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Taxation of ULIP and LIC- Part II

Income Tax : Explore the taxation of ULIP and LIC maturities under the Income Tax Act in India. Learn about capital gains, computation, and tax...

April 9, 2024 1152 Views 1 comment Print

Taxation of ULIP and LIC – Part I

Income Tax : Through a comprehensive exploration of ULIP & LIC taxation under the Income Tax Act, readers will gain valuable insights into opti...

April 7, 2024 19506 Views 6 comments Print

Reasons Why Single People Need to Consider ULIP

Finance : Discover the benefits of ULIP as an investment plan for singles. Learn how it combines insurance and investing to help you achieve...

February 28, 2024 792 Views 0 comment Print

5 Tax saving investments with wealth creation for salaried person

Income Tax : Explore the best tax-saving investment options in India, including PPF, NPS, ULIPs, ELSS, and Tax Saving Fixed Deposits. Learn how...

January 15, 2024 4437 Views 0 comment Print

All About Taxation of Life Insurance Policies, ULIP & Keyman Policy

Income Tax : Navigate the complex tax implications of life insurance policies, ULIPs, and Keyman policies. Uncover the latest changes introduce...

April 5, 2023 5754 Views 1 comment Print


Latest News


IRDA – Calling applications for Offline Agents Training Institutes

Corporate Law : IRDA has twin objectives of development of the industry as well as protection of the policyholder. Both the objectives are interli...

December 8, 2011 1313 Views 0 comment Print

LIC launches Samridhi Plus under Ulip portfolio

Finance : Life Insurance Corporation of India today launched 'Samridhi Plus' under its unit linked portfolio offering insurance protection, ...

February 27, 2011 1000 Views 0 comment Print

DTC: LIC wants tax breaks on policies primarily used for investment rather than protection retained

Income Tax : The Life Insurance Corporation of India has made a strong case for continuing tax breaks on life insurance policies bought with an...

September 3, 2010 1041 Views 0 comment Print

FM Addresses Global Insurance Summit at Mumbai

Finance : Union Finance Minister, Shri Pranab Mukherjee has asked the insurance companies to create awareness among the poor and vulnerable ...

September 2, 2010 459 Views 0 comment Print

DTC : Annual deduction raised to Rs. 1.5 lakh

Income Tax : Under the DTC Bill, the annual deduction has been raised to Rs. 1.5 lakh. From the bill It appears that investments in PPF, PF, N...

August 31, 2010 2035 Views 0 comment Print


Latest Judiciary


Unit Linked Insurance Plan (ULIP) redemption taxable as capital gain

Income Tax : Explore a detailed analysis of ITAT Delhi ruling on Subhash Tandon Vs ITO, which sheds light on taxability of ULIP redemption as c...

September 12, 2023 8430 Views 0 comment Print


Latest Notifications


IRDA – Calling applications for Offline Agents Training Institutes

Corporate Law : IRDA has twin objectives of development of the industry as well as protection of the policyholder. Both the objectives are interli...

December 8, 2011 1313 Views 0 comment Print

Insurance- Group Products under Linked platform – Compliance with recent Circulars and Regulation on Unit Linked Products (ULIPs)

Corporate Law : CIRCULAR NO. IRDA/ACTL/ULIP/124(2)/10/2010, DATED 27-10-2010 This has reference to the following circulars & regulation issued...

November 13, 2010 579 Views 0 comment Print

IRDA suspends sale of universal life policies and will not allow sale of single-premium products under ULIPs

Corporate Law : The Insurance Regulatory and Development Authority (Irda) has suspended sale of universal life policies, which were being promoted...

October 24, 2010 343 Views 0 comment Print

LIC launches Endowment Plus Policy- ULIP plan under the new IRDA regime

Corporate Law : Life Insurance Corporation of India has introduced its ULIP plan under the new IRDA regime, following the launch of its Pension Pl...

September 23, 2010 327 Views 0 comment Print

New ULIP norms applicable from 1st September 2010 are beneficial for policyholders

Corporate Law : The new rules of the Insurance Regulatory and Development Authority (Irda) take effect from September 1. Ulips, which contributed ...

August 31, 2010 1902 Views 0 comment Print


IRDA – Calling applications for Offline Agents Training Institutes

December 8, 2011 1313 Views 0 comment Print

IRDA has twin objectives of development of the industry as well as protection of the policyholder. Both the objectives are interlinked and unless the policyholders’ interests are protected the industry cannot achieve the required penetration. The policyholder protection acquires much more significance for IRDA as the rural population is either totally illiterate or financially illiterate. The role of the agent becomes crucial in educating the rural policyholders about the features of the product and the consequences of taking certain protection and not taking certain protections from the insurance. Further, the agents are supposed to educate the policyholders about the risks involved in complex products like ULIPs.

LIC launches Samridhi Plus under Ulip portfolio

February 27, 2011 1000 Views 0 comment Print

Life Insurance Corporation of India today launched ‘Samridhi Plus’ under its unit linked portfolio offering insurance protection, safety and growth. Samridhi Plus safeguards policyholders’ investment from market fluctuations, LIC said in a statement here.

Insurance- Group Products under Linked platform – Compliance with recent Circulars and Regulation on Unit Linked Products (ULIPs)

November 13, 2010 579 Views 0 comment Print

CIRCULAR NO. IRDA/ACTL/ULIP/124(2)/10/2010, DATED 27-10-2010 This has reference to the following circulars & regulation issued by the Authority: 1. IRDA/ACT/CIR/ULIP/102/06/2010, dated June 28, 2010 2. IRDA/Actl/Cir/ULIP/124/08/2010, dated 4th August, 2010 3. IRDA (Treatment of discontinued Linked Insurance Policies) Regulations, 2010. In the life insurance industry, group linked products could be broadly categorised into two, viz., fund-based […]

IRDA suspends sale of universal life policies and will not allow sale of single-premium products under ULIPs

October 24, 2010 343 Views 0 comment Print

The Insurance Regulatory and Development Authority (Irda) has suspended sale of universal life policies, which were being promoted as an alternative to unit-linked insurance plans, from October 23. Sales have been suspended until the final guideline

LIC launches Endowment Plus Policy- ULIP plan under the new IRDA regime

September 23, 2010 327 Views 0 comment Print

Life Insurance Corporation of India has introduced its ULIP plan under the new IRDA regime, following the launch of its Pension Plus which is the first Unit-linked Pension Plan under the new regime.Endowment Plus is LIC’s 14th plan approved and the C

DTC: LIC wants tax breaks on policies primarily used for investment rather than protection retained

September 3, 2010 1041 Views 0 comment Print

The Life Insurance Corporation of India has made a strong case for continuing tax breaks on life insurance policies bought with an investment objective. Referring to the Direct Tax Code proposal that extends tax-breaks to only those policies that have a sum insured of at least 20 times the premium paid, LIC chairman TS Vijayan said the important thing was that life insurance investments were long-term and protection-oriented.

FM Addresses Global Insurance Summit at Mumbai

September 2, 2010 459 Views 0 comment Print

Union Finance Minister, Shri Pranab Mukherjee has asked the insurance companies to create awareness among the poor and vulnerable section of the society especially the people living in rural areas so that they can avail the benefits of financial services. He further said that they may be informed about the benefits of the life insurance and insurance against natural calamities.

New ULIP norms applicable from 1st September 2010 are beneficial for policyholders

August 31, 2010 1902 Views 0 comment Print

The new rules of the Insurance Regulatory and Development Authority (Irda) take effect from September 1. Ulips, which contributed 80 per cent of the total premium collected by private companies, will see a dramatic change. Irda has capped the difference between net and gross yields during the policy term. Insurers will have to offer a minimum prescribed return even if a policyholder withdraws from the fund before maturity. For the fifth year, the cap is fixed at four per cent.

DTC : Annual deduction raised to Rs. 1.5 lakh

August 31, 2010 2035 Views 0 comment Print

Under the DTC Bill, the annual deduction has been raised to Rs. 1.5 lakh. From the bill It appears that investments in PPF, PF, NPS, pure life insurance policies, savings schemes as notified by the government are eligible for this deduction under EEE category.

IRDA has no plans to cap charges and assures on approving new ULIPS on time

August 26, 2010 484 Views 0 comment Print

The regulator, IRDA has no plans to cap charges on traditional products and also assures on approving new ULIPS on time. The Insurance Regulatory and Development Authority (IRDA) has said it has no plans to cap the charges levied by life insurance companies on traditional products. The regulator also assured it would approve new unit-linked insurance plans (Ulips) on time so that insurers could sell them from September 1 onwards.