Life Insurance Policies
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LIC Ordered To Pay Rs 50 Lakh For Covid Policy Premium Payer's Family
A district-level consumer disputes commission in Kerala has ordered Life Insurance Corporation (LIC), India's largest insurer, to pay Rs 50 lakh in compensation to the family of a policy premium payer who succumbed to COVID-19, citing the insurer's t
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Policy Loan Facility Mandatory In Life Insurance Savings Products: IRDAI
Regulator Irdai on Wednesday said the facility of policy loan is now mandatory in all life insurance savings products, enabling policyholders to meet liquidity requirements.
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New Guidelines For Tax Exemptions On High-Premium Life Insurance Policies
The Income Tax department has prescribed a mechanism for calculating income proceeds from life insurance policies where aggregate annual premium exceeds Rs 5 lakh.
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How To Calculate Income From Life Insurance Where Premium Exceeds Rs 5 Lakh, CBDT Explains
The Income Tax department on Wednesday prescribed a mechanism for calculating income proceeds from life insurance policies where aggregate annual premium exceeds Rs 5 lakh.
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Insurers Praise Move To End Credit Card Repayment For Loans On Insurance
Regulator Irdai's decision to bar repayment of loans taken against life insurance policies through credit cards is a good move and will prevent policyholders from falling into a debt trap, according to insurers.
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Centre Unlikely To Withdraw Tax Plan On High-Value Life Insurance: Report
The move, which will come into effect for policies issued from April 1, has rattled insurers, with top company executives meeting Finance Minister Nirmala Sitharaman and finance ministry officials to petition them to reconsider the proposal.
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Life Insurance Maturity Sum With Over Rs 5 Lakh Premium To Be Taxed
An individual will have to pay tax on the maturity amount of life insurance policies where the aggregate annual premium exceeds Rs 5 lakh, according to a Budget proposal presented on Wednesday.
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2 Cyber Thieves Dupe Elderly Man Of Rs 2.67 Crore, Arrested After 2 Years
The Noida Police has arrested two people, allegedly involved in duping a senior citizen of Rs 2.67 crore on the pretext of renewing his life insurance policy, almost two-and-a-half-year after the case was lodged, officials said on Monday.
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Ministry Asks Banks To Cease From Using Unethical Practices To Sell Insurance Policies
The Department of Financial Services has received complaints that fraudulent and unethical practices are adopted by banks and life insurance companies for procuring policies from the bank customers.
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Why Is Life Insurance Important For Long-Term Financial Planning?
A life insurance plan is an ideal financial product to invest in as part of your financial planning.
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Turkish Man Sentenced To 30 Years In Prison For Killing Pregnant Wife For Insurance Money
A Turkish man was given a life sentence for shoving his pregnant wife off a cliff in order to cash in on her life insurance policy.
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Legal Heir Can't Seek Details Of LIC Policy: Information Commission
The CIC's order came in connection with an appellant filing an appeal under the Right to Information Act, 2005 before the Central Public Information Officer (CPIO), Life Information Corporation of India (LIC), Chhattisgarh.
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From Toll Tax To LPG Price: Various Rules Set To Change From Tomorrow
The change of month is set to bring a host of updates on various policies and rules that affect the life of a common citizen.
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LIC Net Profit Jumps To Rs 683 Crore On Record Policy Sales
Driven by a record premium income, Life Insurance Corporation in its maiden earnings after going public has reported a multi-fold jump in net profit at Rs 682.89 crore from the paltry Rs 2.94 crore a year ago.
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LIC's Public Offer Subscribed 1.79 Times On 5th Day Of Issue: 10 Points
The initial public offer (IPO) of Life Insurance Corporation (LIC) was subscribed 1.79 times on the fifth day of subscription on Sunday, May 8, 2022. Government plans to raise Rs 21,000 crore through the public issue and the insurance behemoth has unleashed a major awareness blitzkrieg, exhorting policy holders, employees as well as the general pub...
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LIC Ordered To Pay Rs 50 Lakh For Covid Policy Premium Payer's Family
A district-level consumer disputes commission in Kerala has ordered Life Insurance Corporation (LIC), India's largest insurer, to pay Rs 50 lakh in compensation to the family of a policy premium payer who succumbed to COVID-19, citing the insurer's t
-
Policy Loan Facility Mandatory In Life Insurance Savings Products: IRDAI
Regulator Irdai on Wednesday said the facility of policy loan is now mandatory in all life insurance savings products, enabling policyholders to meet liquidity requirements.
-
New Guidelines For Tax Exemptions On High-Premium Life Insurance Policies
The Income Tax department has prescribed a mechanism for calculating income proceeds from life insurance policies where aggregate annual premium exceeds Rs 5 lakh.
-
How To Calculate Income From Life Insurance Where Premium Exceeds Rs 5 Lakh, CBDT Explains
The Income Tax department on Wednesday prescribed a mechanism for calculating income proceeds from life insurance policies where aggregate annual premium exceeds Rs 5 lakh.
-
Insurers Praise Move To End Credit Card Repayment For Loans On Insurance
Regulator Irdai's decision to bar repayment of loans taken against life insurance policies through credit cards is a good move and will prevent policyholders from falling into a debt trap, according to insurers.
-
Centre Unlikely To Withdraw Tax Plan On High-Value Life Insurance: Report
The move, which will come into effect for policies issued from April 1, has rattled insurers, with top company executives meeting Finance Minister Nirmala Sitharaman and finance ministry officials to petition them to reconsider the proposal.
-
Life Insurance Maturity Sum With Over Rs 5 Lakh Premium To Be Taxed
An individual will have to pay tax on the maturity amount of life insurance policies where the aggregate annual premium exceeds Rs 5 lakh, according to a Budget proposal presented on Wednesday.
-
2 Cyber Thieves Dupe Elderly Man Of Rs 2.67 Crore, Arrested After 2 Years
The Noida Police has arrested two people, allegedly involved in duping a senior citizen of Rs 2.67 crore on the pretext of renewing his life insurance policy, almost two-and-a-half-year after the case was lodged, officials said on Monday.
-
Ministry Asks Banks To Cease From Using Unethical Practices To Sell Insurance Policies
The Department of Financial Services has received complaints that fraudulent and unethical practices are adopted by banks and life insurance companies for procuring policies from the bank customers.
-
Why Is Life Insurance Important For Long-Term Financial Planning?
A life insurance plan is an ideal financial product to invest in as part of your financial planning.
-
Turkish Man Sentenced To 30 Years In Prison For Killing Pregnant Wife For Insurance Money
A Turkish man was given a life sentence for shoving his pregnant wife off a cliff in order to cash in on her life insurance policy.
-
Legal Heir Can't Seek Details Of LIC Policy: Information Commission
The CIC's order came in connection with an appellant filing an appeal under the Right to Information Act, 2005 before the Central Public Information Officer (CPIO), Life Information Corporation of India (LIC), Chhattisgarh.
-
From Toll Tax To LPG Price: Various Rules Set To Change From Tomorrow
The change of month is set to bring a host of updates on various policies and rules that affect the life of a common citizen.
-
LIC Net Profit Jumps To Rs 683 Crore On Record Policy Sales
Driven by a record premium income, Life Insurance Corporation in its maiden earnings after going public has reported a multi-fold jump in net profit at Rs 682.89 crore from the paltry Rs 2.94 crore a year ago.
-
LIC's Public Offer Subscribed 1.79 Times On 5th Day Of Issue: 10 Points
The initial public offer (IPO) of Life Insurance Corporation (LIC) was subscribed 1.79 times on the fifth day of subscription on Sunday, May 8, 2022. Government plans to raise Rs 21,000 crore through the public issue and the insurance behemoth has unleashed a major awareness blitzkrieg, exhorting policy holders, employees as well as the general pub...
