Income Tax : Even where premium limits are exceeded, death benefits continue to be fully exempt. This ensures protection for beneficiaries. The...
Income Tax : A clear breakdown of when TDS applies to life insurance payments, threshold limits, rates, exemptions, and how income is computed ...
Finance : Discover why ULIPs offer better returns, flexibility, and dual benefits compared to tradition-al savings plans, making them ideal ...
Income Tax : Learn about the proposed tax changes for ULIPs under Finance Bill 2025, including capital gains taxation, exemption limits, and ap...
Income Tax : Finance Bill 2025 clarifies tax implications on ULIP redemption, ensuring consistent tax treatment for both ULIP and other life in...
Corporate Law : IRDA has twin objectives of development of the industry as well as protection of the policyholder. Both the objectives are interli...
Finance : Life Insurance Corporation of India today launched 'Samridhi Plus' under its unit linked portfolio offering insurance protection, ...
Income Tax : The Life Insurance Corporation of India has made a strong case for continuing tax breaks on life insurance policies bought with an...
Finance : Union Finance Minister, Shri Pranab Mukherjee has asked the insurance companies to create awareness among the poor and vulnerable ...
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...
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...
Corporate Law : IRDA has twin objectives of development of the industry as well as protection of the policyholder. Both the objectives are interli...
Corporate Law : CIRCULAR NO. IRDA/ACTL/ULIP/124(2)/10/2010, DATED 27-10-2010 This has reference to the following circulars & regulation issued...
Corporate Law : The Insurance Regulatory and Development Authority (Irda) has suspended sale of universal life policies, which were being promoted...
Corporate Law : Life Insurance Corporation of India has introduced its ULIP plan under the new IRDA regime, following the launch of its Pension Pl...
Corporate Law : The new rules of the Insurance Regulatory and Development Authority (Irda) take effect from September 1. Ulips, which contributed ...
Insurance regulator Irda on Monday said Ulip-holders will have to pay up to Rs 6,000 if they want to discontinue a policy within the first four years. The Irda (treatment of discontinued linked insurance policies) regulation, 2010, released by the sectoral watchdog today, said the charges for discontinuation of Ulips will range from Rs 1,000 to Rs 6000, depending on the premium paid by the policyholder.
The government will bring a bill in the monsoon session to seek Parliament’s sanction for the ordinance it issued to end the dispute between Irda and Sebi over regulation of unit-linked plans, or Ulips, of insurance companies. “The ordinance was approved at the highest level by the Cabinet and we are preparing to introduce the bill,” said a senior finance ministry official.
The controversy surrounding the regulation of unit-linked insurance policies (Ulips) has failed to deter investors from holding on to their products or even getting new ones. At least the service tax collections from the product during April-May this fiscal bears testimony to the Ulip’s undeniable popularity. Service tax collections during the April-May is almost double the amount realised during the same period last year.
The recent changes made to unit-linked insurance plans are going to pinch the agents that sell these insurance products the most.With the new cap on the charge during the term of the policy, agents are set to see a significant 500-600 basis points fall in commissions.
Introduction:IRDA has, from time to time, taken various initiatives for protecting the interests of policyholders by bringing out Regulations, Guidelines, Circulars etc applicable to insurers and intermediaries covering the various stages in the lifecycle of an insurance product, commencing from solicitation, sale, policy servicing, to claims servicing and grievance redressal.
Policy holders of Unit Linked Insurance Plans (ULIPs), who wish to pre-maturely withdraw, can now be glad as their investment will soon have some protection. The Insurance Regulatory and Development Authority (IRDA) are planning to limit cut in yield from the 6th year (of the policy) beyond, according to reliable sources.
The tug of regulatory war over unit linked insurance plans (ULIPs) has ended with regulatory regime to be retained with insurance regulatory body (IRDA). The Central Government has promulgated an Ordinance (legislation) to the effect that ULIPs shall be regulated by IRDA only, thus ending the ongoing claims by both regulators- SEBI and IRDA to regulate the ULIP schemes.
After winning the turf war with market watchdog Sebi on ULIPs, insurance regulator Irda on Monday said it would frame new guidelines for these products to make them more attractive for policy holders. “Certainly, yes,” Insurance Regulatory and Development Authority chairman J Hari Narayan told PTI when asked whether the insurance regulator would unveil new guidelines for unit-linked insurance policies to make them attractive for investors.
The Centre has amended as many as four laws to take the controversial unit-linked insurance plans (ULIPs) out of an ugly courtroom spat between the stock market regulator and the insurance regulator.And now, the Insurance Regulatory and Development Authority (IRDA) appears set to overhaul ULIP guidelines, industry sources said on Sunday.
As the row over investment-cum-insurance product came to an end, life insurers got another big relief on pension plans, which now would come with minimum guarantee. Recently, the Insurance Regulatory and Development Authority (IRDA) had proposed a mandatory life cover with pension products, which had created an uproar in the industry.
