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Finance - With monsoon touching almost all parts of the nation, it is bringing the much-needed relief from the summer heat. Monsoon is not only relief from the hot drenching summers but has its share of problems. One such issue that is common across all urban jungles is waterlogging. Clogging of waste and dirt that does not […]...
Read MoreFinance - Buying health insurance is often procrastinated by young and healthy individuals. The primary reason being, while you are young and healthy, no illness can affect you. But, this is not the truth. A health ailment can strike at an inopportune time and has severe financial consequences along with mental stress; sometimes as severe as leavin...
Read MoreFinance - Life insurance is indeed a matter of life and death. As an investor, you must place your trust in the hands of an insurance company to take care of your loved ones when you are gone. The insurer you choose should be reliable and stable enough that you can commit to them for a long-term […]...
Read MoreFinance - Insurance is playing a vital role in our life now days. After this COVID-19 pandemic, we have realized the importance of insurance and government has also provided various facilities to general public to secure their lives and properties from various types of risks. Through insurance we shall reduce the impact of risk insured. The risk m...
Read MoreFinance - Q. How to choose a better health insurance policy? 1. Which plan to choose? Floater Plan (aka Family Plan) Or Individual Plan The difference between the two is that Floater Plan gives one coverage amount for the whole family whereas in Individual Plan every person will get his own coverage amount. Q. When one should […]...
Read MoreFinance - The WG has come up to a conclusion that the MTP Obligation should be a function of number of vehicles insured/uninsured instead of premium derived from motor third party insurance business and accordingly a simple & equitable formula for calculating the MTP Obligation has been proposed....
Read MoreFinance - The Insurance Regulatory and Development Authority of India (IRDAI) has put in place Integrated Grievance Management System (IGMS), which captures the complaints registered against all insurers. A statement showing the number of complaints received and attended to in the said system against both public and private general insurers during ...
Read MoreFinance - (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....
Read MoreFinance - 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....
Read MoreFinance - 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....
Read MoreMax Life Insurance Company Ltd. Vs DCIT (ITAT Delhi) - Max Life Insurance Company Ltd. Vs DCIT (ITAT Delhi) The issue under consideration is whether assessee is liable for exemption u/s 10(34) of the Act without disallowing any expenditure under section 14A? ITAT noted that this issue is duly covered by decision of Mumbai Bench of this Tribunal in case ...
Read MoreRef: IRDAI/Life/Grace Period - (09/05/2020) - As the lockdown has been further extended up to 17th May 2020, keeping in view the difficulty faced by some policyholders to renew the policies in time, the Authority has now allowed extended grace period up to 31st May 2020 for all policies where premium was due in the month of March 2020....
Read MoreRef. No: IRDA/F&A/CIR/MISC/099/04/2020 - (24/04/2020) - Insurers are urged to take a conscious call to refrain from dividend pay-outs from profits pertaining to the financial year ending 31st March 2020, till further instructions....
Read MoreG.S.R. 262(E) - (23/04/2020) - To facilitate general public to easily fulfil Know Your Customer (KYC) norms while availing insurance services, IRDAI has recommended for allowing insurance companies to avail Aadhaar Authentication Services of the Unique Identification Authority of India....
Read MoreRef: IRDA/RI/CIR/MISC/97/04/2020 - (22/04/2020) - On the basis of the submissions made by Cross Border Reinsurer (CBR) and recommendations of the insurers, the Authority has granted approval to the below mentioned CBR’s , who do not fulfil stipulated eligibility criteria....
Read MoreNotification No. S.O. 1259(E) / Circular No. Ref: IRDAI/HLT/ CIR/MISC/091 /04/2020 - (15/04/2020) - The policy holders whose health insurance policies fall due for renewal during the period on and from the 25th March, 2020 up to the 3rd May, 2020 and who are unable to make payment of their renewal premium on time in view of the prevailing situation in the country as a result of Corona Virus disea...
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Max Life Insurance Company Ltd. Vs DCIT (ITAT Delhi) -
Ref: IRDAI/Life/Grace Period - (09/05/2020) -
