5 lakh annually, including other eligible investments, but only under the old tax regime. Health insurance and Mediclaim […]
IRDAI issues second list of eligible trainee surveyors for the September 2025 pre-licensing exam. Discrepancy emails accepted until 10 July 2025.
IRDAI imposes a Rs. 1 crore penalty on Edelweiss Life Insurance for corporate governance and outsourcing regulation violations after an inspection.
The joy, anticipation, and planning that accompany pregnancy are unmatched. But amid all the excitement, it’s easy to overlook one important aspect: the financial preparation for medical expenses.
