What is Schengen Visa? A Schengen visa is a short-stay visa allowing visitor to travel and stay in the Schengen Area. The Schengen area covers 26 countries (‘Schengen States’) without internal border controls. These countries are: Types of Schengen Visa? 1. Airport transit … [Read more...] about Applying Schengen Visa, Buy Travel Insurance from following companies?
Sometime the policyholder finds the policy terms not suitable (eg. High Premium Amount, Change in Mode of Premium) to him and desires to change them. LIC India allows certain types of alterations during the lifetime of the policy. What all alterations are allowed to your LIC … [Read more...] about How to Alter LIC Policy?
The IRDAI, in its draft circular on third-party motor insurance premium, proposed a premium hike in the range of 10-29% from 1st April 2016. What is third-party insurance? Third-party insurance is mandatory for all motor vehicles in India. The premium of motor third-party … [Read more...] about Motor Third Party Insurance Premium Set to Increase
Process Steps: The process steps of becoming a licensed insurance surveyor: 1. Registering on IRDAI BAP Portal To acquire a surveyor license, the first step is to register yourself on the IRDAI BAP portal. After successful registration, you can apply for a training request. … [Read more...] about How to become Insurance Surveyor and Loss Assessor (SLA) in India?
Insurance company shall deduct Tax at Source (TDS) at the rate of 20% in excess of Rs 20,000/- paid during the financial year. Now as per Budget 2015-16, the threshold for TDS on insurance commission has been reduced from Rs.20,000 to Rs.15,000 and TDS on the same has been … [Read more...] about Threshold for TDS on Insurance Commission Now reduced from Rs.20,000 to Rs.15,000
1. New health protection scheme will provide health cover up to One lakh per family. For senior citizens an additional top-up package up to 30,000 will be provided. 2. General Insurance Companies owned by the Government to be listed in the stock exchanges. 3. Exemption of … [Read more...] about Budget 2016 – Changes to Insurance Industry
LIC India provide you 30 days (30 days if mode of payment is Yearly/Half-yearly/Quarterly and 15 days if the mode is monthly) grace period to make policy premium payment without paying any additional charges. But if you have crossed 30 days you need to pay policy revival late … [Read more...] about How to Calculate Late Payment Fee for delayed LIC Premium?
The life insurance policy purchased in India will cover death that occurs anywhere in the world. The life insurance policies taken as a resident in India can continue even after moving abroad and becoming an NRI. It is not necessary to submit below documents but helpful in case … [Read more...] about Going Abroad Permanently : (NRIs) How to update Your LIC Policy Record?
You can change the LIC Branch of your LIC Policy by three methods: 1. By Visiting Current Branch: You can go directly go to the nearest LIC branch with the application and photocopy of the LIC policy. This is a new facility by LIC India. 2. By Email: You can also send a mail … [Read more...] about How to Change LIC Branch for your LIC policies?
In case the life insurance policies assigned in favour of financial institution, the claim would be paid after 3 months of commencement, the claim would be admissible to the extent of the amount of the loan or actual sum assured, which ever is less, provided such notice of … [Read more...] about How Claim Paid in Assigned Life Insurance Policies?