Future Generali India Life Insurance Company has launched a flexible Unit Linked Insurance Plan - Future Generali Wealth Protect. Enhanced protection can be availed through opting for Riders - Accidental Death Benefit, Accidental Total and Permanent Disability Benefit, … [Read more...] about Future Generali launches – Future Generali Wealth Protect
Life Insurance
What is a Nomination?
What is a Nomination? An investor can nominate a person(s) called nominee(s) to whom his/her Mutual Fund Units will be transferred on his / her demise. The investment proceeds will get transferred to the nominee registered on the demise of the Investor. What are the … [Read more...] about What is a Nomination?
Income Tax on life insurance proceed
The general rule is that any amount received by the policy holder from the insurance company, including any bonus on the policy, is totally exempt tax. However, as per Income Tax Act, there are many exception to this rule. Let’s take various Income Tax provisions where … [Read more...] about Income Tax on life insurance proceed
How to pay Insurance Premium by Visa Credit Card?
You must have heard about the bill pay and online insurance premium services, where you have to register your details and as and when the insurance premium due date is coming, you would get the intimation on mobile as SMS or on email. Then you have to log on to bank or bill … [Read more...] about How to pay Insurance Premium by Visa Credit Card?
IDBI Federal Life launches – IDBI Federal Wealthsurance® Premier
IDBI Federal Life insurance Company Limited has launched wealth-building plan - IDBI Federal Wealthsurance Premier Insurance Plan. The new plan single premium ULIP, with a wide array of investment funds and protection benefits bundled in a low charge structure aimed to deliver … [Read more...] about IDBI Federal Life launches – IDBI Federal Wealthsurance® Premier
Material Facts – Facts which need to be disclosed and facts which need not be disclosed?
What is a Material Fact? Any fact which would influence the insurer in accepting or declining a risk or in fixing the premium or terms and conditions of the contract is material and must be disclosed by a proposer, or by the insurer to the insured. Material Facts in other words … [Read more...] about Material Facts – Facts which need to be disclosed and facts which need not be disclosed?
Surrendering your insurance policy, check income tax provisions!
If you have taken deduction u/s 80C of the IT Act for the premium payment, in that case , do not surrender the policy within the three/five years of its purchase. Let’s check the Income Tax provisions on surrender of insurance policy - Case 1 - Surrender of the ULIP, within … [Read more...] about Surrendering your insurance policy, check income tax provisions!
Bharti AXA Life Insurance launches – retirement and child plan
Bharti AXA Life Insurance launches - a retirement plan and a child protection plan - Retirement plan - Bharti AXA Life Wonder Years Retirement Plan Child plan - Bharti AXA Life Bright Stars Power Plus Bharti AXA Life Wonder Years Retirement Plan is a traditional product and … [Read more...] about Bharti AXA Life Insurance launches – retirement and child plan
Insurance company can't deny claim, if the insured did not reveal information about his earlier life insurance policy!
The South Mumbai District Consumer Disputes Redressal Forum has fined an insurance company for causing mental agony to a family by not releasing the amount due to them on grounds that the insured did not reveal information about his earlier life insurance policy. In 2001, Naval … [Read more...] about Insurance company can't deny claim, if the insured did not reveal information about his earlier life insurance policy!
SBI Life launches – Smart Wealth Assure a unit Linked non participating Life Insurance Plan
SBI Life Insurance has launched guaranteed ULIP, it guarantees, at inception, a pre-specified NAV applicable at the end of the ten-year term. By opting for Return Guarantee Fund, the policyholder can create long term investment corpus based on minimum pre-determined NAV or … [Read more...] about SBI Life launches – Smart Wealth Assure a unit Linked non participating Life Insurance Plan