Insurance News
Modi may roll out PMJAY for senior citizens by 23 September, sixth anniversary of health insurance scheme
The move will benefit 45 million families with 60 million senior citizens with free and cashless health cover of up to ₹5 lakh per year
3 min read12 Sep 2024Is your health insurance plan being withdrawn? Here’s how to quickly adjust and stay protected
Tata AIG has withdrawn its Medicare Protect Plan, prompting concerns of higher premiums for policyholders migrating to new products. Existing customers can renew within 90 days, but features may differ in new plans. Similar withdrawals by SBI and HDFC Ergo have raised industry scrutiny.
3 min read12 Sep 2024Mint Quick Edit | Is a GST rate cut for insurance good news?
It’s good that the GST Council has reportedly reached a consensus on slashing this tax rate on life and health insurance premiums. But rate multiplicity and frequent tweaks go against reformist ideals.
1 min read10 Sep 2024Is Aditya Birla’s new Income Suraksha Plan worth it? Exploring monthly income in term insurance
Aditya Birla Sun Life Insurance’s Income Suraksha Plan, promises regular monthly income instead of a lump-sum death benefit. While the term insurance plan guarantees a minimum of 10 years of payouts, is it the smarter choice? Who should consider this plan, and what’s the catch? Read on to know
3 min read9 Sep 2024Are business investments in improving customer experience going waste?
Discontent runs rife across many sectors despite high adoption of chatbots and other technology. Customer facing businesses need to get their act together fast. Better cross-functional collaboration, feedback integration across channels and ownership of CX at the leadership level remain critical.
4 min read9 Sep 2024Broken dams, crippled plants: Climate calamities hike insurance costs for hydropower firms
Besides losses and insurance, damage to hydropower projects may strain the electricity grid as well. This is because unlike thermal projects, hydropower projects can be swiftly turned on and off, keeping the grid stable at times of high demand
6 min read6 Sep 2024Can I ask insurers to get my medical check-up done?
Insurance companies have their underwriting processes. While some policies might include a mandatory medical check-up based on age, sum insured, or other factors, the insurer, not the customer, generally determines whether one is required
3 min read5 Sep 2024GST Council meeting: Planning to buy insurance? Hold on! Major relief may be coming for policyholders. Details here
The 54th GST Council meeting on September 9, 2024, may address removing the 18 percent GST on term life insurance premiums, a demand from various stakeholders aiming to reduce costs for consumers and promote insurance uptake in India.
2 min read8 Sep 2024Retirement Planning: How traditional life insurance products supercharge your pension plan strategy
Retirement planning has evolved, necessitating a steady income stream to manage rising costs. In India, where social safety nets are limited, traditional life insurance is vital for achieving financial independence and ensuring a secure retirement, regardless of when one chooses to retire.
3 min read4 Sep 2024Why GST Council cannot ignore the health insurance row
Health insurance policies attract an 18% GST rate on the total premium paid, the second highest tax slab. However, as premiums see a sharp rise due to medical care becoming more expensive, the government could be forced to reconsider its decision.
4 min read3 Sep 2024Popular Topics
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